New court filings allege that the creators of the $MELANIA cryptocurrency, launched by Melania Trump, orchestrated a pump-and-dump scheme. The coin’s value surged to $13.73 shortly after its January release before plummeting to mere cents, mirroring the trajectory of Donald Trump’s $TRUMP coin. Investors accuse executives of the Meteora exchange platform of manipulating the market by indirectly purchasing large quantities of the coin and then reselling them for profit. This case has been added to existing legal proceedings, while the Trump family has reportedly earned significant profits from various cryptocurrency ventures.
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In a recent letter, House Democrats Jamie Raskin and Robert Garcia warned President Trump against his efforts to secure $230 million in taxpayer funds from the Department of Justice. The congressmen asserted that such a move is both unconstitutional and illegal, citing the Domestic Emoluments Clause and the Federal Tort Claims Act. Trump is seeking these funds as compensation for past DOJ investigations, requiring approval from Deputy Attorney General Todd Blanche and Civil Division head Stanley Woodward Jr., both of whom have previous ties to Trump. The letter condemns this as an attempt to steal from the American people and demands the White House provide extensive documentation related to the matter.
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Major corporations from the tech, defense, and crypto industries, along with billionaire Trump supporters, are funding the construction of a new $300 million ballroom at the White House. This project, which began with the demolition of the East Wing, has raised concerns about transparency, with House Democrats rebuking the lack of public disclosure and proper consultation. Despite the demolition starting without prior announcement, President Trump claims the project is privately funded, yet he has contradicted his previous statements regarding its impact on the existing structure. Furthermore, the National Trust for Historic Preservation has stated that the project is legally required to undergo a public review process.
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Former Binance CEO Changpeng Zhao, who pleaded guilty to money laundering charges, has been pardoned by President Trump. The White House justified the pardon by citing the Biden administration’s alleged “war on cryptocurrency” and lack of fraud victims in Zhao’s case. Senator Elizabeth Warren criticized the pardon, labeling it as “corruption” due to Zhao’s prior guilty plea and alleged support for Trump’s crypto ventures. Zhao’s pardon followed his November 2023 guilty plea and the company’s $4.3 billion settlement with the Department of Justice, where he was sentenced to only four months in jail.
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Following the viral images of the East Wing’s demolition for a $250 million ballroom, the White House defended the renovations as part of a “proud presidential legacy.” The Office of Communications highlighted historical renovations and additions made by previous presidents, such as a basketball court built by Barack Obama and a kitchen garden added by Michelle Obama. However, critics like former White House staffers Yemisi Egbewole and Karine Jean-Pierre expressed outrage, characterizing the project as a vanity endeavor, and a metaphor for Trump’s actions while the country faces economic hardships. Funding for the ballroom is being raised through donors, leading to further concerns about corruption and the prioritization of personal projects over public needs.
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A psychologist warns that Donald Trump is exhibiting significant signs of cognitive decline, including nonsensical speeches, memory lapses, and confusion, indicating a “massive increase” in clinical signs of dementia. These symptoms are exacerbating Trump’s “malignant narcissism,” potentially leading to more irrational and destructive behaviors. The former Johns Hopkins professor presented Trump’s recent addresses as examples of disordered thinking, marked by disjointed thought processes and phonemic paraphasia. Gartner suggests that Trump’s condition poses a grave risk, especially considering his access to the “nuclear football”.
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Stephen Miller, the White House deputy chief of staff for policy, is a key figure in the “Make America Great Again” movement. Miller is the originator of plans to utilize the Insurrection Act, and he has described the Democratic Party as a “domestic extremist organization.” His views include dismantling the Democratic Party before the mid-term elections and branding it as a sponsor of terrorism. Miller’s influence with Trump is significant, with his voice being one of the most influential in the President’s ear.
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North Carolina Republicans have successfully implemented a new congressional map, solidifying their electoral advantage by eliminating the state’s only competitive district. This controversial map, approved by a party-line vote in the state legislature, is expected to result in the GOP gaining an additional seat in the upcoming midterm elections. Despite protests from Democrats and public outcry, the plan will go into effect, potentially shifting the state’s congressional representation significantly. This move aligns with a broader push by Republicans, at the urging of Donald Trump, to redraw district lines across several states to maintain power.
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Cryptocurrency investors have filed a lawsuit alleging that the creators of the Melania coin, along with cofounders of Meteora and Kelsier Labs, engaged in a pump-and-dump scheme. The complaint accuses Benjamin Chow and Hayden Davis of using a “repeatable six-step ‘playbook'” to fraudulently inflate the value of the meme coin and others before selling them off, resulting in significant investor losses. The plaintiffs claim that Melania Trump’s name and likeness were used as “window dressing” to mislead investors into believing the venture was legitimate, despite the coin’s drastic devaluation since its launch. The case is expected to clarify token launch expectations and disclosures in the US, according to the plaintiffs’ attorney.
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The estimated cost of the new White House ballroom has surged to approximately $300 million, a significant increase from earlier projections. Construction has begun with the demolition of the East Wing, sparking criticism regarding the project’s necessity and potential impact on the historic structure. Concerns have been raised about transparency in funding, although the administration claims the project will be privately financed. Critics such as the National Trust for Historic Preservation have requested a pause on demolition, expressing worries about the size and design of the new ballroom, highlighting a need for review.
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John Q. Hosedrinker