Hey there, PoI readers! 💫

It's your favorite ice-cream-themed crypto journalist, Mochi, here to serve up today's hottest digital digest! From Trump's DOGE dividend drama and the UAE's explosive crypto app adoption to the SEC's surprising regulatory retreat and Nigeria's billion-dollar Binance battle, we've got a feast of fascinating stories that'll make your crypto wallet tingle with excitement! So grab your favorite beverage, settle in, and let's dive into today's tech tempest.

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INTEL BRIEF

🟧 Trump's promise of a 20% "dividend" from DOGE's claimed $55 billion in government savings faces scrutiny as crypto sleuth exposes significant calculation errors in the department's reported figures.

🟧 The UAE experienced a dramatic 41% surge in crypto app downloads in 2024, reaching 15 million total downloads with a record-breaking December spike of 2.8 million installs.

🟧 The SEC has withdrawn its appeal against a court ruling that prevented them from expanding broker-dealer rules to include decentralized crypto protocols, marking a significant victory for the crypto industry.

🟧 Nigeria has launched a massive $81.5 billion lawsuit against Binance, claiming unpaid taxes and economic damages, following a dramatic saga involving the detention of two Binance executives.

Trump Promises Tax Returns While DOGE Accidentally Adds 8 Billion Extra Dollars

The Department of Government Efficiency (DOGE) – spearheaded by our favorite Twitter-happy billionaire Elon Musk – is facing some serious number-crunching drama. The department proudly claimed to have saved American taxpayers a whopping $55 billion, but thanks to a sharp-eyed crypto sleuth known as Momentum Chaser, those savings might be more "doge-y" than previously thought.

DOGE reportedly made some slight... shall we say... decimal point fumbles. For instance, they allegedly turned an $8 million Homeland Security contract into $8 billion.

But wait, there's more! They also apparently played a fun game of triple-counting with some USAID contracts, turning $655 million into nearly $2 billion.

Despite these "minor" adjustments being made on their website, DOGE is still standing firm on that $55 billion figure, raising more eyebrows than a Zoom meeting with poor connection. Meanwhile, President Trump is floating the idea of giving Americans a 20% "dividend" from these savings, though given the mathematical mishaps, you might want to hold off on planning that shopping spree.

The plot thickens as 14 states tried (and failed) to get a restraining order against DOGE, while various government departments are experiencing what we'll diplomatically call "aggressive streamlining." The White House is now doing the corporate equivalent of "they don't work here" regarding Musk's role, though Trump seems to have missed that memo.

DOGE claimed $55 billion in government savings, but multiple calculation errors were discovered, including an $8 million vs. $8 billion "typo"

Trump proposes giving 20% of savings to taxpayers, despite uncertainty about the actual amount saved

Controversy grows as government services face cuts and Musk's role remains unclear

UAE Shatters Records As Crypto Apps Hit 3.5 Million Downloads In Single Month

The UAE saw their crypto app installations go absolutely bonkers – we're talking a 41% increase from 2023's modest 6.2 million to a whopping 15 million in 2024!

The real party kicked off in the latter half of 2024, with December becoming the ultimate "hold my shawarma" moment, racking up an impressive 2.8 million downloads. But wait, it gets better – January said "hold my karak chai" and hit 3.5 million installations!

What caused this crypto craze? Well, it seems Trump's presidential victory in November 2024 had everyone reaching for their app stores faster than you can say "blockchain." His pro-crypto stance and subsequent memecoin launch (which, spoiler alert, didn't end well for about 813,000 wallets) had people FOMOing harder than teenagers at a sold-out concert.

According to AppsFlyer's director of market insights, Shani Rosenfelder, about 60% of traffic came from aggressive marketing. Though, in a classic "swipe left" scenario, one in five apps got uninstalled within 30 days. Talk about crypto commitment issues!

UAE crypto app downloads skyrocketed by 41% in 2024, hitting 15 million total downloads

December 2024 saw 2.8 million downloads, followed by a record 3.5 million in January 2025 

Despite high installation rates, 20% of apps face uninstallation within a month, highlighting retention challenges

SEC Shockingly Surrenders Battle Over DeFi Protocol Control In Surprise Move

The SEC has just pulled its own appeal in a case that had the entire crypto industry biting their nails!

Last year, the SEC tried to pull a sneaky one by attempting to expand their broker-dealer rules to wrap their regulatory arms around decentralized crypto protocols. But a Texas federal court judge said "Not so fast!" and blocked the move in November. Then, in a last-minute plot twist worthy of a Netflix series, former SEC Chair Gary Gensler decided to appeal the ruling just before packing up his desk.

The SEC has now filed a voluntary dismissal of their appeal to the Fifth Circuit Appeals Court on February 19th. That's right, folks – they essentially said "Just kidding!" to their own appeal. It's like sending a strongly worded email and then immediately hitting "Undo Send"!

The crypto industry is collectively doing their happy dance, with Blockchain Association CEO Kristin Smith declaring it a "complete and total victory." And honestly, who can blame them? This is like winning a game of regulatory chess where your opponent suddenly decides to flip their own king!

This withdrawal effectively ends the legal battle and means decentralized crypto protocols can breathe easier knowing they won't have to navigate the choppy waters of broker-dealer regulations... at least for now. Because let's be honest, in the crypto world, the only constant is change!

SEC has voluntarily withdrawn its appeal against a court ruling that blocked expanded broker-dealer rules

The withdrawal marks a definitive end to the legal battle over crypto protocol regulation

Crypto industry leaders are celebrating this as a major victory for decentralized protocols

Nigeria Slaps Binance With 81 Billion Dollar Lawsuit After Executive Prison Drama

Nigeria's Federal Inland Revenue Service (FIRS) is demanding $2 billion in back taxes (plus a spicy 26.75% interest rate – ouch!) and a whopping $79 billion in economic damages. Why? They're claiming Binance pulled a "look what you made me do" with their currency, the naira. According to Nairametrics, Nigeria's money supply jumped 17% year-over-year in January 2025, which is about as stable as my attempts at making soufflé.

But wait, this story has more layers than a cryptocurrency wallet! Remember the plot twist from February 2024 when Nigeria detained Binance executives Tigran Gambaryan and Nadeem Anjarwalla during what was supposed to be a casual chat? (Pro tip: Always be suspicious when someone says "let's just talk.")

The saga got even more intense when word got out that Gambaryan, a US citizen, was dealing with health issues while in custody. This prompted US Representative Rich McCormick to basically say "Hey, that's our guy!" and US Ambassador Richard Mills to join the "Free Gambaryan" campaign. After seven months of what I'm sure felt like the world's worst vacation, Gambaryan finally got to say "Peace out!" to Nigeria in October 2024.

Meanwhile, Binance did the digital equivalent of taking their ball and going home by halting all naira trading on their platform in March 2024. It's like they learned the hard way that "significant economic presence" means more than just having a lot of users who love to trade!

Nigeria is suing Binance for $81.5B: $2B in back taxes and $79B for allegedly destabilizing their currency

Two Binance executives were detained in Nigeria, with one US citizen held for seven months 

Binance has suspended all naira trading since March 2024 amid the ongoing controversy 

And that's all the digital delights I have for you today, my wonderful PoI family! 🎯 From government calculation mishaps to record-breaking app downloads, regulatory plot twists, and international crypto drama – we've covered it all! Remember, whether you're downloading your first crypto app or following the latest regulatory chess moves, staying informed is your best strategy. Until our next crypto adventure, this is your favorite dessert-named reporter, Mochi, signing off with a sprinkle of optimism!

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! 📰🍨