Trump USA 250 Gold Coin gets Treasury approval
AI Chip Execs busted over China smuggling operation
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Trump Gold Coin advances as Treasury grants rare authority
The U.S. Mint is pushing forward with a commemorative gold coin featuring President Donald Trump after the Commission of Fine Arts approved the design Thursday, with Treasury invoking rare statutory authority to feature a sitting president on a non-circulating bullion coin for the 2026 semiquincentennial.
Design Approval Secured: CFA greenlit obverse portrait of Trump from official White House photo and reverse bald eagle; tied to America’s 250th anniversary celebrations.
Treasury Cites Statute: Officials rely on 31 U.S.C. § 5112 granting Secretary discretion over bullion/proof gold coin designs, bypassing traditional bans on living persons in currency.
Treasurer Enthusiastic Quote: Brandon Beach called Trump “no profile more emblematic” for representing U.S. democracy and spirit in the limited-production coin.
Precedent Breaking Move: Marks rare government-issued coin with sitting president; separate from circulating money rules, with final specs pending Secretary decision.
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Super Micro execs charged over smuggling Nvidia chips to China
U.S. prosecutors unsealed charges Thursday against Super Micro Computer co-founder Yih-Shyan “Wally” Liaw and two associates for allegedly conspiring to divert $2.5 billion in Nvidia-powered AI servers to China since 2024, violating strict export controls by routing through a Southeast Asian middleman with fake paperwork and dummy setups, sparking a 25% plunge in Super Micro shares Friday.
Scheme Details Emerge: Defendants used fake documents, repackaging via logistics firms, dummy servers to deceive compliance audits, and put pressure on teams; $510 million in servers diverted late April to mid-May 2025 alone, featuring advanced Nvidia GPUs like B200 Blackwell architecture.
Key Figures Arrested: Liaw (Super Micro co-founder, SVP, board member) and contractor Ting-Wei “Willy” Sun arrested Thursday; sales manager Ruei-Tsan “Steven” Chang remains fugitive; with no Commerce Department license obtained for China exports.
Super Micro Responds: Company placed involved employees on leave, terminated contractor relationship, stated alleged conduct violated policies and controls; maintains robust compliance program and full adherence to U.S. export laws.
Broader Enforcement Push: Part of an ongoing U.S. crackdown on unauthorized AI tech flows to China amid national security concerns; prosecutor Jay Clayton emphasized swift action against sensitive technology crimes.
Nvidia $20B Groq deal faces anti-trust scrutiny
Nvidia’s $20 billion licensing deal with AI chip startup Groq, sealed late 2025, drew sharp criticism from Sens. Elizabeth Warren and Richard Blumenthal on Thursday, who warned it may evade merger review and further entrench the company’s dominance in AI computing amid fears of stifled competition.
Licensing Plus Talent Grab: Nvidia secured non-exclusive access to Groq’s IP while hiring key engineers including CEO Jonathan Ross; Groq stays independent but lost most software and hardware staff to Nvidia.
Senators Demand Details: Warren and Blumenthal’s letter to Jensen Huang questions if the structure deliberately avoids antitrust scrutiny, highlighting risks to innovation and U.S. tech leadership versus China.
Nvidia Defends Structure: Company spokesperson emphasized no acquisition occurred, framing it as IP licensing and talent hires to advance accelerated computing for global customers.
Broader Trend Emerges: Similar licensing-hiring deals by Big Tech have bypassed reviews; FTC scrutiny of such arrangements grows under current leadership.
Crypto.com cuts workforce by 12% in AI pivot
Crypto.com announced Thursday it is laying off about 12% of its workforce to integrate AI enterprise-wide, with CEO Kris Marszalek warning that companies failing to adopt AI quickly will fail in the evolving industry.
Targeted Role Reductions: Layoffs hit positions unable to adapt to new AI-driven structure; all affected employees notified as of March 19, 2026.
CEO Strong Statement: Marszalek posted on X that AI pivot is essential for survival, joining broader tech and crypto trend of efficiency-driven cuts.
Historical Context: Follows Crypto.com’s 20% global workforce reduction in 2023 after FTX collapse and focus on financial prudence.
Industry Pattern Emerges: Increasing AI citations in job cuts across crypto firms to streamline operations amid market shifts.
UK Gilt yields spike, highest since 2008
UK 10-year gilt yields surged to their highest since the 2008 crisis on Friday at 4.933%, driven by inflation fears from the U.S.-Israel war with Iran and energy shocks, pushing borrowing costs higher and complicating fiscal plans.
Yield Surge Details: 10-year up 9 bps, 2-year up 11 bps to 4.513%; long-end gilts already over 5% pre-war, with sharp repricing since conflict began.
BOE Holds Rates: MPC kept benchmark steady, citing near-term inflation rise from war; markets now expect hikes starting next month to at least 4.25%.
War Economic Shock: UK’s imported energy reliance amplifies oil/gas price surges post-Strait of Hormuz issues, fueling gilt sell-off.
Reeves Fiscal Pressure: Finance Minister’s rules face tighter margin as higher yields raise costs; February borrowing exceeded expectations at £14.3B.
Gold rebounds and Silver slides over Iran Oil volatility
Spot gold edged up 0.3% to $4,662.51 Friday after heavy selling from U.S.-Israel Iran war fears, while silver fell 1.7% to $71.62 amid oscillating oil prices and broader market volatility tied to geopolitical risks.
Gold Weekly Loss Looms: On track for 9% weekly drop after Thursday’s 3% slide; 2025’s 66% surge contrasts with 2026 volatility from war unwinds.
Silver Sharp Declines: Extending losses for over 10% weekly drop; 2025’s 135% rally faded with biggest single-day fall since 1980s in January.
Expert Views Volatility: Analysts note retail and hedge fund exits after rally, with central bank buying as a long-term driver; but short-term fear trades dominate.
Oil War Link Persists: Fluctuating Brent/WTI prices from the Iran conflict spark metals swings, with investors eyeing economic fallout and inflation.
You know what it's nice doing coin for the 250 years of the United States United States Marine Corps and all other services. But if it comes with Mr T's face on it just throw it away because it's not gold I'm not take I'm not buying any gold coin 250 years with the president's face on it because I don't want it on there I want an American Marine Corps emblem and all other military agencies on one side and a eagle on the other side. Other than that it shouldn't have nobody's face on there.
Happened with President Coolege too. He appeared on a 50cent piece for the Sesquicentennial.