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The story Donald Trump tells about himselfand to himselfhas always been one of domination. It runs through the canonical texts of his personal mythology. In The Art of the Deal, he filled page after page with examples of his hard-nosed negotiating tactics. On The Apprentice, he lorded over a boardroom full of supplicants competing for his approval. And at his campaign rallies, he routinely regales crowds with tales of strong-arming various world leaders in the Oval Office.

This image of Trump has always been dubious. Those boardroom scenes were, after all, reality-TV contrivances; those stories in his book were, by his own ghostwriters account, exaggerated in many cases to make Trump appear savvier than he was. And theres been ample reporting to suggest that many of the world leaders with whom Trump interacted as president saw him more as an easily manipulated mark than as a domineering statesman to be feared.

The truth is that Trump, for all of his tough-guy posturing, spent most of his career failing to push people around and bend them to his will.

That is, until he started dealing with Republican politicians.

For nearly a decade now, Trump has demonstrated a remarkable ability to make congressional Republicans do what he wants. He threatens them. He bullies them. He extracts from them theatrical displays of devotionand if they cross him, he makes them pay. If there is one arena of American power in which Trump has been able to actually be the merciless alpha he played on TVand there may, indeed, be only oneit is Republican politics. His influence was on full display this week, when he derailed a bipartisan border-security bill reportedly because he wants to campaign on the immigration crisis this year.

David Frum: The GOPs true priority

Sam Nunberg, a former adviser to Trump, has observed this dynamic with some amusement. Its funny, he told me in a recent phone interview. In the business world and in the entertainment world, I dont think Donald was able to intimidate people as much.

He pointed to Trumps salary negotiations with NBC during Trumps Apprentice years. Jeff Zucker, who ran the network at the time, has said that Trump once came to him demanding a raise. At the time, Trump was making $40,000 an episode, but he wanted to make as much as the entire cast of Friends combined: $6 million an episode. Zucker countered with $60,000. When Trump balked, Zucker said hed find someone else to host the show. The next day, according to Zucker, Trumps lawyer called to accept the $60,000. (A spokesperson for the Trump campaign did not respond to a request for comment.)

Contrast that with the power Trump wields on Capitol Hillhow he can kill a bill or tank a speakership bid with a single post on social media; how high-ranking congressmen are so desperate for his approval that theyll task staffers to sort through packs of Starbursts and pick out just the pinks and reds so Trump can be presented with his favorite flavors.

I just remember that thered be a lot of stuff that didnt go his way, Nunberg told me, referring to Trumps business career. But he has all these senators in the fetal position! They do whatever he wants.

Why exactly congressional Republicans have proved so much more pliable than anyone else Trump has contended with is a matter of interpretation. One explanation is that Trump has simply achieved much more success in politics than he ever did, relatively speaking, in New York City real estate or on network TV. For all of his tabloid omnipresence, Trump never had anything like the presidential bully pulpit.

From the January/February 2024 issue: Loyalists, lapdogs, and cronies

It stands to reason that [when] the president and leader of your party is pushing for something thats whats going to happen, a former chief of staff to a Republican senator, who requested anonymity in order to candidly describe former colleagues thinking, told me. Take away the office and put him back in a business setting, where facts and core principles matter, and it doesnt surprise me that it wasnt as easy.

But, of course, Trump is not the president anymoreand there is also something unique about the sway he continues to have over Republicans on Capitol Hill. In his previous life, Trump had viewers, readers, fansbut he never commanded a movement that could end the careers of the people on the other side of the negotiating table.

And Trumpwhose animal instinct for weakness is one of his defining traitsseemed to intuit something early on about the psychology of the Republicans he would one day reign over.

Nunberg told me about a speech he drafted for Trump in 2015 that included this line about the Republican establishment: Theyre good at keeping their jobs, not their promises. When Trump read it, he chuckled. Its so true, he said, according to Nunberg. Thats all they care about. (Nunberg was eventually fired from Trumps 2016 campaign.)

This ethos of job preservation at all costs is not a strictly partisan phenomenon in Washingtonnor is it new. As I reported in my recent biography of Mitt Romney, the Utah senator was surprised, when he arrived in Congress, by the enormous psychic currency his colleagues attached to their positions. One senator told Romney that his first consideration when voting on any bill should be Will this help me win reelection?

From the November 2023 issue: What Mitt Romney saw in the Senate

But the Republican Party of 2015 was uniquely vulnerable to a hostile takeover by someone like Trump. Riven by years of infighting and ideological incoherence, and plagued by a growing misalignment between its base and its political class, the GOP was effectively one big institutional power vacuum. The litmus tests kept changing. The formula for getting reelected was obsolete. Republicans with solidly conservative records, such as House Majority Leader Eric Cantor, were getting taken out in primaries by obscure Tea Party upstarts.

To many elected Republicans, it probably felt like an answer to their prayers when a strongman finally parachuted in and started telling them what to do. Maybe his orders were reckless and contradictory. But as long as you did your best to look like you were obeying, you could expect to keep winning your primaries.

As for Trump, its easy to see the ongoing appeal of this arrangement. The Apprentice was canceled long ago, and the Manhattan-real-estate war stories have worn thin. Republicans in Congress might be the only ostensibly powerful people in America who will allow him to boss them around, humiliate them, and assert unbridled dominance over them. Theyve made the myth true. How could he possibly walk away now?

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Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

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Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

Internet service providers (ISPs) in the Philippines began blocking major crypto trading platforms as regulators moved to enforce local licensing rules on crypto service providers. 

Users reported that as of Tuesday, access to global cryptocurrency exchanges Coinbase and Gemini was unavailable in the Philippines. Cointelegraph independently confirmed that both platforms were inaccessible across multiple local ISPs. 

A report by the Manila Bulletin said the ISP blocks followed an order from the National Telecommunications Commission, which directed providers to restrict access to 50 online trading platforms flagged by the Bangko Sentral ng Pilipinas (BSP), the central bank, as operating without authorization.

The central bank did not publish a full list of the platforms hit by the order. However, the change signals an ongoing shift by local regulators from informal tolerance to enforcement, making local licensing the deciding factor for crypto market access in the Philippines.

Crypto exchange Coinbase is now inaccessible in the Philippines. Source: Cointelegraph

Coinbase, Gemini join Binance in Philippines access block

While the Philippines has only recently blocked Coinbase and Gemini, the country has made enforcement moves against unlicensed crypto exchanges in the past. 

In December 2023, the country started a 90-day countdown, giving Binance time to comply with local regulations before enforcing a ban on the crypto trading platform.

The Philippines Securities and Exchange Commission (SEC) said the period was meant to allow Filipinos to remove their funds from the exchange. 

On March 25, 2024, the NTC ordered local ISPs to block Binance. Nearly a month later, the SEC ordered Apple and Google to block the exchange’s application from their stores.

After the ban was enforced, the Philippines SEC said it could not endorse ways for Filipinos to retrieve their funds.

More recently, the SEC identified 10 exchanges, including OKX, Bybit and KuCoin, operating without licenses.

Related: Grab deepens stablecoin push with StraitsX Web3 wallet and settlements

Regulated players roll out crypto products

While the country cracks down on unregulated platforms, compliant companies have been rolling out crypto-related infrastructure in the country. 

On Nov. 19, regulated crypto exchange PDAX partnered with payroll provider Toku to let remote workers receive their salaries in stablecoins. This allows workers to convert earnings to pesos without wire fees or delays. 

On Dec. 8, digital bank GoTyme rolled out crypto services in the Philippines following a partnership with US fintech firm Alpaca. With the rollout, 11 crypto assets can be bought and stored through the platform’s banking application.