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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

White House suing Colorado, Denver over "sanctuary" policies

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 0
The White House has filed a lawsuit against the state of Colorado, the city of Denver and a list of local leaders. The suit claims state and city laws labeled as "sanctuary" policies are dangerous and hurting the Trump Administration's efforts to deport people who are here illegally.

The lawsuit was filed Friday in federal court in Denver. It specifically mentions the controversial apartment complex in Aurora which President Trump claimed last year had been taken over by a Venezuelan gang.

It calls out city ordinances and state laws like the one...
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AOC slams Trump administration during Friday night district town hall as 2028 White House talk swirls

  • News source: FOX News
  • Replies: 0
  • Views: 0
Rep. Alexandria Ocasio-Cortez, D-N.Y., blasted the Trump administration on issues ranging from free speech, DOGE spending cuts, and immigration at a Friday night town hall in Jackson Heights, Queens. At one point the four-term congresswoman called out border czar Tom Homan by name, challenging him to "come for me."

After speaking at a May Day protest in New York City on Thursday, rejecting Trump's agenda and warning protesters that Republicans "are going after Medicaid next," Ocasio-Cortez continued that message to New York's 14th congressional...
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Germany defends AfD extremist classification after Rubio slams '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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How Canada's Conservatives threw away a 27-point lead to lose again

  • News source: BBC News - World
  • Replies: 0
  • Views: 0
Leader Pierre Poilievre faces divisions within the Conservative movement as he fights to stay on as leader.
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Trump administration in talks with Rwanda to take deportees from U.S.

  • News source: Politics - CBSNews.com
  • Replies: 0
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Rwanda's government and the Trump administration are discussing details about a potential agreement for Kigali to accept deportees from the U.S., including Africans and other non-Rwandan nationals, CBS News has learned.
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How DOGE cuts may impact response to oil spill off Louisiana

  • News source: Politics - CBSNews.com
  • Replies: 0
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Former federal disaster response specialists and national environmental groups warn that DOGE job cuts may hamper the response to a major oil spill off Louisiana's Gulf Coast this week, a leak that is fast contaminating marshlands and threatening vital wildlife habitats and fisheries. Kati Weis reports.
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Hysterical town hall attendee interrupts AOC, yells about 'genocide' in Gaza: 'You're a liar!'

  • News source: FOX News
  • Replies: 0
  • Views: 3
A hysterical protester yelling about the "genocide" in Gaza interrupted a district town hall event being held by Rep. Alexandria Ocasio-Cortez, D-N.Y., shortly after it began on Friday night.

As Ocasio-Cortez first began speaking, she pulled up a PowerPoint presentation for the night's event. She was then interrupted before even getting through her first slide discussing the Trump administration's budget cuts, including alleged cuts to local healthcare systems.

"I am a healthcare worker and I want to know what you're doing about the genocide in...
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Wall Street stocks bounce back from Trump tariff losses

  • News source: BBC News - World
  • Replies: 0
  • Views: 3
Investors were buoyed by a better-than-expected jobs report and rising hope of US-China trade talks.
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US man gets 53 years for fatally stabbing Palestinian-American child

  • News source: BBC News - World
  • Replies: 0
  • Views: 3
Joseph Czuba was convicted for targeting the child and his mother over their Muslim faith shortly after the start of the Israel-Gaza war.
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'Unparalleled' snake antivenom made from man bitten 200 times

  • News source: BBC News - World
  • Replies: 0
  • Views: 3
Scientists hope to make a universal antivenom from the extraordinary blood of a man exposed to snake venom for decades.
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Trump downplays recession fears, saying the US would be ‘OK' in the long term

  • News source: Alexandra Marquez | NBC News
  • Replies: 0
  • Views: 3
President Donald Trump on Friday downplayed concerns about potential economic trouble, saying everything would be “OK” in the long term, even if the U.S economy experienced a recession in the short term.

Asked twice by “Meet the Press” moderator Kristen Welker whether it would be OK in the long run if there were a recession in the short term, the president said, “Look, yeah, it’s — everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically.”

Following up, Welker asked Trump if he was worried about a...
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Why this CEO supports Trump's 25% steel tariff

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 3
While many businesses are steeling themselves for trade war losses, the American steel industry has a brighter outlook. Elaine Quijano reports.
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Trump's military parade for Army's 250th may cost millions

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 3
President Trump has given Congress a budget blueprint for fiscal year 2026. But for now, a different spending plan -- one for a military parade to be held on the president's birthday -- is drawing closer attention in Washington. Ed O'Keefe has details.
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Australians voting in national election as Trump's influence looms

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 3
Australians are voting in a national election this weekend, and President Trump appears to be playing an outsized role as nations continue to respond to the vision of U.S. foreign policy he's put in place in the first 100 days of his second term.

Polling stations on the eastern coast of the country, which includes Sydney and Melbourne, opened Saturday at 8 a.m. local time and close at 6 p.m. (4 a.m. ET on Saturday). In Western Australia, which includes Perth, the poll closing time comes two hours later.

Australia's vote comes just a week after...
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How crypto has increased the Trump family's net worth

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 3
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...
Continue reading...
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