Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Justin Sun's cosmic adventure and regulatory agencies finally playing nice to AI job fears getting debunked and Cardano opening their treasury vault, 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

🟧 Tron founder Justin Sun successfully returned from his $28 million Blue Origin spaceflight and experienced the "Overview Effect" while witnessing Earth's fragility from space.

🟧 The CFTC launched a "crypto sprint" to work with the SEC on implementing Trump administration's 18 crypto recommendations aimed at making America the "crypto capital of the world.”

🟧 White House AI and crypto czar David Sacks argued that AI job displacement fears are "overhyped," while a Microsoft study identified crypto-related roles like journalists and technical writers as most at risk.

🟧 Cardano's community approved a $71 million treasury spend for IOG's 12-month development plan focusing on scalability and interoperability upgrades, despite some transparency concerns.

Justin Sun Spends $28M on Space Trip and Discovers Earth is Actually Pretty Small

Justin Sun just became the first crypto founder to literally take his blockchain to the moon! The Tron network mastermind safely touched down on Saturday after his $28 million joyride aboard Blue Origin's NS-34 mission, and boy, does he have some stories to tell.

Our space-traveling entrepreneur joined five other lucky earthlings on this cosmic adventure, including a venture capitalist, a meteorologist, and a philanthropist – basically the most expensive group chat in human history. Sun originally snagged his golden ticket back in 2021 when he won the bid for the first reservation, proving that sometimes the best investments are literally out of this world.

Sun experienced what astronauts call the "Overview Effect," that mind-bending moment when you see Earth from space and suddenly realize our planet is just a tiny, precious marble floating in the cosmic void. "Earth is so small, and it's our home. We definitely need to do whatever we can to protect it," Sun reflected, channeling his inner space philosopher.

Filecoin and Lockheed Martin successfully tested the Interplanetary File System (IPFS) in early 2024, proving that decentralized storage isn't just for your NFT collection anymore. And Spacecoin XYZ just launched their first satellite in December, because apparently regular terrestrial blockchains are so last century.

It seems like blockchain technology is truly reaching for the stars, offering tamper-proof communications and radiation-resistant data storage that could revolutionize how we stay connected across the cosmos.

Justin Sun spent $28 million on a Blue Origin spaceflight and safely returned with a new perspective on Earth's fragility

Multiple crypto projects are actively building blockchain infrastructure in space, including Filecoin's IPFS testing and Spacecoin's satellite launch

Space-based blockchain systems are believed to offer better security, reduced latency, and protection from solar radiation damage

CFTC and SEC Finally Learn to Play Nice While Racing to Regulate Crypto

The Commodity Futures Trading Commission (CFTC) has officially kicked off what they're calling a "crypto sprint" alongside the Securities and Exchange Commission (SEC), and honestly, watching these two agencies coordinate is like witnessing a rare astronomical event.

Acting Chair Caroline Pham isn't messing around, declaring that the CFTC is "wasting no time" in fulfilling President Trump's vision to make America the "crypto capital of the world." That's quite the ambitious goal considering we're still figuring out whether Bitcoin is digital gold or just really expensive internet money!

The whole shindig stems from Trump's Working Group on Digital Asset Markets, which dropped a hefty report with 18 recommendations for the CFTC. Two of these are direct marching orders for the agency: figuring out how cryptos can be considered commodities and tweaking rules to accommodate blockchain-based derivatives. The remaining 16 recommendations require the CFTC to play nice with other agencies.

The CFTC and SEC are now supposed to work together (cue the collective gasps from crypto Twitter) to create regulatory clarity, establish a regulatory sandbox, and eventually allow platforms to offer multiple services in one interface.

Pham proudly announced that the CFTC has already been hustling behind the scenes, meeting with crypto executives and ditching "outdated staff advisories.”

CFTC launched "Project Crypto" sprint to implement 18 Trump administration recommendations alongside the SEC

Key goals include defining crypto commodities, creating regulatory sandboxes, and allowing 24/7 derivatives trading

Brian Quintenz from Andreessen Horowitz is speculated to lead the CFTC, though his nomination hearing was mysteriously postponed

David Sacks Tells Everyone to Stop Panicking About AI Stealing Their Jobs

David Sacks, Trump's newly minted AI and crypto czar, just dropped some hot takes that are sure to ruffle feathers in both Silicon Valley coffee shops and crypto Twitter threads. According to our White House tech whisperer, all this panic about AI stealing everyone's jobs is basically the equivalent of Y2K hysteria – lots of dramatic headlines, but reality is far more nuanced.

Sacks argues that AI is still gloriously dependent on us humans to actually get stuff done, noting that it "does the middle-to-middle work" while humans manage the end-to-end processes. Think of AI as that really smart intern who can crank out impressive first drafts but still needs someone to check their work and make sure they didn't accidentally recommend investing life savings in Dogecoin derivatives.

Microsoft Research just dropped a study that's got some folks in the crypto space nervously checking their LinkedIn profiles. Their analysis of 200,000 Bing Copilot chats revealed that knowledge-based roles like news analysts, journalists, and technical writers are sitting pretty high on the AI replacement hit list – and yes, these are exactly the kinds of jobs you'll find scattered throughout the crypto industry.

The study gave reporting and writing roles scary-sounding "AI applicability scores" between 0.38 and 0.39, while data-driven positions like market research analysts scored slightly lower. Meanwhile, the job market numbers are looking about as exciting as a sideways Bitcoin chart – only 73,000 new jobs added in July (way below expectations), and crypto job boards are practically tumbleweeds with just 38 and 69 new positions respectively.

Sacks found validation in Balaji Srinivasan's argument that "AI doesn't take your job, it lets you do any job" – essentially suggesting that AI is more like a really powerful toolbox than a job-stealing robot overlord.

David Sacks claims AI job displacement fears are "overhyped" since AI still requires human supervision and management

Microsoft study identified crypto industry roles like journalists and technical writers as most vulnerable to AI replacement

Crypto job market remains sluggish with only 38-69 new positions added across major job boards in July

Cardano Voters Just Approved Spending $71M on Network Upgrades Whether They Like It or Not

Cardano community just made it rain to the tune of $71 million (or 96 million ADA if you're counting), and Input Output Global (IOG) is probably doing a happy dance somewhere in their developer caves. The proposal sailed through with 74% approval – that's 200 "yes" votes versus a measly 6 "nope" votes and 7 fence-sitters who probably got distracted by the latest meme coin drama.

Some Cardano holders were raising eyebrows about costs, transparency, and whether IOG would actually deliver on their promises.

The 12-month development roadmap sounds pretty ambitious, focusing on scalability improvements, better developer experience, and enhanced interoperability. Key highlights include Project Hydra (for lightning-fast, cheap transactions) and Project Acropolis.

Currently, Cardano transactions cost about 0.34 ADA and take around 20 seconds per block – not exactly Solana-speed.

The funding structure is actually pretty smart, ensuring IOG can't just disappear to the Bahamas with everyone's ADA. They'll need to publish monthly updates, engineering timesheets, and quarterly budget breakdowns.

Interestingly, there was a competing proposal from Cardano's Technical Steering Committee, but it didn't get the Intersect endorsement, leaving it about as relevant as last year's NFT collection.

Cardano community approved $71M (96M ADA) funding for IOG's 12-month network upgrade plan with 74% support

Key projects include Hydra protocol for faster transactions and Project Acropolis for improved node architecture

Milestone-based funding structure with Intersect oversight addresses community concerns about transparency and accountability

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). From space-bound crypto founders to earthbound regulatory sprints, it's been quite the journey through today's digital frontier. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is 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! 📣❤️ Share the newsletter

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