Hey there, PoI readers!

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Vitalik throwing shade at eyeball-scanning empires and OpenAI's talent exodus drama to Trump's surprising Bitcoin love and Binance's regulatory chess moves, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets!

INTEL BRIEF

🟧 Vitalik Buterin raises privacy concerns about Sam Altman's World project, arguing that its "one-per-person" identity system could eliminate pseudonymity and create surveillance risks.

🟧 OpenAI's Chief Research Officer admits to feeling "visceral" pain as Meta poaches eight senior researchers, prompting the company to scramble with compensation adjustments and retention efforts.

🟧 President Trump praises Bitcoin for taking "pressure off the dollar" and creating jobs, while analysts warn that mounting US debt and currency debasement make crypto adoption increasingly inevitable.

🟧 Kenyan crypto startups are crying foul over a Binance-linked lobby group getting a regulatory seat, fearing the exchange could manipulate local crypto rules in its favor.

Vitalik Buterin Just Called Out Sam Altman's Eyeball Scanning Project for Being a Privacy Nightmare

Ethereum's co-founder Vitalik just served up some serious side-eye to Sam Altman's World project (formerly known as Worldcoin, because apparently rebranding fixes everything)

For those who missed the memo, World is basically trying to solve the "are you human or are you ChatGPT?" problem by scanning your eyeballs and putting your identity on the blockchain. Yeah, you read that right – they want to turn your peepers into a digital passport. Very Black Mirror, very 2024.

Buterin acknowledges that on paper, World's approach sounds pretty neat. Using zero-knowledge proofs to verify you're human while keeping things anonymous?

This whole "one-per-person ID" thing could basically nuke pseudonymity as we know it. Buterin points out that in the real world, people need multiple accounts to protect themselves. Imagine if every tweet, every forum post, every digital breadcrumb could be traced back to your single, government-trackable identity.

Buterin drops some real-world tea about how the U.S. government now forces visa applicants to make their social media public for "hostility screening." His point? Even if your accounts seem separate, governments could force you to reveal your secret sauce and see everything you've ever done online.

Instead, Vitalik's pushing for "pluralistic identity" – basically a system where no single authority controls the identity game.

Vitalik critiques World's eyeball-scanning approach as potentially destroying online pseudonymity

"One-per-person ID" systems could enable mass surveillance and eliminate privacy protections

Buterin advocates for "pluralistic identity" systems with multiple verification methods instead

OpenAI Executives Are Having Meltdowns as Meta Poaches Their Top Researchers with Massive Paychecks

OpenAI is having a bit of a moment – and not the good kind. Chief Research Officer Mark Chen just dropped what might be the most dramatic Slack message in Silicon Valley history, comparing Meta's hiring spree to someone literally breaking into their house and stealing their stuff.

Meta has been going full shopping spree mode, snatching up eight OpenAI researchers. And honestly, you've got to respect the hustle.

Sam Altman has been whining on podcasts about Meta allegedly offering "$100 million signing bonuses." Now, Meta execs are internally going "hold up, that's not quite right," but let's be real – when you're throwing around numbers that big, does it really matter if it's $100 million or $90 million?

The panic is palpable at OpenAI HQ. Chen's memo reveals they've been working "around the clock" to basically beg people not to leave, "recalibrating comp" (corporate speak for "throwing more money at the problem"), and brainstorming "creative ways to recognize talent."

Meta poached eight OpenAI researchers, causing executive meltdowns and house-robbery analogies

OpenAI scrambling with compensation adjustments and "around the clock" retention efforts

Sam Altman claims Meta offered $100M signing bonuses, though Meta disputes the exact figures

President Trump Just Admitted Bitcoin Might Actually Save the US Dollar from Complete Collapse

President Trump just gave Bitcoin a presidential seal of approval, claiming it's taking "pressure off the dollar" and creating jobs. Who had "Trump becomes a crypto cheerleader" on their bingo card?

During Friday's White House presser, Trump went full fanboy mode, saying Bitcoin has become "amazing" and praising the jobs it creates. He even noted that more people are paying in Bitcoin now, which honestly sounds like he just discovered that crypto isn't just for buying questionable things on the dark web anymore.

Digital asset researcher Anders X suggests Trump's comments reference the Triffin Dilemma – basically the impossible juggling act where the US has to flood the world with dollars to maintain its reserve currency status, but doing so slowly destroys the dollar's value.

Trump previously floated the idea of paying off the national debt with Bitcoin. Critics quickly did the math and basically said "sir, even if we owned ALL the Bitcoin (currently worth about $2 trillion), we'd still be $35 trillion short of covering our debt."

Macroeconomist Lyn Alden dropped the phrase "nothing stops this train" – referring to governments' addiction to money printing. Meanwhile, the dollar index hit a three-year low on Thursday, and US bond yields are climbing, which is basically the market's way of saying "we're getting nervous about America's credit card bill."

Trump praised Bitcoin for relieving dollar pressure and creating jobs in the crypto sector

US faces the Triffin Dilemma – maintaining reserve currency status while slowly devaluing the dollar

"Nothing stops this train" of debt and money printing, making Bitcoin's fixed supply increasingly appealing

Binance Got Caught Red Handed Trying to Buy Their Way Into Kenya's Crypto Regulatory Board

Binance is allegedly pulling some classic "regulatory capture" moves in Kenya, and local crypto startups are not having it.

Kenya's proposed Virtual Asset Service Providers (VASP) Bill would put a group called the Virtual Asset Chamber of Commerce (VAC) on the regulatory board.

According to The Kenyan Wall Street, Binance reportedly pays VAC a cool $6,000 per month per country for "policy advocacy." That's some expensive lobbying! One frustrated stakeholder basically said what we're all thinking: "How is this constitutional?" when a private consulting firm with non-compete agreements with Binance magically gets a regulatory seat.

The fear is real among Kenyan crypto companies – they're worried this could turn into a Binance-favored regulatory environment that squashes local competition.

VAC's director Basil Ogolla defended the group, claiming they've been doing legitimate consultation work with the IMF and Kenya's Central Bank for two years. Fair enough, but when you're getting paid by the biggest player in the game, perception matters.

This fits Binance's global pattern of cozying up to governments worldwide. They've been signing MOUs left and right, advising on Bitcoin reserves, and even got former CEO CZ appointed as an adviser to Pakistan's Crypto Council.

Kenyan startups fear Binance-linked VAC could manipulate local crypto regulations in the exchange's favor

Binance allegedly pays VAC $6,000 monthly per country for policy advocacy work

Part of Binance's global strategy of deepening government ties and regulatory influence worldwide

And that's a wrap, my lovely PoI readers! 💎 I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From privacy battles to corporate poaching wars, from presidential crypto praise to regulatory capture concerns – the crypto world never fails to deliver the drama! Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. Every voice matters in the PoI community! 📣❤️ Share the newsletter and let's keep this digital revolution rolling!

🍨📰 Catch you in the next issue! 📰🍨