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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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Young men were getting a haircut ahead of Swedish festival - then they were shot dead

  • News source: BBC News - World
  • Replies: 0
  • Views: 4
The Swedish city Uppsala broke into party spirit this week - but the killing of hair salon customers still wearing their capes left many shaken.
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Public radio stations targeted for cuts by Trump have provided lifelines to listeners

  • News source: John Raby | The Associated Press and Jamie
  • Replies: 0
  • Views: 2
After Hurricane Helene devastated Asheville, North Carolina, the sound coming from open car windows as residents gathered on a street at the top of a ridge trying to get cell service last fall was Blue Ridge Public Radio. And as they stood in line for water or food, the latest news they had heard on the station was a frequent topic of conversation.

“The public radio station was alerting people what was going on,” said Lisa Savage, who volunteered at an area church after the hurricane.

Now public radio stations are being targeted for cuts by...
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Romania reruns controversial election after earlier vote annulled

  • News source: BBC News - World
  • Replies: 0
  • Views: 9
Romania's previous presidential election was cancelled over allegations of campaign fraud and Russian interference.
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Elon Musk's Starbase may soon be an official Texas city

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 8
The South Texas home of Elon Musk's SpaceX rocket company is on its way to becoming an official city with a galactic name: Starbase.

A vote Saturday to formally organize Starbase as a city was approved by a lopsided margin by a small group of voters who live there and are mostly Musk's employees at SpaceX.

Starbase is the facility and launch site for the SpaceX rocket program that is under contract with the Department of Defense and NASA, which hopes to send astronauts back to the moon and someday to Mars.

Musk first floated the idea of Starbase...
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How Carney's election win will change direction of trade war

  • News source: BBC News - World
  • Replies: 0
  • Views: 9
In his exclusive BBC interview, the Canadian Prime Minister indicates how he plans to tackle Trump.
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For America's European allies, Trump's first 100 days a time of reckoning, backlash

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 8
Normandy, France — The heroic D-Day landings in Normandy marked the beginning of the end of World War II, where thousands of the Americans who fell in the assault still rest in graves in northwestern France.

It was the sacrifice of the American and European Allied soldiers during the Normandy Invasion, and of course their great victory over the Nazis, that formed the bedrock of an alliance that has stood firm for more than 80 years.

Then, however, came President Trump's rhetoric and the ensuing tariff war.

"Europe has been very, very bad for us,"...
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Europeans react to Trump's first 100 days

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 6
This week, President Trump marked 100 days in office. For some Americans, it has been a time of smashing success. For others, it was chaos and danger. But for America's allies, it has been a time of reckoning and backlash. Elizabeth Palmer has more.
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Trump's AI photo of him as pope sparks worldwide outrage

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 10
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: 9
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: 12
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: 9
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: 9
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: 10
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: 11
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: 13
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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