Disclaimer: This article contains a video that may be disturbing for some readers.
A brazen attempt to kidnap the daughter and grandson of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, was foiled after the daughter and passersby reportedly fought off the kidnappers.
Three masked men attacked Noizat’s daughter and a male partner on May 13 while she was walking with her son in Paris’ 11th district. The assailants tried to force Noizat’s daughter and her son into a waiting van, the French state-owned media outlet France24 reported on May 13.
The accompanying male partner was assaulted when he tried to intervene, but Noizat’s daughter resisted and managed to take one of the guns off an assailant in a scuffle and throw it away, police said.
En plein Paris, un homme a été violenté par des individus cagoulés, habillés tout en noir. Ils tentaient de l’enlever. Un homme a surgi, extincteur à la main, pour les faire fuir. →https://t.co/P0qV6PR40vpic.twitter.com/9f4r2Gi7ho
Eventually, people passing by intervened, and the masked assailants fled in the van, which was found nearby. All three victims suffered injuries and were taken to a local hospital.
Local outlet Le Parisien reported that the botched daylight kidnapping is being investigated by the Brigade for the Suppression of Banditry, a special police unit of the French Ministry of the Interior.
Michael Englander, co-founder and CEO of Polish crypto exchange Plasbit, says this incident should serve as a wake-up call for the rest of the industry.
“If you’re in crypto and still flaunting it online, you’re not just stupid, you’re putting your family in danger,” he said in a May 13 post to X.
Offline crypto-linked attacks grow
Crypto-focused lawyer Sasha Hodder said on X that “crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.”
On May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euro ($7.8 million) kidnapping plot.
At the start of the year, David Balland, co-founder of crypto hardware wallet manufacturer Ledger, was abducted from his home in central France during the early hours of Jan. 21. He was held captive until a police operation on the night of Jan. 22 secured his release.
Jameson Lopp, a cypherpunk and co-founder of self-custodial firm Casa, has created a list on GitHub recording dozens of offline crypto robberies, with 22 incidents of in-person crypto-related theft so far this year.
A University of Cambridge study in September found these so-called “wrench attacks” are often underreported due to revictimization fears and involve a diverse group of attackers ranging from organized crime groups to friends and family.
Stablecoin issuer Tether bought $458.7 million worth of Bitcoin for Twenty One Capital, a Bitcoin investment firm it backed that’s awaiting the completion of a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners.
Tether snapped up 4,812.2 Bitcoin (BTC) at $95,319 each and transferred it to an escrow wallet on May 9, Cantor Equity Partners disclosed in a May 13 filing with the US Securities and Exchange Commission.
It brings Twenty One’s total Bitcoin holdings to 36,312 BTC, as Cantor Equity Partners holds 31,500 BTC on behalf of the firm, which will trade under the ticker XXI once the SPAC merger is complete.
Twenty One’s CEO, Jack Mallers, said on May 13 that they’re already in the approval process of the merger, but didn’t give an exact estimate on when the transaction would be complete.
Twenty One is already the third largest corporate Bitcoin holder, trailing only Strategy and Bitcoin mining firm MARA Holdings at 568,840 Bitcoin and 48,237 Bitcoin, respectively, BitcoinTreasuries.net data shows.
Tether is a majority stakeholder in Twenty One alongside crypto exchange Bitfinex. The Wall Street heavyweight Cantor Fitzgerald is sponsoring the merger, providing financial advisory services and securing $585 million in funding to support Twenty One’s Bitcoin investments.
Japanese investment holding firm SoftBank also invested $900 million into Twenty One, which is led by Strike CEO Jack Mallers.
Strategy may have a legitimate competitor
Twenty One said in an April presentation to the SEC that is looking to supplant Michael Saylor’s Strategy, formerly MicroStrategy, to become the “superior vehicle” for investors seeking “capital-efficient Bitcoin exposure.”
The company is among many Bitcoin buying firms, but promises to be a “pure play” for investors seeking Bitcoin exposure with Bitcoin-native operations and more flexibility for strategic capital raises.
Twenty One Capital’s comparison of its Bitcoin treasury plan to that of Strategy’s. Source: SEC
Twenty One said its key success metric will be Bitcoin per share and not the traditional earnings per share metric, as it will prioritize buying up Bitcoin over making a profit.
Twenty One is aiming to reach 42,000 Bitcoin by the time it launches. Earlier filings showed that 23,950 Bitcoin is expected to come from Tether, 10,500 Bitcoin from Softbank and about 7,000 Bitcoin from Bitfinex, which will be converted into equity at $10 per share.
Cantor Equity Partners’ (CEP) share price soared from $10.65 to $59.73 on May 2 but has since fallen back to $29.84, Google Finance data shows. CEP rose another 5.2% in after-hours following the recent purchase.
Bitcoin price holds above $100,000, driven by “risk-on” sentiment after the CBOE Volatility Index (VIX) dropped to 20.
The Bitcoin Bull Score Index surged to 80, and the Fear & Greed Index suggests growing optimism, with historical patterns indicating potential for further price gains.
Bitcoin (BTC) price continues to consolidate higher above $100,000 after the CBOE Volatility Index (VIX) dropped to its 30-year average of 20, down from a peak of 60 earlier in 2025. This decline follows a US-China trade deal on May 12, which introduced a 90-day tariff pause and a 115% reduction on both sides.
CBOE Volatility Index chart. Source: X.com
The agreement has fueled a “risk-on” sentiment, boosting Bitcoin and equities as investors lean into higher-risk assets, according to Bitcoin network economist Timothy Peterson. The analyst said,
“$VIX dropped substantially yesterday on news of a potential China trade deal. It is now at ‘normal’ levels. This will be a ‘risk on’ environment for the foreseeable future.”
Adding to the bullish sentiment, the US Consumer Price Index (CPI) inflation rate dropped to 2.3% year-over-year in April 2025, the lowest since February 2021, down from 2.4% in March and below consensus forecasts of 2.4%. This softer-than-expected CPI reading signals easing inflationary pressure, potentially increasing the likelihood of Federal Reserve interest rate cuts in 2025, assuming other economic indicators align.
With respect to the current macroeconomic dynamics—lower volatility, cooling inflation, and a trade war truce- it creates favorable market conditions for Bitcoin.
Earlier this month, Peterson noted that BTC could reach $135,000 within 100 days, citing a drop in the CBOE Volatility Index (VIX) from 55 to 25, signaling a “risk-on” environment. With 95% accuracy, his model links low VIX levels to increased investor confidence in riskier assets like Bitcoin.
After posting one of its least bullish phases in two years during April, Bitcoin sentiment flipped drastically to its highest reading in 2025. Data from CryptoQuant indicated a dramatic rise in the Bitcoin Bull Score Index, soaring from 20 to 80, a level historically associated with significant price surges.
Bitcoin: bull score index. Source: CryptoQuant
This shift, driven by rising spot demand outpacing supply, reflects patterns observed after the April 2024 halving, suggesting Bitcoin could be poised for further gains.
Likewise, Bitcoin researcher Axel Adler Jr noted that while the Bitcoin Fear & Greed Index is climbing, currently at 53.3%, it remains below the “overloaded” zone above 80%. The analyst discussed the possibility of a market “upswing,” expressing hope for a successful test and surpassing Bitcoin’s all-time high near $110,000.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Two US senators are calling on Treasury Secretary Scott Bessent to “exercise [the department’s] authority” and change a provision affecting taxes on corporate holdings of digital assets.
In a May 12 letter, Senators Cynthia Lummis and Bernie Moreno suggested Bessent had the authority to change the definition of “adjusted financial statement income” under existing US law in a way that could reduce what digital asset companies pay in taxes. The proposed adjustment was suggested as a way to modify a provision of the Inflation Reduction Act, signed into law in 2022.
“Our edge in digital finance is at risk if US companies are taxed more than foreign competitors,” said Lummis in a May 13 X post.
May 12 letter to Treasury Secretary Scott Bessent. Source: Cynthia Lummis
According to the two senators, the proposed modification would provide “relief to corporations that invest in digital assets.” Lummis has been one of the most outspoken digital asset advocates in Congress, while Moreno took office in January after crypto-backed political action committees spent roughly $40 million to support his 2024 Senate race.
The Inflation Reduction Act, which went into effect in 2023, imposes a 15% minimum tax on companies that report more than $1 billion in profits for three consecutive years. The measure would seemingly include unrealized crypto gains and losses, leading to Lummis’ and Moreno’s calls for the Treasury Department to “act swiftly.”
Senate awaiting second vote on stablecoin bill
The call from the two senators came as lawmakers in the Senate are expected to consider another vote on the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act — legislation to regulate payment stablecoins in the US. A motion for consideration failed to move forward in the Senate on May 8 due to Democratic lawmakers pushing back on Donald Trump’s ties to the crypto industry.
Lummis, one of the bill’s co-sponsors, suggested that she would continue to support digital asset regulation. The Senate could take up another vote in a matter of days.
We’re excited to announce a big surprise for the AI community — TechCrunch Sessions: AI is getting a limited-time discount to broaden the number of people who can attend and learn from some of the brightest minds in the industry. For just $292, you can get a general admission ticket — plus a 50% discount […]
Google is testing a redesign of its Search homepage in which “AI Mode,” the experimental AI-powered search feature the company rolled out earlier in May, replaces its longstanding “I’m Feeling Lucky” button under the Search bar. A company spokesperson confirmed to The Verge, which was the first to report the change, that the feature began […]
At long last, digital consumer bank Chime has moved forward with its IPO by filing its S-1 paperwork Tuesday. Chime had reportedly filed confidential S-1 paperwork back in December. S-1 filings typically reveal all kinds of information, covering financial, legal, and other risk factors. But Chime’s S-1 documents still have a lot of blank spaces. […]
Elon Musk’s AI company, xAI, has missed a self-imposed deadline to publish a finalized AI safety framework, as noted by watchdog group The Midas Project. xAI isn’t exactly known for its strong commitments to AI safety as it’s commonly understood. A recent report found that the company’s AI chatbot, Grok, would undress photos of women when […]
Work-Bench, whose portfolio includes unicorns Spring Health and Socure, just raised a $160 million Fund IV to quadruple down on backing companies in New York City. The firm announced the raise in a blog post on Monday, saying the latest fund will support seed-stage founders building enterprise software. Checks will range from $2 million to […]
This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology.
A US court just put ownership of CRISPR back in play
The CRISPR patents are back in play.
Yesterday, the US Court of Appeals for the Federal Circuit said scientists Jennifer Doudna and Emmanuelle Charpentier will get another chance to show they ought to own the key patents on what many consider the defining biotechnology invention of the 21st century.
The pair shared a 2020 Nobel Prize for developing the gene-editing system, which is already being used to treat various disorders.
But when US patent rights were granted in 2014 to Feng Zhang of the Broad Institute of MIT and Harvard, the decision set off a bitter dispute in which hundreds of millions of dollars—as well as scientific bragging rights—are at stake. Read the full story.
—Antonio Regalado
To read more about CRISPR, why not take a look at:
+ Charpentier and Doudna announced they wanted to cancel their own CRISPR patents in Europe last year. Read the full story.
+ How CRISPR will help the world cope with climate change. Read the full story.
+ The US has approved CRISPR pigs for food. Pigs whose DNA makes them resistant to a virus could be the first big consumer product using gene editing. Read the full story.
Police tech can sidestep facial recognition bans now
—James O’Donnell
Six months ago I attended the largest gathering of chiefs of police in the US to see how they’re using AI. I found some big developments, like officers getting AI to write their reports. Now, I’ve published a new story that shows just how far AI for police has developed since then.
It’s about a new method police are using to track people: an AI tool that uses attributes like body size, gender, hair color and style, clothing, and accessories instead of faces. It offers a way around laws curbing the use of facial recognition, which are on the rise.
Here’s what this tells us about the development of police tech and what rules, if any, these departments are subject to in the age of AI. Read the full story.
This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here.
The must-reads
I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology.
1 Two Trump officials were denied access to the US Copyright Office Their visit came days after the administration fired the office’s head. (Wired $) + Shira Perlmutter oversaw a report raising concerns about training AI with copyrighted materials. (WP $)
2Google knew it couldn’t monitor how Israel might use its cloud technology But it went ahead with Project Nimbus anyway. (The Intercept)
3 Spain still doesn’t know what caused its massive power blackout Investigators are examining generators’ cyber defences for weaknesses. (FT $) + Could solar power be to blame? (MIT Technology Review)
4 Apple is considering hiking the price of iPhones The company doesn’t want to blame tariffs, though. (WSJ $) + Apple boss Tim Cook had a call with Trump following the tariff rollback news. (CNBC) + It’s reportedly developing an AI tool to extend phones’ battery life. (Bloomberg $)
5 Venture capitalists aren’t 100% sure what an AI agent is That isn’t stopping companies from sinking millions into them. (TechCrunch) + Google is working on its own agent ahead of its I/O conference. (The Information $) + What AI assistants can—and can’t—do. (Vox) + Check out our AI agent explainer. (MIT Technology Review)
6 Scammers are stealing the identities of death row inmates And prisoners are unlikely to see correspondence alerting them to the fraud. (NBC News)
7 Weight-loss drugs aren’t always enough You need long-term changes in health, not just weight. (The Atlantic $) + How is Trump planning to lower drug costs, exactly? (NY Mag $) + Drugs like Ozempic now make up 5% of prescriptions in the US. (MIT Technology Review)
8 China’s e-commerce giants are racing to deliver goods within an hour As competition has intensified, companies are fighting to be the quickest. (Reuters)
9 This spacecraft will police satellites’ orbits And hunt them down where necessary. (IEEE Spectrum) + The world’s biggest space-based radar will measure Earth’s forests from orbit. (MIT Technology Review)
10 Is your beard trimmer broken? Simply 3D-print a new part. Philips is experimenting with letting its customers create their own replacements. (The Verge)
Quote of the day
“We usually set it up so that our team doesn’t get to creep in.”
—Angie Saltman, founder and president of tech company Saltmedia, explains how her company helps store Indigenous data securely away from the Trump administration, the Verge reports.
One more thing
Meet the radio-obsessed civilian shaping Ukraine’s drone defense
Drones have come to define the brutal conflict in Ukraine that has now dragged on for more than three years. And most rely on radio communications—a technology that Serhii “Flash” Beskrestnov has obsessed over since childhood.
While Flash is now a civilian, the former officer has still taken it upon himself to inform his country’s defense in all matters related to radio. Once a month, he studies the skies for Russian radio transmissions and tries to learn about the problems facing troops in the fields and in the trenches.
In this race for survival—as each side constantly tries to best the other, only to start all over again when the other inevitably catches up—Ukrainian soldiers need to develop creative solutions, and fast. As Ukraine’s wartime radio guru, Flash may just be one of their best hopes for doing that. Read the full story.
—Charlie Metcalfe
We can still have nice things
A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.)
+ Tune in at any time to the Coral City Camera, an underwater camera streaming live from an urban coral reef in Miami + Inhuman Resources, which mixes gaming, reading, and listening, sounds nuts. + This compilation of 331 film clips to recreate Eminem’s Lose Yourself is spectacular. + Questions I never thought I’d ask: what if Bigfoot were British?
