Hey there, PoI readers! 💫 

It's your favorite ice-cream-named crypto connoisseur, Mochi, back with with our 140th newsletter, serving tantalizing tech and web3 news. Today's scoop is extra special - we're diving into Trump's new DOGE department with Elon at the helm, Bitcoin's dance with $91K, and some seriously spicy crypto crime stories that'll make your digital wallet clutch its pearls! From government efficiency to record-breaking heights, with a dash of international intrigue, we've got quite the sundae of stories to share. So, grab your favorite snack and let's dive into this delicious digest! 🌐

INTEL BRIEF

🟧 President-elect Trump creates the Department of Government Efficiency (DOGE), appointing Elon Musk and Vivek Ramaswamy to lead this new initiative aimed at trimming $6.5 trillion in government spending.

🟧 Bitcoin shatters records by hitting $91,000, fueled by Trump's election victory and growing market optimism, putting the coveted $100,000 milestone within striking distance.

🟧 Bitcoin shatters records by hitting $91,000, fueled by Trump's election victory and growing market optimism, putting the coveted $100,000 milestone within striking distance.

🟧 A South Korean financial influencer known as "Mr. A" allegedly orchestrated a massive $232.7 million crypto scam affecting over 15,000 victims, leading to 215 arrests in the country's largest crypto fraud case.

Trump Puts Elon in Charge of $6.5T Government Cash with New 'DOGE' Agency!"

In what might be the most unexpected crossover episode of 2024, President-elect Trump has just announced a new government agency that sounds like it came straight from a crypto trader's wishlist. The Department of Government Efficiency (DOGE) - yes, you read that right - will be helmed by none other than current world’s richest man Tesla CEO Elon Musk and former presidential candidate Vivek Ramaswamy.

The dynamic duo is being tasked with what seems like a Silicon Valley approach to government reform: slashing through red tape, cutting wasteful spending, and restructuring federal agencies. We're talking about tackling a whopping $6.5 trillion in annual government spending.

In what appears to be a cosmic coincidence (or is it?), Dogecoin has shot up by 150% since the election, briefly touching the $0.4 mark for the first time since May 2021. Could this be the universe's way of giving a thumbs up, or just Musk's famous "Midas touch" at work again?

Speaking of our new DOGE bosses, Ramaswamy isn't just bringing his pro-crypto stance to the table - his firm, Strive Enterprises, has already started integrating Bitcoin into client portfolios.

Musk, fresh from his Twitter-to-X transformation saga, seems ready to bring his disruptive energy to government efficiency. As he put it, this move will "send shockwaves through the system" - and honestly, when has Elon ever undersold a shake-up?

New Department of Government Efficiency (DOGE) to be led by Elon Musk and Vivek Ramaswamy

Agency will target $6.5 trillion in government spending for efficiency improvements

Dogecoin surged 150% since election announcement, potentially riding the DOGE agency name wave

Bitcoin Hits All Time High 91K As Trump Victory Sparks Massive 100K Rally

Bitcoin just smashed through another ceiling like it's playing some sort of cosmic breakout game, touching a mind-bending $91,000 per coin! That's right, folks - we're now just a mere 9% away from the big six-figure dream that crypto enthusiasts have been drooling over since... well, forever!

The timing? Well, it's spicier than wasabi! This all went down right after Trump's presidential victory, which apparently has turned the market more bullish than a bull in a China shop wearing a "Buy Bitcoin" t-shirt. According to our friend Ryan Lee at Bitget Research, we might be rocking around the Christmas tree with $100K Bitcoin this year - now that's what I call a holiday bonus!

The stablecoin market cap is doing its own happy dance around $160 billion, suggesting there's enough dry powder in the market to launch Bitcoin higher than my enthusiasm for ice cream (and that's saying something!).

And here's the cherry on top: BlackRock's Bitcoin ETF celebrated the election results by casually dropping $1 billion in volume.
Meanwhile, the Republican-controlled Senate is being dubbed the "most pro-crypto Congress ever" by Coinbase CEO Brian Armstrong.

The crypto community is buzzing louder than a mining farm, with industry experts like Andrey Lazutkin suggesting we might see some sweet, sweet regulatory clarity coming our way. Because nothing says "innovation-friendly" quite like a Congress that actually understands what a blockchain is!

Bitcoin hits historic $91,000, just 9% shy of the legendary $100K mark

Trump's victory and Republican Senate majority are believed to be catalyzing the rally

Massive ETF inflows and $160B stablecoin market cap suggest more rocket fuel in the tank

Inside the $73M Pig Butchering Crypto Scam That Fooled America!

In what sounds like a plot straight out of "Ocean's Eleven: Crypto Edition," Daren Li, a 41-year-old dual citizen, has just pleaded guilty to being the mastermind behind a massive $73 million crypto laundering scheme.

The scheme, which ran from August 2021 to April 2024, was more complex than you can imagine. Li reportedly orchestrated a web of US-based shell companies and bank accounts that would make a Russian nesting doll feel inadequate. The cherry on top? One of their wallets casually held $341 million in digital assets.

But here's where it gets extra spicy: Li was caught at Atlanta airport (another one? 😝), while his alleged partner in crime, Yicheng Zhang, was nabbed in Los Angeles. I guess you could say their escape plans got... frozen. 😏

Now Li is facing the kind of brain freeze nobody wants: up to 20 years in the slammer, three years of supervised release, and a fine that could make your wallet cry - $500,000 or twice the stolen amount, whichever hurts more. Oh, and let's not forget the potential restitution payments ranging from $4.5 million to $73 million. Ouch!

The Department of Justice's Criminal Division head, Nicole M. Argentieri, noted that Li operated this scheme from outside the US, proving once again that in the world of crypto crime, you can run, but you can't hide (especially at airports).

Daren Li pleads guilty to laundering $73 million through crypto investment scams

Faces maximum 20-year sentence and potentially massive fines

Must potentially pay up to $73 million in restitution to victims

YouTube Star's $232M Crypto Scheme Ends in 215 Arrests - Victims Sold Their Homes!

And, we have yet another story of a Scammer for today. Turns out, We’re not yet done with them! In what might be the most expensive case of "turning lemons into illegal lemonade," a South Korean financial influencer (let's call him Mr. A since that's all we've got) allegedly turned his failed stock advice into a $232.7 million crypto scam.

Get this: After making a stock recommendation that flopped harder than my first attempt at making mochi, Mr. A apparently thought, "Why stop at disappointing a few investors when I could disappoint 15,304 people instead?" The scheme involved 28 cryptocurrencies, six of which were homemade specials from Mr. A's crypto kitchen. Spoiler alert: They weren't exactly Michelin-star quality!

The operation was more elaborate than a K-pop dance routine, with scammers accessing 9 million phone numbers from Mr. A's YouTube channel (which boasted 620,000 subscribers!). They even had the audacity to impersonate Financial Supervisory Service members - talk about method acting!

But here's the brain-freeze moment: victims were encouraged to sell their apartments to participate, with entry fees reaching $854,000! The plot twist? Mr. A tried to pull a disappearing act to Australia, but like a melting ice cream cone, he couldn't escape the heat.
Police have already seized 22 Bitcoin and are eyeing $34 million in cash from related accounts.

South Korean authorities aren't playing games anymore - they're threatening life imprisonment for crypto scammers. Because nothing says "we're serious" quite like the possibility of spending forever in a place where you can't check crypto prices!

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South Korean influencer allegedly scammed $232.7M from 15,304 victims through 28 cryptocurrencies 

215 people arrested, including the mastermind who tried fleeing to Australia

Authorities have seized 22 Bitcoin and are pursuing $34M in cash from related accounts

And that's all the scoops for today, my wonderful PoI readers! 🍨 We've covered quite the spread! Remember, in the wild world of crypto, staying informed is like having sprinkles on your ice cream - it just makes everything better!

Until next time, this is Mochi, your favorite crypto-loving dessert, signing off with a virtual ice cream toast! 🍦✨

P.S. Don't forget to share this newsletter faster than Bitcoin hits new ATHs! Your thoughts and reactions are the cherry on top of our PoI sundae! 💫 🎭 Share the newsletter with friends who need their daily dose of crypto tea! 📣❤️

🍨📰 Catch you in the next issue! 📰🍨