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Elon Musk said Reform UK donation may be difficult with Donald Trump in office

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Elon Musk has privately downplayed the chances of making a donation to Nigel Farage’s Reform UK, telling an associate it will not be easy to give money to the British party after he joined the US government.

The associate said Musk told them earlier this month that Donald Trump’s inauguration would complicate his ability to donate to Reform because of the tech billionaire’s role running a waste-cutting unit in the new administration.

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Though Musk met Farage in December at Mar-a-Lago, the pair did not meet again when the Reform leader travelled to Washington, DC, for Trump’s inauguration, said two people familiar with the matter.

Musk has dramatically intervened in UK politics in recent months, proclaiming Reform as the country’s “only hope” and frequently criticising Prime Minister Sir Keir Starmer.

Last month, Farage said the X owner and Tesla boss was giving “serious thought” to a donation to Reform. The UK’s lax rules on political donations allow foreign-owned entities — such as Musk’s X subsidiary in the UK — to give unlimited amounts to British parties.

But the pair have since clashed over Musk’s support for the far-right agitator and convicted criminal Tommy Robinson, who is in prison for contempt of court in relation to Robinson’s libel of a Syrian refugee.

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Earlier this month Musk called for Farage to be replaced as leader of Reform, posting on X that the veteran politician did not “have what it takes”, and suggesting alternatives, including Rupert Lowe, another Reform MP.

Farage has cultivated ties with Trump, appearing at his rallies in the past. Though he was not invited to the Capitol Rotunda for Monday’s ceremony, he did attend several parties around the event, including an official post-inauguration ball.

Musk did not attend an inauguration party hosted by Brexit-backing businessmen Arron Banks and Andy Wigmore — allies of Farage — in Washington on Friday, sending a close associate instead.

Musk has been tasked by Trump with leading the cost-cutting “Department for Government Efficiency”, or DOGE, which will sit inside an existing federal agency.

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There is no US law preventing Musk from contributing financially to Reform, and he still may decide to make a donation. However, a financial gift by a senior figure within the Trump administration to a British opposition party would potentially generate diplomatic tensions between the US and UK, which are close allies.

Speculation that Musk could make a donation of up to $100mn following a media report in November has given the UK rightwing party momentum as it rises in the polls and attracts some low-level defections from the Conservatives, the UK’s largest rightwing party and official opposition. 

A spokesperson for Reform confirmed that Musk had not made a donation to date, and said: “We have a good relationship with Elon Musk and will continue to do so.” Musk did not respond to a request for comment.

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CryptoCurrency

Absence of Trump Crypto Order Amps Industry Tension as He Fails to Mention in Speech

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President Donald Trump signs executive orders

The crypto industry is desperate to see crypto action from U.S. President Donald Trump, now a few days into his new presidency, but there hasn’t yet been a confirmation from the White House that an executive order is pending.

It’s not entirely off of Trump’s radar, though, because he did mention the crypto industry in his address on Thursday to the World Economic Forum, saying that an increase in domestic oil and gas production will secure U.S. manufacturing dominance and make it “the world capital of artificial intelligence and crypto.”

Still, he spent much more of the speech talking about U.S. AI commitments and didn’t mention digital assets again.

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The sector will likely be watching closely at 2:30 p.m. Eastern on Thursday, when Trump is again scheduled to sign executive orders. The White House has already issued an extensive array of such orders. While they don’t carry the weight of law, such directives can steer the federal government’s priorities.

Trump is also scheduled to speak with crypto-friendly El Salvador President Nayib Bukele at 3:30 p.m., news which sparked another rally in Bitcoin’s price.

In other corners of the federal government, the Senate Banking Committee established its first digital assets subcommittee on Thursday, with Wyoming Republican Cynthia Lummis running it alongside other crypto-friendly lawmakers. And the Securities and Exchange Commission, newly led by Republican Mark Uyeda, announced a crypto task force this week.

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Donald Trump calls on Opec to push down global oil prices

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Donald Trump has called on Opec to push down global oil prices and insisted that central banks around the world lower interest rates “immediately” afterwards.

In a speech to executives in Davos on Thursday, the US president urged Saudi Arabia and other producers to lower the cost of crude oil, expressing dismay that they had not done so already.

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“I’m going to ask Saudi Arabia and Opec to bring down the cost of oil. You gotta bring it down. Which frankly I’m surprised they didn’t do before the election,” he said.

“Right now the price is high enough that that war will continue,” he said, referring to Russia’s full-scale invasion of Ukraine.

“You gotta bring down the oil price, that will end that war. You could end that war,” he added.

The US president also used the speech to insist that companies around the world manufacture their products in the US — or face sweeping tariffs on imported goods entering the American market.

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He touted his economic agenda of radical deregulation and the “largest tax cut in American history” to business chiefs and global leaders, calling it “nothing less than a revolution of common sense”.

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Spacetech Voyager is aiming for a multi-billion valuation IPO

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Spacetech Voyager is aiming for a multi-billion valuation IPO

Voyager Technologies has filed its confidential paperwork to go public, according to multiple media reports. The defense and space company has raised over $215 million from investors like Afterburner Capital and Balerion Space Ventures, according to PitchBook. The Denver-based company will likely be valued between $2 billion and $3 billion, and Morgan Stanley and Latham & Watkins are expected to lead the IPO, according to the Wall Street Journal. 

The company, founded in 2019, has a wide set of offerings, from propulsion technologies for defense purposes to building in-space infrastructure. Voyager has also forged powerful partnerships in the industry, linking up with Palantir to integrate Palantir’s AI into Voyager’s offerings. 

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Donald Trump Did The Right Thing By Freeing Ross Ulbricht

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Trump Did Not Free Ross On Day One Because Of Course He Didn’t

Follow Aaron on Nostr or X.

Technically, Donald Trump broke his campaign promise by not freeing Silk Road founder Ross Ulbricht on day one of his presidency. (No, inauguration day is not “day zero.”) But as I explained in my previous Take, I wasn’t expecting a literal first day pardon anyways. Even day two exceeds my expectations. Trump delivered, and I’m very glad he did.

When I first heard about Silk Road in early 2013, I was immediately intrigued by the concept of buying and selling drugs anonymously online. To this day, I think darknet markets are the best intermediary step before the war on drugs is ended: It removes dealers from street corners while providing users some level of quality assurance through a public rating system.

Discovering Silk Road was also how I first learned about Bitcoin. I started writing about the digital currency a few months later, and am still at it today. In a way, I owe my career to Ulbricht.

That Ulbricht was sentenced to spend the rest of his life in prison was a miscarriage of justice in my view. Even if you believe he is guilty of everything he’s been convicted of (all non-violent crimes), over a decade behind bars should be long enough.

To be sure, I don’t believe Trump actually cares about Ulbricht; he could have freed him during his first term if that was the case. And Trump certainly has no intent of ending the war on drugs; if anything, he’s about to escalate it by designating cartels to be terrorist organizations and imposing the death penalty on drug dealers. Trump promised to pardon Ulbricht because that would benefit him politically — but to his credit, he kept his word.

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Ross is finally free. Well done President Trump, and everyone else who helped make this happen.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Lightchain AI- The Secret Token Set to Surpass Shiba Inu and Dogecoin in Market Dominance

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Lightchain AI- The Secret Token Set to Surpass Shiba Inu and Dogecoin in Market Dominance

Lightchain AI is emerging as the secret weapon in the crypto world, poised to surpass popular tokens like Shiba Inu and Dogecoin in market dominance. Combining cutting-edge AI integration with blockchain technology, Lightchain AI offers unmatched utility and scalability.

Its Lightchain AI Presale has already raised $12 million at $0.00525 per token, showcasing strong investor confidence and a promising future. As Shiba Inu and Dogecoin thrive on community support, Lightchain AI’s revolutionary features position it as the next big player ready to redefine the crypto landscape in 2025.

Shiba Inu and Dogecoin- Popularity vs. Long-Term Potential

Lightchain AI is rising as a top choice for the 2025 market boost due to its focus on common rules, clear sight, and fresh thoughts. Its Common Rules gives token owners the strength to guide how the platform moves forward, making sure choices are fair and open. This clear sight ͏builds trust in group; an key part for lasting success.

The place’s good link makes it easy to join with other networks and setups, making it more adjustable in many places. This skill broadens its appeal and helps the work team.

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Lightchain A͏I also cares about apps that work in a spread out way (dApps) by giving a comfy and handy base for their build and run. By making real-world apps with clear links, and open, Lightchain AI sees itself as a leader in blockchain change for the 2025 market boom.

Why Lightchain AI Is Poised to Dominate the Crypto Market

Lightchain AI is set to dominate the crypto market with its innovative vision and strategic roadmap. The journey begins with Prototype Development in November 2024, including rigorous testing of PoI and AIVM in a sandbox environment. The Testnet Rollout follows in January 2025, enabling real-world testing by developers and node operators.

By March 2025, the Mainnet Launch will activate full functionality, while May 2025 sees Ecosystem Growth, with grants and partnerships driving adoption. Global Adoption efforts in June focus on scalability and interoperability, with long-term sustainability initiatives completing the roadmap.

To address risks, Lightchain AI employs advanced mitigation strategies, such as sharding for scalability, differential privacy for data protection, and decentralized governance to prevent power centralization. These innovations ensure resilience and success.

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Buy Now to Profit Tomorrow

Lightchain AI’s secret token, LCAI, is set to surpass SHIB and DOGE in market dominance, making it the must-have crypto investment for today. The project has already attracted significant attention from prominent investors and influencers worldwide, with its potential applications extending far beyond the meme-inspired coins of today.

So don’t wait- invest in Lightchain AI now to secure your future tomorrow. With its groundbreaking technology and strategic roadmap, it’s no surprise that LCAI is on track to become a leading force in the cryptocurrency market.

https://lightchain.ai

https://lightchain.ai/lightchain-whitepaper.pdf

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Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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Stifel CEO Kruszewski on M&A Space Bullishness in the US

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Stifel CEO Ron Kruszewski discusses banks’ M&A space and market valuation ahead of the new US administration’s policy. Kruszewski speaks to Bloomberg’s Lisa Abramowicz on the sidelines of the 2025 World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

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Binance Labs rebrands, dives into AI as CZ returns as mentor

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Former Binance CEO Changpeng Zhao will actively coach and mentor startups within the incubator.

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Labour slammed for ‘mass spying’ on bank accounts as part of benefit fraud clampdown plans

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Labour slammed for 'mass spying' on bank accounts as part of benefit fraud clampdown plans

The Labour Government has been accused of introducing “mass bank spying” through new legislation aimed at assisting the Department for Work and Pensions (DWP) cracking down on benefit fraud.

Under the Public Authorities (Fraud, Error & Recovery) Bill, which was introduced in Parliament earlier this week, ministers plan to save £8.6billion over the next five years.


Privacy campaigners have branded the measures “one of the biggest assaults on welfare in a generation” as the bill is set grant the DWP new powers to obtain bank statements from individuals suspected of benefit fraud and require banks to flag potential breaches of eligibility rules.

According to Government figures, the department estimates that benefit fraudsters cheated taxpayers out of £7billion last year.

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Big Brother Watch director Silkie Carlo warned the legislation is “turning British welfare into a digital surveillance system” with “unprecedented privacy intrusions”.

Do you have a money story you’d like to share? Get in touch by emailing money@gbnews.uk.

Man looking at bank statement and Big Brother sign

The DWP has been accused of “mass bank spying” by campaigners

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Under the new legislation, the DWP will have powers to recover money directly from bank accounts of benefit fraudsters who are no longer receiving benefits or in PAYE employment. The department will specifically target those who have the means to pay but have refused to do so.

Officials stress that while they will be able to request bank statements, they will not have direct access to bank accounts. The measures are part of what the DWP calls its “biggest fraud crackdown in a generation”.

Banks and building societies will face new requirements to report potential breaches of benefit eligibility rules. The legislation also grants DWP organised crime investigators new powers to apply for search warrants.

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This will allow them to support police in searching premises and seizing evidence such as computers and smartphones. Furthermore, the time limit for civil claims against Covid fraud will be doubled from six to twelve years, giving authorities more time to investigate complex cases.

DWP

The DWP is is line to be awarded new powers

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Carlo said: “We must be extremely cautious about the Government creating a second tier justice system reserved for people who rely on welfare that side-steps fair hearings in courts to take away people’s funds and freedoms.”

She warned that elderly, disabled and people on the poverty line could have their lives “destroyed by mistaken punishments” and acknowledged that, while everyone wants genuine fraudsters to face justice, the new powers extend beyond fraud to correcting the government’s “own frequent payment errors”.

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“These are totally unprecedented privacy intrusions and punishments that will do more damage to fundamental British values of fairness and justice than to the serious fraudsters,” Carlo added.

Big Brother Watch UK expressed particular concern about the Government’s ability to directly access bank accounts and suspend driving licences. Among the most controversial new powers is the DWP’s ability to apply for driving bans of up to two years for benefit fraudsters.

This penalty would apply to individuals who owe £1,000 or more and repeatedly refuse to repay the money. The driving ban measures will specifically target those who have ignored previous requests from the DWP.

As part of the legislation, a comprehensive framework for banks to identify potential benefit fraud is being rolled out. Financial institutions will be required to report suspicious activity that could indicate breaches of benefit eligibility rules.

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LATEST DEVELOPMENTS:

Liz KendallLiz Kendall has pledged a benefits crackdown PA

The DWP says this proactive approach aims to prevent debts from accumulating and reduce the need for later repayment demands. New investigative powers will also allow DWP organised crime investigators to work more closely with police.

They will be able to apply for court warrants to search premises and seize electronic devices as evidence against suspected fraudsters. Michael Erhardt, campaigner at Disability Rights UK, criticised the Government’s approach to benefit fraud.

“The problem isn’t the social security budget – it is poor Government direction and underfunding of public services that are leading to more and more people becoming physically and mentally unwell,” he said.

He emphasised that supporting people with health conditions should be a societal priority. “When people are unwell or when they have long-term impairments or health conditions, then we as a decent society should give them the level of benefits that they need to live on,” Erhardt stated.

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GB News has contacted the DWP for comment.

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After meeting with Trump, Stellantis chairman commits to restart of endangered Illinois plant

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Stellantis’ Belvidere site has been mothballed since February 2023 after the carmaker temporarily discontinued production of the Jeep Cherokee crossover. Read More

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The Samsung Galaxy S25 is getting a new storage option, but I wish it went further

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Galaxy S25 in hand, rear in nice shade of blue

Our Samsung Galaxy Unpacked live coverage may have wrapped up, but we’re still feeling the excitement of seeing the new Samsung Galaxy S25, S25 Plus, S25 Ultra, and all-new S25 Edge revealed unto the world.

The new flagship Galaxy lineup brings with it a handful of upgrades for each of the three models, with increased RAM, new AI tools, and the blazing-fast Qualcomm Snapdragon 8 Elite chipset.

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