The Latest: Federal filing shows Trump took in about $1.2 billion from crypto businesses last year
President Donald Trump took in nearly $1.2 billion from his crypto businesses last year, a federal filing released Tuesday shows, locking in profits while his investors were socked with losses.
Mere startups when he took the oath of office, the new ventures have now eclipsed in revenue much of his vast property portfolio that took him decades to accumulate.
Also, the House leadership on Tuesday abruptly canceled votes and sent lawmakers home early for the holiday recess, Speaker Mike Johnson ’s majority once again ground to a standstill by a Republican revolt over their own party’s agenda. In this case, it’s a standoff blocking the annual defense bill as Republicans push to include Trump’s own priority, the SAVE America Act, a strict voter ID bill.
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Kevin Warsh said the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought.
In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they’d be disappointed. We’re going to deliver price stability.”
The Fed typically combats inflation by raising borrowing costs. When asked about Trump’s oft-repeated desire for lower rates, Warsh underscored the Fed’s independence from day-to-day politics.
“We’ve been an independent central bank for a very long time,” he said. “We’re going to be an independent central bank at this moment and you’re going to see no changes to that.”
Such comments suggest that Warsh has shifted his views since replacing Jerome Powell as chair May 22. He called for lower rates last year as he essentially campaigned for the job. Since becoming chair, however, Warsh has appeared to move away from that stance and instead has signaled a focus on getting inflation down.
Tourists from Chattanooga check into beach resorts in Cancun. Canadian auto parts feed factories in the American Midwest — and vice versa. Happy hour revelers raise glasses of Mexican tequila and mezcal at bars in Seattle.
It adds up. The United States trades $1.9 trillion a year — $5 billion a day — worth of goods and services with its neighbors. They have supplanted China to become America’s top two trading partners.
So the stakes are high when it comes to fiddling with the rules that govern trade between the three countries. And after a year of President Donald Trump’s chaotic tariff policies, many U.S., Canadian and Mexican businesses would welcome the return of stability across North America.
They are not likely to get it.
The regional trade pact — the U.S.-Mexico-Canada Agreement, or USMCA — that Trump negotiated and boasted about came up for renewal Wednesday, starting a process that is likely to last months, maybe longer.
And the path forward is lined with landmines.
The Trump administration has imposed sanctions on a subgroup of an Ecuadorian gang that it accuses of involvement in political assassinations and narco-trafficking in the South American country.
Rubio announced Tuesday that he had designated the “Chone Killers” as a foreign terrorist organization.
The Chone Killers are an offshoot of Los Chineros, a gang the United States previously designated as an FTO in 2020.
The designation freezes any assets the group or its members may have in U.S. jurisdictions.
Chinese Foreign Minister Wang Yi urged the U.S. side to handle the Taiwan issue with “utmost caution” in a phone call with Secretary of State Marco Rubio, the Chinese foreign ministry said Wednesday.
The Tuesday call took place as the Trump administration is reviewing a $14 billion weapons sale proposal to Taiwan under a domestic law that obligates the U.S. to provide the self-governed island with sufficient hardware for self-defense. Beijing, which considers Taiwan part of Chinese territory, opposes it, suggesting the arms sale could negatively impact President Xi Jinping’s plans to visit the U.S. this fall.
“The Taiwan issue can implicate the entire China-U.S. relations, and we hope the U.S. side will handle Taiwan-related matters with utmost caution,” Wang said, according to the Chinese statement.
The U.S. State Department has yet to confirm the phone call.
The latest disclosure report listing Trump’s financial holdings shows he took in about $1.2 billion last year from crypto holdings, overshadowing a real estate business that first brought him fame.
It’s a stunning development, sped along by his own friendly policies toward the industry and help from billionaires and others with business before the presidency.
The report, which is over 900 pages, also shows Trump took in tens of millions from new properties in countries beholden to the U.S. for military support or seeking tariff relief. He got tens of millions more suing media companies.
The White House says the president has no financial conflicts with his government role and only acts in the public interest.
America has come to a landmark moment of pride and patriotism — and a time of division and doubt.
As the country turns 250 on Saturday, Americans are stepping out for celebrations in a big way. Thousands of events are unfolding from every corner of the country.
But tears in the national fabric are seen everywhere, too.
And belief in American exceptionalism has declined.
An Associated Press-NORC Center for Public Affairs Research poll shows more people in the U.S. think there are better countries than those who think the United States is the best.
Still, the party’s on.
Given a chance to talk with an artificial intelligence version of Roosevelt, Trump asked a pointed question: “Do you consider the Panama Canal your greatest achievement?”
A digital rendering of Roosevelt said the canal’s construction was one of his proudest feats, but he added that greatness is measured by lives improved. He rattled off other achievements involving parks, medicine and his Square Deal.
But with the canal, AI Roosevelt said he believed he had “left a mark that would last.”
“OK,” Trump said. “You did. Thank you.”
The exchange was shared in a video posted online by The White House as Trump toured the new Theodore Roosevelt Presidential Library. Trump has previously suggested the U.S. might seek to take back the waterway from Panama to curb China’s influence.
The Feb. 28 attack on a primary school in southeastern Iran was the deadliest reported strike in the U.S.-Israeli war against Iran. Most of the victims were children.
In almost any other conflict, these haunting truths would be seared into national memory. Yet more than 120 days since at least one U.S. missile struck the school in Minab, there remains no final accounting of what happened.
The rapid pace of U.S. bombing and chaotic death tolls have left families without resolution. President Donald Trump has denied U.S. involvement, while Iran blames the U.S. The Pentagon’s investigation remains incomplete.
The Associated Press has reconstructed the story of the attack, beginning in the schoolyard on the morning of Feb. 28, drawing from open-source information, video footage, human rights reports and interviews with researchers and civilians inside and outside Iran to reveal previously unreported details about the bombing in Minab, including the diversity of children killed.
A U.S. Navy helicopter made an emergency water landing in the Arabian Sea, leaving one sailor missing, the Navy’s 5th Fleet said in a statement Wednesday.
According to the Navy, an MH-60S Sea Hawk helicopter assigned to USS George H.W. Bush went into the water at 3:30 a.m. on Wednesday, but the statement noted that “there is no indication the emergency was caused by hostile action.”
The statement went on to say that three of the helicopter’s four crew members were recovered, but one aircrewman was still missing.
The USS George H.W. Bush is one of two aircraft carriers deployed in the waters off Iran.
Former CIA Director John Brennan sued the Trump administration on Wednesday, demanding a court order that would require officials to preserve records from investigations that are targeting him.
Brennan said in the lawsuit that the records would be essential for him to defend himself against any eventual indictment and make the case that it was a vindictive prosecution by the Republican administration.
The vice president told reporters as he was leaving Virginia Beach on Wednesday that it was still “pretty early” in talks that U.S. negotiators were having with Iranian and Qatari officials.
Vance said they were discussing details related to commercial traffic through the Strait of Hormuz and “really just ensuring that we continue to make the progress on that, and that’s what they’re focused on.”
“Obviously, we’re worried about the nuclear issue. We’re going to start talking about that,” he said.
The president has promoted his eponymous investment accounts for children, highlighting a planned $250 million contribution from Micron, a computer memory chip maker.
“This incredible gesture, made by Micron’s fantastic CEO, Sanjay Mehrotra, will make many children extremely happy some day in the not-too-distant future,” Trump posted on social media.
The accounts created by Trump’s 2025 tax cut extension include government seed stock index accounts for newborn children and allow private contributions to accounts for other children.
Micron will provide a $1,000-per-child matching benefit for employees and a one-time $250 deposit into accounts for children in the states where it operates: Idaho, New York, Virginia, California, Colorado, Minnesota and Texas
Micron estimates its commitments will benefit up to 1 million children.
The vice president visited Naval Air Station Oceana in Virginia and began his speech joking that he reminded himself while taking the stage, “Don’t fall and bust your ass.”
The vice president noted former President Joe Biden having infamously tripped in the past, adding, “If I did it one time, it would be a major, major story.”
Vance also slammed critics who he said want the U.S. military “to just keep going and keep going” in Iran and “attack the president of the United States for using the leverage that you gave him to engage in negotiations.”
Vance said unnamed people had similarly suggested the U.S. do more during past wars in Iraq and Afghanistan.
Such critics, he said, “Encouraged us to just go a little bit further and just drop a few more bombs.”
Victor Willis, who co-founded the Village People and helped write the disco group’s classic hits, has died at age 74.
The song “Y.M.C.A.” is a favorite of Trump’s and is often played at his events.
“We will think of Victor every time ‘Y.M.C.A.’ is played, like today, and all throughout this July Fourth Birthday week,” Trump wrote on social media Wednesday. “My condolences to his wonderful family and group, Victor Willis will be sorely missed.”
The U.S. military now has about 900 military personnel supporting relief efforts in Venezuela following a pair of powerful back-to-back earthquakes that struck the country June 24, Steven McCloud, a U.S. Southern Command spokesperson said.
The statement comes as U.S. Southern Command continues to utilize a host of military aircraft and ships to move supplies and equipment into the country and U.S. Marines have joined search and rescue teams. The Marine Corps has also brought military transport trucks, highly mobile off-road vehicles and military ambulances to “further accelerate the movement of critical supplies and equipment,” a Southern Command statement said Wednesday.
McCloud added that there are also about 100 people from the State Department supporting aid and relief work.
The Venezuelan government has reported more than 1,400 deaths from the quakes over the weekend as well as thousands more that have been reported missing.
It comes accusations they were working as spies for Cuba’s socialist government.
The State Department said Tuesday that it had revoked the legal status of Carlos Antonio Lloga Dominguez, his wife and son, all of whom are now in federal custody awaiting deportation. The department said Lloga Dominguez had worked for more than a decade in the U.S. as an agent of the Cuban Institute of Friendship with the People, which it said was an “influence and intelligence front group” for Cuba.
“Under the Trump Administration, America will never become home for Cuban Communist regime thugs who peddle propaganda, run foreign influence operations, or seek to wage revolution against American civilization,” the department said in a statement.
The president is visiting North Dakota on Wednesday to see the newly built Theodore Roosevelt Presidential Library, a massive facility exploring the life of America’s 26th president. The 96,000-square-foot library is in the rugged, lonely landscape where the young Easterner built his conservation values while ranching and hunting in the 1880s.
Saturday’s official opening coincides with July Fourth celebrations honoring the 250th anniversary of the signing of the Declaration of Independence.
Trump is coming early to see the $450 million project, a boost for Interior Secretary Doug Burgum, a former governor of North Dakota, while also bringing the nation’s birthday festivities to a region synonymous with its westward expansion.
President Trump is taking his maiden voyage on a new Air Force One — a retrofitted Boeing 747 worth $400 million gifted by Qatar that embeds his personality more deeply into the institution of the American presidency.
Gone is the trademark light blue hull that helped Air Force One blend into the sky. The refurbished jet is painted to Trump’s preferred color scheme of a navy belly and red and gold stripes. It has the luxury features the president believes a commander-in-chief’s entourage should have — plush carpets, lie-flat seats, wood paneling and a presidential seal on the seat belts, according to reported tours of the plane.
Trump told reporters he was proud of the luxurious plane. “You can do two things: You can low-key it, or you can show it,” he said.
The president said federal housing finance regulator Bill Pulte, who Trump named as the acting director of national intelligence, “can declassify whatever” he wants.
Pulte’s elevation to the position has been a source of tension because of his lack of national security credentials. But he’s been given free reign to force job cuts at the Office of the Director of National Intelligence.
“Bill is there just for a fairly short period of time, but while he’s there, I said, ‘You can declassify whatever you want,’” Trump told reporters before boarding Air Force One.
The president estimated that Pulte could hold the job for one or two months. There’s been a push inside Trump’s movement to release documents to back up Trump’s claims that the 2020 presidential election was stolen from him, despite electoral results that show a clear loss to Democrat Joe Biden.
Trump has nominated Jay Clayton, the U.S. attorney for the Southern District of New York, to be the permanent DNI.
The president said Clayton will have a Senate hearing on his nomination in two weeks, after having canceled Clayton’s initial hearing.
Financial disclosures show Trump made roughly $1.2 billion off his crypto currency ventures last year, but the president claimed he’s not directing his investments.
“We have funds that run my money,” Trump said. “I made a lot of money before I became president, and they invest my money, and I don’t talk to them. I never, I don’t even speak to them.”
Trump claimed his financial gains largely came from a rising stock market and that those profits help the country as a whole.
“We’re all profiting,” Trump said. “I’m profiting because I have a lot of money and a lot of cash.”
But not all Americans have access to the stock market.
Treasury Secretary Scott Bessent has said that 38% of Americans don’t have exposure to the stock market.
Trump beamed with pride about the new Air Force One before its initial voyage, telling reporters pictures of the Boeing 747 given to him by Qatar would win the Pulitzer Prize.
The plane was given to the U.S. by Qatar and Trump relayed how the exchange happened. He said he asked Boeing — which is set to deliver new planes for the presidential jet in 2028 — if there were any counties that had potential substitutes in the interim.
“I said, ‘Who has the best one?’ They said, ‘Qatar. There’s no, there’s never been a plane like it.’ Frankly, we couldn’t build a plane like this because we wouldn’t be willing to spend the kind of money necessary. They spent top dollar,” Trump said.
The president said he went to Qatar and asked to use its plane for a period of time and the emir said he would instead give the plane to Trump. The president described the plane as “a gift from a country that has treated us very well.”
“You’re going to get a kick out of it,” Trump said to reporters about the plane. “There’s just nothing like it.”
President Trump’s administration looked to the Supreme Court to greenlight its sweeping hard-line immigration agenda and, by and large, it got the backing it was looking for with one key exception — birthright citizenship.
After lower courts repeatedly ruled against the Trump administration, the nation’s top court allowed it to terminate temporary protections for people fleeing war or strife. It gave immigration officers greater leeway in dealing with green card holders returning from abroad, and it allowed the government to limit the number of people who can apply for asylum.
In being asked to serve as an enabler of the Republican president’s contentious immigration crackdown, the Supreme Court showed deference to constitutional guardrails in the key case of birthright citizenship that would have redefined who can be an American. In ruling against the administration, the court upheld the idea that people who are born in the United States, regardless of their parents’ immigration status, are Americans.
For decades, disabled people have fought for their rights to go to school and live alongside peers without disabilities — rights that some fear could be losing ground under the Trump administration.
Last month, the Education Department announced it would offload oversight of special education to the Department of Health and Human Services, led by Robert F. Kennedy Jr., whose comments on the limits of disabilities such as autism have drawn sharp rebukes from advocates and lawmakers.
Meanwhile, following a White House push to police homelessness, the Department of Justice released guidance that lowered the barrier to institutionalizing any person with a disability.
Taken together, the actions signal a worrying return to a reality where people with disabilities are pushed to the margins of society, advocates said.
“It’s a direct, frontal assault on the rights of people with disabilities to live their lives the way that people who are nondisabled live their lives,” said Selene Almazan, legal director for the Council of Parent Attorneys and Advocates. “I can’t imagine that as a country, that would be something that we would agree we should go back to.”
Advice columnist E. Jean Carroll asked a judge Tuesday to require President Donald Trump to pay her $5 million from a jury verdict that concluded Trump sexually abused her in the 1990s and defamed her after she publicly described the attack in 2019.
Lawyers for Carroll filed papers in Manhattan federal court to say Trump is unjustly trying to further delay release of the money after the Supreme Court refused Monday to hear an appeal of the 2023 civil jury verdict.
The amount has grown to nearly $5.8 million with interest and should be required by the court to be disbursed, the lawyers wrote, saying Trump has resumed his defamatory attacks against Carroll as his lawyers considered asking the high court to reconsider its decision.
The jury reached its verdict in a trial that Trump did not attend after Carroll testified that she was sexually abused by Trump in spring 1996 in the dressing room of a midtown Manhattan luxury department store after a flirtatious and friendly chance encounter between them turned violent.
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