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Democrats think President Biden can get a boost from the House GOP, just as his party’s past presidents saw their political fortunes rise by virtue of battling a Republican Congress.  

Both former Presidents Clinton and Obama won reelection after losing their party’s House majorities to the GOP in 1994 and 2010. 

Now the White House is hoping Biden can follow that pattern, and they see an unwilling partner in the House GOP led by Speaker Kevin McCarthy (R-Calif.), who won the post after a historic 15th ballot that laid his conference’s divisions out for all to see. 

“If they’re collapsing and fighting and can’t get anything done, it speaks for itself,” said Ed Rendell, a former Pennsylvania governor and longtime Biden ally.  

Rendell also argued that some of the positions taken by House Republicans, especially if they lead to a government shutdown or the failure of Congress to raise the debt ceiling, could help Biden cast himself as the adult in Washington.  

“Americans are not extreme,” Rendell said.  

Other Democrats see the chaos of the Speaker election as contrasting well with what Biden wants to cast as his strengths: preparation, moderation, respect for tradition and a reverence for procedures.  

“It really is a perfect foil for Biden,” said Democratic strategist Eddie Vale. It “just gets better and better the more tinfoil hat conspiracy theories Jordan, Comer and Marjorie Taylor Greene spin off on,” he added, referring to GOP Reps. Jim Jordan (Ohio), James Comer (Ky.) and Greene (Ga.). 

Nayyera Haq, a former Obama aide, said Biden won in 2020 by running against former President Trump, and now he can run against the emboldened House GOP. 

“Usually being the party out of the White House means that you have a unified message against an incumbent,” she said of House Republicans. “They don’t have that right now.” 

The Speakership election tied the House GOP further to Trump in some ways.  

Initially, a group of Republicans opposed to McCarthy’s Speakership ignored Trump’s calls to back him. But by the end of the week, some of those members had supported the former president himself for House Speaker. And in the final hour, Greene was trying to connect Trump to various Republicans to get them to vote “present” and allow McCarthy to be elected Speaker.  

Biden, meanwhile, appeared at a bridge connecting Kentucky to Ohio with Senate Minority Leader Mitch McConnell (R-Ky.), highlighting his infrastructure legislation and bipartisanship. 

“They looked f—— crazy last week,” one Biden ally said, pointing to the split screen of Biden and McConnell, who stood alongside one another. “I talked to so many Republicans who said ‘What the f— are we doing? This is terrible.’”  

The Speaker fiasco also provided a new opportunity for Democrats to reinvigorate Bidenworld’s famous “do less” approach to the GOP.  

As Republicans publicly fought within their own party, liberals and moderates alike watched the display unfold, reiterating that their side is ready to start working for the public — regardless of what the other side does. 

The question going forward is whether the dysfunction that was a part of the Speaker’s vote will be a recurring theme for Republicans in the lower chamber this year. Rendell and other Democrats appear to be hoping and thinking it will be repeated. 

“It’s too early [for] this incident, their pathetic display, to be remembered if they govern in a halfway reasonable manner,” said Rendell. “But people seem to think they won’t have the ability.”  

“If in fact, as predicted, it becomes a battle between the MAGA people and the conventional Republicans to get anything done and we default on stuff, that’s a big help. Then you can make the case they can’t govern,” he added. 

One House Democrat in touch with the administration said the “chaos” showed distinctions between the parties at a critical juncture. Democrats elected Minority Leader Hakeem Jeffries (D-Calif.) unanimously as GOP members repeatedly failed to elect McCarthy. 

“We are ready to get to work and stand in stark contrast to the chaos we’ve seen from the other side,” said Rep. Ro Khanna (D-Calif.).  

Democrats’ confidence is also backed up by polling. Biden’s approval rating rose significantly after November, with voters crediting him favorably for handling issues like the economy and reproductive rights. Typically hovering in the low to mid 40s last year, and even dipping into the 30s, he’s now earning 46 and 47 approval percent in several surveys collected by Real Clear Politics. 

He’s also ramped up his travel schedule to promote accomplishments like his infrastructure bill, and aides and allies are privately preparing for his 2024 campaign announcement, The Hill reported last week. 

Whether Biden should openly acknowledge the GOP’s discord is being debated. Some allies believe it’s not necessary that he explicitly says how dysfunctional things appear to be among his political opponents.  

“Depends on how bad it gets,” said Rendell. “If it’s really bad he doesn’t have to mention it.” 

That guidance is familiar territory for Biden, who went for long stretches of the last presidential campaign without calling out Trump by name. As president, he became more comfortable using the MAGA slogan to denounce what he sees as a threatening part of the Republican Party.  

Republicans are aware that Biden can use the House GOP as a target. 

“It’s incumbent on the new House Republican majority to plow the ground, to offer some ideas, to be a lead vehicle for the 2024 Republican nominating field and eventual nominee and not to become a political lead balloon or political drag,” said Republican strategist Colin Reed.  

“The Obama White House was very skillful at using the 2011-2012 Republican House Majority as a cudgel against Mitt Romney,” he said. “And no doubt the Biden White House will attempt to do the same thing.”  

Still, Biden is not without his own recent vulnerabilities.   The Hill’s 12:30 Report — FAA’s mass US ground stop causes chaos McCarthy: George Santos shouldn’t be on any top House committees

Republicans see fresh ammunition in the disclosure that classified documents had been discovered by attorneys for the president at a private office just days before the midterms at Penn Biden Center. The news only became public on Monday. 

While Democrats were eager to point out the differences in circumstances between the classified documents found at Biden’s former office at the university and classified documents from the Trump administration kept at the former president’s Mar-a-Lago residence, Republicans quickly went on the attack and accused the White House of hypocrisy.  

“Those in glass houses shouldn’t be throwing stones,” Reed said. “The Democrats, including President Biden, were so sanctimonious and holier than thou about rendering judgment on what happened in Mar-a-Lago involving those documents that are now going to have to answer the same questions.” 

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Crypto stocks down, IPOs punted amid tariff tumult

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Crypto stocks down, IPOs punted amid tariff tumult

Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans. 

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president. 

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries. 

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war. 

Crypto stocks down, IPOs punted amid tariff tumult

Bitcoin miners sold off on Trump’s tariff news. Source: Morningstar

Related: Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar. 

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously. 

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

Crypto stocks down, IPOs punted amid tariff tumult

Strategy’s shares also dropped this week. Source: Google Finance

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence. 

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1. 

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans. 

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

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Brazilian court authorizes crypto seizure for debt collection — Report

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Brazilian court authorizes crypto seizure for debt collection — Report

Source: STJnoticias

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview. 

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.” 

Related: Brazil’s data watchdog upholds ban on World crypto payments

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis. 

Brazilian court authorizes crypto seizure for debt collection — Report

In Latin America, only Argentina has higher crypto penetration in terms of value received as of June 2024. Source: Chainalysis

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company. 

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor. 

Related: Brazilian lawmaker introduces bill to regulate Bitcoin salaries

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Environment

EcoFlow members can save up to 65% on power stations while supporting disaster relief during the 2025 Member’s Festival

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EcoFlow members can save up to 65% on power stations while supporting disaster relief during the 2025 Member's Festival

Portable power station specialist EcoFlow is kicking off its third annual Member’s Festival this month and is offering a unique new rewards program to those who become EcoFlow members. The 2025 EcoFlow Member’s Festival will offer savings of up to 65% for its participating customers, and a portion of those funds will be allocated toward rescue power solutions for communities around the globe through the company’s “Power for All” fund.

EcoFlow remains one of the industry leaders in portable power solutions and continues to trek forward in its vision to power a new tech-driven, eco-conscious future. Per its website:

Our mission from day one is to provide smart and eco-friendly energy solutions for individuals, families, and society at large. We are, were, and will continue to be a reliable and trusted energy companion for users around the world.

To achieve such goals, EcoFlow has continued to expand its portfolio of sustainable energy solutions to its community members, including portable power stations, solar generators, and mountable solar panels. While EcoFlow is doing plenty to support its growing customer base, it has expanded its reach by giving back to disaster-affected communities by helping bolster global disaster response efforts the best way it knows how– with portable power solutions.

EcoFlow Member
Source: EcoFlow

EcoFlow and its members look to provide “Power for All”

Since 2023, EcoFlow has collaborated with organizations worldwide as part of its “Power for All” mission. This initiative aims to ensure access to reliable and timely power to disaster-affected communities across the globe, including rescue agencies, affected hospitals, and shelters, to support rescue and recovery efforts.

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This fund most recently provided aid for communities affected by the recent Los Angeles wildfires, assistance to the Special Forces Charitable Trust (SFCT) in North Carolina following severe hurricanes, and support for non-profits engaged in hurricane preparedness in Florida and the Gulf Coast. Per Jodi Burns, CEO of the Special Forces Charitable Trust:

In the wake of devastating storms in Western North Carolina, reliable power was a critical need for the families we serve. Thanks to EcoFlow’s generous donation of generators, we were able to provide immediate relief, ensuring these families and their communities had access to power when they needed it most. We are so impressed with EcoFlow’s commitment to disaster response through their ‘Power for All’ program. It has made a tangible impact, and we are deeply grateful for their support and partnership in helping these families recover and rebuild.

In 2024, the US experienced 27 weather and climate events, each causing losses exceeding $1 billion, marking the second-highest annual total on record, according to National Centers for Environmental Information. The increasing frequency and severity of natural disasters underscore the critical need for reliable and timely power solutions during emergencies, much like EcoFlow and its members are helping provide through the “Power For All” initiative.

To support new and existing EcoFlow members, the company is celebrating its third annual Member’s Festival throughout April to offer a do-not-miss discount on its products and donate a portion of all sales to the “Power for All” fund to provide rescue power to those in need in the future. Learn how it all works below.

Source: EcoFlow

Save big and give back during the 2025 Member’s Festival

As of April 1st, you can now sign up to become an EcoFlow member to participate in the company’s exclusive 2025 Member Festival.

As a member, you can earn “EcoFlow Power Points” by completing tasks like registration, referrals, and product purchases and tracking your individual efforts toward disaster preparedness and recovery.

Beginning April 4, EcoFlow members will also be able to take advantage of exclusive discounts of up to 65% off select portable power stations, including the DELTA Pro Ultra, DELTA Pro 3, DELTA 2 Max, DELTA 3 Plus, RIVER 3 Plus, and more. However, these sale prices only last through April 25, so you’ll want to move quickly!

Click here to learn more about EcoFlow’s “Power for All” campaign. To register for EcoFlow’s 2025 Member Festival in the US, visit the EcoFlow website. To register as a member in Canada, visit here.

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