Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Ripple's bold banking ambitions and OpenAI's token drama to Trump's crypto windfall and North Korean Mac attacks, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets!

INTEL BRIEF

🟧 Ripple Labs is applying for a US banking license and Federal Reserve master account to legitimize its stablecoin operations, following Circle's similar move as crypto firms rush to comply with emerging regulations.

🟧 OpenAI publicly condemned Robinhood's "OpenAI tokens" offering, clarifying they're not actual equity in the company and that OpenAI didn't authorize or endorse the tokenized product launch.

🟧 President Trump has reportedly gained at least $620 million in net worth from crypto ventures including World Liberty Financial and his memecoin, with Democratic lawmakers calling for legislation to address potential conflicts of interest.

🟧 North Korean hackers are using new Mac-targeting malware called "NimDoor" written in the unusual Nim programming language to steal crypto wallets and passwords through fake Zoom update social engineering attacks.

Ripple Applies for Banking License Because Being a Crypto Company Isn't Enough Anymore

Ripple is tired of being the weird kid sitting outside the traditional banking playground and wants to join the cool kids' table. The crypto giant has officially applied for a US banking license with the Office of the Comptroller of the Currency (OCC), because apparently being a multi-billion dollar fintech company just isn't enough anymore!

CEO Brad Garlinghouse took to X (formerly Twitter, because we're all still confused about that rebrand) to announce that Ripple is "true to our long-standing compliance roots" - which is basically corporate speak for "we promise we're not the wild west anymore, please trust us!" The move comes hot on the heels of Circle's similar application just two days earlier, making this feel like a crypto regulatory race where everyone's suddenly desperate to wear suits and ties.

Ripple isn't just stopping at the banking license - they're also applying for a Federal Reserve master account through their acquired company Standard Custody. This would let them hold their RLUSD stablecoin reserves directly with the Fed. Garlinghouse claims this would provide an "additional layer of security" to future-proof trust in RLUSD, because nothing says "trust me."

The timing is particularly interesting as Congress just passed the GENIUS Act, which sets standards for stablecoin issuers and puts the OCC in charge of overseeing the big players.

Ripple applied for US banking license and Fed master account to legitimize stablecoin operations

Follows Circle's similar move as crypto firms rush to comply with new regulations

XRP token gained 3.2% on the news, hitting $2.27 before cooling off

OpenAI Roasts Robinhood for Selling Fake OpenAI Tokens Without Permission

OpenAI tokens" to EU customers, basically saying "Hey, want to own a piece of the AI revolution?" But OpenAI had other plans - like publicly roasting them.

OpenAI's official newsroom account dropped what can only be described as a corporate mic drop on Wednesday: "These 'OpenAI tokens' are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it." Translation: "Sir, this is NOT a Wendy's, and we didn't ask you to set up shop here!"

The whole drama started when Robinhood announced it was tokenizing shares of private companies like OpenAI and SpaceX for European customers. Robinhood's CEO Vlad Tenev tried to smooth things over by explaining that while the tokens aren't "technically equity," they give retail investors "exposure to these private assets" through some complicated Special Purpose Vehicle (SPV) arrangement.

The plot thickened when none other than Elon Musk jumped into the fray, calling OpenAI's equity structure "fake" - because apparently, when you're Elon Musk, every corporate drama is your corporate drama. This comes amid his ongoing legal battles with OpenAI over its shift from nonprofit to for-profit operations.

They claim this is all about "financial inclusion" and democratizing access to private markets. While that sounds noble, OpenAI clearly wasn't interested in being democratized without their permission!

OpenAI publicly disavowed Robinhood's "OpenAI tokens," clarifying they're not real equity

Robinhood defended the offering as giving retail investors "indirect exposure" through SPV ownership

Elon Musk joined the drama by calling OpenAI's equity structure "fake"

Trump Just Made $620 Million From Crypto While Being President

President Trump didn't just win the White House - he absolutely crushed it in the crypto casino too! According to a Bloomberg report, our commander-in-chief has reportedly added a whopping $620 million to his net worth through various crypto ventures, making his digital asset portfolio worth about 9% of his total wealth.

The lion's share of this crypto windfall comes from World Liberty Financial, the family-backed business that Trump and his three sons have been running. They've reportedly earned $390 million through token sales and are sitting on more than $2 billion worth of the company's governance tokens (WLF). The business potentially netted another $100 million from a deal where Abu Dhabi-based investment firm MGX used their USD1 stablecoin for a $2 billion investment in Binance.

Then there's Trump's personal memecoin, Official Trump (TRUMP), which is reportedly worth around $150 million. This little digital darling has been causing quite the stir, especially after Trump announced a dinner for the top 220 tokenholders and a "VIP tour" - because nothing says "presidential dignity" like a crypto holder meetup at the White House, right?

Meanwhile, Democratic lawmakers are having conniptions over these potential conflicts of interest. Oregon Senator Jeff Merkley and others have been pushing legislation to bar presidents, vice presidents, and their families from owning or promoting digital assets. Unfortunately for them, being in the minority means their bills have about as much chance of passing as a snowball surviving in a Bitcoin mining farm.

Trump gained $620M+ from crypto ventures including World Liberty Financial and his memecoin

Family business earned $390M through token sales, holds $2B+ in governance tokens

Democratic lawmakers pushing legislation to prevent presidential crypto conflicts of interest

North Korean Hackers Are Coming for Your Mac and Your Crypto Wallet

North Korean hackers who've decided to crash the Apple party with malware.

According to Sentinel Labs, these cyber ninjas from the DPRK are pulling off a classic social engineering scheme that would make even the most gullible person proud. They're impersonating trusted contacts on messaging apps like Telegram, then luring victims into fake Zoom meetings before sending what appears to be a "Zoom update file."

What makes this attack particularly sneaky is that it's written in Nim, a relatively new programming language that's about as common as a unicorn riding a bicycle. This unusual choice makes it incredibly hard for security software to detect, because most antivirus programs are looking for the usual suspects.

The payload is seriously nasty - it waits ten minutes before activating, then proceeds to steal everything from browser credentials to Telegram's encrypted database. It even has a "full-featured infostealer" called CryptoBot that specifically hunts for cryptocurrency wallet browser extensions. These hackers aren't just looking for loose change; they're going full Ocean's Eleven on your digital assets!

North Korean hackers using "NimDoor" malware targeting Mac computers through fake Zoom updates

Written in rare Nim programming language making it harder for security software to detect

Steals crypto wallets, passwords, and browser data with sophisticated infostealer payload

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

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