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The protest began with a prayer. Several thousand Muslims knelt in rows before the Capitol building yesterday afternoon, their knees resting on the woven rugs theyd brought from home. Women here and men over there, with onlookers to the side. Seen from the Speakers Balcony, this ranked congregation would have looked like colorful stripes spanning the grassy width of the National Mall.

We are witnessing, before our eyes, the slaughter of thousands of people on our streets, Omar Suleiman, the imam who led the prayer, had said beforehand. We are witnesses to the cruelty that has been inflicted upon our brothers and sisters in Palestine on a regular basis.

The prayer group was part of a demonstration hosted by more than a dozen self-described progressive and religious organizations to call for an Israel-Hamas cease-fire. After Hamas massacred more than 1,400 people, most of them civilians, in its October 7 attack, Israeli bombardments of Gaza have reportedly killed more than 4,000 Palestinians, the great majority of whom were also civilians.

Peter Wehner: The inflection point

Although the protests organizers spanned a broad spectrum of faiths and group affiliations, it appeared that most of the rally attendees were Muslim, judging by the sea of multicolored head scarves and traditional dress. But progressives of other faiths were there, too, waving the red, white, and green flag of Palestine. Rally-goers called for President Joe Biden and the United States to stop supporting Israels blockade and air assault on Gaza. (The first convoy of trucks carrying aid entered Gaza through Egypt this morning, the United Nations reported.) As I moved through the crowd, we heard speeches from Gazan expats and representatives of progressive groups such as Jewish Voice for Peace, the Movement for Black Lives, the Working Families Party, and the Center for Popular Democracy.

Enough is enough, Alpijani Hussein, a Sudanese American government employee who wore a long white tunic, told me. He and a friend carried a banner reading BIDEN GENOCIDE . Every time Hussein, a father of four, sees coverage of children killed in Gaza, he told me, he imagines his own kids wrapped in body bags. Im a father, he said. I can feel the pain.

For nearly two weeks, the world has watched, transfixed, as a litany of horrors from the Middle East has unspooled before our eyes. First, the footage from October 7: the tiny towns on the edge of the desert, bullet-riddled and burning. Parents shot, their hands tied. Women driven off on motorcycles and in trucks. The woman whose pants were drenched in blood. And approximately 200 peopleincluding toddlers, teenagers, grandparentsstolen away and still being held hostage.

Then, more death, this time in Gaza. The body of a boy, gray with ash. Rubble and rebar from collapsed concrete buildings or their ghostly shells. TikTok diaries from teenagers with phones powered by backup generators. Theyre bombing us now, the teens explain, somehow sounding calm. Almost half of Gazas population are under 18; all they have known is Hamas rulethe Islamist group took over in 2007and a series of similar conflicts. A barrage of rockets fired by Hamas and other militants; a wave of air strikes from Israel.

But this time is different: Israel has never been wounded this wayOctober 7 represented the worst attack on Jews since the Holocaustand over the protest hung a frantic sense that the vengeance had only just begun. Hackles were up and, at one point, a police car drove by, sirens blaring. Two women near me clutched each other nervously, but the officer drove on without stopping.

Conor Friedersdorf: A collection of narratives on the Israel-Hamas war

Inside the Capitol, a plain consensus prevailed: Many members of Congress from both parties have opposed a cease-fire and expressed strong support for the U.S. providing military aid to Israel. But outside, things werent so simple; they never are. None of the people I met said they supported Hamas, and certainly not the recent atrocities. But many said that the violence cuts both ways. Israel is a terrorist country in my eyeswhat theyve been doing to the Palestinians, Ramana Rashid, from Northern Virginia, told me. Nearby, people held placards reading ISRAEL=COLONIZERS and ZIONISM=OPPRESSION . Many protesters told me they did not believe that Israel has a right to exist. At various points in the protest, the crowd broke into the chant Palestine will be free! From the river to the sea! (Whatever that slogan might mean for protestersan anti-colonial statement or an assertion of homelandfor most Israelis it is clearly denying the Jewish states right to exist.)

A cease-fire is the minimum to save lives, a D.C. resident named Mikayla, who declined to give her last name, told me. But what we really need is an end to the occupation. Leaning against her bike, she shook her head no when I asked whether Egypt should open its doors to fleeing Palestinians. If Egypt lets Gazans leave the Gaza Strip, then that is the definition of ethnic cleansing, Mikayla said.

Other protesters I spoke with expressed concern only for ending the daily suffering of Gazans. The humanitarian crisis came first; the rest, the political stuff, would come later.

Sheeba Massood, whod come with her friend Rashid from Northern Virginia, burst into tears when I asked why shed wanted to attend. It was important to pray together, she told me. It doesnt matter if youre Muslim, if youre Palestinian, if youre a Christian, if youre Jewish, Massood said, we are all witnessing the killing of all of these children that are innocent. Everything else, she said, was politics.

When I asked the demonstrators what might happen in the region, practically, after a cease-fire was enforced, most of them demurred. Im not a politician to know all the details and technicalities of it, a Virginia man named Shoaib told me. But I think just for one horrible thing, you dont just go kill innocent kids.

Every person I met was angry with Biden. The president has been unwavering in his support for Israel since October 7, and in an Oval Office address on Thursday, he reiterated his case for requesting funds from Congress for military aid to Israel. That same day, a senior State Department official resigned over the administrations decision to keep sending weapons to Israel without humanitarian conditions.

Read: Around the world, demonstrations of support, grief, and anger

In his remarks on Thursday, Biden spoke of the need for Americans to oppose anti-Semitism and Islamophobia equally. Fridays demonstrators, so many of whom were Muslim Americans, were not impressed with that evenhandedness.

Mr. President, you have failed the test, Osama Abu Irshaid, the executive director of American Muslims for Palestine, said from the podium outside of the Capitol. Ice-cream trucks parked nearby for tourists played jingles softly as he spoke. You broke your promise to restore Americas moral authority. Frankie Seabron, from the Black-led community group Harriets Wildest Dreams, led the crowd in chants of Shame directed at Biden. This is a battle against oppression, she said. We as Black Americans can understand! The crowd, which was beginning to thin, cheered its agreement.

As is generally the case, the program went on far too long. After two hours of speeches, the enthusiasm of an already thinned-out crowd was waning. The temperature dropped and raindrops fell, gently at first, then steadily. Finally, after organizers distributed blood-red carnations to every rally-goer, the group began the trek to the presidents house.

The demonstrators marched slowly at first up Pennsylvania Avenue, struggling with their banners in the driving rain. But as the remaining protesters got closer to the White House, the rain paused, and the sun peeked through the dark clouds. The protesters laid their flowers in the square before the White House gatesan offering and a demand for a different future for Gaza.

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World

US-Ukraine deal no longer looks like gangsters running a protection racket – but Trump could still end military support

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US-Ukraine deal no longer looks like gangsters running a protection racket - but Trump could still end military support

This is a significant moment in this war.

It strengthens ties between Ukraine and the US which have been fraying to the point of disintegration.

But will it increase the chances of a diplomatic breakthrough to find peace? Possibly not. Without that, this agreement will have changed little in this pointless grinding war.

But it does give Donald Trump a personal political investment in a conflict he has always seemed to have regarded as someone else’s fault, someone else’s problem and a money pit for US resources.

On the face of it, it is a purely economic agreement.

Ukraine had wanted to tie in explicit guarantees of continuing US military support. The details are scant but they appear to be absent.

But reaching agreement is a considerable diplomatic achievement on both sides.

More from World

The negotiations have been painful.

Ukraine war latest: Follow live updates

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Trump and Zelenskyy – it’s complicated?

The idea of a minerals deal was initially proposed by President Zelenskyy but at times he must have regretted it as acrimonious talks threatened to torpedo US support for Ukraine entirely.

It was meant to have been signed in February before the infamous Zelenskyy-Trump-Vance bust up in the Oval Office.

At one point it looked like an act of extortion. Like gangsters running a protection racket, the US seemed to be demanding all Ukraine’s mineral wealth in return for continued support.

But the terms now look less onerous. Most importantly it seems the Trump administration is not asking retrospectively for the return of billions given by the Biden administration, by means of this minerals extraction agreement.

The turning point in negotiations appears to have been the meeting engineered between Mr Trump and Mr Zelenskyy on the sidelines of the Pope’s funeral in Rome on Saturday. Mr Zelenskyy appears to have persuaded Mr Trump it was a deal worth signing.

Read more:
Key moments that have shaped Trump and Zelenskyy relationship
Tesla’s board members ‘start looking for Musk’s successor’
What the White House has said about minerals deal

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From February: Watch Trump and Zelenskyy clash

The terms are vague and not detailed but the agreement appears to be more of a long term proposal for joint cooperation over Ukraine’s economic future.

America will invest in exploiting Ukraine’s mineral wealth but also share the profits years down the line.

The signing comes at a crucial time for Ukraine. Its forces are losing ground on the battlefield. And Mr Trump’s efforts to broker peace look decidedly one-sided against them.

Falling in line on this deal was essential for Ukrainians. Whether it saves them from President Trump walking away and ending military support for them anyway, is by no means certain.

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Politics

Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

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Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

Banking giant Morgan Stanley reportedly plans to list cryptocurrencies on its E*Trade investment brokerage and trading platform.

According to a May 1 Bloomberg report, the firm intends to list crypto assets on E*Trade in 2026. The plan is still in early development, and the bank is said to be exploring partnerships with established crypto firms to power the service. Internal discussions about cryptocurrency support reportedly began in late 2024.

Banking, Banks, Cryptocurrency Exchange, Morgan Stanley
E*Trade homepage. Source: E*Trade

This would not be Morgan Stanley’s first exposure to digital assets. The bank’s wealthiest clients have had access to crypto exchange-traded funds (ETFs) and futures for some time, with the firm’s advisers allowed to pitch Bitcoin ETFs since August 2024.

Related: Morgan Stanley to explore crypto offerings for clients — CEO

Regulatory tailwinds push crypto forward

The news follows previous reports that Morgan Stanley was considering adding cryptocurrency trading to its E*Trade online brokerage platform in early January. The reports at the time cited the expectations of a friendlier crypto regulatory environment.

The move comes amid an increasingly favorable regulatory environment in the United States following the election of President Donald Trump, who campaigned on a pro-crypto platform and is personally involved in several blockchain ventures.

Related: Morgan Stanley discloses $188M in BlackRock Bitcoin ETF holdings

The first 30 days of the Trump administration brought significant changes to the local crypto industry. More recently, US crypto proponents have shown optimism following the swearing-in of pro-crypto Securities and Exchange Commission Chair Paul Atkins.

The SEC had significantly changed its stance even before Atkins took office. In late February, the agency had already paused multiple cryptocurrency enforcement cases with imminent deadlines.

This is a developing story, and further information will be added as it becomes available.

Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet

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Trump rewrites crypto rules in first 100 days, industry celebrates ‘180 pivot’ from Biden years

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Trump rewrites crypto rules in first 100 days, industry celebrates '180 pivot' from Biden years

People walk past an advertisement feature Donald Trump with Bitcoin in Hong Kong. 

May James | Lightrocket | Getty Images

As President Donald Trump hit the 100-day mark this week for his second term in office, his approval numbers were lower than for any administration at this point in over seven decades.

Don’t tell that to the crypto community.

Trump ran for office on a promise to make America “the crypto capital of the world.” Those who got behind that message say he’s already delivered, or at least gotten off to a hot start.

A blitz of executive actions, strategic appointments, and early wins, from the creation of a Strategic Bitcoin Reserve to the rollback of enforcement-heavy SEC tactics, has left the industry feeling more welcome in Washington, D.C., than ever.

“Every single appointment — I’m happy with from a crypto perspective,” said Nic Carter, founding partner at Castle Island Ventures. “The previous financial regulatory apparatus was dead set against crypto, and now it’s been a total 180 compared to that.”

President Trump faced early blowback after proposing the possibility of a strategic crypto reserve that would go beyond bitcoin and include other digital currencies like etherXRP,  Solana’s SOL token and Cardano’s ADA. Skeptics said taxpayer dollars shouldn’t be spent on such risky assets. The president soon narrowed the plan to focus solely on bitcoin and made clear he wouldn’t use taxpayer funds to support a government buying strategy.

He’s also been criticized by some for launching a meme coin that’s added billions of dollars in paper wealth to his net worth. The $TRUMP token surged earlier this month after its website announced that top holders would be invited to a private dinner with the president. His family is also involved in other crypto projects.

Exodus legal chief discusses SEC's first crypto roundtable under new Chair Paul Atkins

“It doesn’t really help to have members of his family do encrypted projects of their own,” Carter said. “I understand that they are interested in the industry and want to engage with it, but the optics are not that favorable around that.”

But for the most part, that behavior is being ignored as the crypto industry prefers to focus its attention elsewhere even as the president’s job approval broadly sits at just 43%, according to an average of recent national polls.

At the Office of the Comptroller of the Currency, Jonathan Gould has signaled support for issuing new bank charters to crypto firms. During President Joe Biden’s presidency, that was almost unthinkable.

“We’ll see a lot of new crypto firms getting bank charters,” Carter said. “And new banks getting set up that are expressively focused on crypto and stablecoins.”

The Federal Deposit Insurance Corporation, under interim chair Travis Hill, is also making moves. Crypto fans have applauded his efforts to expose what industry insiders call “Choke Point 2.0,” an alleged coordinated effort by regulators during the Biden presidency to pressure banks into severing ties with crypto.

Paul Atkins, the new chair of the SEC, represents a stark contrast to predecessor Gary Gensler, who was a notorious hardliner when it came to crypto regulations and enforcement. Carter said the SEC under Atkins has already begun working directly with crypto stakeholders, including Castle Island, to craft guidance on token issuance and the line between securities and commodities.

“This is the clarity we’ve been asking for,” Carter said. “Even barring a legislative solution, I think the SEC is going to come out with real guidance around tokens and how a domestic crypto firm can operate.”

Atkins made his first public appearance just four days into the job by opening a crypto roundtable — a move that sent a clear signal to industry participants. Last week, Atkins hosted a half-day session at SEC headquarters in Washington, D.C., focused on crypto innovation and custody. The event took place weeks after the regulator formally dropped its long-running lawsuit against Ripple, a symbolic end to a four-year battle between the SEC and the crypto industry. 

Read more about tech and crypto from CNBC Pro

Veronica McGregor, the chief legal officer of Exodus and a participant in the SEC’s crypto roundtable, echoed Carter’s sentiment in calling the approach a “180 pivot.”

“Just having the roundtables are kind of surprising and refreshing,” said McGregor, who contributed to the political advocacy group Stand With Crypto during the 2024 campaign. “Given that we have an administration that is touting itself as pro-crypto and making some changes that need to be made, I would say those donations were strategically placed and are paying off.”

Waiting on the Fed

Trump has tapped Brian Quintenz, currently policy chief for the crypto group at venture firm Andreessen Horowitz, to lead the Commodity Futures Trading Commission.

Carter cautioned that the Federal Reserve remains a “structural holdout.” While banks can now custody crypto, thanks to the repeal of an accounting rule called SAB 121, they still can’t work directly with crypto firms “unless the Fed says they can,” Carter said.

The FDIC and OCC have rescinded their anti-crypto guidance, but the Federal Reserve has only partially followed suit. A notice from Jan. 2023 continues to restrict banks from certain crypto-related activities.

“The Fed is still the blocker for banks to deal with stablecoins for crypto,” Carter said.

Brian Armstrong, CEO of Coinbase, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 21st, 2025.

Gerry Miller | CNBC

Still, the industry has largely gotten what it wants.

Coinbase CEO Brian Armstrong was among the biggest donors in the 2024 election cycle and made it his second job to try and get crypto-friendly candidates elected. Paul Grewal, the company’s legal chief, said the Trump administration has “really flipped the script on crypto.”

“It wasn’t all that long ago that we had an administration that not only was skeptical of this entirely new technology, but was in fact hostile to it,” Grewal said. “Now we have a White House and a wider administration that is not only welcoming of digital assets and blockchain-based technologies, but embracing it in a number of different ways, and that really has stood out in the first 100 days.”

Grewal also pointed to some bipartisan momentum in Congress, including bills on stablecoins and market structure.

“We’ve got one issue, it seems, where the White House, together with Republicans on the Hill, have worked together with Democrats in both houses of the Congress to get digital asset legislation on the move,” Grewal said.

Grewal praised the SEC for soliciting public input and opening the door to industry participation on topics like custody and market structure.

Faryar Shirzad, Coinbase’s chief policy officer, said the administration has already met two core expectations: ending the regulatory crackdown on crypto and working with Congress to deliver clarity.

He said he’s been pleasantly surprised by the scope of the administration’s ambitions to go beyond bitcoin and to integrate blockchain technology across the broader financial system.

“They are moving much more aggressively to try to implement crypto and blockchain technology in the broader capital markets,” he said. At the SEC, he said, that includes tokenizing the equities market and examining how that fits within traditional regulatory frameworks.

Trump’s World Liberty Financial crypto project says it sold $550 million in tokens

Shirzad also noted that bank regulators have begun exploring blockchain-based payment systems. Beyond the $3 trillion crypto market, he said the administration’s target appears to be the $100 trillion capital markets, “and I think that’s something that people should pay close attention to.”

Ripple Chief Legal Officer Stu Alderoty, now president of the National Cryptocurrency Association, said internal data shows that 73% of U.S. crypto holders want to see the country become a global leader in the space.

“The government and the industry can now move out of the courtroom and invest in what the U.S. does best — innovation,” Alderoty told CNBC.

Fred Thiel, CEO of bitcoin mining firm MARA Holdings, pointed to early wins for his slice of the industry. He said the administration’s support for mining technology allows companies “to strengthen the U.S. economy and grid.”

Thiel, who participated in the first White House Digital Assets Summit, praised the swift appointment of pro-crypto officials and the launch of the President’s Council of Advisers on Digital Assets.

Dan Lawrence CEO of OBM, which manages energy use for industrial-scale mining farms, said the administration’s pro-energy stance has made bitcoin a natural tool for incentivizing new power infrastructure.

“Bitcoin is a great way to incentivize the build out of that power,” Lawrence said. “It’s really great to see bitcoin being acknowledged at the federal level.”

WATCH: OCC rescinds key regulatory hurdle for banking system to engage in crypto-related activity

OCC rescinds key regulatory hurdle for banking system to engage in crypto-related activity

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