Latest news with #Zhao
Yahoo
2 days ago
- Business
- Yahoo
Bitcoin price today: dips to $105k as Trump tariff uncertainty spurs profit-taking
Bitcoin retreated on Friday, extending a recent decline from record highs as heightened uncertainty over U.S. President Donald Trump's trade tariffs spurred sustained profit-taking in crypto. The world's largest crypto was set for mild weekly losses, as it retreated from last week's peaks. More corporate buying action failed to lift prices, after Gamestop announced it had purchased over $500 million worth of coins. Positive regulatory developments also offered limited support, as the Securities and Exchange Commission said it was dropping its lawsuit against crypto exchange Binance. Bitcoin fell 1.8% to $105,580 by 09:54 ET (13:54 GMT). Bitcoin faced extended profit-taking this week after it raced to a record high of over $111,000 last week. Risk appetite was dented by vastly contrasting signals on Trump's tariff plans. An appeals court ruled on Thursday to temporarily allow Trump's tariff agenda, after a federal trade court ruled to block his tariffs earlier this week. Trump lashed out against the judges involved in the trade court decision, and said he hoped that the Supreme Court will back his tariffs. But analysts warned that prolonged legal sparring over Trump's tariffs only stood to increase market uncertainty over their impact. Concerns over the economic impact of Trump's tariffs were a key weight on risk-driven assets this year, especially as a swathe of economic data pointed to U.S. weakness. But this notion was marginally offset by a revised reading on first quarter gross domestic product, which showed the U.S. economy shrank slightly less than initially estimated. The U.S. SEC on Thursday voluntarily dismissed its civil lawsuit against Binance, the world's biggest crypto exchange, reflecting a shift at the regulator from new management under the Trump administration. The SEC dropped its case against Binance and founder Changpeng Zhao with prejudice, meaning that it cannot pursue the case again. The regulator, under former Chair Gary Gensler, had sued Binance and Zhao in June 2023 on allegations of artificially inflation trading volumes, diverting customer funds, and unlawfully facilitating the trading of several crypto tokens that should have been registered as securities. The case was separate from Binance's November 2023 guilty plea, which saw the exchange slapped with a $4.32 billion penalty for violating federal anti money laundering laws. Zhao had served a four-month sentence in prison. Binance's token, BNB, showed little reaction to the SEC news, falling 1.1% to $674.20. Piper Sandler came away from the 2025 Bitcoin conference with a more upbeat view on the momentum building across Bitcoin and digital assets. The broker highlighted several key developments that could accelerate broader adoption, particularly among traditional financial institutions. One major theme was the expected passage of stablecoin legislation in the U.S., which Piper said 'will likely be a stepping stone for market structure legislation and could set off a domino effect of Bitcoin/digital asset adoption among traditional financial firms.' The firm also noted that corporate interest in holding Bitcoin on balance sheets is stronger than previously assumed. Other takeaways included the growing push to tokenize traditional financial assets to improve liquidity and efficiency, as well as increasing investor demand for Bitcoin-linked products. Piper analysts pointed to innovations like Bitcoin-backed bonds and gold-protected Bitcoin funds, and observed that MicroStrategy's Bitcoin strategy is inspiring 'copycats.' On the political front, both Senator JD Vance and Senator Cynthia Lummis reiterated their support for establishing a Bitcoin strategic reserve. Losses in Bitcoin spilled over into broader crypto markets. World no.2 crypto Ether fell roughly 3% to $2,584.70, while XRP fell 5% to $2.17. Solana and Cardano dipped 5% and 5.5%, respectively, while Polygon shed 4.7%. Among meme tokens, Dogecoin plunged 8.7%, while $TRUMP slid 7.5%. (Ambar Warrick contributed to this report.) Related articles Bitcoin price today: dips to $105k as Trump tariff uncertainty spurs profit-taking What's next for Bitcoin? Analysts react to Trump Media's $2.5B Treasury plan Stablecoin firm Circle targets $6.71B valuation in New York IPO Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Binance walks free but crypto's future still hangs on politics
Binance walks free but crypto's future still hangs on politics originally appeared on TheStreet. [From the Editor's desk] Binance, the world's largest cryptocurrency exchange, just walked out of one of the biggest crypto lawsuits in U.S. history, clean. The Securities and Exchange Commission (SEC) officially dropped its case against the exchange and its founder, Changpeng Zhao, bringing a messy, drawn-out legal fight to a quiet end. On paper, it's a massive win for Binance. But zoom out a bit, and the picture gets more complicated. For the industry, this is a relief. A big one. But it's also a reminder that just because the storm is passing doesn't mean the skies are clear. Let's rewind. Back in June 2023, the SEC came down hard on Binance, accusing the platform of operating illegally, commingling customer funds, and basically playing fast and loose with U.S. securities laws. It wasn't a great look, especially after Binance's global entity admitted to anti-money laundering violations and paid a jaw-dropping $4.3 billion fine. Zhao even got a four-month sentence. So yeah, this week's court filing? Big deal. The SEC dropped the case. immediately posted that this proves what they've always said: they didn't break U.S. securities they're talking growth, trust, and 'getting back to business.' But here's the thing — getting let off the hook doesn't erase the past two years. The lawsuits, the reputational hits, the lost partnerships, those scars don't just vanish overnight. Well, a lot, actually. Gensler is out. The SEC now has a new crypto task force, a new chair (Paul Atkins), and a new approach, one that's less about 'regulation by enforcement' and more about creating an actual rulebook for crypto. That's a huge shift. And yes, it's coming under Trump's administration. Love him or hate him, Trump has been good for crypto prices. Bitcoin has shot up more than 50% since his win. Vice President JD Vance is endorsing Bitcoin at conferences. And the shift is real—regulators seem more willing to work with the industry than against it. But let's not kid ourselves. Just because the SEC backed off this time doesn't mean everything's fixed. Gensler's crackdown did real damage. Builders fled. Banks shut their doors. Token listings dried up. And trust? Still shaky. Here's where things get a little murky. Reports surfaced earlier this year that Trump's family members were exploring investing in the U.S. arm of Binance. There were even whispers that Zhao was seeking a pardon. He later confirmed it. If crypto's fate in the U.S. depends on who's in office, we're not building a stable future. We're just playing a different kind of game. Regulation has to be bigger than politics. Otherwise, the industry's just one election away from getting back to the square said, this is a massive opportunity. The SEC stepping back gives the U.S. crypto industry room to breathe. Room to build. Room to finally show that it can grow responsibly, without regulators breathing down its neck. gets a second chance. So does the rest of the industry. But this time, the burden's on crypto to show it can play it straight: protect users, follow rules, and actually earn back the trust it lost. Because yeah, beating the SEC is a big deal. But it's not the end of the story, it's just the end of the first chapter. And if crypto really wants to win in America, this is where the hard part walks free but crypto's future still hangs on politics first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared.
Yahoo
2 days ago
- Business
- Yahoo
Burnout is at a 10-year high for U.S. workers
If you feel as though you've been hearing your colleagues, professional acquaintances, family or friends talk about burnout more than usual, you're not imagining it. According to a recent report by Glassdoor, burnout among U.S. professionals has escalated to unprecedented highs, with burnout mentions in employee reviews increasing 32 percent year-on-year as of Q1 2025. In fact, mentions of burnout have increased by 50 percent since Q4 2019, just before the Covid-19 pandemic began and irrevocably changed the world of work as we knew it. This marks the highest rate since data collection began in 2016. Executive Director, Office of Legislative Management, Hartford Political Action Committee Manager, AVMA, Washington D.C. Director of State Campaigns, American Promise, Concord Senior Policy Specialist, Arnold & Porter, Washington D.C. Senior Education Policy Counsel/Education Policy Advisor, Lawyers' Committee for Civil Rights Under Law, Washington D.C. While the term 'burnout' has become an all-encompassing phrase for everything from stress to lack of motivation, the World Health Organization describes burnout as a 'syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed.' The WHO characterizes burnout via 'three dimensions'. These include feelings of energy depletion or exhaustion; increased mental distance from one's job, or feelings of negativism or cynicism related to one's job; and reduced professional efficacy. It stressed that 'burnout refers specifically to phenomena in the occupational context and should not be applied to describe experiences in other areas of life.' However, it's hardly surprising that employees who are experiencing burnout are seeing the repercussions of its effects in other areas of their lives. The Glassdoor report also identified that burnout can manifest as decreased morale and diminished perceptions of career opportunities (down 21 percent), diversity and inclusion (down 17 percent), work-life balance (down 34 percent), and compensation and benefits (down 15 percent). Additionally, the study found that employees who reference burnout tend to rate their employers significantly lower, averaging 2.68 out of 5, compared to a 3.61 average among those who don't mention burnout. Glassdoor's Lead Economist, Daniel Zhao, describes burnout as a 'slow-burn problem' that can erode the overall employee experience, even among those who are otherwise content with their workplace. 'As businesses trim budgets and headcounts, employees and managers alike are being asked to do more with less,' said Zhao. 'That's a recipe for burnout as workers are stretched increasingly thin without an end in sight.' He added: 'Employees who rate their employer 5 stars out of 5 are the least likely to apply to new jobs, but if they mention burnout in their reviews, their turnover intentions increase by 58 percent. Similarly, for an employee who rates their employer 4 stars, their turnover intentions rise 66 percent.' And it's not just employees that are feeling the heat. Burnout imposed a significant financial burden on employers too. A study published in the American Journal of Preventive Medicine estimates that burnout costs employers between $4,000 and $21,000 per employee annually. For a company with 1,000 employees, this translates to an estimated $5.04 million in annual costs. While restructuring in the name of efficiency is one way to trim headcount, a negative work environment can also have a direct impact on talent retention. In fact, a survey by Isolved found that nearly 80 percent of employees have experienced burnout in the last year, resulting in lower engagement, reduced productising and an overwhelming feeling of restlessness that prompted 72 percent of existing employees to consider changing jobs within the next year. So how can employers address burnout and create meaningful solutions for their employees? While some companies have implemented stress-reduction programs and are giving staff access to mental health resources, focusing on individual responsibility doesn't work in the long term. Instead, implementing organizational changes that promote work-life balance, such as flexible working hours, four-day workweeks, childcare subsidies, and support for family care are what workers really crave. So what can you do if you find yourself burnt out and wondering what to do, or where to go next? Seeking out a company culture that prioritizes employee wellbeing is paramount in mitigating burnout and its associated costs and if you're navigating a job hunt, The Hill's Job Board is the perfect place to focus your daily with a range of roles in policy, communications, and related fields, it's an extremely valuable resource. Bookmark the link below, and visit regularly to stay up to date. Ready to find a new role? Browse thousands of jobs on The Hill Job Board Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
2 days ago
- Health
- The Hill
Burnout is at a 10-year high for U.S. workers
If you feel as though you've been hearing your colleagues, professional acquaintances, family or friends talk about burnout more than usual, you're not imagining it. According to a recent report by Glassdoor, burnout among U.S. professionals has escalated to unprecedented highs, with burnout mentions in employee reviews increasing 32 percent year-on-year as of Q1 2025. In fact, mentions of burnout have increased by 50 percent since Q4 2019, just before the Covid-19 pandemic began and irrevocably changed the world of work as we knew it. This marks the highest rate since data collection began in 2016. While the term 'burnout' has become an all-encompassing phrase for everything from stress to lack of motivation, the World Health Organization describes burnout as a 'syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed.' The WHO characterizes burnout via 'three dimensions'. These include feelings of energy depletion or exhaustion; increased mental distance from one's job, or feelings of negativism or cynicism related to one's job; and reduced professional efficacy. It stressed that 'burnout refers specifically to phenomena in the occupational context and should not be applied to describe experiences in other areas of life.' However, it's hardly surprising that employees who are experiencing burnout are seeing the repercussions of its effects in other areas of their lives. The Glassdoor report also identified that burnout can manifest as decreased morale and diminished perceptions of career opportunities (down 21 percent), diversity and inclusion (down 17 percent), work-life balance (down 34 percent), and compensation and benefits (down 15 percent). Additionally, the study found that employees who reference burnout tend to rate their employers significantly lower, averaging 2.68 out of 5, compared to a 3.61 average among those who don't mention burnout. Glassdoor's Lead Economist, Daniel Zhao, describes burnout as a 'slow-burn problem' that can erode the overall employee experience, even among those who are otherwise content with their workplace. 'As businesses trim budgets and headcounts, employees and managers alike are being asked to do more with less,' said Zhao. 'That's a recipe for burnout as workers are stretched increasingly thin without an end in sight.' He added: 'Employees who rate their employer 5 stars out of 5 are the least likely to apply to new jobs, but if they mention burnout in their reviews, their turnover intentions increase by 58 percent. Similarly, for an employee who rates their employer 4 stars, their turnover intentions rise 66 percent.' And it's not just employees that are feeling the heat. Burnout imposed a significant financial burden on employers too. A study published in the American Journal of Preventive Medicine estimates that burnout costs employers between $4,000 and $21,000 per employee annually. For a company with 1,000 employees, this translates to an estimated $5.04 million in annual costs. While restructuring in the name of efficiency is one way to trim headcount, a negative work environment can also have a direct impact on talent retention. In fact, a survey by Isolved found that nearly 80 percent of employees have experienced burnout in the last year, resulting in lower engagement, reduced productising and an overwhelming feeling of restlessness that prompted 72 percent of existing employees to consider changing jobs within the next year. So how can employers address burnout and create meaningful solutions for their employees? While some companies have implemented stress-reduction programs and are giving staff access to mental health resources, focusing on individual responsibility doesn't work in the long term. Instead, implementing organizational changes that promote work-life balance, such as flexible working hours, four-day workweeks, childcare subsidies, and support for family care are what workers really crave. So what can you do if you find yourself burnt out and wondering what to do, or where to go next? Seeking out a company culture that prioritizes employee wellbeing is paramount in mitigating burnout and its associated costs and if you're navigating a job hunt, The Hill's Job Board is the perfect place to focus your daily with a range of roles in policy, communications, and related fields, it's an extremely valuable resource. Bookmark the link below, and visit regularly to stay up to date. Ready to find a new role? Browse thousands of jobs on The Hill Job Board
Yahoo
2 days ago
- General
- Yahoo
China targets US military members in overseas spy operations, former CIA station chief warns
A former CIA station chief says China has U.S. military service members and government employees in the "crosshairs" of its overseas spy operations. Jian Zhao and Li Tian, both active-duty Army soldiers, were arrested in early March after allegedly selling "Top Secret" information to individuals based in China, according to the Department of Justice. Zhao and Tian were both indicted by federal grand juries in Washington and Oregon. Federal prosecutors allege Tian sold sensitive military information to former soldier Ruoyu Duan, who would allegedly receive money from individuals residing in China. Tian then allegedly received tens of thousands of dollars for selling the sensitive information. Included in the alleged documents Tian sold was a Google Drive link containing classified documents about the Stryker combat vehicle. Tian also allegedly sent additional sensitive data on U.S. weapons systems. Bombshell Report Suggests 'Chinese Spies' Infiltrating Prestigious Us University: 'Widespread Campaign' Prosecutors said the incidents highlight efforts by China to use "cut-outs," known as people trusted by Chinese intelligence services, to gather sensitive information that could help the Chinese government. Those "cut-outs" then recruit individuals with access to or knowledge of U.S. government information, which includes current and former government officials. Read On The Fox News App According to the court documents, security video showed Tian allegedly brought his personal cellphone into a classified area of Joint Base Lewis-McChord in Washington in May 2024, printed a classified document and left with it. He would allegedly return over three hours later with the document. Prosecutors also alleged that Tian took screenshots of sensitive information on several occasions. In a connected case at Joint Base Lewis-McChord, Zhao allegedly sold classified information to an unnamed co-conspirator. According to federal prosecutors, Zhao received at least $15,000 for the documents. Zhao allegedly sold 20 military hard drives to an individual in China, some containing a "Secret" label. Zaho allegedly conspired to sell information related to the High Mobility Artillery Rocket System as well as information related to U.S. military readiness if there was a war with China. "While bribery and corruption have thrived under China's Communist Party, this behavior cannot be tolerated with our service members who are entrusted with sensitive military information, including national defense information," said FBI Director Kash Patel on the charges. Former CIA station chief Dan Hoffman told Fox News Digital he thinks U.S. military service members as well as government employees are being targeted to take part in these spy operations. Former Us Army Intelligence Analyst Sentenced For Selling Sensitive Documents To Chinese National "I think anybody who serves in the U.S. government is in the crosshairs. And China will do it," Hoffman said. "Sometimes they'll run their recruitment operations posing as someone else. So maybe somebody doesn't want to go spy for China, but they might pretend to be somebody else. Or they might contact you on social media, on LinkedIn or some other site and pose as someone not so nefarious when in fact they are." Hoffman said gaining intel from the U.S. military is one of the Chinese government's "highest requirements." "They want to recruit U.S. military because there's a probability we might go to war with China, and not just U.S. military, but NATO members as well, and throughout Asia. So they've got a massive intelligence apparatus," he said. China isn't just targeting the U.S. military. It's targeting many other aspects of American society as well, including academia. Five former University of Michigan students were charged in October 2024 after they were allegedly caught spying on a National Guard training center for the Chinese government during a training session with the Taiwanese military. The former University of Michigan students were confronted by a Utah National Guard sergeant major in August 2023 near a lake at Camp Grayling in Michigan. Michael Sobolik, a senior fellow at the Hudson Institute focusing on U.S. and China relations, told Fox News Digital the Chinese Communist Party "will exercise whatever tactics they feel they need to by hook or crook to get our military secrets," adding China is "shameless." "This is a tactic that China is exercising in the new Cold War that we're locked in with the Chinese Communist Party. And one of the things that is really striking is the low price that a lot of Americans are willing to sell their patriotism for and their allegiance for. Some of these people didn't get that much money to sell some really sensitive military secrets over to the Chinese Communist Party," Sobolik said. Fox News' Michael Dorgan contributed to this article source: China targets US military members in overseas spy operations, former CIA station chief warns
