Latest news with #Bitcoin
Daily Mail
44 minutes ago
- Business
- Daily Mail
Trump family 'makes $3 BILLION bet' on cryptocurrencies including Bitcoin
President Donald Trump 's family plans to drop a $3 billion investment into cryptocurrencies, including bitcoin, as it bets big on digital assets. The president has said he hopes to make the United States the 'crypto capital of the world.' Now his Trump Media & Technology Group plans to raise $2 billion in fresh equity by selling off its stock and another $1 billion via a convertible bond to invest heavily in the digital coin business, the Financial Times reported. The initial cash will come from about 50 institutional investors by selling roughly 58 million shares of the company. Then, those funds will be used to create one of the largest corporate reserves to invest in Bitcoin, giving the Trumps' a a 'bitcoin Treasury.' Trump Media & Technology Group is behind the Truth Social app and President Trump is its largest shareholder. As president, his assets are in a blind trust managed by his family. The formal announcement of the new investment strategy came ahead of this week's big meeting of crypto investors taking place in Las Vegas. Vice President JD Vance and Trump's sons Don Jr and Eric are scheduled to speak. Trump's crypto tsar David Sacks is also expected to attend. The company said it is looking to diversify its revenue streams with a push into the financial sector. 'We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,' Devin Nunes, the company's chief executive officer, said in a statement. President Trump owns a little over 50 percent of Trump Media's stock, making the approximately $2.7 billion stake one of his most valuable investments. The company went public a little over a year ago but has lost money ever since. Truth Social has generated just a few million dollars in advertising revenue - despite it being President Trump's preferred social media platform. Last quarter, Trump Media recorded a $32 million loss on just $820,000 in revenue from advertising and other sources. The Trump family famously made its money in real estate, putting its mark on the New York City skyline and at Trump properties throughout the world. But the family is diversifying and opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. Last week, more than 200 wealthy crypto bros descended on Trump's Washington D.C. golf course for a private dinner with the president. Democrats and ethic experts criticized the event, calling it a way for Trump to enrich himself. But the president pushed back against the charge in remarks to guests, arguing that Hunter Biden and the Biden family made a fortune off the Oval Office. 'Ultimately, no matter what it is, I always put the country way ahead of the business,' he said, adding 'You can't say that about Hunter.' Trump pointed out President Joe Biden's son Hunter sold paintings for thousands of dollars: '500,000 for a painting.' Video of his remarks were posted on social media by attendees. The dinner was hosted by the president's cryptocurrency venture for the biggest holders of the $TRUMP meme coin. Trump pitched the value of the venture when he addressed the room. 'A lot of sense in crypto, a lot of common sense,' the president said. He wore the blue suit and red tie he had been wearing at the White House all day. Many of the investors in the cryptocurrency are foreign and it's unclear what kind of background check they went through in order to be near the ballroom. The event was to thank investors for their $400 million investment in Trump's memecoin.
Yahoo
an hour ago
- General
- Yahoo
Second man accused of kidnapping, torturing Italian tourist in NYC apartment
Editor's note: The above video aired on May 24, 2025. MANHATTAN, N.Y. (PIX11) — A second suspect is accused of kidnapping and torturing an Italian tourist for several weeks in a swanky Manhattan townhouse, police said. More Local News Florida resident William Duplessie, 33, turned himself in Tuesday morning and was charged with assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm, according to the NYPD. On Friday, his accomplice, John Woeltz, 37, was arrested at the scene after the 28-year-old cryptocurrency millionaire escaped the apartment near Prince and Mulberry streets in SoHo. The suspects wanted the password to the tourist's Bitcoin account, according to the criminal complaint. Prosecutors said the defendants allegedly bound and beat the victim several times, including hitting him in the head with a gun and using electric wires to shock him for three weeks in the eight-bedroom apartment. The suspects allegedly used a saw to cut the man's leg, urinated on him, and forced him to smoke crack cocaine by holding him down or forcing a pipe into his mouth, according to court documents. The victim also had an Air Tag tied around his neck. On the morning he escaped, the tourist was carried to the top of the stairs and hung over the ledge and told he would die if he didn't give up the Bitcoin password, prosecutors said. The tourist told the defendants he would give them access to the account and ran out of the apartment when Woeltz went to get the victim's laptop, according to the complaint. The man was shoeless and bloody when he flagged a traffic agent, who then called 911. The tourist was taken to the hospital with a laceration to his face, wrist injuries from being bound, and other injuries to his head and body, authorities said. Woeltz was charged with assault, kidnapping, and unlawful imprisonment after officers raided the townhouse Friday. The suspect was held without bail after his arraignment. Duplessie's arraignment was pending on Tuesday. Their attorneys could not immediately be reached. Mira Wassef is a digital reporter who has covered news and sports in the NYC area for more than a decade. She has been with PIX11 News for two years. See more of her work here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
an hour ago
- Business
- Yahoo
Second suspect in New York crypto kidnapping and torture case surrenders to police
A second suspect surrendered to police Tuesday morning in the harrowing case of a cryptocurrency trader who was allegedly kidnapped, tortured and held hostage in a Manhattan apartment for several weeks. The man turned himself in following the Friday arrest of 37-year-old John Woeltz, who was arrested after the victim escaped the apartment where he was allegedly held hostage. Miami resident William Duplessie, 33, is being charged with assault, kidnapping, unlawful imprisonment and criminal possession of a firearm, according to a law enforcement official. Police had already arrested Kentucky native Woeltz for allegedly holding the wealthy Italian cryptocurrency trader hostage as part of a violent scheme to obtain his Bitcoin password. Police said the 28-year-old victim arrived from Italy on May 6 and was held hostage inside the SoHo apartment for several weeks. CNN has reached out to Woeltz's attorney for comment and is working to identify an attorney for Duplessie. Prosecutors in Manhattan say the victim, who has not been identified, was tortured for days, threatened to be killed, and at one point dangled over a railing if he did not give up his Bitcoin password. When the victim refused to provide the two men with his Bitcoin password, they subjected him to torture, the Manhattan District Attorney said. The beatings included but were 'not limited to' using electric wires to shock him, pointing a firearm at his head and using that firearm to strike him in the head. The two men also bound the victim's wrists and said they would have his family killed, according to the district attorney. Woeltz was arraigned Saturday on charges of first-degree kidnapping, second-degree assault, first-degree unlawful imprisonment, and criminal possession of a firearm, according to the Manhattan District Attorney's office. Woeltz did not enter a plea at his initial court appearance and was ordered held without bail. He is expected to be back in court on Wednesday, according to a court docket. A third person, a woman identified as Beatrice Folchi, was also detained in connection with the case, but Manhattan prosecutors declined to charge her pending an investigation, according to a spokesperson for the Manhattan District Attorney's Office. The victim was taken to a hospital and treated for injuries that prosecutor Michael Mattson said were consistent with his descriptions of being bound and assaulted, the Associated Press reported. A search of the townhouse turned up a trove of evidence, Mattson said, including cocaine, a saw, chicken wire, body armor and night vision goggles, ammunition and polaroid photos of the victim with a gun pointed to his head, the AP also reported. CNN's Michelle Watson contributed to this report.
Yahoo
an hour ago
- Business
- Yahoo
Trump issues stark warning to Putin: ‘Playing with fire'
Markets opened mixed Tuesday morning, with Bitcoin (BTC) down slightly to $109,883, while Ethereum (ETH) ticked up 4.1% to $2,663.58, according to Kraken's latest price feed. XRP, Solana (SOL), and Binance Coin (BNB) all traded higher, reflecting cautious optimism amid heightened geopolitical tensions. Speaking to reporters, U.S. President Donald Trump issued a sharp rebuke of Russian President Vladimir Putin, saying, 'Putin is playing with fire!' Trump added, 'If it weren't for me, bad things would have happened to Russia.' The remarks follow renewed Russian military action in Ukraine, prompting fears of further escalation. Crypto markets, known to react quickly to macro and geopolitical uncertainty, showed limited volatility immediately after Trump's comments. Trump issues stark warning to Putin: 'Playing with fire' first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
an hour ago
- Politics
- Time of India
IIT-K pays tribute to armed forces for valour exhibited during Op Sindoor
Lucknow: Amidst surge in nationalist sentiment across the country following Operation Sindoor , IIT-Kanpur on Tuesday hosted the 'Rashtra Pratham' programme to salute the valour of the armed forces. Reaffirming the institute's deep-rooted commitment to the ideals of 'Nation First', the event brought together students, faculty and defence personnel to pay tribute to strengthen the spirit of national service. Prof Braj Bhushan, deputy director, IIT-K, highlighted the institute's leadership not only in academic excellence but also in fostering social responsibility. He also referenced Operation Sindoor, a recent mission symbolising technological and strategic collaboration, and expressed immense pride in the soldiers and the institute's contribution to the nation's defence ecosystem. Chief guest Brigadier Shabbarul Hasan, Station Commander of Army & Kanpur Cantonment Board, appreciated the partnership between the armed forces and IIT-Kanpur. He spoke about India's military history, referencing operations such as Cactus, the Indo-Pak wars, and Operation Sindoor, reiterating India's readiness to defend its sovereignty. He also noted the strategic relevance of the Defence Corridor in Kanpur and how it reflects the Army's role in national development. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Undo The event urged all citizens to remain vigilant, stay updated via official channels, avoid sharing unverified content, and report suspicious activities promptly—underscoring the collective responsibility in upholding the spirit of 'Rashtra Pratham'. Prof Manindra Agrawal, director of IIT-Kanpur, emphasised the institute's pivotal role in advancing India's development. He stated, "As an institute, it is our responsibility to drive the nation's progress. He underscored IIT-K's active collaboration with the armed forces in strategically important areas such as cybersecurity, drones and Unmanned Aerial Vigyan Manthan showcases young scientific minds Former director general of the Council of Scientific and Industrial Research (CSIR), Prof Ashutosh Sharma, emphasised the importance of inculcating self-confidence, self-respect and sense of humour along with scientific inquisitiveness.
