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Today's Political News Compilation - Friday, May 2, 2025

May 02
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Below are some of the top political news stories of the day:


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AP Photo

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Trump family's net worth has increased by $2.9 billion thanks to crypto investments, new report says​

By Madeleine May and Ji Ling Kent

President Trump's venture into crypto products has increased his family's wealth by billions in the last six months, according to a new report, as his administration continues to loosen the federal government's regulatory approach to the digital currency industry as a whole.

The group State Democracy Defenders Action estimated in a new report
that the president's crypto holdings now represent nearly 40% of his net worth — or approximately $2.9 billion. That increase is due in part to his release of the $TRUMP and $MELANIA meme coins, in addition to a large stake in World Liberty Financial, a crypto exchange affiliated with the Trump family that launched in October 2024. State Democracy Defenders Action identifies itself as non-partisan, but it is overseen by frequent critics of President Trump, with an agenda focused on "the autocratic threat to our nation."

The president's net worth is expected to get another bump, with World Liberty Financial's announcement this week that a Abu Dhabi-backed firm will invest billions of dollars in the Trump family-affiliated crypto fund. The Emirati firm, MGX, will purchase $2 billion in a stablecoin product offered by World Liberty, the company said in a statement to CBS. The currency, called "USD1" will then be used to invest in Binance, one of the world's largest cryptocurrency exchanges.

World Liberty has ties to the president and his sons.The fine print on the company's website says an entity affiliated with Mr. Trump and his family members own a 60% stake in the company.

According to the company's public reports, a Trump family entity also holds 22.5 billion of the $WLF tokens –- and takes an additional 75% in net revenue from future token purchases.

READ THE FULL STORY - AP

Judge permanently blocks Trump’s executive order targeting Democratic-tied law firm Perkins Coie | CNN Politics

A federal judge on Friday ruled that an executive order signed by President Donald Trump targeting a law firm that represented his 2016 presidential opponent was unconstitutional.
www.cnn.com

3 senior GOP senators slam Trump's defense budget for being too stingy

The senators say the one-time increase won't have the lasting effect of a permanent addition to the defense budget.
www.usatoday.com

Senate Republicans raise red flags about Trump's private dinner with his meme coin holders

Sen. Cynthia Lummis, R-Wyo., a strong Trump backer and a major voice on cryptocurrency regulation in the Senate, said the dinner "gives me pause."
www.nbcnews.com

The White House seeks sharp spending cuts in Trump's 2026 budget plan

The White House has released President Donald Trump’s 2026 budget proposal. It seeks to slash, if not zero out, spending on many government programs.
apnews.com

Former aide who refuted Trump's false 2020 election claims is under federal investigation

A spokesperson for the Department of Homeland Security said Chris Krebs is “under active investigation by law enforcement agencies” but declined to say why.
www.nbcnews.com

Judge blocks Trump executive order targeting elite law firm, a blow to his retribution campaign

A federal judge has blocked a White House executive order targeting an elite law firm, dealing a setback to President Donald Trump’s campaign of retribution against the legal profession.
apnews.com

Judge rules Trump executive order targeting law firm Perkins Coie is unconstitutional

U.S. District Judge Beryl Howell found the executive order targeting Perkins Coie violates First, Fifth and Sixth amendments.
www.cbsnews.com

Justice Ketanji Brown Jackson criticizes Trump's attacks on judges

Supreme Court Justice Ketanji Brown Jackson did not mention Trump by name during remarks in Puerto Rico but spoke about 'the elephant in the room'
www.usatoday.com

Trump admin live updates: Trump says he'll rename Veterans Day as 'Victory Day for World War I'

President Donald Trump said in a social media post that he is he is renaming Veterans Day, which is celebrated on November 11, as "Victory Day for World War I."
abcnews.go.com

Military parade to celebrate the Army's 250th anniversary will be held on Trump's birthday

The Army has confirmed there will be a military parade on President Donald Trump’s birthday in June, as part of the celebration around the service’s 250th birthday.
apnews.com

Donald Trump asks for huge spending increase on border, deportations

The president's plan would increase Homeland Security spending by two-third for one year.
www.usatoday.com

Brown University in GOP crosshairs after student's DOGE-like email kicks off frenzy

Rep. Troy Nehls, R-Texas, wrote to Brown University questioning its endowment and handling of a student who sent a DOGE-like email to staff.
www.foxnews.com

Trump 100 days: White House action plan makes Project 2025 look mild

Donald Trump tried to distance himself from the radical rightwing blueprint for government during the campaign but its prescriptions are all over the administration’s agenda
news.yahoo.com
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Latest Political News Feed

‘COME FOR ME’: AOC taunts Tom Homan after DOJ referral threat over deportations

  • News source: FOX News
  • Replies: 0
  • Views: 3
Queens, N.Y.: Rep. Alexandria Ocasio-Cortez, D-N.Y., threw down the gauntlet to Tom Homan on Friday after the border czar previously threatened to refer her to the Justice Department for giving advice to migrants on how to avoid being deported.

Ocasio-Cortez told attendees at a Queens town hall event that she was not afraid of the immigration hard-liners’ words in the wake of her office hosting a "Know your Rights" webinar in February. Homan has suggested her actions might be illegal and may impede Immigration and Customs Enforcement (ICE) from...
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Harvard professor reveals university was 'not ready' after Oct 7 as Trump revokes tax-exempt status

  • News source: FOX News
  • Replies: 0
  • Views: 6
An adjunct professor at Harvard spoke out Thursday after the Ivy League university’s president, Alan Garber, apologized as scathing internal reports exposed that antisemitism and Islamophobia were prevalent on campus.

Eugene Litvak, who teaches at the Harvard T.H. Chan School of Public Health, told Fox News Digital in an exclusive interview that one of the nation’s top universities "was not ready" for the anti-Semitic and anti-Islamic behavior that has plagued Harvard since the October 7 Hamas attack on Israel.

"Obviously, I was really, really...
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Tunisia jails ex-prime minister on terrorism charges

  • News source: BBC News - World
  • Replies: 0
  • Views: 6
Ali Laarayedh is the latest high-profile critic of the president to be jailed as campaigners slam "sham trials".
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Activists say ship aiming to sail to Gaza was attacked by drones

  • News source: BBC News - World
  • Replies: 0
  • Views: 5
The incident happened off the coast of Malta. The government said a fire onboard the ship was "brought under control overnight".
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Tariffs on car parts entering the US come into force

  • News source: BBC News - World
  • Replies: 0
  • Views: 8
Import taxes were eased after carmaker outcry, but it's "still a big tariff", analysts say.
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Wall Street stocks bounce back from Trump tariff losses

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
Investors were buoyed by a better-than-expected jobs report and rising hope of US-China trade talks.
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Five people survive 36 hours in alligator-infested swamp after plane crash

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
The small plane was forced to make an emergency landing in a swamp in the Bolivian Amazon after an engine failure.
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Brazil social security minister latest to quit in major pension fraud scandal

  • News source: BBC News - World
  • Replies: 0
  • Views: 6
The scheme allegedly saw pensioners defrauded of payments, with the diverted money shared among corrupt officials.
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How ordinary Poles are preparing for a Russian invasion

  • News source: BBC News - World
  • Replies: 0
  • Views: 12
After the election of Donald Trump, ordinary Poles fear they could be in Moscow's sights.
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Two dead after Peruvian navy ship hits oil platform in Amazon River

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
Thirty crew members were rescued from the vessel, while one person remains missing, Peru's defence ministry says.
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Rep. Mikie Sherrill suggests third Trump impeachment as she campaigns to be next New Jersey governor

  • News source: FOX News
  • Replies: 0
  • Views: 15
Rep. Mikie Sherrill, D-N.J., suggested impeaching President Donald Trump a third time to stop Republicans following the 2026 midterms, as she seeks to become the next governor of New Jersey.

"I think you have to test yourself. I think it’s not enough to take on one tough fight. I think there’s a lot of tough fights going on," Sherrill told supporters during a campaign event at Ridgeway Volunteer Fire Company Station 34 in Manchester Township on April 26, according to the New York Post.

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Brazil social security minister latest to quit in major pension fraud scandal

  • News source: BBC News - World
  • Replies: 0
  • Views: 13
The scheme allegedly saw pensioners defrauded of payments, with the diverted money shared among corrupt officials.
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Seven killed in tour bus crash near Yellowstone National Park

  • News source: BBC News - World
  • Replies: 0
  • Views: 10
A pickup truck and a tourist van collide on a highway near the famous attraction in eastern Idaho.
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Military parade to honour US Army will fall on Trump's birthday

  • News source: BBC News - World
  • Replies: 0
  • Views: 17
A "day-long festival" will be held in Washington DC with 6,600 soldiers, 150 vehicles and 50 aircraft.
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How ordinary Poles are preparing for a Russian invasion

  • News source: BBC News - World
  • Replies: 0
  • Views: 12
After the election of Donald Trump, ordinary Poles fear they could be in Moscow's sights.
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