Latest news with #Massad
Yahoo
15-05-2025
- Business
- Yahoo
Donald Trump says he's our ‘crypto president,' but he's tanking its best shot at adoption
Donald Trump said on the campaign trail ahead of his election that he intended to be the 'crypto president.' But his vision and reality have collided in a way that could ultimately do more harm than good to crypto's broader adoption in the years ahead. These stunning photos show how nature came back after the world's largest dam removal project Bald eagle live cam update: Now you can watch Big Bear's famous eaglets leave the nest If you happen to have a tattoo of the Mountain Dew logo, we have some great news for you Last week, the U.S. Senate dealt the cryptocurrency industry a significant setback, voting to block further advancement of the GENIUS Act, a bill aimed at establishing regulatory guardrails for dollar-pegged stablecoins by classifying them as securities under the jurisdiction of the Securities and Exchange Commission. The surprise collapse of the act—which had passed through the Senate Banking Committee with Democratic support—stems from several factors, says Timothy Massad, a former chair of the Commodity Futures Trading Commission. One major issue, according to Massad, is the bill's quality. 'It didn't address some key concerns,' he tells Fast Company. Bipartisan negotiations to refine the bill's language were ongoing, he adds, but a larger obstacle loomed: the president of the United States. Trump is a vocal supporter of crypto, so much so that some view him as too deeply involved in the industry and too likely to benefit financially from any policy decisions he makes to be a neutral actor in shaping crypto adoption. First, World Liberty Financial—a crypto firm run by Trump's sons—announced that its new USD1 stablecoin would serve as the conduit for a $2 billion investment from Abu Dhabi's MGX fund into Binance, the world's largest exchange. At the same time, the president's $TRUMP meme coin, launched in January and already responsible for $320 million in trading fees, stands to gain from favorable crypto regulation. In March, Trump also named five tokens that the U.S. would begin stockpiling as part of a new crypto strategic reserve. Critics argue that these ventures blur the line between policymaker and market participant. 'Trump has been so brazenly self-dealing and corrupt that it has given some Democrats pause,' says Corey Frayer, a former Senate Banking Committee aide. Massad agrees. 'Both the activities of the president that many people feel are corrupt and entirely inappropriate, coupled with the weaknesses in the bill, led Democrats to say, 'We can't support this,'' he says. White House press secretary Karoline Leavitt has stated that 'the president is abiding by all conflict of interest laws.' But the perception of personal benefit has already derailed what many saw as crypto's best chance at mainstream legitimacy. 'It's a source of incredible conflict and potential bribery,' Massad says. Trump's involvement—and the potential for him to profit from crypto-related policy decisions—has forced lawmakers to scrutinize their choices more carefully, including whether to legitimize stablecoins. 'Stablecoins don't do anything that we don't already do more efficiently in the financial system,' Frayer says. That doesn't necessarily mean the bill is dead, or that Trump will get a pass for what critics see as self-serving actions. 'There's been this basic agreement that it is bad when politicians use their position to benefit themselves,' Frayer says, referencing support for legislation to ban lawmakers from trading stocks based on insider knowledge. 'This is the exact same type of issue,' he continues. 'It crosses party lines. At least up until now, there has been a bright line at corruption.' But the key phrase, as Trump knows all too well, is 'up until now.' This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
15-05-2025
- Business
- Zawya
RAK Ceramics set to launch plant in Saudi Arabia
RAK Ceramics, which is listed on the Abu Dhabi stock market, is awaiting gas supplies to launch its first production unit in Saudi Arabia as part of an ambitious expansion plan, the Company's CEO said on Thursday. 'The Saudi market is a promising one…the company will transition from distribution to both production and distribution in Saudi Arabia by establishing a factory there, which is awaiting gas supplies,' Massad said. He said production in the four sectors in which the company operates is growing, with the total capacity of the ceramic factories reaching 118 million square metres, which makes the company among the top 5 ceramics producers in the world. As for the Company's performance, he said profits were affected in the first quarter due to the significant increase in shipping prices, noting that the current situation is improving, which will positively impact profits in the coming period. He noted that debt-to-EBITDA ratio stands at below 2.5 times, which is comfortable for the company. He revealed that there are facilities from banks and cash flows from operations that support expansion plans. Masada said there was growth in operations in the UAE and Saudi Arabia in the first quarter and the Gulf remains the Company's largest market, followed by Europe. In 2022, RAK Ceramics said it has signed an agreement with Saudi authorities to build a plant in the Western Yanbu industrial zone at a cost of 500 million UAE dirhams ($136 million). (Writing by Nadim Kawach; Editing by Anoop Menon) (
Jordan Times
13-03-2025
- Business
- Jordan Times
YU advances in 2025 QS world university rankings
AMMAN — Yarmouk University (YU) achieved advanced results in the QS World University Rankings by Subjects for 2025, reflecting the university's vision of academic development and excellence. According to the ranking results, the university was advanced for the first time in the two general axes, social sciences and management, achieving a 501-550 range, while it landed 451-500 in engineering and technology areas. The university also achieved "notable" progress in general subjects, mainly arts and humanities, ranking 401-450 internationally, while maintaining its position in archaeology at 201-260 worldwide, the Jordan News Agency, Petra, reported. At the specialisation level, the university "successfully" entered this ranking for the first time for a slew of sub-majors. In languages, it was ranked 301-350 and moved to 501-600 internationally in the mathematics field. Additionally, the university achieved a "remarkable" academic achievement in the medical field, as it entered the ranking for the first time, reaching a global range of 701-750. In the same context, the university recorded "remarkable" academic progress in computer and information science, reaching a global rank of 401-450. The ranking results also witnessed the university's progress in the field of business administration, ranking globally at 501-550. YU President Islam Massad said the university is "advancing rapidly on the path to excellence and innovation through its commitment to embodying quality principles" in its curricula, research, and academic plans. Massad noted this effort reflected in the "remarkable" progress in global rankings, which is an "important" indicator for labour markets, as global employers seek to attract qualified graduates from universities with advanced global rankings.
