US

IRS Drops Trump Tax Audits as Part of Settlement The Internal Revenue Service will drop its audits of Donald Trump and his family, according to The New York Times. This development comes as the latest term in a settlement agreement between the Trump administration and the Justice Department, which bars the IRS from investigating Trump and his family over past tax issues. Settlement Details: New settlement terms explicitly bar the IRS from investigating Trump and his family on past tax matters The Justice Department expanded the settlement to cover his tax audits Trump has also set up a $1.8 billion legal fund to compensate his allies Controversy: ...

Senate Takes Historic Step on Iran War Powers The US Senate has advanced a resolution to limit President Trump’s military action authority against Iran, marking the first time the chamber has moved on such a measure. Four Republican senators broke ranks to support the resolution, highlighting growing intra-party divisions over Iran policy. Key Developments: The Senate voted to take up legislation that would force Trump to end military operations in Iran Louisiana Republican Senator Bill Cassidy flipped to support the measure This is the first attempt by Congress to legislatively constrain presidential war powers regarding Iran Political Significance: ...

Massie Falls in Kentucky GOP Primary Trump-backed candidate Ed Gallrein has defeated incumbent Representative Thomas Massie in Kentucky’s Republican House primary. Massie was a well-known “rebel” within the Republican Party who frequently opposed Trump’s agenda. Election Results: Navy veteran Gallrein defeated long-serving Representative Massie in a heated primary This marks another victory in Trump’s “revenge” campaign against Republicans who opposed him Meanwhile, Andy Barr won the Kentucky Senate Republican primary to compete for McConnell’s vacated seat Political Impact: ...

[Brief] ICE Agent Charged in Shooting of Immigrant An ICE (Immigration and Customs Enforcement) agent has been formally charged for shooting an immigrant during Operation Metro Surge. The incident has raised concerns about excessive use of force in law enforcement operations.

[Brief] Three Killed in San Diego Mosque Shooting, Investigated as Hate Crime A shooting at a mosque in San Diego, California, has left three people dead. Police have arrested multiple teenage suspects and are investigating the case as a hate crime. Authorities are examining whether “hate rhetoric” motivated the attackers. The incident has shocked the local Muslim community, with civil rights organizations calling for a thorough investigation.

[Brief] US Imposes New Sanctions on Top Cuban Officials The United States has announced a new round of sanctions against senior Cuban officials, increasing pressure on the Cuban government. The move has sparked discussion over whether the US is attempting to force regime change in Cuba. The sanctions include financial restrictions and travel bans.

[Brief] US Suspends Joint Defense Cooperation with Canada The United States has suspended joint defense efforts with Canada, a cooperation framework dating back to World War II. The move is seen as a significant shift in North American security architecture, affecting bilateral arrangements including NORAD (North American Aerospace Defense Command).

A New York judge has ruled that a gun and writings found with Luigi Mangione at a Pennsylvania McDonald’s are admissible as evidence in his murder trial, though some other items will be excluded.

South Carolina Becomes New Battleground for US Redistricting The focus of US redistricting has shifted to South Carolina, as Republicans seek to redraw congressional maps in an attempt to sweep all House seats in the state, according to AP. Redistricting is a long-standing and controversial topic in American politics that directly affects party representation in Congress. Analysts suggest this move could further intensify partisan divisions in the US. Source: AP ...

US Long Bond Yield Hits Highest Since 2023 US long-term Treasury bond yields have climbed to their highest level since 2023, driven by growing inflation concerns, according to Bloomberg. The yield curve movement suggests market participants expect the Federal Reserve may maintain higher interest rates for longer to combat inflation. This trend has ripple effects across global financial markets, putting pressure on risk assets including cryptocurrencies. Source: Bloomberg