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Crypto companies outspend Big Oil and banks in 2024 elections

Republican presidential nominee Donald Trump is pumping the Trump Organization’s new crypto platform, which has just been rebranded from “The DeFiant Ones,” to “World Liberty Financial.”

In a post to his 90 million followers on X, the former president shared a video of himself with voiceover: “This afternoon, I’m laying out my plan to ensure that the United States will be the crypto capital of the planet. They want to choke you. They want to choke you out of business. We’re not going to let that happen.”

It was unclear who Trump meant by “they,” and a Trump campaign spokesman did not immediately respond to questions about the announcement from CNBC.

In his post, Trump tagged a verified X account called “World Liberty Fi,” or WLFI. The account has more than 20,000 followers and a handful of posts that began on Aug. 22.

The project also involves Trump’s sons, Donald Trump Jr. and Eric Trump.

“Excited to announce the launch of @WorldLibertyFi! A new era in finance is here,” Eric said Wednesday in a post on X.

The crypto project’s accompanying Telegram channel, which has also been renamed World Liberty Financial, had more than 52,000 subscribers as of Thursday morning, and climbing.

The announcement came a day after Trump launched a new round of his NFT trading cards.

Collect Trump Cards

Source: Collecttrumpcards.com

Like the crypto platform, the NFTs are a private Trump family enterprise in the digital currency space, and are not officially connected to Trump’s presidential campaign.

But the campaign and the private businesses dovetail, in that the NFTs and the crypto platform are promoted as part of Trump’s political brand, and they are marketed to his supporters.

For Trump, these private crypto enterprises offer an opportunity to both lure crypto voters and donors, and to make money.

The Republican nominee has been leaning into being the pro-crypto candidate for president, delivering increasingly bullish talking points on the industry.

Donations and endorsements from the crypto voting bloc have followed. The latest tally from the Trump camp put the total crypto-related raise at $25 million. CNBC has not been able to independently verify that figure.

Few details about World Liberty

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“I think there has been a lot of inequality in that only certain people can get financing […] so this notion of decentralized finance is obviously very appealing to guys like me who have been debanked,” Donald Trump Jr. said in the interview on Locals.

Eric meanwhile told the New York Post the project involved digital real estate, which could mean tokenizing real-world assets or refer to selling digitized versions of assets in the metaverse.

The former president described the project last week to his 7.5 million followers on Truth Social as a way to “take a stand — together.”

“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote.

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A 100-MW solar farm just broke ground in Wisconsin

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A 100-MW solar farm just broke ground in Wisconsin

National Grid Renewables has broken ground on its 100 MW Apple River Solar Project in Polk County, Wisconsin.

The Wisconsin solar farm, which will use US-made First Solar Series 6 Plus bifacial modules, will be constructed by The Boldt Company, creating 150 construction and service jobs. Apple River Solar will generate over $36 million in direct economic benefits over its first 20 years.

Once it comes online in late 2025, Apple River Solar will supply clean energy to Xcel Energy, which serves customers throughout the Upper Midwest. According to National Grid Renewables, the solar farm will generate enough energy to power around 26,000 homes annually. It will also offset about 129,900 metric tons of carbon dioxide emissions each year – equivalent to taking 30,900 cars off the road.

“We are excited to see this project begin as it underscores our dedication to delivering clean, reliable and affordable energy to our customers,” said Karl Hoesly, President, Xcel Energy-Wisconsin and Michigan. “This project is an important step in those goals while bringing significant economic benefits to Polk County and the local townships.”

Electrek reported in February that Xcel Energy, Minnesota’s largest utility, expects to cut more than 80% – and possibly up to 88% – of its emissions by 2030, putting it on track to hit Minnesota’s goal of net zero by 2040. It also says it’s on track to achieve its clean energy goals for all the Upper Midwest states it serves – Minnesota, Wisconsin, North Dakota, South Dakota, and Michigan.


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Tesla announces 500 kW charging as it finally delivers V4 Supercharger cabinets

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Tesla announces 500 kW charging as it finally delivers V4 Supercharger cabinets

Tesla has announced that it will finally deliver 500 kW charging as it is about to install its long-awaited V4 Supercharger cabinets.

The rollout of Supercharger V4 has been a strange one, to say the least.

Tesla has been deploying the new charging stations for two years and calling them “Supercharger V4”, but it has only been deploying the charging stalls.

Supercharger stations are made of two main parts: the stalls, which are where the charging cable is located, and the cabinets, which are generally located further back and include all the power electronics.

For all these new “Supercharger V4”, Tesla was actually using Supercharger V3 cabinets. This has been limiting the power output of the charging stations to 250 kW – although

Today, Tesla officially announced its “V4 Cabinet”, which the automaker claims will enable of “delivering up to 500kW for cars and 1.2MW for Semi.”

Here are the main features of the V4 Cabinet as per Tesla:

  • Faster charging: Supports 400V-1000V vehicle architectures, including 30% faster charging for Cybertruck. S3XY vehicles enjoy 250kW charge rates they already experience on V3 Cabinet — charging up to 200 miles in 15 minutes.
  • Faster deployments: V4 Cabinet powers 8 posts, 2X the stalls per cabinet. Lower footprint and complexity = more sites coming online faster.
  • Next-generation hardware: Cutting-edge power electronics designed to be the most reliable on the planet, with 3X power density enabling higher throughput with lower costs.

Tesla reports that its first sites with the new V4 Cabinets are going into permitting now. The company expects its first sites to open next year.

We recently reported about Tesla’s new Oasis Supercharger project, which includes larger solar arrays and battery packs to operate the charging station mostly off-grid.

Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to all Supercharger stations, and Musk even said that most stations would be able to operate off-grid.

While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.

Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:

It took about 8 years, but it sounds like the pieces are now getting actually in place with Supercharger V4, Megapacks, and this new Oasis project.

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Hyundai is launching an AI-powered EV next year to keep pace in China

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Hyundai is launching an AI-powered EV next year to keep pace in China

Hyundai has a new secret weapon it’s about ready to unleash. To revamp the brand in China and counter BYD’s surge, Hyundai is launching a new AI-powered EV next year. The new model will be Hyundai’s first dedicated electric car for the world’s largest EV market.

With the help of Haomo, a Chinese autonomous startup, Hyundai will launch its first EV equipped with generative AI. It will also be its first model designed specifically for China.

A Hyundai Motor official said (via The Korea Herald) the company is “working to load the software” onto the new EV model, “which will be released in the Chinese market next year.” The spokesperson added, “The level of autonomous driving is somewhere between 2 and 2.5.”

In comparison, Tesla’s Autopilot is considered a level 2 advanced driver assistance system (ADAS) on the SAE scale (0 to 5), meaning it offers limited hands-free features.

With Autopilot, you still have to keep your eyes on the road and hands on the steering wheel, or the system will notify you and eventually disengage.

Hyundai-AI-powered-EV
Hyundai IONIQ 5 with Waymo autonomous driving tech (Source: Hyundai)

Haomo’s system, DriveGPT, unveiled last spring, takes inspiration from the OpenAI’s popular ChatGPT.

The system can continuously update in real-time to optimize decision-making by absorbing traffic data patterns. According to Haomo, DriveGPT is used in around 20 models as it looks to play a bigger role in China.

Hyundai-AI-powered-EV
Hyundai at the Beijing Auto Show 2024 (Source: Hyundai Motor)

Hyundai hopes new AI-powered EV boosts sales in China

Electric vehicle sales continue surging in China. According to Rho Motion, China set another EV sales record last month with 1.2 million units sold, up 50% from October 2023.

Over 8.4 million EVs were sold in China in the first ten months of 2024, a notable 38% increase from last year.

Hyundai-AI-powered-EV
Hyundai IONIQ 6 (Source: Hyundai)

BYD continues to dominate its home market. According to Autovista24, BYD accounted for 32.9% of all PHEV and EV (NEV) sales in China through September, with over half of the top 20 best-selling EV models.

Tesla was second with a 6.5% share of the market, but keep in mind these numbers only include plug-in models (PHEV).

2025-Hyundai-IONIQ-5-prices
2025 Hyundai IONIQ 5 (Source: Hyundai)

Like most foreign automakers, Hyundai is struggling to keep up with the influx of low-cost electric models in China. Beijing Hyundai’s sales have been slipping since 2017. Through September, Korean automaker’s share of the Chinese market fell to just 1.2%.

Last month, Hyundai opened its first overseas digital R&D center in China to help kick off its return to the region.

According to local reports, Hyundai is partnering with other local tech companies like Thundersoft, a smart cockpit provider, and others in China to power up its next-gen EVs

With its first AI-powered EV launching next year, Hyundai hopes to turn things around in the region quickly. The new model will be one of five to launch in China through 2026.

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