Washington investigative reporter, The New York Times
Several days of crypto-driven turmoil surrounding Donald Trump’s World Liberty Financial ventures have left nearly 1 million investors in the red, wiping out about $3.8 billion by the end of June. The president’s disclosed $636 million crypto payout in 2025 underscores the scale of the meme-coin saga and its fallout for ordinary buyers.
The latest updates show a widening gap between President Trump’s crypto push and investor outcomes. Strategy has sold Bitcoin, the Trump-backed memecoin plummets from its peak, and Trump Accounts are live but unclear in impact. Regulators and markets are reacting as billion-dollar losses mount for ordinary buyers.
President Trump has begun flying a $400m Boeing 747-8 donated by Qatar but used an older Air Force One during a July NATO trip after officials raised security concerns. The administration has launched a leak probe led by the FBI director and White House chief of staff; The New York Times reporters were subpoenaed as investigators sought sources about the jet's defensive capabilities.
Federal subpoenas have compelled several New York Times journalists to appear before a Manhattan grand jury over reporting on security weaknesses in the Qatari-donated Air Force One. The subpoenas were signed by U.S. Attorney Jay Clayton and follow an FBI review; the Times says the move threatens press freedom and vows to fight the orders in court.
Republicans on a Senate committee have voted to refer Dr. Anthony Fauci for possible contempt of Congress after he invoked the Fifth Amendment more than 100 times during a recent hearing. The measure, backed by committee chair Rand Paul, moves toward potential federal action despite a pre-emptive pardon covering actions through January 2025. The legal question centers on whether a pardon blocks Fifth Amendment protections in this setting.