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India Today
2 days ago
- Climate
- India Today
Wisconsin State Fair cancelled amid severe flooding and power failures
Flash flooding forced organisers to cancel the final day of the Wisconsin State Fair on Sunday after relentless heavy rain inundated the fairgrounds in West Allis, just outside decision came as water levels rose, making the grounds unsafe for visitors and staff. Officials expressed regret but stressed that public safety had to come first."We are saddened we cannot deliver this final day of the Wisconsin State Fair, but know that this is the best decision with current conditions and the forecast ahead," organisers said in a OUTAGES FORCE EMERGENCY CLOSURE Severe storms swept across parts of the Midwest, causing widespread power outages that left nearly 18,000 households in southeast Wisconsin without also led to stranded motorists abandoning vehicles and forced the closure of major roads. The National Weather Service reported up to 14 inches of rainfall in some areas around Milwaukee, resulting in river flooding and submerged CONCERNS HALT ANNUAL CELEBRATIONFirefighters responded to over 600 emergency calls, including rescues, flooded basements, and gas leaks. Shelters were opened to assist displaced residents. Authorities warned the public to avoid travelling on flooded streets, describing conditions as dangerous and unpredictable. Other scheduled events in the region, including USA Triathlon championships, were also cancelled due to the severe weather."We're still in the middle of it," Fire Chief Aaron Lipski told reporters Sunday. "We're still catching up right now."WILL THE FAIR BE RESCHEDULED?Organisers have not announced any plans to reschedule the cancelled day of the fair. Information on ticket refunds has not been released yet.- EndsWith inputs from Assocaited Press
Mint
19-07-2025
- Business
- Mint
‘GENIUS Act': Donald Trump signs cryptocurrency bills into law, hails it as ‘good for dollar'
US President Donald Trump on Friday signed into law a new set of regulations targeting a specific type of cryptocurrency, marking a significant step forward for an industry that has invested heavily in gaining legitimacy and political influence. The newly enacted GENIUS Act introduces foundational rules and consumer safeguards for stablecoin digital currencies pegged to assets such as the U.S. dollar to minimise price fluctuations. The legislation received strong bipartisan support in both the House and Senate, as reported by the Assocaited Press. The new law is meant to bolster consumer confidence in the crypto industry, which has quickly become a major power player in Washington thanks to massive campaign donations and spending on lobbying. Its passage comes as Trump had repeatedly pledged to make the U.S. the 'crypto capital of the world.' 'For years you were mocked and dismissed and counted out," Trump told crypto industry executives at a White House bill signing attended by about 200 people, including several top GOP lawmakers. 'This signing is a massive validation of your hard work and your pioneering spirit.' The crypto industry has long complained it was unfairly targeted by former President Joe Biden's administration and spent heavily to help Trump win last year's election. Trump lavished praise on crypto leaders during his speech Friday, saying 'nobody has gained the respect in such a short period of time.' Trump said helping the cryptocurrency industry was 'good for the dollar and it's good for the country.' 'That's why I backed you at an early stage,' said Trump, who had previously been a skeptic of cryptocurrency before embracing it. His administration has taken several early steps to boost the crypto industry, including the Securities and Exchange Commission dropping several enforcement actions against large crypto companies. Helping the cryptocurrency industry was good for the dollar and it's good for the country. A provision in the GENIUS Act bans members of Congress and their families from profiting off stablecoins. But that prohibition does not extend to the president and his family, even as Trump builds a crypto empire from the White House. His family holds a significant stake in World Liberty Financial, a crypto project that launched its own stablecoin earlier this year and received an early boost from an investment fund in the United Arab Emirates. This signing is a massive validation of your hard work and your pioneering spirit. Key Takeaways The GENIUS Act introduces foundational rules for stablecoins to enhance consumer confidence. Bipartisan support indicates a significant shift in political attitudes toward cryptocurrency regulation. Trump's administration aims to position the U.S. as the 'crypto capital of the world'.
