Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of spicy tech drama and web3 wonderland! From Elon's eye-popping OpenAI bid getting a sassy rejection, to Litecoin's ETF chances looking brighter than a supernova, we've got some juicy stories to share. Not to mention Strategy's Bitcoin shopping spree and the SEC taking a surprising timeout with Binance! So grab your favorite beverage, settle in, and let's dive into today's digital digest!

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INTEL BRIEF

🟧 Elon Musk's reported $97.4B bid to acquire OpenAI was met with a witty rejection from Sam Altman, escalating the ongoing tension between the former co-founders over the company's direction.

🟧 Bloomberg analysts predict a high 90% probability of SEC approval for a spot Litecoin ETF in 2025, surpassing the approval odds of other proposed crypto ETFs.

🟧 Strategy (formerly MicroStrategy) made its first Bitcoin purchase under its new name, acquiring 7,633 BTC at $97,255 per BTC, continuing its aggressive Bitcoin treasury strategy.

🟧 The SEC and Binance jointly requested a 60-day pause in their legal battle, citing the potential impact of the newly formed SEC Crypto Task Force under acting chair Mark Uyeda.

Sam Altman Mocks Musks 97B OpenAI Bid With 9B Twitter Joke as Tech Titans

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Elon Musk and his investor squad just made a whopping $97.4 billion bid to buy OpenAI, only to get a rather spicy rejection from CEO Sam Altman. The drama unfolded on February 10th when The Wall Street Journal reported this massive takeover attempt, leading to what might be the most expensive "no thanks" in tech history.

Altman's response? A classic case of tech-exec sass: "no thank you but we will buy twitter for $9.74 billion if you want" - a not-so-subtle jab at Musk's $44 billion Twitter (now X) purchase. Musk, not one to take rejection lying down, fired back by sharing a video of Altman's congressional testimony about his OpenAI equity ownership, dubbing him "Scam Altman."

The plot thickens when you consider that these former besties co-founded OpenAI together in 2015. Their falling out stems from fundamental disagreements about the company's direction - Altman's push toward profit-making versus Musk's preference for nonprofit status. This tension has already sparked legal drama, with Musk previously filing (and dropping) a lawsuit against OpenAI.

The bid, backed by Musk's AI venture xAI and several investment heavyweights, comes at a time when OpenAI's value is skyrocketing. The company was reportedly valued at $157 billion in October, and rumors suggest SoftBank is eyeing a $40 billion deal that could push that value to $260 billion. Musk's team, through lawyer Marc Toberoff, has made it clear they're ready to enter a bidding war if necessary.

Meanwhile, OpenAI continues to make power moves, including participation in the recently announced $500 billion "Stargate" AI infrastructure investment.

Elon Musk and investors offered $97.4B to buy OpenAI, promptly rejected by Sam Altman with a witty counteroffer

The bid highlights ongoing tension between former co-founders over OpenAI's nonprofit vs. profit-making direction

OpenAI's valuation continues to soar, with potential deals pushing it toward $260B

Bloomberg Analysts Give Litecoin ETF a 90 Percent Victory Lap for 2025 Approval

Litecoin might be the next crypto to join the ETF party, and Bloomberg's crystal ball gazers are feeling pretty confident about it! According to ETF analysts James Seyffart and Eric Balchunas, who are basically the weathermen of the crypto world (but with better accuracy), Litecoin is sitting pretty with a 90% chance of getting the SEC's stamp of approval for a spot ETF before we wave goodbye to 2025.

Litecoin is actually leading the pack in the "Most Likely to Succeed in Getting SEC Approval" yearbook category. The other contenders aren't looking too shabby either, with Dogecoin strutting around with a 75% chance, Solana glowing with 70%, and XRP bringing up the rear with a still-respectable 65% probability.

Litecoin has already done its homework by filing those all-important S-1 and 19b-4 forms, which the SEC has acknowledged (think of it as getting a "seen" message from your strictest professor). Plus, word on the street is that the SEC views Litecoin as a commodity, which in regulatory speak is like having a hall pass.

while these predictions are coming from some of the sharpest tools in the Bloomberg shed, the crypto world is about as predictable as a cat on a hot tin roof. But if these analysts are right, 2025 could be the year Litecoin makes its grand entrance into the ETF ballroom.

Bloomberg analysts predict 90% chance of Litecoin spot ETF approval in 2025

Litecoin's odds surpass other crypto ETF candidates (Dogecoin 75%, Solana 70%, XRP 65%)

Strong approval chances attributed to completed paperwork and likely commodity classification

Michael Saylors Strategy Celebrates Name Change By Scooping Up 7633 Bitcoin at 97K Each

Michael Saylor's company is living up to its fresh rebrand from "MicroStrategy" to "Strategy" by doing what it does best - gobbling up Bitcoin like it's at an all-you-can-eat crypto buffet! In their first purchase under the new banner, Strategy scooped up a whopping 7,633 BTC between Feb. 3 and Feb. 9, 2025, paying a cool $97,255 per Bitcoin.

Since jumping on the Bitcoin bandwagon back in August 2020, Strategy has amassed an impressive 478,740 BTC at an average price of $65,033 per coin. Not too shabby for a company that decided to go all-in on the digital gold rush! Speaking of performance, their Bitcoin yield (fancy talk for how well they're doing) is sitting at 4.1% YTD, though that's a bit more modest compared to their rockstar performance of 74.3% in 2024.

Strategy aims to raise $21 billion in equity AND another $21 billion in fixed-income securities over the next three years. Why? To buy more Bitcoin, of course! They're like that friend who can't stop talking about their favorite hobby, except their hobby involves billions of dollars.

The name change from MicroStrategy to Strategy makes perfect sense, as Samson Mow, Jan3's CEO, hilariously pointed out: "There's nothing micro about what MicroStrategy is doing." True that! When you're planning to raise $42 billion total to buy more Bitcoin, "micro" definitely doesn't cut it anymore.

So far in 2025, Strategy has already added 32,340 BTC to their treasure chest, representing about 7% of their total holdings. Despite a $670-million net loss in Q4 2024 and lowering their BTC yield target to 15% for 2025, they're still charging ahead with their Bitcoin accumulation strategy like a bull in a china shop.

Strategy (formerly MicroStrategy) purchased 7,633 BTC at $97,255 per coin, bringing their total holdings to 478,740 BTC

Company plans to raise $42 billion over three years through their "21/21 plan" for more Bitcoin purchases

Already acquired 32,340 BTC in 2025, showing strong commitment to their Bitcoin treasury strategy despite adjusted yield targets

SEC and Binance Join Forces to Pause Legal Battle as Crypto Mom Takes Lead

The SEC and Binance just called for a surprise intermission in their ongoing legal saga! In what might be the most unexpected plot twist since Bitcoin hit $100K, both parties filed a joint motion on February 10th asking for a 60-day timeout.

It’s the first major crypto case halt since Mark Uyeda took the SEC's helm as acting chair. The dynamic duo (yes, we're talking about the SEC and Binance playing nice for once) mentioned that the newly established SEC Crypto Task Force might just be the game-changer everyone's been waiting for.

Industry watchers are already speculating that other crypto heavyweights like Ripple, Coinbase, and Kraken might follow suit with their own "time out" requests.

The task force itself is being led by none other than "Crypto Mom" Hester Peirce (yes, that's her actual nickname in the crypto community), who's been waving the crypto-friendly flag at the SEC for years. She's been refreshingly candid about the situation, admitting that the SEC's crypto approach has been about as clear as a bowl of alphabet soup.

In a moment of pure bureaucratic poetry, Peirce noted that "many market participants remain in limbo" - which might be the most diplomatic way of saying "we know everyone's confused, and we're working on it." She's asking for patience as they work to untangle what has become the regulatory equivalent of your old headphone cables.

SEC and Binance jointly requested a 60-day pause in their legal case, marking the first such request under acting SEC chair Mark Uyeda

Other major crypto companies are expected to follow with similar pause requests

The newly formed SEC Crypto Task Force, led by "Crypto Mom" Hester Peirce, aims to bring clarity to crypto regulations

And that's all the bytes for today, my wonderful PoI readers! 🎯 From Altman's witty Twitter comebacks to Michael Saylor's company getting a fancy new name (but keeping the same Bitcoin appetite), we've covered it all. Whether you're here for the drama, the tech, or just my terrible puns, I hope today's newsletter added some sparkle to your day! ✨

Until tomorrow, this is your favorite ice cream-named newsletter writer, Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community!

🍨📰 Catch you in the next issue! 📰🍨