Elon Musk announced the formation of a new political party on Sunday, telling one of his followers on X that it will embrace Bitcoin as “fiat is hopeless.” Tesla CEO and tech entrepreneur Elon Musk has confirmed that his newly formed political party — the America Party — will accept Bitcoin. “Fiat is hopeless, so yes,” Musk replied to an X user who asked if his new party would embrace Bitcoin. Elon Musk is no stranger to Bitcoin as Tesla was an early adopter, holding BTC in its treasury. Read more
Two men who admitted to running a crypto scheme that defrauded 65 investors have both been sentenced to over five years in prison. The UK has sentenced two men to a combined total of 12 years in prison after they admitted to running a crypto scheme that stole over 1.5 million British pounds ($2 million) by cold-calling victims. The Financial Conduct Authority said on Friday that a central London court handed the scheme’s operators, Raymondip Bedi and Patrick Mavanga, their sentences after the pair pleaded guilty to multiple charges in November. Bedi was sentenced to five years and four months behind bars, while Mavanga was sentenced to six years and six months. Read more
The death toll from catastrophic floods in Texas reached at least 78 on Sunday, including 28 children, as the search for girls missing from a summer camp continued, and fears of more flooding prompted evacuations of volunteer responders. Larry Leitha, sheriff of Kerr County in Texas Hill Country, said 68 people had died in flooding in his county, the epicentre of the flooding, among them 28 children. Texas Governor Greg Abbott, speaking at a press conference on Sunday afternoon, said another 10 had died elsewhere in Texas and confirmed 41 were missing. US President Donald Trump sent his condolences to the victims and said he would probably visit the area on Friday. His administration had been in touch with Abbott, he added. “It’s a horrible thing that took place, absolutely horrible. So we say, God bless all of the people that have gone through so much, and God bless, God bless the state of Texas,” he told reporters as he left New Jersey. Among the most devastating impacts of the flooding occurred at Camp Mys...
Brics leaders at a summit on Sunday took aim at US President Donald Trump’s “indiscriminate” import tariffs and recent Israeli-US strikes on Iran. The 11 emerging nations — including Brazil, Russia, India, China and South Africa — account for about half the world’s population and 40 per cent of global economic output. The bloc is divided about much, but found common cause when it comes to the mercurial US leader and his stop-start tariff wars — even if it avoided naming him directly. Voicing “serious concerns about the rise of unilateral tariff” measures, Brics members said the tariffs risked hurting the global economy, according to a summit joint statement. Trump fired back at the bloc directly on social media on Sunday night. “Any country aligning themselves with the Anti-American policies of Brics will be charged an additional 10 per cent Tariff. There will be no exceptions to this policy,” Trump wrote on his Truth Social platform. Earlier, Brics also offered symbolic backing to fellow member Iran, condemn...
Bitcoin trades 2% below ATH as analysts eye new records amid looming US tariff deadline and upcoming “Crypto Week” volatility. Bitcoin could set a new record high as early as this week, with all eyes trained on the United States’ trade tariff deadline on Wednesday, which could unlock risk appetite, along with an upcoming “Crypto Week” in the country’s capital. “Bitcoin is likely to set a new all-time high this week or next,” the head of research at 10x Research, Markus Thielen, told Cointelegraph on Monday. He added that post-July 4th seasonality “tends to be bullish, and markets have largely shrugged off tariff-related risks.” Read more