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Newly-installed Daily Beast boss Joanna Coles is scrambling to hire boldface names like ousted CNN host Brian Stelter as she sharpens the ax to slash more than a third of the staff, The Post has learned.

Coles — who was brought in by media mogul Barry Diller along with Disney bigwig Ben Sherwood last month to resuscitate the floundering news site — reached out to Stelter, the former anchor of CNN’s now-defunct “Reliable Sources,” to run the Beast’s media coverage, sources close to the situation told The Post on Tuesday.

Stelter, who has landed a special correspondent role at Vanity Fair since being dumped by CNN, declined to comment.

Coles’ purported attempt to lure Stelter comes as the outlet confirmed Tuesday that it offered voluntary buyouts to its 37 unionized staffers.

A source close to The Beast said roughly 30% are expected to grab the lifeline before it expires in mid-June.

“You either take the buyout or risk being laid off, as Coles wants to create a newsroom in her own image,” the source said, noting that layoffs will “likely be even worse” than the 30% figure.

Coles and Sherwood hope to reap $1.5 million in cost savings from the union cuts, on top of the “millions” they are saving by reducing their footprint in the Frank Gehry-designed headquarters in Manhattans posh Chelsea neighborhood, another source said.

Management has proposed a buyout package that would give the average Beast employee who has been at the company between two and four years roughly three to four months of pay, the first source noted.

“The voluntary buyouts are part of a larger plan to reduce spending, grow revenue and put The Beast into a healthy and sustainable financial position,” a Beast spokesperson told The Post.

“Everyone in digital media is facing tough choices. These buyouts are especially hard because we know some talented and valued colleagues will decide to leave next month. Throughout this process, we remain fully committed to The Beast’s core mission — great independent journalism that makes a difference.”

The union for The Beast declined to comment.

The insider added that the heads of the non-unionized senior editors are also on the chopping block, including Daily Beast editor in chief Tracy Connor, as The Post previously reported.

A second source said that job cuts will also hit the publication’s business side in the coming months.

The rep would not comment on Connor’s future or that of other section heads.

Coles, 61, was named chief creative and content officer after Diller gave her and Sherwood a minority stake in the tabloid-inspired site.

Since grabbing the reins, the British-born editor has intimidated staffers with pointed questions about who they are and how they want to cover their beats, sparking anxiety over the possibility that they’d be replaced by new reporters with better ideas, sources told The Post.

Employees are walking a tightrope in trying to please Coles — who is swanning around the office, the first source said. Meanwhile, Connor and executive editor Katie Baker have been laying low.

“While Coles remains rather jovial and happy in the office, others feel as if the world is ending as they face the prospect of unemployment,” the source said.

No one has any idea who they should report toAre Katie and Tracy still alive?”

Ruffled by the changes and by Coles’ sometimes cheeky editorial direction — which includes covering lighter fare like Meghan Markle’s jam — a handful of journalists ran for the exits, including Washington DC bureau chief Matt Fuller.

The staff was further demoralized by Coles’ announcement that the company would shrink its presence on the fifth floor of the sail-shaped IAC building, turning the newsroom into a “bullpen.”

Coles, a former Guardian editor and Hearst exec, has hired Martin Pengelly, a longtime journalist at the UK-based publication, who in turn has tried to recruit other staffers, including reporter Hugo Lowell.

Sources said Coles is also oddly obsessed with bringing on Hollywood writers to help punch up the site’s humor and culture coverage.

She tapped Jill Twiss, a former writer for “Last Week Tonight with John Oliver,” who penned a listicle on former New York City mayor Rudy Guiliani, entitled: “7 More Embarrassing Things Rudy’s Done Than Peeing on Zoom,” among other things.

She also hired Nell Scovell, a comedy writer who created the TV series “Sabrina the Teenage Witch” to write listicles, including “5 Rock Solid Theories on What Went Wrong for J.Lo and Ben,” as well as some opinion pieces on former President Donald Trump.

The tension in the office has seemingly filtered down to Connor’s dog, Pearl, who has had “accidents” in the pet-friendly office.

“Tracy’s dog crapped in the office,” a well-placed source said. “It triggered a complaint from a worker in the facilities department and now all dogs need to be on leashes!”

There soon may be an edict issued that bans dogs from the office, the source added.

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Related: Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan unveils tax incentives to attract investors

Per the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.

To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.

Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.

Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.

The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.

Related: Pakistan proposes compliance-based crypto regulatory framework — Report

Pakistan creates Digital Asset Authority

On May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.

The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: Chainalysis

Data from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.

Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

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Crypto investor charged with kidnapping, torturing an Italian for passwords

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Crypto investor charged with kidnapping, torturing an Italian for passwords

Crypto investor charged with kidnapping, torturing an Italian for passwords

A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets.

John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month.

According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by Woeltz and an accomplice.

The attackers are said to have stolen the man’s passport and electronic devices before demanding the password to his Bitcoin (BTC) wallet. When he refused, the suspects allegedly subjected him to prolonged physical abuse.

Crypto investor charged with kidnapping, torturing an Italian for passwords
Source: Mario Nawfal

Related: Violent crypto robberies on the rise: Six attacks that targeted investors

Crypto victim beaten, electroshocked

The victim described being beaten, shocked with electricity, assaulted with a firearm and even dangled from the upper floors of the five-story building.

He also told police that Woeltz used a saw to cut his leg and forced him to smoke crack cocaine. Threats were also reportedly made against his family.

Photographic evidence found inside the property, including Polaroids, appears to support claims of sustained abuse. The victim managed to escape on Friday and alert authorities, leading to Woeltz’s arrest.

Woeltz was charged with four felony counts, including kidnapping for ransom, and entered a plea of not guilty. Judge Eric Schumacher ordered him to be held without bail. He is expected back in court on May 28.

A 24-year-old woman was also taken into custody on Friday in connection with the incident. However, she was seen walking freely in New York the next day, and no charges against her were found in the court’s online database.

Authorities have yet to clarify the relationship between the suspect and the victim or whether any cryptocurrency was ultimately stolen.

Related: Crypto crime goes industrial as gangs launch coins, launder billions — UN

Crypto executives turn to bodyguards

Executives and investors in the crypto industry are increasingly seeking personal security services as kidnapping and ransom cases surge, especially in France.

On May 18, Amsterdam-based private firm Infinite Risks International reported a rise in requests for bodyguards and long-term protection contracts from high-profile figures in the space.

French authorities have responded by introducing enhanced protections for crypto entrepreneurs and their families, including security briefings and priority access to police assistance.

This comes amid a recent surge in kidnappings and ransom attempts. David Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.

In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.

Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

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Gail’s backer plots rare move with bid for steak chain Flat Iron

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Gail's backer plots rare move with bid for steak chain Flat Iron

A backer of Gail’s bakeries is in advanced talks to acquire Flat Iron, one of Britain’s fastest-growing steak restaurant chains.

Sky News has learnt that McWin Capital Partners, which specialises in investments across the “food ecosystem”, has teamed up with TriSpan, another private equity investor, to buy a large stake in Flat Iron.

Restaurant industry sources said McWin would probably take the largest economic interest in Flat Iron if the deal completes.

They added that the two buyers were in exclusive discussions, with a deal possible in approximately a month’s time.

The valuation attached to Flat Iron was unclear on Sunday.

Flat Iron launched in 2012 in London’s Shoreditch and now has roughly 20 sites open.

The chain is solidly profitable, with its latest accounts showing underlying profits of £5.7m in the year to the end of August.

It already has private equity backing in the form of Piper, a leading investor in consumer brands, which injected £10m into the business in 2017.

Flat Iron was founded by Charlie Carroll, who retains an interest in it, but the company is now run by former Byron restaurant boss Tom Byng.

Houlihan Lokey, the investment bank, has been advising Flat Iron on the process.

McWin has reportedly been in talks to take full control of Gail’s while TriSpan’s portfolio has included restaurant operators such as the Vietnamese chain Pho and Rosa’s, a Thai food chain.

A spokesman for McWin declined to comment.

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