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New York Times
31 minutes ago
- New York Times
Quote of the Day: Pardons Prop Up Crimes of a Certain Collar
'Of course, stealing by fraud is still stealing. It's just that this is the way rich people do it.' BARBARA L. MCQUADE, a U.S. attorney in Michigan during the Obama administration, on how President Trump's pardons of white-collar criminals could normalize nonviolent offenses.
Yahoo
31 minutes ago
- Yahoo
$110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Pseudonymous crypto trader James Wynn, known for his high-leverage strategies, suffered losses exceeding $110 million after Bitcoin's (CRYPTO: BTC) price slipped below key support levels on Friday. Wynn had taken a bold bet on Bitcoin's upward trajectory, opening a massive $830 million long position on May 21, acquiring over 7,700 BTC at roughly $105,000 per coin. By May 24, he had increased his exposure to 11,588 BTC, pushing his position's value to $1.25 billion at an average cost of $108,243. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. However, the market turned sharply following U.S. President Donald Trump's announcement of a 50% tariff on EU exports, pushing Bitcoin below $105,000 and triggering large-scale liquidations of Wynn's leveraged holdings. According to Hypurrscan, Wynn faced a series of painful liquidations: 527 BTC worth $55 million was wiped out at $104,950, followed by another 422 BTC at $104,150, and a final 95.5 BTC at $104,620. In total, 1,044 BTC were liquidated over the week. Wynn expressed frustration over market integrity, posting on X: "I have exposed just how corrupt these markets are. Guess it's better to just buy and hold BTC on spot." Despite the drawdown, Wynn reportedly maintains a remaining long position of 1,591 BTC, worth approximately $167 million, with a high-risk 40x leverage and a liquidation threshold near $104,530. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock Send To MSN: Send to MSN This article $110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150 originally appeared on Sign in to access your portfolio
Yahoo
32 minutes ago
- Yahoo
Travis Kelce's Mom Reacts to Taylor Swift's Major Announcement
Travis Kelce's Mom Reacts to Taylor Swift's Major Announcement originally appeared on Athlon Sports. Travis Kelce returned to Kansas City this week for the start of Chiefs OTAs after spending the early part of the offseason training in Boca Raton, Florida for another NFL season. He rented a $20.3 million home there, where his girlfriend, 14-time Grammy winner Taylor Swift, was also spotted. Swift wrapped up The Eras Tour in December and has been enjoying her time off since then, but she made major headlines on Friday. She took to social media to announce that she had bought back her master recordings and music for her first six albums from Shamrock Capital. "All of the music I've ever made now belongs to me," Swift wrote in a letter. "I can't thank you enough for helping to reunite me with this art that I have dedicated my life to, but have never owned until now. The best things that have ever been mine… finally actually are." Kelce's mother, Donna Kelce, who has enjoyed many Chiefs games sitting next to Swift in their suite, reacted to the big news. With Swift limiting comments on her Instagram post, Donna liked it along with over six million others. Swift has been fighting for control of her music since 2019, when Scooter Braun's company, Hybe America, bought the rights to her first six albums from Big Machine, Swift's first record label. In 2020, the masters were then sold again to Shamrock Capital, per NBC. In response, she started re-recording those albums in 2021 to reclaim ownership. After years of back and forth, the battle is finally over after Friday. It's unclear how much she paid to regain ownership, but that's not what matters to her. What's important is that it's finally back in her hands. This story was originally reported by Athlon Sports on May 30, 2025, where it first appeared.
