How Trump's new crypto bill could affect stablecoins and the dollar
A new bill making its way through Congress aims to regulate stablecoins, most of which are pegged to the U.S. dollar. Should the bill become law, Solidus Labs' Chen Arad explores the implications for the stablecoin industry and the greenback.
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The Advertiser
an hour ago
- The Advertiser
A group of wealthy people ready to buy TikTok: Trump
US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of "very wealthy people" who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel's Sunday Morning Futures with Maria Bartiromo. "We have a buyer for TikTok, by the way," Trump said. "I think I'll need probably China's approval. I think President Xi (Jinping) will probably do it." Under former US president Joe Biden's administration, Congress had passed legislation requiring TikTok to cut ties with its Chinese parent company ByteDance and secure ownership by an investor from a country not deemed a "national adversary" by January 20, the day Trump took office again. When no deal was reached by the deadline, TikTok briefly went offline in the US until Trump, on his first day back in the White House, signed an executive order granting a 75-day extension. On April 4, he provided an additional 75-day extension, and on June 19 extended that again by 90 days, pushing the deadline to September 17. Trump, who has expressed fondness for the app, reiterated that TikTok played a role in his election victory by boosting his popularity among younger voters. "I have a soft spot for TikTok," he said. with EFE US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of "very wealthy people" who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel's Sunday Morning Futures with Maria Bartiromo. "We have a buyer for TikTok, by the way," Trump said. "I think I'll need probably China's approval. I think President Xi (Jinping) will probably do it." Under former US president Joe Biden's administration, Congress had passed legislation requiring TikTok to cut ties with its Chinese parent company ByteDance and secure ownership by an investor from a country not deemed a "national adversary" by January 20, the day Trump took office again. When no deal was reached by the deadline, TikTok briefly went offline in the US until Trump, on his first day back in the White House, signed an executive order granting a 75-day extension. On April 4, he provided an additional 75-day extension, and on June 19 extended that again by 90 days, pushing the deadline to September 17. Trump, who has expressed fondness for the app, reiterated that TikTok played a role in his election victory by boosting his popularity among younger voters. "I have a soft spot for TikTok," he said. with EFE US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of "very wealthy people" who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel's Sunday Morning Futures with Maria Bartiromo. "We have a buyer for TikTok, by the way," Trump said. "I think I'll need probably China's approval. I think President Xi (Jinping) will probably do it." Under former US president Joe Biden's administration, Congress had passed legislation requiring TikTok to cut ties with its Chinese parent company ByteDance and secure ownership by an investor from a country not deemed a "national adversary" by January 20, the day Trump took office again. When no deal was reached by the deadline, TikTok briefly went offline in the US until Trump, on his first day back in the White House, signed an executive order granting a 75-day extension. On April 4, he provided an additional 75-day extension, and on June 19 extended that again by 90 days, pushing the deadline to September 17. Trump, who has expressed fondness for the app, reiterated that TikTok played a role in his election victory by boosting his popularity among younger voters. "I have a soft spot for TikTok," he said. with EFE US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of "very wealthy people" who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel's Sunday Morning Futures with Maria Bartiromo. "We have a buyer for TikTok, by the way," Trump said. "I think I'll need probably China's approval. I think President Xi (Jinping) will probably do it." Under former US president Joe Biden's administration, Congress had passed legislation requiring TikTok to cut ties with its Chinese parent company ByteDance and secure ownership by an investor from a country not deemed a "national adversary" by January 20, the day Trump took office again. When no deal was reached by the deadline, TikTok briefly went offline in the US until Trump, on his first day back in the White House, signed an executive order granting a 75-day extension. On April 4, he provided an additional 75-day extension, and on June 19 extended that again by 90 days, pushing the deadline to September 17. Trump, who has expressed fondness for the app, reiterated that TikTok played a role in his election victory by boosting his popularity among younger voters. "I have a soft spot for TikTok," he said. with EFE
News.com.au
an hour ago
- News.com.au
Trump suggests he'll target journalists to find out who leaked negative report on Iran strikes
US President Donald Trump has suggested that federal investigators would coerce reporters to tell the government who leaked the 'low confidence' preliminary Defense Intelligence Agency (DIA) assessment that his strikes on Iran may only set the regime's nuclear program back by a few months. Mr Trump repeated his demand that the leaker be prosecuted and speculated that Democrats may have been behind the report going public. 'They could find out easily. And you go up and tell the reporter, 'National security, who gave it.' You have to do that. And, I suspect will be doing things like that,' Mr Trump told Fox News' 'Sunday Morning Futures' in a pre-taped interview. It aired as Iran said it was not convinced Israel would abide by a ceasefire that ended their 12-day war last week. The most serious escalation to date between the arch-foes erupted on June 13, when Israel launched a bombing campaign in Iran that killed top military commanders and scientists linked to its disputed nuclear program. Israel said its aim was to keep the Islamic republic from developing a nuclear weapon – an ambition Tehran has consistently denied, insisting it has the right to develop nuclear power for civilian purposes like energy. The fighting derailed nuclear talks between Iran and the US, a staunch ally of Israel's. 'We did not start the war, but we have responded to the aggressor with all our power,' Iran's armed forces chief of staff, Abdolrahim Mousavi, was quoted as saying by state television, referring to Israel. 'We have serious doubts over the enemy's compliance with its commitments including the ceasefire, we are ready to respond with force' if attacked again, he added, six days into the ceasefire announced by Mr Trump. Meanwhile, an Israeli court on Sunday postponed Prime Minister Benjamin Netanyahu's testimony in his corruption trial after he requested a delay, as Mr Trump called for the case to be thrown out. 'Following the explanations given … we partially accept the request and cancel at this stage Mr Netanyahu's hearings scheduled' for this week, the Jerusalem district court said in its ruling, published online by Netanyahu's Likud party. Mr Netanyahu's lawyers had asked the court to excuse him from testifying over the next two weeks so he could focus on security issues following a ceasefire with Iran and amid ongoing fighting in Gaza where Israeli hostages are held. They had submitted Netanyahu's schedule to the court to demonstrate 'the national need for the prime minister to devote all his time and energy to the political, national and security issues at hand'. The court initially rejected the lawyers' request but said in its ruling on Sunday that it had changed its Judgement after hearing arguments from the prime minister, the head of military intelligence and the chief of the Mossad spy agency.
News.com.au
9 hours ago
- News.com.au
‘Make the deal': Donald Trump shifts focus back on Gaza
US President Donald Trump has seemingly returned his focus to the war in Gaza after his role in broking a ceasefire between Israel and Iran. Mr Trump had spent most of Sunday, AEST, doing a running commentary on events at the Capitol where the US Senate was debating his 'Big, Beautiful Bill'. Then in a later post on his Truth Social account, made at about 1am Washington DC time, the President urged Israel and Hamas to strike an agreement in its ongoing conflict. 'MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!! DJT,' he wrote. Mr Trump, who has closely aligned himself with Israel's leader Benjamin Netanyahu, was referencing the Israeli hostages taken by militant group Hamas during its October 7, 2023 terror attacks. It is believed 50 hostages remain after Hamas released some of its captives during earlier ceasefire agreements. Israel's war in Gaza has resulted in the deaths of more than 50,000 Palestinians, according to local authorities. Speaking on Friday, US time, Mr Trump said he believed a ceasefire between Israel and Hamas was 'close'. 'I just spoke to some of the people involved,' he said. 'We think within the next week we're going to get a ceasefire.' Israel's military on Sunday issued an evacuation order for northern Gaza, warning Palestinians in parts of Gaza City and nearby areas of imminent action there. The warning, which comes more than 20 months into the war with Hamas, foreshadowed 'intense force in these areas'. Israeli Defense Force spokesman Avichay Adraee posted to X that 'these military operations will intensify and expand … to destroy the capabilities of the terrorist organisations'. Mr Adraee's post was accompanied by a map of northern Gaza, telling residents to 'evacuate immediately south to Al-Mawasi'. 'Hamas is harming you and bringing disaster upon you,' he wrote. 'Returning to dangerous combat zones poses a threat to your lives.' There has been increasing global criticism over ongoing civilian deaths in the Palestinian territory, with reports of famine and shootings at food aid sites. Gaza's civil defence agency said Israeli forces killed 37 people on Saturday, including at least nine children who died in strikes. Civil defence spokesman Mahmud Bassal told AFP 35 people were killed in seven Israeli drone and air strikes in various locations, and two others by Israeli fire while waiting for food aid in the Netzarim zone in central Gaza. He said the dead included three children who were killed in an air strike on a home in Jabalia, in northern Gaza. Mr Bassal said at least six more children died in a neighbourhood in the northeast of Gaza City, including some in an air strike near a school where displaced people were sheltering. Israeli news outlet Haaretz this week published a story citing unnamed IDF soldiers who claim they were 'ordered' to open fire at unarmed civilians near aid distribution centres. French Foreign Minister Jean-Noel Barrot said on Saturday that he was concerned at the '500 people who have lost their life' in similar incidents in recent weeks. He said France 'stands ready, Europe as well, to contribute to the safety of food distribution' in Gaza. The Israeli military has strongly denied allegations made in Haaretz, telling the Times of Israel its soldiers operated 'under difficult conditions against a terrorist enemy that operates from within the civilian population'. 'IDF soldiers receive clear orders to avoid harming innocent civilians, and they act accordingly.' Mr Trump also backed Mr Netanyahu in a Truth Social post on Srurday, local time, saying he was 'not going to stand' for an ongoing corruption case being run against the Israel Prime Minister. An Israeli court on Friday rejected Mr Netanyahu's request to postpone giving testimony in his corruption trial, ruling that he had not provided adequate justification for his request. In one case, Netanyahu and his wife Sara are accused of accepting more than US$260,000 worth of luxury goods such as cigars, jewellery and champagne from billionaires in exchange for political favours. Mr Trump called Mr Netanyahu a 'war hero' and likened the court case to his own legal battles in recent years. 'Importantly, he is right now in the process of negotiating a Deal with Hamas, which will include getting the Hostages back,' he wrote. 'How is it possible that the Prime Minister of Israel can be forced to sit in a Courtroom all day long, over NOTHING (Cigars, Bugs Bunny Doll, etc.). 'It is a POLITICAL WITCH HUNT, very similar to the Witch Hunt that I was forced to endure.'
