Authorities in San Bernardino County are investigating the disappearance of 74-year-old Naiping Hou, who went missing in early May under suspicious circumstances believed to be linked to his family’s crypto wealth. Key Takeaways: California police are investigating the suspicious disappearance of 74-year-old Naiping Hou. The incident is possibly linked to his family’s crypto wealth. Authorities uncovered fraudulent activity in Hou’s bank accounts and believe someone impersonated him. Hou left his home without his phone on a Monday and never returned. Days later, his silver Toyota Yaris was discovered abandoned near a hiking trail in Rancho Cucamonga. On May 4, he was officially declared missing . Police Probe Fraud in Missing Crypto Investor Case By July 7, the San Bernardino County Sheriff’s Department confirmed its Specialized Investigations Division was treating the case as suspicious, citing evidence of “extensive fraudulent activity” involving Hou’s bank accounts. Investigators revealed that an unknown individual used Hou’s phone and impersonated him to communicate with his family, raising concerns that Hou may have been kidnapped. No suspects have been named, but authorities have not ruled out foul play. Hou’s son, Wen Hou, has offered a $250,000 reward for information that could lead to his father’s safe return. Wen, who has worked as Chief Investment Officer of hedge fund Coincident Capital since 2019, built his fortune in crypto and believes the motive behind his father’s disappearance may be financial. “He had no reason to disappear,” Wen said in an interview with KABC. “I miss him a lot. He’s sort of a guide to my life.” Experts suggest the case fits a growing trend of physical attacks targeting individuals linked to digital wealth. Local and federal agencies now use blockchain forensics to follow the money in these cases. Crypto-Linked Violence Hits Record Levels in 2025 Violent physical attacks targeting cryptocurrency holders, known as “wrench attacks,” are sharply rising in 2025, with 35 cases already reported by July, according to Chainalysis. The Asia-Pacific region has seen some of the worst violence , with countries like Japan, Indonesia, and the Philippines reporting a surge in kidnappings and extortion linked to crypto ownership. Driven by Bitcoin’s recent surge past $122,000, criminals are increasingly shifting from online hacks to real-world violence. Making my @CNN debut this morning: $5 wrench attacks, crypto user privacy, problems of KYC, Bitcoin users vs. bank secrecy laws, and the Trump Admin's policies on bitcoin and its crypto-offspring @btcpolicyorg @ConsumerChoiceC pic.twitter.com/Q2KvZEVjoE — Yaël (@YaelOss) May 29, 2025 So far this year, over $2.17 billion in crypto has been stolen globally, surpassing 2024’s total. Attacks on personal wallets now account for nearly 25% of stolen funds. Chainalysis found that retail wallet holders are now the main targets. Users in the U.S., Germany, and Japan report the most cases, while India, Chile, and the UAE see the highest average losses. Improved security at exchanges has pushed attackers toward less protected individuals with high-value wallets. The trend is also being fueled by advanced tactics. Chainalysis and CertiK report growing use of AI tools to identify and manipulate victims, often through phishing and impersonation schemes. CertiK estimates crypto users lost $2.2 billion in the first half of 2025 alone, with wallet breaches making up $1.7 billion. “The rise of wrench attacks is a stark reminder that digital assets are only as safe as the people who hold them,” Chainalysis said. The post 74-Year-Old California Man Missing; Kidnapping Suspected Over Family Crypto Fortune appeared first on Cryptonews .
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Aplus cardholders in Japan just got a new way to use their points: by swapping them for crypto. Starting this week, Aplus customers can now convert their reward points into XRP, Bitcoin, or Ether, according to information from the company’s updated loyalty program. That makes Aplus the first major rewards system in the country to offer direct crypto redemptions instead of just the usual cash, merchandise, or airline miles. The new option lets users trade in 2,100 points for over 2,000 yen worth of crypto, roughly $13–$15 USD, depending on the exchange rate. Basically, the program connects daily spending directly to crypto ownership, without requiring people to invest out of pocket. Users don’t need any technical background either, just points and an account with SBI VC Trade or access to the Aplus portal. It’s a small amount, but it turns everyday transactions into a route to XRP, BTC, or ETH, with zero cash upfront. Aplus users earn points from spending and get bonuses for higher usage Every time someone spends 200 yen using an Aplus credit card, they earn one point. Anyone who spends 50,000 yen or more in a single month gets a bonus rate, an extra 0.5% in points. Those points stay active for two years after they’re earned, meaning customers don’t have to rush to redeem them. The crypto integration doesn’t change any of that. It adds one more choice to what people can do with their points. While it might not sound like much, this opens the door for users who’ve never touched crypto before. It doesn’t require them to study blockchain, open a special wallet, or buy crypto directly. They just spend as usual, earn points, and redeem when they’re ready. People can redeem points for XRP, Bitcoin, or Ether by logging in to either the Aplus portal or their account on SBI VC Trade. And even though the crypto is earned through points instead of cash, that doesn’t mean there’s no oversight, as users are still bound by the country’s crypto rules, including tax liabilities. So, let’s say someone redeems their points for Bitcoin, and it goes up in value before they sell it, they will still owe taxes because that’s just how it works under Japanese law . That means users must either keep the assets in SBI VC Trade or manually transfer them to a private wallet. It’s completely on them to handle custody and ensure their crypto is safe. But it’s still uncertain whether people can redeem crypto every month or if there are limits, which will affect how much people use the system over time. There’s also the issue of size. Getting 2,000 yen worth of crypto might not move the needle for big investors, who say the amount is too small to attract serious users. But for people who are new to crypto or just curious, this setup could be the easiest way to start holding XRP, Bitcoin, or Ether without a lot of headaches. Makoto Kobayashi, a senior manager at SBI VC Trade, explained that the goal is to offer a safe and simple entry point for people who’ve never owned crypto before. “Using reward points makes that possible, without asking them to risk cash or deal with exchanges.” Still, clear communication is going to be key if this program’s going to grow. Aplus hasn’t released full guidelines yet, and that’s causing questions to pile up. Users want to know if they can redeem every month, if there’s a minimum balance, or if anything changes based on which crypto they pick. Until those answers come out, some customers might hold off. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
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According to the International Monetary Fund (IMF)'s first program review report published on July 15, the government of El Salvador has not made any new Bitcoin purchases since February 2025. This information was revealed in an official letter signed by the country's Central Bank President, Douglas Pablo Rodríguez Fuentes, and Finance Minister, Jerson Rogelio Posada Molina, and submitted to the IMF. The letter states that El Salvador's public sector Bitcoin holdings “have not changed.” Attached documents note that the country's hot and cold wallet addresses have been handed over to the IMF for auditing and monitoring purposes. This statement clearly contradicts previous statements by President Nayib Bukele and El Salvador's Bitcoin Office, which claimed that 1 BTC has been purchased daily since November 2022. The Bukele administration claims that the country's BTC reserves have reached approximately 6,242 BTC, worth around $737 million. Blockchain analysis firm Arkham also provided on-chain data confirming daily transfers of 1 BTC from wallets labeled Binance and Bitfinex. However, the IMF report suggests that these transfers are not new purchases, but rather a consolidation of existing Bitcoin holdings in government wallets. A footnote in the report states, “Increases in the Strategic Bitcoin Reserve Fund are due to the consolidation of Bitcoins held in different government wallets.” Related News: What Lies Ahead for Solana (SOL) Prices? Analysis Company Releases Technical Analysis President Bukele has repeatedly stated that they will continue to buy Bitcoin, despite reaching a $1.4 billion loan agreement with the IMF. In a post on social media platform X, he said, “Even when the world ostracized us and many abandoned us, these purchases didn't stop; they won't stop now, and they won't stop in the future.” Stacy Herbert, director of the Bitcoin Office, argued in a March post on X that El Salvador continued to buy Bitcoin despite the IMF agreement. Herbert said, “Some ‘Bitcoin’ supporters are relying on the IMF’s word rather than El Salvador’s purchases recorded on the Bitcoin blockchain.” *This is not investment advice. Continue Reading: Is El Salvador Lying? IMF Claims the Country Is Not Buying Bitcoin Every Day
Summary Block's bitcoin trading generates high revenue but negligible profit, limiting its impact on overall business performance and valuation. The company has limited innovation, with Cash App and Square no longer driving significant growth; recent product tweaks haven't moved the needle. Block's surprise S&P 500 inclusion caused a stock price jump, but fundamentals remain unchanged and growth catalysts are lacking. The stock will likely trade at ~21x 2026 EPS target after the S&P 500 bump, reducing any interest in buying the stock. Block, Inc. ( XYZ ) was one of the first public fintechs to incorporate bitcoin trading into the business, yet years later the business doesn't generate any material profits off cryptocurrency as the U.S. government starts approving cryptocurrency legislation. The stock is jumping on the surprise entry into S&P 500, leading to limited value in owning Block. My investment thesis is now Neutral on the stock, especially above $80, where Block likely trades when the market opens on Monday. Source: Finviz Limited Crypto Catalysts Years ago, Block would trade wildly based on revenues from bitcoin trading. Just in Q1'25, the fintech generated $2.30 billion in bitcoin trading revenues, but the company incurred a nearly equal $2.24 billion in transaction costs. Source: Block Q1'25 shareholder letter Block has offered bitcoin trading since 2018 , but the company has never moved beyond simple trading of the major crypto coin. Coinbase ( COIN ) has now developed a complete platform with trading in multiple coins and offering stablecoins to reach a market cap of over $100 billion, more than double Block. President Trump just approved the Genius Act to regulate stablecoins. The market is dominated by Coinbase and a few other players, while Block is nowhere to be found. The irony is that co-founder Jack Dorsey was one of the original proponents of bitcoin. Block owns over $1 billion worth of bitcoin based on owning 8,584 coins at the current price of $118K with a cost basis of only $261 million. Unfortunately, Block has remained stuck in focusing on the once innovative Cash App and moving into BNPL services. Neither, really offering the growth dynamics anymore offered by crypto. The company is starting to rollout bitcoin payments on Square in the 2H, with most sellers eligible in 2026. In addition, the company is developing bitcoin mining chips and systems under Proto with a business launch in the 2H, but the fintech isn't moving far beyond the natural crypto trading opportunity. For Q1, Block gross profits only grew 9% to $2.29 billion. Again, the fintech has substantial transaction costs so that gross profits work out to more of a net revenue figure. Either way, the stock can't really be valued based on total revenues due to the excessive bitcoin revenues without any profit benefit from the pass-through costs. The problem facing Block is that both Square and Cash App were innovative fintech products in the beginning, but the company no longer sees innovation outside of product tweaks. The Q1'25 shareholder letter focused on product innovation with up to 100 product enhancements to Square, but the new features to the technology platform aren't moving the growth needle. The biggest product appears to be Cash App Afterpay, a product designed for small amounts of borrowing within Cash App. S&P 500 Surprise After the close on Friday, Block was announced as the new entry into the S&P 500 before the opening of trading on July 23. The stock will enter the key index with trillions attached to the product after Hess (HES) was purchased by Chevron ( CVX ) and removed from the index. The stock soared 8.5% in after-market trading due to the surprise move. Block only had a market cap of $45 billion, with Robinhood ( HOOD ), the far more discussed fintech, set to enter the S&P 500 with the market cap soaring to $100 billion. Barron's even speculated on the next 4 stocks to be added to the index, and Block wasn't included. Source: Seeking Alpha Block traded at ~19x EPS targets for 2026. The stock currently trades at about 4.5x gross profit targets in the range of $10 billion for the year. The S&P 500 entry is likely to boost the stock in the 10% range, moving the forward P/E multiple to 21x. For a company with 9% gross profit growth targets, the stock trades at about fair value. Takeaway The key investor takeaway is that Block doesn't have the growth catalysts to chase the stock after this surprise S&P 500 entry bump when trading opens up Monday. The company has missed the crypto craze, and the current projects don't appear to move the needle. Investors can hold the stock next week, but one shouldn't chase Block on the entry into the S&P 500.
Wall Street has long mastered the creative art of turning complexity into a money-printing machine. How do they do it? Financial engineering — an art of structuring debt, equity, and derivatives to squeeze out returns in ways that often defy convention. It’s a playbook that made fortunes — and nearly broke the system in 2008. Now, this complex engineering of money has entered the crypto market. With Wall Street's takeover of crypto, financial engineering is fast becoming a pillar of the crypto market. It is now at the center of the latest iteration of one of the hottest trends in the space: the crypto treasury strategy. This trend is championed by Michael Saylor, whose company — MicroStrategy (MSTR), now rebranded simply as Strategy — began acquiring bitcoin as both a corporate reserve asset and a market signal. But the real innovation wasn’t just buying BTC and holding it. It was how the firm financed those purchases: issuing convertible notes and equity to raise capital, then cycling that capital into buying more bitcoin. Each announcement triggered a surge in Strategy’s share price, which in turn made new capital raises easier and more lucrative. Others took note. What began as a bitcoin bet turned into a blueprint for a new kind of treasury management: announce crypto treasury strategy, stock pumps, raise funds, buy tokens, watch the share price pop more, repeat. This is the new "Infinite Money Glitch," according to Animoca Brands Research. "This financial engineering approach of utilizing debt and equity issuances, such as convertible notes and stock offerings, specifically to raise funds for continuous crypto asset acquisitions creates a “flywheel" effect," the firm said in a research note . Obviously, this money printing machine didn't stop with bitcoin. Smaller firms started to apply this to other popular altcoins, including XRP, ETH and SOL. But why altcoins? After all, the bitcoin market has matured, the cycle has been well defined, and the likes of Michael Saylor have shown that the returns serve the shareholders well while enabling firms to continue to raise funds. It's the early-stage advantage, according to Animoca's research. "Applying this 'flywheel' model to altcoins might offer a more extended runway for growth and profitability compared to bitcoin. While bitcoin's market is more mature and its price discovery has undergone several major cycles, the vast and diverse altcoin market is still, in many respects, in its nascent stages," the research noted. A quick look at the return charts shows that in the short term, this altcoin treasury strategy has paid off for the firms and their shareholders. "On the day of the [altcoin treasury] announcement, share prices saw an average increase of 161%. This upward trend persisted, with average gains of 150% one day after, 185% after seven days, and 226% after 30 days," the note said. "This immediate market response also underscores the market's willingness to invest in publicly traded 'wrappers' for altcoin exposure." Interestingly, launching these treasury strategies didn't impact the actual prices of the underlying tokens, Animoca's data shows. This perhaps makes a compelling case for investors to flock to these equity "wrappers" rather than to the actual tokens. Also, the lack of altcoin exchange-traded funds (ETFs) means that Wall Street has limited options but to buy into these strategy companies to capture the upside. For investors, these massive short-term gains are hard to ignore, and as long as there is an appetite for such financial engineering, capital will continue to flow into them. The only question is: Is this sustainable? "Should market sentiment shift or altcoin prices experience a prolonged decline, the leveraged nature of some of these strategies that could be employed carries substantial inherent risks," Animoca Brands research analysts said. "Nevertheless, the trend highlights a significant addressable market for structured products that bridge traditional finance with crypto," the report added. So for now, the "Infinite Money Glitch" is here for the win. Read more: Altcoin Season Returns? Bitcoin Consolidates With ETH, SUI, SEI Among Those Taking Charge
Emerging-market governments and companies are rushing into the euro bond market faster than they have in over a decade, according to Bloomberg. With the dollar down nearly 8% this year and Trump’s return to the White House fueling uncertainty around tariffs and US economic policy, borrowers from Eastern Europe to Asia are looking for other options. And the euro is winning that attention. This year alone, developing economies have sold €89 billion worth of euro-denominated debt by July 18 — the highest amount for that time frame since at least 2014. That includes €21 billion from Poland and Romania alone. Government issuance has already blown past 2024’s full-year total. Poland even rolled out its first green bonds since 2017, and Bulgaria secured €3.2 billion in sales after a credit rating upgrade tied to its entry into the eurozone next year. These countries aren’t just experimenting. They’re using momentum to raise serious money fast. Romania, Poland, Chile, and more ditch dollars to raise euros Romania sold euro bonds for the third time this year after markets responded positively to May’s election of a centrist candidate. In Asia, South Korea and China both tapped the euro bond market. Even Chile jumped in. The crowd is growing, and there’s one thing they all have in common: none of them want to stay too exposed to the USD. Matthew Graves, a portfolio manager at PPM America, put it like this: “We have been more active in looking for opportunities outside of US dollars credits.” He prefers Ivory Coast’s euro bonds over its dollar debt, pointing to the stronger spreads. “Directionally, we like owning euros versus dollars right now.” That sentiment is being echoed across Wall Street. Strategists at Goldman Sachs ran comparisons between euro and dollar bonds issued by the same governments on the same day. The result? Euro bonds outperformed dollar ones more frequently one week after issuance. “The increase in euro-denominated bond issuance has generally been well absorbed by the market,” Kamakshya Trivedi and his team wrote earlier this month. They expect this to continue as the US economy slows and the dollar keeps losing ground. Big players reevaluate dollar strategy as euro gains appeal As the dollar weakens, the appetite for diversification is growing. Bank of America is betting on Romania’s 2044 euro bonds while holding a bearish view on its dollar notes with the same maturity. JPMorgan strategists, led by Stefan Weiler, say Poland, Hungary, Mexico, and Morocco offer some of the most attractive euro-denominated opportunities for investors moving away from dollar debt. Weiler, who heads debt capital markets for Central Europe, the Middle East and Africa at JPMorgan in London, made it clear: “If you have an ambition to issue in euros, this is the time to do it. Borrowers have been noticeably more active in diversifying and exploring also some niche markets.” David Robbins, co-head of TCW Emerging Markets Group, says investors still see value in emerging markets. “The relative yield advantage you’re getting in EM to what you’re getting in other markets continues to look attractive,” Robbins said. That interest is propping up debt sales across both euro and dollar markets. Even with the growth in euro issuance, dollar bonds are still moving fast. 2025 is already seeing the most dollar-denominated emerging-market debt sold since 2021. But the euro is making gains in all the right places. Brazil , which has already sold over $5 billion in dollar bonds this year, is preparing to issue its first euro-denominated bond since 2014. Colombia plans to follow, preparing its first euro bond sale since 2016. Egypt is also considering hard-currency issuance that includes euro debt in the next year. And in the Balkans, Bosnia-Herzegovina is about to join the international debt markets for the first time, with a five-year unsecured euro bond on deck. This isn’t just a passing trend. With Trump’s tariffs rattling global trade, the Federal Reserve caught in crossfire, and growth in the US not looking so “exceptional” anymore, investors are reassessing what they want in their portfolios. Borrowers are responding, and the euro is getting louder. The dollar might not be gone, but it’s definitely not alone anymore. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
XRP is experiencing unprecedented buying pressure, with the token now targeting a new all-time high of $4 amid a resurgent cryptocurrency bull market. In the past week, XRP’s market capitalization has surged by $40.54 billion, rising from $165.82 billion to $206.36 billion. This massive inflow drove the token’s price to $3.49, representing a 24.65% increase on the weekly timeframe. XRP one-week market cap chart. Source: CoinMarketCap XRP price prediction With XRP seemingly gearing up for a breakout, Finbold consulted OpenAI’s ChatGPT for insight into where the asset could be headed by year-end. According to the model, if current buying momentum holds, XRP could trade between $5 and $7 by December. ChatGPT noted that the surge will likely be fueled by sustained investor demand, which is reinforcing market momentum. At the same time, the anticipated decline in Bitcoin ( BTC ) dominance is likely to redirect capital into altcoins, signaling the start of an altseason, during which XRP, as a top-tier token, is poised to gain significantly. Adding to market optimism is growing regulatory clarity, especially in the U.S. After years of legal uncertainty, more explicit rules are helping to reduce risk for both institutional and retail investors. Notably, this comes as the U.S enacted the Genesis Act, which provides a legal framework for stablecoin, amid the final push towards ending the legal battle between Ripple and the Securities and Exchange Commission (SEC). XRP price prediction. Source: ChatGPT Why XRP is breaking out It’s worth noting that, beyond tracking the broader crypto market , XRP’s rally is being driven by several key developments. Notably, momentum picked up following the approval of the ProShares XRP Futures ETF on July 19, sparking renewed interest from institutions. The move mirrors Bitcoin’s ETF-fueled surge earlier this year. Meanwhile, 11 spot XRP ETF applications are awaiting review, with traders estimating an 88% chance of approval by year-end. Finally, on-chain activity also spiked, with 1.7 billion XRP moved on July 18, marking the highest daily volume in a year and indicating potential whale accumulation, a traditionally bullish signal. Featured image via Shutterstock The post XRP price prediction after monster $40 billion inflow in a week appeared first on Finbold .