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President Donald Trump recently spoke to the South Carolina Republican Party’s Silver Elephant Gala through a phone that Sen. Lindsey Graham held up to a microphone.

Trump, who endorsed Graham for re-election earlier this year, continued expressing his support for the senator while speaking on the phone.

Trump said the senator has his ‘full endorsement,’ calling him a ‘great guy,’ saying that Graham has always been there for him when he needed him and he ‘won’t forget it.’

‘Thank you for your surprise call, Mr. President!’ Graham said in a post on X that also featured footage of Trump’s remarks about him. 

‘With your support, I’ll keep delivering the America First agenda to the great people of South Carolina. I’m glad to have been part of the most awesome six months in modern history led by President @realDonaldTrump.’

Graham, who has served in the Senate since 2003, is facing Republican primary challengers.

Paul Dans, the former director of the 2025 Presidential Transition Project at the Heritage Foundation and who is one of Graham’s challengers, attended the event where Trump spoke by phone.

‘Lindsey Graham’s terrified—his Senate seat’s at risk against me, his toughest challenger yet. After 32 years of broken term-limit promises, he’s done. Clinging to President Trump won’t save him from SC’s America First Patriots who see his grift. #LindseyPanic #PrezTrumpPlsHelpMe,’ Dans wrote in a post on X.

Graham will be up for re-election in 2026.

This post appeared first on FOX NEWS

President Donald Trump will use the upcoming summit with Russian President Vladimir Putin to test how serious Putin is about ending the war with Ukraine, NATO Secretary General Mark Rutte said Sunday.

Rutte told ABC’s ‘This Week’ that the meeting comes as Trump continues to put pressure on Putin, noting the recent secondary sanctions on countries like India, which purchased Russian oil, and delivering lethal weapons to Ukraine.

‘Next Friday will be important because it will be about testing Putin, how serious he is on bringing this terrible war to an end,’ Rutte said.

Trump announced the first in-person meeting with Putin since Moscow launched its deadly invasion of Ukraine in 2022 in a Truth Social post on Saturday. The leaders are expected to meet in Alaska on Friday, Aug. 15.

In recent weeks, Trump has refused to mince words when asked about Putin. Trump said during a Cabinet meeting July 8 he was fed up with Putin and said he was eyeing potentially imposing new sanctions on Russia. 

The NATO chief called the upcoming meeting ‘an important step’ in the process of reaching full-scale peace negotiations between Russia and Ukraine.

Ukrainian President Volodymyr Zelenskyy, however, wasn’t expected to be at the summit with Trump and Putin as of Sunday. Despite Zelenskyy’s absence, Rutte said ‘we need Ukraine at the table.’

‘It will be about territory,’ Rutte said of the upcoming meeting. ‘It will, of course, be about security guarantees, but also about the absolute need to acknowledge that Ukraine decides on its own future, that Ukraine has to be a sovereign nation deciding on its geopolitical future, of course having no limitations to its own military troop levels, and for NATO to have no limitations on our presence on the eastern flank in countries like Latvia, Estonia and Finland.’

U.S. Ambassador to NATO Matthew Whitaker told CNN on Sunday that no decision had been made at this point about whether Zelenskyy would be invited to the meeting.

‘If [Trump] thinks that that is the best scenario to invite Zelenskyy, then he’ll do that,’ Whitaker said, adding that ‘there’s time to make that decision.’

When asked about whether Putin can be trusted, Whitaker said that in any situation of competing national interests it will be actions, not words, that decide whether peace is achieved and preserved.

‘Words are cheap, but in this case, whether it’s the Russians or the Ukrainians, both sides are going to have to take the actions to have peace and to continue to honor that peace,’ he said.

Fox News Digital’s Diana Stancy contributed to this report.

This post appeared first on FOX NEWS

Ukrainian President Volodymyr Zelenskyy on Sunday thanked European leaders for backing his push to join this week’s U.S.–Russia summit, as Kyiv fears Washington and Moscow could strike a deal to end the war but in a way that undermines Ukraine’s sovereignty.

‘The end of the war must be fair, and I am grateful to everyone who stands with Ukraine and our people today for the sake of peace in Ukraine, which is defending the vital security interests of our European nations,’ Zelenskyy said.

The leaders of Britain, France, Germany, Italy, Poland, Finland and the European Commission said in a joint statement that any diplomatic solution brokered between President Donald Trump and Russian President Vladimir Putin must protect the security interests of Ukraine and Europe.

‘The U.S. has the power to force Russia to negotiate seriously,’ EU foreign policy chief Kaja Kallas told Reuters on Sunday. ‘Any deal between the U.S. and Russia must have Ukraine and the EU included, for it is a matter of Ukraine’s and the whole of Europe’s security,’ she added.

NATO Secretary General Mark Rutte said the upcoming summit ‘will be about testing Putin’ and will serve as a measure of how serious the Russian leader is about ‘bringing this terrible war to an end.’

Both the White House and the Kremlin have acknowledged Zelenskyy’s request to join the talks, though no formal invitation has been issued. Trump and Putin are scheduled to meet in Alaska on Aug. 15. If Zelenskyy were to take part, the meeting would mark the first between Putin and Zelenskyy since the start of Moscow’s war.

The meeting, which Trump announced in a Truth Social post on Friday, comes on the heels of Washington’s threats to impose steep tariffs on the Kremlin and its allies.

Trump has previously singled out countries like India and China—top buyers of discounted Russian crude — for undermining G7 price caps and weakening the impact of Western sanctions.

In response, bipartisan lawmakers introduced the Sanctioning Russia Act, which would impose a 500% tariff targeting the core of Russia’s economy — its oil and gas exports — if Moscow continues to resist peace efforts or escalates the conflict.

Meanwhile, a senior member of Putin’s inner circle warned that multiple countries are mounting ‘titanic efforts’ to undermine the upcoming summit between the Russian leader and Trump.

‘Undoubtedly, a number of countries interested in continuing the conflict will make titanic efforts to disrupt the planned meeting between President Putin and President Trump,’ wrote Russia’s investment envoy, Kirill Dmitriev, in a Telegram post on Saturday, referencing the Kremlin’s ongoing war in Ukraine.

While Dmitriev did not name specific countries, he warned that critics of the upcoming talks could seek to sabotage the summit through diplomatic maneuvers or disinformation through the media.

This post appeared first on FOX NEWS

President Donald Trump is weighing whether to deploy up to 1,000 National Guard troops to Washington, D.C., as early as this week, Fox News has learned, in an effort to help deal with what he characterized as a surge in violent crime. 

The plans come just one day after Trump vowed on Truth Social to evict homeless persons from that nation’s capital. ‘The Homeless have to move out, IMMEDIATELY,’ Trump said on social media. ‘We will give you places to stay, but FAR from the Capital. The Criminals, you don’t have to move out. We’re going to put you in jail where you belong.’

Trump’s plans, which are expected to be detailed further at a 10 a.m. press conference Monday, would likely involve members of the D.C. National Guard, or the 2,700-member National Guard force that acts at the express authority of the commander in chief.

Unlike other branches, Trump would not have to get the sign off of local authorities to act — likely making their activation a tempting option.

When speaking to reporters in the Oval Office last week, Trump railed against what he described as a ‘ridiculous’ level of crime in the nation’s capital, buffeted most recently by the assault on a former DOGE staffer earlier this month.

‘We want to have a great, safe capital,’ Trump said last week. ‘And we’re going to have it.’

Trump also told reporters that his White House lawyers are looking into ending the Home Rule Act, a law passed by Congress in 1973 that gave Washington, D.C., residents the right to elect their own mayor and local representatives. 

White House press secretary Karoline Leavitt also told reporters last week that Trump had ordered law enforcement personnel to increase their presence in the capital, though the additional details on the scope and timeframe of that presence remain unclear. 

Trump is expected to address those plans in a press conference Monday morning. 

However, for Trump, delivering on this promise could be fraught with long-term legal complications — in part, because crime in the city is actually down to its lowest point in nearly 30 years.

Violent crime in the first seven months of 2025 has dropped by roughly 26% compared to 2024, according to data compiled by the D.C. Police Department and released earlier this month. Overall, crime in the nation’s capital has dropped by roughly 7%.

On Sunday, White House deputy chief of staff Stephen Miller said in an interview with NewsNation that Washington, D.C., ‘is more violent than Baghdad.’ 

Washington, D.C., Mayor Muriel Bowser, for her part, told MSNBC in an interview Sunday that ‘Any comparison to a war-torn country is hyperbolic and false.’

However, it’s not the first time Trump has sought to crack down on crime in the nation’s capital — an effort he has returned to frequently, including during his first term in office.

Trump in March signed an executive order, ‘Making DC Safe and Beautiful Task Force,’ designed to address issues with a city he has long derided as ‘filthy,’ ‘horribly run’ and ‘crime-ridden,’ among other things. ‘We want to have a great, safe capital,’ he told reporters. ‘And we’re going to have it. And that includes cleanliness and it includes other things.’

However, those powers aren’t indefinite, experts explained to Fox News Digital.

Trump does have the authority to activate the 2,700-member D.C. National Guard without the approval of local officials. Guard troops provide ‘mission-ready personnel and units for active duty in the armed services’ in Washington, D.C., according to their website.

Beyond that, Trump’s ability to exercise authority in the nation’s capital is bound by the Home Rule Act. 

In the more than 50 years since that law was passed, ‘there really hasn’t been a serious conversation about ending home rule governance,’ George Derek Musgrove, a history professor at the University of Maryland in Baltimore County, told Fox News in an interview.

‘And the problem with our federal system is that there are places where Trump really doesn’t have any supporters, and therefore, with the limits of executive power, really doesn’t have that much sway,’ Musgrove said. ‘And he’s constantly probing for ways around that.’

Other options available to Trump aren’t without their own limits. In order to call up the local police force for any meaningful length of time, as Trump has suggested, a president must be able to assert ‘special conditions of an emergency nature,’ according to the 1970s law.

‘If D.C. doesn’t get its act together, and quickly, we will have no choice but to take federal control,’ Trump said last week. 

However, that’s easier said than done, individuals familiar with the law told Fox News Digital.

‘DC is just a tempting target because there’s not even a lot of legal gymnastics you have to do in order to exert tremendous power [in a city with ]a 90% Democratic jurisdiction. He has it already,’ Musgrove said.

‘But it is morally questionable, I think, and violates democratic principles,’ he added.

This post appeared first on FOX NEWS

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, is pleased to announce that it will participate in a Fireside Chat at Canaccord Genuity’s 45th Annual Growth Conference in Boston, MA, on August 12, 2025, at 9:30 a.m. EDT.

A live webcast of the Fireside Chat will be accessible under ‘Events & Presentations’ in the Investors section of the Cardiol website (www.cardiolrx.com/investors/events-presentations/). The replay will be available for 90 days following the conference.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.

Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration (‘US FDA’) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the completed Phase II MAvERIC-Pilot study (NCT05494788) and the ongoing Phase III MAVERIC trial (NCT06708299). The completed ARCHER trial (NCT05180240) is a Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure—a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com.

Cautionary statement regarding forward-looking information:

This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward-looking information contained herein may include, but is not limited to statements regarding the Company’s focus on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, the Company’s intended clinical studies and trial activities and timelines associated with such activities, including the Company’s plan to complete the Phase III study in recurrent pericarditis with CardiolRx, and the Company’s plan to advance the development of CRD-38, a novel subcutaneous formulation of cannabidiol intended for use in heart failure. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form filed with the Canadian securities administrators and U.S. Securities and Exchange Commission on March 31, 2025, available on SEDAR+ at sedarplus.ca and EDGAR at sec.gov, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements.

For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261960

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

This week saw tech stocks push the Nasdaq Composite (INDEXNASDAQ:.IXIC) to its best week since June.

However, on Monday (August 4), multiple news outlets reported that various Wall Street firms were warning of a near-term drop in the S&P 500 (INDEXSP:.INX) after its strong rally. In a note to clients, Mike Wilson of Morgan Stanley (NYSE:MS) forecasts that tariffs, which went into effect this week, will lead to a 10 percent correction.

“Over the last couple of weeks, we have noted that investors should expect a modest pullback in the third quarter,” Wilson wrote. Julian Emanuel of Evercore (NYSE:EVR) anticipates a 15 percent drop. Additionally, Parag Thatte’s team at Deutsche Bank (NYSE:DB) points to an overdue drawdown following three months of equity expansion.

Markets appear to have disregarded the warnings, as economic data released this week has revived expectations for interest rate cuts. Stephen Miran, US President Donald Trump’s interim selection for Adriana Kugler’s position as chair of the Council of Economic Advisers, has further fueled these expectations. According to CME Group’s (NASDAQ:CME) Fedwatch tool, traders now anticipate a nearly 90 percent probability of a rate cut next month.

Furthermore, exemptions to the Trump administration’s tariffs for companies investing in US manufacturing capacity led to a midweek rally in tech stocks that persisted through to Friday (August 8).

1. OpenAI’s busy week

On Wednesday (August 6), OpenAI unveiled the long-awaited GPT-5 version of ChatGPT, which CEO Sam Altman described as a “significant step” along the path to artificial general intelligence (AGI).

Altman declared that GPT-5 gives users PhD-level expert assistance on any subject, with fewer hallucinations, as well as superior coding abilities that could lead to an era of “software on demand.’

“Something like GPT-5 would be pretty much unimaginable in any other time in history,” he said during a pre-briefing with journalists on Wednesday. While GPT-5 exhibits signs of broad intelligence, Altman clarified that it lacks a key characteristic of AGI: the ability to learn and improve autonomously.

Concurrently, OpenAI for Government announced it is partnering with the US General Services Administration to offer ChatGPT Enterprise to the federal executive branch workforce for US$1 per agency for the next year.

In a statement to Wired, Altman said the agreement was part of Trump’s Artificial Intelligence (AI) Action Plan, which is geared at leveraging AI to better serve the American people.

Additionally, the company reportedly engaged in early discussions this week for a secondary stock sale that would increase its valuation to US$500 billion. During an interview with Schwab Network, Ben Emons, chief investment officer and founder of FedWatch Advisors, said OpenAI’s valuation could hit US$1 trillion.

A recent report by the Information found that OpenAI has hit an annualized run rate of US$12 billion, roughly double the US$6 billion recorded in revenue in the first half of 2025.

OpenAI also introduced a pair of freely available models this week, which Amazon (NASDAQ:AMZN) will offer to cloud-computing clients.

2. Stocks react to chip tariff exemptions

Trump announced plans to impose a nearly 100 percent tariff on semiconductor chips on Wednesday, but carved out an exemption for companies investing in US manufacturing capacity.

After a meeting at the White House, Apple (NASDAQ:AAPL) CEO Tim Cook pledged an additional US$100 billion investment in US manufacturing capacity, bringing its total commitment to US$600 billion over the next four years.

However, final assembly is expected to remain overseas “for a while,” according to Cook, and the announcement did not include any mention of future iPhone assembly in the US.

Apple performance, August 5 to 8, 2025.

Chart via Google Finance.

The pledge led to a significant market reaction, with Apple shares climbing over 4 percent, leading gains on Wall Street.

Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also saw strong gains after it was reported that National Development Council Chief Liu Chin-ching told parliament that the company will be exempt since it has factories in the US, referring to fabrication plants currently under construction in Arizona.

However, he added that some of Taiwan’s chipmakers will be affected.

Likewise, South Korean trade officials stated that Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) will both avoid the tariffs due to their investments in US manufacturing facilities. Samsung has two chip fabrication plants in Texas, while SK Hynix is building a new advanced chip packaging and R&D facility in Indiana.

3. Firefly Aerospace makes explosive Nasdaq debut

Firefly Aerospace (NASDAQ:FLY) made a strong debut on the Nasdaq Global Market on Thursday (August 7).

The stock opened at US$70 per share, a significant jump from its initial public offering price of US$45.

After first targeting between US$35 and US$39 per share, the company raised the price from US$41 to US$43 on Tuesday (August 5). Firefly was valued at over US$2 billion after a Series D funding round in November 2024.

Its opening price represented a further increase. After briefly topping US$73.80, the company closed its first day on the market at US$60.35, raising US$868.3 million and achieving a valuation of approximately US$8.5 billion.

The company experienced a moderate pullback on Friday, opening at US$54.85 before briefly touching US$57.07; it then closed the week at US$50.17.

4. Tesla desbands Dojo team

Tesla (NASDAQ:TSLA) CEO Elon Musk confirmed reports that the company is disbanding its Dojo supercomputer team, posting to X on Thursday evening:

“It doesn’t make sense for Tesla to divide its resources and scale two quite different AI chip designs.

“The Tesla AI5, AI6 and subsequent chips will be excellent for inference and at least pretty good for training. All effort is focused on that.”

Tesla intended for Dojo to facilitate the training of its Autopilot and Full Self-Driving systems.

Sources for Bloomberg, which first reported the story, said Tesla will rely on partners like NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Samsung for chip manufacturing.

This move contradicts Musk’s commitments to “double down on Dojo” during his company’s second quarter earnings call on July 23. The development follows a letter sent to shareholders by two Tesla directors on Monday explaining the board’s decision to grant Musk a US$23.7 billion stock award.

Robyn Denholm, chair of Tesla’s board of directors, and Kathleen Wilson-Thompson, a director, said the decision was driven by Tesla’s transition from electric vehicles to AI and robotics.

The letter emphasizes the critical need to motivate Musk, stating that his involvement is essential for attracting and retaining talent at Tesla, especially as competition for AI talent intensifies.

5. Palantir reports solid growth in Q2

Major software company Palantir Technologies (NASDAQ:PLTR) reported its Q2 earnings on Monday, revealing revenue growth of 48 percent to US$1.003 billion. Shares of the company opened over 7 percent higher on Tuesday and continued to rise, finishing the week up nearly 18 percent.

Palantir Technologies performance, August 5 to 8, 2025.

Chart via Google Finance.

“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,’ said Alex C. Karp, co-founder and CEO of Palantir, in a press release. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50 percent year-over-year growth.”

Free cashflow rose by 282 percent to US$568.7 million. The company is projecting further revenue growth of around 49 percent in the third quarter. Its share price is up over 145 percent year-to-date after starting the year at US$76.20. As of Friday’s closing bell, shares of Palantir were trading for US$186.96.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,454, down by 0.8 percent over the last 24 hours. Its lowest valuation on Friday was US$115,979, while its highest valuation was US$117,038.

Bitcoin price performance, August 8, 2025.

Chart via TradingView.

An executive order from the Trump administration about the addition of cryptocurrency investment options to federally regulated 401(k) retirement plans could trigger an influx of new capital and drive up Bitcoin’s price.

Separately, over US$1 billion in Bitcoin call options are set to activate if Bitcoin hits US$200,000 on December 26, when US$8.8 billion in options are set to expire; however, experts believe the presence of these call options reflects strategic positioning rather than a widespread belief in a year-end surge to that level. Cointelegraph analyst Marcel Pechman notes that pro traders are using far-out-of-the-money calls in structured strategies like diagonal spreads and inverse butterflies to manage risk and seek asymmetric upside, not as direct bets on extreme price targets.

Ethereum (ETH) was priced at US$4,053, up by 4.9 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$3,910 at the start of trading.

Altcoin price update

  • Solana (SOL) was priced at US$178.05, up by 3.8 percent over 24 hours. Its lowest valuation on Friday was US$174.86, and its highest was US$179.36.
  • XRP was trading for US$3.30, up by 6.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.22, and its highest price was US$3.35.
  • Sui (SUI) was trading at US$3.85, up 3.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.73, and its highest was US$3.86.
  • Cardano (ADA) was trading at US$0.7964, up by 4.2 percent over 24 hours. Its lowest valuation on Friday was US$0.7787, and its highest was US$0.8022.

Today’s crypto news to know

Trump order opens door for crypto and private equity in 401(k)s

US President Donald Trump has signed an executive order directing the Department of Labor to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrencies, private equity and real estate to be included in 401(k)s. While no laws have changed, the move signals a potential shift from the Biden era.

The Employee Retirement Income Security Act still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.

For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.

SEC and Ripple dismiss appeals, ending lawsuit

Ripple and the US Securities and Exchange Commission (SEC) have dismissed their respective appeals, effectively ending a five-year lawsuit, as per a brief filing on Thursday (August 7) with the Court of Appeals for the Second Circuit.

“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote on X.

The SEC sued Ripple in 2020 for selling XRP as an unregistered security. A July 2023 ruling by Judge Analisa Torres found XRP was not a security when sold on public exchanges, but was when sold to institutional investors.

The SEC appealed, and Ripple cross appealed. However, this past April, both parties filed a joint motion to pause their appeals, hinting at a settlement. They settled in May, asking Torres to dissolve the injunction and lower the US$125 million fine. She denied that in June, stating that Ripple must still follow federal securities laws.

Following the announcement, open interest in XRP grew by over 15 percent in 24 hours and futures volumes rose by over 233 percent, according to Coinglass data.

Parataxis to go public via SPAC merger

Bitcoin asset manager Parataxis announced its plan to go public by merging with a special purpose acquisition company (SPAC) called SilverBox Corp. IV on Wednesday (August 6).

The deal aims to raise up to US$640 million to “support acceleration of digital asset purchases and support long-term strategy.’ It implies a total pro forma equity value of up to US$800 million for the combined company, assuming the US$10 share price and no redemptions. The new public company will be named Parataxis Holdings and will trade on the New York Stock Exchange under the ticker symbol “PRTX.”

The company’s goal is to launch a yield-enhanced Bitcoin treasury strategy in the US and South Korea. The deal also includes an equity line of credit to raise additional funds. This will allow it to continue accumulating Bitcoin.

The company has already allocated US$31 million for an initial Bitcoin purchase.

Fundamental Global files to raise funds for ETH accumulation

Fundamental Global (NASDAQ:FGF), a new Ethereum treasury vehicle, has filed to raise US$5 billion, signaling the potential emergence of a new mega whale in the Ethereum market.

According to a Friday press release, the company aims to use the majority of the proceeds from a potential US$4 billion common stock offering to acquire a 10 percent stake in the Ethereum network.

“This US$5 billion shelf filing represents a significant step in our capital raising capabilities and positions us to move with speed and scale when capital deployment opportunities arise,” said CEO and Chairman Kyle Cerminara.

“We believe this framework will enable us to capitalize on ETH accumulation opportunities and support our target of a 10 percent stake in the Ethereum Network,’ he added.

Binance partners with Spain’s BBVA to bolster asset security

Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.

The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti-money laundering failures. With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency or further regulatory action.

The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto. The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

President Donald Trump said Saturday he was nominating U.S. State Department spokeswoman Tammy Bruce to become the next deputy representative to the United Nations. 

‘I am pleased to announce that I am nominating Tammy Bruce, a Great Patriot, Television Personality, and Bestselling Author, as our next Deputy Representative of the United States to the United Nations, with the rank of Ambassador,’ the president wrote on social media.

‘Since the beginning of my Second Term, Tammy has been serving with distinction as Spokesperson of the State Department, where she did a fantastic job. Tammy Bruce will represent our Country brilliantly at the United Nations. Congratulations Tammy!’

Bruce has defended the Trump administration’s immigration policies and its position on the wars in Ukraine and Gaza. 

Last week, she warned Russia on Fox News that it needs to take Trump ‘seriously’ on his deadline for a ceasefire. 

Bruce has been with the administration since Trump took office. 

Before Trump tapped her as State Department spokesperson, she was a longtime conservative commentator and contributor to Fox News. 

When Trump chose her for the State Department, he described her as a ‘highly respected political analyst who understood the power and importance of ‘MAGA’ early on.’

‘As one of the longest-serving News Contributors, Tammy has brought TRUTH to the American People for over two decades,’ Trump added. ‘I know she will bring that same strength of conviction and fearless spirit to her new position as State Department Spokesperson.’ 

Dorothy Shea, who served as deputy ambassador last year, is the current acting ambassador. 

Trump’s nominee for U.N. ambassador, Mike Waltz, is still awaiting confirmation.

This post appeared first on FOX NEWS

FBI Director Kash Patel took to social media on Saturday to celebrate the bureau’s successes in the first 200 days of the Trump administration. 

‘200 Days of Trump Admin, From Jan 20 to Present: FBI has arrested over 1,600 people for violent crimes against children, to include 270 arrests for human trafficking,’ Patel wrote on his official X account.

Patel added that 1,500 kilos of fentanyl – ‘enough lethal doses to kill 113,850,000 Americans’ – has also been seized in that time, which he said was a 25% increase from the same time last year, and the ‘most ever.’

He added, ‘We look forward to working with our @SecDef and DoD partners to getting after it even more, thanks @realDonaldTrump for the new authorities.’ 

In a third post, Patel said the FBI had identified and located 4,000 child victims. 

‘FBI investigations targeting Foreign Terrorist Organizations has resulted in 1,000 arrests of those wanting to harm our nation. Seized 6,300 Kilos of methamphetamines = lives saved,’ he wrote, adding the hashtag ‘#SummerHeat.’

The White House also posted an article on X on Saturday, touting ‘200 Days of American Renewal,’ including ‘historic border security to infrastructure revitalization.’ 

Deputy FBI Director Dan Bongino, who had considered resigning over the administration’s handling of the Epstein files earlier this summer, according to a source, reposted Patel’s post, writing, ‘This isn’t even the beginning of the beginning. More coming.’ 

Many in MAGA world have also been frustrated with the lack of transparency over the Epstein files. 

The U.S. Department of Justice has denied the existence of an Epstein client list, and President Trump defended Attorney General Pam Bondi last month, saying ‘she’s really done a very good job.’ 

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