Cryptocurrency Live News & Updates : Preview of Congress' Upcoming Crypto Week
U.S. lawmakers are poised to vote on significant crypto legislation next week, potentially bringing a stablecoin bill to President Trump's desk before the August recess. As Congress gears up for 'Crypto Week' from July 14 to July 18, the House of Representatives is set to vote on pivotal legislation, including the Digital Asset Market Clarity Act and the GENIUS Act, which aims to regulate stablecoins. This legislative push comes amid a broader trend of institutional investment in Bitcoin, highlighted by DDC's $100 million partnership with Animoca Brands to enhance its Bitcoin strategy. Meanwhile, SEC officials are navigating the complexities of tokenized securities, with Hester Peirce emphasizing that tokenized assets still fall under existing securities laws. Trump's crypto holdings are also in focus, as the WLFI token's potential transition to a tradable asset could significantly impact his digital asset profile. The upcoming votes and discussions signal a critical moment for the crypto industry, as bipartisan support appears likely for these bills, which could establish a clearer regulatory framework and foster innovation in the sector. Show more
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Economic Times
6 minutes ago
- Economic Times
Trump to unveil $70 billion in AI and energy investments
AP President Donald Trump in Washington. (AP Photo/Evan Vucci) President Donald Trump will announce $70 billion in artificial intelligence and energy investments in Pennsylvania on Tuesday, the latest push from the White House to speed up development of the emerging is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. Investments from a range of companies will include new data centers, power generation expansion and grid infrastructure upgrades, along with AI training programs and apprenticeships, the official added. Trump will be joined by Republican Senator David McCormick who's hosting the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University. AI and energy leaders, including as many as 60 executives, are expected to attend. Among those slated to participate are BlackRock Inc.'s Larry Fink, Palantir Technologies Inc.'s Alex Karp, Anthropic's Dario Amodei, Exxon Mobil Corp.'s Darren Woods and Chevron Corp.'s Mike Wirth, the official said. Blackstone Inc.'s Jon Gray is expected to announce a $25 billion project for data-center and energy infrastructure development and a joint venture to increase power generation, which is expected to create 6,000 construction jobs annually and 3,000 permanent jobs, according to Jake Murphy, a spokesman for McCormick. Blackstone declined to comment. Axios reported the details of summit earlier. The announcements Tuesday would mark the latest step by Trump toward meeting his pledge of ensuring US leadership in artificial intelligence. Since the start of his second term, the president has taken a wide-ranging approach that includes drawing in private-sector investments, moving to ease regulations and accelerating the permit process for new projects. Earlier this year, Trump announced a $100 billion investment in AI data centers from SoftBank Group Corp., OpenAI Inc., and Oracle Corp. The administration has also rescinded Biden-era AI chip curbs as part of a broader effort to boost American innovation and ease US allies' access to advanced administration's moves are aimed at keeping the US ahead of China in the race for an advantage in AI. China has invested significantly in the emerging technology, and the Chinese startup DeepSeek rattled investors on Wall Street in January with its breakthrough R1 model that suggested AI could be developed for far lower cost. Trump and other administration officials have also stressed the importance of meeting another tech industry priority: ensuring the US has enough power to run energy-hungry AI data centers. In their view, adequate electricity supply is intertwined with national security, essential to keeping the US ahead of global competitors in the race to dominate artificial intelligence. By 2035, data centers are projected to account for 8.6% of all US electricity demand, more than double their 3.5% share today, according to data from Bloomberg Trump administration has said expanding the use of coal-fired power, along with electricity from natural gas and nuclear, is needed to help fuel the boom and has warned of future blackouts if the that fails to happen. The US Energy Department has already used emergency authority to keep two-power plants that were slated to close online, and has signaled additional federal intervention may be hosting the event in Pennsylvania, Trump and McCormick are elevating the political importance of accelerating AI development. The Keystone state is a so-called battleground that former President Joe Biden won in 2020 and Trump took 2024. The event follows the closing of the $14.1 billion acquisition of Pittsburgh-based US Steel Corp. by Nippon Steel Corp., an agreement that ended a bruising takeover battle that was embroiled in American politics for months until finally gaining support from Trump. That deal is expected to domestic steel production and protect thousands of jobs. Both Trump and Biden also jockeyed for the support of union workers, and the deal is opposed by the United Steelworkers union. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The 10-second mystery: Did the Air India crash report hide more than what it revealed? Can Indian IT's 'pyramid' survive the GenAI shake-up? Zee promoters have a new challenge to navigate. And it's not about funding or Sebi probe. The deluge that's cooling oil prices despite the Iran conflict Stock Radar: Natco Pharma stock showing signs of momentum after falling over 30% from highs – what should investors do? In mid-caps, 'just hold' often creates wealth: 10 mid-cap stocks from different sectors with upside potential up to 44% F&O Talk | Foreign outflows, IT drag pull nifty lower; next support at 24,500: Rahul Ghose How to use dividend yield in volatile times: 6 stocks where this strategy has a high chance of giving much better returns
Time of India
14 minutes ago
- Time of India
Ro Khanna pushes for release of Epstein client list, asks who the rich persons being protected
Ro Khanna pushes for the release of the Epstein Files. California Democrat rep Ro Khanna will file an amendment to an Act that would require Attorney General Pam Bondi to release Epstein's client list as the Donald Trump administration is already in a tough spot over the issue. Khanna said he will file an amendment to the GENIUS Act, a cryptocurrency bill slated to be marked up by the House Rules Committee on Tuesday. Axios reported that the amendment would require Bondi to "retain, preserve and compile any records or evidence related to any investigation, prosecution or incarceration" of Epstein. Bondi would then have to "release and publish" the records "on a publicly available website" within 30 days of the GENIUS Act being signed into law. But it's highly unlikely that Ro Khanna's amendment would make it to the House floor. 'Why are the Epstein files still hidden? Who are the rich & powerful being protected?' Khanna wrote on social media Sunday while announcing his plans. A vote would 'put every Congress member on record' about making the files public, he continued. Rep. Mark Veasey (D-Texas) also announced on social media that he'll be introducing a resolution Monday demanding the release of the files. 'Either [President Donald Trump] and his acolytes fueled the rumors of the significance of these Epstein files to help his campaign, or something is there!' he wrote, suggesting the possibility of a cover-up. The handling of the Epstein files created a major rift in the Donald Trump administration and FBI deputy director Dan Bongino was on the verge of resigning over his disagreement with Pam Bondi. Bondi overpromised for months about Epstein releases and then the administration announced that Epstein did not have any client list and hence, there would be no more investigation or prosecution in the case. 'Dan Bongino is a very good guy. I've known him a long time. I've done his show many, many times. And he sounded terrific, actually, no, I think he's in good shape," President Donald Trump said on Bongino.
India.com
19 minutes ago
- India.com
Trump threatens 100 pc secondary tariffs on countries buying Russian energy
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