Hey there, PoI readers! 💫

Mochi here, serving up today's hottest tech and web3 news fresh from the digital kitchen! We've got quite the feast today - from Trump Media's crypto venture and Telegram's wallet shake-up to Strategy's Bitcoin shopping spree and Canada's crypto margin crackdown. Grab your favorite beverage and let's dive into these juicy stories!

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INTEL BRIEF

🟧 Trump Media & Technology Group files trademarks for various ETFs including a Bitcoin-focused fund, aiming to align with MAGA campaign promises of energy independence and crypto adoption.

🟧 Telegram partners exclusively with TON Foundation, requiring all third-party crypto wallets to adopt TON Connect protocol by February 21st or face removal from the platform.

🟧 Strategy (formerly MicroStrategy) reports Q4 net loss of $670.8 million while continuing aggressive Bitcoin acquisition strategy, now holding over $45 billion in Bitcoin

🟧 Canadian Investment Regulatory Organization excludes crypto funds from reduced margin rates, citing volatility and regulatory concerns, making leveraged crypto trading more expensive.

Trump Media Launches Truth Bitcoin ETF to Shake Up MAGA Investment World

In a move that's getting crypto enthusiasts and MAGA supporters equally excited, Trump Media and Technology Group (TMTG) is diving headfirst into the world of digital assets and American energy independence. The company, majority-owned by former President Donald Trump, has just filed trademark registrations for a suite of ETFs and SMAs that would make Wall Street's traditional players do a double-take.

The Truth.Fi Bitcoin Plus ETF, which is part of a larger family of investment products including the Truth.Fi Made in America ETF and the Truth.Fi US Energy Independence ETF. With an initial investment kitty of up to $250 million being entrusted to Charles Schwab, this isn't just another meme-worthy headline – it's serious business.

TMTG's CEO Devin Nunes, who's apparently not too busy with his role as chairman of the President's Intelligence Advisory Board, claims these funds are the answer to what he believes are "woke funds and debanking problems" in the market. It's like they're saying, "You can have your Bitcoin and your American manufacturing too!"

The timing couldn't be more strategic, as Republican congressional leaders have just announced a working group focused on crypto and stablecoin legislation. Arkansas Representative French Hill summed it up perfectly: "We don't want to be behind in financial technology." Meanwhile, SEC Commissioner Hester Peirce is promising to clean up what she considers the "mess" left behind by former SEC Chair Gary Gensler regarding crypto regulations.

Trump Media launches Truth.Fi Bitcoin Plus ETF alongside other America-first investment products with a $250M initial investment

Republican leadership forms working group for crypto-friendly legislation

SEC Commissioner Peirce pledges to reform previous administration's crypto regulations

Telegram Forces All Crypto Wallets to Switch to TON Connect Protocol

Telegram has just dropped what some might call a "digital bombshell." The messaging giant has announced an exclusive partnership with The Open Network (TON) Foundation, effectively telling all third-party crypto wallets on its platform: "It's TON's way or the highway."

Well, imagine being told your favorite coffee shop now only accepts one type of credit card – that's essentially what's happening here in the crypto world. All third-party wallets must now exclusively use TON Connect as their wallet connection protocol, and they've got until February 21st to make the switch. This isn't just a simple software update; we're talking about bridging existing assets and migrating entire smart contracts to the TON network.

But wait, there's a plot twist! The Wallet in Telegram - you know, the default wallet service that comes with your Telegram app - is sitting pretty, completely unaffected by these changes. Why? Because it was already Team TON from the start!

For those crypto wallets that decide to resist this change (cue dramatic music), the future looks rather bleak. As the TON Foundation rather ominously stated, those who haven't adopted TON Connect after the migration period "won't be supported." That's corporate speak for "sayonara, folks!"

All third-party crypto wallets on Telegram must switch to TON Connect protocol

February 21st deadline for migration of assets and smart contracts to TON

Default Wallet in Telegram remains unaffected as it's already TON-based

Strategy Loses 670M Despite Aggressive 45B Bitcoin Buying Spree

MicroStrategy's recent name change to "Strategy" isn't the only big number they're dealing with! The Bitcoin-hungry firm just dropped their Q4 results, and let's just say they're going big or going home – mostly big on losses and even bigger on Bitcoin.

The company reported a whopping $670.8 million net loss in Q4, which might make some shareholders spill their coffee. But here's where it gets interesting: while they missed revenue estimates by a modest $2 million (reporting $120.7 million, down 3% year-over-year), they're playing a much bigger game with their audacious "21/21 Plan".

Speaking of big games, Strategy is halfway through their $42 billion capital plan, having already poured $20 billion into their Bitcoin shopping spree. How are they funding this crypto shopping extravaganza, you ask? Through a combination of senior convertible notes and debt – because who needs a piggy bank when you have institutional financing?

The result of all this Bitcoin bargain hunting? Strategy now sits atop a mountain of 471,107 Bitcoin, worth over $45 billion – making them the world's largest corporate Bitcoin holder. Talk about going from "Micro" to "Macro" strategy! Their expenses shot up by an eye-watering 700% year-over-year to $1.1 billion, proving that when Strategy says they're all in on Bitcoin, they really mean ALL in.

Strategy (formerly MicroStrategy) reports $670.8M net loss in Q4 2023

Company has executed $20B of their $42B "21/21 Plan" for Bitcoin acquisition

Now holds 471,107 Bitcoin worth $45B, making them the largest corporate holder

Canadian Regulators Block Crypto Funds From Reduced Trading Margins

The Canadian Investment Regulatory Organization (CIRO) has just given crypto funds the cold shoulder in their latest List of Securities Eligible for Reduced Margin (LSERM).

The announcement, dropped on February 5th, essentially tells crypto funds they'll need to sit at the high-margin table "until further notice." This means traders will need to pony up more collateral when trading crypto funds compared to their traditional cousins like stocks and ETFs.

What's particularly spicy about this decision is the increased risk of forced liquidations during market downturns. Without the cushiony comfort of reduced margin rates, crypto positions are more likely to get the boot when markets start doing their rollercoaster impression.

For the number crunchers out there, CIRO's requirements for reduced margin eligibility are pretty strict: securities need a price volatility margin interval of 25% or less, a minimum market value of 2 CA$ per share, and a public float value exceeding 100 million CA$. They also need to average 25,000 daily traded shares each month.

Crypto funds excluded from reduced margin rates in Canada

Higher collateral requirements make leveraged crypto trading more expensive

Securities need strict volatility and liquidity requirements for reduced margin eligibility

That's all for today's digital digest, PoI family! 🎯 From massive Bitcoin acquisitions to regulatory developments, we've covered quite the landscape. Remember to stay curious and keep your eyes on the ever-evolving web3 space. Until our next adventure in the cryptoverse, this is Mochi, your friendly neighborhood tech enthusiast, signing off!

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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