Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From WhatsApp's epic scammer takedown and Indonesia's Bitcoin flip-flopping to Figure Technology's IPO ambitions and ElevenLabs teaching AI to rap, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets and tech innovations!

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INTEL BRIEF

🟧 WhatsApp is rolling out new anti-scam features and has nuked over 6.8 million sketchy accounts while partnering with OpenAI to bust a Cambodian scam ring.

🟧 Indonesia is reportedly exploring Bitcoin as a national reserve asset while simultaneously hiking crypto taxes, because apparently mixed signals are the new black in government policy.

🟧 Figure Technology just joined the crypto IPO party by filing with the SEC, following Circle's $6.9 billion success story and potentially kicking off what could be the hottest crypto IPO season since sliced bread.

🟧 ElevenLabs just dropped an AI music generator that's supposedly cleared for commercial use, complete with licensing deals and a synthetic rapper that sounds uncomfortably familiar.

WhatsApp Goes Full Bouncer Mode and Destroys 6.8 Million Scammer Accounts

The Meta-owned messaging giant just dropped some serious intel about their new anti-scam arsenal, and honestly, it's about time.

WhatsApp has reportedly taken down over 6.8 million accounts linked to criminal scam centers. That's more accounts than there are people in Switzerland, folks! These weren't just your garden-variety "you've won a lottery you never entered" messages either.

The platform is rolling out some pretty clever new features to keep us safe from digital con artists. For group chats, they're introducing a "safety overview" that pops up when some random person adds you to a group you definitely didn't ask to join. Think of it as WhatsApp's version of a digital doorman - it'll tell you if the person adding you is in your contacts, whether any group members are your actual friends, and basically give you the 411 before you accidentally join "Crypto Millionaires Anonymous.”

For individual chats, WhatsApp is testing ways to warn you when chatting with strangers who might be trying to separate you from your hard-earned cash. The app will show additional context about mystery messengers.

Perhaps most interesting is WhatsApp's collaboration with OpenAI to bust a Cambodian scam operation. These scammers were apparently using ChatGPT to craft their initial bait messages (the irony is not lost on us), then herding victims to Telegram for fake TikTok-liking schemes that eventually led to crypto "investments." It's believed to be a sophisticated operation that combined AI-generated content with good old-fashioned pyramid scheming.

WhatsApp nuked 6.8 million scam accounts and launched new safety features for groups and individual chats

New "safety overview" shows context when strangers add you to groups you don't recognize

Partnership with OpenAI helped bust a Cambodian scam ring using ChatGPT to generate initial scam messages

Indonesia Explores Bitcoin Reserve While Simultaneously Tax Bombing Crypto Users

Indonesia - the land of over 280 million people and the world's 16th largest economy - is apparently having a bit of an identity crisis when it comes to Bitcoin. On one hand, they're allegedly exploring it as a national reserve strategy. On the other hand, they just doubled crypto taxes.

According to Bitcoin Indonesia, they recently got the VIP treatment at the Vice President's office to pitch how Bitcoin could benefit the country. Presenting predictions that Bitcoin could hit $13 million by 2045 (base case) or even $49 million.

The group reportedly explored using Bitcoin mining as a national reserve strategy, which actually makes some sense given Indonesia's abundant hydroelectric and geothermal resources. It's speculated that this could fuel economic growth and job creation, similar to what other Bitcoin-friendly nations have experienced. The presentation was believed to have been delivered to special staff from Vice President Gibran Rakabuming Raka's office, who apparently agreed that Bitcoin education should be a priority.

Indonesian sambal - while one government office is allegedly listening to Bitcoin pitches, another just went full tax-happy on crypto activities. The Finance Ministry recently more than doubled income tax on crypto sales via local exchanges (from 0.1% to 0.21%) and quintupled taxes on foreign exchange sales (0.2% to 1%). Even crypto mining got hit with a doubled value-added tax from 1.1% to 2.2%.

Indonesia's crypto stance is more confusing than assembling IKEA furniture blindfolded. They allow crypto trading but ban crypto payments - a policy that's been in place since 2017.

Bitcoin Indonesia pitched Bitcoin as a national reserve strategy to the Vice President's office, citing economic benefits

Indonesia just doubled crypto taxes on trading and mining activities despite exploring Bitcoin adoption

Crypto payment ban exists but enforcement is lax, with Bali real estate openly accepting Bitcoin payments

Figure Technology Files for IPO After Hitting 30 Billion Dollar Blockchain Milestone

Figure Technology Solutions just dropped their confidential IPO filing with the SEC, and honestly, the timing couldn't be more perfect.

Figure Technology, which has been busy transforming financial services through blockchain technology, reportedly submitted their IPO paperwork on Monday for an equity securities offering expected sometime in 2025. The exact number of shares and price range are still TBD, subject to market conditions and the SEC's review process.

What makes Figure particularly interesting is their Provenance Blockchain - a public, proof-of-stake blockchain they built back in 2018 specifically to tackle data control issues in financial services. It's believed to be designed for lending and real-world asset (RWA) tokenization.

Figure reportedly surpassed $30 billion in onchain loans and securities transactions by March 2024. That milestone came just three days after they announced a $60 million Series A funding round to launch Figure Markets, which they're speculating could become their "everything exchange" for crypto, tokenized stocks, and securities.

But Figure isn't flying solo in this IPO adventure. The crypto IPO wave seems to be gaining serious momentum, with Circle's spectacular debut potentially setting the stage for what could be an epic 2025 IPO season. Circle, the issuer of the world's second-largest stablecoin USDC, reportedly achieved a $6.9 billion valuation when it hit the NYSE, after upsizing its IPO to over $1.05 billion.

Grayscale filed their confidential IPO paperwork in July, and Bullish is believed to be eyeing a $4.2 billion valuation while planning to raise up to $629 million.

Figure Technology filed for IPO after surpassing $30 billion in onchain transactions and raising $60 million Series A

Circle's $6.9 billion NYSE debut is believed to have sparked a crypto IPO trend for 2025

Multiple crypto companies including Grayscale and Bullish are joining the traditional markets rush

ElevenLabs Drops AI Music Generator That Actually Cleared Legal Hurdles

ElevenLabs - the AI audio unicorn that's been making computers sound more human - just decided to teach artificial intelligence how to make music. And honestly, the results are both impressive and slightly terrifying.

The company, which has spent its three years of existence perfecting text-to-speech AI and conversational bots, just announced their new AI music generator that's allegedly cleared for commercial use. That last part is crucial because, as we've learned from recent legal drama, making AI music without proper licensing is about as smart as poking a sleeping bear with a copyright stick.

ElevenLabs shared some sample tracks to showcase their new toy, including a synthetic voice rapping about coming up "through the cracks with ambition" and traveling from "Compton to the Cosmos." Now, call us crazy, but hearing a computer channel the influences of Dr. Dre, N.W.A., and Kendrick Lamar.

The timing of this launch is particularly interesting given the legal minefield that AI music generation has become. Last year, companies like Suno and Udio got slapped with lawsuits by the Recording Industry Association of America (RIAA) for allegedly training their models on copyrighted material without permission. These companies are now reportedly scrambling to negotiate licensing deals with major record labels.

ElevenLabs appears to be playing it smart - they've reportedly secured deals with Merlin Network and Kobalt Music Group, two major digital publishing platforms. Merlin represents heavy hitters like Adele, Nirvana, and Phoebe Bridgers, while Kobalt's roster includes Beck, Bon Iver, and Childish Gambino.

According to Kobalt, artists have to voluntarily opt-in for their music to be used for AI training,

and they get a cut of the profits through revenue sharing. It's believed to be a win-win situation that opens new revenue streams while providing "strong safeguards against infringement and misuse."

ElevenLabs launched AI music generator with claimed commercial clearance and proper licensing deals

Sample tracks include synthetic rap that uncomfortably channels real artists' styles and experiences

Secured partnerships with Merlin Network and Kobalt Music Group for legal training data with artist opt-in requirements

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 anti-scam tech to AI-generated beats, today's lineup proved that the intersection of technology and finance never fails to surprise us. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

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