A Manhattan-based crypto investor has been charged with kidnapping an Italian man. He allegedly tortured the victim in an attempt to gain access to his Bitcoin wallet.
John Woeltz, 37, was arrested on 24 May and later appeared in court, where he pleaded not guilty to four felony charges, including kidnapping for ransom.
Police said the 28-year-old victim was held inside a rented townhouse in Soho after arriving in the US on 6 May. He was allegedly beaten, electroshocked, and threatened with a firearm when he refused to give up his wallet credentials.
The man eventually escaped and contacted the authorities. Photographs found at the scene appeared to show signs of ongoing abuse.
A woman was also taken into custody, although no charges were filed against her. Investigators have not confirmed whether any cryptocurrency was taken or what the relationship between the parties may have been.
The case comes as more crypto executives and investors seek private security due to a rise in ransom threats. In France, authorities have introduced extra protections for those in the crypto industry.
These measures follow several kidnapping incidents, including the abduction of Ledger co-founder David Balland earlier this year.
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AI agents are becoming common in crypto, embedded in wallets, trading bots and onchain assistants that automate decisions and tasks. At the core of many AI agents lies the Model Context Protocol (MCP), which controls their behaviour and interactions.
While MCP offers flexibility, it also opens up multiple security risks.
Security researchers at SlowMist have identified four main ways attackers could exploit AI agents via malicious plugins. These include data poisoning, JSON injection, function overrides, and cross-MCP calls, all of which can manipulate or disrupt an agent’s operations.
Unlike poisoning AI models during training, these attacks target real-time interactions and plugin behaviour.
The number of AI agents in crypto is growing rapidly, expected to reach over one million in 2025. Experts warn that failing to secure the AI layer early could expose crypto assets to serious threats, such as private key leaks or unauthorised access.
Developers are urged to enforce strict plugin verification, sanitise inputs, and apply least privilege access to prevent these vulnerabilities.
Building AI agents quickly without security measures risks costly breaches. While adding protections may be tedious, experts agree it is essential to protect crypto wallets and funds as AI agents become more widespread.
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Most top holders of the TRUMP meme coin sold or moved their tokens before attending Donald Trump’s exclusive crypto dinner on Thursday.
Only eight of the 25 wallets that earned VIP access still held TRUMP tokens the next day, data from Solscan shows.
Tron founder Justin Sun was among those who retained his holdings, keeping nearly all of the 1.43 million TRUMP tokens that secured his top spot on the leaderboard.
The wallet linked to MemeCore, a meme coin blockchain, also kept its full balance. However, most other wallets sent their tokens to centralised exchanges like Coinbase, Binance, or Wintermute.
The combined average holdings of the VIP group have dropped to roughly $2.11 million from around $4.78 million. The top two wallets now make up the bulk of the value, holding nearly $37.3 million combined.
Those who sold or transferred their coins will no longer qualify for the limited edition ‘diamond hand’ NFT, which was reserved for loyal holders.
The timing of the sales has raised concerns about potential ‘pay-to-play’ tactics. Some lawmakers say these investments aimed to buy access to Trump, leading to protests and a proposed bill to block his crypto profits.
Senators had already requested an ethics probe ahead of the dinner. Meanwhile, the TRUMP token has fallen 14% in the past 24 hours and is now down over 80% from its January peak.
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Islamabad plans to dedicate 2,000 megawatts of surplus electricity to support Bitcoin mining and AI data centres. The initiative aims to turn excess power into a driver for technology growth, as part of Pakistan’s wider digital infrastructure strategy.
Officials see the move as a way to boost tech industries and attract foreign investment.
The Pakistan Crypto Council, established earlier this year, leads the project. The country’s energy sector faces challenges from high tariffs and surplus generation, partly due to rapid solar power expansion.
Using excess electricity for crypto mining and AI data centres offers a productive solution to these issues.
Finance Minister Muhammad Aurangzeb recently approved the Pakistan Digital Assets Authority to regulate the growing crypto industry. He emphasised that regulation should help Pakistan not only catch up but take a leading role in the sector.
The PCC’s CEO Bilal Bin Saqib has engaged with the Power Minister to attract global crypto miners, describing Pakistan as a low-cost, high-growth market ready to compete.
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FIFA has picked Avalanche to power its own blockchain network, ending its partnership with Algorand. The move signals a major step in expanding FIFA’s Web3 ambitions and digital asset strategy.
The new platform, a custom Avalanche Layer-1 blockchain, offers faster transaction speeds, lower fees, and simple wallet access. FIFA Collect will migrate to the new network, with support for EVM wallets like MetaMask, starting after 20 May.
Ava Labs, which developed Avalanche, said the deal was secured thanks to the network’s 6,500+ transactions per second and enterprise-grade reliability. Modex CEO Francesco Abbate confirmed that FIFA chose Avalanche after a full review of scalability, costs, and performance.
FIFA’s NFT marketplace is not the only project in the works. The football body is exploring other digital products, including immersive fan experiences. Meanwhile, AVAX, Avalanche’s native token, saw a surge in trading volume following the announcement.
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Tether plans to launch a separate stablecoin for the US market while keeping USDT focused on unbanked users in emerging economies. CEO Paolo Ardoino said the new coin would be tailored to meet domestic needs, with features different from USDT.
He noted the company is becoming more comfortable with the proposed GENIUS Act and aims to comply. Ardoino also said the act is more practical than Europe’s MiCA rules, which Tether believes place unnecessary pressure on dollar-based reserves.
Tether’s main mission remains supporting the 1.4 billion unbanked adults worldwide, especially in regions like Sub-Saharan Africa and Asia. Ardoino said USDT is often used for remittances and savings, with many relying on its stability during economic crises.
The GENIUS Act, now advancing through the US Senate, distinguishes between domestic and foreign stablecoin issuers. Tether supports the act and wants clarity before launching a stablecoin tied to the US market.
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Five major US banking groups have asked the Securities and Exchange Commission (SEC) to drop its cyber security disclosure rule. The rule requires public companies to report incidents, such as data breaches, within four days.
The American Bankers Association and others said in a letter that the rule conflicts with systems built to protect critical infrastructure. They warned it may hurt law enforcement and cause market confusion.
The rule, introduced in July 2023, also affects crypto firms like Coinbase. However, the exchange recently reported a breach where hackers bribed staff for user data. Coinbase rejected a $20 million ransom but now faces at least seven lawsuits.
Banking groups want the SEC to remove Item 1.05 from Form 8-K rules. They argue investors would still be protected under existing rules for material information, without the risks of rushed public reporting.
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BlackRock’s iShares Bitcoin Trust (IBIT) has become the second-largest holder of Bitcoin, surpassing major industry players including Binance and Strategy. Only the wallet attributed to Bitcoin’s creator, Satoshi Nakamoto, holds more of the asset.
IBIT currently manages 636,108 BTC, which accounts for more than 3% of Bitcoin’s total supply and nearly 57% of Nakamoto’s estimated holdings.
The fund’s growth since its launch in January 2024 has been remarkable. With over $66.9 billion in net assets, IBIT now leads all Bitcoin ETFs by value.
Bloomberg analyst Eric Balchunas believes it could surpass Satoshi’s wallet by next summer—sooner if Bitcoin’s price reaches $150,000. Such a move would likely spark even stronger institutional interest.
Analysts say IBIT’s rise shows growing demand for regulated crypto access from advisers and retail investors. Bitcoin ETFs are outperforming gold funds, and BlackRock’s push highlights a major shift in global investment strategies.
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The White House is backing a plan to regulate stablecoins. Trump adviser David Sacks says it could bring trillions into US government bonds almost overnight.
He believes the GENIUS Act will give clear rules for stablecoins, which are currently unregulated. There’s already more than $200 billion in circulation, and legal clarity could unlock massive demand.
The bill passed a key Senate vote this week, with 66 senators in support, including 15 Democrats. Sacks says the administration expects it to pass fully and sees it as a way to modernise payments in the US.
He called stablecoins a faster, cheaper way to move money and said the bill would bring dollar-backed tokens under proper oversight.
But there are concerns over Trump’s links to the crypto world. His family supports World Liberty Financial, which recently launched a stablecoin called USD1. It is backed by US government bonds and dollar deposits.
The bill may still face delays. Senator Josh Hawley added a last-minute change to cap late payment charges on credit cards, which banking groups strongly oppose.
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Crypto ownership in Singapore fell from 40% to 29% in 2024, as more investors sold off their holdings. Nearly half of holders exited the market, and most walked away with a profit.
According to the 2025 Independent Reserve Cryptocurrency Index, 67% of those who sold made gains. The platform’s CEO, Lasanka Perera, said this shift was less about losing interest and more a ‘recalibration’ of investment priorities.
Many investors are favouring cash or fixed deposits, with 49% choosing these safer options, up from 42% last year. Stocks still remain more popular, with nearly half of Singaporeans investing in them, compared to just one in five who now hold crypto.
Confidence among remaining holders is steady. Bitcoin and Ethereum continue to dominate portfolios, and over half say they plan to buy more in the next year. Meanwhile, 52% of crypto users have already used digital assets for payments, with growing interest in doing so more often.
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