Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, here to serve up today's hottest slice of Trump’s first day’s related crypto chaos! From DOGE agency shenanigans and presidential silence to fake token tsunamis and AI reality checks, we've got more drama than a White House reality show. So grab your favorite beverage and settle in as we navigate through this wild intersection of politics and crypto!

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INTEL BRIEF

🟧 Elon Musk's Department of Government Efficiency (DOGE) launches official website featuring Dogecoin's logo, causing an 11% price rally amid potential legal challenges.

🟧 Trump's first day as the 47th President concludes with no direct action on cryptocurrency despite pre-inauguration expectations of major crypto policy announcements.

🟧 Fake Trump and Melania tokens scammed investors out of $4.8M in 24 hours as copycats flooded the Solana network during inauguration week.

🟧 OpenAI CEO Sam Altman debunks viral rumors about achieving artificial general intelligence (AGI), urging followers to drastically lower their expectations despite recent company developments.

Musk Transforms Government Agency Into DOGE While Dogecoin Pumps 11 Percent

Elon Musk’s newly established Department of Government Efficiency (DOGE) has officially gone live with a website that proudly displays the familiar face of everyone's favorite Shiba Inu. Yes, you read that right - the same doggo that graces your crypto wallet is now, somewhat ironically, the face of government efficiency.

The launch sent shockwaves through the crypto markets, with Dogecoin experiencing an impressive 11% rally, proving once again that Musk's influence in the crypto sphere is about as subtle as a moon rocket launch. The meme coin briefly touched $0.40, though it's still playing fetch with its all-time high of $0.73 from May 2021 - a gap of about 48% that has hodlers crossing their paws for another rally.

But it's not all treats and belly rubs in the DOGE pound. The agency is currently facing what could be described as a legal game of fetch gone wrong. National Security Counselors, a public interest law firm, is preparing to throw the book (or perhaps the chew toy) at DOGE, claiming it's been a naughty agency by not following the Federal Advisory Committee Act (FACA). The bone of contention? The agency allegedly needs to make its meetings as open as a dog park - accessible to the public and well-documented.

Looking ahead, DOGE has set its sights on a rather patriotic deadline: July 4, 2026 - the 250th anniversary of the Declaration of Independence. The goal? To deliver a leaner, more efficient government with less bureaucratic red tape. It's like putting your government on a diet, but with more memes and cryptocurrency references than your average fitness plan.

Musk's DOGE agency website launch pumped Dogecoin's price by 11%, briefly touching $0.40

The agency might face legal troubles for allegedly violating federal transparency laws

Hong Project aims to streamline government efficiency by July 4, 2026, coinciding with America's 250th birthday

Trump Ghosts Crypto World On First Day As Bitcoin Tanks From ATH

President Trump's first day back in the Oval Office came and went without a single mention of digital assets, leaving the crypto community checking their phones like they've been left on read by their high school crush.

Despite earlier Bloomberg reports suggesting Trump would designate crypto as a national priority and establish a crypto council, the president's inaugural address and subsequent 42 executive orders managed to dodge the topic entirely. It's like showing up to a Bitcoin conference and only talking about the weather – technically possible, but not what anyone expected.

The silence hasn't gone unnoticed in the markets. Bitcoin has taken a 6% dip from its fresh all-time high of $109,000, while the recently launched Trump-related memecoins are experiencing what we in the industry technically call "a big oof moment." The Official Trump (TRUMP) token has dropped 28.5%, and Melania's memecoin (MELANIA) has plummeted by 55.3% – proving that even presidential-themed tokens aren't immune to gravity.

However, FOX reporter Eleanor Terrett suggests there might still be hope for crypto enthusiasts, hinting at potential executive orders in the pipeline that would ban CBDCs and establish a crypto council.

The day wasn't completely devoid of crypto-adjacent news, though. Trump did sign an executive order launching Elon Musk's Department of Government Efficiency (DOGE), although Musk won't be getting a West Wing office because he's "very busy sending rocket ships up to various places." In classic Musk fashion, DOGE's first action was to post about deleting a diversity council page – talk about starting with a bang!

Despite expectations, Trump's first day and 42 executive orders contained zero crypto-related policies

Bitcoin dropped 6% from ATH while Trump-related memecoins experienced significant losses (TRUMP -28.5%, MELANIA -55.3%)

Potential crypto executive orders are still expected, including a CBDC ban and creation of a crypto council

Fake Trump Family Tokens Steal 4.8 Million From 12000 Victims In 24 Hours

In what could only be described as the crypto equivalent of a presidential identity crisis, the Solana blockchain witnessed an explosion of Trump-themed token impersonators, with 61 knockoff coins trying to convince investors they were the real deal. It's like walking into a room full of Elvis impersonators.

The numbers are as wild as a White House party gone wrong: these copycat tokens managed to attract $4.8 million from 12,641 wallets in just 24 hours. Security firm Blockaid reported that the daily average of malicious "Trump" tokens doubled from 3,300 to 6,800 on the official TRUMP token's launch day – talk about flooding the market faster than a Mar-a-Lago swimming pool!

The situation got even messier when we dive into the details. Of the 38 fake TRUMP tokens trading on Solana DEXs, only nine had the dignity of maintaining at least $10,000 in their liquidity pools. And speaking of dignity, Meanwhile, the 23 MELANIA token impersonators weren't doing much better in the legitimacy department.

The crypto community's reaction has been about as subtle as a Trump tweet storm. Mark Cuban declared it a farewell to crypto's hopes of legitimacy, while Nic Carter raised concerns about potential emoluments clause violations. But the drama doesn't stop there – speculation is now swirling about potential official tokens for other Trump family members, with World Liberty Financial snatching up ENS domains.

61 fake Trump/Melania tokens scammed $4.8M from over 12,000 wallets in 24 hours

Most copycat tokens showed classic rug-pull behavior with rapid liquidity drains

Speculation about official tokens for other Trump family members grows as related ENS domains get snatched up

Sam Altman Crushes AGI Dreams As OpenAI Hits Development Wall

OpenAI's CEO Sam Altman has stepped in to play party pooper to the AI hype festival brewing on social media. His message? Take whatever excitement you have about OpenAI's recent developments and dial it back by, oh, just a casual 100x.

The drama kicked off when rumors started swirling faster than a Silicon Valley startup's burn rate, suggesting that OpenAI had secretly achieved artificial general intelligence (AGI) – you know, the kind of AI that can do anything a human brain can do, except maybe appreciate dad jokes. These whispers gained momentum after AI writer Gwern Branwen posted what could be described as the tech equivalent of finding Bigfoot, suggesting OpenAI had "broken out" and crossed some magical threshold of artificial intelligence.

But here's where it gets interesting: while Altman is trying to pour cold water on the AGI party, he's simultaneously playing a game of "but wait, there's more!" In his recent blog post, he casually dropped that OpenAI knows "how to build AGI" and even teased that we might see superintelligence "in a few thousand days." That's like saying "Don't get excited about dinner tonight, but I'm totally planning the most amazing feast ever for next month."

Adding to the plot twist, OpenAI researcher Noam Brown chimed in with what could be the most Silicon Valley statement ever: there are "good reasons to be optimistic about further progress, but plenty of unsolved research problems remain." Translation: We're doing cool stuff, but maybe don't sell your car to invest in AGI stocks just yet.

Sam Altman publicly requests fans to reduce AGI expectations by 100x despite company's recent developments

OpenAI claims to know "how to build AGI" but insists they haven't achieved it yet

Silicon Valley debate continues over whether AI development has hit a scaling limit
 showing 27% probability of implementation in first 100 days

And there you have it, my wonderful PoI family! From Musk's memecoin-branded government efficiency to Trump's crypto-silence and the wave of questionable tokens flooding the market, it's been quite a day in the cryptosphere. As always, remember to DYOR (Do Your Own Research) and never invest more than you can afford to lose - especially when it comes to presidential memecoins!

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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