Crypto millionaires are hiring bodyguards — and they’re not overreacting

🧠 Why crypto millionaires are hiring bodyguards

Cold storage isn’t enough anymore.

Crypto millionaires around the world are quietly hiring private security teams, armored drivers, and even digital footprint auditors — not because of market volatility, but because the threats have turned physical.

It’s no longer a theoretical risk.

This year alone, there have been more than 20 global cases of kidnappings and physical attacks on high-net-worth crypto holders. In Paris, criminals recently tried (and failed) to kidnap the daughter and grandson of a crypto CEO. In Amsterdam, private security firms like Infinite Risks report a surge in long-term contracts from crypto clients seeking round-the-clock protection.

What’s fueling this?                                                                                                     

• The Coinbase data breach exposed names, addresses, and balances — giving criminals a direct list of targets.

• Hackers are no longer just phishing online — they’re knocking on doors.

• Executives like Brian Armstrong and Jeremy Allaire now require millions in protective services annually.

• Events like EthCC are deploying elite forces and contracting private security to keep attendees safe.
  

Even the French government is stepping in. After a string of attempted kidnappings, Interior Minister Bruno Retailleau announced an emergency police hotline for crypto professionals and promised high-level security coordination.

The stakes are growing.

As blockchain technology goes mainstream, the people behind it are becoming targets. Traders are skipping conferences. Founders are hiding their locations. And security firms are treating digital asset wealth the same way they’d protect royal families or diplomats.

📚 Read Also:

Coinbase hit with 6 lawsuits over massive data breach

Just days after hiring private security teams became the norm for crypto millionaires, Coinbase finds itself at the center of a legal storm. At least six lawsuits have been filed over a May 11 breach that exposed names, balances, and even biometric data — sparking major backlash.

📜 Regulation Watch: 

Ripple win? Not so fast.

Just when it seemed like Ripple and the SEC might be ready to put their years-long legal drama to bed, Judge Analisa Torres threw a wrench into the plan — denying the SEC’s motion for a shortcut judgment revision in the XRP case.

So what now?

Legal experts say: The SEC has work to do.

Pro-crypto attorney John Deaton says that if the SEC wants to fix its position, it’ll have to admit it got things wrong, withdraw past claims, and start aligning with new digital asset legislation in Congress. That includes acknowledging crypto assets like XRP may behave more like commodities — outside the SEC’s direct purview.

Here's what’s on the table:

• SEC must prove XRP sales caused no harm and that its existing injunction is damaging Ripple’s U.S. business prospects.

• Fred Rispoli, another legal voice, says the agency would likely need to file a full motion, list prior settlements, and submit formal admissions that it’s failed to guide the crypto space clearly.

• Expect a few more weeks of back-and-forth before the next court decision.

Internal SEC rift adds tension                                                          

The drama isn’t just playing out in court.
SEC Commissioner Caroline Crenshaw blasted the proposed Ripple settlement, warning it weakens the agency’s crypto enforcement and damages public trust.

“This settlement… does a tremendous disservice to the investing public,” she said in a sharply worded dissent.

📚 Read Also:

Ripple doubles down on UAE growth — even as XRP slumps

Just days after Judge Torres denied the SEC’s motion in the Ripple lawsuit, the company announced new UAE partnerships with Zand Bank and Mamo. The move builds on its DFSA license and reflects growing demand for Ripple Payments across the region.

📊 Market Watch: 

Moody’s US downgrade hits hard — markets, gold, and global sentiment tank

Markets turned red before the opening bell on Monday after Moody’s cut the US credit rating from Aaa to Aa1, citing rising debt and budget strain.

• Dow futures dropped 337 points

• S&P 500 down nearly 1%, Nasdaq 100 off 1.19%

• 30-year Treasury yields spiked to 5.01%

• Gold tumbled 2%, dollar dropped 0.5%

The downgrade follows rising tensions over Trump’s tax bill, which slashes taxes without cutting spending — potentially adding $5.2T to national debt over 10 years.

Asia reacts, China slows

Asian markets also dipped on Monday, reacting to the downgrade and weaker-than-expected China data:

• Hong Kong’s Hang Seng fell 0.05%

• Japan’s Nikkei dropped 0.68%

• South Korea’s Kospi slid 0.89%

Gold, normally a safe haven, was hit hard — but some analysts now expect a Fed rate cut by July or September if economic data keeps cooling.

📚 Read Also:

Japan’s bond market just sent a global warning shot

Japan’s 40-year bond yield just hit a 20-year high — and that’s not good news for anyone.

After Moody’s slashed the U.S. credit rating, Japan’s debt market started trembling. The country’s long-term yield jumped to 3.445%, while Q1 GDP data showed the economy is shrinking again.

🧵 Thread of the day by @CPOfficialtx

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