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DOGE Targeted Him on Social Media. Then the Taliban Took His Family.
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DOGE Targeted Him on Social Media. Then the Taliban Took His Family.

by admin August 25, 2025


ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.

Reporting Highlights

  • Errors: DOGE staffers exposed a sensitive U.S.-funded Afghanistan program and falsely suggested a contractor was involved in an off-books mission.
  • Consequences: DOGE’s public outing led to a Taliban intelligence service crackdown in Kabul.
  • Fight: The Afghan scholar whom DOGE exposed is fighting to clear his name after his family was forced to flee the country.

These highlights were written by the reporters and editors who worked on this story.

It was early morning on April 1 when Mohammad Halimi, a 53-year-old exiled Afghan scholar, got a panicked message from his son. Halimi’s name had just appeared in a viral post on X, shared by none other than the site’s owner and the world’s richest man, Elon Musk.

Halimi thought his son was joking. It was April Fools’ Day after all. Musk had been assigned a big job in the Trump administration, running the newly formed Department of Government Efficiency that was established to comb through the government to root out waste and fraud.

Halimi had a much smaller job, working on a contract for the United States Institute of Peace, an independent nonprofit funded by Congress that promotes conflict resolution efforts around the world, including in Halimi’s native Afghanistan. There was no way, he thought to himself, that someone like him would have landed on Musk’s radar.

But Halimi’s son was not joking. He told Halimi to go online and see for himself. The post, which Musk shared with his 222 million followers, was real. It had already been picked up by the local press back home. And it was potentially deadly.

“United States Institute of Peace Funded Taliban,” the post read. At the bottom, the post named Halimi and described him as a “former Taliban member,” and the payments to him as U.S. support for the militants. Below that, thousands of comments tumbled in, calling him a terrorist and a grifter. Republican U.S. Rep. Marjorie Taylor Greene of Georgia later chimed in to congratulate Musk for discovering that “the federal government is paying the Taliban and they covered it up.”

Halimi couldn’t make any sense of it. Critics of U.S. foreign aid efforts might argue that his small contract of $132,000 with USIP amounted to waste. But if there was one thing Washington should have known about Halimi, it was that he was no enemy of America.

It was true that he’d once worked for the Taliban government that ruled Afghanistan in the 1990s, but he had switched sides after the United States invaded following 9/11. He had even served as a cabinet minister in the U.S.-backed Afghan government, where he often shared his knowledge of the Taliban’s internal workings with intelligence officials and military leaders.

In fact, during President Donald Trump’s first term in office, Halimi was part of a team of advisers that helped the U.S. prepare for difficult diplomatic talks with the Taliban, which eventually included guarantees to allow American troops safe passage out.

And his political views were easy to figure out: Halimi had made numerous media appearances as one of the Taliban’s more ardent critics, accusing them of straying from Islam’s true principles.

This all made him an obvious target. The Taliban had attempted to assassinate Halimi as a traitor at least three times during the U.S. occupation. And the U.S. government knew he had faced real danger in the past. He narrowly managed to flee Afghanistan in the final days before the U.S.-backed government fell to the Taliban, with the help of the second-highest-ranking CIA officer in the country. Since then, he had tried to live a mostly quiet life, partly to keep the relatives he’d left behind safe from retribution.

The work he was pursuing with USIP had nothing to do with supporting the Taliban. It was the opposite.

ProPublica has obtained records making clear that Musk and his team at the newly formed DOGE should have known this too. Halimi’s work at USIP was spelled out in precise detail in the agency’s records, down to the tasks he performed on specific days. His role at the institute was far from top secret, but it had been treated as highly sensitive and confidential. Among other tasks, it involved a program gathering information on the ground about living conditions for Afghan women, who are largely barred from education past primary school or from having a role in public life.

Partly because of Halimi’s contentious history with the Taliban, the militants might equate his work at USIP to espionage and severely punish anyone involved with it. By exposing him, Musk and his team endangered those working with Halimi, as well his relatives who were still in Afghanistan. The White House and Musk did not respond to requests for comment.

Multiple senior government officials at the State Department were warned about the danger that DOGE’s callout posed to Halimi’s family, according to two USIP staffers interviewed by ProPublica. They were trying to stop the damage from spreading. But Musk’s crew was then locked in a pitched battle for control of USIP. The misleading narrative about Halimi became central to DOGE’s argument; American foreign aid was corrupt and even, at times, funding America’s enemies — and that’s why DOGE had to take over.

Those battles were playing out across the government at the time. DOGE often won, but ultimately Musk’s tenure was short-lived. He resigned from DOGE at the end of May, shortly before a public falling-out with Trump. DOGE’s hard-charging takeovers of government agencies brought chaos and confusion and left many qualified bureaucrats jobless. But Halimi risked losing a lot more.

Shortly after Halimi spoke to his son, a flood of threatening messages began appearing on his phone. The most ominous came from members of the Taliban. Just as Halimi had worried, they accused him of being a thief and traitor, which could be like a death sentence for anyone connected to him back home. “My family was in great danger,” Halimi thought to himself.

About a week after DOGE outed him, Halimi’s worst fears were realized. Taliban intelligence agents in Kabul descended on the homes of his relatives and detained three of his family members. They were blindfolded, thrown into the backs of 4×4 pickup trucks and driven to a small remote prison. They were held incommunicado over several days and repeatedly beaten and questioned about Halimi and his recently publicized yet ambiguous work for the United States.

The account of the beatings is based on interviews with multiple people familiar with the events. ProPublica did not interview any sources in Afghanistan, a country where people are sometimes imprisoned for speaking out against the government.

Zabihullah Mujahid, chief government spokesperson for the Islamic Emirate of Afghanistan, said Halimi “is not important to us and we do not want to talk about him that much.” He added that there was no active criminal investigation targeting him. The spokesperson did not answer questions about the treatment of Halimi’s family, saying, “I do not consider it necessary to answer.”

While Halimi felt powerless to do anything, his relatives in Afghanistan braced themselves for even worse. He tried to put on a brave face, though he knew from his own near-death experiences with the Taliban that the situation was increasingly bleak.

“To keep the morale of the family high, I did not show them my panic,” he told ProPublica in one of multiple interviews conducted through a translator.

He’d been frantically reaching out to his bosses in Washington to ask what was behind Musk’s social media blasts against him and to seek help clearing his name. But everyone Halimi worked with had been fired.

A 28-year-old college dropout named Nate Cavanaugh had been installed as USIP’s new president. DOGE had ousted its leader, State Department veteran George E. Moose.

Halimi and his loved ones were on their own. Maybe, they hoped, this would all pass if they stayed quiet and lay low. Then Musk and DOGE took their campaign against USIP and Halimi to another level.

In May, a little more than a month later, DOGE invited Fox News host Jesse Watters to sit in and film one of its team meetings. It was the first major media appearance by the larger DOGE team. For nearly 30 minutes on prime-time TV, Musk and more than a dozen triumphant young men in suits sat around a table congratulating one another. They swapped war stories about the government fraud they had exposed and the wasteful bureaucrats they had brought to heel.

At that point, DOGE was riding high: It had mostly shut down the U.S. Agency for International Development, the main foreign aid agency. The watchdog Consumer Financial Protection Bureau had been reduced to a skeleton crew. And at the Department of Education, DOGE had cut hundreds of millions of dollars to an internal research arm that tracks the performance of public schools.

For weeks, DOGE had been posting online hundreds of contracts it had canceled and tallying up the savings — though in multiple cases, the totals were later found to be wildly off, or the contracts mostly misrepresented. The White House has defended the accuracy of DOGE’s claims, with a spokesperson recently saying, “All numbers are rigorously scrubbed with agency procurement officials.”

With Watters, the DOGE team zeroed in on government spending. Steve Davis, Musk’s right-hand man at DOGE, shared an eye-popping example of waste from the Education Department. He said that the department had misused taxpayer money by funding parties at Caesars Palace, a casino and hotel in Las Vegas, before DOGE implemented new requirements to submit receipts. The claim appeared to have little resemblance to the truth: One school district in Utah had used DOE funds to send teachers to an education conference hosted at a Caesars hotel. Davis did not reply to a request for comment.

Musk went around the table, prodding the other members of the team as they one-upped one another with outrageous examples of their own. With each story, Watters egged them on, raising his eyebrows in disbelief. Every so often, the DOGE team would burst into laughter.

At one point, Musk cued Cavanaugh with an awkward joke about how the work he’d found being done at the United States Institute of Peace was actually “the opposite of the title.”

Cavanaugh agreed, saying, “It was by far the least peaceful agency we worked with.” To prove his point, he turned toward Watters and said he’d uncovered documents showing that the agency was making payments to a contractor associated with the Taliban.

Watters looked at Cavanaugh in disbelief: “Get out of here.”

“This is real,” Cavanaugh said. Watters raised a hand, pressing on: “What was the money going to the Taliban for? … Was it for opium, or weapons, or a bribe?”

“Or nothing,” Musk interjected.

He and Watters burst into laughter. The chyron at the bottom of the screen read, “THE TALIBAN GETS DOGED.”

In a statement, a spokesperson with Fox News said, “It’s clear ProPublica is trying to insert FOX News into this story despite acknowledging the network having no part in any unmasking or identification of the independent contractor.” The spokesperson added, “At no point was the contractor identified, and the focus of the interview was on extreme spending practices and potential billing fraud within government agencies.”

In an email, Cavanaugh said he was mandated by Trump to dismantle the USIP, and “that includes the contract with former Taliban member Mohammad Qasem Halimi.” Cavanaugh added, “An overwhelming majority of Americans would agree that the Federal Government should not be funding former members of the Taliban when our country is $36T in debt.” He did not respond to questions about why DOGE chose to publicize Halimi’s contract or whether it knew the risk in doing so.

While DOGE initially referred to Halimi as a “former Taliban member,” the distinction was sometimes lost as Halimi’s contract became a viral social media and news story. For example, one social media post claiming that USIP had been “funding multiple terrorist organizations” was viewed by more than 180,000 people. And on Fox News, Cavanaugh dropped the reference that Halimi was a “former” Taliban member, describing his USIP work simply as payments to the Taliban.

Cavanaugh told Watters that DOGE was unable to find any justification for those payments. But ProPublica’s reporting showed that four weeks earlier, Cavanaugh had been sent dozens of pages of internal records from USIP outlining Halimi’s work in detail, according to documents obtained under the Freedom of Information Act. There were invoices, project descriptions, and dates and times showing what Halimi was supposed to be doing on specific days. Cavanaugh did not respond to questions about his access to these records or how they appeared to conflict with his statements on Fox News.

USIP’s own records, obtained by ProPublica, show that none of the institute’s work involved payments to the Taliban. Much of what Halimi did was actually routine foreign policy consulting: He provided expert advice to the State Department to help U.S. diplomats understand religious dynamics and civil society in Afghanistan. He was paid to attend Islamic conferences, where he made contact with other prominent political and religious figures across the Middle East on behalf of the USIP.

He was also an adviser to USIP on women’s issues in Islam, something he was uniquely qualified to do both personally and professionally. Years earlier, Halimi’s sister had been murdered by her husband in an act of domestic violence, and Halimi spoke about her openly and emotionally, recalled Mary Akrami, an Afghan women’s rights advocate who opened the country’s first women’s shelter after the Taliban fell.

As an official in the government of Hamid Karzai, Halimi was an outspoken advocate for the shelter. “He was one of the most supportive and open-minded religious scholars I have ever known,” Akrami said in an interview.

Halimi went on to serve in a number of high-profile posts in the U.S.-backed government, including as an investigator at the Supreme Court, a spokesperson for the national religious council, an adviser to the national security council, and finally the minister for religious affairs and hajj under the last democratically elected president, Ashraf Ghani.

After the Fox News interview, Halimi was struggling to move forward. By early spring, the Taliban had released his beaten and terrified family members. But they made it clear that they expected Halimi to publicly admit that he was an American spy. There were no good options. Such an admission would mean that his family would never be safe again, since they’d forever be associated with a traitor. But if he refused, they would also be under constant pressure.

Halimi had barely escaped the country four years earlier, when the U.S.-backed government he worked for collapsed in the face of a rapid Taliban military advance into the capital. A prominent Taliban cleric had publicly singled him out as an apostate — a traitor to Islam — placing a bullseye on his head. And Halimi said that a broad amnesty offer from the Taliban, extended to most of their enemies, would not apply to him. (The Taliban spokesperson told ProPublica that Halimi was free to return to Afghanistan.)

The situation was dire, and the U.S. government knew it too. In those final days, a CIA operative reached out to Halimi and directed him to catch an evacuation flight. Disguised as an ambulance driver and with his nephew donning a nurse outfit, Halimi evaded multiple Taliban checkpoints en route to the U.S.-controlled airbase at Bagram. A CIA spokesperson declined to comment. The Pentagon declined to comment and referred questions about Halimi’s past work with the U.S. to the State Department.

“I never cried harder in my life than I did that night when I left my country,” he told ProPublica. “But I had no choice.”

It wasn’t Halimi’s first time in exile.

When he was 7 years old, his mother took him and his six siblings across the border to Pakistan to escape the civil war that engulfed Afghanistan after the Soviet invasion. “My earliest recollections are just of war, of violence, of blood and of killings,” Halimi said. “My mother used to tell me Afghanistan was a peaceful place in the past. I have no memory of it.”

Halimi’s father, the town imam in a rural Afghan village, had died when Halimi was young. He and his siblings grew up in a tent across the border within a refugee camp. From a dirt-floored classroom, Halimi found a way out through a scholarship to study Islamic law in Egypt.

Halimi’s time in Cairo, where he socialized with international students from across the globe, changed him. He began looking at the world differently, he said, with a curiosity about other cultures and a lifelong interest in foreign languages.

But by the time he returned home, a group of conservative religious students turned rebel fighters were dominating Afghanistan’s messy, multisided civil war and had consolidated power over the capital. They were known as the Taliban.

Halimi took a job in a government office responsible for dealing with foreign diplomats, not because he believed in Taliban ideology, but because, for a man with a college degree and political aspirations, “it was the only good job I could find,” he said.

Then came the U.S. invasion, which ousted the Taliban government and ushered in a bloody, protracted war. The George W. Bush administration ordered the detention of swaths of the Taliban government at a giant prison at Bagram Airfield. Halimi was among them. The treatment was brutal. He was constantly shackled by his hands and feet, except for short bathroom breaks. But along the way, he said, he learned English and built an understanding of his captors.

While some prominent Taliban fighters and leaders were sent to Guantanamo, Halimi, as a relatively unknown bureaucrat, was part of a group that was gradually let out. Some people were enlisted to join the U.S.-backed government; their experience made them useful to Washington and its local allies’ efforts to understand, and even communicate with, the Taliban.

In those early days of the conflict, the U.S. military and intelligence communities were under tremendous pressure to stop further attacks on the homeland. Yet they knew virtually nothing about their assumed enemy. What followed was two decades of American military intervention across the region that led to hundreds of thousands of civilian deaths and the resurgence of the very groups the U.S. once sought to unseat.

When U.S. forces finally withdrew for good from Afghanistan in late 2021, so did Halimi. His country had been savaged by warring powers for decades. Somehow, he had managed to stay alive through all of it, but now there was no place for him.

Nate Cavanaugh had nothing in his background to suggest he would be chosen to wind down an international conflict-resolution agency. His 15 minutes of fame on Fox News represented an unlikely turn for a young man who’d spent his short career founding niche tech startups.

Cavanaugh comes from a wealthy family — his father built a $100 million sports supplement company — and he told people he was inspired by the tech mogul Peter Thiel. He started two small companies, which focused on specialized software tools to help companies manage their finances and intellectual property. But investors in both told ProPublica that neither company successfully took off.

When DOGE was announced, Cavanaugh was eager to join up, a former co-worker told ProPublica. It’s not clear how he ultimately got connected to the group, but DOGE recruited heavily from young right-wing tech circles in California.

Friends and former colleagues said they’d never heard him discuss American foreign policy or show an interest in geopolitics. Yet in January, as a leader in Musk’s DOGE, he was assigned to evaluate and oversee budget cuts across a variety of federally funded international programs. Among the agencies in Cavanaugh’s portfolio were the Inter-American Foundation and African Development Foundation. He was part of the DOGE team that sought cuts at the National Endowment for the Humanities and redirected its funds to build a park full of statues of “American Heroes,” according to a lawsuit by NEH grant recipients.

But it was the U.S. Institute of Peace, housed in a futuristic, glass-encased building overlooking the Potomac River in downtown Washington, where Cavanaugh hit resistance. Established under President Ronald Reagan, the agency had once enjoyed bipartisan support. While it’s largely taxpayer funded, USIP is not a government agency; its contracts have not typically been posted publicly, and its employees operate with a degree of removal from U.S. officialdom. That gives the institute some ability to operate behind the scenes and establish relationships with figures at the center of complex conflicts — figures such as Mohammad Halimi.

It’s often pushing informal diplomacy: In 2023, for example, USIP staff helped facilitate a ceasefire between Islamic rebels and the government of the Philippines in the country’s restive south.

But in 2024, the Heritage Foundation — which led Project 2025 — published a report arguing that USIP had become a partisan, Democrat-controlled institution.

When Cavanaugh and several other DOGE officials first showed up to take control of the USIP in March, he was physically blocked from entering the building by its security chief, Colin O’Brien, who spent 15 years working as a police officer before joining the institute. Cavanaugh tried to enter again a little later, this time with two FBI agents in tow. O’Brien blocked him again, believing Cavanaugh and DOGE had no business dismantling the USIP, which had been established by Congress as an independent entity.

Over the next few days, DOGE put more pressure on O’Brien. FBI agents indicated O’Brien was the subject of a new Justice Department investigation. And they visited the home of one of his subordinates for questioning. Ultimately, the interim U.S. attorney in Washington at the time, Trump ally Edward Martin, demanded that USIP officials give DOGE access to the building.

The next time Cavanaugh appeared at the agency’s door, he and a phalanx of local police officers forced their way in. “I am a firm believer that what makes this country special is that we follow laws and process,” O’Brien said. “What happened that day was the antithesis of everything I believe in.”

An FBI spokesperson declined to comment on the role of FBI personnel in the takeover. Martin did not respond to a request for comment. A spokesperson for the Metropolitan Police Department of D.C. referred ProPublica to a published statement, which said that police officers spoke with the new acting USIP president and assisted him in removing “unauthorized individuals” from the building.

Once in possession of its offices and information systems, Cavanaugh and his team fired virtually all USIP personnel, including over 100 overseas staff. With little warning or awareness of the potential danger to overseas employees, former staffers said, they shuttered USIP offices in Pakistan, Nigeria and El Salvador. After DOGE fired USIP’s international security team, its staff in Libya feared for their safety and were forced to flee on their own across the border. Cavanaugh and his staff canceled more than 700 contracts over 12 days.

They rifled through other USIP files, spotlighting expenditures they used to publicly embarrass the institute. On Fox, DOGE also bragged about uncovering payments for “private jets,” when, in fact, records show that USIP chartered a single plane for an evacuation mission out of a war zone for its staff. Cavanaugh did not answer a question about the assertion.

Over the following weeks, the DOGE team celebrated its newfound power inside the USIP building. Members were seen smoking cigars in the office and drinking beer as they worked late into the night. The agency’s insignia was torn from the entryway.

“DOGE was completely indifferent to the effect their actions had on human beings,” said Barnett Rubin, an Afghanistan expert who has served as a senior adviser for the United Nations and State Department. All it cared about, he said, was making “its enemies look bad.”

Months after Musk’s fateful retweet, Halimi is still picking up the pieces and trying to get answers.

During his long career as an official in the Afghan government, Halimi often rubbed shoulders with senior U.S. diplomats and generals, but now no one in the Trump administration is calling him back. He proudly showed ProPublica a letter he received from Stephen Hadley, the former U.S. national security adviser under George W. Bush, thanking him for his contributions to “promoting democracy” in Afghanistan.

Former senior State Department, White House and national security officials who worked on Afghanistan over the last two decades described the Trump administration’s attack on Halimi as not only absurd, but also dangerous.

Johnny Walsh, a former State Department official who worked with Halimi, recalled that “he wanted the same thing as the Trump administration,” which was for a peaceful end to the war.

Lisa Curtis, a former senior adviser to the National Security Council who focused on Afghanistan in the first Trump administration, said, “DOGE did not do their homework. They are putting at risk individuals who are helping the United States.”

As for the graying Afghan scholar, the Taliban relented just long enough for several family members to make it out of the country. ProPublica is not disclosing how that happened or where they are for their safety, but they remain stranded without immigration status.

Cavanaugh, DOGE’s man inside USIP, announced he was leaving government service on Aug. 6. In a tweet, Cavanaugh thanked Trump “for the opportunity to help reduce wasteful spending” and said that “I’m hopeful the United States continues to prioritize sensible spending — I believe it is critical to maintain our supremacy 🇺🇸.”

USIP’s operations have been essentially frozen. Its headquarters is under federal control — standing empty aside from a few security guards monitoring the entrances. A new acting president, Darren Beattie, was named in late July.

Beattie is a former Duke University professor and Trump speechwriter who was fired in 2018 after it came out that he spoke at a conference regularly attended by white nationalists. Beattie did not address a ProPublica question about the event but previously dismissed the criticism, calling it “an honor to be attacked by the far-left.”

At USIP, he has promised to rebuild the organization to match the Trump administration’s foreign policy priorities.

In an emailed statement to ProPublica, Beattie defended the administration’s treatment of Halimi. The takeover of USIP, he wrote, “underscores President Trump’s resolve to end the weaponization of government, cut off funding to adversaries, and shut down reckless so-called peacebuilding programs that end up undermining our national security.”

George Foote, the former head lawyer of USIP who still represents its old leadership in ongoing litigation against the Trump administration, called DOGE’s outing of Halimi “criminally careless.”

Halimi remains without work. He wonders how he will support his wife and children and whether there’s any chance he can clear his name. At the very least, he hopes that the Trump administration will admit the error that has caused his family so much harm.

In one of ProPublica’s final interviews, Halimi made a last request: Could we help him get an audience with Musk?

“Why would one of the richest men in the world commit such an act of injustice?” Halimi asked. “Sometimes I think that if Elon Musk himself were fully informed about this matter, he would likely be deeply ashamed.”



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August 25, 2025 0 comments
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Fed Rate Social Media Mentions Surge Is A Red Flag For Crypto
Crypto Trends

Fed Rate Social Media Mentions Surge Is A Red Flag For Crypto

by admin August 24, 2025



The surge in social media chatter around the highly anticipated US Federal Reserve September interest rate decision could be a warning sign for crypto, says sentiment platform Santiment.

It comes after the crypto market rallied on Friday and market sentiment returned to greed following Fed Chair Jerome Powell’s dovish remarks at the annual Jackson Hole economic symposium. He hinted that the first rate cut of 2025 could come in September.

“Historically, such a massive spike in discussion around a single bullish narrative can indicate that euphoria is getting too high and may signal a local top,” Santiment said in a report on Saturday. The firm said that social media mentions of keywords tied to the Fed and interest rate cuts have jumped to their highest level in 11 months.

Santiment urges caution as analysts are divided

“While optimism about a rate cut is fueling the market, social data suggests caution is warranted,” Santiment said. 

Santiment has detected an increase in mentions of the keywords: Fed, rate, cut, and Powell. Source: Santiment

Powell said during his speech on Friday that current conditions in inflation and the labor market “may warrant adjusting” the Fed’s monetary policy stance. According to the CME FedWatch Tool, 75% of market participants expect a rate cut at the September meeting.

Many crypto analysts have based their crypto market forecasts on the Fed’s decisions throughout this year. While some see a rate cut as a potential bullish catalyst, others are divided on the outcome.

Source: Coinbase Institutional

After Powell’s speech, crypto trader Ash Crypto said, “the Fed will start the money printers in Q4 of this year,” along with two rate cuts, which means “trillions will flow into the crypto market.”

“We are about to enter parabolic phase where Altcoins will explode 10x -50x,” Ash Crypto said.

Analyst warns crypto may face short-term pressure

Others suggest that the crypto market may not immediately see the impact of a Fed rate cut.

On April 11, 10x Research head of research Markus Thielen said, “Expecting a bullish impulse is too early.” He said that while a longer-term price opportunity for Bitcoin (BTC) could emerge, it may face short-term pressure driven by recession fears.

Related: BTC climbed to 1.7% of global money before Fed chair signaled rate cut

Meanwhile, some say that if the Fed takes no action this year, it could lead to headwinds for the crypto market.

On March 9, network economist Timothy Peterson warned that if the Fed holds off on rate cuts in 2025, it may cause a broader crypto market downturn.

Magazine: Can privacy survive in US crypto policy after Roman Storm’s conviction?



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August 24, 2025 0 comments
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GameFi Guides

SEC Punts on Trump Media Bitcoin and Ethereum ETF Decision, Plus XRP and Dogecoin Funds

by admin August 19, 2025



In brief

  • The SEC will decide on the Truth Social Bitcoin and Ethereum ETF on October 8, likely after a rules change request from two exchanges that could shorten approval processes.
  • The agency delayed decisions on XRP funds from Grayscale, Bitwise, CoinShares, Canary Capital, and 21Shares.
  • It also pushed back deadlines on separate Dogecoin and Litecoin ETFs, and a proposal to add staking to an existing spot Ethereum ETF.

The U.S. Securities and Exchange Commission has delayed its decisions on an exchange-traded fund proposed by Donald Trump’s media and technology company to track the performance of Bitcoin and Ethereum and seven other ETFs based on single digital assets.

In a filing Monday, the regulator said that it moved its deadline back 45 days for weighing in on the Truth Social Bitcoin and Ethereum ETF to October 8.

It announced identical delays for applications filed for spot XRP funds by Grayscale, CoinShares, Canary Capital, Bitwise and 21Shares, a spot Dogecoin ETF from Grayscale, and a spot Litecoin product from CoinShares, although the dates for potential approvals of those funds vary.

It also held up resolving a request to add staking to the the 21Shares Core Ethereum ETF, which tracks the price of the second-largest cryptocurrency by market value.



The delays comes four days after the agency delayed decisions on Solana ETFs from Bitwise, 21Shares, and VanEck, and a Dogecoin fund from 21Shares.

The SEC is weighing a wave of proposals tracking cryptocurrencies. Those submissions have resulted from the dramatic success of 11 spot Bitcoin and nine Ethereum ETFs, a more favorable political environment for cryptocurrencies ushered in by the Trump administration, and growing interest by traditional finance giants who were formerly resistant to the asset.

The filings also follow roughly three weeks after two major U.S. exchanges asked the SEC to approve amendments that could significantly shorten the approval process for future crypto exchange-traded funds, automatically listing certain products without requiring case-by-case filings.

In separate filings, Cboe BZX and NYSE Arca requested changes to their listing standards that would allow certain crypto ETFs to be listed without enduring the SEC’s rigorous evaluation under Rule 19b-4, a process that requires exchanges to submit proposed rule changes. Under current guidelines, such reviews of proposed changes to funds could take 240 days.

Bloomberg Senior ETF Analyst Eric Balchunas told Decrypt that the SEC’s filings Monday were “nothing significant,” and were likely timed to follow a probable SEC green light of Cboe and NYSE’s amendments next month following the conclusion of a comments period.

“Even though it feels like ‘Isn’t this SEC supposed to approve all this stuff?’, the listing standards are out for comment,” Balchunas said. “So just in the nick of time, these listing standards should be approved. And then we’re anticipating a batch of approvals based on the listing standard starting in October.”

“So this delay feels discouraging, but it’s just a little more patience,” he added. “It’ll all happen soon.”

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August 19, 2025 0 comments
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News Tower early access
Product Reviews

1930s media mogul sim News Tower leaves early access in November, letting you build your journalism empire on the shoulders of the Mafia

by admin August 17, 2025



Playing a game about being in the newspaper business sounds a bit like a busman’s holiday to me, though with News Tower being set in the 1930s, at least the bus won’t be at constant risk of breaking down or steering into a ravine.

In any case, I’m always up for a new spin of the management sim, and that goes double when your managerial duties also involve dealing with the Mafia. Such criminal complications is one of several new features News Tower will add when it publishes its 1.0 edition this November.

News Tower sees players don the waistcoat of a newly minted media mogul aiming to seize control of Noo Yoik Ciddy through the power of print. Starting with just your own willpower and, er, an entire skyscraper at your disposal, you’ll build a functioning newsroom by hiring journalists and photographers, assigning them leads, and assembling your paper article by article before sending it off the presses every Sunday.


Related articles

But News Tower is about more than what happens in the newsroom. Your magnate’s goal is to have total oversight of what the city reads. Your news tower exists in a larger overworld map where you can attempt to push two rival papers—The Jersey Beacon and the Empire Observer—out of other regions and claim their readers for yourself.

The 1.0 version will bring several extra layers to this. Within your tower, the perception system allows you to define your paper’s editorial voice, choosing between informational, moderate, or sensationalist styles. This decision will affect how readers view your paper, and enable you to boost your sales in as-yet unspecified ways.

News Tower – Release Date Announcement – YouTube

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In the streets, meanwhile, there are two new mechanics at play. The first is that competition system I already referred to, though there’s a lot more to it than what I summarised. Your competitors only appear once you already control a sizeable chunk of New York, which you achieve by rolling out your paper into new districts on a weekly basis.

Once your rivals appear, you can choose either to prioritise empty districts, or muscle in on a competitor’s turf. If you opt for the latter, this will trigger a journalistic scuffle over that region’s news, with both papers competing over time-sensitive stories and one-off scoops that can be nabbed by a carefully placed reporter.

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Beyond this, News Tower’s release version will also introduce a faction system. Here, you can align your paper with one of several non-media organisations in the game. These are the mayor’s office, the military, high society, and the Mafia.

Developer Sparrow Night hasn’t explained this in as much detail as the competitor system yet, but it appears more narrative focused, with set quests you can take on to build your reputation with a given faction. Those objectives might oppose the interests of another faction, though, so you’ll need to choose your allies (and your enemies) carefully.

News Tower leaves early access on November 4. Alexander Chatziioannou proof-read the alpha version in February last year, and found its approach to building a virtual paper to be both characterful and smartly implemented. “Sparrow Night has come up with an array of unexpected flourishes and tactical dilemmas inject considerable depth into the process, meaningfully interweaving individual assignments with the overall progress of your organisation.”

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Court blocks FTC investigation into Media Matters’ alleged scheme against X

by admin August 17, 2025


The court has blocked the Federal Trade Commission’s investigation into Media Matters, the media nonprofit that previously published research showing that ads appeared on X alongside neo-Nazi and other antisemitic content. In 2023, Elon Musk’s X filed a lawsuit against the media watchdog following an advertiser exodus. It accused Media Matters of “knowingly and maliciously manufactur[ing] side-by-side images depicting advertisers’ posts on X Corp.’s social media platform beside Neo-Nazi and white national fringe content.” Just this May, the FTC started looking into whether the nonprofit violated antitrust laws by allegedly colluding with advertising and advocacy groups to boycott X.

In June, Media Matters sued the FTC, accusing it of unfairly targeting the group in retaliation for past criticisms of X. “The Federal Trade Commission seeks to punish Media Matters for its journalism and speech in exposing matters of substantial public concern — including how X.com has enabled and profited from extremist content that proliferated after Elon Musk took over the platform formerly known as Twitter,” the group said at the time. Now, Judge Sparkle L. Sooknanan has granted a preliminary injunction in the nonprofit’s favor.

Sooknanan has agreed with the group that the FTC’s investigation is “a retaliatory act” and has noted that it is “likely to succeed on its First Amendment retaliation claim.” She wrote in her decision that such probes would deter other reporters from speaking again. “Indeed, the FTC’s [investigation] has had its intended effect.” Apparently, because of the probe, Media Matters has “decided against pursuing certain stories about the FTC, Chairman Ferguson, and Mr. Musk.”

“The court’s ruling demonstrates the importance of fighting over folding, which far too many are doing when confronted with intimidation from the Trump administration,” Angelo Carusone, the president of Media Matters, told The New York Times. “We will continue to stand up and fight for the First Amendment rights that protect every American.” As the publication notes, courts had also blocked investigations into the group by the attorneys general in Texas and Missouri. Musk’s lawsuits against the nonprofit, however, are still ongoing.



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August 17, 2025 0 comments
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Excited for Death Stranding 2? Beware of the wave of spoilers flooding YouTube and social media
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Excited for Death Stranding 2? Beware of the wave of spoilers flooding YouTube and social media

by admin June 25, 2025


Spoilers for Death Stranding 2 are flooding social media and YouTube, posted by those who bought the digital deluxe edition of the game.

This digital deluxe edition, which provides a 48-hour early access window to those who buy it, released on the 24th June. For owners of the regular version, the game becomes available tomorrow on the 26th June.

Those who have been able to play early have been keen to share their experiences online, but given how narratively rich Death Stranding 2 is (and the whole catalogue of Kojima’s works), this has led to a deluge of early game story moments and equipment popping up on the internet.

Why not check out our video review of Death Stranding 2. No spoilers!Watch on YouTube

Death Stranding 2, a game which takes between 35-50 hours to beat, is a chunky experience, especially for completionists. However, given the fact deluxe edition owners will obviously continue to play and post their screenshots and videos online as they proceed into the game’s later moments, it’s best to stay away from such platforms if you’re looking to go in fresh.

It’s been a rough few days for the spoiler-averse. Earlier this week, the opening hour of the game leaked online, giving away all the twists and turns the game throws at you in the game’s opening scenes.

One could argue plenty of story moments have already been revealed ahead of launch, due to a release trailer for the game which featured plenty of cinematics from throughout the game’s runtime. Still, it’s nice to go in without knowing the surprises that await you. Except for some of the spoiler-free technical stuff maybe, like the fact Death Stranding 2 benefits from super fast load times. Cool!

If you want a spoiler-free impression of what the game is like, why not read Eurogamer’s Death Stranding 2 review! In it, the game is described as: “A busier, louder, and more emotionally resplendent take on this singular hiking sim.” No spoilers necessary!



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June 25, 2025 0 comments
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Media Matters is suing the FTC to block investigation into X advertiser boycott
Product Reviews

Media Matters is suing the FTC to block investigation into X advertiser boycott

by admin June 24, 2025


Media Matters for America has sued the US Federal Trade Commission, claiming that the agency is unfairly targeting it in retaliation for past criticisms of the social media platform X in violation of the organization’s First Amendment rights. It’s the latest move in the ongoing hostilities between the nonprofit media watchdog and X owner Elon Musk.

“The Federal Trade Commission seeks to punish Media Matters for its journalism and speech in exposing matters of substantial public concern—including how X.com has enabled and profited from extremist content that proliferated after Elon Musk took over the platform formerly known as Twitter,” the complaint from the watchdog states. “The campaign of retribution against Media Matters must stop.”

This back-and-forth legal battle began in 2023 when Media Matters published a report finding that X ran advertisements next to antisemitic posts, which led to many prominent companies withdrawing their ads from the social media network. After Musk threatened to file a “thermonuclear lawsuit” in response, X sued Media Matters later that year, claiming the organization was attempting to push advertisers into boycotting its service. CEO Linda Yaccarino called the report “misleading and manipulative” in a note to X employees, while a representative from Media Matters told Engadget: “This is a frivolous lawsuit meant to bully X’s critics into silence. Media Matters stands behind its reporting and looks forward to winning in court.”

Last month, while Musk was still closely tied to President Donald Trump’s administration and working with the so-called Department of Government Efficiency, the FTC launched its own investigation into Media Matters to determine whether the group illegally colluded with advertisers. The FTC is now comprised of only three Republican commissioners following Trump’s dismissal of two Democratic commissioners, which those former civil servants said was an illegal action by the president since their terms cannot be ended early without “good cause.” Considering that earlier today, the FTC allowed a $13.5 billion acquisition within the advertising agency on the condition that purchaser Omnicom cannot engage “in collusion or coordination to direct advertising away from media publishers based on the publishers’ political or ideological viewpoints,” it seems unlikely that the regulator will be receptive to Media Matters’ case.



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June 24, 2025 0 comments
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Trump Media Seeks Approval For Dual Crypto ETF Focused On Bitcoin And Ethereum

by admin June 17, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Trump Media & Technology Group (TMTG) has filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will invest in both Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies. 

This filing, reported by Reuters, marks the second exchange-traded fund proposal from the company in less than two weeks, indicating a strong push into the digital asset market.

New Crypto ETFs From Trump Media

If approved, the proposed Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would enter a crowded market already dominated by established players like BlackRock, whose iShares Bitcoin ETF boasts an impressive $72.5 billion in assets. 

Bryan Armour, an ETF analyst at Morningstar, emphasized the hurdles faced by new entrants in this sector. “It will be a challenge for any new entrant in this market,” he noted, adding that the primary ways to stand out will be through competitive fees or strong branding. 

Currently, similar exchange-traded funds charge operation fees around 0.12%, but details on the fees for Trump Media’s new offerings for the dual Bitcoin and Ethereum funds remain undisclosed.

Balanced Exposure With Bitcoin And Ethereum Holdings

The latest filing also specifies an allocation strategy between Bitcoin and Ethereum, indicating that the fund will initially hold three Bitcoin for every Ethereum token. 

This approach suggests a strategic positioning that could appeal to investors looking for a balanced exposure to both leading cryptocurrencies.

Sui Chung, CEO and chairman of CF Benchmarks, pointed out that the unique aspect of these ETFs may lie in their marketing strategy:

There is little that is different about this new venture other than the way it could be markete. Given Truth Social’s involvement, it may very well be that (these) are marketed directly to individual investors and that this ends up getting attention from those investors in the same way that people who love their iPhones buy Apple stock

The daily chart shows BTC’s price recovery. Source: BTCUSDT on TradingView.com

At the time of writing, Bitcoin is trading at $107,715, marking a 4.1% gain on the monthly timeframe. This comes as the market’s leading cryptocurrency failed once again to gain a foothold above the key $111,000 mark, preventing it from making new all-time highs. Currently, BTC is trading 4% below its record price.

Ethereum, on the other hand, trades at approximately $2,613 per token. It has recorded gains of a little over 5% in the past thirty days and has been one of the best performers for June so far. 

Nevertheless, ETH remains well below its record high, which was reached nearly four years ago. There is a 46% gap between the current price and the record high of $4,878.

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 17, 2025 0 comments
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Prince of Persia social media botch forces Ubisoft to promise once again that it’s still working on The Sands of Time

by admin June 16, 2025



In what seems like an entirely out-of-nowhere reminder, a surprise message on the Prince of Persia X account has popped up to promise everyone that yes, Ubisoft is still working on The Sands of Time “behind the scenes,” and no, it has nothing more to say about it. It’s all a bit odd, and almost entirely random, but scrolling back through the social media feed reveals that there is actually a good reason for the unprompted message—and by “good” I mean pretty silly.

First things first, a quick timeline on The Sands of Time Remake. It was originally supposed to be out in January 2021 but was delayed a couple months because “2020 has been a year like no other,” and boy, we really had no idea, did we?

Fair enough, then—and also a reminder of how long this whole thing has been dragging on—but another delay followed without a new release date—never a good sign—and then another, and eventually it got to the point where Ubisoft was reduced to promising the whole thing hadn’t been cancelled (but had been delayed (again)). There was a new studio, and more studios, a whole-ass reboot in mid-2023, a delay into 2026 with an unexplained title change, and honestly: Why is it so hard to make a game you already made 20 years ago?


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Anyway, I re-litigate all of this because it amuses me to do so, but also because the events leading up to today’s seemingly random missive on social media also have a timeline explaining why Ubisoft would just put this out for no apparent reason, which we will now dive into.

It begins on June 9, with the appearance of an ominous message: “Something is lurking in these waters,” words made even more noteworthy because of their appearance one year, almost to the day, after Ubisoft’s most recent Sands of Time update, the one where the “Remake” part of the title was dropped. Exciting stuff for those who noticed, but not many noticed because the message was quickly deleted.

This guy noticed, though.

(Image credit: RickGrimes989 (Twitter))

It turned out the message that got Sands of Time hopefuls all worked up was in fact intended for the For Honor account, to tease the reveal of the next season:

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Something is lurking in these waters.. pic.twitter.com/7jFZw72c2hJune 9, 2025

Ubisoft copped to the whiff in short order.

(Image credit: Ubisoft (Twitter))

Unfortunately, it didn’t help calm things down: Some fans were convinced Ubisoft really did have something to show, others begged for anything, and a few seemed to have simply reached their limit with the whole thing:

(Image credit: Twitter)

Which brings us to today’s update, posted just shy of a week after everything went sideways with a For Honor tease.

“Yep, we’re still deep in the game—exploring, building, and ensuring the sands move with purpose,” Ubisoft wrote. “This game is being crafted by a team that truly cares, and they’re pouring their hearts (and a lot of coffee) into every step. Thank you for sticking with us.

“While development continues behind the scenes, there’s another adventure waiting for you right now: The Rogue Prince of Persia—fast, stylish, and built with the same dedication.”

(Image credit: Ubisoft (Twitter))

So there you have it: Yes, Prince of Persia: The Sands of Time is still in development, and no, there’s nothing to see here but a social media guy who probably didn’t have the best weekend ever. Sorry.

Prince of Persia: The Sands of Time does not have a release date yet, but for now it remains on target for sometime in 2026. We’ll see.





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June 16, 2025 0 comments
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Trump Media Files to Launch Truth Social Bitcoin and Ethereum ETF

by admin June 16, 2025



In brief

  • Trump Media filed with the SEC for approval to launch a dual Bitcoin and Ethereum ETF under the Truth Social banner.
  • The firm is working with Yorkville America Digital and Crypto.com on its ETF plans, including a previous Bitcoin fund filing.
  • Trump Media recently raised $2.4 billion with plans to establish a Bitcoin treasury.

Trump Media and Technology Group, via partnered firm Yorkville America Digital, filed with the SEC to launch a joint Bitcoin and Ethereum ETF, according to a Monday filing.  

The filing proposes a holdings ratio of 75% Bitcoin and 25% Ethereum, with Crypto.com acting as the custodian, execution agent, and liquidity provider.

“The launch of the Truth Social Bitcoin and Ethereum ETF is pending effectiveness of the registration statement as well as approval of a Form 19b-4 filing with the SEC. Upon launch, the shares will be listed on NYSE Arca,” a statement from Trump Media reads. 

The filing is not the first connection for Trump Media and Yorkville, which previously sponsored the entity’s filing for a standalone Bitcoin ETF in early June called the Truth Social Bitcoin ETF.



Much like that filing, the fund was registered as a Nevada business trust rather than a Delaware statutory trust, like many ETFs.  

In addition to those two filings, the pair and Crypto.com aim to offer a suite of “America First” products, like the America First Bitcoin Fund (AFBF), America First Blockchain Leaders Fund (AFBLF), and the America First Stablecoin Income Fund. To date though, only the Truth Social Bitcoin ETF and the Truth Social Bitcoin and Ethereum ETF have SEC filings.

The latest filing furthers the Trump Media and Technology Group’s growing entwinement with crypto. In late May, it raised $2.4 billion to start its own Bitcoin treasury, though the company has yet to announce any BTC acquisitions.

Prior to that, President Trump’s firm—which operates social media site Truth Social, a streaming platform called Truth+, and a financial technology brand called Truth.Fi—teased that it may launch its own wallet and token. 

Furthermore, Trump’s family has become connected to a variety of crypto projects as the President’s administration loosens restrictions on the industry. 

Famously, the President launched an official meme coin on the Solana blockchain back in January, just days before his inauguration. Prior to that was the launch of Ethereum DeFi protocol World Liberty Financial, which has since launched its own governance token and stablecoin.

The President’s sons, notably Eric and Donald Jr, have also had a heavy hand in the crypto industry. The pair backed Bitcoin mining firm American Bitcoin and each has connections to Trump Media and World Liberty Financial, among other crypto ventures. 

A new disclosure shows that the President made over $57 million from World Liberty Financial, a note which further crescendos the criticism from bipartisan lawmakers about his crypto dealings.

Shares of Trump Media and Technology Group (DJT), are down nearly 2% on the day to $19.18.

Edited by Andrew Hayward

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