Technology
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Technology
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Dems rail against corruption after Trump financial reveal |
Democrats are accusing President Trump of improperly profiting from his and his family’s cryptocurrency ventures after he reported more than $1 billion in income tied to the industry.
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In his annual financial disclosure released Tuesday, Trump revealed about $594 million in income from World Liberty Financial, the crypto business he launched with his sons in fall 2024, and another $635 million that appears to be linked to the president’s meme coin.
“Trump made $1+ billion from his crypto ventures while in office,” Rep. Jason Crow (D-Colo.) wrote in a social media post Wednesday.
“Today he’s taking his first flight on his illegal $400 million gift from a foreign government,” he added, referring to the new jet gifted to the president by Qatar. “This grift and corruption is staggering. Accountability is coming.”
Sen. Adam Schiff (D-Calif.) suggested that Trump has made more money in the first year of his presidency “than in the rest of his life combined,” with The New York Times reporting he raked in a total of $2.2 billion last year.
Trump has repeatedly faced scrutiny in his second term, as he and his family have become increasingly involved in the crypto industry.
His administration has taken a more industry-friendly approach toward regulating digital assets, rolling back investigations and dismissing cases against crypto companies. Trump also signed the first major crypto legislation, known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, into law last year.
Read more in a full report at TheHill.com
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Welcome to The Hill’s Technology newsletter, we’re Julia Shapero and Miranda Nazzaro — tracking the latest moves from Capitol Hill to Silicon Valley.
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How policy will be impacting the tech sector now and in the future:
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Trump administration lifts limits on Anthropic’s new AI models
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The Trump administration lifted Tuesday the restrictions placed on Anthropic’s new Fable and Mythos models, restoring access just over two weeks since the export controls on the artificial intelligence models were put in place. Commerce Secretary Howard Lutnick announced the decision on X, writing the agency has “worked closely with Anthropic to analyze and approve Fable 5 to ensure alignment across …
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More than half of Americans support banning social media for youth: Survey
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A new survey from the Pew Research Center shows that more than half of Americans support a ban on social media for those under the age of 16. Survey results published Wednesday show 56 percent of American respondents said they support such a ban for adolescents, 21 percent opposed it and 23 percent were unsure. U.S. adults between the ages of 30 and 49 were the demographic most likely to support a ban, with 63 percent of those …
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What to know about Trump’s financial disclosure
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President Trump’s financial disclosure report for last year reveals he brought in more than $2 billion via various channels. The report, released by the U.S. Office of Government Ethics on Tuesday, shows Trump received hundreds of millions from crypto venture World Liberty Financial (WLF), which he and his sons helped launch in 2024. The president also raked in more than $600 million in royalties from meme coin …
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Concerns rise over rise of near collisions between planes, drones
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(NewsNation) — Concerns about aviation safety have grown after two close calls between drones and airplanes have been recently reported. On Monday, a JetBlue pilot reported striking a drone when landing the plane at JFK International Airport in New York. Days before, a United Airlines pilot said he narrowly missed a drone when at Newark Liberty International Airport, according to Travel and Tour World. Federal Aviation Administration …
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News we’ve flagged from the intersection of tech and other topics:
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- Palantir's Alex Karp bashes OpenAI, Anthropic token model (CNBC)
- FTC says AI bias safeguards may run afoul of consumer law (Reuters)
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Branch out with other reads on The Hill:
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Fed’s Warsh downplays inflation fears, offers no hint on upcoming rate decision
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Federal Reserve Chair Kevin Warsh early Wednesday addressed concerns about rising inflation, suggesting the numbers are declining. “Inflation risks have come down,” Warsh said during a panel with other central bankers at a conference in Portugal, adding that energy rates have dropped “quite substantially” since the U.S. and Iran signed a framework agreement last month. “They’re still down a bit above where they were preconflict, …
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Opinions related to tech submitted to The Hill:
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You’re all caught up. See you tomorrow!
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