Czech coalition government faces a parliamentary no-confidence vote over bitcoin scandal
PRAGUE (AP) — The Czech coalition government on Tuesday faced a parliamentary no-confidence vote over a bitcoin-related scandal.
The main opposition centrist ANO (YES) movement led by populist billionaire Andrej Babiš requested the vote after the Justice Ministry accepted a donation of bitcoins and sold them for almost 1 billion Czech koruna ($47 million) earlier this year.
The three opposition parties, including ANO, the anti-migrant Freedom and Direct Democracy movement and the liberal Pirates party, are unlikely to oust the four-party coalition government led by conservative Prime Minister Petr Fiala, which has a majority in the lower house of Parliament.
Justice Minister Pavel Blažek resigned from his post over the issue on May 30 and was replaced by Eva Decroix on June 10.
Blažek said he wasn't aware of any wrongdoing, but didn't want the coalition to be harmed by the scandal. Fiala said he appreciated his resignation and believed Blažek acted with goodwill.
Blažek was a close ally of Fiala in the government and also in his conservative Civic Democratic Party. The new minister is from the same party.
Decroix said she will order an independent probe into the ministry's activities in the case.
The scandal focues on the fact that the bitcoins were donated to the ministry by a person who was previously convicted of drug dealing and other crimes, while it was not clear why he did it.
The opposition has accused Blažek of possible money laundering, because it wasn't clear where the bitcoins originated, and demanded the resignation of the entire government. The issue has been investigated by the national police's organized crime unit.
Czech lawmakers were debating the no-confidence motion, the fourth since the government took over after a 2021 election, with a vote expected late Tuesday or Wednesday.
The scandal comes just months before the Oct 3-4 parliamentary election. Babiš is predicted to win the vote.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Trump wants Iran's 'unconditional surrender'
Trump wants Iran's 'unconditional surrender' originally appeared on TheStreet. President Donald Trump made a shocking post on Truth Social on June 17 as the Israel-Iran war escalated. "We now have complete and total control of the skies over Iran. Iran had good sky trackers and other defensive equipment, and plenty of it, but it doesn't compare to American made, conceived, and manufactured 'stuff.' Nobody does it better than the good ol' USA," he wrote on the Truth Social app. Trump asked for "UNCONDITIONAL SURRENDER!" and warned that Ayatollah Ali Khamenei is an easy target, though they aren't going to kill him — "at least not for now." Earlier, Trump had warned everyone to immediately evacuate Tehran. The markets immediately began to dip following the latest indication of the U.S. getting more involved in the war. The total crypto market cap declined to $3.24 trillion as we write. As per Kraken's price feed, Bitcoin fell 0.20% in an hour to trade at $104,275.54 at press time. Ethereum declined 0.50% in an hour to $2,493.97, XRP also fell 0.28% to trade at $2.17, and Solana fell 0.44% to $147.19. The price of Brent crude oil also immediately jumped north of $75 a barrel within minutes of Trump making the post on social media. Since Iran is one of the world's leading producers of crude oil, the impact of the war on oil prices is estimated to be severe. The price of gold — Bitcoin maximalists refer to the king coin as "digital gold" — reached $3,380 per oz. The latest war in the Middle East has led to a massive sell-off in the crypto market. Its total market cap fell from $3.4 trillion to $3.22 trillion on June 13 when Israel attacked Iran. The market recently recovered to $3.39 trillion, but the latest announcement by Trump again led to it dipping to $3.24 trillion at the time of writing. Trump wants Iran's 'unconditional surrender' first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared.
Yahoo
20 minutes ago
- Yahoo
Shiba Inu Slides to Two-Month Low as Trump Threatens Khamenei, Demands Unconditional Surrender
Shiba inu (SHIB), the world's second-largest meme token by market value, faced selling pressure alongside losses in the broader crypto market and U.S. stocks. SHIB fell over 3.5% to 0.00001134, the level last seen on April 9, according to data source CoinDesk. Bitcoin, the leading cryptocurrency by market value, slipped nearly 3% to $103,800. The risk aversion happened after President Donald Trump downplayed reports of his administration seeking truce with Iran and threatened assassination of Iran's Supreme leader Ayatollah Ali Khamenei, calling for IRan's unconditional surrender in the ongoing war with Israel. SHIB's decline follows rejection at the $0.00001230 resistance level Monday, which paved for the sell-off with exceptionally high trading volumes exceeding 1.2 billion tokens. Support had briefly emerged at around $0.00001167 early today, but was eventually pierced by bears, driving prices lower. Market analysts note that SHIB's performance reflects broader cryptocurrency market trends, which continue to be influenced by global economic factors and trade disputes between major economies. As traditional financial markets respond to these tensions, cryptocurrencies like SHIB face increased volatility while traders closely monitor key support and resistance levels for signs of directional movement. Clear rejection at the $0.0000123 resistance level during the 20:00-21:00 timeframe. Aggressive sell-off with exceptionally high volume (1.23B and 1.31B) during the 22:00-00:00 period. Support emerged around $0.00001167, coinciding with high-volume buying interest. Bearish momentum appears to be losing steam as price consolidates in the $0.00001176-$0.00001182 range. Decreasing selling pressure evident in the diminishing volume profile. Increased volatility in the last hour, forming a notable price structure between $0.00001175-$0.00001182. Recovery attempt reached a local high of $0.00001182 at 13:30, accompanied by substantial volume (8.8B). Bullish momentum was short-lived as sellers returned at 13:44, driving price down 3% with exceptional volume (9.7B). Final minutes show consolidation around $0.00001175, with decreasing volatility and volume suggesting exhaustion of selling pressure.
Yahoo
31 minutes ago
- Yahoo
Dow sheds nearly 300 points as Iran-Israel conflict continues
The conflict between Iran and Israel continues to weigh on the markets. All three of the major indexes (^DJI, ^GSPC, ^IXIC) closed lower while oil prices (CL=F, BZ=F) rose. Market Domination Overtime Anchor Julie Hyman recaps the action at the close. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. There's the closing bell on Wall Street, and now it's market domination overtime. I'm going to show you where the major averages ended the session here, the Dow falling by nearly 300 points, about 7/10ths of 1%, the S&P 500 down 8/10ths of 1%, and the Nasdaq composite down 9/10ths of 1%. A couple of things combining to send stocks lower today. First and foremost, investors really watching not just the events out of the Middle East as Israel and Iran continue to trade attacks on one another, but also on the rhetoric here from President Trump who left the G7 meeting early and talked about unconditional surrender needing to come from Iran, as he has repeated what he has long said that the country cannot have a nuclear weapon or nuclear capability. And so that all going on, investors watching oil prices go higher, and then the backdrop for that, economic data that Josh rightly described as tepid earlier, retail sales in particular getting a lot of attention, falling 9/10ths of 1%, including a drop in auto sales. So all of that combining for declines across the board here. I also wanted to look at sort of the leaderboard here of some of the leading groups that we watch, and all the way here in the right hand corner, in deep dark red, you see tan. This is the Invesco solar ETF, down 9% on the day, large double digit declines for many of the components of this ETF, as we saw in the Senate version of the tax bill, a phase out of solar credits in the next four years. So, many of those stocks seeing steep declines. Bitcoin, remember yesterday, this was on the upper left hand corner. So, risk off today expressing itself in selling of things like Bitcoin. Homebuilders down after disappointing read on home builder confidence, and then we continue to see some of the other more risk-on groups ark, which we have been watching go up in recent days, down today. And if you look at the sectors within the S&P 500, energy yes in the green, discretionary healthcare falling, as there has been, again, the president talking about pharmaceutical tariffs coming very soon. They haven't come yet, but the group trading lower here. So seeing a lot of red on the screen here. And what's interesting that we noticed earlier today, that we talked about a little bit at the top of the show with Michael Casino is when you're looking for where are people going for safety, well they're not going in gold today, at least. They have been going over the longer term, but down a little bit today. Silver though, catching a little bit, up by 2%, Josh. Thank you, Julie.