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Adam Levitin on the GENIUS Act: “[I]n regard to cash deposits, the stablecoin investors will have priority over the claims of ma-and-pa for their bank deposits (and thus over the FDIC's subrogation claim when it pays ma-and-pa). Yes, you read that correctly: Congress is about to put the claims of stablecoin investors ahead of ma and pa's bank deposits. That's just stunning. Now ma-and-pa's deposits are FDIC insured, so they'll be alright, but it means the FDIC's Deposit Insurance Fund is footing the bill. In other words, the GENIUS Act is subsidizing stablecoin issuance on the back of bank deposits. By subordinating the FDIC's subrogation claim in a bank insolvency to the claims of stablecoin investors, the GENIUS Act is effectively letting FDIC insurance leak out to cover uninsured stablecoins, without any insurance premiums paid.”
Newsletter: Coinbase’s substantial data breach coincides with a convenient terms of service update, while the GENIUS Act stablecoin bill regains momentum in the Senate
With 16 Democrats voting in favor, the GENIUS Act stablecoin bill has passed cloture in the Senate.
Alsobrooks (MD), Blunt Rochester (DE), Booker (NJ), Cortez Masto (NV), Fetterman (PA), Gallego (AZ), Gillibrand (NY), Hassan (NH), Heinrich (NM), Lujan (NM), Ossoff (GA), Padilla (CA), Rosen (NV), Schiff (CA), Slotkin (MI), Warner (VA).
#crypto #cryptocurrency #USpolitics #USpol
Two days before Trump announced dramatic plans for “reciprocal” tariffs on foreign imports, Transportation Secretary Sean Duffy sold stock in almost three dozen companies, according to records reviewed by ProPublica.
propublica.org/article/sean-du…
#News #Tariffs #Trump #SeanDuffy #Stocks #Trade #Economy #Business #USPolitics
Sean Duffy Sold Stocks Days Before Trump Announced a Plan for Reciprocal Tariffs
Duffy is the second member of Trump’s cabinet who sold securities shortly before the president’s tariff announcements sent markets plunging. A spokesperson for Duffy said an account manager made the trades and that Duffy had no input on the timing.ProPublica
![Asawin Suebsaeng Eollow
@swin24.bsky.social
@ Bluesky Elder
| am publishing soon something we were
scooped on
@theonion.com beat us to it
| am not joking
May 16, 2025 at 11:32 AM 23 Everybody can reply
[7 The Onion © Asawin Suebsaeng
Githeaniongom @swin24.bsky.social
CEE ERES @ Bluesky Elder
Sean Combs Asks For Quick Trial So He Can . . a
Get To Part Where Trump Pardons Him www.rollingstone.com/music/music-...
MR WILLIAM'S : A
" LABORHOOD a b-® v
May 13, 2025 at 3:17 PM May 16, 2025 at 1:13 PM
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Sean Combs Asks For Quick Trial So He Can Get To Sean Combs Allies Are Actively Working for a
Part Where Trump Pardons Him Trump Pardon
NEW YORK—Insisting that they were all busy people with Longtime Diddy associates are already laying the
things to do, Sean “Diddy” Combs reportedly asked a U.S... groundwork for a pardon by cozying up to Trump officials.
theonion.com www.rollingstone.com
May 13, 2025 at 3:17 PM 23 Everybody can reply May 16, 2025 at 1:13PM](https://friendica.hellquist.eu/photo/preview/640/4921476 "Asawin Suebsaeng Eollow
@swin24.bsky.social
@ Bluesky Elder
| am publishing soon something we were
scooped on
@theonion.com beat us to it
| am not joking
May 16, 2025 at 11:32 AM 23 Everybody can reply
[7 The Onion © Asawin Suebsaeng
Githeaniongom @swin24.bsky.social
CEE ERES @ Bluesky Elder
Sean Combs Asks For Quick Trial So He Can . . a
Get To Part Where Trump Pardons Him www.rollingstone.com/music/music-...
MR WILLIAM'S : A
\" LABORHOOD a b-® v
May 13, 2025 at 3:17 PM May 16, 2025 at 1:13 PM
Na =
] = A ye
Sean Combs Asks For Quick Trial So He Can Get To Sean Combs Allies Are Actively Working for a
Part Where Trump Pardons Him Trump Pardon
NEW YORK—Insisting that they were all busy people with Longtime Diddy associates are already laying the
things to do, Sean “Diddy” Combs reportedly asked a U.S... groundwork for a pardon by cozying up to Trump officials.
theonion.com www.rollingstone.com
May 13, 2025 at 3:17 PM 23 Everybody can reply May 16, 2025 at 1:13PM")
After the talks in Istanbul, Zelensky got into the geopolitical cauldron — Rogov — EADaily, May 17th, 2025 —
One of the results of the renewed negotiation process between Russia and Ukraine in Istanbul was the fact that the head of the Kiev regime, Vladimir Zelensky,EUROPE SAYS
Congress is moving key legislation via the budget process, including possible Medicaid cuts and an extension of the 2017 tax law. But much of the media frames it as “Trump’s agenda” or his “big, beautiful bill.”
A new analysis explores how Republicans and Democrats have been handing over power to the executive branch:
theconversation.com/congress-b…
#USPolitics
Congress began losing power decades ago − and now it’s giving away what remains to Trump
Congress − the first branch of government listed in the Constitution − has been relegated to second-class status.The Conversation
Awww widdle Mikey looks oh so sad… I guess I would too if I was such a weak posturing asshole.
Meanwhile the MAGA shitheels who opposed it did so because IT WASN'T FUCKING CRUEL ENOUGH. 🖕🏻🖕🏻🖕🏻
nbcnews.com/politics/congress/…
Conservatives block Trump agenda bill from advancing in major setback for GOP leaders
WASHINGTON — The GOP-led House Budget Committee voted to reject a sweeping package for President Donald Trump's agenda on Friday, dealing an embarrassing setback to Speaker Mike Johnson, R-La., and Republican leaders.Scott Wong (NBC News)
Trump & House Republicans are proposing deep budget cuts to programs that keep kids fed, housed and safe.
Child welfare researchers write “We are alarmed…. The proposed budget cuts could cost all taxpayers down the line because child abuse and neglect is costly for not only the people who are mistreated as kids but also for society.”
theconversation.com/us-safety-…
#USPolitics
US safety net helps protect children from abuse and neglect, and some of those programs are threatened by proposed budget cuts
Society as a whole can benefit from programs that protect kids because the harms experienced in childhood can last a lifetime.The Conversation
Can one judge block a president’s policy for the whole country?
The Supreme Court just heard arguments over “nationwide injunctions” – temporary blocks that stop executive orders in their tracks.
Big implications for immigration, DOGE & presidential power in general.
A constitutional law scholar explains:
theconversation.com/birthright…
Birthright citizenship case at Supreme Court reveals deeper questions about judicial authority to halt unlawful policies
Arguments before the US Supreme Court on birthright citizenship – awarded to those born in the US – actually focused on the power of federal judges to impose nationwide injunctions.The Conversation
Eloon can't let go of polluting & tainting the air.🤢
"...
At a 2013 event, Musk’s brother and Zip2 co-founder, Kimbal Musk, recalled that the brothers “were illegal immigrants.” Elon Musk responded on stage that it was “more of a gray area.”
Derek Proudian, a former Zip2 board member, told The Washington Post that their immigration status at the time “was not what it should be for them to be legally employed running a company in the U.S.”
..."
stanforddaily.com/2024/11/11/e…
"While overstaying a student visa is somewhat common and officials have at times turned a blind eye to it, it remains illegal."
theguardian.com/technology/202…
#RuleOfLaw #ExpelMusk #IllegalImmigration #ImmigrationLaws #DeportMusk #Subversion #ObstructionOfUSGovernment #Law #Justice #Freedom #Democracy #USPol #USPolitics
Elon Musk worked in US illegally in 1995 after quitting school – report
Washington Post contrasts the episode with the South African multibillionaire’s anti-immigration viewsEdward Helmore (The Guardian)
U.S. Attorney General Pam Bondi sold between $1 million and $5 million worth of Trump Media stock the same day Trump unveiled new tariffs that caused the stock market to plummet, according to records obtained by ProPublica.
propublica.org/article/pam-bon…
#News #Trump #StockMarket #Stocks #Tariffs #Economy #USPolitics
Pam Bondi Sold Trump Media Stock the Day Trump Announced Tariffs
Disclosure forms show that Bondi sold between $1 million and $5 million worth of shares on April 2. That day, after the market closed, Trump’s “Liberation Day” press conference sent the market tumbling.ProPublica
As if soaring temperatures weren’t bad enough, the Trump administration wants to cut LIHEAP funding that helps millions of Americans pay for air conditioning and other utilities.
theconversation.com/trump-guts…
#USPolitics
Trump moves to gut low-income energy assistance as summer heat descends and electricity prices rise
The problem of high energy prices and rising numbers of people unable to afford them isn’t lost on the Trump administration.The Conversation
The art of spoiling Trump's deal: Sit back and wait
It doesn't even take that long. Just look at how quickly he caved on his China tariffs
salon.com/2025/05/14/the-art-o…
#news #politics #uspol #uspolitics #GOPCult #trump #ethics #corruption #maga
Trump’s executive order aims to end birthright citizenship for kids born in the U.S. to undocumented parents has been tied up by 3 federal courts that have blocked it.
The US Supreme Court hears the case Thursday, although the justices will mainly be focussed on the technicalities of the orders blocking its implementation. If they lift those orders, thousands will be born stateless.
theconversation.com/trumps-bid…
#SCOTUS #USPolitics #Birthrightcitizenship #Immigration
Trump’s bid to end birthright citizenship heads to the Supreme Court
Three federal judges have struck down Trump’s executive order on birthright citizenship since he signed it in January 2025. Now, the Supreme Court will hear arguments in the case.The Conversation
Idiot Republicans: #China was limiting the import of metals and magnets to the US, and that was ruinous to the country. Therefore #Trump must... limit the import of metals and magnets.
Today's mainstream conservatives are dumber than I ever remember them being, as if after COVID they rejected any deep thought or professional analysis as elitist.
#Trump just defunded a program to provide high-speed #internet to rural areas, which are predominantly red. Why? It was called the Digital Equity Act.
newrepublic.com/article/195097…
#BrainlessKeywordSearching #DEI #USPol #USPolitics
Angry Trump Kills “Woke” Program—and Accidentally Screws MAGA Voters
It’s called the Digital Equity Act. That word—“equity”—caught the White House’s attention. So now Trump is moving to nix funding—but it could cut off millions destined for red America.The New Republic
With so called center lefts like Keir Starmer in the UK doing an Enoch Powell on migrants, and Newsom outlawing homeless - the GOP can happily stay fascist and watch the opposition come to them
Where's the empathy, where's the fight?
#UKpol #USpol #USpolitics
Habeas corpus: A thousand-year-old legal principle for defending rights that’s getting a workout under the Trump administration
Habeas corpus – a Latin phrase meaning ‘you shall have the body’ – protects any person, whether citizen or not, from being illegally confined. It’s a crucial element of US law.The Conversation
A shift in a long-standing norm:
Former presidents traditionally avoid criticizing their successors, but Bill Clinton, Barack Obama, and Joe Biden have all publicly called out Donald Trump recently, and Trump has escalated attacks on other presidents.
theconversation.com/trump-spea…
@histodons #Histodons #USPolitics
Trump speaking poorly of other presidents is uncommon, but not unheard of, in American presidential history
Americans often expect former presidents to not talk about current ones. But it’s not really a surprise that several are criticizing Donald Trump.The Conversation
The Republican party has shifted ideologies and kept its base. It went from free trade to tariffs, fiscal responsibility to huge tax cuts, Cold Warriors to isolationists. Democrats, meanwhile, have lost their ideological anchor: liberalism.
More from a historian whose new book “Why Everyone Hates White Liberals (Including White Liberals): A History” is out this month ⬇️
theconversation.com/fdr-united…
@histodons #Histodons #USPolitics #Liberal
FDR united Democrats under the banner of ‘liberalism’ − but today’s Democratic Party has nothing to put on its hat
Republicans have a leader, Donald Trump; a banner, MAGA; and a song, ‘God Bless the USA.’ Democrats have nothing like this.The Conversation
Democratic Lawmakers Blast Trump Administration’s VA Cuts After ProPublica Investigation
—
The lawmakers also accused Veterans Affairs Secretary Doug Collins of stonewalling their efforts to learn more about agency cuts and their effects. “There are real-life dangerous impacts for veterans,” Rep. Chris Deluzio said.
propublica.org/article/veteran…
#News #Veterans #Healthcare #Health #Democrats #Congress #Government #USPolitics
Tensions between India and Pakistan are surging.
India’s missile strike inside Pakistan killed 31 people, claiming retaliation for a Kashmir terror attack—without offering evidence.
Islamabad has vowed to respond “at a time, place, and manner of its choosing.”
With both nations nuclear-armed, the risk of escalation is real.
theconversation.com/missile-st…
#USPolitics #IndiaPakistan #pakistan #india #news
Missile strikes and drone attacks heighten South Asian crisis - 8 questions answered over the role of Pakistan’s military in responding
A terror attack in Indian-administered Kashmir in late April has seen tensions rise on the subcontinent to their highest level in decades.The Conversation
This is only the latest in a series of crypto ventures enriching Trump while creating unprecedented conflicts of interest, as the president simultaneously shapes crypto policy and intervenes in regulatory actions. Even some of his most ardent supporters are getting uncomfortable.
#crypto #cryptocurrency #USpolitics #USpol
![The $TRUMP dinner represents the latest in a series of crypto ventures that have enriched Trump and his family while creating unprecedented conflicts of interest, as the president simultaneously shapes crypto policy and intervenes in regulatory actions. Even prior to its transformation into a dinner invitation, ethics watchdogs and legislators alike sounded the alarm over the memecoin as “the single worst conflict of interest in the modern history of the presidency”.8 Now, even some of Trump’s biggest allies are getting uncomfortable, with Republican Cynthia Lummis admitting the dinner “gives [her] pause”.9 Democrat Jon Ossoff, speaking at a town hall, commented that “granting audiences to people who buy his memecoin” is “no question ... an impeachable offense.”](https://friendica.hellquist.eu/photo/preview/640/4897915 "The $TRUMP dinner represents the latest in a series of crypto ventures that have enriched Trump and his family while creating unprecedented conflicts of interest, as the president simultaneously shapes crypto policy and intervenes in regulatory actions. Even prior to its transformation into a dinner invitation, ethics watchdogs and legislators alike sounded the alarm over the memecoin as “the single worst conflict of interest in the modern history of the presidency”.8 Now, even some of Trump’s biggest allies are getting uncomfortable, with Republican Cynthia Lummis admitting the dinner “gives [her] pause”.9 Democrat Jon Ossoff, speaking at a town hall, commented that “granting audiences to people who buy his memecoin” is “no question ... an impeachable offense.”")
The attempt to drum up new interest in the token by selling access to Trump seems to have worked, with most attendees purchasing tokens only after the announcement. Trump is profiting from both trading fees and price appreciation.
#crypto #cryptocurrency #USpolitics #USpol
Others trying to secure spots on the list have spent as much as $180,000 only to find themselves well below the threshold for an invite, battling against an opaque time-weighting mechanic meant to prioritize those who’ve held the token for longer.
#crypto #cryptocurrency #USpolitics #USpol
Other invitees include “Ogle” (a pseudonymous crypto researcher who accepted an advisory position to Trump’s World Liberty project), representatives from a project called MemeCore, and crypto traders who go by “Smooth Operator”, “Booblino”, and “GiantBabyCorn”.
#crypto #cryptocurrency #USpolitics #USpol
![Other entries on the list include a fledgling endeavor called LuckyFuture, whose two-week-old website boasts that it will be an “AI-based ETF” that will also provide lending. It’s not clear where it’s is based, though it’s likely outside of the US, as its TRUMP tokens were purchased using wallets at Binance and OKX. Another attendee is likely to be “Ogle”, a pseudonymous crypto security researcher recruited as an adviser by World Liberty Financial in September 2024. Ogle said he was motivated to join as an adviser to increase “the likelihood of [World Liberty Financial] not hurting a lot of people.”
Image: “Ogle”, a man wearing sunglasses, hat, and a bandana covering his lower face
Caption: Ogle in a September 2024 appearance on the Unchained podcast
Other identifiable wallets include one associated with the Asian BTOK crypto messaging app, the Korean BugsCoin crypto trading simulator, and crypto traders who go by “Smooth Operator”, “Booblino”, “GiantBabyCorn”, and “0xSolarcurve”. None of these individuals or entities have responded to requests for comment; GiantBabyCorn and 0xSolarcurve could not be reached](https://friendica.hellquist.eu/photo/preview/640/4897903 "Other entries on the list include a fledgling endeavor called LuckyFuture, whose two-week-old website boasts that it will be an “AI-based ETF” that will also provide lending. It’s not clear where it’s is based, though it’s likely outside of the US, as its TRUMP tokens were purchased using wallets at Binance and OKX. Another attendee is likely to be “Ogle”, a pseudonymous crypto security researcher recruited as an adviser by World Liberty Financial in September 2024. Ogle said he was motivated to join as an adviser to increase “the likelihood of [World Liberty Financial] not hurting a lot of people.”
Image: “Ogle”, a man wearing sunglasses, hat, and a bandana covering his lower face
Caption: Ogle in a September 2024 appearance on the Unchained podcast
Other identifiable wallets include one associated with the Asian BTOK crypto messaging app, the Korean BugsCoin crypto trading simulator, and crypto traders who go by “Smooth Operator”, “Booblino”, “GiantBabyCorn”, and “0xSolarcurve”. None of these individuals or entities have responded to requests for comment; GiantBabyCorn and 0xSolarcurve could not be reached")
The largest holder, with $16 million in $TRUMP tokens, is likely Justin Sun. He has registered using a hot wallet belonging to his HTX crypto exchange, meaning he may well be using customer funds to obtain a seat at the table. Sun has previously contributed $75 million to Trump’s WLFI project.
#crypto #cryptocurrency #USpolitics #USpol
The 220 wallets currently listed on the leaderboard of token holders hold a combined 12.5 million $TRUMP, notionally priced at around $137 million.
Median holdings are around $83,600. 34 attendees have holdings currently priced at $1 million or more.
#crypto #cryptocurrency #USpolitics #USpol
![Each of the VIP attendees has paid between $1.25 million and $16 million for the holdings securing them a spot on the list.
[Column graph of current holdings in USD, and weighted holdings in USD. Two holders hold between $12 and $16 million, the rest are between $1.25 and $5 million]
Out of all 220 invitees, most have $TRUMP holdings priced in the mid-five figures, with a median of around $83,600. 34 attendees have holdings currently priced at $1 million or more.](https://friendica.hellquist.eu/photo/preview/640/4897895 "Each of the VIP attendees has paid between $1.25 million and $16 million for the holdings securing them a spot on the list.
[Column graph of current holdings in USD, and weighted holdings in USD. Two holders hold between $12 and $16 million, the rest are between $1.25 and $5 million]
Out of all 220 invitees, most have $TRUMP holdings priced in the mid-five figures, with a median of around $83,600. 34 attendees have holdings currently priced at $1 million or more.")
Of the 220 largest holders, 161 (73%) are likely based outside the United States. Among the top 25 “VIP” guests offered additional private access to the president, 23 are likely foreign entities.
The event likely violates federal ethics laws that explicitly prohibit presidents from exchanging access and influence for money. The prevalence of non-US attendees also raises additional concerns with respect to foreign influence.
#crypto #cryptocurrency #USpolitics #USpol
Newsletter: Crypto traders are spending millions of dollars on TRUMP memecoins to buy access to the president at an upcoming private dinner, exacerbating existing ethics concerns. 73% of the attendees are likely not American, only adding further concerns over foreign influence.
citationneeded.news/trump-meme…
#crypto #cryptocurrency #USpolitics #USpol
Meet Trump’s memecoin dinner guests
Trump's crypto-for-access dinner triggers broad ethics alarms, and 73% non-US attendance raises fresh concerns over foreign influenceMolly White (Citation Needed)
UPDATE: We've confirmed the identities and roles of 9 more key figures affiliated with Musk, bringing our DOGE tracker to a total of 86 staffers.
projects.propublica.org/elon-m…
#News #Musk #ElonMusk #DOGE #Research #Government #USPolitics #Data
Elon Musk’s Demolition Crew
Elon Musk, the world’s richest man, has been unleashed on federal agencies. ProPublica is attempting to document who is working with him and what they are doing.ProPublica
They had traded the Trump token a bit for the first few days after it launched in January, then apparently lost interest until suddenly rediscovering it on April 21.
At the moment they still hold 9,130 TRUMP, so as of now they’ll be joining Trump at the dinner in a few weeks. solscan.io/account/9hN6DgNLxCe…
They regularly transfer funds from Bybit, suggesting they are not based in the US.
#crypto #cryptocurrency #USpolitics #USpol
Account 9hN6DgNLxCe4LMMSu3qFaGK2eWuYCuihsdVMM9J8HFhj | Solscan
The Address 9hN6DgNLxCe4LMMSu3qFaGK2eWuYCuihsdVMM9J8HFhj allows users to view transactions, token holdings, and more on the Solana blockchainsolscan.io
The Peace Corps may face major cuts as part of the Trump administration’s broader reduction of U.S. foreign aid programs.
With USAID already significantly scaled back, Peace Corps staff reductions and restructuring are raising concerns about the future of this iconic agency.
The #PeaceCorps has long served as a tool of “soft power,” boosting the U.S.’s global image through volunteer work in over 60 countries.
theconversation.com/peace-corp…
Peace Corps isn’t just about helping others − it’s a key part of US public diplomacy
The Peace Corps isn’t doing the same foreign policy work the State Department carries out. But it still helps the American brand internationally.The Conversation
Even Trump’s ‘own’ judges are blocking his second-term agenda
The judges may be conservative, but they still have to follow the law. And in case after case, Trump’s actions have gone too far.
theconversation.com/even-judge… #USPolitics #Trump
Even judges appointed by Trump are ruling against him
Instead of upholding Trump administration policies, federal judges − including Trump appointees − are blocking much of Trump’s second-term agenda. It’s what happens when a president overreaches.The Conversation
A trader bought 6,000 $TRUMP on April 21, two days before the announcement that top holders would be invited to dinner with the president. They sold it a few hours after the announcement two days later caused the token price to go up, earning $33k on the trade. Impressive timing!
#crypto #cryptocurrency #USpolitics #USpol
“They Actually Had a List”: #ICE Arrests Workers Involved in Landmark Labor Rights Case
“We are concerned at the appearance of targeting publicly pro-union worker leaders,” said a union official about a raid in western #NewYork.
from #TheIntercept
Noah Hurowitz
May 5 2025, 6:27 p.m.
theintercept.com/2025/05/05/ic…
#StopTheDeportations #immigrants
#WorkersRights #Workers #Unions #Labor #LaborMovement #LaborUnions #USA #US #USPolitics #sindicatos
#UFW #press #news
“They Actually Had a List”: ICE Arrests Workers Involved in Landmark Labor Rights Case
“We are concerned at the appearance of targeting publicly pro-union worker leaders,” said a UFW official about an ICE raid in New York.Noah Hurowitz (The Intercept)
