News
12 Aug 2025, 13:49
Kazakhstan Authorities Bust $16.5M Illegal Power Scheme for Crypto Miners
Kazakhstan authorities have dismantled an illicit electricity supply scheme worth an estimated $16.5 million that powered cryptocurrency miners in violation of national regulations. Key Takeaways: Kazakh authorities shut down a $16.5M illegal power scheme. Mining firms received over 50 megawatt-hours of electricity in violation of rules. Kazakhstan is tightening mining regulations while advancing plans for a state crypto reserve. The Department of Financial Monitoring (DFM) for the East Kazakhstan region, working with the National Security Committee (NSC), found that several electricity companies had illegally diverted power over the past two years. The diverted electricity was meant for the public and strategically important enterprises but was supplied to mining firms instead. Kazakhstan Law Limits Crypto Miners to State-Run Power Platform Under Kazakhstan’s Digital Assets Law (No. 194-VII), miners are required to source electricity exclusively through the Ministry of Energy’s state-run platform and may only tap into the national grid during documented surpluses. Officials say the companies bypassed these rules, supplying miners with over 50 megawatt-hours of electricity, enough to power a city of up to 70,000 residents. “With the criminal proceeds, the organizer purchased two apartments and four cars in the capital. These assets have been frozen by court order for potential confiscation,” authorities stated. Once a global hotspot for crypto mining following China’s 2021 crackdown, Kazakhstan has tightened its energy and licensing rules, citing concerns over power shortages and strain on infrastructure. The regulatory shift has triggered a wave of miner departures, with Bitcoin mining rig maker Canaan among the latest to exit the country. This is Kazakhstan: – 10% flat tax & 0% wealth tax – Former #2 Bitcoin mining nation globally – World's first Solana Economic Zone launched 2025 The 9th largest country is now a hidden crypto laboratory. Here are 8 reasons why Kazakhstan should be on your radar: pic.twitter.com/4gzutNIO0n — Alessandro Palombo (@thealepalombo) July 11, 2025 In June, Kazakhstan officially announced plans to establish a state crypto reserve , with National Bank Chairman Timur Suleimenov revealing that confiscated criminal assets and state-backed mining operations will serve as primary funding sources. Suleimenov outlined that the reserve will follow international best practices for sovereign fund management. President Kassym-Jomart Tokayev has also unveiled plans for “CryptoCity” , a pilot zone where cryptocurrencies can be used for everyday payments, signaling the government’s commitment to real-world crypto adoption. The proposed crypto banking system will provide integrated services including digital asset exchange, storage, and transaction processing within regulated parameters. Russia Uses Kyrgyz Crypto Hub to Evade Sanctions As reported, Russian entities are exploiting Kyrgyzstan’s crypto infrastructure to bypass international sanctions and procure dual-use goods for use in Ukraine. Following the passage of Kyrgyzstan’s “On Virtual Assets” law in January 2022, just weeks before Russia’s full-scale invasion of Ukraine, the country has transformed into a burgeoning crypto hub. The law introduced formal licensing and oversight for virtual asset service providers (VASPs), paving the way for a rapid influx of new firms and exchanges. By October 2024, 126 VASP licenses had been issued, and transaction volumes had surged from $59 million in 2022 to $4.2 billion in the first seven months of 2024 alone. However, that boom has opened the door to abuse. According to TRM Labs, numerous Kyrgyz-registered exchanges appear to serve as shell entities, with multiple firms reusing the same addresses, contact information, and founders. The post Kazakhstan Authorities Bust $16.5M Illegal Power Scheme for Crypto Miners appeared first on Cryptonews .
12 Aug 2025, 13:49
Who is Patrick Witt, President Trump's Next Senior Adviser on Crypto?
President Donald Trump's crypto adviser, Bo Hines, exited after only months on the job, and the next in line — his deputy, Patrick Witt — will apparently be shepherding the industry's political priorities in Washington as it still seeks industry-wide regulations and the institution of a federal crypto stockpile. Witt shares a remarkably similar history with Hines – both ex-football stars who played at Yale before seeking law degrees and falling short in bids for Congress. Witt had a brief stint as a free-agent quarterback for the New Orleans Saints after leading the Yale Bulldogs team that Hines later played on as wide receiver. Both ex-athletes tied their political careers closely to Trump in recent years, and Witt will now be the chief industry liaison for Trump's White House, according to his social-media profile on X that references the title Hines left behind. As executive director of the President's Council of Advisers on Digital Assets, Witt ascends to the role without a significant crypto background, though Hines also occupied the role without a deep digital assets past. "We've had the pleasure of working with Patrick throughout the year and look forward to him continuing to implement policies that will make the United States this global hub of crypto innovation and development," said Miller Whitehouse-Levine, CEO of the Solana Policy Institute, in a statement. When Witt helped introduce Trump at a rally in 2022, he told the crowd that "government, too often, is the problem." But the graduate of Harvard Law School spent some time serving at the federal level and describes himself as a "public servant" on his LinkedIn account. Witt has a few of the common resume staples of D.C. careers: Three years at McKinsey & Co., and past stints at the Office of Personnel Management in the first Trump presidency and some time at the Department of Defense. But in his home state of Georgia, his political career hadn't yet found momentum, with a failed bid to be the state's insurance commissioner (under a promise to " keep your insurance from going woke ") and a brief effort to run for Congress. Though his predecessor at the White House recently celebrated the significant win of the first U.S. crypto legislation to establish a law governing stablecoins, Hines left a major to-do list. When Congress returns from its summer break, Witt will have to get a handle on progress toward a Senate version of the House-passed Digital Asset Market Clarity Act. Hines had also been closely monitoring developments in the formation of what the administration calls its Bitcoin Strategic Reserve — a project the industry has been eager to see progress on since an order from Trump earlier this year started work on it "I love this community and all we’ve built together," Hines said in a farewell posting on X , surprising the industry by leaving after less than a year on the job. "As I return to the private sector, I look forward to continuing my support for the crypto ecosystem as it thrives here in the United States." Witt re-posted that sentiment but hasn't yet made his own agenda clear. The White House didn't immediately respond to a request for comment on his promotion. Trump's most senior crypto policy chief, David Sacks, remains in his position. Read More: Why Doesn't the U.S. Have a Bitcoin Reserve, Yet?
12 Aug 2025, 13:47
Cardano, XRP are rallying, but this payment token is crushing both in 2025 gains
There’s an ongoing battle between Ripple (XRP) and Cardano (ADA) as they compete for top-performing altcoins this quarter. While Cardano upgrades are gathering momentum, and XRP price potential attracts more interest, there’s increasing competition from a fast-growing PayFi sensation that’s already surging, Remittix (RTX) . This low-cap crypto gem is on the rise with growth and profit delivery. Can XRP price smash $5 this year? Market sentiments around the XRP price prediction have been positive, with the altcoin gaining more market share and displaying technical strength. This PayFi OG recently broke out of a bullish flag pattern on the weekly chart, which often signals continued uptrends. According to popular analyst, Ali Martinez , the XRP price could reach $5 in the short term and make a further run toward $11, provided the momentum persists and overall sentiment remains positive. Source: Ali Martinez Is Cardano Heading for a Breakout? Cardano (ADA) is smashing through its long-term descending triangle, which suggests a momentum shift. As the Cardano price continues to trade above 0.64, the next resistance levels are set at 0.85 and 0.93. With the recent rise in whale accumulation and 75.42 percent of the square positions on large platforms going long, this bullish projection is confirmed. Cardano’s recent bullish momentum could see ADA reach anywhere between $1.00 and $1.50, with longer-term forecasts tipping growth to $3.00. Still, these resistance levels will test Cardano’s improvement, and it must strengthen its volume rise. Source: TradingView Can the Remittix DeFi Project Outshine Cardano and XRP Price Predictions? While Cardano and XRP price predictions labor through their respective obstacles, Remittix continues its remarkable ascent. Having raised over $18.9 million with a 40% token bonus still live for early and savvy investors, Remittix is set to explode in profits and potentially record more widespread adoption. But, more reasons are making Remittix one to watch this year: Delivers real utility with simplified cross-border crypto-to-fiat remittances Thriving user base of investors and utility users across the world Imminent Q3 wallet launch set to skyrocket token demand Growing anticipation ahead of CEX listing reveal once funding reaches $20 million As XRP price and Cardano upgrades focus on smashing through resistance levels, Remittix rise through organic interest continues. Thanks to its real-world use case and more upgrades ahead, this could be a future market leader. Discover the future of PayFi with Remittix by checking out their project here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix $250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway The post Cardano, XRP are rallying, but this payment token is crushing both in 2025 gains appeared first on Invezz
12 Aug 2025, 13:47
VivoPower selects Crypto.com for its crypto treasury holdings and mining operations
VivoPower International PLC has entered into a strategic partnership with Crypto.com, aiming to strengthen its position in the fast-evolving digital asset sector. The agreement covers both the company’s digital asset treasury holdings and the mining operations of its Caret subsidiary. Notably, this move marks a significant step in VivoPower’s ongoing transformation into an XRP-focused digital asset enterprise. Crypto.com Custody to offer custody services for VivoPower Under the arrangement, Crypto.com Custody will provide institutional-grade custody services across multiple international jurisdictions. The platform is designed to deliver high-security solutions for institutional and high-net-worth clients, ensuring that assets are managed with stringent safety protocols. By tapping into Crypto.com’s infrastructure, VivoPower secures a more sophisticated and scalable custody system for its digital holdings. This is a critical component for any company managing substantial cryptocurrency reserves, particularly when those holdings are central to its strategic direction. Expanding investor access and liquidity Beyond custody, the partnership opens new market access for VivoPower shares. Through Crypto.com’s broker-dealer platform, VVPR shares will become available to a reported 150 million crypto-native users worldwide. This integration has the potential to expand liquidity significantly, bridging the gap between traditional equity investors and the rapidly growing cryptocurrency community. For traders, this means that the VVPR stock will now be accessible through a platform they already use for digital assets, offering a smoother and more familiar trading experience. The increased exposure could translate into greater market activity and a broader shareholder base. Strengthening VivoPower’s XRP-focused strategy VivoPower has been clear about its pivot toward an XRP-centric digital asset strategy. This partnership reinforces that commitment by giving shareholders access to liquidity for XRP and other digital assets. It also includes the opportunity to participate in upcoming XRP restaking through Flare, a platform with which VivoPower already has a working relationship. Kevin Chin, Executive Chairman of VivoPower, said the deal provides not only operational advantages but also strategic value. By aligning with a recognised name in the crypto sector, the company gains added credibility in both the traditional finance and digital asset spaces. The cross-market appeal This collaboration is more than a technical upgrade; it is a bridge between two investment worlds. Crypto.com’s presence in the crypto-native market and VivoPower’s listing on NASDAQ combine to create a unique investment proposition. The arrangement appeals to conventional investors looking for digital asset exposure and crypto traders interested in equity plays linked to blockchain adoption. Eric Anziani, President and COO of Crypto.com, described the platform as “purpose-built for today and tomorrow’s market,” underscoring its readiness to serve both institutional and retail participants. For VivoPower, this partnership could accelerate its growth trajectory while solidifying its reputation as a forward-looking, blockchain-integrated enterprise. The post VivoPower selects Crypto.com for its crypto treasury holdings and mining operations appeared first on Invezz
12 Aug 2025, 13:46
Shiba Inu Coin (SHIB) Up 218% in 48 Hours of Extaordinary Whale Activity
Shiba Inu coin (SHIB) whales buying dip, inside is 218% on-chain proof
12 Aug 2025, 13:45
Transak Unlocks Future: $16M Boosts Stablecoin Payments Revolution
BitcoinWorld Transak Unlocks Future: $16M Boosts Stablecoin Payments Revolution In a significant stride for the blockchain ecosystem, Transak, a prominent Web3 payments firm, recently secured a substantial $16 million in a strategic funding round. This pivotal investment aims to dramatically expand its stablecoin payments stack, paving the way for broader global adoption of digital assets. The news has created quite a buzz, highlighting the growing confidence in decentralized finance solutions. What Does This Investment Mean for Web3 Payments ? The strategic round saw co-leadership from industry heavyweights IDG Capital and Tether, with notable participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures. According to CoinDesk, the funds are specifically earmarked for enhancing Transak’s existing infrastructure and venturing into new markets. This capital injection signals a strong belief in the future of decentralized finance and how we interact with digital money. Transak’s core mission is to simplify the onboarding process from traditional finance to Web3. This fresh capital significantly accelerates that goal, making it easier for everyday users to access and utilize cryptocurrencies. Why Are Stablecoin Payments Crucial for Global Crypto Payments ? Stablecoins offer a unique blend of blockchain’s efficiency with the stability of traditional fiat currencies. Unlike volatile cryptocurrencies, their pegged value makes them ideal for everyday transactions, remittances, and cross-border trade. They effectively overcome price fluctuations, which is a major barrier for widespread crypto payments adoption. For businesses and individuals alike, the predictability of stablecoins makes them a reliable medium of exchange. This fosters greater trust in the digital economy and encourages more widespread use. Furthermore, stablecoins facilitate faster and often cheaper international transfers compared to traditional banking systems, opening up new possibilities for global commerce. Transak’s Role in Streamlining Digital Currency Access Transak currently provides essential on-ramp and off-ramp solutions, allowing users to convert fiat currency to crypto and vice versa seamlessly. This new funding will empower Transak to refine its existing services, making the transition to digital currency even smoother and more intuitive. Imagine easily paying for goods or services using stablecoins, or receiving payments globally without the complexities of traditional banking. Transak is actively building the bridges that connect the traditional financial world with the innovative Web3 ecosystem. Their unwavering focus on user experience is key to unlocking mass adoption for cryptocurrencies. The Path Ahead for Transak and Expanding Global Reach With this significant capital infusion, Transak is set to broaden its market presence, targeting regions ripe for digital asset innovation. This expansion means more individuals and businesses will gain access to efficient, Transak -powered payment solutions. The strategic backing from major players like Tether highlights the industry’s strong confidence in Transak’s vision to become a cornerstone of the future financial infrastructure. Expect to see Transak’s enhanced stablecoin payments capabilities integrated into more platforms and applications worldwide. This truly marks a significant step towards a more interconnected and accessible financial future, benefiting users across the globe. Transak’s journey is a testament to the evolving landscape of digital finance. Summary: The $16 million raise for Transak is a game-changer for the Web3 and crypto payments landscape. It underscores the growing importance of stablecoins in achieving mainstream adoption. Transak’s expanded capabilities will undoubtedly simplify digital currency transactions for millions, bridging the gap between traditional finance and the decentralized world. This investment positions Transak as a key player in shaping the future of global payments. Frequently Asked Questions (FAQs) What is Transak? Transak is a Web3 payments firm that provides on-ramp and off-ramp solutions, enabling users to easily convert between traditional fiat currency and cryptocurrencies, including stablecoins. What are stablecoin payments ? Stablecoin payments involve using cryptocurrencies whose value is pegged to a stable asset, like the US dollar. This stability makes them ideal for everyday transactions, avoiding the price volatility often associated with other cryptocurrencies. Who invested in Transak’s strategic round? The $16 million strategic round was co-led by IDG Capital and Tether, with additional participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures. How will this funding benefit users of digital currency ? The funding will allow Transak to expand its stablecoin payments stack and enter new markets, making it easier and more accessible for users worldwide to buy, sell, and use digital currency for various transactions. What is the significance of stablecoins for Web3 payments ? Stablecoins are crucial for Web3 payments because they offer price stability, speed, and lower transaction costs compared to traditional methods, facilitating wider adoption and practical use of decentralized applications and services. Did you find this article insightful? Share it with your friends and colleagues on social media to spread the word about Transak’s exciting developments in the world of stablecoin and crypto payments ! To learn more about the latest crypto payments trends, explore our article on key developments shaping digital currency institutional adoption. This post Transak Unlocks Future: $16M Boosts Stablecoin Payments Revolution first appeared on BitcoinWorld and is written by Editorial Team
