President's family wealth leaps as trading starts on Trump cryptocurrency

President's family wealth leaps as trading starts on Trump cryptocurrency

WASHINGTON − A cryptocurrency token issued by the Trump family'sWorld Liberty Financialhad a lukewarm opening on Sept. 1 with its value declining on the first day of trading. Still, the president and his family may have amassed as much as $5 billion on paper from the offering, according to one analysis. The venture is backed by the Trumps and lists PresidentDonald Trumpas a "co-founder emeritus," The World Liberty tokens, known as $WLFI, were sold to investors last October. After Trump took office in January, his administration moved to ease regulation of the cryptocurrency industry. Investors in the tokens voted in July to make them tradable, paving the way for their sale and purchase − and potentially boosting the value of the president's holdings. Monday's launch was something like an initial public offering, enabling holders of the token to trade them like stocks or other financial instruments. World Liberty Financial lists Trump's three sons, Donald Jr., Eric and 19-year-old Barron as co-founders. Trump's diplomatic envoy,Steve Witkoff, like Trump, is listed as a "co-founder emeritus" while his sons, Zach and Alex, are listed as co-founders. The tokens are now being offered on some of the world's largest cryptocurrency exchanges. On Binance, the first cryptocurrency exchange to list $WLFI, the token traded between about 30 cents and 20 cents each. At the higher price, the Trumps' stake is worth more than $5 billion, according to theWall Street Journal. World Liberty, which aims to allow people to access financial services without intermediaries like banks, said in March that it had raised$550 million selling$WLFI. While campaigning for president in 2024, Trump said he would be a "crypto president" promoting crypto-friendly polices in contrast to his predecessor, former PresidentJoe Biden. He has said he'd make the U.S. the "crypto capital of the planet." CRYPTO:How much money did Trump make in first 100 days? Crypto deals raise questions In July, Trump signed alandmark legislationpackage, known as the GENIUS Act, which creates a regulatory framework for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar. World Liberty has a stablecoin called USD1. In May,Trump hosted a dinner at his Virginia golf clubfor 220 investors who invested an estimated $148 million on the $TRUMP meme coin, with the top 25 holders being granted a private VIP reception with Trump. The move drewcriticism from Democratic lawmakersand others about its ethical implications. Contributing: Reuters Swapna Venugopal Ramaswamy is a White House Correspondent for USA TODAY.You can follow her on X @SwapnaVenugopal This article originally appeared on USA TODAY:Trump family's crypto windfall could hit $5 billion

byAlpha World

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September 02, 2025

President's family wealth leaps as trading starts on Trump cryptocurrency

President's family wealth leaps as trading starts on Trump cryptocurrency WASHINGTON − A cryptocurrency token issued by the Trump family...

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Pentagon authorizes up to 600 military lawyers to serve as temporary immigration judges

Pentagon authorizes up to 600 military lawyers to serve as temporary immigration judges

WASHINGTON (AP) — Defense SecretaryPete Hegsethhas approved sending up to 600 military lawyers to the Justice Department to serve as temporary immigration judges, according to a memo reviewed by The Associated Press. The military will begin sending groups of 150 attorneys — both military and civilians — to the Justice Department "as soon as practicable," and the military services should have the first round of people identified by next week, according to the Aug. 27 memo. The effort comes as the Trump administration iscracking down on illegal immigrationby ramping up arrests anddeportations. And immigration courts already are dealing with a massive backlog of roughly 3.5 million cases that has ballooned in recent years. At the same time, more than 100immigration judges have been fired or left voluntarilyafter taking deferred resignations offered by the Trump administration, their union says. In the most recent round of terminations, the International Federation of Professional and Technical Engineers said in July that at least 17 immigration judges had been fired "without cause" in courts across the country. That has left about 600 immigration judges, union figures show, meaning the Pentagon move would double their ranks. The Justice Department, which oversees the immigration courts, requested the assistance from the Defense Department, according to the memo sent by the Pentagon's executive secretary to his DOJ counterpart. The military lawyers' duties as immigration judges will initially last no more than 179 days but can be renewed, it said. A DOJ spokesperson referred questions about the plan to theDefense Department, where officials directed questions to theWhite House. A White House official said Tuesday that the administration is looking at a variety of options to help resolve the significant backlog ofimmigrationcases, including hiring additionalimmigration judges. The official said the matter should be "a priority that everyone — including those waiting for adjudication — can rally around." The memo stressed that the additional attorneys are contingent on availability and that mobilizing reserve officers may be necessary. Plus, the document said DOJ would be responsible for ensuring that anyone sent from the Pentagon doesnot violate the federal prohibitionon using the military as domestic law enforcement, known as thePosse Comitatus Act. The administration faced a setback on its efforts to use the military in unique ways to combat illegal immigration and crime, with a court ruling Tuesday that it"willfully" violated federal lawby sendingNational Guard troopsto Los Angeles in early June. Cases in immigration court can take years to weave their way to a final determination, with judges and lawyers frequently scheduling final hearings on the merits of a case over a year out. ___ Associated Press writers Will Weissert, Rebecca Santana and Eric Tucker contributed to this report.

byAlpha World

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September 02, 2025

Pentagon authorizes up to 600 military lawyers to serve as temporary immigration judges

Pentagon authorizes up to 600 military lawyers to serve as temporary immigration judges WASHINGTON (AP) — Defense SecretaryPete Hegsethhas a...

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Lee Corso's farewell drives record 'College GameDay' ratings

Lee Corso's farewell drives record 'College GameDay' ratings

Lee Corso's farewell to "College GameDay" was the most-watched episode of the ESPN Saturday morning staple in its nearly 40-year history. ESPN averaged 3.5 million viewers during the show on Saturday, preliminary Nielsen ratings show. It was broadcast from Columbus, Ohio, before the season opener between No. 1 Texas and No. 3 Ohio State. The Buckeyes won 14-7. The show also aired on ESPNU. ESPN reported that the ratings for the final 15 minutes of the show reached a record 5.1 million viewers. That's the section of the show during which Corso famously made his prediction -- who would win the game to be played in the city from which "GameDay" was airing -- by putting on headgear representing his predicted victor. His final headgear choice was the first as the same one when the tradition began in 1996: the Buckeyes. For the record, it was the 46th time he put on the Ohio State mascot head, and the Buckeyes were 32-14. Corso, 90, spent 15 seasons as a college head coach at Louisville, Indiana and Northern Illinois before joining "College GameDay" in its first season in 1987. The show heads to Norman, Okla., ahead of the game between Michigan and Oklahoma, on Saturday for its first episode without Corso as a member of the team. --Field Level Media

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September 02, 2025

Lee Corso's farewell drives record 'College GameDay' ratings

Lee Corso's farewell drives record 'College GameDay' ratings Lee Corso's farewell to "College GameDay" was the mos...

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Basketball Hall of Famer George Raveling, who influenced Michael Jordan's Nike deal, dies at 88

Basketball Hall of Famer George Raveling, who influenced Michael Jordan's Nike deal, dies at 88

George Raveling, a Hall of Fame basketball coach who played a role in Michael Jordan signing a landmark endorsement deal with Nike, has died. He was 88. Raveling's family said Tuesdayin a statementthat he had "faced cancer with courage and grace." "There are no words to fully capture what George meant to his family, friends, colleagues, former players, and assistants — and to the world," the family statement read. "He will be profoundly missed, yet his aura, energy, divine presence, and timeless wisdom live on in all those he touched and transformed." Raveling, who was inducted into the Naismith Memorial Basketball Hall of Fame in 2015, had a career record of 335-293 from 1972-94 at Washington State, Iowa and Southern California. He had a losing record in his first season at each school before making multiple trips to the NCAA Tournament. His success at those programs landed Raveling on the U.S. Olympic basketball staffs in 1984 and 1988. Jordan was on the 1984 team that won gold at the Olympic Games in Los Angeles, and Raveling helped convince him to sign with Nike. He introduced Jordan to Sonny Vaccaro at Nike, which helped lead to a contract that gave Jordan his own brand, made him millions of dollars and changed the athletic apparel industry. Marlon Wayans portrayed Raveling in the 2023 movie "Air" that focused on Nike's courtship of Jordan. "For more than 40 years, he blessed my life with wisdom, encouragement, and friendship," Jordan said in a statement. "He was a mentor in every sense and I'll always carry deep gratitude for his guidance. I signed with Nike because of George, and without him, there would be no Air Jordan." Raveling also owned the original copy of the "I Have a Dream" speed by Martin Luther King Jr. He was working security at the 1963 March on Washington in which King delivered one of the most famous speeches in American history. As King was exiting, Raveling saw him and asked if he could have the speech, and the reverend handed it to him. Raveling held on to the copy until 2021, when he donated it to his alma mater, Villanova. He played at Villanova from 1957-60, averaged 12.3 points and 14.6 rebounds over his last two seasons. The Philadelphia Warriors drafted Raveling in the eighth round in 1960, but he didn't play in the NBA. "The finest human being, inspiring mentor, most loyal alum and a thoughtful loving friend," Jay Wright, who coached Villanova to national championships in 2016 and 2018,posted on X. "Coach Raveling lived his life for others, His heart was restless and kind and now rests In the lord!" Current Villanova coach Kevin Willard said in a statement that he has "long appreciated the enormous impact Coach has made not just on our game, but on so many of us in it. I know Villanova held a special place in his heart and we are forever grateful for his contributions to this program." Raveling was involved in a serious car crash while coaching USC in 1994, breaking nine ribs, his collarbone and pelvis. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign uphere. AP college basketball:https://apnews.com/hub/ap-top-25-college-basketball-pollandhttps://apnews.com/hub/college-basketball

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September 02, 2025

Basketball Hall of Famer George Raveling, who influenced Michael Jordan's Nike deal, dies at 88

Basketball Hall of Famer George Raveling, who influenced Michael Jordan's Nike deal, dies at 88 George Raveling, a Hall of Fame basketba...

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Trump will announce Space Command is moving from Colorado to Alabama

Trump will announce Space Command is moving from Colorado to Alabama

WASHINGTON (AP) — PresidentDonald Trump's administration will announce on Tuesday that U.S. Space Command will be located in Alabama, reversinga Biden-era decisionto keep it at its temporary headquarters in Colorado, according to two people familiar with the announcement. Trump is expected to speak Tuesday afternoon, and he will give the new location, according to the people, who spoke on the condition of anonymity to confirm the plans ahead of the official announcement. A Pentagon website set up to livestream the remarks describes the event as a "U.S. Space Command HQ Announcement." "The president will be making an exciting announcement related to the Department of Defense," White House press secretary Karoline Leavitt said. Space Command's functions include conducting operations like enabling satellite-based navigation and troop communication and providing warning of missile launches. Alabama and Colorado havelong battled to claim Space Commandbecause it has significant implications for the local economy. The site also has been a political prize, with elected officials from both Alabama and Colorado asserting their state is the better location. Huntsville, Alabama, nicknamedRocket City, has long been home to the Army's Redstone Arsenal and NASA's Marshall Space Flight Center. The Army's Space and Missile Defense Command is also located in Huntsville, which drew its nickname because of its role in building the first rockets for the U.S. space program. The announcement caps a four-year back-and-forth on the location of Space Command. The Air Force in 2021 identified Army Redstone Arsenal in Huntsville asthe preferred locationfor the new U.S. Space Command. The city was picked after site visits to six states that compared factors such as infrastructure capacity, community support and costs to the Defense Department. Then-President Joe Biden in 2023 announced Space Command would bepermanently locatedin Colorado Springs, Colorado, which had been serving as its temporary headquarters. Biden's Democratic administration said that keeping the command in Colorado Springs would avoid a disruption in readiness. A reviewby the Defense Department inspector general was inconclusive and could not determine why Colorado was chosen over Alabama. Trump, a Republican who enjoys deep support in Alabama, had long been expected to move Space Command back to Alabama.

byAlpha World

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September 02, 2025

Trump will announce Space Command is moving from Colorado to Alabama

Trump will announce Space Command is moving from Colorado to Alabama WASHINGTON (AP) — PresidentDonald Trump's administration will annou...

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