An Arizona couple is reportedly out $20,000 after a Chase Bank employee accidentally unfroze funds taken by a scammer.

In March, the couple received a text asking if they authorized a $399 Zelle payment to “Susan Smith,” according to a new report from 12 News.

They replied “No” and were given a number to call. After calling the number, someone on the other line who was claiming to be a bank employee said the couple’s account had been flagged for fraud. The scammer on the phone also told the couple that it looked like it was  an “inside job.”

Following instructions, the couple went to a Chase Bank and withdrew $20,000 and then opened a new account through Apple Wallet, depositing the money there.

The scammer then stole the money, but employees at Chase Bank managed to freeze the funds later that day. A few days later, however, someone at the bank unfroze the account, allowing the con artist to make off with the money.

Chase has contacted the couple and told them that their case is still open. Peoria police tell 12 News that they’ve identified a suspect in Florida.

A similar incident in Arizona occurred last month when a scammer reportedly drained $27,000 in life savings from a man in Arizona by pretending to be his bank representative.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Editor’s take: The University of Arizona could become the birthplace of the world’s first petahertz-speed transistor. If successful, this research work could mark the dawn of a new era in computing, where the speed of light, rather than electricity, sets the pace for innovation.

A team of scientists has unveiled a breakthrough that could one day propel computers to operate at speeds millions of times faster than today’s most advanced processors.

The discovery, led by researchers at the University of Arizona and their international collaborators, centers on harnessing ultrafast pulses of light to control the movement of electrons in graphene – a material just one atom thick.

The research, recently published in Nature Communications, demonstrates that electrons can be made to bypass barriers almost instantaneously by firing laser pulses lasting less than a trillionth of a second at graphene. This phenomenon, known as quantum tunneling, has long intrigued physicists, but the team’s ability to observe and manipulate it in real time marks a significant milestone.

Mohammed Hassan, an associate professor of physics and optical sciences at the University of Arizona, explained that this advance could usher in processing speeds in the petahertz range – over a thousand times faster than the chips powering today’s computers. Such a leap, he said, would transform the landscape of computing, enabling dramatic progress in fields ranging from artificial intelligence and space research to chemistry and health care.

Hassan, who previously led the development of the world’s fastest electron microscope, worked alongside colleagues from the University of Arizona, the California Institute of Technology’s Jet Propulsion Laboratory, and Ludwig Maximilian University of Munich. Their initial focus was studying how graphene conducts electricity when exposed to laser light. Typically, the symmetrical structure of graphene causes the currents generated on either side to cancel each other out, resulting in no net current.

However, the team made a surprising discovery after modifying the graphene samples. They observed that a single electron could “tunnel” through the material – and that this fleeting event could be captured in real time. This unexpected result prompted further investigation and ultimately led to the creation of what Hassan calls “the world’s fastest petahertz quantum transistor.”

To achieve this, the scientists used a commercially available graphene phototransistor, enhanced with a special silicon layer. They exposed it to a laser switching on and off at an astonishing rate of 638 attoseconds – each attosecond being one quintillionth of a second. The result was a transistor capable of operating at petahertz speeds, a feat previously considered far beyond reach.

Unlike many scientific breakthroughs that require highly controlled laboratory environments, this new transistor functioned in everyday, ambient conditions. This opens the door for the technology to be adapted for commercial use and integrated into future generations of electronic devices.

Hassan and his team are now working with Tech Launch Arizona to patent and commercialize their invention. Their next goal is to develop a version of the transistor that operates using standard, commercially available lasers, making the technology more accessible to industry partners.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Arizona Governor Katie Hobbs has vetoed two cryptocurrency-related bills passed by the state legislature, citing concerns over the financial risks involved in integrating digital assets with state operations.

The decision reflects the governor’s cautious approach to digital assets despite growing legislative interest in crypto initiatives. Both measures would have expanded the role of cryptocurrency within state financial mechanisms, but were ultimately blocked due to what Hobbs described as “too much risk.”

Detailing The Rejected Crypto Bills

The first bill, Senate Bill 1373, would have created a strategic reserve fund from seized cryptocurrency assets. While this fund would not have directly involved taxpayer money, it raised concerns for Hobbs about connecting state financial infrastructure to a volatile asset class.

In her veto letter, the governor acknowledged the use of crypto in state processes but emphasized that “current volatility” in the digital asset market makes it unsuitable for reserve fund planning.

Earlier this legislative session, Hobbs did sign House Bill 2749 into law, which allows for a reserve fund to be created from unclaimed crypto assets, but with clear restrictions around legislative oversight.

Gov. Hobbs signs HB 2749—Arizona’s Bitcoin & Digital Assets Reserve Fund, funded only by seized crypto. Signals comfort with state-held BTC and could lift SB 1373’s chances. State-level $BTC reserve momentum rising. #Bitcoin #Arizona #StrategicReserves https://t.co/zOGiPW57Vq

— SSI (SoSoValue Indexes) (@SoSoValue) May 8, 2025

In addition to SB 1373, Governor Hobbs also rejected Senate Bill 1024, which would have permitted Arizona state agencies to accept digital currency as a form of payment for fines and civil penalties.

Her veto cited the risks of enabling government institutions to operate directly within the crypto ecosystem, a view that has seen some bipartisan acknowledgment among lawmakers.

The rejection of SB 1024 follows a similar veto earlier in the month of SB 1025, which would have authorized Arizona’s state treasurer and retirement systems to allocate up to 10% of their portfolios in digital currencies.

Consumer Protection Measures Win Approval Amid Regulatory Balancing Act

While Governor Hobbs has blocked broader adoption efforts, she has shown support for crypto regulation intended to protect consumers. Last week, she signed House Bill 2387 into law, which imposes a range of requirements on cryptocurrency kiosk operators.

Under HB 2387, kiosks must display consumer warnings about fraud, collect customer risk acknowledgment statements, provide transaction receipts, and enforce a $2,000 daily transaction cap for new users.

Additionally, kiosk operators must maintain 24/7 customer service to assist users and mitigate misuse, an element designed to safeguard vulnerable populations, especially seniors.

The contrasting decisions highlight a measured regulatory stance by the Arizona governor: supportive of protective oversight but hesitant to embrace broader state-level crypto adoption. Arizona’s approach mirrors trends in other US states grappling with the balance between innovation and public sector risk exposure.

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Bitcoin has made a dramatic return to six-figure territory and reclaimed its $100k milestone for the first time since January 2025. On 8 May 2025, BTC surged 4.2% from an intraday low of $95,967. As optimism returns to the crypto landscape, Bitcoin’s recent push towards $100k can be credited to bullish macroeconomic signals, including a landmark US-UK trade agreement announced by US President Donald Trump. Importantly, US state Arizona approved a landmark crypto reserve law for state-managed Bitcoin fund.

Arizona officially enacted House Bill 2749 on Thursday, 8 May 2025. While Arizona is now committed to building a Bitcoin reserve, Texas is expected to follow closely.

Man isn’t winning sweet—-so many nay-sayers, just days ago, whining, criticizing like little bitches and days later, we have one clean decision by NH, then reversal from Arizona Gov, next is Texas who hasn’t done anything Big since Big Oil and Gas!

Is Texas coming into the… https://t.co/O4xoPwydAv

— Gary Cardone (@GaryCardone) May 8, 2025

Furthermore, despite pressure for cuts, the Federal Reserve held interest rates steady. This gave a fair boost to Bitcoin, which has been showing strength for weeks now. Although the Fed didn’t cut rates, economists expect a rate drop in June 2025. Meanwhile Trump urged Jerome Powell and the FOMC to lower rates, citing cooling inflation and reduced need for high borrowing costs.

Notably, Bitcoin first breached the $100k mark in December of last year, alongside Trump’s victory. BTC went all the way up to $109k before its trajectory was interrupted by factors including Trump’s tariffs and the global trade war. 

Beyond immediate events, ongoing progress in the US and global crypto regulation and the emergence of strategic Bitcoin reserve initiatives are seen as supportive of long-term growth. Is $110k next for BTC?

“$BTC will NEVER hit $100K again” — some guy in 2022
Meanwhile in 2025:

When do YOU think Bitcoin breaks $100K again?
Drop your guess + reasoning
Let’s see who’s got the alpha#BTC #Crypto #Endless #meme pic.twitter.com/7sTATFaVfK

— Endless (@EndlessProtocol) May 8, 2025

However, while Bitcoin enjoys renewed dominance, the broader altcoin market has struggled to keep pace.

DISCOVER: Top 20 Crypto to Buy in May 2025

Trump’s Trade Deal With UK: Major Catalyst For Bitcoin?

On 8 May 2025, a Reuters report confirmed the US-UK trade deal, where Trump and the British Prime Minister Keir Starmer announced a “breakthrough deal” on trade.

Cutting down the infamous Trump’s tariffs, the trade deal includes a 10% tariff on goods imported from the UK while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods.

“It opens up a tremendous market for us,” Trump said. Meanwhile, commenting on the trade deal Starmer said, “This is a really fantastic, historic day.”

Bitcoin Breaches $100K As US-UK Sign Trade Deal And Arizona Approves Crypto Reserve Law

Plus: Warren Buffett hands over the keys

GM. Consider this your daily dose of market fiber: fresh, packed with facts, and low in nonsense.

Arizona Governor Katie Hobbs is NOT a degen: confirmed.

News drops: Warren Buffett stepping down, Donald Trump dodging questions about TRUMP + more

Market flavor today

Investor greed has chilled out a bit – after riding high all weekend, the Fear and Greed Index has dropped back to Neutral today.

Why the mood swing? Well, traders are preparing for what could be a bumpy week.

The big focus is Wednesday’s FOMC meeting, where we’ll find out if the Fed plans to cut interest rates.

That decision could have a big impact on prices, which explains why crypto and stock markets tend to dip ahead of FOMC meetings. Traders don’t want to risk holding too much in case the Fed announces something unexpected.

This time seems no different. And analyst Michaël van de Poppe pointed out that if the usual pre-FOMC drop happens, Bitcoin might slide into the $91.5K – $92.5K range.

And will the Fed cut rates? Very unlikely.

Even though Donald Trump’s been pressuring Fed chair Jerome Powell to do it, the economic data just isn’t backing him up.

• Quarterly inflation increased to 3.6%, way above the Fed’s 2% target – big red flag;

• The labor market is still going strong: job growth beat expectations, and the unemployment rate held steady at a very low 4.2%.

Solid hiring and low unemployment tell the Fed that the economy can handle higher rates for a while – especially since inflation’s still too high.

Oh, and also: Coinbase drops its earnings report on Thursday.

Since Coinbase is the biggest publicly traded crypto exchange, its earnings give insights into how much trading and institutional action are happening in crypto.

Earnings week usually brings extra volatility as traders try to guess whether the report will show a booming market or signs of a slowdown.

So yeah, prep yo’ self – it’s gonna be an interesting week.

Sip of savings

Got any plans for this month? You do now.

Consensus 2025 is taking over Toronto from May 14 to 16, and pretty much the entire crypto world will be there.

If you’re thinking about going, we’ve got you: use code BITDEGREE for 20% off your tickets.

Grab ’em now!

Memecoin harvest

Trading memecoins: 10% skill, 90% that dawg in you.

Data as of 06:30 AM EST.

Check out these memecoins and plenty more here.

You know that feeling when you think of a joke, but then overthink it and stay quiet… only for someone else to say it and everyone laughs? (Someone even sheds a tear.)

Or when you’ve got an idea in a work meeting, but don’t say anything so you don’t sound dumb – then a coworker says it, and the boss acts like they’ve discovered fire?

Those “so close, but nope” moments. The kind that you randomly remember in the shower at some point and then just stand there like:

Arizona’s governor might be having one of those right now.

The state was this close to becoming the first in the US to hold Bitcoin in its reserves.

The Arizona Strategic Bitcoin Reserve Act would’ve allowed the State Treasurer and the state’s retirement systems to invest up to 10% of the public funds they manage into BTC.

But Governor Katie Hobbs vetoed it. Her take:

“The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currencу.”

Uhh… sure. Imma let you have this one, Julian Fahrer:

Boom. Roasted.

BUT! Arizona’s Bitcoin dreams aren’t totally dead yet – there’s still the Senate Bill 1373. It proposes creating a Digital Assets Strategic Reserve Fund with crypto the state has already seized, plus any extra funds lawmakers decide to throw in.

Basically, no new crypto buys – just holding and managing what they already have. Still, it’s something.

But that bill hasn’t made it to a final vote yet.

So while Arizona probably won’t be the first to build a BTC reserve anymore, it’s still in the race – alongside 19 other states.

For a different perspective, tho’, BitMEX co-founder Arthur Hayes thinks a BTC reserve isn’t that good of an idea.

(He was talking about the US making a national reserve, but his argument fits for states too.)

His main point: no politician who wants to stay in office is gonna say, “Let’s print taxpayer money to buy Bitcoin.” Especially when the public stereotype of Bitcoiners is guys blowing cash at nightclubs. Not exactly vote-winning optics.

Instead, Hayes thinks if governments do want Bitcoin, they’ll take the “China strategy”: use excess electricity to mine it, without actually buying Bitcoin on the open market.

In other words, he doesn’t think politicians are going to buy Bitcoin outright the way crypto fans hope.

But we’ll see.

News drops

Investing legend Warren Buffett is stepping down as CEO of Berkshire Hathaway. Taking his place is Greg Abel, the company’s vice chairman of non-insurance operations.

Trump dodged the question when asked if he made money from the TRUMP memecoin. He said, “I haven’t even looked. I’ll tell you what, if I own stock in something, I do a good job, and the stock market goes up, I guess I’m profiting.”

Ben McKenzie, the actor from The OC, is making his first movie as a director – and it’s about exposing crypto. Everyone Is Lying To You For Money comes out in June and shows clips of FTX’s SBF and Celsius’s Alex Mashinsky.

French police carried out a raid to rescue a man kidnapped in Paris. The kidnappers were trying to force his crypto-millionaire son to pay ransom.

Tether’s cooking up something new – Tether AI, a tool that lets people build and run AI agents using blockchain technology. It will be open-source and support payments with USDT and Bitcoin.

Changelly is throwing a 10-year anniversary party with a $100K+ prize pool! Open the Changelly app, sign up or log in, get a free spin (plus another if you make a transaction), and see what you won.*

*Sponsored

Juicy memes

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Arizona’s legislature has passed a pioneering measure that could allow the state to invest billions of dollars in Bitcoin (BTC) and other cryptocurrencies. The legislation, known as S.B. 1025, permits state public funds to allocate up to 10% of their managed assets into digital assets, positioning Arizona as a leader in the integration of digital assets into public finance.

First State To Invest In Bitcoin

According to Bloomberg, the newly passed bill defines eligible investments as any “digital representation of value” not based on the US dollar or foreign currencies. This broad definition is designed to encompass a variety of digital assets, including Bitcoin and non-fungible tokens (NFTs). 

Additionally, the legislation establishes a Digital Assets Strategic Reserve Fund, intended to hold seized cryptocurrency assets and future appropriations. The fund will mandate on-chain auditability and standardized risk controls, ensuring transparency and security in managing these investments.

Arizona’s legislative action reflects a growing trend among US states, including Texas, Florida, and New Hampshire, which are exploring Bitcoin-backed reserve strategies. These states aim to attract blockchain innovation and diversify their public asset portfolios. 

If signed into law, Arizona would become the first state in the nation to formally hold Bitcoin in its treasury, setting a significant national precedent for the integration of cryptocurrencies into public finance frameworks.

Following the legislative vote, Bitcoin was trading near $95,000, having recently made a 25% recovery from its monthly lows earlier in April. This renewed interest among institutional investors, coupled with Arizona’s move to recognize Bitcoin as a sovereign reserve asset, is contributing to positive market momentum.

Governor Hobbs’ Decision Loom

Arizona’s total public assets under management (AuM) exceed $31.4 billion as of 2025. Under Senate Bill 1025, the state could allocate up to $3.14 billion to invest in digital assets, including Bitcoin and NFTs. 

This allocation would make Arizona the second-largest institutional holder of Bitcoin among US public entities, surpassing notable corporate holders like Tesla and Marathon Digital, the latter being the largest Bitcoin mining firm.

The legislation emphasizes that all investments in digital assets must comply with standard fiduciary risk management protocols. This requirement aims to protect public funds from the inherent volatility and custodial risks associated with cryptocurrency investments. 

By mandating high liquidity and high-security instruments, Arizona is prioritizing the safety of its public assets while venturing into the digital currency space.

Despite the bill’s passage, Arizona Governor Katie Hobbs has not yet indicated her position on the Bitcoin legislation. Following a recent bipartisan agreement on disability funding disputes, she eased a previous veto threat. 

However, her signature on the bill will be crucial; it would immediately authorize the allocation process for investing in digital assets. Conversely, a veto could halt the bill and pause all associated budgetary allocations.

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.