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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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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Related: Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan unveils tax incentives to attract investors

Per the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.

To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.

Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.

Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.

The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.

Related: Pakistan proposes compliance-based crypto regulatory framework — Report

Pakistan creates Digital Asset Authority

On May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.

The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: Chainalysis

Data from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.

Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

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Crypto investor charged with kidnapping, torturing an Italian for passwords

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Crypto investor charged with kidnapping, torturing an Italian for passwords

Crypto investor charged with kidnapping, torturing an Italian for passwords

A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets.

John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month.

According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by Woeltz and an accomplice.

The attackers are said to have stolen the man’s passport and electronic devices before demanding the password to his Bitcoin (BTC) wallet. When he refused, the suspects allegedly subjected him to prolonged physical abuse.

Crypto investor charged with kidnapping, torturing an Italian for passwords
Source: Mario Nawfal

Related: Violent crypto robberies on the rise: Six attacks that targeted investors

Crypto victim beaten, electroshocked

The victim described being beaten, shocked with electricity, assaulted with a firearm and even dangled from the upper floors of the five-story building.

He also told police that Woeltz used a saw to cut his leg and forced him to smoke crack cocaine. Threats were also reportedly made against his family.

Photographic evidence found inside the property, including Polaroids, appears to support claims of sustained abuse. The victim managed to escape on Friday and alert authorities, leading to Woeltz’s arrest.

Woeltz was charged with four felony counts, including kidnapping for ransom, and entered a plea of not guilty. Judge Eric Schumacher ordered him to be held without bail. He is expected back in court on May 28.

A 24-year-old woman was also taken into custody on Friday in connection with the incident. However, she was seen walking freely in New York the next day, and no charges against her were found in the court’s online database.

Authorities have yet to clarify the relationship between the suspect and the victim or whether any cryptocurrency was ultimately stolen.

Related: Crypto crime goes industrial as gangs launch coins, launder billions — UN

Crypto executives turn to bodyguards

Executives and investors in the crypto industry are increasingly seeking personal security services as kidnapping and ransom cases surge, especially in France.

On May 18, Amsterdam-based private firm Infinite Risks International reported a rise in requests for bodyguards and long-term protection contracts from high-profile figures in the space.

French authorities have responded by introducing enhanced protections for crypto entrepreneurs and their families, including security briefings and priority access to police assistance.

This comes amid a recent surge in kidnappings and ransom attempts. David Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.

In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.

Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

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Gail’s backer plots rare move with bid for steak chain Flat Iron

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Gail's backer plots rare move with bid for steak chain Flat Iron

A backer of Gail’s bakeries is in advanced talks to acquire Flat Iron, one of Britain’s fastest-growing steak restaurant chains.

Sky News has learnt that McWin Capital Partners, which specialises in investments across the “food ecosystem”, has teamed up with TriSpan, another private equity investor, to buy a large stake in Flat Iron.

Restaurant industry sources said McWin would probably take the largest economic interest in Flat Iron if the deal completes.

They added that the two buyers were in exclusive discussions, with a deal possible in approximately a month’s time.

The valuation attached to Flat Iron was unclear on Sunday.

Flat Iron launched in 2012 in London’s Shoreditch and now has roughly 20 sites open.

The chain is solidly profitable, with its latest accounts showing underlying profits of £5.7m in the year to the end of August.

It already has private equity backing in the form of Piper, a leading investor in consumer brands, which injected £10m into the business in 2017.

Flat Iron was founded by Charlie Carroll, who retains an interest in it, but the company is now run by former Byron restaurant boss Tom Byng.

Houlihan Lokey, the investment bank, has been advising Flat Iron on the process.

McWin has reportedly been in talks to take full control of Gail’s while TriSpan’s portfolio has included restaurant operators such as the Vietnamese chain Pho and Rosa’s, a Thai food chain.

A spokesman for McWin declined to comment.

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