Hey there, PoI readers! 💫

It's your favorite tech trailblazer, Mochi, dropping into your inbox with another electrifying edition of Proof of Intel. 🔍 We've got a rollercoaster of stories that'll make your digital neurons dance – from Trump Media's crypto adventures to Elon Musk's balancing act, and Meta's content moderation drama. This Newsletter’s news is spicier than a blockchain hot sauce, and we're serving it up with our signature blend of wit and wisdom. 🌐 Get ready to dive deep into the most fascinating corners of tech and web3 – no snooze button required!

INTEL BRIEF

🟧 Trump Media partners with Crypto.com to launch Made in America ETFs targeting digital assets and securities.

🟧 SEC drops fraud case against Hex founder Richard Heart, claiming lack of jurisdictional grounds.

🟧 Tesla maintains Bitcoin holdings while Elon Musk plans to reduce time at Trump's efficiency department.

🟧 Meta's Oversight Board demands more transparency and details about the company's new hate speech policies.

Trump Media Launches American-Focused Crypto ETF Adventure

Trump Media and Technology Group has struck a game-changing deal with Crypto.com that's more American than apple pie and blockchain combined! The partnership aims to launch exchange-traded funds (ETFs) with a "Made in America" twist, proving that innovation and patriotism can indeed go hand in hand.

Set to debut later in 2025, the ETFs will be rolled out through Trump Media's decentralized finance brand, Truth.Fi, and will be accessible via Crypto.com's broker-dealer, Foris Capital. These funds aren't just your run-of-the-mill investment vehicles – they're strategically designed to encompass digital assets and securities across diverse industries, with a special spotlight on sectors like energy.

Trump Media plans to invest its own cash reserves into these ETFs, demonstrating serious skin in the game. With Davis Polk lending legal expertise and a $250 million war chest from their Charles Schwab partnership, this venture screams strategic financial maneuvering.

Interestingly, this isn't the Trump family's first rodeo in the crypto corral. They've previously launched World Liberty Financial and even dipped their toes into Bitcoin mining with the aptly named American Bitcoin venture.

The timing is particularly intriguing, as spot crypto ETFs are experiencing a renaissance, with over $1 billion in institutional inflows this week. Crypto.com's native token, Cronos, has already seen a 12% surge following the announcement – though it's still playing catch-up from its 2021 glory days.

Trump Media partners with Crypto.com to launch Made in America ETFs

ETFs will target digital assets and securities across various industries

Planned launch in 2025, pending regulatory approval

Richard Heart Celebrates Complete Victory Over SEC

U.S. Securities and Exchange Commission (SEC) has thrown in the towel on its fraud case against Richard Heart, the controversial founder of Hex, PulseChain, and PulseX. What started as a high-stakes legal showdown has ended with what Heart is calling a complete defeat of the regulatory body.

The saga began in July 2023 when the SEC sued Heart, alleging he made over $1 billion through unregistered securities offerings of his crypto tokens. The regulator claimed Heart was touting tokens as a "pathway to grandiose wealth" – a marketing pitch that raised more than a few regulatory eyebrows.

But the legal battle took some wild turns. In an international game of cat and mouse, Interpol even issued a Red Notice for Heart in December 2024, seeking his arrest in Finland on suspicions of tax evasion.

Judge Carol Bagley Amon's February 28th court decision was the real game-changer. She dismissed the SEC's original complaint, stating that the regulator failed to establish jurisdiction over Heart's activities. The court essentially argued that Heart's operations were not specifically targeted at U.S. investors – a crucial legal nuance.

Heart didn't hold back in his celebration, posting on X that this was a victory not just for him, but for open-source software, cryptocurrency, and free speech. He dramatically claimed this was the only case where "the SEC lost and crypto won across the board."

The timing is particularly interesting, as the SEC has been dropping or suspending several crypto-related cases under the current administration. Meanwhile, Heart's native token, PulseChain (HEX), hit an all-time high of $0.031 in December 2024 but has since experienced a 76% decline – a rollercoaster ride typical of the crypto world.

SEC drops fraud case against Richard Heart due to jurisdictional issues

Heart claims total victory for crypto and free speech

Interpol previously sought Heart's arrest in Finland

Elon Musk Juggles Tesla Bitcoin Holdings and Government Efficiency

Elon Musk is making waves once again. Despite Tesla's Q1 results missing Wall Street estimates, the company is holding steady with its Bitcoin position and Musk's characteristic flair for the dramatic.

Tesla's revenues came in at $19.34 billion, representing a 9.2% drop from the same period last year. Net income plummeted by 80.8% to $409 million, sending ripples of concern through the financial markets. Yet, the stock surprisingly jumped 5.4% in after-hours trading, proving that Musk's magic touch hasn't entirely disappeared.

Bitcoin believers, rejoice! Tesla has maintained its 11,509 Bitcoin stash, valued at over $1.07 billion following a recent market rebound. The digital asset holdings experienced a 11.61% value drop in Q1, closely mirroring Bitcoin's 11.56% price fall to $82,514. A new accounting rule now allows companies to report crypto holdings at market value, adding transparency to Tesla's digital asset strategy.

Musk's commitment to scaling back his time at the Trump administration's Department of Government Efficiency (playfully abbreviated as DOGE – a cheeky nod to the meme cryptocurrency). "Starting probably next month, May, my time allocation to DOGE will drop significantly," Musk proclaimed during the earnings call.

Musk plans to continue spending "a day or two per week" on DOGE-related matters, ensuring the "waste and fraud" efforts don't backslide. This comes as Tesla shares are down 37% year-to-date, influenced by declining sales, Musk's political engagements, and economic uncertainties from Trump's tariffs.

The tech world is left wondering: Is this the beginning of a more focused Musk, or just another chapter in his ever-evolving narrative?

Tesla maintains 11,509 Bitcoin despite Q1 revenue miss

Musk to reduce time at Trump's efficiency department

Company stock rises 5.4% in after-hours trading

Meta Oversight Board Challenges Zuckerberg's Content Moderation Policies

Meta's Oversight Board is putting the spotlight on the company's controversial content moderation strategy. The independent watchdog is calling out Mark Zuckerberg's recent policy overhaul, which seemingly rolled back protections for vulnerable user groups.

The Board didn't mince words, criticizing Meta for announcing its new policies "hastily and in a departure from regular procedure". They're demanding a comprehensive review that goes far beyond bureaucratic niceties. Key asks include a detailed impact assessment on vulnerable user groups and public reporting of findings every six months.

The policy changes, implemented just before President Donald Trump took office, aimed to allow "more speech" across Facebook, Instagram, and Threads. However, this approach came with a significant caveat: scaling back hate speech rules that previously protected immigrants and LGBTQIA+ users.

In a comprehensive review, the Oversight Board issued 17 recommendations targeting various aspects of Meta's content moderation. These include measuring the effectiveness of the community notes system, clarifying stances on hateful ideologies, and improving harassment policy enforcement. They've also urged Meta to recommit to the UN Guiding Principles on Business and Human Rights.

While the Oversight Board's direct policy-shaping power is limited, Meta is required to follow its rulings on individual posts. The tech world is watching closely to see how Zuckerberg and Meta will respond to these pointed criticisms.

Oversight Board demands transparency on Meta's new hate speech policies

17 recommendations issued to improve content moderation

Calls for comprehensive impact assessment on vulnerable groups

And that's a wrap, my awesome PoI fam! 🌈 We've journeyed through the wild world of tech and crypto, unraveling stories that'll make you the smartest person at your next virtual happy hour. Whether you're a blockchain buff or a curious newcomer, we hope this newsletter sparked some serious brain fireworks. 🧠 Remember, in the world of digital innovation, knowledge is your most valuable asset – and we're here to keep you loaded up! 💎

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

🍨📰 Catch you in the next issue! 📰🍨