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The president-elect and the world’s richest man combined Wednesday to smash a short-term spending compromise orchestrated by Republican House Speaker Mike Johnson to keep the government open until early in Trump’s new term. The stop-gap measure is packed with nearly $100 billion in aid for Americans hit by multiple national disasters, economic aid for farmers, a federal commitment to rebuild Baltimore’s Francis Scott Key Bridge and a criminalization of revenge porn. But the Trump-Musk blocking maneuver plunged the capital into one of its classic year-end crises, pitched Johnson’s hopes of keeping his job into extreme doubt and offered a preview of the chaos that may churn in Trump’s second term. #Elonmusk #Donaldtrump
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El Salvador, which is looking to unlock $3.5 billion from the International Monetary Fund, has agreed to some bitcoin (BTC) concessions to get the money. The nation will have to wind down or sell its Chivo crypto wallet, make bitcoin acceptance voluntary in the private sector and make taxes payable only in U.S. dollars. Chivo failed to take off on a national level despite offering $30 for Salvadorans to sign up.
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Everything lost? #BTCNextMove
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Amazon founder and Washington Post owner Jeff Bezos has become the latest billionaire to meet Donald Trump at his Florida resort. He was seen entering Mar-a-Lago on Wednesday night on his way to dinner with the president-elect, in video posted on social media. US media reported that Elon Musk joined the pair. Mr Musk later tweeted "it was a great conversation". Mr Bezos has pledged $1m (£780,000) to Trump's inauguration fund, one of a number of donations pledged by tech bosses. Mr Bezos has large business interests with the US government through several of his companies, including Amazon's cloud computing division and Blue Origin, his space exploration company.
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If you've been watching bitcoin, you probably noticed the pullback yesterday. It dropped from $108,000 to $99,000 after the FOMC meeting, where the Fed cut rates, and Jerome Powell, the Fed Chair, when asked about the Strategic Bitcoin Reserve, said: "We're not allowed to own bitcoin and not looking for a law change.". The market, as usual, overreacted by dumping bitcoin. But let me tell you: This dip? It's nothing to worry about.
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