Donald Trump 'disappointed' in Elon Musk as rift between former allies grows
US President claimed the Tesla CEO, who financially backed his 2024 campaign, has 'Trump derangement syndrome' after disagreements over a spending bill
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Crypto Insight
6 hours ago
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Trump's World Liberty Financial signs partnership deal with London hedge fund
World Liberty Financial (WLFI), a crypto platform tied to US President Donald Trump's family, has partnered with London hedge fund Re7 to launch a USD1 stablecoin vault across Euler Finance and liquid staking protocol Lista. The partnership is part of a broader effort to expand the presence of World Liberty's USD1 stablecoin on the BNB Chain, according to Bloomberg. Lista is one of the major liquid staking platforms for the BNB token, and its decentralized autonomous organization (DAO), which governs the platform, is backed by Binance Labs — the venture capital arm of crypto exchange Binance. Binance Labs invested $10 million in Lista in August 2023. At the time, Lista was known as Helio Protocol and the capital was meant to aid the platform's transition to a liquid staking provider. WLFI continues to receive backing from institutional investors as US dollar stablecoins and real-world asset tokenization — the two sectors the DeFi platform is focused on — become strategically important to increasing the salability of the US dollar, a major priority of the Trump administration. WLFI attracts institutional capital In April, crypto market maker DWF Labs purchased $25 million in WLFI tokens, the governance token of the WLFI platform. The market maker will also provide liquidity for the USD1 stablecoin as part of the investment deal. Aqua1 Foundation, a digital asset fund, announced a $100 million investment in the Trump-affiliated DeFi platform, citing WLFI's focus on stablecoins and real-world asset tokenization as major use cases that would restructure global finance. Trump reported $57 million in income from WLFI to the US Office of Government Ethics in a June 13 disclosure filing, the bulk of which appears to have come from token sales. Despite the investment deals and windfall income, the Trump family reduced its stake in WLFI by 20% since 2024. Source:
Khaleej Times
7 hours ago
- Khaleej Times
Immigrants scramble for clarity after US Supreme Court's birthright citizenship ruling
The US Supreme Court's ruling tied to birthright citizenship prompted confusion and phone calls to lawyers as people who could be affected tried to process a convoluted legal decision with major humanitarian implications. The court's conservative majority on Friday granted President Donald Trump his request to curb federal judges' power but did not decide the legality of his bid to restrict birthright citizenship. That outcome has raised more questions than answers about a right long understood to be guaranteed under the US Constitution: that anyone born in the United States is considered a citizen at birth, regardless of their parents' citizenship or legal status. Lorena, a 24-year-old Colombian asylum seeker who lives in Houston and is due to give birth in September, pored over media reports on Friday morning. She was looking for details about how her baby might be affected, but said she was left confused and worried. "There are not many specifics," said Lorena, who like others interviewed by Reuters asked to be identified by her first name out of fear for her safety. "I don't understand it well." She is concerned that her baby could end up with no nationality. "I don't know if I can give her mine," she said. "I also don't know how it would work, if I can add her to my asylum case. I don't want her to be adrift with no nationality." Trump, a Republican, issued an order after taking office in January that directed US agencies to refuse to recognize the citizenship of children born in the US who do not have at least one parent who is an American citizen or lawful permanent resident. The order was blocked by three separate US district court judges, sending the case on a path to the Supreme Court. The resulting decision said Trump's policy could go into effect in 30 days but appeared to leave open the possibility of further proceedings in the lower courts that could keep the policy blocked. On Friday afternoon, plaintiffs filed an amended lawsuit in federal court in Maryland seeking to establish a nationwide class of people whose children could be denied citizenship. If they are not blocked nationwide, the restrictions could be applied in the 28 states that did not contest them in court, creating "an extremely confusing patchwork" across the country, according to Kathleen Bush-Joseph, a policy analyst for the non-partisan Migration Policy Institute. "Would individual doctors, individual hospitals be having to try to figure out how to determine the citizenship of babies and their parents?" she said. The drive to restrict birthright citizenship is part of Trump's broader immigration crackdown, and he has framed automatic citizenship as a magnet for people to come to give birth. "Hundreds of thousands of people are pouring into our country under birthright citizenship, and it wasn't meant for that reason," he said during a White House press briefing on Friday. Worried calls Immigration advocates and lawyers in some Republican-led states said they received calls from a wide range of pregnant immigrants and their partners following the ruling. They were grappling with how to explain it to clients who could be dramatically affected, given all the unknowns of how future litigation would play out or how the executive order would be implemented state by state. Lynn Tramonte, director of the Ohio Immigrant Alliance said she got a call on Friday from an East Asian temporary visa holder with a pregnant wife. He was anxious because Ohio is not one of the plaintiff states and wanted to know how he could protect his child's rights. "He kept stressing that he was very interested in the rights included in the Constitution," she said. Advocates underscored the gravity of Trump's restrictions, which would block an estimated 150,000 children born in the U.S. annually from receiving automatic citizenship. "It really creates different classes of people in the country with different types of rights," said Juliana Macedo do Nascimento, a spokesperson for the immigrant rights organization United We Dream. "That is really chaotic." Adding uncertainty, the Supreme Court ruled that members of two plaintiff groups in the litigation - CASA, an immigrant advocacy service in Maryland, and the Asylum Seeker Advocacy Project - would still be covered by lower court blocks on the policy. Whether someone in a state where Trump's policy could go into effect could join one of the organizations to avoid the restrictions or how state or federal officials would check for membership remained unclear. Betsy, a US citizen who recently graduated from high school in Virginia and a CASA member, said both of her parents came to the US from El Salvador two decades ago and lacked legal status when she was born. "I feel like it targets these innocent kids who haven't even been born," she said, declining to give her last name for concerns over her family's safety. Nivida, a Honduran asylum seeker in Louisiana, is a member of the Asylum Seeker Advocacy Project and recently gave birth. She heard on Friday from a friend without legal status who is pregnant and wonders about the situation under Louisiana's Republican governor, since the state is not one of those fighting Trump's order. "She called me very worried and asked what's going to happen," she said. "If her child is born in Louisiana … is the baby going to be a citizen?"
Arabian Post
8 hours ago
- Arabian Post
Tesla Phone Hype Falls Flat Amid Scam Surge
Tesla has not formally announced plans to launch a smartphone, despite persistent online chatter. CEO Elon Musk has dismissed phone development as a low priority, describing it as 'a lot of work' and saying he hopes the company never has to build one. Fact-checking organisations confirm that no credible media outlet has reported a Tesla phone release. Rumours of a 'Tesla Pi Phone' or 'Model Pi' have circulated since 2021, citing speculative features such as solar charging, Starlink connectivity, even Mars compatibility. These claims originate from concept videos and fan speculation rather than verified sources. Fact-checkers note there is no official confirmation from Tesla or SpaceX on any such device. Elon Musk has offered occasional commentary on the subject. On the Joe Rogan Experience podcast, he said Tesla 'could do a phone, but it's not something we want to do unless we have to,' implying the company would only enter the market in response to anticompetitive behaviour by Apple or Google. In a September 2020 tweet, Musk dismissed phones and smart watches as 'yesterday's technology,' favouring developments in brain‑computer interface through Neuralink. ADVERTISEMENT The hype around the so‑called Pi Phone has created fertile ground for scams. International Business Times UK reports that fraudsters have targeted Cybertruck owners, deploying fake 'pre‑order' offers—using forged documents and impersonation—to harvest personal data and payment details. Torque News documented a scam in which someone posing as Musk sent a fake passport image and pressured owners into subscribing to a monthly billing plan. These scams illustrate the perils of tech speculations morphing into real‑world threats. While some elements of the Pi Phone concept are theoretically grounded—Tesla's expertise in battery efficiency, Starlink's expansion into mobile service, Neuralink development—significant technological barriers remain. Miniaturising satellite antennas for handheld use, attaining efficient solar charging, integrating brain‑computer interfaces and securing global satellite signals all represent substantial engineering and regulatory challenges. Tesla's current focus remains on electric vehicles, renewable energy systems, and autonomous software. The reported rollout of a self-driving Model Y delivery service in Austin underscores its priorities in automotive and AI domains. The company has not signalled intent to deviate into mainstream consumer electronics. Enthusiasts and analysts argue a Tesla phone could, if realised, leverage synergies with Starlink, Neuralink and Tesla's software ecosystem—potentially offering seamless internet access, vehicle integration, enhanced AI and energy-efficient features. Yet no solid evidence supports any timeline for such a release.
