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

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



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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















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Trump's AI photo of him as pope sparks worldwide outrage

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 0
President Trump's attempt at papal humor sparked worldwide outrage on Saturday. With the conclave just days away, the White House released an AI-generated photo of him in full pope attire.
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Trump's 25% tariff on imported auto parts kicks in

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 0
The latest shot in President Trump's global trade war was fired on Saturday. New tariffs on imported car parts took effect but the economy proved resilient. Willie James Inman has the latest.
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"CBS Weekend News" headlines for Saturday, May 3, 2025

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 0
Here's a look at the top stories making headlines on the "CBS Weekend News" with Jericka Duncan.
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Warren Buffett, 94, stepping down as Berkshire Hathaway CEO

  • News source: BBC News - World
  • Replies: 0
  • Views: 0
The veteran investor known as the Sage of Omaha told his company's annual meeting that he would hand over the reins to Vice-Chairman Greg Abel.
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Germany defends AfD extremist classification after Rubio criticises 'tyranny in disguise'

  • News source: BBC News - World
  • Replies: 0
  • Views: 0
Germany's foreign office says history shows that right-wing extremism "needs to be stopped", after criticism from the White House.
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Europe marks VE Day with Trump on its mind

  • News source: BBC News - World
  • Replies: 0
  • Views: 0
As Western alliances unravel, Europe is entering an era that seems distant from what VE Day represented, the BBC's Katya Adler writes.
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Trump criticised after posting AI image of himself as Pope

  • News source: BBC News - World
  • Replies: 0
  • Views: 5
The image, shared by White House social media accounts, comes as Catholics prepare to pick the next pontiff.
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Crowds flock to free Lady Gaga concert in Brazil

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
Lady Gaga fans gather for a massive concert on Copacabana beach, paid for by Rio de Janeiro city to help boost the economy.
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Fears of global instability drive Singapore voters into ruling party's arms

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
The People's Action Party won by a landslide in an election dominated by concerns over the cost of living and the economy.
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New post for Togo leader could see him rule for life

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
Faure Gnassingbé's new role has no official term limits and his critics say it is a "coup d'état".
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Retailers are turning the trade war into a sales event

  • News source: J.J. McCorvey | NBC News
  • Replies: 0
  • Views: 9
The add-to-cart callouts are widespread, and lately they’re coming with a trade war twist: buy now to beat the tariffs.

Retailers and e-commerce brands have been flooding social media in recent weeks with appeals to shoppers’ well-founded fears that President Donald Trump’s import taxes will raise prices, urging them to act now before that happens.

“Tariffs are rising — but our prices aren’t (for now)!” promised DTG Pro, a printing equipment seller, in a recent Instagram post with a 10% discount code.

“Unfortunately, the bridal industry is not...
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Fears of global instability drive Singapore voters into ruling party's arms

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
The People's Action Party won by a landslide in an election dominated by concerns over the cost of living and the economy.
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Canada's Carney offers strategic invite to King ahead of Trump meeting

  • News source: BBC News - World
  • Replies: 0
  • Views: 6
In his first news conference since the federal election, the PM laid out his approach to talks with his US counterpart.
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Trump draws criticism with AI image of himself as the pope ahead of the papal conclave

  • News source: Nicole Winfield | The Associated Press and Jill
  • Replies: 0
  • Views: 11
President Donald Trump has posted an artificial intelligence-generated image of himself dressed as pope.
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Trump shares AI-generated photo of him dressed as pope

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 10
President Trump shared an AI-generated photo of himself dressed as the pope just days after telling reporters that he'd "like to be pope."

The image – which Mr. Trump first posted on his social media platform Truth Social – was also shared by the White House's official social media account on Friday. It comes as cardinals from around the world are set to gather in Vatican City to choose Pope Francis' successor as the leader of the Catholic Church.

The image shows Mr. Trump seated in an ornate chair, dressed in white papal vestments and headdress...
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