In Stablecoins We Trust?
Four crypto and blockchain experts discuss the future of stablecoins and the global rise of the digital dollar.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
17 minutes ago
- Bloomberg
Trump Emergency Order Halts Second Power Plant From Closure
The Trump administration ordered another power plant to remain operational by invoking emergency powers for a second time, a day before the facility in Pennsylvania was scheduled to close. Constellation Energy Corp. 's Eddystone Generating Station, which was set to shut down its last remaining units on Saturday, will be required to remain online under a Energy Department order, which invoked a section of federal law typically reserved for emergencies such as extreme weather events and war.
Associated Press
22 minutes ago
- Associated Press
States are rolling out red carpets for data centers. But some lawmakers are pushing back
HARRISBURG, Pa. (AP) — The explosive growth of the data centers needed to power America's fast-rising demand for artificial intelligence and cloud computing platforms has spurred states to dangle incentives in hopes of landing an economic bonanza, but it's also eliciting pushback from lawmakers and communities. Activity in state legislatures — and competition for data centers — has been brisk in recent months, amid an intensifying buildout of the energy-hungry data centers and a search for new sites that was ignited by the late 2022 debut of OpenAI's ChatGPT. Many states are offering financial incentives worth tens of millions of dollars. In some cases, those incentives are winning approval, but only after a fight or efforts to require data centers to pay for their own electricity or meet energy efficiency standards. Some state lawmakers have contested the incentives in places where a heavy influx of massive data centers has caused friction with neighboring communities. In large part, the fights revolve around the things that tech companies and data center developers seem to most want: large tracts of land, tax breaks and huge volumes of electricity and water. And their needs are exploding in size: from dozens of megawatts to hundreds of megawatts and from dozens of acres up to hundreds of acres for large-scale data centers sometimes called a hyperscaler. While critics say data centers employ relatively few people and pack little long-term job-creation punch, their advocates say they require a huge number of construction jobs to build, spend enormous sums on goods and local vendors and generate strong tax revenues for local governments. In Pennsylvania, lawmakers are writing legislation to fast-track permitting for data centers. The state is viewed as an up-and-coming data center destination, but there is also a sense that Pennsylvania is missing out on billions of dollars in investment that's landing in other states. 'Pennsylvania has companies that are interested, we have a labor force that is capable and we have a lot of water and natural gas,' said state Rep. Eric Nelson. 'That's the winning combination. We just have a bureaucratic process that won't open its doors.' It's been a big year for data centers Kansas approved a new sales tax exemption on goods to build and equip data centers, while Kentucky and Arkansas expanded pre-existing exemptions so that more projects will qualify. Michigan approved one that carries some protections, including requirements to use municipal utility water and clean energy, meet energy-efficiency measures and ensure that it pays for its own electricity. Such tax exemptions are now so widespread — about three dozen states have some version of it — that it is viewed as a must-have for a state to compete. 'It's often a nonstarter if you don't have them, for at least the hyperscalers,' said Andy Cvengros, who helps lead the data center practice at commercial real estate giant JLL. 'It's just such a massive impact on the overall spend of the data center.' Zoning, energy fights often frustrate developers In West Virginia, lawmakers approved a bill to create 'microgrid' districts free from local zoning and electric rate regulations where data centers can procure power from standalone power plants. Gov. Patrick Morrisey, a Republican, called the bill his 'landmark policy proposal' for 2025 to put West Virginia 'in a class of its own to attract new data centers and information technology companies.' Utah and Oklahoma passed laws to make it easier for data center developers to procure their own power supply without going through the grid while Mississippi rolled out tens of millions of dollars in incentives last year to land a pair of Amazon data centers. In South Carolina, Gov. Henry McMaster signed legislation earlier this month that eased regulations to speed up power plant construction to meet demand from data centers, including a massive Facebook facility. The final bill was fought by some lawmakers who say they worried about data centers using disproportionate amounts of water, taking up large tracts of land and forcing regular ratepayers to finance the cost of new power plants. 'I do not like that we're making customers pay for two power plants when they only need one,' Senate Majority Leader Shane Massey told colleagues during floor debate. Still, state Sen. Russell Ott suggested that data centers should be viewed like any other electricity customer because they reflect a society that is 'addicted' to electricity and are 'filling that need and that desire of what we all want. And we're all guilty of it. We're all responsible for it.' Some lawmakers are hesitant In data center hotspots, some lawmakers are pushing back. Lawmakers in Oregon are advancing legislation to order utility regulators to ensure data centers pay the cost of power plants and power lines necessary to serve them. Georgia lawmakers are debating a similar bill. In Virginia, the most heavily developed data center zone in the U.S., Gov. Glenn Youngkin vetoed a bill that would have forced more disclosures from data center developers about their site's noise pollution and water use. In Texas, which endured a deadly winter blackout in 2021, lawmakers are wrestling with how to protect the state's electric grid from fast-growing data center demand. Lawmakers still want to attract data centers, but a bill that would speed up direct hookups between data centers and power plants has provisions that are drawing protests from business groups. Those provisions would give utility regulators new authority to approve those agreements and order big electric users such as data centers to switch to backup generators in a power emergency. Walt Baum, the CEO of Powering Texans, which represents competitive power plant owners, warned lawmakers that those provisions might be making data center developers hesitant to do business in Texas. 'You've seen a lot of new announcements in other states and over the last several months and not as much here in Texas,' Baum told House members during a May 7 committee hearing. 'I think everybody right now is in a waiting pattern and I worry that we could be losing to other states while that waiting pattern is happening.' ___ Follow Marc Levy on X at
CNN
30 minutes ago
- CNN
‘Well, we all are going to die': GOP Senator defends Medicaid cuts in heated town hall
GOP senator pressed on Medicaid in heated town hall GOP Sen. Joni Ernst faced concerns from town hall attendees over potential cuts to Medicaid and SNAP programs as a result of President Donald Trump's sweeping domestic policy bill, saying at one point, 'Well, we all are going to die,' and insisting that those who are eligible for Medicaid will continue to receive payments. 01:12 - Source: CNN Fareed Zakaria breaks down Trump's tariff battle CNN's Fareed Zakaria breaks down what's going on with President Donald Trump's battle with the Supreme Court over tariffs. 00:58 - Source: CNN Hear from the athlete at center of Trump threat on trans sports If high school track standout A.B. Hernandez competes at the state championship, California's federal funding may be in doubt. President Donald Trump has promised to cut the funds if the transgender teen is allowed to compete. CNN's Julia Vargas Jones reports. 02:07 - Source: CNN President Trump's timeline for things seems to almost always be 'in two weeks' President Donald Trump told reporters it will take about 'two weeks' to determine whether Russian President Vladimir Putin is serious about ending the war in Ukraine. That two week timeline, CNN's Abby Phillip says, is a familiar one. 01:48 - Source: CNN President Trump is on a pardoning spree President Donald Trump used his pardon power to grant clemency to a wave of individuals who had been convicted of crimes that range from public corruption, guns and even maritime-related offenses, according to multiple officials. CNN's Kaitlan Collins reports. 00:53 - Source: CNN Trump responds to Wall Street term 'TACO': Trump Always Chickens Out President Donald Trump was asked about "TACO," an acronym that means "Trump Always Chickens Out," which is used by Wall Street workers for his on-and-off approach to tariffs. Calling it "the nastiest question," Trump defended his tariff policy by calling it "negotiation." 01:13 - Source: CNN Harvard students and faculty speak out against Trump Harvard students and faculty spoke to CNN ahead of commencement as Donald Trump said the university should cap foreign enrollment. The Trump administration has recently sought to cancel $100 million in contracts with the school. 02:03 - Source: CNN Trump says new Russia sanctions could hurt peace talks President Donald Trump expressed concern that levying new sanctions against Russia in response to their continued strikes in Ukraine could jeopardize peace talks between the two nations. 00:51 - Source: CNN Trump voter may lose his job because of Trump policies CNN's John King visits one of the country's top targets of the 2026 midterms — Pennsylvania's 7th Congressional District — and speaks to a Trump voter who is in danger of being laid off due to the President's tariffs. 01:11 - Source: CNN He voted for the first time at 55. Hear why CNN's John King visits one of the country's top targets of the 2026 midterms — Pennsylvania's 7th Congressional District — and hears why, at 55, one man felt compelled to vote in a presidential election for the first time in his life. 01:04 - Source: CNN DEI leader: Trump's agenda 'instills fear' CNN's John King visits one of the country's top targets of the 2026 midterms — Pennsylvania's 7th Congressional District — where a leader of a DEI program tells him what she's doing to prepare for possible funding cuts. 00:48 - Source: CNN NYC Mayor Eric Adams defends Trump relationship New York City Mayor Eric Adams speaks with CNN's Maria Santana about his controversial relationship with President Donald Trump, which has garnered close attention after the Department of Justice recommended his criminal charges be dropped. 01:07 - Source: CNN Trump directs federal agencies to cancel Harvard contracts The White House is directing federal agencies to cancel all remaining contracts with Harvard University – about $100 million in all, two senior Trump administration officials told CNN – the latest barb against the school as it refuses to bend to the White House's barrage of policy demands amid a broader politically charged assault on US colleges. 01:15 - Source: CNN Finland's president responds to Russian military activity along border CNN's Erin Burnett speaks with Finland's President Alexander Stubb about his country ramping up its military to deter potential Russian aggression. 02:16 - Source: CNN Trump pardons reality TV couple Todd and Julie Chrisley President Donald Trump has signed full pardons for imprisoned reality show couple Todd and Julie Chrisley, who were sentenced to lengthy prison terms in 2022 for a conspiracy to defraud banks out of more than $30 million, according to a White House official. CNN's Kaitlan Collins reports. 01:07 - Source: CNN Trump: 'I don't know what the hell happened to Putin' Speaking to reporters before boarding Air Force One in Morristown, New Jersey, President Donald Trump said that he was 'not happy with what Putin is doing', after Moscow launched its largest aerial attack of its three-year full-scale war on Ukraine overnight. 00:50 - Source: CNN Trump visits Arlington National Cemetery on Memorial Day President Donald Trump honors fallen service members at Arlington National Cemetery on Memorial Day. 00:27 - Source: CNN Johnson pressed on Medicaid cuts in spending bill CNN's Jake Tapper asks House Speaker Mike Johnson about who will lose Medicaid under President Donald Trump's 'big, beautiful bill'. Johnson defends the proposed cuts and argues the changes target "waste, fraud and abuse." 01:30 - Source: CNN Is the U.S. on the brink of fiscal crisis? President Trump's economic agenda is expected to add nearly $4 trillion to the US national debt. CNN's Phil Mattingly breaks down what that could mean for the economy. 01:48 - Source: CNN
