
Stablecoin Bill Poised to Pass as House Kicks Off ‘Crypto Week'
Industry backers hope the legislation will promote wider use of dollar-denominated stablecoins, marking the first big victory for crypto advocates since they poured hundreds of millions of dollars last year into efforts to elect friendly lawmakers, according to Federal Election Commission filings.
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China, US to extend tariff pause at Sweden talks by another 90 days, SCMP reports
(Reuters) -Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday, the South China Morning Post (SCMP) reported on Sunday, citing people familiar with the matter. During the expected 90-day extension, the U.S. and China will agree not to introduce new tariffs or take other actions that could further escalate the trade war, the report said. While the earlier discussions in Geneva and London focused on "de-escalation", the latest meeting the Chinese delegation will also press Trump's trade team on fentanyl-related tariffs, the report further said, citing three sources familiar with the matter. Reuters could not immediately verify the report. The White House did not immediately respond to requests for comment. The third round of U.S.-China talks is set to be held in Stockholm on Monday to tackle longstanding economic disputes at the centre of the countries' trade war.

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22 minutes ago
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Can a county fire a sheriff behind closed doors? Advocacy group threatens to sue for access
An open government advocacy group is threatening to sue a California county that is preparing to discuss firing its elected sheriff behind closed doors. San Mateo County Sheriff Christina Corpus, who serves one of the wealthiest communities in the country, has faced calls for her removal since an explosive November report from a retired judge found that she likely violated the county's policy on nepotism and conflicting relationships. The report alleged that, by 2024, Corpus had 'relinquished control' of the department to a subordinate. That led to a ballot measure last year that voters passed to empower the county Board of Supervisors to remove her from office, which they voted to do in June. Corpus appealed, leading to the scheduled August evidentiary hearing. As part of the removal proceedings, Corpus' legal team asked that the removal hearing take place behind closed doors. 'The county should decline,' wrote First Amendment Coalition attorney Aaron Field in a letter to the county Board of Supervisors. 'Barring the press and public from the removal hearing as Sheriff Corpus has requested would violate the First Amendment right of access to public proceedings, undermine a panoply of compelling public interests in administering the removal hearing transparently and needlessly shut San Mateo citizens out of a key phase of a process.' The hearing is scheduled to begin Aug. 18 and is expected to last about 10 days. CalMatters originally filed a request to open the June removal hearing to the public, a request that was denied. The First Amendment Coalition is making the same request for the August removal hearing. Corpus' removal — and her fight against it, including unsuccessfully filing for a restraining order to stop the proceedings — has roiled her department and the community for nearly a year. Several cities in her county have given her administration no-confidence votes, and the unions representing both her deputies and her sergeants have called for her removal. A San Mateo County spokesperson said the county had received the First Amendment Coalition's letter and would announce a decision soon. 'The county has consistently expressed its view that this should be a fully transparent process, including having the August appeal hearing for her removal from office be open,' said San Mateo County spokesperson Effie Milionis Verducci. 'However, the sheriff has blocked it.' The sheriff's department is still in turmoil, most recently when Corpus put a San Mateo County sheriff's sergeant on leave. That sergeant had testified extensively in a second county investigation into Corpus. The union representing San Mateo County Sheriff's sergeants objected, alleging the sergeant was put on leave as retaliation for his testimony. Corpus denied that her actions had anything to do with the report in a statement posted to the sheriff's office website. 'His temporary administrative leave is entirely unrelated to any comments or cooperation he may have provided in the Keker report,' Corpus said in the statement. Duara writes for CalMatters, where the article first appeared. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
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Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. SpaceX has reportedly moved parts of its Bitcoin holdings after a long period of dormancy. Cryptocurrency intelligence platform Arkham said Tuesday on X that a wallet linked to the Elon Musk-led space exploration and technology company had moved about 1,300 BTC worth over $153 million, marking the first time the wallet has been touched since June 2022. 'SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS,' Arkham wrote. 'They sent 1.3K BTC ($153M) to a fresh address this morning.' Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— — no wallets, just price speculation and free paper trading to practice different strategies. The report has raised questions about the purpose of the transfer, with moves like this typically indicative of a wallet custody adjustment or an impending sell-off. SpaceX did not immediately respond to a Benzinga request for comment. According to Arkham data, the SpaceX-linked wallet still holds nearly 7,000 BTC worth over $830 million. Meanwhile, at last look, the transferred 1,300 BTC has not moved from the recipient address. The recent asset movement comes as SpaceX's lucrative government contracts have reportedly come under scrutiny from the Trump administration following Musk's row with President Donald Trump. Meanwhile, amid this uncertainty, the firm is seeking to raise over $1 billion to secure a $400 billion valuation. Trending: Grow your IRA or 401(k) with Crypto – . SpaceX's Bitcoin Exploration Musk first disclosed that SpaceX had added Bitcoin to its balance sheet in July 2021, without revealing how much the firm had invested in the asset. But reporting from blockchain sleuths suggests that the firm purchased nearly 26,000 BTC for about $860 million in 2021 at an average price of $33,000 per coin. Sometime down the line, however, the reporting suggests that the firm reduced its holdings to just over 8,000 BTC. This aligns with Wall Street Journal findings in August 2023, indicating that the firm had sold the asset. Similarly, Tesla purchased over 43,000 BTC worth $1.5 billion in February 2021, according to Securities and Exchange Commission filings. The firm cited a need 'for more flexibility to diversify and maximize returns' on its cash as the reason for its decision. Like SpaceX, Tesla has also significantly reduced its Bitcoin holdings to just over 11,500 BTC, worth $1.4 billion at last his firms have significantly reduced their Bitcoin holdings in recent years, Musk in 2022 said that he intended not to sell his holdings. He said this while discussing inflation concerns. 'It is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high,' he said on X at the time. 'I still own & won't sell my Bitcoin, Ethereum or Doge fwiw.' Recently, Musk has stoked speculation that he has been quietly accumulating the asset by liking a post suggesting so. He has also said his proposed political party, the 'America party,' would 'embrace Bitcoin,' slamming fiat as 'hopeless' in the wake of his disillusionment with the government's decision to pass the so-called "One Big Beautiful Bill." The act's provisions could add over $3 trillion to the national deficit in the next decade, according to estimates by the Congressional Budget Office in May. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data