Latest news with #Washington-area
Yahoo
5 days ago
- Business
- Yahoo
‘Its corruption' PA Rep. aims to block $TRUMP, other crypto deals for public officials
PENNSYLVANIA (WTAJ) — A Pennsylvania Representative is attempting to block President Donald Trump-style cryptocurrency from being used by public officials. In January 2025, days before being sworn in, Trump launched a cryptocurrency called '$TRUMP,' which is currently worth $10.74 per stock. The currency was marketed as a 'meme coin,' with no real utility and no 'regulatory oversight,' according to Representative Ben Waxman (D-Philadelphia). Waxman argued in his latest legislation that the $TRUMP currency is 'corruption, plain and simple.' $TRUMP coin is described as a cryptocurrency supporting the Trump administration and its 'conservative followers and Patriots,' according to In May, Trump held a contest for coin buyers, awarding the top 220 holders of the meme coin the opportunity to go to a dinner at Trump's Washington-area golf club. The top 25 holders also got to attend a reception as well, according to the Associated Press. Waxman argued that as the coin gains momentum, Trump then benefits financially either directly through ownership of large reserves or indirectly via related entities and promotional deals. Then, Trump pushes to roll back federal oversight of crypto markets, and in doing so, Waxman wrote that it shields Trump's own schemes from 'scrutiny.' The legislation aims to prohibit elected officials from profiting off cryptocurrency while in office. This would include launching, promoting or trading coins where they hold a personal financial interest. Waxman added that public service must 'never be a get-rich-quick scheme.' The Associated Press Contributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
6 days ago
- Politics
- Yahoo
Congressional letter obtained by AP outlines drastic job cuts expected at Voice of America
WASHINGTON (AP) — The Trump administration appointee overseeing the Voice of America has outlined job cuts that would reduce employment at the state-run news organization from over 1,000 people to 81. The Voice of America, which has delivered news to countries all over the world for the better part of a century, has been largely silent for two months following an executive order by President Donald Trump. He believes Voice of America, and similar organizations like Radio Free Europe/Radio Liberty, have reported with a liberal bias. Most of VOA's employees have been on administrative leave since mid-March amid reports that layoff notices were forthcoming. Kari Lake, who has been overseeing the U.S. Agency for Global Media for Trump, outlined planned employment changes in a letter Tuesday to U.S. Sen. James Risch that was obtained by The Associated Press. Lake said Trump had directed the agency 'to reduce the performance of its statutory functions and associated personnel to the minimum presence and function required by law.' Some VOA employees are fighting for the organization's survival in court, and one of them — White House bureau chief Patsy Widakuswara — said Wednesday that it was absurd to think the staff could be cut to the levels Lake is suggesting. 'You can't make staff this size produce content for a global audience of 360 million weekly,' Widakuswara said. 'It's comical if it weren't so tragic. We're not just losing our jobs and journalism, we are abdicating our voice and influence in the world.' In April, a federal judge ruled that the administration illegally shut down VOA. But an appellate panel later said that a lower court did not have the authority to order that employees be brought back to work, keeping the agency in limbo. In court papers filed last week, lawyers for Widakuswara and fellow plaintiffs said the administration made a cursory attempt to indicate that VOA was operational by broadcasting five minutes of content to three provinces in Afghanistan on May 27. The Washington-area building where Voice of America has been operating has been put up for sale, while a lease has been canceled for a new building that the news operation was to move into, the court papers said. Lake's letter says the administration wants to keep 33 jobs overseen by her agency that broadcasts news to Cuba, along with two positions each to provide services to China and Afghanistan and in Farsi, the official language of Iran. Lake announced last month that the pro-Trump news outlet One America News Network had agreed to provide a feed of its newscasts to VOA and other state-run services that broadcast in other countries. It's not clear whether any OAN feeds have been used yet. ___ Bauder reported from New York. David Bauder And Aamer Madhani, The Associated Press Sign in to access your portfolio
Winnipeg Free Press
6 days ago
- Politics
- Winnipeg Free Press
Congressional letter obtained by AP outlines drastic job cuts expected at Voice of America
WASHINGTON (AP) — The Trump administration appointee overseeing the Voice of America has outlined job cuts that would reduce employment at the state-run news organization from over 1,000 people to 81. The Voice of America, which has delivered news to countries all over the world for the better part of a century, has been largely silent for two months following an executive order by President Donald Trump. He believes Voice of America, and similar organizations like Radio Free Europe/Radio Liberty, have reported with a liberal bias. Most of VOA's employees have been on administrative leave since mid-March amid reports that layoff notices were forthcoming. Kari Lake, who has been overseeing the U.S. Agency for Global Media for Trump, outlined planned employment changes in a letter Tuesday to U.S. Sen. James Risch that was obtained by The Associated Press. Lake said Trump had directed the agency 'to reduce the performance of its statutory functions and associated personnel to the minimum presence and function required by law.' Some VOA employees are fighting for the organization's survival in court, and one of them — White House bureau chief Patsy Widakuswara — said Wednesday that it was absurd to think the staff could be cut to the levels Lake is suggesting. 'You can't make staff this size produce content for a global audience of 360 million weekly,' Widakuswara said. 'It's comical if it weren't so tragic. We're not just losing our jobs and journalism, we are abdicating our voice and influence in the world.' In April, a federal judge ruled that the administration illegally shut down VOA. But an appellate panel later said that a lower court did not have the authority to order that employees be brought back to work, keeping the agency in limbo. In court papers filed last week, lawyers for Widakuswara and fellow plaintiffs said the administration made a cursory attempt to indicate that VOA was operational by broadcasting five minutes of content to three provinces in Afghanistan on May 27. Weekly A weekly look at what's happening in Winnipeg's arts and entertainment scene. The Washington-area building where Voice of America has been operating has been put up for sale, while a lease has been canceled for a new building that the news operation was to move into, the court papers said. Lake's letter says the administration wants to keep 33 jobs overseen by her agency that broadcasts news to Cuba, along with two positions each to provide services to China and Afghanistan and in Farsi, the official language of Iran. Lake announced last month that the pro-Trump news outlet One America News Network had agreed to provide a feed of its newscasts to VOA and other state-run services that broadcast in other countries. It's not clear whether any OAN feeds have been used yet. ___ Bauder reported from New York.
Yahoo
6 days ago
- Politics
- Yahoo
Congressional letter obtained by AP outlines drastic job cuts expected at Voice of America
WASHINGTON (AP) — The Trump administration appointee overseeing the Voice of America has outlined job cuts that would reduce employment at the state-run news organization from over 1,000 people to 81. The Voice of America, which has delivered news to countries all over the world for the better part of a century, has been largely silent for two months following an executive order by President Donald Trump. He believes Voice of America, and similar organizations like Radio Free Europe/Radio Liberty, have reported with a liberal bias. Most of VOA's employees have been on administrative leave since mid-March amid reports that layoff notices were forthcoming. Kari Lake, who has been overseeing the U.S. Agency for Global Media for Trump, outlined planned employment changes in a letter Tuesday to U.S. Sen. James Risch that was obtained by The Associated Press. Lake said Trump had directed the agency 'to reduce the performance of its statutory functions and associated personnel to the minimum presence and function required by law.' Some VOA employees are fighting for the organization's survival in court, and one of them — White House bureau chief Patsy Widakuswara — said Wednesday that it was absurd to think the staff could be cut to the levels Lake is suggesting. 'You can't make staff this size produce content for a global audience of 360 million weekly,' Widakuswara said. 'It's comical if it weren't so tragic. We're not just losing our jobs and journalism, we are abdicating our voice and influence in the world.' In April, a federal judge ruled that the administration illegally shut down VOA. But an appellate panel later said that a lower court did not have the authority to order that employees be brought back to work, keeping the agency in limbo. In court papers filed last week, lawyers for Widakuswara and fellow plaintiffs said the administration made a cursory attempt to indicate that VOA was operational by broadcasting five minutes of content to three provinces in Afghanistan on May 27. The Washington-area building where Voice of America has been operating has been put up for sale, while a lease has been canceled for a new building that the news operation was to move into, the court papers said. Lake's letter says the administration wants to keep 33 jobs overseen by her agency that broadcasts news to Cuba, along with two positions each to provide services to China and Afghanistan and in Farsi, the official language of Iran. Lake announced last month that the pro-Trump news outlet One America News Network had agreed to provide a feed of its newscasts to VOA and other state-run services that broadcast in other countries. It's not clear whether any OAN feeds have been used yet. ___ Bauder reported from New York.
27-05-2025
- Business
Trump's top meme coin investors visit White House
Despite repeated claims from the White House that President Donald Trump's Thursday night gala for the top holders of his cryptocurrency meme coin had nothing to do with his official duties, several of those investors visited the White House Friday afternoon for what they described as a special VIP event, the attendees told ABC News. Sangrok Oh, a Korean crypto investor and entrepreneur, told ABC News on Friday that he and other top investors had been invited to tour the White House Friday afternoon, though it was not clear to him whether Trump himself would meet them. "So, we're going to visit and tour the White House [and] at the same time talk about crypto industries and the future of crypto," Oh said. Thursday night's black tie event, held at Trump's Washington-area golf club, was attended by around 200 cryptocurrency traders, including many from overseas, who gained admission through a contest that awarded invitations to the top investors in Trump's meme coin -- with at least some of the funds flowing directly into the Trump family's coffers. Critics have blasted the gala as a "pay for play" event in which investors who poured millions into Trump's crypto coin got special access to the president. News that top $TRUMP coin investors visited the White House appeared to contradict White House Press Secretary Karoline Leavitt's assertion Thursday that the president was attending the crypto gala in a personal capacity, and that since the dinner did not take place at the White House, it was separate from his official duties. "The president is attending [the dinner] in his personal time," Leavitt said Thursday. "It is not a White House dinner. It's not taking place here at the White House." The White House did not immediately respond on Friday to a request for comment from ABC News. Cherry Hsu, an executive at MemeCore, a Singapore-based blockchain startup, said the firm's founder, known publicly as "Ice," had also been invited to the White House on Friday afternoon. MemeCore, according to the contest leaderboard, finished second in the competition with $TRUMP coin holdings in excess of $1 million. And late Friday, Justin Sun, a Chinese crupto mogul and the top investor in Trump's meme coin, posted a highly produced video of his White House tour, writing on X, "Was an honor to be invited to tour the @WhiteHouse. Such a privilege to see it in person." In addition to his multimillion-dollar investment in the $TRUMP coin, Sun has also invested $75 million in World Liberty Financial, another Trump-backed crypto venture. One month after that investment, SEC lawyers under the Trump administration moved to halt an alleged fraud case against Sun. The Trump meme coin's website at one point earlier this month advertised a "Special VIP White House tour" for the top 25 meme coin holders as part of the contest -- but as of last week, the site said only that a "Special VIP tour" would be arranged, without mentioning the White House. The site also included a disclaimer saying the tour was being arranged by the Fight Fight Fight LLC, and that the president himself would be appearing as a "guest."
