Business
Trump’s not just going after modern DEI—he just overturned an LBJ-era order safeguarding federal workers from discrimination
Trump overturned a 1965 executive order that forbade federal contractors from discrimination. Read More
Microsoft promised a new game announcement at its Xbox Developer Direct event, and that game turned out to be Ninja Gaiden 4. The new entry in the long-running franchise is being co-developed by Team Ninja along with Platinum Games, the team behind action games like Bayonetta and Nier: Automata. Though no release date was announced, the game will be coming to Xbox, and will be available via Game Pass.
While the Ninja Gaiden franchise has been around since the late ‘80s, it entered into a new era on the Xbox with the bloody, and tough-as-nails Ninja Gaiden on Xbox in 2004. That version, developed by Team Ninja, was ported to a handful of other consoles and also received a number of sequels. Based on the debut trailer, the new game looks to continue the dark action started with the 2004 release, but with even faster gameplay.
Singapore, Singapore, January 23rd, 2025, Chainwire
LBank, a leading global cryptocurrency exchange, is thrilled to announce the launch of its Red Packet alongside a 100 Million Giveaway valued at $5 Million which is set to take place from January 24 to January 27, 2025. This exciting event marks a celebration of LBank’s latest achievements and reaffirms its commitment to delivering exceptional value to its growing global user base.
The Red Packet activity comes as part of LBank’s broader push to enhance user experience. Designed to promote social sharing and community engagement, this feature allows users to send and share red packets, creating a more interactive and enjoyable experience.
To celebrate this launch, LBank is introducing a 100 Million red packet giveaway valued at $5 Million, featuring rewards in a variety of tokens. The event will run from January 24 to January 27, 2025, and is open to all LBank users.
Now serving over 15 million users globally, LBank’s position as a leading exchange has been further validated by being awarded Crypto.news’ Best CEX Award. These achievements highlight the platform’s growing presence and impact within the cryptocurrency industry.
As LBank continues to grow its ecosystem, the platform remains committed to offering a wide range of assets and services. By introducing innovative features and providing robust trading solutions, LBank seeks to strengthen its position in the cryptocurrency industry while supporting users in navigating the evolving landscape of crypto innovation.
About LBank
Founded in 2015, LBank is a leading global cryptocurrency exchange, serving over 15 million registered users in more than 210 countries and regions. With daily derivatives trading volume of more than $67 billion, LBank is committed to delivering a comprehensive and user-friendly trading experience. Through innovative trading solutions, LBank has helped users achieve average returns of over 130% on newly listed assets.
As a pioneer in the Meme coin market, LBank has listed over 240 mainstream Meme coins and 40 Meme gems, with several achieving gains of over 500%. As the industry leader in first-time Meme coin listings, LBank has become the go-to platform for Meme coin investors.
Users can follow LBank for Updates
Website: https://www.lbank.com/
Twitter: https://twitter.com/LBank_Exchange
Telegram: https://t.me/LBank_en
Instagram: https://www.instagram.com/lbank_exchange
LinkedIn: https://www.linkedin.com/company/lbank
ContactPR & Communications TeamLBankpress@lbank.com
Disclaimer: This is a sponsored press release 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.
The Silk Road founder’s financial status was unclear, but many crypto users have donated to his ”transition into his new life” since he received a presidential pardon.
Roli on Thursday announced its latest educational product at the NAAM audio show in Anaheim. The simply named Roli Piano builds on products like the Roli Airwave and Piano M, more than doubling the latter’s key count to 49.
The Piano is much like its predecessor in most ways, with MIDI keys that light up and sync with an instructional app played back on a phone or tablet. The Airwave, meanwhile, adds hand tracking into the mix, creating gesture-based sounds.
The new instrument is pricey, at $599, well over double the Piano M’s current $249 price point. The London-based music tech startup is offering up the larger model at $399 for a limited time “super early bird special.”
And, of course, it wouldn’t be a 2025 product launch without some mention of generative AI. That arrives by way of the newly announced Piano AI Assistitant, which the company refers to as, “the first step in using generative AI to make learning to play easier, more intuitive and more fun than ever before.”
The Assistant, which is rolling out as part of the Piano launch, aims to further instruction, while adding music theory into the mix.
Over the past year, the Piano line has become Roli’s primary focus. The pivot toward educational products makes sense for the company, which filed for bankruptcy back in 2021. Products like the Seaboard and Blocks were always cool and clever, but remained niche in the music world.
Music education, on the other hand, offers massive market potential for a smaller hardware maker.
CryptoCurrency
DWP warning: State pensioners in poverty continue to rise as thousands miss out on £3,900 annual boost
The Department for Work & Pensions has issued an urgent warning after new figures revealed the number of pensioners pushed in poverty continues to rise.
Around 800,000 of those affected are missing out on a crucial benefit which could help top up income and provide a yearly boost worth £3,900.
This morning, the DWP published figures showing that 13 per cent of pensioners are in poverty. The number of single pensioners struggling financially has increased, with 18 per cent now living in low resources, up from last year.
David Brooks, Head of Policy at leading independent financial services consultancy Broadstone, said: “Today’s data is well timed as the Work and Pensions Committee has begun its review of pensioner poverty, and the Government is expected to kick off a review of adequacy in pensions later this year.
“Understanding the causes of pensioner poverty will be key to ensuring the system is working as it should and supporting those in need.
“For example, increasing the take up of benefits that pensioners are entitled to, particularly those targeted at poorer retirees like Pension Credit, will be critical to lifting more people out of poverty in later-life.”
Around 800,000 people are missing out on Pension Credit worth an average of £3,900 per year
GETTY
The figures highlight ongoing concerns about financial hardship among the UK’s retired population, with nearly two million pensioners facing poverty.
Around 800,000 people are missing out on Pension Credit worth an average of £3,900 per year, according to the DWP. The benefit tops up weekly income to £218.15 for single pensioners and £332.95 for couples.
Those eligible can also receive additional support with housing, council tax and heating bills. Over-75s who qualify are also entitled to a free TV licence, which will cost £174.50 from April 2025.
Pensions Minister Torsten Bell said that the Government is taking action to raise awareness of the benefit. The lack of awareness about Pension Credit’s existence is believed to be the main reason for low take-up rates among eligible pensioners.
Recipients could get an extra £81.50 weekly if they have qualifying disabilities or receive certain benefits like Attendance Allowance or Personal Independence Payment.
The DWP has launched a major awareness campaign this month, writing to 11 million pensioners about Pension Credit eligibility. The letters will be sent as part of the annual state pension uprating exercise, including leaflets promoting Pension Credit.
From April, the State Pension will increase by 4.1 percent to £230.30 per week. Guaranteed Pension Credit payments will also rise, with single pensioners receiving £221.86 weekly, up from £218.15.
Couples will see their Pension Credit increase from £332.95 to £338.61 per week.
LATEST DEVELOPMENTS:
The initiative aims to boost benefit uptake, as research shows 77 percent of pensioners living in poverty currently receive neither pension credit nor housing benefits.
Pensioner poverty is particularly severe among those in rented accommodation, affecting 34 per centof pensioner renters compared to the overall 16 per cent rate.
Research from the Fabian Society shows that those who retired before April 2016 on the basic state pension face higher poverty levels.
The old pension rules made it more difficult to qualify for the full amount, while some on the new state pension also struggle due to housing costs and National Insurance gaps.
Sasjkia Otto, Fabian Society senior researcher, said: “Neither the state pension nor benefits guarantee protection from poverty, and many are falling through the cracks, especially those renting.”
The situation could worsen as the number of pensioners in rented accommodation increases, with 40 per centof all pensioners in poverty being renters.
The state pension remains “too low” according to researchers, despite previous improvements in pensioner poverty rates.
Business
Dozens of Reddit communities are banning links to X as many are calling Elon Musk’s controversial hand gesture on Inauguration Day a Nazi salute
Users are furious at Musk for a hand gesture on Inauguration Day. Read More
What Is the Federal Advisory Committee Act?
FACA, established in 1972, aims to ensure that federal advisory committees operate transparently and accountably. Key requirements include:
- Balanced Representation: Committees must represent diverse viewpoints relevant to their purpose.
- Transparency: Meetings and decisions must be publicly accessible, with notices published at least 15 days prior.
- Accountability: Committees must file reports and maintain records.
These regulations are designed to prevent undue influence and promote public trust in governance.
The Lawsuits Against DOGE
Three lawsuits filed in the US District Court for the District of Columbia accuse DOGE of FACA violations:
- Public Citizen Inc. v. Trump et al
- Lentini et al v. Department of Government Efficiency et al
- American Public Health Association v. Office of Management and Budget et al
The plaintiffs argue that DOGE lacks fair representation and fails to meet FACA’s transparency requirements. Notably, these lawsuits do not include injunctions to halt DOGE’s operations, allowing it to continue functioning while the legal process unfolds.
Challenges in Enforcing Compliance
Legal experts believe enforcing compliance could be difficult for several reasons:
- Speed of Operations: DOGE’s fast-paced approach, reflective of Silicon Valley’s “move fast and break things” ethos, may outpace legal challenges.
- Executive Power: The enforcement of court rulings depends on the executive branch, led by President Trump, who has shown a willingness to bypass norms.
- Historical Precedents: Comparisons to Andrew Jackson’s defiance of the Supreme Court highlight the potential vulnerabilities in the enforcement process.
The Role of Courts in Balancing Speed and Accountability
The courts have become a critical arena for addressing these legal disputes. While the Supreme Court currently leans conservative, legal scholars argue that justices prioritize institutional trust over political loyalty. This balance could influence the outcome of challenges to DOGE and similar initiatives.
Key Issues Highlighted by FACA Violations
The lawsuits show the importance of balancing innovation with democratic accountability. DOGE’s critics emphasize that federal advisory committees must:
- Ensure diverse representation.
- Adhere to transparency standards.
- Avoid favoring private interests over public welfare.
Failure to meet these standards undermines public trust and creates legal vulnerabilities.
Table: Key FACA Requirements vs. Allegations Against DOGE
|
FACA Requirement |
Allegations Against DOGE |
|
Balanced representation |
Committee lacks diverse viewpoints, favoring tech executives. |
|
Transparent decision-making |
Insufficient public access to meetings and records. |
|
Accountability through reporting |
Inadequate compliance with filing and reporting rules. |
The Broader Implications
This case highlights the friction between rapid technological progress and the deliberate pace of government processes. While DOGE aims to streamline governance, ignoring legal frameworks could lead to long-term challenges for similar initiatives.
Legal and political systems must adapt to innovations without sacrificing democratic values. Whether DOGE can align its operations with FACA remains to be seen, but the outcome will set a precedent for future tech-driven advisory committees.
Bitcoin and cryptocurrencies kicked off a new era with the inauguration of the first-ever pro-crypto president. The key question is whether the shift towards crypto-positive regulation and rising market activity is a sustainable one or a temporary reaction to changing political tides.
Made in USA crypto tokens have performed well this week, emerging as the most relevant narrative in the sector.
Bitcoin and crypto markets break record in market activity
Donald Trump’s election as U.S. President fueled hopes of crypto traders and firms. A pro-crypto administration supported the narrative of a new age for cryptocurrencies paved with greater certainty and higher market activity.
According to CCData’s latest exchange review report, one of the key measures of market participation hit a milestone in 2024. Aggregated spot and derivatives trade volume climbed to $75 trillion against the 2021 record of $64 trillion.
The two key catalysts were the speculation surrounding the November 2024 election and the Bitcoin bull run, at the end of 2024. Both November and December were record breaking months for crypto with $10.51 trillion and $11.31 trillion in monthly volumes.
Stablecoin market capitalization helps identify market activity, participation and onboarding of new users within the ecosystem. Stablecoins act as fiat on and off ramp for new traders and beginners in crypto, therefore representing market participation and adoption. Data from DeFi tracker DeFiLlama shows a large spike in stablecoin market capitalization on President Trump’s inauguration day.
Market cap crossed $210 billion and observed a year-to-date increase of 3.3% as liquidity and trade volume across centralized and decentralized exchanges spiked. A massive influx of capital from traders supported the spike.
As of Thursday, January 23, stablecoin market capitalization is $214.407 billion, as seen in the DeFiLlama chart below.
Crypto traders are optimistic on made in USA tokens
President Donald Trump’s statement that he wanted all remaining Bitcoin to be “made in the USA” led to the rise of a new crypto narrative, the made-in-USA tokens. CoinMarketCap and CoinGecko have launched a category of tokens under “made in USA.”
XRP (XRP), Solana (SOL), Cardano (ADA), Chainlink (LINK) and Avalanche (AVAX) are the top five altcoins in the list, and the category’s market capitalization exceeds $541 billion.
CCData report states that the basket of crypto tokens in this category has outperformed the remainder of the market. The coins are up 360% since the election, as traders anticipate a positive regulatory environment and more favorable conditions for the tokens made in the states.
The narrative depends on policy and actions of the CFTC and the SEC, and whether President Trump delivers a strategic Bitcoin reserve during his time in office. Four-year crypto market cycle could see a shift and stray from historical trends.
Made in USA vs. China coins narrative
In 2024, the China coins narrative trended on X and other social media platforms as traders flocked to buy cryptocurrencies made in China, like Neo (NEO), VeChain (VET), Huobi (HTX), Filecoin (FIL), Qtum (QTUM), and Ontology (ONT), among others.
With the shifting tides in politics and regulation, the made-in-USA narrative has the potential to compete with Chinese coins. President Trump appointed SEC Commissioner Hester Peirce as head of a new “crypto task force” to provide clarity and support to the industry. There is an expectation that the new task force will support gains for made-in-USA tokens.
Bitcoin traders could gain from these 5 tokens
Solana, XRP, Sui (SUI), Aptos (APT) and Injective (INJ) could rally in the coming weeks, building on the made in USA narrative. Solana was conceptualized in California and is popular for its fast transactions and scalability.
The issuance of President Trump and First Lady Melania’s meme coins on the Solana blockchain has contributed to the rising activity on the chain.
Crypto firm Ripple was fined $125 million for violation of securities laws in its institutional sales of XRP, both sides (SEC and Ripple) appealed the ruling and the SEC has argued that XRP’s institutional and secondary market sales should be treated in a similar manner.
While XRP traders await an outcome in the appeals process, XRP holds steady above $3, after hitting a new all-time high in January 2025.
SUI and APT are US-backed Layer 1 tokens that enable higher scalability and faster transactions for traders while deriving security from the Ethereum base chain.
INJ is a DeFi token with a focus on innovation and AI, the project is made in the USA and could benefit from the DeFAI narrative.
On-chain analysis of top 5 made-in-USA tokens
Santiment data shows that the total open interest in USD in the top 5 made in USA tokens noted considerable spikes in January, closer to the inauguration. Even as OI drops from its highest level in assets, it is above the 2024 average, supporting a bullish thesis for the tokens.
Similarly, volume in the top 5 made in USA tokens recorded a spike earlier in January, since then volume remains above the average levels.
Solana is holding on to double-digit gains for the last seven days while other cryptocurrencies in the top 5 struggle, alongside Bitcoin, on Thursday.
Ruslan Lienkha, chief of markets at YouHodler told Crypto.news:
“We may see an accelerated pace of cryptocurrency ETF approvals. However, the more significant development lies in the potential establishment of a comprehensive legal framework for the cryptocurrency industry in the U.S. This could lead to the full recognition of cryptocurrencies as a distinct asset class. Previously, attempts were made to classify cryptocurrencies under existing asset categories, such as securities or commodities, which did not fully capture their unique characteristics.”
Tim Ogilvie, Global head of institutional at Kraken, said that:
“Bitcoin’s bullish momentum still has room to grow, as indicated by the relative strength index (RSI), which currently sits at 65. Generally, an RSI above 70 is considered overbought.
Solana (SOL) hit an all-time high of $260 this week. However, technical analysis suggests that it is now in overbought territory, with an RSI around 75. While there may still be bullish momentum, this could also signal caution for short-term traders. They will be watching to see if SOL can close above $260 to confirm renewed bullish momentum.”
In the Crypto Regulatory Affairs newsletter, experts at Elliptic said:
“On January 20, US President Donald Trump was sworn into office for his second term in office, a moment the cryptoasset industry has been awaiting with high expectations. Prior to his inauguration, recent news reports had indicated that President Trump – who campaigned on a promise to make the US a leader in cryptoasset innovation – planned to issue executive orders upon taking office that would declare crypto to be a national strategic priority, appoint a crypto czar and establish a crypto council to effect policy changes, and repeal a controversial accounting rule on crypto established by the Securities and Exchange Commission (SEC), known as Staff Accounting Bulletin (SAB) 121.
However, in his first twenty four hours in office, President Trump did not sign any executive order pertaining to crypto.”
Crypto traders and experts maintain optimism of positive action within the first 100 days of Trump’s return to office.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Adidas shoes are displayed at a DSW store in Novato, California, on Jan. 31, 2024.
Justin Sullivan | Getty Images
Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday.
The layoffs will affect employees at Adidas’ headquarters in Herzogenaurach, Germany, and represent nearly 9% of the 5,800 staffers it employs at the location.
The company has not determined how many jobs it will cut, but up to 500 positions could be affected, a source told CNBC. Adidas will decide the final number when it is further along in its process.
Employees learned about the cuts on Wednesday, just one day after Adidas announced what it called better-than-expected preliminary profit results for its holiday quarter and 19% sales growth. It is expecting sales to grow to 5.97 billion euros, ahead of the 5.68 billion euros that analysts had expected ahead of the announcement, according to LSEG.
In a statement to CNBC, a spokesperson said Adidas’ current operating model has become “too complex” and the cuts are designed to simplify operations.
“To set adidas up for long-term success we are now starting to look at how we align our operating model with the reality of how we work. This may have an impact on the organizational structure and number of roles based at our HQ in Herzogenaurach,” the spokesperson said. “We will now start to work closely with the Works Council to ensure that any changes are handled with the utmost respect and care of all employees.”
The layoffs are not part of a cost-cutting program, but more of an effort to adapt its business to how it has changed over the past couple of years, the spokesperson said.
Adidas has been restructuring its business and capped off 2024 on a high note with sales and profits that came in higher than analysts and the company expected.
It has leaned on its classic Samba and Gazelle styles to boost sales and has also benefited from a slowdown at Nike, its biggest competitor.
Ninja Gaiden 4 is coming to Xbox
Queen evokes ‘deadly seeds of Holocaust’ in warning over antisemitism and Islamophobia | UK News
LBank Introduces Red Packet with 100 Million Giveaway to Cheer 2025
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