Prominent Bitcoin supporters are leading the funding of Swedish companies’ BTC acquisition plans. Meanwhile, Coinbase is facing an escalation of legal trouble after disclosing serious violations and regulatory fallout. In other news, a Manhattan crypto investor is arrested in connection with a violent Bitcoin-related lunatic.
More details on these stories will be available in the future.
Adam Back joins investors and raises capital for $2.2 million for H100 Bitcoin push
Blockstream CEO and Bitcoin Advocate Adam Back led the Swedish-based health technology company H100 Group AB funding for SEK 21 million (approximately $2.2 million). The company announced on May 25 that following the strategic shift announced on May 22, funds raised through interest-free, convertible loans will be allocated for Bitcoin acquisitions.
Buck contributed about $1.4 million, with the rest coming from companies such as Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB and Crafoord Capital Partners.
With the capital, the H100 aims to purchase around 20.18 BTC, which will be added to the 4.39 BTC already acquired on May 22nd. This will bring the total holdings to approximately 24.57 BTC. On June 15th, 2028, Zero Interest Loan will mature.
Coinbase faces growing legal pressure after revealing fear tor and data breaches
A new class action lawsuit has been filed against Coinbase and two executives, accusing the company of serious user data breach and failure to disclose UK FCA regulatory issues, reportedly causing a sharp drop in stock prices.
The complaint filed by investor Bradynessler in Pennsylvania Court on May 22, alleges that the event led to a significant drop in shareholder value. Coinbase revealed on May 15 that it could suffer up to $400 million in damage after $20 million in terror attempts and compromises on internal systems by its bridged customer support staff. On the same day, stocks fell 7.2% to $244.
The latest developments add to the rise in Crypto Exchange legal issues in the wake of the announcement of data breach, as multiple lawsuits accusing cases of not properly managing and protecting user information.
Crypto investors arrested for kidnapping and torture in Bitcoin theft
John Waltz, a 37-year-old cryptocurrency investor, has been arrested for luring and torture a man in a luxury Manhattan townhouse. The 28-year-old victim, who recently arrived from Italy, was detained for several weeks, beaten, shocked by electrical wires, and was allegedly threatened with death unless he surrendered his Bitcoin password.
Prosecutors revealed that Woeltz and his accomplice had drugged the victim and physically assaulted him. The victim manages to escape after agreeing to reveal the password stored on the laptop. When Woeltz turned his back, the victim ran away and flagged the officers for help.
The medical examination confirmed injuries consistent with the victim’s explanation of being detained and assaulted. Police seized drugs, weapons, body armor, night vision gear and photos showing the victim carrying a gun while searching for the residence.
Woeltz is charged with tricking, assault, illegal imprisonment and possession of a firearm. He is denied bail and must waive his passport as prosecutors warn him that he has access to private property and helicopters, which poses a flight risk. Authorities also cite unidentified accomplices.
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