Crypto Investors Panic During Market Bloodbath

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Crypto investors panicked on Thursday as bitcoin plummeted to its lowest price in more than a year and other cryptocurrencies endured even worse sell-offs.

Victims of the bloodbath — which comes amid a broader stock market rout — range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly retail investors who have poured their life savings into cryptocurrencies.

“I lost over 450k usd, I cannot pay the bank,” reads one of the top posts on the Reddit forum for Terra Luna, a cryptocurrency that has lost more than 99% of its value over the past week. “I will lose my home soon. I’ll become homeless. suicide is the only way out for me.”

“My ex-colleague attempted suicide,” reads another top post on the forum. “He basically moved all of his savings to crypto in 2021 and LUNA was a massive player in his portfolio.”

While Luna’s collapse is the most spectacular, other cryptocurrencies are also in freefall. Bitcoin was trading around $28,300 Thursday afternoon, down 20% over the past week and nearly 60% lower than its all-time high of $69,000 in November 2021. Other major cryptocurrencies including ethereum and solana are now worth fractions of their all-time highs. (Read more from “Crypto Investors Panic During Market Bloodbath” HERE)

Photo credit: Flickr

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Elon Musk Weighs in on 2024 Presidential Election, Torches Biden

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Elon Musk slammed Democrat President Joe Biden on Thursday while also taking a shot at former President Donald Trump.

“Even though I think a less divisive candidate would be better in 2024, I still think Trump should be restored to Twitter,” Musk wrote on Twitter, later adding: “Biden’s mistake is that he thinks he was elected to transform the country, but actually everyone just wanted less drama.”

Musk has repeatedly mocked Democrats in recent years and has taken multiple shots at Biden and the Biden administration’s agenda.

The tweets from Musk come after he said at FT Live’s Future of the Car conference this week that it was “not correct to ban Donald Trump” from Twitter.

“I think that was a mistake because it alienated a large part of the county, and did not ultimately result in Donald Trump not having a voice,” Musk said, adding that the decision was “morally bad.” (Read more from “Elon Musk Weighs in on 2024 Presidential Election, Torches Biden” HERE)

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Jack Dorsey Is Finally Clear on His Future With Twitter

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Founder and former CEO of Twitter Jack Dorsey shut down rumors Wednesday that he would once again run the social media platform.

Youtuber Charles Wieand tweeted Wednesday, “I predict that [Elon Musk] will eventually just ask [Jack Dorsey] to be CEO of Twitter,” to which Dorsey responded, “nah I’ll never be CEO again.” When Andrew Stalbow asked “who should” be the CEO of Twitter, Dorsey said, “no one ultimately.”

Dorsey stepped down as the platform’s CEO in 2021 and has praised billionaire Elon Musk’s decision to purchase Twitter. The founder has previously stated that he viewed Twitter as a public good, and that the platform should not be run as an organization, according to the New York Post.

Despite not wanting to run the platform anymore, Dorsey and Musk have publicly communicated about the algorithms behind the timeline. Musk noted that “chronological tweets seem much better than what ‘the algorithm’ suggests.” Dorsey responded that “this is the way; though the algorithm is good at surfacing stuff you’d otherwise miss by not scrolling. reverse chron best for live and breaking events. having choice is the most important. ideally being able to choose what algo you want to use…” (Read more from “Jack Dorsey Is Finally Clear on His Future With Twitter” HERE)

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Biden’s Climate Czar May Have Inadvertently Revealed Deep Dysfunction in the Administration

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Top White House climate adviser Gina McCarthy copied a CBS News reporter on an email chain Wednesday announcing the administration would cancel a series of oil and gas lease sales.

“The Cook inlet sale was canceled. It is not proceeding,” McCarthy wrote to other White House officials in an email, CBS reported.

Another official reportedly responded immediately saying that a decision hadn’t been made yet. Interior Department (DOI) officials then reiterated that sentiment to CBS, also saying the agency hadn’t decided if it would move forward on the lease sales Wednesday evening.

It is unclear why the CBS News reporter was copied on the email, but the ensuing thread appeared to show disagreement and miscommunication over the administration’s energy policies as gasoline prices continue to hit all-time highs. . .

The administration eventually confirmed that it would cancel offshore oil and gas lease sales set for Alaska and the Gulf of Mexico. The DOI said the decision was made due to lack of industry interest in Alaska and legal issues in the Gulf of Mexico. (Read more from “Biden’s Climate Czar May Have Inadvertently Revealed Deep Dysfunction in the Administration” HERE)

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Crack Pipes in ‘Safe Smoking Kits’ Prove Psaki and Fact-Checkers Lied in Denials

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“They were never a part of the kit, it was inaccurate reporting.” Those were White House Press Secretary Jen Psaki’s words earlier this year when she was asked about reporting that a new “harm reduction” grant program from the federal government allowed taxpayer dollars to end up putting free crack pipes in the hands of addicts. . .

HHS Secretary Xavier Becerra released a statement at the time saying “no federal funding will be used directly or through subsequent reimbursement of grantees to put pipes in safe smoking kits.” . . .

But now, thanks to followup reporting from The Beacon, the truth is again being told — and it’s leaving the mainstream media with a whole pile of egg on its collective face:

Crack pipes are distributed in safe-smoking kits up and down the East Coast, raising questions about the Biden administration’s assertion that its multimillion-dollar harm reduction grant program wouldn’t funnel taxpayer dollars to drug paraphernalia.

The findings are the result of Washington Free Beacon visits to five harm-reduction organizations and calls to over two dozen more. In fact, every organization we visited—facilities in Boston, New York City, Washington, D.C., Baltimore, and Richmond, Va.—included crack pipes in the kits.

(Read more from “Crack Pipes in ‘Safe Smoking Kits’ Prove Psaki and Fact-Checkers Lied in Denials” HERE)

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Twitter Execs Ousted as Musk Takeover Looms

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Twitter has ousted two top executives — with both of them tweeting they were fired on Thursday — as the social media giant edges closer to being acquired by Tesla CEO Elon Musk.

Kayvon Beykpour, the company’s general manager, and Bruce Falck, Twitter’s head of revenue, announced on Thursday that they were let go by CEO Parag Agrawal.

Jay Sullivan, the head of consumer product, will take over Beykpour’s position.

Beykpour tweeted on Thursday that “this wasn’t my decision” and that Agrawal “asked me to leave after letting me know that he wants to take the team in a different direction.” (Read more from “Twitter Execs Ousted as Musk Takeover Looms” HERE)

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Americans Last: Border Detention Center Holds Boxes of Baby Formula Despite US Shortage

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As American families deal with a shortage of baby formula across the US, a Florida Republican lawmaker has released images of dozens of boxes of the coveted product at a migrant processing facility near the US-Mexico border.

Rep. Kat Cammack shared pictures of “pallets” of infant formula at the Ursula Migrant Processing Center in McAllen, Texas on her Twitter and Facebook pages Wednesday.

“The first photo is from this morning at the Ursula Processing Center at the U.S. border. Shelves and pallets packed with baby formula,” she wrote in a tweet accompanying side-by-side photographs of full and bare shelves. “The second is from a shelf right here at home. Formula is scarce. This is what America last looks like.”

Cammack’s office shared several additional images supposedly from the same location with The Post on Thursday. . .

In a video posted to Facebook, Cammack noted that while migrant children deserve to be fed, the stockpiling was just “another example of the ‘America Last’ agenda.” (Read more from “Americans Last: Border Detention Center Holds Boxes of Baby Formula Despite US Shortage” HERE)

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Angry Joe Starts Yelling About Food Lines, ‘Great MAGA King’ During Speech

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By Breitbart. President Joe Biden got angry during a speech to unions on Wednesday, yelling about the long lines of people trying to get food during the coronavirus pandemic.

“Remember those long lines you’d see in a television and people lining up in all kinds of vehicles just to get a box of food in their trunk? How quickly they forget people were hurting,” Biden said, raising his voice.

He got angry at the Republican Party, accusing them of not caring about Americans who were still struggling.

“And what did the MAGA crowd want to do? Forget it. Forget it,” Biden said. . .

“God this is the United States of America!” Biden continued. “The idea that people would have to wait in line an hour, an hour and a half to get a box of food in their trunk, just unbelievable.” (Read more from “Angry Joe Starts Yelling About Food Lines, ‘Great MAGA King’ During Speech” HERE)

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Biden calls Trump ‘great MAGA king’, claims backers unmoved by food lines

By New York Post. President Biden nicknamed his predecessor Donald Trump the “great MAGA king” Wednesday before claiming that “the MAGA crowd” downplayed massive food lines during the start of the COVID-19 pandemic.

Biden took an increasingly aggressive tone attacking Trump as he sought to reframe the November midterm elections, which Republicans are favored to win in part due to soaring inflation they blame on Biden’s policies and government spending.

“My Republican colleagues said these programs to help the working class and middle class people, that’s actually — that’s why we have inflation. They’re dead wrong. Under my predecessor, the great MAGA king, the deficit increased every single year he was president,” Biden said in a speech to Chicago electrical union members.

At one point, Biden abruptly increased his volume to a near-shout and claimed that Trump adherents were indifferent to economic suffering in 2020 — despite the fact that Trump unilaterally extended some relief programs via executive order with Congress gridlocked after initial aid passed with overwhelming Republican support.

“Remember those long lines you’d see on television? People lining up in all kinds of vehicles just to get a box of food in their trunk? How quickly we forget. People were hurting. And what did the MAGA crowd want to do? Forget it. Forget it,” Biden claimed. “My God, this is the United States of America. The idea that people would have to wait in line an hour or an hour-and-a-half to get a box of food in their trunk — it’s just unbelievable.” (Read more from “Biden calls Trump ‘great MAGA king’, claims backers unmoved by food lines” HERE)

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Senate Fails to Pass Democrat Abortion Bill

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Senate Democrats on Wednesday failed to pass legislation that would prohibit local, state, and federal governments from preventing abortions.

The Senate attempted to invoke cloture and end debate on S. 4132, the Women’s Health Protection Act of 2022. The motion failed 49-51, as Sen. Joe Manchin (D-WV) opposed the motion, and it required 60 votes to invoke cloture. The legislation would prohibit government restrictions on access to abortions. Specifically, the legislation states that governments may not limit a healthcare provider’s ability to:

Prescribe certain drugs

Offer abortion services via telemedicine

Immediately provide abortion services when the provider determines a delay risks the patient’s health

Sen. Richard Blumenthal (D-CT) sponsored the legislation after Politico leaked a draft Supreme Court opinion that would strike down Roe v. Wade. The Senate Democrats proposed the legislation to attempt to enshrine many of the pro-abortion protections enabled by the landmark Supreme Court ruling. (Read more from “Senate Fails to Pass Democrat Abortion Bill: Ends Legislative Attempt to Codify Abortion-On-Demand, Undermine Supreme Court” HERE)

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Judge Withdraws Contempt Order Against Trump

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Former President Donald Trump was released from a civil contempt of court order Wednesday, provided he pays a $110,000 fine and meets several conditions by May 20.

If Trump fails to comply with the conditions set by the judge, he vowed to reinstate the contempt of court ruling and apply it retroactively.

“I want the fine paid,” New York Supreme Court Judge Arthur Engoron said. “That fine is now $110,000.”

Trump’s legal team has been filing a trove of documents in an attempt to comply with a court order. Engoron wants Trump’s legal team to provide a detailed description of the Trump Organization’s policies on document storage and a review of documents in about five remaining boxes connected to Trump that had not been searched.

On Friday, Trump turned over an updated affidavit claiming that he no longer possessed the mobile devices requested by New York Attorney General Letitia James, CNN reported. An outside company also told the court it reviewed over 1,300 boxes searching for material that may have been subject to the subpoena, the New York Times reported. (Read more from “Judge Withdraws Contempt Order Against Trump” HERE)

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