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Donald Trump has signed an executive order establishing a strategic cryptocurrency reserve for the United States comprised of the 198,000 bitcoins the American government already holds through law enforcement confiscations, worth an estimated $17bn in total.
White House crypto czar David Sacks said the move would “not cost taxpayers a dime” but the announcement caused the price of bitcoin to slump on Thursday night, with the value of rival coins also tumbling.
Trump is hosting a “Digital Assets Summit” at the White House on Friday.
Yesterday, the president postponed planned 25 percent tariffs on most goods from Mexico and Canada for one month after speaking to Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
Sheinbaum described her call with Trump as “excellent and respectful,” whereas the Trudeau exchange was reportedly more “colorful”, with the Canadian saying afterwards he expects his country to remain locked in a trade war with the U.S. for the foreseeable future.
Trump also abruptly called a cabinet meeting yesterday to clarify the role of Elon Musk and the Department of Government Efficiency (DOGE) after they faced significant pushback from the courts over their authority to order the mass firings of federal workers.
Jimmy Kimmel roasts Trump for ‘dumb’ claim about transgender mice
The late night host roasted the president for falsely claiming, during his address to Congress on Tuesday evening that the U.S. government spent $8m on making mice “transgender”.
Here’s Greg Evans on Kimmel.
Joe Sommerlad7 March 2025 13:10
Trump’s treasury secretary declares cheap goods are ‘not the essence of the American Dream’
Scott Bessent made that odd statement as part of a defense of his boss’s tariffs hike unsettling the stock market.
Let them eat overpriced cake?
Joe Sommerlad7 March 2025 12:50
Trump administration resumes detention of migrant families and kids
A detention center in Texas is reopening as the Trump administration prepares to restart the detention of migrant families and kids – a move that advocates worry could usher in another “dark chapter” in America’s treatment of immigrants.
CoreCivic, a company that manages the South Texas Family Residential Center in Dilley, Texas, announced on Wednesday that it had reached an agreement with U.S. Immigration and Customs Enforcement (ICE) to reactivate the facility.
The facility, which holds up to 2,400 people, was built in 2014 for ICE to provide additional space to hold migrant families.
CoreCivic ran the center until 2024, “when funding for the contract with ICE was terminated and the facility was idled,” the company said in a statement.
The newest agreement is set to expire in 2030.
Joe Sommerlad7 March 2025 12:30
Musk wants to privatize Amtrak and the Postal Service
The billionaire Trump adviser wants government-run entities like the U.S. Postal Service and Amtrak to be taken private.
“Basically, something’s got to have some chance of going bankrupt, or there’s not a good feedback loop for improvement,” Musk told the Morgan Stanley Technology Media & Telecom conference this week.
“We should try to privatize everything we possibly can, and that would be my recommendation.”
The DOGE leader reserved special ire for Amtrak, saying the rail provider “can leave you with a very bad impression of America,” compared with comparable services in other countries.
Joe Sommerlad7 March 2025 12:10
Trudeau tears up as he makes pledge to Canadian people amid Trump trade war
The outgoing Canadian PM appears to be taking Trump’s latest aggressions rather personally.
Trudeau is into his final weeks as the country’s leader after he was forced to resign by his party before Christmas over internal disputes about how to handle the U.S. president and his tariffs on Canadian imports.
Speaking to the media on Thursday, the PM became visibly emotional while saying he had worked hard for the country.
“On a personal level, I made sure that every single day in this office, I put Canadians first, that I have people’s backs, and that’s why I’m here to tell you all, we got you, even in the very last days of this government, we will not let Canadians down today and long into the future,” he said, his eyes welling with tears.
“We want to continue to be strong and resolute in our response and we will continue to be there for each other because the unity that Canadians are feeling right now is actually the most important thing in being able to stand up against the trading partner that is much bigger than us.”
Joe Sommerlad7 March 2025 11:50
Trump-Trudeau call after tariff announcement got heated and included ‘profanity’
While the American was highly complimentary about Claudia Sheinbaum after their call yesterday, it seems the same cannot be said for his latest exchange with Ottawa.
The Wall Street Journal reports that, contrary to Trump’s claim the interaction was “somewhat friendly”, the truth is that it was heated and profanity-laden.
Here’s more from Katie Hawkinson.
Joe Sommerlad7 March 2025 11:30
Trump plans to revoke legal status for hundreds of thousands Ukrainians who fled Russian invasion
The president is planning to revoke temporary legal status for some 240,000 Ukrainians who fled the conflict with Russia, according to a senior administration official.
The move, confirmed to Reuters by the official and three other sources, potentially leaves the refugees open to being swiftly deported back home amid the ongoing war, perhaps as early as April.
It would come in stark contrast to the welcome offered to those escaping the conflict that was rolled out by the Biden administration three years ago.
This was Trump’s not very reassuring answer on the matter yesterday:
Joe Sommerlad7 March 2025 11:10
Trump considering changing NATO policy to favor countries spending more on defense
The president is reportedly considering changing the terms of U.S. engagement with NATO to favor members who spend a set percentage of their gross domestic product (GDP) on defense.
Officials told NBC News that under the revised policy, the U.S. might not come to the aid of a NATO member that has been attacked if they don’t spend a certain amount of their GDP on defense.
The change would be a departure from NATO’s Article 5, which states that an attack on one country is an attack on all and has only ever been actioned once, in support of America after 9/11.
Here’s the president apparently forgetting his history on that point yesterday:
Gustaf Kilander has more.
Joe Sommerlad7 March 2025 10:50
Watch: Trump gives cryptic answer on Ukraine-Russia peace deal
The president said a number of other fruity things during yesterday’s press sit down, from “globalists” being responsible for the adverse market reaction to his tariff aggressions, America not needing Canadian lumber anyway (so there) and raving about astronaut Suni Williams, trapped in space for nine months, having wonderful thick hair.
Trump gives cryptic answer when asked about Ukraine Russia peace deal
Donald Trump appeared to give somewhat of a cryptic answer when he was pressed on the possibility of a Russia and Ukraine peace deal. The US president was asked for an update in relation to peace talks between the two countries as he signed several executive orders at the White House on Thursday (6 September). A journalist asked the president: “When Zelensky inevitably comes back to the White House what do you expect from him?” Trump replied: “I think Ukraine wants to make a deal because I don’t think they don’t have a choice. “I also think Russia wants to make a deal because in a certain different way, a way only I know, they have no choice either.”
Joe Sommerlad7 March 2025 10:30
Trump says MSNBC anchors Nicolle Wallace and Rachel Maddow ‘should be forced to resign’
Also in the Oval yesterday, the president lashed out at the liberal pundits after Wallace criticized his decision to make 13-year-old brain cancer survivor DJ Daniel an honorary Secret Service agent during his address to Congress on Tuesday night.
Wallace contrasted the gesture with Trump pardoning Capitol rioters and said she hoped Daniels “never has to defend the United States Capitol against Donald Trump’s supporters.”
“Worse than CNN is ‘MS-DNC,’ which is the worst,” the president ranted in response.
“And the good news is very few people watch them anymore. They have lost such credibility; and, frankly, what Nicole Wallace said – I’ve never been a fan of hers, and she’s not very talented — but I’ll tell you, what she said the other day about that young man is disgraceful. She should be forced to resign.
“And Rachel Maddow should be forced to resign. Nobody watches her anyway. I don’t know if – it’s not possible they pay her as much money as I hear – but certainly she’s lost all credibility. Both of them. But what they said the other day, they should be forced to resign, about that young person who is suffering.”
Here’s Josh Marcus on Trump contradicting himself by claiming never to watch liberal channels like MSNBC and CNN.
Joe Sommerlad7 March 2025 10:10
Source: Trump establishes ‘digital Fort Knox’ for bitcoin but crypto markets slump: Live