Day: May 25, 2025

Crypto investor charged with kidnapping, torturing an Italian for passwords

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A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets. John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month. According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by…

Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

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Australian Senator Gerard Rennick has drawn criticism from the Bitcoin community following his remarks referring to Bitcoin as a Ponzi scheme and questioning the asset’s value because it isn’t digestible. “You can’t eat Bitcoin,” Rennick said in a May 23 X post, responding to an X user who questioned his stance after Bitcoin hit a new all-time high of $111,970 on May 22. Rennick says Bitcoin will go to $1 million but is a “Ponzi Scheme” “Bitcoin will ultimately go to $1 million dollars. Why because it’s a Ponzi scheme…

Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood

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ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade. “I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button,” Wood said at the Solana Accelerate event in New York on May 23. Wallets remain an insurance policy, says Wood “So ETFs for those who want the convenience, I don’t think, will lose a…