Plattsburgh officials are considering a 12-month moratorium on new and expanded cryptocurrency mining, artificial intelligence and other high-energy computing facilities while the New York city updates its zoning rules.

Mayor Wendell Hughes introduced Local Law P-2 on Aug. 20. The Common Council held a public hearing on Sept. 3 but has not adopted the proposed crypto mining and AI data center ban.

The measure would cover commercial facilities primarily devoted to cryptocurrency mining, blockchain validation, AI computing, machine learning, cloud computing, digital asset processing, server farms and colocation services.

A covered facility must require High Density Load Service under the city code or have a connected electrical demand of at least 300 kilowatts.

Plattsburgh targets facilities using at least 300 kilowatts

The proposed law would temporarily prevent city departments from issuing land-use approvals for covered high-energy facilities.

Restricted approvals would include building permits, zoning permits, special-use permits, site-plan approvals and certificates of occupancy. The restriction would apply to new facilities, expansions, building conversions and the reopening of facilities after operations ceased.

Electrical consumption alone would not bring an ordinary commercial or industrial business under the proposed law. Computing must represent the facility’s primary purpose or a substantially similar use.

Existing lawful facilities could continue operating during the moratorium. They could also perform routine maintenance, ordinary repairs and equipment replacements that do not materially increase electricity demand or computing capacity.

However, an existing operator could not expand, enlarge or materially intensify its facility when that change requires municipal approval.

Companies facing an “extraordinary hardship” could apply for relief. The Common Council would need to hold a public hearing and issue written findings explaining its decision.

The moratorium would pause approvals during zoning work

Plattsburgh is conducting a wider review of its zoning regulations. City officials said existing rules do not adequately address newer categories of high-energy computing.

The city’s review may examine appropriate zoning districts, electrical thresholds, utility infrastructure, noise, cooling systems, fire protection and emergency response. It may also consider battery storage, decommissioning and financial assurance requirements.

Local Law P-2 describes the measure as a temporary planning action. It says the moratorium is not intended to decide rights involved in existing litigation, contracts, permits or utility arrangements.

The city owns and operates the Plattsburgh Municipal Lighting Department. Officials said unusually large power users can affect utility planning, reserve capacity, capital spending, reliability and municipal finances.

Hughes told local media that some data center proposals can demand about 50 megawatts. Plattsburgh’s total power allocation is approximately 105 MW, meaning one project could potentially consume close to half that amount.

His statement describes a possible project size rather than the documented electricity use of an approved development. The mayor also said existing high-energy facilities were not raising residential electricity rates.

Plattsburgh previously halted Bitcoin mining in 2018

The proposal revives a land-use debate that made Plattsburgh one of the first U.S. cities to halt new commercial cryptocurrency mining.

The Common Council adopted an 18-month moratorium in March 2018 after mining facilities increased demand for the city’s allocation of low-cost hydroelectric power.

When demand exceeded that allocation, Plattsburgh needed to purchase more expensive electricity on the open market. Those costs affected residents’ bills.

Officials later adopted rules requiring special-use permits for new commercial mining operations and expansions. Those regulations also addressed noise, fire safety and heat generated by mining equipment.

The 2026 proposal is broader. It covers AI, cloud computing and large data centers alongside cryptocurrency mining and blockchain validation.

That expansion reflects the growing overlap between mining and AI infrastructure. Both industries seek sites with available grid connections, cooling systems and large amounts of power.

As crypto.news reported, Bitcoin mining companies are converting existing facilities into AI data centers as mining economics weaken and demand for computing capacity rises.

One recent example involved Hyperscale Data, which stopped Bitcoin mining at its Michigan facility while preparing the property for an AI computing customer.

The proposal still requires further review and a vote

Local reporting said the proposed measure must undergo county review before returning to the Common Council. Plattsburgh has not published a final adoption date.

The council’s next regular meeting is scheduled for Sept. 17 at 4:30 p.m., according to the city’s public calendar. However, the currently available information does not confirm that Local Law P-2 will receive a final vote during that meeting.

The council must also comply with New York’s State Environmental Quality Review Act before adopting the law.

If approved, the moratorium would begin when the city files it with the New York secretary of state. It would expire 12 months later unless the council repeals it early or extends it through another local law.

During that period, officials would attempt to develop permanent rules for high-energy computing facilities. The proposal does not require the city to complete every listed study before the moratorium ends.

No publicly traded miner or data center operator has disclosed a material project affected by the proposal. There is therefore no verified market reaction directly connected to the hearing.

The measure’s next confirmed milestone is the council’s Sept. 17 meeting. County review, environmental compliance and a council vote remain necessary before the moratorium can take effect.

Advantages over Tesla?

Humanoid questions

Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027, the companies announced. The acquisition is structured as a Class A common stock purchase, with the final price subject to adjustments tied to Tazapay’s debt, transaction expenses, and cash levels, according to a filing with the US Securities and Exchange Commission.

The transaction will also depend on customary closing conditions and approval from the Monetary Authority of Singapore, Circle said in its Tuesday announcement. Circle previously invested in Tazapay through Circle Ventures, including during the startup’s August 2025 Series B round.

Key takeaways

• Circle is buying Tazapay for $400 million in an all-stock transaction expected to close in 2027.
• The SEC filing says the deal price will be adjusted for Tazapay’s debt, transaction expenses, and cash.
• Tazapay reports more than $25 billion in annualized payment volume and services over 60 banking and fintech partners.
• Circle says stablecoins make up about 60% of Tazapay’s transaction volume, supporting its cross-border routing ambitions.
• Circle says Tazapay customers should not see disruption to services, APIs, pricing, or support.

A $400 million all-stock acquisition aimed at faster global rails

Under the agreed terms, Circle will pay for Tazapay using Class A common stock. The SEC filing also states the purchase price is not fixed: it will be adjusted based on Tazapay’s debt, transaction expenses, and cash at closing.

Circle said the deal would require regulatory and procedural steps before completion, including approvals from the Monetary Authority of Singapore and other standard closing conditions. The company did not indicate any expected earlier-than-2027 timeline in the announcement.

Tazapay’s scale in Asia-Pacific and emerging markets

Tazapay positions itself as an infrastructure provider for cross-border payments, with a focus on local payout rails across many destinations. According to information Circle shared, Tazapay has more than $25 billion in annualized payment volume and serves more than 60 banking and fintech partners.

In August 2025, Tazapay told Newswire that its annualized payment volume was more than $10 billion, suggesting meaningful growth over time as the company expanded its network and partner footprint. The company also said it supports payout rails covering more than 100 markets.

Tracxn data cited in the coverage indicates Tazapay has raised $57.9 million across five funding rounds. Circle’s involvement through Circle Ventures included participation in the August 2025 Series B round, linking the corporate strategy behind the investment to the later acquisition.

Stablecoin-linked volume and the push for 24/7 routing

Stablecoins account for about 60% of Tazapay’s transaction volume, according to Circle. That share matters for Circle’s stated direction: the company is working to integrate stablecoin-based payment rails into mainstream cross-border flows.

Circle said the acquisition will expand its ability to route payments to and from Asia-Pacific and emerging markets. In comments attached to the announcement, Circle’s Irfan Ganchi, senior vice president of payments, described the goal of increasing Circle’s capability to originate and terminate payments globally “near-instant and 24/7” and said the effort is a step toward making USDC the default payment rail for cross-border commerce.

Tazapay has also been described as a design partner for the Circle Payments Network since 2025. Circle said that role, plus Tazapay’s existing infrastructure, is central to how it plans to scale routing capabilities after the acquisition.

What remains unchanged for customers and partners

Circle said Tazapay customers should see no disruption to their services, APIs, pricing, or support. For users and developers building on payment infrastructure, this kind of continuity promise is often as important as the acquisition headline—because it affects integration stability and operational risk during a transition period.

While the companies did not outline a post-close roadmap in the details provided, the focus on uninterrupted customer experience suggests the integration approach will be managed to avoid breaking changes. Circle’s statement also implicitly indicates that the product and developer-facing interfaces are expected to remain stable until closing, which is still set for 2027.

In the market, Circle’s NYSE-traded shares were down more than 2% in Tuesday’s premarket activity, according to Yahoo Finance, at last look. The move reflects how investors often react to larger corporate actions even when timelines extend into the future.

Why the deal matters for cross-border payments

The acquisition highlights a broader competitive theme in stablecoin-enabled finance: infrastructure providers are looking to secure distribution and routing where payment speeds and availability are crucial. By bringing Tazapay’s network—along with its reported stablecoin-heavy flow mix—into its own stack, Circle is effectively positioning itself to compete in the middle layer between banks, fintech apps, and on-chain settlement.

It also matters that the transaction is all-stock and subject to adjustments. For shareholders, the structure adds exposure to equity valuation and closing conditions; for Tazapay, the deal preserves involvement in a larger payments ecosystem rather than a purely cash exit. Circle’s requirement for Monetary Authority of Singapore approval underscores that cross-border payment infrastructure can carry regulatory weight even when stablecoins are a key component of the operating model.

As the deal works through approvals and closing conditions, readers should watch for additional detail on integration plans for the Circle Payments Network and how Circle intends to maintain continuity for Tazapay’s partners. The key uncertainty remains the timeline and the final share-based purchase price mechanics once the debt, expense, and cash adjustments are locked in ahead of the 2027 close.

Singaporean national Malone Lam pleaded guilty to participating in a racketeering conspiracy that US prosecutors say used social engineering and home break-ins to steal and launder more than $245 million in cryptocurrency.

On Tuesday, the US Justice Department said that Lam organized the international operation, identified prospective victims and coordinated other conspirators. The enterprise was formed through connections on online gaming platforms and operated from no later than October 2023 through at least May 2025, according to court documents.

The plea establishes criminal responsibility nearly two years after Lam was charged over the theft of more than 4,100 Bitcoin, worth over $230 at the time, from a Washington, DC resident. 

Lam pleaded guilty before US District Judge Colleen Kollar-Kotelly to one count of participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy. The judge scheduled a status hearing for Dec. 8, but the Justice Department did not announce a sentencing date.

From a 4,100 Bitcoin theft to a RICO case

Initially, prosecutors accused Lam and Jeandiel Serrano of fraudulently obtaining more than 4,100 Bitcoin from a single victim on Aug. 18, 2024. 

In 2024, blockchain investigator ZachXBT identified the victim as a Genesis creditor. The attackers allegedly posed as Google support staff to compromise the victim’s accounts before impersonating Gemini support to persuade the victim to reset two-factor authentication and use screen-sharing software that exposed private keys.

Lam and Serrano were arrested on Sept. 18, 2024, and prosecutors unsealed their indictment the following day. Prosecutors alleged that the pair laundered the proceeds through crypto mixers, exchanges, pass-through wallets and virtual private networks. 

Related: Liquid ‘white hats’ return $270M in Bitcoin as network prepares restart

On May 15, 2025, prosecutors announced a superseding indictment charging 12 additional defendants and expanding the case into an alleged RICO conspiracy involving more than $263 million in crypto thefts. It included a separate $14 million theft in July 2024 and an alleged home break-in targeting a hardware wallet. 

Prosecutors also alleged that Lam continued directing associates from pretrial detention, including arranging delivery of luxury items to his girlfriend. The group’s members allegedly spent stolen funds on private jets, rental properties, watches and at least 28 exotic cars, while nightclub bills reached $500,000 per evening. 

Magazine: Is Bitcoin too volatile to risk your retirement on?

Authorities in Mexico have arrested two suspects accused of killing four people in a home invasion they allegedly carried out in search of a Bitcoin “cold wallet” believed to contain millions of dollars, according to La Jornada and an update from the Attorney General’s Office of the State of Mexico (FGJEM).

The alleged incident centers on Jonathan Meléndez, a keyboardist for the rock band Camilo Séptimo, along with his pregnant wife, their daughter, and a household employee in Atizapán de Zaragoza. Mexico’s FGJEM said the suspects may face lengthy prison terms if convicted, while investigators reportedly claim one suspect gained access to the residence through a personal connection.

Key takeaways

• Mexican prosecutors accuse two men of targeting a Bitcoin cold wallet during a multi-victim homicide in Atizapán de Zaragoza, La Jornada reported.
• Both suspects are scheduled for a hearing on Wednesday, where a judge will decide whether the evidence is sufficient to move forward with criminal proceedings.
• FGJEM said the suspects could face 25 to 70 years in prison per homicide victim if convicted, as reported by La Jornada.
• Officials reportedly alleged at least one suspect had a business relationship with one of the victims and used it to enter the home.
• Broader security reporting continues to show wrench-style attacks—coercing victims to access or hand over crypto—rising across 2026’s first half.

Arrests tied to alleged hunt for a Bitcoin cold wallet

La Jornada, citing an update from FGJEM, said two suspects—identified only as Diego Sebastián and Gerardo, with their surnames withheld—were arrested in connection with the killing of four people.

The case is now moving toward a judicial stage: Diario de México reported that the suspects are scheduled for a court hearing on Wednesday, during which a judge will determine whether there is enough evidence to sustain ongoing criminal proceedings.

FGJEM announced the arrests in an X post on Sept. 2. La Jornada also reported that prosecutors believe the men pursued a cold wallet they thought held millions of dollars in Bitcoin. Mexico’s security secretary, Omar García Harfuch, said in a Sept. 2 X post that one suspect used a relationship with a victim to get into the home.

Allegations around the victims and the alleged method of entry

According to La Jornada, prosecutors accuse the two suspects of killing Jonathan Meléndez, his pregnant wife, his daughter, and an employee during the attack at their residence in Atizapán de Zaragoza. The report also says the family’s golden retriever was killed.

The allegation about access is important for how the case could be framed in court. García Harfuch stated that one suspect was a business associate of one of the victims and allegedly leveraged that connection to enter the home, a claim that can matter for establishing planning, intent, and the suspects’ ability to reach the target location.

Potential sentences and what the next court step determines

La Jornada reported that FGJEM said the suspects could face 25 to 70 years in prison per homicide victim if convicted. While the precise charges and ultimate sentencing outcomes would depend on the court’s determination, the range underscores the gravity of the alleged crimes and the prosecution’s posture.

For investors and crypto users, this case also illustrates how physical coercion can become intertwined with cryptocurrency ownership. Unlike typical theft cases, wrench attacks depend on immediate access—often through forcing victims to unlock wallets, reveal credentials, or hand over control.

Why “wrench attacks” remain a growing crypto risk

The Mexico case aligns with broader security reporting on coercive “wrench attacks,” where criminals use violence or threats to compel victims to hand over cryptocurrency or provide access to wallets.

Blockchain security firm CertiK reported that in the first half of 2026 there were 20 publicly reported home invasions targeting crypto holders, compared with just a single incident in the same period a year earlier. CertiK also put the total number of wrench attacks worldwide at 52 in H1 2026, up 33.3% from 39 during H1 2025.

Chainalysis estimates that criminals stole more than $30 million in crypto through wrench attacks in the first half of 2026.

The overall increase is not limited to 2026. CertiK previously reported that wrench attacks rose in 2025, with 72 verified cases worldwide—up from 39 in the prior year, described as a 75% increase in earlier reporting. The same security reporting noted that France recorded the most attacks in 2025 with 19 confirmed incidents, and that Europe accounted for about 40% of attacks globally that year.

Separate reporting also highlighted the lethal stakes of such crimes: Russian outlet Fontanka reported that in October 2025 attackers killed convicted Russian crypto fraudster Roman Novak and his wife after kidnapping them and demanding access to crypto wallets.

What to watch as the Mexico case moves forward

With a Wednesday hearing scheduled to assess whether the evidence supports continued prosecution, the key developments to monitor are what prosecutors can substantiate about the alleged cold-wallet target and the suspects’ entry into the home—particularly the claimed relationship used to gain access. Separately, the rising global pattern of wrench attacks in 2025 and the first half of 2026 suggests crypto holders should keep security planning focused on physical coercion risks, not only on digital threats.

Strategy, the largest corporate holder of Bitcoin, did not add to its BTC treasury during its most recent reporting window. Instead, it used part of its financing machinery to repurchase shares of its preferred stock vehicle, STRC, signaling a shift toward capital structure management rather than fresh Bitcoin accumulation.

According to a Tuesday filing with the U.S. Securities and Exchange Commission, Strategy repurchased $176.3 million worth of STRC preferred shares—about 1.8 million shares—between Aug. 31 and Sept. 7. Over the same period, Strategy also increased the size of its Digital Credit Securities Repurchase Program to $2 billion. With no new Bitcoin purchases during this stretch, its treasury holdings were listed at 845,050 BTC, acquired for $63.6 billion at an average cost of $75,412 per coin.

Key takeaways

• Strategy paused Bitcoin purchases in the Aug. 31–Sept. 7 window while deploying capital to repurchase preferred stock via STRC.
• The company repurchased $176.3 million of STRC shares and raised its Digital Credit Securities Repurchase Program to $2 billion.
• Strategy’s BTC treasury remains unchanged at 845,050 BTC in the filing, with an average acquisition price of $75,412.
• STRC trading below its $100 par value can reduce Strategy’s ability to raise funds through STRC sales and may pressure dividend economics.
• Other corporate buyers—including Strive and Capital B—continued to add Bitcoin while Strategy stepped back.

Preferred-stock repurchases replace new BTC buying

Strategy’s latest SEC filing centers on STRC. The company reported that it repurchased 1.8 million STRC shares for an aggregate $176.3 million during Aug. 31 to Sept. 7, using the same preferred-stock structure that has become central to its broader Bitcoin strategy.

That pause matters for traders and investors because it highlights the operational choices behind BTC treasury growth. Even for the sector’s most prominent buyer, Bitcoin accumulation is not constant; it can be influenced by financing conditions, payout planning, and the mechanics of how Strategy converts capital markets activity into additional BTC exposure.

The filing also notes an expansion of Strategy’s Digital Credit Securities Repurchase Program to $2 billion. Repurchase programs can be used to manage outstanding securities and expected cash flows, but the practical implication for BTC holders is that not all incoming capital is being directed to new BTC purchases at any given moment.

What the SEC numbers imply for Strategy’s BTC treasury

With no new Bitcoin purchases disclosed for this interval, Strategy’s treasury remains at 845,050 BTC. The company attributes that position to $63.6 billion in total acquisition cost, equating to an average purchase price of $75,412 per BTC.

Investors often watch the timing of these disclosures closely because they help distinguish between periods of direct accumulation and periods dominated by corporate actions. In this case, the company’s reported BTC count stays flat, while capital markets activity is reflected through preferred-stock buybacks.

Strategy’s most recent prior large purchase was reported earlier in the year by Cointelegraph—its first BTC buy since mid-June, consisting of a $370 million acquisition. The contrast between that purchase period and the subsequent pause underscores that Strategy’s approach can move between “buy” and “structure” modes rather than progressing in a single uninterrupted line.

STRC trading below par raises questions about dividend funding

The filing comes alongside market pricing signals for STRC. In premarket activity on Tuesday, STRC was reported trading around $97.70—roughly 2.3% below its intended $100 par value. At the same time, Strategy’s Nasdaq-traded MSTR common stock was reported down more than 3% in Yahoo Finance’s last look.

That matters because STRC is not only a balance-sheet instrument; it’s also a funding tool. The article notes that STRC is one of Strategy’s main vehicles used to finance Bitcoin accumulation. If STRC trades below par, it can limit how much Strategy may raise through future STRC sales, potentially affecting the pace at which it can convert equity-like instruments into additional BTC exposure.

Lower pricing versus par can also complicate dividend expectations. The piece indicates that trading below par may “force the company to further increase its dividend rate,” connecting market pricing directly to payout needs. Strategy’s dividend framework is part of a broader plan: on June 29, the company unveiled a capital framework intended to allow Bitcoin sales to fund dividends, and it increased the annual dividend rate on its STRC preferred stock to 12%—a key detail for readers tracking how Strategy balances BTC exposure against shareholder returns.

While Strategy paused, other treasuries kept buying

Strategy’s decision not to purchase Bitcoin during this window coincides with continued accumulation by other corporate holders.

Strive, described as the fifth-largest corporate Bitcoin treasury, added 1,375 Bitcoin for $109 million, according to CEO Matt Cole’s disclosure on Monday. That purchase reportedly brought Strive’s total holdings to 24,531 BTC, with an average cost of $79,281 per Bitcoin. Ahead of Tuesday’s market open, Strive’s Nasdaq-traded ASST shares were reported down more than 2.5%, following a more than doubling in the prior month.

In France, Capital B also reported a purchase: it disclosed a $25 million Bitcoin acquisition on Monday—its largest in nearly a year—taking its holdings up to 3,521 BTC. The report also says that this move pushed Capital B ahead of H100 Group among publicly traded BTC holders.

These developments matter because corporate Bitcoin competition is increasingly about timing and financing. When Strategy pauses, it can leave space for other treasury operators to gain relative market position and momentum—both in absolute BTC holdings and in investor attention.

For readers, the next signal to watch is whether Strategy returns to BTC purchases immediately after this window, or whether it continues to prioritize repurchases and dividend mechanics through STRC and the expanded $2 billion Digital Credit Securities Repurchase Program.