Crypto
Wood County Sheriff’s Department pushes for cryptocurrency kiosk protections
WOOD COUNTY, Wis. (WSAW) – The Wood County Sheriff’s Department is hoping a bill that would protect victims from scams involving cryptocurrency kiosks will soon be signed into law. It passed with bipartisan support on Tuesday.
Scammers have used kiosks to take thousands of dollars from victims in north central Wisconsin. Scammers convince people to first deposit cash. It’s then turned into bitcoin and sent to scammers.
The Wood County Sheriff’s Department first received complaints about scams involving cryptocurrency kiosks three years ago. Since then, they’ve been investigating reports and testifying for change.
Sheriff Shawn Becker has been sounding the alarm.
“We did push, we did communicate, communicate with our law enforcement agencies, communicate with other legislators, anybody that would be willing to listen,” Becker said.
Legislation passes with bipartisan support
Lawmakers have been working to impose regulations on these kiosks. One element would require operators to reimburse victims.
“I’m hoping that we can go retroactively to the investigations that we’ve been handling and where we’ve kept the money at the sheriff’s department, and we can give it right back to that victim. And that’s going to be a great day, quite honestly,” Becker said.
The department has thousands of dollars in evidence they seized that they’ll be able to return to victims if the bill is signed into law.
The legislation also includes daily $1,000 transaction limits.
“That limitation is really going to be effective, because somebody can’t walk in there with $20,000 or even more and put it into the machine,” Becker said.
It also requires operators to add warning labels to kiosks. It also requires kiosks to be more than five feet away from ATMs.
“It took many, many people to be involved in this and understand it’s a process to create legislation and we’re there. And we’re really happy with the end result,” Becker said.
Becker also gave an update about a lawsuit from last year. A crypto vendor sued the department for seizing cash from their bitcoin machines. They’ve now settled. Becker said he didn’t agree with that, but it showed they needed to continue pushing for change.
AARP Wisconsin supporting legislation
Raj Shukla is the Wisconsin state director for AARP. He said this legislation does a lot to stop scammers in their tracks and protect victims, especially since it puts $1,000 daily transaction limits on kiosks.
“That means that people won’t be losing a lifetime’s worth of life savings in just a day. It provides for receipts for every transaction so that law enforcement can track transactions and find scammers faster,” Shukla said.
Shukla said the consumer protections that exist on ATMs don’t exist on cryptocurrency machines. He said this legislation levels the playing field.
Shukla is hoping the bill is signed into law this week. He said scams involving cryptocurrency are rampant right now.
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Crypto
British Airline Jet2 Shares Jump 9% After $536M Fuel Hedge Gain Offsets Middle East Travel Fears
Key Takeaways
- Jet2 recorded a $536 million balance sheet windfall on July 8 after locking in low-cost fuel derivatives.
- The Middle East conflict triggered a 67% decline in annual cash inflows as travelers delayed holiday bookings.
- CEO Steve Heapy announced a $335 million buyback program and expanding operations at London Gatwick Airport.
Sector Resilience Amid Fuel Volatility
British airline and package holiday provider Jet2 defied intense geopolitical instability and travel sector panic triggered by the Middle East war by reporting a more than $500 million balance sheet boost, fueled by the rising price of jet fuel.
As the conflict in the Middle East escalated, spiking fuel rates caused the value of the company’s fuel derivatives to soar. According to Jet2’s full financial results released July 8, an extra $536 million in income was primarily driven by these favorable fair value movements.
The financial buffer comes after widespread fears earlier this year that rising energy costs could push airlines into bankruptcy and force massive summer holiday cancellations. In the United States, higher fuel prices contributed to the collapse of low-budget airline Spirit in May. The United Kingdom had been labeled as the nation “most exposed” to the jet fuel crisis, forcing government ministers to scramble to protect airline fuel access and temporarily suspend airport capacity rules.
While Jet2 was able to mitigate the price shock, the broader conflict still took a toll on booking behaviors. The airline conceded that ongoing travel uncertainty from the war caused holidaymakers to delay their trips and book much closer to their departure dates than usual. As a result, Jet2’s cash inflow plummeted by 67% to approximately $103 million for the fiscal year ending March 31.
Financially, Jet2 reported mixed full-year results. Group revenue climbed 4% to $10.05 billion, but pre-tax profit slipped 7% to $738.6 million, hit hard by lower income earned on its cash deposits.
Despite the profit dip, operational metrics showed strong consumer demand. Jet2 increased its total seat capacity by 8% to 24 million and flew 20.8 million passengers — a 5% increase year-over-year. The company also announced a new $335 million share buyback program, pointing to robust liquidity and confidence in its midterm outlook.
On the stock market, shares of the AIM-listed company jumped 9% to $19.92 at Wednesday’s opening bell, leaving the stock up 5% for the year.
Chief Executive Issues Tax Warning
The financial report coincided with an aggressive political warning from Jet2 Chief Executive Steve Heapy. Speaking to shareholders, Heapy cautioned political figures — specifically naming prominent politician Andy Burnham — against treating the aviation and holiday industry as a “cash cow.”
Burnham is widely anticipated to enter Downing Street later this month following recent political shifts.
“Don’t treat the aviation or holiday industry as a cash cow, because taxes increase the price of flying,” Heapy said, pointing out that Jet2 had to absorb $67 million in additional regulatory and tax costs over the last year. “I think, you know, enough is enough.”
Operationally, Jet2 is pushing a major expansion strategy designed to challenge the UK’s dominant legacy carriers. In March, the airline launched a six-aircraft hub at London Gatwick Airport, signaling an aggressive move out of its traditional northern England strongholds. The company notes it now operates within a 90-minute drive of more than 90% of the UK population.
Key Takeaways
- LAB token cratered 90% over 48 hours, wiping out billions in market cap.
- ZachXBT slammed top centralized exchanges for failing to halt the July manipulation.
- Investors surged to avoid trading LAB as team token unlocks are set for later in July 2026.
LAB Trade Blames ‘Large Market Participants’
LAB, the native token of the multi-chain trading platform LAB Trade, suffered a catastrophic collapse this week, plunging from just over $7 to $1.25 on Wednesday—a staggering 80% decline in under 24 hours. This crash followed an equally brutal sell-off on Tuesday, which saw the token slide from nearly $17. In total, LAB wiped out nearly 90% of its value in just 48 hours.
The financial fallout was swift: a market capitalization that exceeded $5 billion on Tuesday morning evaporated to just $390 million by 3:30 p.m. EST on Wednesday. The freefall prompted the LAB Trade team to address the panic on X, where they expressed disappointment and deflected blame toward external heavy-sellers:
“While today’s market activity is disappointing, our product roadmap and long-term focus remain unchanged. We’re seeing significant selling pressure from large market participants. Several independent trading firms also hold substantial LAB positions that are not affiliated with our team. We’re working closely with our liquidity partners and continue to monitor market conditions,” the team said on X.
With this crash, LAB joins a notorious lineup of volatile tokens, such as RAVE, RIVER and SIREN. Each of these projects experienced meteoric rises followed by near-instantaneous erasures, sparking widespread “pump-and-dump” allegations against their respective teams and murky distribution networks.
Crypto Sleuth Slams Centralized Exchanges
Prominent on-chain detective ZachXBT, who previously flagged suspicious insider loans and market-maker coordination back in May, blasted major centralized exchanges ( CEXs) for failing to protect retail investors. Taking to X, ZachXBT criticized the lack of proactive intervention:
“Disappointing to see how no action was taken by Binance, Bitget, and Gate earlier to prevent it. If CEXs cared, profits from the accounts manipulating the price would be distributed to users at a minimum. Unlocks for investors were scheduled to begin later this month, however, multiple late vesting changes occurred in the past.”
ZachXBT reiterated his previous warnings that insiders have effectively controlled the entire circulating supply, allowing market makers to orchestrate extreme price manipulation on major exchanges. His final advice to the community was blunt: avoid trading LAB under any circumstances.
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
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