Trump threatens Russia with tariffs if war on Ukraine isn't resolved
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France 24
4 hours ago
- France 24
US House passes landmark crypto measures in win for Trump
Lawmakers easily approved the CLARITY Act, which aims to establish a clearer regulatory framework for cryptocurrencies and other digital assets. The bill is designed to clarify industry rules and divide regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It will now advance to the Senate, where Republicans hold a slim majority. House legislators also readily passed the GENIUS Act, which codifies the use of stablecoins -- cryptocurrencies pegged to stable assets like the US dollar or US bonds. This bill is expected to go directly to President Trump for his signature to become law. The Senate passed the GENIUS Act last month, and it sets requirements such as mandating that issuers hold reserves of assets equal in value to their outstanding cryptocurrency. "This historic legislation will bring our payment system into the 21st century. It will ensure the dominance of the US dollar. It will increase demand for US Treasuries," said Senator Bill Hagerty, the measure's sponsor in the Senate. This wave of legislation follows years of skepticism towards crypto, driven by the belief that the sector, born from bitcoin's success, should be tightly controlled and kept separate from mainstream investors. However, after crypto investors contributed millions of dollars to his presidential campaign last year, Trump reversed his previous doubts about the industry. He even launched a Trump meme coin and other ventures as he prepared for his return to the White House and hosted a gala dinner for the coin's top buyers once he was in office. And according to the Financial Times, Trump is now preparing to open the $9 trillion US retirement market to cryptocurrency investments as well as gold, and private equity. Notably, both the CLARITY Act and the GENIUS Act garnered significant bipartisan support, with Democrats also having seen an increase in lobbying and contributions from the crypto industry. "It's critically important we bring more certainty to the marketplace with clear rules of the road," said congressman Josh Gottheimer, a Democrat who supported the bills. Since taking office, Trump has made several moves to support the crypto sector, including appointing crypto advocate Paul Atkins to lead the SEC. He also established a federal "Strategic Bitcoin Reserve" to audit the government's bitcoin holdings, primarily accumulated through law enforcement's judicial seizures. Forbes magazine estimates that the president's foray into the crypto business has doubled his wealth to $5.3 billion in just one year. In a largely partisan vote, the Republican-led House also passed the Anti-CBDC Surveillance State Act. It aims to block the issuance of a central bank digital currency (CBDC) -- a digital dollar issued by the US Federal Reserve -- even if there currently are no plans for such an endeavor. Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control private citizens' financial transactions, thereby undermining privacy and civil liberties. Passage of this measure in the Senate is far from guaranteed before it can go to the president's desk. An earlier attempt to set aside the anti-CBDC bill caused a significant stir among a small group of Republicans and delayed passage of the other two bills until eleventh-hour lobbying by Trump helped resolve the issue.
France 24
4 hours ago
- France 24
Netflix profits surge 45% off higher subscription prices
Revenue climbed 16 percent to $11.1 billion in the quarter ended June 30, beating analyst estimates and the company's own guidance, while net profit surged to $3.1 billion. Netflix highlighted strong performance from its content offers in the quarter, with major hits including the third season of "Squid Game," which drew 122 million views. It "has already become our sixth biggest season of any series in our history, with just a few weeks of viewing so far," the company said in a statement. Other standout titles included the third season of "Ginny & Georgia" with 53 million views and "Sirens" with 56 million views. There was also the animated film "KPop Demon Hunters" with 80 million views, which became "one of our biggest animated films ever" and generated a soundtrack that topped music charts globally. "Korean content continues to be popular with our audience," the company said, pointing to the continued success of international programming that has become a hallmark of Netflix's global strategy. Netflix expressed optimism about the second half of 2025, highlighting an upcoming slate that includes the highly anticipated second season of "Wednesday," the final season of "Stranger Things" and new films from major directors including Kathryn Bigelow and Guillermo del Toro. The company has also announced plans to expand live programming with marquee boxing matches and NFL games, as it continues to diversify its content offerings beyond traditional on-demand entertainment. Netflix shares have surged approximately 40 percent year-to-date as investors have responded positively to the company's shift toward profitability. The company counted over 300 million subscribers last December, at the end of a particularly successful holiday season, when it had just gained almost 19 million new subscriptions. But the company no longer discloses these figures, in order to focus on audience "engagement" metrics (time spent watching content). In the quarter, Netflix continued to build out its advertising capabilities, saying that it expects to roughly double ads revenue in 2025, though it did not provide specific figures. The service is forecasting $9 billion in revenues from its ad-based subscriptions by 2030.
Sustainability Times
6 hours ago
- Sustainability Times
Buried Reactors, Silent Power: Deep Fission's Radical Nuclear Plan Could Revolutionize How the World Feeds Its Data Machines
IN A NUTSHELL 💡 Deep Fission plans to revolutionize energy by burying micro-reactors underground to power data centers efficiently. plans to revolutionize energy by burying underground to power data centers efficiently. 🤝 Strategic partnerships with companies like Endeavour highlight the growing trend of leveraging nuclear power in the tech industry. highlight the growing trend of leveraging nuclear power in the tech industry. 🔧 The use of small modular reactors (SMRs) promises cost reduction and increased accessibility through mass production techniques. promises cost reduction and increased accessibility through mass production techniques. 📈 Despite regulatory challenges, Deep Fission targets operational status by 2029, potentially transforming the U.S. nuclear landscape. The concept of burying nuclear reactors underground might seem like a scene from a sci-fi movie, but it's becoming a reality thanks to innovative startups like Deep Fission. In a world grappling with escalating energy demands, especially from data centers powering AI technologies, traditional energy sources are being pushed to their limits. As a response, the nuclear sector is undergoing a renaissance, with companies exploring groundbreaking ways to generate clean and efficient power. Deep Fission, in collaboration with data center developer Endeavour, aims to harness subterranean nuclear power to meet these demands. But how exactly does this approach work, and what implications does it have for the future of energy? The Rise of Subterranean Nuclear Power The 1950s marked the beginning of underground nuclear testing as countries sought to minimize fallout from aboveground detonations. Fast forward to today, and this concept of using the earth as a natural barrier is being revisited by Deep Fission. By lowering small modular reactors into one-mile-deep boreholes, the company aims to utilize the insulating properties of the earth to safeguard its operations. This method not only promises enhanced safety but could also reduce the need for the tons of concrete traditionally required for reactor construction. Deep Fission's partnership with Endeavour signals a significant step toward realizing this vision, with plans to generate 2 gigawatts of subterranean nuclear power. The startup's innovative approach aligns with the growing trend among nuclear companies to develop compact reactors that can be mass-produced, subsequently lowering costs and increasing accessibility. The collaboration also underscores a broader effort within the tech industry to secure reliable and sustainable energy sources to fuel the ever-increasing computational power required by AI technologies. '18 Hours Without Cooling': Nuclear Reactor Left Unprotected After Technician Closes Wrong Valve in Alarming Safety Breach Strategic Partnerships and Investments Strategic partnerships are at the core of Deep Fission's approach, as demonstrated by its recent deal with Endeavour. Although the financial terms of the agreement remain undisclosed, it highlights the trust and confidence stakeholders have in the startup's vision. The partnership is part of a broader trend where tech giants like Google and Amazon are turning to nuclear startups to meet their energy needs. For instance, Google has teamed up with Kairos for 500 megawatts of reactors, while Amazon collaborates with X-Energy for around 300 megawatts. These alliances emphasize the importance of sustainable and efficient energy solutions in the tech industry. As data centers continue to expand globally, their energy consumption increases, necessitating innovative solutions like those offered by Deep Fission. Such partnerships not only showcase the potential of nuclear power in a modern context but also highlight the critical role of investment in driving technological advancements and sustainability efforts. 'Elusive Plasma Voids Found': US Scientists Crack Tokamak Confinement Mystery After Decades of Global Fusion Frustration The Promise of Small Modular Reactors At the heart of Deep Fission's strategy is the use of small modular reactors (SMRs). These reactors offer numerous advantages over traditional nuclear power plants, primarily due to their compact size and modular design. By utilizing mass production techniques, SMRs promise to significantly reduce the cost of nuclear power, making it a more viable option for widespread adoption. Their smaller footprint also allows for easier integration into existing infrastructure, maximizing land use efficiency. Deep Fission's reactors employ pressurized-water designs, a reliable technology used in various applications, from nuclear submarines to large-scale power plants. This approach highlights the adaptability and versatility of SMRs, making them suitable for a wide range of energy needs. The ability to generate power at a cost of five to seven cents per kilowatt-hour positions Deep Fission as a competitive player in the energy market, with the potential to revolutionize how we think about nuclear power. 'America Races to Catch China': U.S. Fast-Tracks Nuclear Reactor Testing in Urgent Bid to Regain Global Energy Lead Regulatory Challenges and Future Prospects Despite the promising prospects of subterranean nuclear power, regulatory approval remains a significant hurdle for startups like Deep Fission. The company began the licensing process with the Nuclear Regulatory Commission (NRC) in March, facing a timeline that, historically, could span several years. However, recent changes in legislation have introduced an 18-month limit for the NRC to approve or reject small modular reactors, expediting the process and providing a clearer path for innovation. As Deep Fission targets operational status for its first reactor by 2029, it joins a wave of companies poised to transform the nuclear landscape in the U.S. While the path to regulatory approval is fraught with challenges, the potential benefits of this technology are undeniable. As the world continues to seek sustainable and efficient energy solutions, could subterranean nuclear power be the breakthrough we've been waiting for? This article is based on verified sources and supported by editorial technologies. Did you like it? 4.5/5 (27)
