Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From Coinbase's European expansion and Korean biotech Bitcoin makeovers to TikTok memecoin drama and Parisian crypto kidnappings, we've got quite the international smorgasbord to unpack. So, buckle up and get ready for a wild ride through the wonderland of regulatory wins, creative workarounds, and unfortunately, some very real security concerns!

INTEL BRIEF

🟧 Coinbase has secured a MiCA license from Luxembourg and established its European headquarters there, joining other major exchanges in capitalizing on EU regulatory clarity as crypto adoption rises across Europe.

🟧 Parataxis Holdings acquired Korean biotech firm Bridge Biotherapeutics for $18.5 million to launch a Bitcoin treasury platform in South Korea, circumventing local crypto investment restrictions through corporate acquisition.

🟧 TikTok denied accusations by Congressman Brad Sherman that its owners are buying $300 million worth of Trump's memecoin, calling the claims "patently false and irresponsible" amid ongoing TikTok ban delays.

🟧 A 23-year-old crypto user was kidnapped in Paris and held for ransom over his Ledger hardware wallet, highlighting the growing global trend of "wrench attacks" targeting cryptocurrency holders.

Coinbase Secures European License and Sets Up Shop in Luxembourg

Coinbase just pulled off what might be the smoothest European expansion since someone figured out you could put chocolate in croissants. The crypto exchange giant has officially secured a Markets in Crypto-Assets (MiCA) license from Luxembourg's financial watchdog, giving them the golden ticket to serve crypto goodies across all European Union countries.

Coinbase didn't just get a license - they went full commitment mode and named Luxembourg as their new European headquarters. Because nothing says "we're serious about Europe" quite like setting up shop in a country that's basically the Switzerland of crypto regulation, minus the fondue but with all the financial sophistication.

The timing couldn't be more perfect, considering Luxembourg has been playing the long game since 2019, gradually crafting crypto regulations. As Coinbase noted, the country is "actively pursuing a whole-of-government approach to blockchain and DLT" and has passed four blockchain-related policies through their national legislature. That's more crypto-friendly legislation than some countries have passed in total!

Coinbase isn't exactly breaking new ground here though - they're joining the MiCA license club that already includes OKX and Crypto.com, plus Bybit, with Gemini reportedly waiting in the wings.

The market seems to love this European adventure - Coinbase shares jumped 4.95% on the announcement day, climbing from $295.29 to $309.92. Not bad for a day's work in bureaucratic excellence! This comes hot on the heels of their $2.9 billion Derebit acquisition and their historic S&P 500 inclusion in May.

European crypto adoption is reportedly booming, with an estimated 10%-20% of European investors dipping their toes in digital asset waters, and 70% of crypto payments going toward everyday stuff like retail and food.

Coinbase secures MiCA license and establishes Luxembourg as European headquarters

Joins OKX, Crypto.com, and Bybit in the exclusive EU crypto exchange club

European crypto adoption rising with 10-20% of investors having crypto exposure

French Crypto User Gets Kidnapped Over His Ledger Wallet in Paris

Parataxis Holdings just pulled off a masterclass move by acquiring a Korean biotech company for the sole purpose of turning it into a Bitcoin treasury platform.

Parataxis reportedly dropped 25 billion South Korean won (that's $18.5 million for those keeping score) to snag Bridge Biotherapeutics, a publicly traded biotech firm that was probably expecting to spend 2025 curing diseases, not hodling Bitcoin. The company will allegedly be renamed Parataxis Korea and repurposed as a "treasury vehicle for institutional Bitcoin exposure" because apparently even biotech companies can become crypto converts.

Andrew Kim, Partner at Parataxis Capital, explained they were "inspired by the growing interest in BTC treasury strategies" seen in companies like MicroStrategy in the US and Metaplanet in Japan. Kim added that South Korea represents "an important market in the evolution of BTC adoption," which is corporate speak for "we found a loophole!"

Bitcoin ETFs and institutional crypto investments are currently banned in South Korea. But leave it to creative financial engineering to find a way around regulatory roadblocks! The country's Financial Services Commission has reportedly allowed 3,500 corporations and professional investors to open "real-name" accounts in the first half of 2025 as part of a pilot program.

The timing is particularly interesting since Parataxis announced plans to go public through a $200 million SPAC just over a week ago. Nothing says "we're serious about Bitcoin" quite like multiple corporate maneuvers happening simultaneously!

Bridge Biotherapeutics' stock jumped over 20% following the acquisition news, though it's still down 74% year-to-date and over 90% from its five-year high. Meanwhile, the broader corporate Bitcoin adoption trend continues, with over 237 public companies now holding Bitcoin, representing roughly 3.96% of total BTC supply according to BitcoinTreasuries.NET.

Parataxis acquires Korean biotech for $18.5M to create Bitcoin treasury platform

Circumvents South Korea's crypto investment bans through corporate acquisition strategy

Bridge Bio stock jumps 20% while 237+ public companies now hold Bitcoin treasuries

TikTok Denies Buying Trump Memecoins After Congressman's Bribery Claims

California Democratic Representative Brad Sherman apparently woke up Thursday morning and chose chaos by accusing TikTok's Chinese owners of dropping $300 million on President Trump's official memecoin as some sort of elaborate digital bribe. TikTok's response? A polite but firm "absolutely not, sir."

The official TikTok Policy account hopped on X faster than a viral cat video to deny Sherman's wild allegations, calling them "patently false and irresponsible." They even threw some shade by pointing out that Sherman's claims "doesn't even accurately reflect a letter you signed last month." Nothing like getting fact-checked by the company you're trying to drag through the mud!

Sherman's conspiracy theory seems to stem from reports about GD Culture Group, a Nasdaq-listed company that produces AI-enhanced content on TikTok, announcing plans to buy $300 million worth of Trump memecoin and Bitcoin. GD Culture reportedly has "no known formal ties to TikTok or its parent firm ByteDance.

Trump just signed another executive order to delay the TikTok ban or sale for the third time, giving the platform another 90 days to find a buyer. Sherman argues that US laws only allow one extension, claiming Trump's failure to enforce the ban is illegal. Meanwhile, Trump apparently created his Sherman "at no cost," leading Sherman to allege this is just a $300 million bribe going "right into his pocket."

The online community wasn't having Sherman's drama, with many users calling his allegations untrustworthy. One particularly spicy comment read: "No one wants TikTok banned, except the Israeli lobby, aka your puppet masters." Others questioned whether you can actually create a cryptocurrency "at no cost" because apparently even memecoin economics are more complex than Sherman realizes.

This whole mess highlights the ongoing battle between Sherman's anti-crypto stance and the Trump administration's crypto-friendly approach, which includes promoting US dollar-pegged stablecoins to strengthen dollar sovereignty.

TikTok denies buying Trump memecoins after Congressman Sherman's $300M bribery accusations

GD Culture Group's purchase plans sparked confusion despite having no formal TikTok ties

Community pushes back against Sherman's claims amid ongoing TikTok ban delays

French Crypto User Gets Kidnapped Over His Ledger Wallet in Paris

A 23-year-old crypto enthusiast in Paris learned this the hard way when he was allegedly kidnapped in Maisons-Alfort and held captive for several hours while criminals demanded his partner fork over 5,000 euros ($5,764) in cash plus the keys to his Ledger hardware wallet.

According to Le Parisien, the victim was reportedly held on Tuesday before being released in Créteil, and as of Thursday, no arrests had been made. The criminals allegedly used violence to extract information about his digital assets, because apparently asking nicely wasn't in their playbook.

This incident is just the latest in France's growing collection of crypto-related crimes. Back in May, three men reportedly tried to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of crypto exchange Paymium. Because nothing says "sophisticated financial crime" quite like going after someone's family members!

These "wrench attacks" (yes, that's the actual term for physically attacking someone for their crypto) aren't just a French phenomenon. Jameson Lopp, an early Bitcoin adopter and co-founder of BTC custody company Casa, has reportedly documented 232 physical attacks on crypto holders over the past 11 years.

The global nature of this problem is genuinely terrifying. New York has seen individuals indicted for kidnapping tourists to access their crypto wallets, while news outlets in India, Hong Kong, the Philippines, and Spain have all reported similar kidnapping and ransom cases over the past five years. Even Hal Finney, the recipient of the first-ever Bitcoin transaction, was "swatted" back in 2014 after threats to expose his personal information unless he paid a crypto ransom.

It turns out that all the hardware wallet security in the world can't protect you from the oldest attack vector known to humanity - good old-fashioned physical violence. Your Ledger might be unhackable, but unfortunately, you're not! This serves as a sobering reminder that operational security in crypto isn't just about protecting your private keys - it's about protecting yourself..

23-year-old kidnapped in Paris over Ledger wallet and 5,000 euros ransom demand

232 physical crypto attacks documented globally in past 11 years according to Jameson Lopp

"Wrench attacks" spreading worldwide from New York to Hong Kong targeting crypto holders

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From Luxembourg licenses to Korean corporate pivots, memecoin conspiracies to hardware wallet heists, today's crypto world reminded us that digital assets are anything but boring. Remember to stay curious, stay informed, and most importantly, stay safe out there. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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