Trump seizes "unprecedented opportunity" to cut "scam" Democrat agencies amid shutdown
"I can't believe the radical left Democrats gave me this unprecedented opportunity!"
Hello Capitalists,
Here is everything you should be following today:
Trump’s plans to remove Democrat “scam” agencies amid shutdown
Johnson says Schumer’s Shutdown a “massive backfire”
OpenAI just got a STAGGERING valuation
The “Tokenization Freight Train” is here and its not stopping
Small businesses embrace Stablecoins as a way to break up with credit card fees
Musk makes history as the richest man in the history of the world, ever
Today’s markets:
🔴 DOW: 46421.68 (⬇️0.04%)
🔴 S&P: 6705.70 (⬇️0.08%)
✅ NASDAQ: 22793.28 (⬆️0.17%)
⚠️⬆️CBOE VIX Volatility Index: 16.65 (⬆️2.21%)
Trump seizes the moment after Schumer’s Shutdown backfires on Dems
President Donald Trump branded the government shutdown an “unprecedented opportunity” to slash “Democrat Agencies” he called a “political SCAM,” vowing to consult OMB Director Russell Vought on targets and permanence amid partisan finger-pointing.
Trump Targets Dem Agencies: Trump labeled the shutdown as prime chance to eliminate what he deems politically biased government branches tied to opponents.
Vought Meeting Looms Large: President schedules urgent huddle with budget chief to pinpoint cuts, debating temporary pauses versus full eliminations.
Blame Game Escalates: Accuses Democrats of engineering crisis, positioning his strategy as retaliation to expose and dismantle “SCAM” operations.
Rollout has already started: On the first day of the government shutdown OMB Director Vought put a hold on $18 billion worth of infrastructure projects in New York while they are audited for compliance to constitutional principles.
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Speaker Johnson calls shutdown a “massive backfire” for Dems
House Speaker Mike Johnson accused Chuck Schumer and Hakeem Jeffries of sabotaging talks with Trump for pure political gain, calling their stance a “massive backfire” that empowers Republicans and President Trump.
Johnson Blasts Dem Leaders: In a stunning partisan gambit, Senate Minority Leader Chuck Schumer’s refusal to back a spending deal triggered a federal government shutdown at midnight Tuesday, handing President Donald Trump sweeping executive authority to slash and prioritize services amid the chaos.
Trump Gains Executive Levers: The impasse shifts unprecedented control to the White House, where OMB Director Russ Vought will unilaterally decide which agencies to fund or furlough during the crisis.
Reform Opportunity Emerges: Johnson hails the shutdown as a rare chance to downsize bloated government bureaucracy, potentially streamlining operations without needing Democratic votes in a divided Congress.
OpenAI raises $6.6B after stunning $500B valuation
OpenAI’s secondary share sale closed at a staggering $500 billion valuation, raising $6.6 billion from top investors including Thrive Capital and SoftBank, surpassing SpaceX to claim the title of world’s most valuable private company amid fierce AI talent wars.
Sale Falls Short Of Target: The tender offer authorized up to $10.3 billion but closed at $6.6 billion, with only eligible long-term employees participating since early September.
Valuation Surges Dramatically: The valuation jumped from $300 billion earlier this year, following November 2024’s $1.5 billion SoftBank deal, signaling robust investor appetite.
Talent Retention Strategy: The deal uses secondary sales to reward staff as a counter to Meta’s nine-figure poaching bids of OpenAI staff.
Mega Infrastructure Push: The valuation is part of a concerted push into infrastructure investment with partners like Oracle and SoftBank on Texas’ Stargate AI data center, backed by President Trump’s promotional nod.
The tokenization “Freight Train” will devour traditional finance
Robinhood CEO Vlad Tenev warned at Singapore’s Token2049 conference Wednesday that unstoppable asset tokenization—digitizing stocks, bonds and real estate on blockchains—will merge crypto and traditional finance, revolutionizing global markets within five years.
Tenev’s Bold Prediction: Tenev foresees tokenization as default for non-U.S. access to American stocks, boosting efficiency via blockchain advantages over legacy systems.
Regulatory Roadmap Ahead: He expects Europe to lead with clear frameworks soon, while U.S. lags due to entrenched infrastructure, delaying full adoption beyond a decade.
Robinhood’s EU Push: Robinhood recently launched 200+ tokenized U.S. stocks for European clients in June, sparking a stock surge and proving early real-world viability of the concept.
Stablecoins Signal Shift: Tenev highlights stablecoins as pioneering tokenized assets. While being pegged to dollars and other currencies they pave the way for a broader merger of crypto and TradFi giants like BlackRock.
Small businesses look to stablecoins as a solution to “fire” credit card fees
The rise of stablecoins is giving businesses the chance to fire their “highest-paid employee”—credit card fees—with merchants piloting stablecoin payments at the register. With credit card fees exceeding $187 billion in U.S. merchant costs last year that could slash expenses and speed up transactions nationwide.
Fees Fuel Adoption Drive: A record $187.2 billion in 2024 merchant processing fees, per Nilson Report, is propelling small businesses to embrace stablecoins to slash credit card swipe costs.
Prevail Pioneers Payment Shift: Prevail Coffee Roasters tests innovative app enabling instant stablecoin swipes at four locations, transforming traditional register routines.
GENIUS Act Ignites Momentum: July’s U.S. stablecoin law and Circle’s blockbuster IPO has legitimized crypto, fueling expert buzz on disrupting traditional debit-credit dominance.
Efficiency Edges Out Tradition: Experts hail stablecoins’ promise of faster, cheaper transactions, boosting convenience for consumers while empowering local capital markets.
Elon makes global history as the first man to be worth $500B
Elon Musk etched his name in financial history Wednesday, becoming the world’s first person to reach a staggering $500 billion net worth, propelled by a Tesla stock surge that added $9.3 billion to his fortune in a single day.
Tesla Stake Soars: Musk’s 12% ownership in Tesla, now valued at $191 billion, fueled the milestone amid a 4% share jump and near-record market cap.
SpaceX Valuation Explodes: Private rocket firm SpaceX’s $400 billion worth contributes $168 billion to Musk’s empire, underscoring his aerospace dominance.
xAI Boosts Portfolio: Majority stake in AI venture xAI adds $60 billion, highlighting Musk’s pivot to cutting-edge tech diversification.
Trillionaire Path Accelerates: Experts project Musk as first trillionaire by 2033, tied to Tesla’s proposed $1 trillion pay package for ambitious growth targets.
When all you have in your head is blind rage and hatred you will make stupid mistakes. Prisons are full of people who had that momentary lapse of reason. The only plan the Democrats seem to have these days is "F**k Americans" and it will come back to bite them hard.
Eliminate all of government workers in Washington, D.C. Only people left should be Trump's cabinet, ICE, DHS and a few from the FBI. If he were really a dictator, like Democrats say, there would be less people in Congress.