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Senate Minority Leader Chuck Schumer defended his vote for a Republican spending bill to avert a government shutdown, asserting it was a principled decision to prevent greater harm from a shutdown, which he warned would empower Trump and Musk's Department of Government Efficiency. Despite backlash from within his party and calls for his resignation, Schumer emphasized the necessity of his vote to protect essential government services and avoid a situation where the executive branch could unilaterally determine what is deemed "essential." As tensions rise among Democrats, concerns about the party's direction and electability loom ahead of the 2026 midterms.
Elon Musk's recent Pentagon visit, initially reported as a briefing on potential war with China, was later clarified to be unclassified. Despite denials from Defense Secretary Pete Hegseth and President Trump, scrutiny arose over Musk's access to sensitive information, given his significant business ties to China, including Tesla's Gigafactory in Shanghai and SpaceX's government contracts totaling $38 billion. Musk has expressed positive views on China, emphasizing his vested interests in the country.
Circle has donated $1 million USDC to President-elect Donald Trump's Inauguration Committee, marking a significant moment for stablecoins, which have a market cap of $203 billion. Industry leaders anticipate pro-crypto legislation under Trump's administration, with ongoing efforts to establish a regulatory framework for stablecoins, including the Lummis-Gillibrand Payment Stablecoin Act. Venture capitalists are increasingly focusing on stablecoins, predicting a market cap of $300 billion by 2025, particularly in emerging markets.
Kirsten Gillibrand
People
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schumer defends controversial vote amid calls for leadership change in democrats
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