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Stillwater police raise alert about scams requiring crypto payments

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Stillwater police raise alert about scams requiring crypto payments

Stillwater police raise alert about scams requiring crypto payments

The City of Stillwater is considering possible restrictions or even an outright ban on cryptocurrency machines, according to city officials.

Stillwater police are reporting scams where residents have been targeted to make cash transactions to digital accounts using cryptocurrency machines.

“Some of them are pretty scary and pretty convincing,” said Stillwater Police Chief Brian Mueller. “We have individuals in our community that are scared out of their wits, and they are bringing wads of money.”

A crypto machine allows a person to purchase digital currency by putting cash into the device, and then the funds are transferred to someone’s account.

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Chief Mueller described some of the scams the department has investigated: “Individuals that are told that their loved ones are being hurt, arrested… or the federal or local government has warrants out for their arrests.”

The scammers tell the person to go to a machine, put in cash and then send the cryptocurrency to settle the issue, according to police.

In a recent letter to Stillwater’s mayor and City Council, Chief Mueller wrote that since 2023, Stillwater police have taken more than 30 crypto-related scam reports — totaling $156,442 of loss — and $73,092 of that had been deposited into various crypto ATMs in the city.

One example Mueller wrote about included a woman who received a phone call that she had received an overpayment into an account that she held.

Stillwater police said the victim was told by the scam artist to deposit $20,000 cash into an Athena Bitcoin ATM located inside the Amoco Gas Station downtown.

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“Thankfully, we had a very alert clerk at that particular gas station and they called 911,” said Detective Sgt. David Wulfing, with Stillwater police. Officers arrived and were able to stop her from putting more of her money into the machine.

Detectives were able to get some of the victim’s money back.

The gas station owner told 5 EYEWITNESS NEWS that he trains staff if they see someone with a lot of cash at the crypto machine, to speak up and ask questions, adding he “cares about his customers.”

The machine is operated by a separate company, which 5 EYEWITNESS NEWS reached out to for comment.

“The most difficult part of these cryptocurrency investigations is many of the perpetrators are outside of the United States,” said Wulfing. “It’s very difficult to get that money back once it’s deposited.”

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Stillwater police said if residents receive emails or phone calls demanding they pay someone, their department is there to help determine if the message is real — just reach out at (651) 351-4900.

“Unfortunately, they prey on the more vulnerable folks, the elderly and the more trusting people,” Wulfing said.

The Minnesota Legislature passed a law last year that required cryptocurrency kiosks to be registered and offer some consumer protections.

According to the Minnesota Department of Commerce, 230 machines are licensed in the state.

Since August, state officials report that 40 consumers who reported losses related to fraud totaling $437,983 have been able to get back $29,894.

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Capital B Completes Capital Increase and Acquires 44 Additional Bitcoin, Now Holds 2,888 BTC

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Capital B Completes Capital Increase and Acquires 44 Additional Bitcoin, Now Holds 2,888 BTC

France-based Capital B, also known as The Blockchain Group, announced the completion of an At-the-Market (ATM) capital increase and warrant issuances on March 23, 2026. This financial restructuring involves partnerships with TOBAM and UTXO Management to support the firm’s specialized focus on data intelligence and decentralized technology.

The company successfully acquired 44 bitcoin ( BTC) for $3.12 million (€2.7 million), bringing its total holdings to 2,888 BTC with an acquisition value of $309.34 million (€267.1 million). Key performance metrics reveal a year-to-date BTC yield of 0.72% and a total BTC gain of 20.4 tokens for the Paris-listed entity.

🧭 FAQs

Where is Capital B headquartered and listed? The company is based in Puteaux, France and listed on the Euronext Growth Paris exchange.

What is the total bitcoin holding for the group? The group and its Luxembourg subsidiary now hold a total of 2,888 BTC.

Who participated in the recent capital raises? TOBAM and UTXO Management provided the funding through ATM contracts and share subscription warrants.

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Does this transaction require a local AMF prospectus? This specific financial transaction does not require a prospectus subject to approval by the AMF.

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Fintech Stock SoFi Technologies Just Proved That the Ultimate Cryptocurrency Has a Clear Use Case | The Motley Fool

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Fintech Stock SoFi Technologies Just Proved That the Ultimate Cryptocurrency Has a Clear Use Case | The Motley Fool

If a company, particularly one that operates in the otherwise boring and slow-moving financial services industry, has seen its revenue soar 133% in three years, it’s clearly doing something right. That’s the best way to describe SoFi Technologies (SOFI +1.48%). The digital banking superstar ended 2025 with almost 13.7 million customers.

Product innovation has been a key pillar of SoFi’s success, and in recent months, this core competency has been on full display. This fintech stock just proved that the ultimate cryptocurrency has a clear use case.

Image source: Getty Images.

Giving its members another tool to better handle their finances

SoFi tapped Lightspark, a payments start-up founded in 2022 by former Meta Platforms executive David Marcus, to enable cross-border payments for its customers. Lightspark provides the back-end infrastructure, while SoFi Pay users can leverage this exciting capability.

This feature leans on the Bitcoin (BTC +3.99%) Lightning network, a Layer-2 protocol that allows for fast and cheap transactions to occur.

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What stands out with this is that SoFi doesn’t necessarily need to be bullish on Bitcoin. The management team simply picked what it thought was the most capable technological solution that could rapidly integrate and scale up. Since it was introduced in August last year, SoFi Pay now facilitates remittances to over 30 countries.

At a high level, the person sending the money and the person receiving the money deal with their own respective local currencies. Underneath the hood, SoFi and Lightspark handle the conversion to and from Bitcoin.

Besides how easy the feature is to use, SoFi could save its customers a lot of money. In 2024, $138 billion of remittances were sent from the U.S. to India, for example. Money-transfer services charge average fees that can be well above 5% of the value being sent.

Bitcoin Stock Quote

Today’s Change

(3.99%) $2717.74

Current Price

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$70898.00

Propelling the top digital asset to its next stage of development

This product introduction shows how innovative SoFi is, as the popular banking platform isn’t afraid to try new things with the top priority being to better serve its members.

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Additionally, this move is a clear signal to the rest of the world that Bitcoin has a use case in the finance world. Looking ahead, it will be important to pay attention to any commentary SoFi’s leadership team provides on adoption trends. Other banks might choose to do something similar.

I believe we’re now witnessing the early innings of Bitcoin’s next evolutionary phase to becoming a medium of exchange. It has been a wonderful investment, with a trailing 10-year return of 18,000% (as of March 18). While I expect strong gains to continue, the crypto asset’s ability to transfer value around the globe is impossible to overstate and will be critical for its long-term viability.

Should Bitcoin be leaned on more for its utility value, it provides durable demand. This can support a higher price in the future.

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The Best Crypto to Buy for Long-Term Investors Right Now | The Motley Fool

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The Best Crypto to Buy for Long-Term Investors Right Now | The Motley Fool

Despite its position as a multitrillion-dollar asset class, the cryptocurrency industry is still trying to prove itself as a viable place to park capital. Volatility remains a challenge. And there is no shortage of critics who still believe these digital assets serve no purpose.

Even after considering these arguments, investors might want to test the waters for the sake of boosting the returns of their portfolios. Here’s the best cryptocurrency that long-term investors should buy.

Image source: Getty Images.

Start with the world’s prime digital asset

According to coinmarketcap.com, there are tens of millions of different cryptocurrencies out there that make up this relatively new asset class. That huge figure can distract investors who are serious about where to allocate their hard-earned savings. In this situation, simplicity is key. Stick to the proven crypto that has developed a dominant position: Bitcoin (BTC 0.57%).

Bitcoin has been around for more than 17 years, ever since its first block was mined in January 2009. This makes it the first cryptocurrency. Its market cap of $1.4 trillion (as of March 18) gives it almost 60% share of the entire industry.

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And the performance is phenomenal. In the past 10 years, Bitcoin’s price has skyrocketed 18,000%. It has been one of the best assets that anyone could have owned this century.

You might be wondering what problem Bitcoin solves. It was created to be a solution to the current monetary system, which has its own issues. These center on persistent currency debasement and monumental, ever-increasing amounts of sovereign debt.

Bitcoin’s absolute scarcity, shown by its hard supply cap of 21 million units, is its most compelling feature. It’s also not controlled by a single entity, is completely decentralized, and has never been hacked.

Bitcoin Stock Quote

Today’s Change

(-0.57%) $-390.91

Current Price

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$68392.00

Expect the volatility to continue, but the gains can be massive

Because Bitcoin is an emerging monetary asset, the volatility isn’t going away just yet. Over time, the price swings have gotten less extreme. However, the ups and downs are something long-term investors can’t avoid. This isn’t unique to Bitcoin. Some of the most impressive technology stocks over the past couple of decades, like Nvidia, Amazon, and Netflix, were extremely difficult to hold on to during times of intense volatility.

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As was the case with those disruptive businesses, patient investors will be rewarded in this situation. Bitcoin is currently trading 41% below its record price from about five months ago. But it has historically always recovered to reach newer all-time highs. Its fundamentals, particularly around network security, transaction volume, and adoption trends, are all in strong shape.

Investors who can buy Bitcoin and hold for 10 years are setting themselves up for success.

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