Invest ideasNews
28 Jan 2026, 05:29
Senior Thai Electricity Officials Caught in Illegal Crypto Mining Scandal
Thailand’s special investigation force (DSI) has exposed four senior officials from the Provincial Electricity Authority (PEA) for allegedly abusing their authority to operate an illegal Bitcoin mining syndicate. Thousands of illegal mining rigs were confiscated from an assistant PEA governor, with cash deposits worth 19 million baht ($612.9K). The Bangkok Post reported Tuesday that DSI raided three houses, seizing mining equipment, cash, laptops, phones and bank passbooks. “Operation Copperhead” – Wider Crackdown on Illegal Bitcoin Mining Operations The raids conducted by the DSI were a part of “operation copperhead,” launched in December 2025, said Police Maj General Rutthapon Naowarat. The operation targets criminal networks operating in Thailand, focusing on money laundering and seizing illegal assets. On January 19, the DSI officials seized 3,642 crypto mining rigs, discovering evidence linking them to financiers and state officials. The accused PEA officials include an assistant governor, a regional-level deputy manager, a technician and a service division employee who retired in 2025. Thorough searches were carried out in Bangkok, Nonthaburi and Samut Sakhon provinces, the report noted. Additionally, the investigators found that the accused PEA officials used their authority to arrange warehousing, facilitating electricity supply and transformer access for the mining hub. They reportedly accepted monthly kickbacks of up to 400,000 baht. “Legal action would be taken against all offenders without exception, regardless of rank or position,” said Pol Capt Khemachart Prakaihongmanee, director of the DSI’s Technology and Cyber Crime Bureau. “The case would be expedited and forwarded to the National Anti-Corruption Commission for further action.” Thailand Tightens Crypto Oversight, Keeps Illegal Operations at Check The nation has already been tightening oversight on digital assets , ordering a broad crackdown on ‘grey money’ – funds that move through legal-looking channels but often trace back to criminal syndicates and illicit activities. Besides, in January 2025, the PEA uncovered a Bitcoin mining farm in Chonburi for tampering with power meters to steal electricity. About 996 mining rigs were seized in the crackdown. However, the issue of illegal Bitcoin mining is not confined to Thailand. It is part of a broader global issue. For instance, Russia saw “millions of dollars per year” in electricity and lost taxes tied to crypto mining last year. As a result, the nation’s Justice Ministry proposed prison sentences up to 5 years and fines reaching 2.5 million rubles for unregistered crypto mining operations. The post Senior Thai Electricity Officials Caught in Illegal Crypto Mining Scandal appeared first on Cryptonews .
28 Jan 2026, 05:28
Steak ’n Shake Ups Bitcoin Bet with $5 Million Boost to Crypto Reserve
Steak ’n Shake has expanded its Bitcoin BTC holdings by adding another $5 million to its Strategic Bitcoin Reserve .
28 Jan 2026, 05:27
South Dakota advances Bitcoin investment with updated bill
A member of the South Dakota House of Representatives has revived a bill that was put on hold approximately a year ago by introducing a new measure that would allow the state to invest public funds in Bitcoin. Representative Logan Manhart proposed the Bitcoin reserve bill, HB 1155, on Tuesday in South Dakota’s legislature. HB 1155 would allow the State Investment Council to devote up to 10% of state revenues to Bitcoin in an effort to promote “strong money” and a “strong state.” South Dakota advances Bitcoin investment with updated bill Under the revised bill, any Bitcoin purchased as an investment would need to be held either directly by the State Investment Council using a secure custody solution or by a competent custodian acting on its behalf. As an alternative, a regulated investment company would offer an exchange-traded product that exposes the state to Bitcoin. The proposed bill mandates that private keys be kept in a hardware-secured, encrypted environment and used exclusively via end-to-end encrypted channels. These private keys must also be under the sole authority of the State Investment Council. According to the bill, the custody system must enforce strict access rules and rely on password-less authentication stored on government devices. The law further requires private-key hardware to be kept in at least two geographically distinct, secure data centers to reduce operational and security risks. It also requires a multi-party governance structure where all user actions are tracked and recorded to authorize transactions. Under the law, the custody provider is also required to maintain a disaster recovery strategy, conduct frequent code audits, and penetration tests of its systems. Following the new custody and security provisions, the overall proposal remains unchanged, largely mirroring Manhart’s earlier 2025 plan. Under the earlier proposal, the Bitcoin reserve bill would legally add Bitcoin to the list of assets the State Investment Council is permitted to own, alongside traditional securities such as government bonds and exchange-traded funds (ETFs). However, if the legislature passes the revised bill and signs it into law, South Dakota would join a few U.S. states that have enacted legislation regarding cryptocurrency or Bitcoin reserves. As of January 2026, Texas, Arizona, and New Hampshire had enacted legislation permitting their states to store confiscated crypto or invest in Bitcoin. However, legislators in other states have put out legislation along these lines. Federal Bitcoin reserve faces legal barriers On January 16, West Virginia State Senator Chris Rose introduced legislation known as “the Inflation Protection Act” that would modify the state’s code to permit the treasury to invest in precious metals, certain digital assets, and stablecoins. Under the bill, Rose proposed that the state’s board of treasury be allowed to make investments in stablecoins, digital assets with a market valuation of more than $750 billion from the prior year, and precious metals. According to the bill, any digital asset purchased by the state’s treasury may be held by a qualified custodian, through a safe custody solution, or in an exchange-traded product (ETP). The U.S. government or certain state governments would have to grant regulatory approval for any stablecoins that were purchased. The bill was presented during the U.S. Senate’s postponement of a markup for a bill that would create a structure for the U.S. market for digital assets. If the bill is approved and signed into law, the state’s treasury could be exposed to Bitcoin, the only crypto asset to meet the market cap requirement as of January. However, there are still legal and administrative challenges in the way of federal efforts to create a U.S. Bitcoin reserve. White House Crypto Council Director Patrick Witt noted that although President Trump signed an executive order in March 2025 establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, its implementation has been slowed by complex legal provisions. He also pointed out that the executive order did not explicitly permit direct Bitcoin purchases. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
28 Jan 2026, 05:27
Top stablecoins shrink as crypto cash flees, posing risk to bitcoin's bounce
USDC leads the decline in the market cap of top stablecoins, posing risk to crypto market valuations.
28 Jan 2026, 05:17
LDO Weekly Analysis: January 28, 2026 Market Structure and Strategic Outlook
LDO is consolidating at $0.52 while maintaining its downtrend structure; $0.4856 critical support. BTC bearish correlation is increasing altcoin caution – breakout levels decisive.
28 Jan 2026, 05:08
Solana (SOL) Recovery Reaches A Level That Changes Everything
Solana started a recovery wave above the $125 zone. SOL price is now consolidating and faces hurdles near the $128 zone. SOL price started a decent recovery wave above $122 and $125 against the US Dollar. The price is now trading above $125 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $124 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could continue to move up if it clears $128 and $130. Solana Price Faces Resistance Solana price remained stable and started a decent recovery wave from $118, like Bitcoin and Ethereum . SOL was able to climb above the $122 level. There was a move above the 61.8% Fib retracement level of the downward move from the $132 swing high to the $117 low. Besides, there was a break above a key bearish trend line with resistance at $124 on the hourly chart of the SOL/USD pair. The bulls even pushed the price above $125. However, the bears remained active near $128. Solana is now trading above $125 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $128 level, and the 76.4% Fib retracement level of the downward move from the $132 swing high to the $117 low. The next major resistance is near the $130 level. The main resistance could be $135. A successful close above the $135 resistance zone could set the pace for another steady increase. The next key resistance is $142. Any more gains might send the price toward the $145 level. Another Decline In SOL? If SOL fails to rise above the $128 resistance, it could continue to move down. Initial support on the downside is near the $124.50 zone. The first major support is near the $122 level. A break below the $122 level might send the price toward the $117 support zone. If there is a close below the $117 support, the price could decline toward the $105 zone in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $125 and $122. Major Resistance Levels – $128 and $130.
