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Bitcoin will be mined, minted, made in US, Trump woos crypto community

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By Francesca Hangeior.

 

Donald Trump, once a cryptocurrency sceptic, has vowed to be a “pro-bitcoin president” if elected in November.

The Republican nominee is seeking support from an industry frustrated by US regulations.

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“The Biden-Harris administration’s repression of crypto and bitcoin is wrong, and it’s very bad for our country,” Trump said to cheers at a conference in Tennessee.

The ex-president likened cryptocurrencies to the growth of the “steel industry of 100 years ago”, and said, “Bitcoin stands for freedom, sovereignty and independence from government coercion and control.”

Trump said if he was in the White House, he would not allow the US government to sell its bitcoin holdings.

“This will serve in effect as the core of the strategic national bitcoin stockpile,” Trump said.

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The proposal was more limited than one offered the day before by longshot third-party candidate Robert F. Kennedy Jr., who said he would seek to build a stockpile of 4 million bitcoins.

“If we don’t embrace crypto and bitcoin technology, China will, other countries will, they’ll dominate, and we cannot let China dominate,” Trump said Saturday.

“If crypto is going to define the future, I want it to be mined, minted and made in the USA.”

Acknowledging the price of electricity as a key factor in where cryptocurrency mining operations are located, Trump vowed to make US energy the cheapest “of any nation on Earth” by increasing fossil fuel production and nuclear energy.

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“We’ll be doing it in an environmentally friendly way, but we will be creating so much electricity that you’ll be saying, ‘please, please, Mr President, we don’t want any more electricity.’”

He said on his first day in office, he would fire Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), a frequent target of cryptocurrency industry outrage over his cautiously slow approach to implementing regulations.

The crowd roared with approval at the proposal, prompting Trump to joke: “I didn’t know he was that unpopular.”

“Let me say it again. On day one, I will fire Gary Gensler!” he said, with the crowd erupting again.

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He also targeted Vice President Kamala Harris, who is set to replace Biden atop the Democratic ticket following the 81-year-old president’s shock exit from the campaign.

“We have to fight and we have to win, and I pledge to the bitcoin community that the day I take the oath of office, Joe Biden, Kamala Harris’s anti-crypto crusade will be over, it will end, it’ll be done,” Trump told the crowd.

“You’re going to be very happy with me.”

The 100-day sprint to the US election began Sunday, the final act of a campaign transformed by an assassination attempt and the stunning exit of President Joe Biden.

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After weeks of infighting and despondency over Biden’s candidacy, Democrats have consolidated behind Vice President Kamala Harris, radically reshaping the race to November 5 which was fast becoming Republican nominee Donald Trump’s to lose.

Harris’s candidacy has clearly reinvigorated her party’s campaign, which said Sunday it had raised $200 million – mostly from first-time donors – since Biden dropped out and endorsed his vice president a week ago.

A new Wall Street Journal poll showed Harris had closed Biden’s six-point deficit with Trump to just two points – well within the margin of error – with boosted support from Black, Latino and young voters.

But Republican pollster David Lee, who conducted the Journal survey, cautioned Democrats not to get carried away by the race tightening.

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“Donald Trump is in a far better position in this election when compared to a similar time in the 2020 election,” Lee said.

If the race is at a dead heat nationally, the advantage still lies with Trump given the mathematics of the Electoral College system for electing the president.

Trump’s 2016 victory over Hillary Clinton came despite losing the nationwide popular vote by nearly three million ballots.

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Trump fires Fagan, first woman to lead US military service

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President Donald Trump has removed Admiral Linda Fagan, the first woman to lead a United States military service, as the head of the Coast Guard.

The Department of Homeland Security, which oversees the Coast Guard, did not immediately comment on Fagan’s dismissal, AFP reports.

The sack came less than 24 hours after the inauguration ceremony of the 47th US President at the Capitol, on Monday.

“She served a long and illustrious career, and I thank her for her service,” acting DHS Secretary Benjamine Huffman said in a message Tuesday to the Coast Guard.

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Fox News cited a senior official saying reasons for her removal included her failure to address border security threats, excessive focus on diversity, equity and inclusion, and an “erosion of trust” over the Coast Guard’s investigation into sexual assault cases.

Another official cited alleged “leadership deficiencies.”

A senior official from the DHS was far more critical, saying Fagan was dismissed “because of her leadership deficiencies, operational failures, and inability to advance the strategic objectives of the US Coast Guard.”

“The admiral failed to address border security threats, mismanaged acquisitions, including helicopters, and put ‘excessive focus’ on diversity, equity and inclusion programmes,” the official said on condition of anonymity.

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Trump and other Republicans have long railed against government programmes aimed at fostering diversity.

Also, border security is a key priority for Trump’s administration, as he declared a national emergency at the US frontier with Mexico on Monday, the first day of his new term of office.

Pete Hegseth, Trump’s yet-unconfirmed nominee to head the Defense Department, said last week that senior officers “will be reviewed based on meritocracy, standards, lethality and commitment to lawful orders,” indicating that further dismissals are possible.

Fagan had led the Coast Guard since 2022, and previously held posts including vice commandant of the service.

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“She served on all seven continents, from the snows of Ross Island, Antarctica to the heart of Africa, from Tokyo to Geneva, and in many ports along the way,” an archived version of her biography, which is no longer available on the Coast Guard website, revealed.

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Photos: Melania Trump shines in elegant outfit as netizens compare looks with Michael Jackson

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Where in the world is Melania Trump? Back in Washington in a sharply tailored outfit that exudes international woman of mystery as her husband once again becomes president of the United States.

Wearing a long navy coat and matching wide-brimmed hat — which shielded her eyes in most photos and hindered her commander-in-chief husband’s attempts to give her a peck before his swearing-in — Melania’s fit drew snark on social media and a flurry of comparisons to a 1980s video game character.

“Where in the world is Carmen Sandiego?” quipped the internet, referring to the franchise that spun off into a popular 1990s geography game show for kids, and featured a criminal mastermind dressed in a long, carmine trench coat and eye-obscuring fedora.

Melania Trump’s coat and skirt were silk wool Adam Lippes, an independent American designer based in New York, an ensemble paired with an ivory blouse tightly wrapped at the Slovenian-born former model’s neck.

“The tradition of the presidential inauguration embodies the beauty of American democracy and today we had the honor to dress our first lady, Mrs. Melania Trump,” said Lippes in a statement that emphasized American manufacturing over political ideology.

“Mrs. Trump’s outfit was created by some of America’s finest craftsmen and I take great pride in showing such work to the world.”

The hat was by New York milliner Eric Javits.

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“She cut the figure of a mafia widow or high-ranking member of an obscure religious order, and a bit of ‘My Fair Lady,’ wrote Rachel Tashjian, style critic for The Washington Post.

– ‘Armor’ –

American first ladies don’t get much of a voice — but their sartorial choices are broadcast to the world and scrutinized for subtext and statements.

The late Rosalynn Carter, for example, drew strong reactions by wearing a dress she had already worn — gasp! — when her husband Jimmy was inaugurated in 1977.

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The point was to show empathy for the economic struggles of Americans — but sometimes what the people really want is aspirational glamour.

In recent years first ladies have routinely turned to independent designers for inaugural events: in 2021, Jill Biden wore a sparkling blue coat-and-dress combo by Markarian, a small brand in New York.

Michelle Obama made waves in 2009 in a lemon-colored outfit by Isabel Toledo, wearing Thom Browne at her husband’s second swearing-in. She wore gowns by Jason Wu to both series of inaugural balls.

Melania Trump, for her part, channeled Jackie Kennedy to kick off her first turn in the White House, wearing Ralph Lauren — a heritage-brand favorite on both sides of the political aisle — to the daytime events in 2017.

She swapped her powder-blue cashmere dress and matching asymmetrical bolero jacket with opera gloves for a silk crepe gown by Herve Pierre that year, both looks that signaled a sense of buoyancy as she began her new role as a political wife.

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Her shadowy-chic 2025 look marks a sharp departure as she enters tenure two.

“For her second round as first lady, the fashion game — the tool she brandishes most often and most forcefully, even if the public sometimes struggles to divine her sartorial messages — is likely to be one of steely, precise armor, of clothes with brash and exacting tailoring,” wrote the Post’s Tashjian.

“For the past year, she has worn a wardrobe of mostly black, but this does not seem intended to make her disappear into the background.”

Michael Jackson comparison on social media

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Melania’s latest outfit has sparked a flurry of reactions online, quickly going viral across social media platforms.

While some praised her bold fashion choice, others couldn’t resist drawing comparisons to the late Michael Jackson.

One X user humorously remarked, “Is it just me… or is Melania trying to imply that Trump is a ‘smooth criminal’ with this outfit choice?”

Echoing a similar sentiment, another user chimed in: “Melania is dressed like Michael Jackson, and she is killing it! Smooth criminal but more classy lol.”

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Trump vows to ‘tariff and tax’ foreign countries

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US President Donald Trump waits to speak in Emancipation Hall during inauguration ceremonies at the US Capitol in Washington, DC, on January 20, 2025. (Photo by Greg Nash / POOL / AFP)

S President Donald Trump promised tariffs and taxes on other countries Monday, in a nationalistic inaugural address after being sworn in as the 47th president.

“I will immediately begin the overhaul of our trade system to protect American workers and families,” he said at the US Capitol.

“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump added.

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Since his election victory in November, Trump has taken aim at allies and adversaries alike, raising the prospect of fresh levies to push other countries towards tougher action on US concerns.

Before his White House return, Trump vowed to impose 25 percent tariffs on Canadian and Mexican imports, and an additional 10 percent on Chinese goods, if they did not do more about illegal immigration and the flow of fentanyl into the United States.

On the campaign trail, Trump also floated the idea of much steeper tariff rates — 60 percent or more — on Chinese imports.

But he stopped short Monday of unveiling new tariffs, which are applied on imported goods when a US buyer purchases them from abroad.

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– ‘America First Trade Policy’ –

The White House said Monday that under the Trump administration, all agencies would adopt “emergency measures to reduce the cost of living.”

It added that Trump would unveil his “America First Trade Policy,” stressing also that Washington would not be beholden to foreign organizations for its tax policy.

In his speech Monday, Trump reiterated his plan to set up an “External Revenue Service” to collect tariffs, duties and revenues, promising “massive amounts of money” pouring in from foreign sources.

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The name is a play on the Internal Revenue Service, a bureau under the Treasury Department that administers and enforces US tax laws.

“The American dream will soon be back and thriving like never before,” he said.

Some analysts have warned that tariff hikes would bring higher consumer prices and weigh on GDP growth over time.

But Trump’s supporters have pointed to his other policy proposals like tax cuts and deregulation as a means to spur growth.

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Trump’s Treasury secretary nominee Scott Bessent told lawmakers last Thursday that he disagreed the cost of tariffs would be borne domestically.

On Monday, Trump also said his government would establish a new “Department of Government Efficiency.”

The office dubbed DOGE, to be led by Elon Musk and businessman Vivek Ramaswamy, is eyeing some $1 trillion in cuts to federal spending.

While DOGE has an advisory role, Musk’s star power and strong influence in Trump’s inner circle bring political clout.

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