A Chicago family and their nanny were kidnapped for five days in October by armed men demanding a ransom in cryptocurrency. The kidnappers stole $15 million in digital assets, including Bitcoin and Ether, and forced the victims to transfer funds from their crypto accounts before releasing them.
The incident began when one of the suspects pretended to be at the door to fix a damaged garage, only to overpower the family with a gun. The victims were then transported to an Airbnb and later to another location, where they were threatened with death unless they complied with the kidnappers’ demands.
FBI agents were able to track the suspects using surveillance footage and forensic evidence. The investigation led to six arrests, with one suspect, Zehuan Wei, apprehended while trying to re-enter the US in January. The remaining suspects are believed to have fled to China.
This case highlights the growing trend of crypto-related kidnappings, as criminals target individuals with access to digital currencies. Recently, other high-profile kidnappings for cryptocurrency ransom have also made headlines, including the abduction of a Ledger co-founder and a Toronto CEO.
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Swedish payments giant Klarna is considering integrating cryptocurrency into its services, marking a potential shift in its approach to digital assets. CEO Sebastian Siemiatkowski recently hinted at the company’s interest, asking his followers for ideas on how Klarna could embrace crypto. It comes as the firm prepares for a US initial public offering later this year, a move that could expand its influence in global financial markets.
Siemiatkowski acknowledged that Klarna is trailing behind competitors like PayPal and Revolut, both of which have already introduced a variety of crypto services. Industry leaders, including Circle CEO Jamie Allaire and Immutable’s Robbie Ferguson, have pitched ideas, suggesting stablecoin integration and crypto-friendly payment solutions. Klarna, which processes around $100 billion in transactions annually, could leverage its vast user base to bring digital assets into mainstream finance.
The CEO’s newfound enthusiasm for crypto contrasts with his earlier scepticism. In 2022, he dismissed Bitcoin as a “decentralised Ponzi scheme” and criticised high transaction fees. However, recent trends, including the rise of stablecoins and blockchain-based payments, seem to have reshaped his perspective. As Klarna moves towards its IPO, its evolving stance on digital assets could position it as a major player in the fintech-crypto convergence.
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James Howells, a Bitcoin miner from Newport, South Wales, is considering purchasing a local landfill where he believes his lost cryptocurrency, worth over £620 million ($768 million), is buried. Howells claims the hard drive containing 7,500 BTC, which he mined in 2009, was accidentally discarded at the landfill by his former partner in 2013. Despite a court ruling against his request last month, he continues to explore options, including buying the landfill outright.
The landfill contains over 1.4 million tonnes of waste, but Howells insists the hard drive is likely buried within a specific 100,000-tonne area. He has petitioned Newport City Council for permission to excavate the site, even offering a share of the fortune in return. However, the council has argued that local laws give them ownership over anything in the landfill, and the High Court dismissed Howells’ claims due to insufficient evidence and the passage of time.
Authorities plan to close the landfill in the 2025-2026 financial year and convert parts of it into a solar farm. Howells expressed shock at the decision, especially after the council argued that allowing the excavation would harm the people of Newport. Still, he has not ruled out escalating the case to the Supreme Court or purchasing the site, hoping that his lost Bitcoin could reach a value of $1.2 billion by 2026 if the market continues to rise.
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Hong Kong has officially recognised cryptocurrency as proof of assets for investment immigration, approving two cases where applicants used Bitcoin and Ethereum to meet the HK$30 million requirement. The latest approval, confirmed on 7 February, marks a significant step in integrating digital assets into the region’s financial and immigration policies.
The first case occurred in October 2024, when a Bitcoin holder successfully proved their wealth for residency. An Ethereum holder has followed suit, with both applicants coming from mainland China. Reports indicate that Invest Hong Kong, the government agency overseeing investment immigration, took a month to review the first case before approving it.
Despite this recognition, it remains uncertain whether direct cryptocurrency investments or crypto ETFs will count towards the required HK$30 million investment within six months of approval. Officials have specified that applicants must store their digital assets securely in cold wallets or on major exchanges such as Binance. With two more applicants under review, Hong Kong appears to be paving the way for broader crypto acceptance in its financial landscape.
The University of Austin is making history as the first US university to establish a dedicated Bitcoin investment fund. With a $5 million allocation from its $200 million endowment, the university sees Bitcoin as a long-term asset alongside traditional investments like stocks and real estate.
Chad Thevenot, senior vice president for advancement, confirmed the university’s commitment to holding Bitcoin for at least five years. The initiative, first announced in May, is being managed in partnership with Bitcoin financial services firm Unchained, which is responsible for securing the fund’s holdings.
While Austin is the first to launch a dedicated Bitcoin fund, other universities have already shown interest in crypto. Emory University recently disclosed a $15.1 million Bitcoin investment, while Stanford’s Blyth Fund allocated 7% of its portfolio to Bitcoin and later invested in BlackRock’s iShares Bitcoin ETF. As institutional adoption grows, Bitcoin’s role in university endowments appears to be expanding.
Elon Musk’s Department of Government Efficiency (DOGE) has saved US taxpayers $36.7 billion, sparking fresh calls for blockchain technology to bring transparency to government spending. According to Doge-tracker data, this represents just a fraction of Musk’s goal to cut $2 trillion in spending. Coinbase CEO Brian Armstrong praised the initiative, arguing that a blockchain-based treasury could provide real-time oversight of financial transactions.
In a recent breakthrough, DOGE identified a $100 billion loophole in government spending linked to entitlement payments to individuals without valid identification. Musk described this as ‘utterly insane,’ estimating at least half of these payments could be fraudulent. A new agreement with the US Treasury aims to close these gaps by enforcing stricter payment tracking and updating the “DO-NOT-PAY” list more frequently.
Crypto experts believe adopting blockchain for the US Treasury could position the country as a leader in financial transparency and innovation. Jean Rausis of Smardex stressed that any such system must remain decentralised to be truly effective. DOGE’s work is expected to conclude on 4 July 2026, with a plan to deliver a leaner, more efficient government in time for the US’s 250th Independence anniversary.
Tether and Reelly Tech have joined forces to integrate USDT into real estate transactions across the UAE. Their collaboration aims to enhance efficiency in property deals while educating real estate agents on the benefits of stablecoins. Reelly Tech, which connects over 30,000 agents globally, will work with Tether to launch an interactive educational series on USDT’s role in the market.
The initiative comes as the UAE’s real estate sector experiences record growth, with off-plan sales value reaching 283 billion AED in 2024, a 27.5% increase from the previous year. By positioning USDT as a reliable financial tool, the partnership seeks to provide seamless and secure property transactions for buyers, developers, and agents.
Tether has been expanding its presence in the region, supporting blockchain education and digital asset adoption through partnerships like its collaboration with RAK DAO. CEO Paolo Ardoino highlighted the UAE’s leadership in digital assets, calling it the ideal hub for innovation. In August 2024, Tether also announced plans to launch a stablecoin pegged to the UAE dirham, further strengthening its role in the region’s evolving financial landscape.
Czech President Petr Pavel recently signed a bill that exempts cryptocurrency users from paying taxes on long-term gains. Under the new legislation, crypto assets held for over three years will not be taxed when sold, and transactions up to CZK 100,000 (around $4,136) annually won’t require reporting on tax declarations, similar to securities.
The reform is part of the Czech Republic’s Digitalization of the Financial Markets Act, which is nearing its final stages. The bill will be officially published within the next week or two. As a member of the European Union, this move is seen as a significant step for the country’s crypto sector.
In a related development, the Czech National Bank recently approved a proposal by its governor to consider adding assets like Bitcoin to its reserves. However, European Central Bank President Christine Lagarde expressed her opposition, stating that she doesn’t foresee Bitcoin entering the reserves of EU central banks.
El Salvador has reversed its historic decision to make Bitcoin legal tender, following pressure from the International Monetary Fund (IMF). The law, enacted in 2021, required all businesses to accept Bitcoin alongside the US dollar, but many merchants struggled to adopt it. Widespread scepticism, technical issues, and Bitcoin’s volatility made it unpopular among the majority of Salvadorans.
While the policy brought some benefits, such as increased tourism and global attention, it failed to boost financial inclusion or significantly improve the economy. Reports show that by 2024, 92% of Salvadorans did not use Bitcoin for transactions, and only a small percentage of businesses accepted it. The Chivo wallet, launched to facilitate transactions, faced hacking incidents and technical difficulties, further eroding public trust.
The shift away from Bitcoin came after the IMF made it a condition for a $1.4 billion loan. El Salvador’s Congress agreed to remove Bitcoin’s legal tender status, ensuring that the government and businesses would no longer be required to accept it. However, Bitcoin remains legal for private trade, and the government has continued purchasing it, signalling an ongoing interest in cryptocurrency despite the policy change.
El Salvador has made another significant addition to its Bitcoin reserve, purchasing 12 BTC in just one day, as the cryptocurrency market saw a dip. The Central American country bought 11 Bitcoin for just over $1.1 million, with an average price of $101,816 per Bitcoin on 4 February. It later added one more BTC at $99,114, bringing its total Bitcoin holdings to 6,068 BTC, valued at over $554 million.
Despite a brief decline in Bitcoin’s price, which fell to around $96,000 before rebounding to approximately $98,000, El Salvador’s commitment to its Bitcoin strategy remains steadfast. The country’s Bitcoin Office proudly announced that El Salvador has accumulated 21 BTC in just one week and 60 BTC in the last 30 days, reinforcing the growth of its Strategic Bitcoin Reserve.
This latest round of Bitcoin purchases comes after President Nayib Bukele’s agreement with the International Monetary Fund (IMF) last month, where his government made adjustments to its Bitcoin policies. These included making Bitcoin adoption in the private sector voluntary and scaling back government involvement in the Chivo crypto wallet. However, the country’s commitment to acquiring Bitcoin remains unchanged, with further purchases planned for 2025.
Despite the IMF agreement, the government has shown no signs of abandoning its Bitcoin ambitions, continuing to buy Bitcoin even after the deal was struck. The country’s Bitcoin plans are expected to intensify, with El Salvador positioning itself as a global leader in Bitcoin adoption.
