19 Jul 2025, 15:11

Bitcoin Podcaster Peter McCormack Pledges to Fight Crime in Bedford Like a Real-Life Batman

Peter McCormack, well-known Bitcoin podcaster and owner of Real Bedford FC, has announced a bold plan to tackle rising crime in Bedford, UK, stepping into a role some liken to a real-life Batman. Key Takeaways: Bitcoin podcaster Peter McCormack is funding private security patrols in Bedford to address rising crime. McCormack cites police inaction and growing issues like harassment and shoplifting harming local businesses. Legal experts warn that vigilantism is illegal in the UK. Frustrated by what he calls the police’s failure to protect the community, McCormack is personally funding a pilot initiative deploying ten security guards to patrol the town center every Saturday. In a post on X , McCormack said, “If the police won’t keep the town safe for our women and children, I will.” Rising Crime in Bedford Sparks Business Closures McCormack said his concerns center on a surge in crime, including aggressive begging, shoplifting, and harassment, which he says have driven shoppers away, forced stores to close, and left families feeling unsafe. The Bedford-based entrepreneur and football club owner claims he issued a warning to local police before launching his plan, criticizing them for not addressing these issues. Bedford, a town of around 185,800 residents located less than two hours from London, has seen McCormack become a vocal advocate for community safety. Alongside his business ventures, he runs Real Bedford FC, a football club famously dubbed the “Bitcoin soccer team,” backed by investments from Gemini founders Tyler and Cameron Winklevoss. McCormack has engaged local residents by surveying them about crime and has called for community meetings to build support for his security project. Announcing my private security pilot for Bedford Town Centre – – – – – – – – – – – Starting this August, I’m personally funding a pilot project to provide private security in Bedford. Every Saturday, 10 guards will patrol the town centre and oversee safe parking at Lurke… — Peter McCormack (@PeterMcCormack) July 18, 2025 Despite the initiative’s ambition, legal questions remain around how these private security personnel will operate in public spaces. Vigilantism is illegal in the UK, and experts from JD Spicer Zeb Solicitors caution that such efforts must stay within legal boundaries. It is suggested that the guards may function more as informants, gathering video evidence to assist police investigations, similar to the growing trend of traffic vigilantes in the country. While the concept of privately funded security patrols might seem unconventional, it reflects a broader trend in areas facing police shortages. Lieutenant Eric J. Altorfer of the San Francisco Police Department noted earlier this year that private security increasingly fills gaps left by understaffed law enforcement agencies. However, Altorfer emphasized the importance of clear collaboration between private security firms and public police to ensure accountability and effectiveness. Crypto Execs Hire Bodyguards Amid Influencer Kidnapping Concerns As reported, crypto executives are turning to personal security services as targeted kidnappings and ransom attempts continue to escalate, particularly in France. In May, private security firms such as Infinite Risks International, based in Amsterdam, reported a sharp increase in demand from crypto professionals seeking round-the-clock protection amid rising crypto kidnappings. The rise in inquiries came after a spate of violent attacks, including multiple kidnapping attempts that have alarmed both investors and law enforcement. In France, the father of a crypto millionaire was brutally attacked . And in New York, a tourist was tortured for over two weeks as kidnappers tried to extract his Bitcoin credentials. The post Bitcoin Podcaster Peter McCormack Pledges to Fight Crime in Bedford Like a Real-Life Batman appeared first on Cryptonews .

19 Jul 2025, 15:01

Ethereum Treasury SharpLink Shares Plunge 20% Amid $6 Billion Plan to Buy More ETH

The company is one of several Ethereum treasuries to add sizable amounts to their holdings over the past two weeks.

19 Jul 2025, 15:00

State of Crypto: The Industry's No Good, Very Bad Wait Actually Excellent Week

The "Guiding and Establishing National Innovation for U.S. Stablecoins Act," otherwise known as the GENIUS Act, is now the law of the land, after President Donald Trump signed the first major U.S. legislation following a week-long process to pass it and two other bills in the House of Representatives. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Stable tokens The narrative On Friday, U.S. President Donald Trump signed a crypto bill into law. This is the first time a major cryptocurrency bill has become law, and it likely is not the last. Why it matters For the first time, a major cryptocurrency bill has become law in the U.S. The GENIUS Act, which sets out to create a regulatory framework governing stablecoins, or cryptocurrencies pegged to another asset like the U.S. dollar, kickstarts a process that will see the Federal Reserve, Office of the Comptroller of the Currency and other regulators become far more involved in the crypto sector. Breaking it down There was a bit of a false start. The House Rules Committee met Monday evening to debate the bills with key members of the Financial Services and Agriculture Committees ahead of a procedural vote, which the House held Tuesday. That procedural vote was expected to sail through, albeit on party-line votes. It did not. Members of the House Freedom Caucus voted against the procedural motion to open debate and threw a wrench into the House's "Crypto Week." Later that evening, U.S. President Donald Trump posted on his social media platform Truth Social that 11 of the holdouts had agreed to vote for the motion and the House reconvened on Wednesday to first vote to hold a redo on the other vote (this one passed mostly along party lines) and then to actually redo the other vote. Many of the 11 holdouts continued to hold out. Trump, in remarks made before signing the GENIUS Act on Friday, joked about this: "I am so tired of making phone calls at 2, 3, 4 o'clock in the morning." Still, after a record-breaking 9+ hour vote, the lawmakers did finally vote in favor of the move to debate, clearing the way to a final vote for the three bills on Thursday. Despite these hiccups, Congressman Bryan Steil noted that Crypto Week largely played out as planned, with three bills getting passed and one heading to the president's desk. "In the House, it feels like in the home stretch with the narrow majority, there's final negotiations, final discussions," he said on CoinDesk TV Thursday ahead of the vote. "But the good news is the play call that was made at the start of the week is the play call we're executing today, which is passing GENIUS, putting that on the president's desk for his signature into law." Moreover, while industry participants anticipated that maybe 30 or so Democrats would vote for the bills, the actual numbers dramatically surpassed this — 78 Democrats joined 216 Republicans in voting for Clarity and 102 Democrats/206 Republicans voted for GENIUS. For context, last year's Financial Innovation and Technology for the 21st Century Act (FIT21), Clarity's predecessor, saw 78 Democrats and 208 Republicans vote in favor. House Financial Services Committee Chairman French Hill, speaking at a press conference after Thursday's votes, was positively giddy at successfully shepherding the bills through in just a matter of months: "I knew that my target was to beat FIT21 and I made a bet with myself — and I won." Neither Clarity nor GENIUS are done yet. The next steps for GENIUS belong to the federal regulators tasked with implementing its provisions. The Federal Reserve, Office of the Comptroller of the Currency and others will now have to launch the rulemaking process to develop the actual regulations asked for in the law. Clarity's next steps are murkier. The Senate is clearly working on its own bill, at least at the moment — senators have introduced principles and are holding hearings. These actions suggest the Senate Banking and Agriculture Committees may do their own thing, rather than adopt Clarity as it is. Hill, in Thursday's press conference, made it clear he hoped the Senate would take Clarity up. And House Agriculture Committee Chair Glenn GT Thompson said on CoinDesk TV on Thursday morning that he had been working with his Senate counterparts as it launched its process. Banking Committee Chair Tim Scott previously set a Sept. 30 deadline for moving the Senate's market structure bill, which will govern a far broader swath of the industry. Read CoinDesk's coverage from Crypto Week: House Gears Up for Crypto Market Structure Vote on Wednesday, Stablecoins Thursday House's Crypto Markets Bill on Track, But Some in Industry Hope For Senate Overhaul 'Crypto Week' Back on Track? Trump Says Defecting Lawmakers Ready to Vote for Bills Senate Agriculture's Top Dem: Crypto Market Structure Effort Needs 'Serious Changes' 'Crypto Week' Is Stuck Again as House Procedural Vote Drags On 'Crypto Week' Back on Track After Lengthy House Do-Over Vote U.S. House's 'Crypto Week' Shifts Toward Getting All Legislation Out Thursday U.S. House Passes CLARITY Act, Moves on to Stablecoin Vote GENIUS Act for Stablecoins Passes House on Way to Being First Major U.S. Crypto Law 'Crypto Week' Reaction: What GENIUS and CLARITY Bills Mean for the Industry Trump to Sign the Historic GENIUS Act Into Law. What Does It Mean for Crypto? Trump Signs GENIUS Act Into Law, Elevating First Major Crypto Effort to Become Policy Tether CEO Says He'll Comply With GENIUS to Come to U.S., Circle Says It's Set Now Trump Signs GENIUS Act Into Law: The Full Transcript Stories you may have missed U.S. Banking Regulators Issue Crypto 'Safekeeping' Statement, Not Pushing New Policy : The federal banking regulators published a statement addressing crypto custody. U.S. Prosecutors, CFTC Drop Polymarket Investigations : The U.S. Department of Justice and Commodity Futures Trading Commission are dropping their investigations into whether Polymarket allowed U.S. traders access to its platform despite a consent decree Polymarket agreed to saying it wouldn't. Bank of America Joins Stablecoin Rush as CEO Moynihan Says Work Already Underway : Brian Moynihan said the Bank of America does have plans to get into stablecoins and has already begun working on something. Early Bitcoin Investor Roger Ver Sues Spain to Prevent Extradition to the U.S. : Roger Ver is fighting his extradition to the U.S. to face tax evasion charges. Tornado Cash Tornado Cash developer Roman Storm's criminal trial kicked off this week, with jury selection taking a day and a half and the overall trial now expected to run approximately three weeks. Storm was arrested in 2023 and charged with conspiracy to commit money laundering, conspiracy to violate sanctions and conspiracy to operate an unlicensed money transmitting business. So far prosecutors have only just begun making their case, beginning with a set of witnesses who say they were victims of Tornado Cash. Prosecutors will be making their case to a largely non-technical jury. Just one member works as an IT manager, while another works at Palantir. The rest have a range of jobs and educational backgrounds. There's also ongoing motions efforts separate from the trial itself, with defense attorneys moving to try and kick out some of the evidence prosecutors have suggested they'll introduce. Right to Code? Tornado Cash Dev Roman Storm's Money Laundering Trial Kicks Off Monday Jury Seated for Tornado Cash Dev Roman Storm's Trial Legitimate Privacy Tool or Dirty Money ‘Laundromat’? Lawyers Debate Role of Tornado Cash on Day 1 of Roman Storm Trial Hack ‘Victims’ Say Tornado Cash Offered No Help in the Wake of Exploits: Day 2 of Roman Storm Trial This week Monday 20:00 UTC (4:00 p.m. ET) The House Rules Committee met to discuss the Clarity Act, GENIUS Act and Anti-CBDC Act and debate on whether there would be an amendment process prior to votes for these bills. Tuesday 19:00 UTC (3:00 p.m. ET) The Senate Agriculture Committee held its first hearing on digital commodities ahead of anticipated market structure legislation. Wednesday 13:00 UTC (9:00 a.m. ET) The House Ways and Means Committee met to discuss crypto tax issues. 14:15 UTC (10:15 a.m. ET) House Democrats led by Financial Services Ranking Member Maxine Waters held a press conference to reiterate their concerns with the various pieces of legislation. Thursday 19:45 UTC (3:45 p.m. ET) The House scheduled a vote for the crypto bills, though this time was moved up to 2:40 p.m. ET right before that revised time. Friday 18:30 UTC (2:30 p.m. ET) The White House held a signing ceremony for the GENIUS Act. Elsewhere: ( The Wall Street Journal ) Tokens purporting to represent stocks may not actually track the prices of those underlying stocks that closely, the Journal reports. ( 404 Media ) Immigration and Customs Enforcement is using a powerful new facial recognition tool. ( Infotel CA ) This is just a charming story about a massive marmot. Enjoy. If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at [email protected] or find me on Bluesky @nikhileshde.bsky.social . You can also join the group conversation on Telegram . See ya’ll next week!

19 Jul 2025, 14:57

Russian government readies tougher rules for miners

Russia is preparing to impose new restrictions on cryptocurrency miners, including stricter punishments for violating existing bans and illegal mining activities. One of the proposed measures will allow authorities to remotely disconnect crypto mining facilities from the grid during periods when demand for electricity is at its highest. Russian government readies tougher rules for miners The Ministry of Energy in Russia has been tasked to finalize regulations for those involved in the extraction of digital currencies, the Interfax news agency reported, following a recent meeting of the Cabinet of Ministers in Moscow. According to a report issued after the meeting chaired by Deputy Prime Minister Alexander Novak, the updated rules include introducing greater liability for illegal connection to distribution networks, electricity theft, and violation of imposed mining bans. Furthermore, crypto miners will be added to a new category of consumers of lesser importance, for which the reliability of power supply is far from guaranteed. The energy ministry is now expected to develop “a mechanism for redistributing the released capacity when limiting mining activities in a region in order to connect socially significant consumers to the power grid,” the document detailed. Russia wants to unplug mining farms remotely The Russian government explained that the establishment of the new “fourth” consumer category actually means having the option to “introduce remote restrictions on consumption during peak loads and under threat of energy and capacity shortages.” Russia legalized cryptocurrency mining in 2024 to exploit its competitive advantages, such as cheap and abundant energy. But Moscow was caught unprepared for how quickly miners managed to turn energy surpluses into shortages, prompting Putin to comment: “We were happy we had electricity surpluses in some regions. But they began mining there … We had to make certain decisions.” Speaking at an economic forum this month, the Russian President justified the mining restrictions introduced in certain parts of the country that have been facing increasing power deficits as a result of the rapid growth of the mining industry. In the past few months, mining has been partially or fully banned in a dozen energy-deficient regions, from Siberia to the North Caucasus, and even in occupied Ukraine. Initial temporary restrictions have been expanded to 6-year prohibitions, in some cases. Among other proposals discussed at the government meeting is the idea to introduce mandatory labeling and certification for foreign mining equipment imported into the Russian Federation, the crypto news outlet Bits.media noted in a post on Friday. It comes after Deputy Energy Minister Petr Konyushenko unveiled that his department has joined forces with the Federal Tax Service and the Ministry of Digital Development to establish a special register for devices used for digital minting. In early July, the official stated: “The register will allow us to accurately identify consumers using electricity for mining needs.” The revised regulations must be submitted for government approval by the end of the current quarter. Then, federal and local authorities will begin their gradual implementation in regions with active restrictions on the mining of Bitcoin and other cryptocurrencies. Elsewhere, both companies and individual entrepreneurs are allowed to mine as long as they register with the tax authority, but less than a third of mining enterprises have done that. The registration is not mandatory for amateur miners burning less than 6,000 kWh monthly. Meanwhile, Russian law enforcement and other agencies have been busting illegal crypto farms across the country to limit financial losses for the state and utilities. In June, the Rosseti grid operator said it’s working with telecom companies to hunt down illegal miners by tracking their internet traffic. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

19 Jul 2025, 14:30

JPMorgan Chase Warns De-Dollarization Underway As Central Banks Ditch USD, Aggressively Stockpile Gold

JPMorgan Chase warns de-dollarization is accelerating, as central banks slash USD reserves while aggressively stockpiling gold. In a new note, Meera Chandan, co-head of Global FX Strategy at JPMorgan, says the share of USD has dropped to below 60% at central banks, a two-decade low. The real sign of de-dollarization, or a reduction of dependence on the USD for global trade, can be seen in the gold market, according to the bank. JPM notes a strong trend in gold purchases from competitor economies like China, Russia and Turkey. “The main de-dollarization trend in FX reserves, however, pertains to the growing demand for gold. Seen as an alternative to heavily indebted fiat currencies, the share of gold in FX reserves has increased, led by emerging market (EM) central banks — China, Russia and Türkiye have been the largest buyers in the last decade. Overall, while the share of gold in FX reserves in EM is still low at 9%, the figure is more than double the 4% seen a decade ago; the corresponding share for DM countries is much larger at 20%. This increased demand has in turn partly driven the current bull market in gold, with prices forecast to climb toward $4,000/oz by mid-2026.” JPM also noted a sign of de-dollarization in the bond markets, highlighting that the share of foreign ownership in the Treasury market has been declining continuously for 15 years. The current share of Treasuries owned by foreign entities has dropped to 30% as of early 2025, down from its peak of 50% during the Great Financial Crisis (GFC), according to JPMorgan. Says Jay Barry, head of Global Rates Strategy at the bank, “Although foreign demand has not kept pace with the growth of the Treasury market for more than a decade, we must consider what more aggressive action could mean. Japan is the largest foreign creditor and alone holds more than $1.1 trillion in Treasuries, or nearly 4% of the market. Accordingly, any significant foreign selling would be impactful, driving yields higher.” The analyst notes that the dollar’s share in FX reserves was lower in the early 90s, meaning the the move toward other currencies like the euro or the yuan is significant but not yet unprecedented. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post JPMorgan Chase Warns De-Dollarization Underway As Central Banks Ditch USD, Aggressively Stockpile Gold appeared first on The Daily Hodl .

19 Jul 2025, 14:22

Tether CEO Confirms Plans for USDT Launch in U.S. Under New GENIUS Act Rules

Tether plans to obtain foreign issuer status for stablecoins in the United States under the requirements of the GENIUS Act, CEO Paolo Ardoino told CoinDesk in an interview. On July 18, President Donald Trump signed the GENIUS Act, a bill regulating stablecoins. Tether prepares for new compliance measures Complying with the new regulations means implementing a revised audit regime and making changes to USDT’s reserve structure. Ardoino stated that the $13 billion net income the company generated last year provides ample resources for these adjustments. He confirmed that CFO Simon McWilliams, appointed in March, is working to engage an auditor from one of the Big Four accounting firms. ”Tether will comply with the GENIUS Act,” Ardoino said. He estimated that it will take around three years for Tether to enter the U.S. market. The company also intends to launch a version of USDT specifically targeting the United States and institutional investors. ”Institutions are used to ultra-efficient markets, and they will take every basis point into account. So we need to create something suitable for that,” he explained. Therefore, the new product will be ”focused on payments and extremely high efficiency,” the executive clarified. In May, Ardoino said the company could issue a U.S. stablecoin as early as 2026. At that time, he reiterated that USDT’s main business interests remain outside of the United States. ”Our customer base is three billion people without accounts or access to the banking system,” Ardoino emphasized. According to a February estimate from JPMorgan analysts, only 66%–83% of USDT reserves currently meet GENIUS Act requirements. To achieve compliance, the issuer would need to replace bitcoins, corporate bonds, and secured loans with U.S. government bonds and other highly liquid assets, the experts concluded. Ardoino expressed confidence that adapting to the new rules would be “simple” for the company. Following the introduction of MiCA regulations in the EU, Tether has shifted focus to supporting third-party regulated stablecoin projects through its Hadron platform. Circle optimistic about new regulatory landscape Jeremy Allaire, co-founder and CEO of Circle (issuer of USDC), told CoinDesk that passage of the GENIUS Act “legitimizes the company’s approach to doing business.” “We have always been trusted, transparent, and publicly audited for five years,” he said. According to Allaire, the U.S. stablecoin sector was already evolving rapidly before the new regulations were approved. A number of “large technology companies, trading firms, and financial institutions” have expressed interest in entering the market. “Once this federal law is in place, it will really be a green light for all of these types of institutions,” Allaire emphasized. The GENIUS Act will take effect six months after President Trump's signature, or 120 days after regulators publish implementing rules, whichever comes later.