Alabama drops staking lawsuit against Coinbase  

Crypto entrepreneurs and their families in France will receive enhanced security measures amid a recent rise in crypto-related kidnappings in the country, Politico reported.According to the May 16 report, the measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement to ensure best practices are being followed.France’s Interior Minister Bruno Retailleau introduced the security measures as part of a broader effort to counter the recent wave of attacks.”These repeated kidnappings of professionals in the crypto sector will be fought with specific tools, both immediate and short-term, to prevent, dissuade and hinder in order to protect the industry.”Law enforcement officers will also undergo “anti-crypto asset laundering training,” Retailleau noted.Retailleau met with several local leaders from the crypto industry to discuss the measures following three crypto-related kidnapping incidents in recent months.Two kidnappings and a failed attempt in France this yearThe latest incident occurred on May 13, when assailants attempted to abduct the daughter and grandson of Pierre Noizat, CEO of the French crypto platform Paymium. Fortunately, they managed to fend off the attack, which occurred in broad daylight. The assailants tried to force the pair into a waiting van, but Noizat’s daughter managed to take one of the guns off an assailant and throw it away, local 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/P0qV6PR40v pic.twitter.com/9f4r2Gi7ho— Le Figaro (@Le_Figaro) May 13, 2025On May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euros ($7.8 million) kidnapping plot.Related: SEC hacker sentenced to 14 months in prisonIn January, the co-founder of crypto hardware wallet provider Ledger, David Balland, 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.Retailleau said earlier this week that he believes the incidents were likely connected.There have been over 150 crypto-related robbery or kidnapping incidents since 2014, with 23 of those incidents occurring in 2025 alone, according to a GitHub database maintained by Bitcoin cypherpunk Jameson Lopp.Lopp noted many of these criminals typically identify future victims through social media posts, public conversations, meetups, and conferences.He strongly advises against peer-to-peer trades — particularly with people you don’t trust — flaunting wealth on social media and wearing crypto-branded clothing.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens

Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator.In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come just one day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO.“It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the US and global economies,” said Romero.Romero and Mersinger’s upcoming departures would leave the CFTC with only two Senate-confirmed members: acting chair Caroline Pham and Commissioner Kristin Johnson, each taking one Republican and Democratic seat, respectively. The shakeup in leadership gives President Donald Trump the opportunity to pick two more commissioners after the Senate addresses Quintenz’s nomination.This is a developing story, and further information will be added as it becomes available.

A federal judge has sentenced Eric Council Jr., one of the individuals responsible for posting a fake message announcing regulatory approval of spot Bitcoin exchange-traded funds, to 14 months in prison.Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud. He was part of a group that compromised the X account of the US Securities and Exchange Commission (SEC) through a SIM swap attack in January 2024, claiming the regulatory body would be approving spot Bitcoin (BTC) ETFs.“Schemes of this nature threaten the health and integrity of our market system,” said Jeanine Pirro, interim US Attorney for the District of Columbia. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies.”Prosecutors had requested that the judge impose a two-year sentence, while Council’s lawyers asked for one year and one day. Court filings showed he earned roughly $50,000 through SIM swap attacks like the one that compromised the SEC’s X account — funds likely subject to forfeiture.Related: Coinbase faces $400M bill after insider phishing attackThe judge ordered Council to serve 36 months of supervised release after his sentence. It was unclear at the time of publication when he would report to prison, but he has been free on a personal recognizance bond since his arrest in October 2024.Other crypto figures have their days in courtCouncil was the latest individual to be sentenced who drew the attention of the crypto industry. Though high-profile criminal cases like those involving executives from cryptocurrency exchange FTX have largely been concluded, others remain ongoing.On May 8, former Celsius CEO Alex Mashinsky was sentenced to 12 years following his guilty plea on two felony counts. The criminal trial of former SafeMoon CEO John Karony is also expected to continue for several more days in the US District Court for the Eastern District of New York.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee