Category Archives: economy

‘History literally being demolished’: Ex-Melania staffer bemoans Trump’s new pet project

A former staffer for the First Lady criticized President Donald Trump on Thursday for demolishing the East Wing of the White House to make way for a grandiose ballroom.

Stephanie Grisham, who served as chief of staff to First Lady Melania Trump during the first Trump administration, told The New York Times that seeing the East Wing in rubble was like watching “history literally being demolished in front of our eyes.”

Grisham is the latest in a series of former White House staffers to denounce the project. “It was such a breath of fresh air from the West Wing,” she said. “I hate to see that kind of history literally being demolished in front of our eyes.”

Several critics have expressed concern over Trump’s decision to pursue the ballroom construction amid a government shutdown and an uncertain economy. Other former staffers speaking with The New York Times described the project as destroying the “living history” of the building.

“There was never a day I didn’t catch my breath walking into the East Wing,” Laura Schwartz, White House director of events during the Clinton administration, told the outlet. “That’s what makes the loss to me so painful. It’s not just a building. It’s the living history.”
https://www.rawstory.com/web-push-notification/melania-trump/

CZ Reveals Real Reason Tokenized Gold Has Not Taken Off

**Changpeng Zhao (CZ) Responds to Peter Schiff’s Tokenized Gold Plans**

Changpeng Zhao (CZ), founder and former CEO of Binance, has recently commented on Peter Schiff’s announcement regarding a tokenized gold product. Schiff, a well-known gold proponent, is making a notable pivot by embracing blockchain technology to tokenize gold, aiming to make it more accessible and transferable. However, CZ remains skeptical about the idea.

### CZ Critiques the Tokenized Gold Concept

For years, Peter Schiff has dismissed Bitcoin (BTC), even recently forecasting an imminent crash in its price. Now, with his plans to create a tokenized gold product, he appears to be adopting blockchain technology—albeit for gold rather than cryptocurrencies.

CZ’s response, however, was a pointed critique of what he sees as a mismatch between hype and reality. He clarified that his criticism was not aimed at gold itself, but at the tokenization model. According to CZ, tokenized gold often amounts to little more than a digital claim on physical gold held by a central custodian. In other words, individuals do not truly hold gold “on-chain.” Instead, it resembles a bank promise to return deposits.

The risk lies in trusting the issuer: if they go bankrupt, get hacked, or change ownership, the guarantees tied to these tokens could fail. While physical gold endures through time, CZ pointed out, such promises may not. He questioned whether a third party could reliably deliver on their commitments years down the line, especially amid wars and economic disruptions.

Describing the proposed product as a “trust me bro” token, CZ suggested this inherent trust risk explains why no tokenized gold project has truly taken off. This touches on a broader debate about blockchain’s promise. Schiff’s approach offers convenience with a gold twist, but CZ reminds the community that true innovation in blockchain lies in removing the need to outsource trust.

### Peter Schiff Faces Additional Criticism Following Gold’s Price Drop

Meanwhile, Peter Schiff has come under more fire within the cryptocurrency ecosystem after gold prices plunged to record lows on Wednesday, October 22, 2025.

A report by U.Today highlighted commentary from veteran crypto trader Peter Brandt, who took a playful jab at Schiff. Brandt shared a historical chart illustrating that gold investors have endured a difficult journey, often facing deep and long-lasting consolidations over the years. Despite this, gold has averaged a modest annual return of 3.6% over the past 45 years.

Interestingly, Schiff had predicted earlier this month that gold could soar to $6,000 by Christmas, outperforming both Bitcoin and the S&P 500. Contradicting this forecast, gold’s price dipped below $4,100 on Wednesday, fueling recent skepticism and criticism.

On the other hand, Bitcoin continues to experience volatility but is showing signs of recovery. Over the past 24 hours, BTC’s price marginally increased by 1.17%, reaching $109,629.

As Schiff ventures deeper into blockchain-based gold products, the debate on trust, innovation, and the future of tokenized assets is sure to intensify. Meanwhile, market movements keep testing the forecasts of both gold and cryptocurrencies alike.
https://u.today/cz-reveals-real-reason-tokenized-gold-has-not-taken-off

Robin Energy GAAP EPS of $0.01, revenue of $2M

Robin Energy Ltd. Reports Q3 Financial Results

Robin Energy Ltd. announced its Q3 financial results, reporting a GAAP earnings per share (EPS) of $0.01 and total revenue of $2 million.

Key Highlights:
– GAAP EPS: $0.01
– Revenue: $2 million

This update reflects the company’s performance for the third quarter ending in October 2025.

Stock Information:
– Stock Symbol: RBNE
– Recent Price Movement: [Data Not Provided]

For investors and market watchers, additional information such as market capitalization, price-to-earnings (PE) ratio, dividend yield, revenue growth (year-over-year), and short interest can provide further insights into Robin Energy’s market position and trends.

Stay tuned for more trending news and analysis about RBNE and related stocks.
https://seekingalpha.com/news/4507574-robin-energy-gaap-eps-of-0_01-revenue-of-2m?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

“Sell gold, buy Bitcoin,” Standard Chartered’s Head Says Rotation May Return

**Standard Chartered’s Head of Digital Assets Research Signals a New Trend: “Sell Gold, Buy Bitcoin”**

Last week saw a notable shift in the investment landscape. Gold prices plunged nearly 6%, while Bitcoin bounced back above $110,000, signaling a growing capital rotation into cryptocurrency. Kendrick, Standard Chartered’s head of digital assets research, warns that a new trend is emerging: “sell gold, buy Bitcoin.” He believes this shift could propel Bitcoin toward $135,000 by the end of the year.

### Kendrick: Sell Gold, Buy Bitcoin

Gold has long been regarded as the go-to safe haven during times of economic stress and inflation. However, according to Kendrick, the “gold-to-Bitcoin flow” has always served as a critical indicator for investors monitoring capital rotation between traditional and digital assets.

Kendrick told clients that last week’s market moves—including the sharp 6% drop in gold prices—coincided with Bitcoin’s bounce back, which he interprets as a clear sign of capital shifting from gold to crypto. Amid tighter monetary policies and evolving investor preferences, he suggests the “sell gold, buy Bitcoin” trend may gain momentum, positioning Bitcoin as the new digital safe haven.

### Opportunistic Buying Below $100K

While Kendrick predicts a near-term “inevitable” dip of Bitcoin below the psychologically important $100,000 mark, he views this as a temporary correction and a “final buying opportunity.” Despite recent market volatility caused by U.S.-China trade tensions, he remains optimistic.

Standard Chartered maintains bold Bitcoin price targets ranging from $135,000 to $200,000 by year-end. These projections are supported by factors such as anticipated easier monetary policies, strong ETF inflows, and capital shifting away from traditional safe assets like gold.

### Bitcoin Waiting to Explode Toward $120K

Crypto analyst Michael van de Poppe notes that Bitcoin is currently moving sideways, reflecting uncertainty as traders await crucial updates like the U.S. Consumer Price Index (CPI) report and the upcoming Federal Reserve (Fed) meeting. These events could affect interest rates and monetary policies, which are likely to determine Bitcoin’s next price direction.

Van de Poppe further highlights that even at $110,000, Bitcoin is not too expensive compared to its 2021 peak of $69,000 when interest rates were near zero. He identifies $112,000 as a key resistance level. Should Bitcoin break above this threshold, it could trigger a rally toward $120,000.

As the market evolves, investors are closely watching these signals that may redefine the dynamics between traditional safe havens and digital assets.

*Stay tuned for more updates on Bitcoin and market trends.*
https://coinpedia.org/news/sell-gold-buy-bitcoin-standard-chartereds-head-says-rotation-may-return/

‘Their own voters are pissed’: Lawmaker says GOP left with ‘no choice’ but to attack Trump

A throughline is reportedly developing in the reaction of Republican lawmakers to the controversies piling up around President Donald Trump.

The president and his legal team have reportedly asked the Department of Justice for $230 million to settle damage claims related to his past federal prosecutions. However, House Speaker Mike Johnson responded firmly, saying, “Never happen again, and for that, there needs to be accountability.”

Senator Thom Tillis (R-NC) conceded that he had “optics concerns” about Trump’s move. Meanwhile, Senator Cynthia Lummis (R-WY) stated, “I decide based on what I hear from my constituents.” Lummis was among many GOP lawmakers who claimed they “never heard about” Trump’s demand for $230 million from their constituents.

Senator Ted Budd (R-NC) indicated that he and other Republicans “look through the lenses of our state” — in his case, focusing on hurricane recovery in western North Carolina — before criticizing the president. “I want to make sure that those he’s appointed to his cabinet are actually doing that,” Budd added.

On the other hand, Democrats told MSNBC that their Republican colleagues are primarily afraid of going against Trump. Representative Jared Huffman (D-CA) explained, “Trump’s wrath if they cross him badly, and their own voters who are rightfully pissed off right now over the Argentina bailout. That’s why they’re mostly silent, and when they do speak out, it’s on something like Argentina where their base is leaving them no choice, and where Trump probably won’t end their careers over just this one thing.”
https://www.rawstory.com/donald-trump-corruption-2674225593/

Destiny 2 Update 9.1.5.2 full patch notes: Unstable Cores removed, ability buffs, and more

Destiny 2 Update 9.1.5.2 Patch Notes: Weekly Reset on October 21

The recent patch accompanying Destiny 2’s weekly reset on October 21 has removed an entire currency from the game. Unstable Cores, which were previously used to infuse gear to a higher Power level above 200, have now been replaced with a fixed cost consisting of Enhancement Cores and Glimmer. Players will also notice several adjustments to their abilities following the update.

This article provides a comprehensive list of all the patch notes included in Destiny 2’s Update 9.1.5.2, based on Bungie’s official website.

1) Gameplay and Investment

Power and Progression

Infusion Costs: Unstable Cores have been deprecated as the currency for Infusion. They have been replaced with a flat cost of one Enhancement Core and 5,000 Glimmer regardless of Power level. Additionally, Unstable Cores will no longer be granted when dismantling gear.

Exotic Armor

Stronghold: Fixed an issue where Stronghold wasn’t providing Ergo Sum with infinite Guard and maximum Guard Resistance.

Weapons

Weapon Perks: Fixed an issue where the enhanced Controlled Burst perk was not gaining improved duration over the base perk.

Abilities

  • Titan – Prismatic Shiver Strike Melee: Now refunds 80% when not hitting a target in PvE and 40% in PvP, as originally intended.
  • Hunter – Solar – On Your Mark Aspect: Removed cooldown on building On Your Mark stacks in PvE. Precision Hand Cannon hits now grant two stacks of On Your Mark. Precision hits and final blows at ten stacks will refresh On Your Mark.
  • Warlock – Void – Vortex Grenades: Fixed an issue where Vortex Grenades would push certain larger enemy types away instead of pulling them in.

2) Activities

  • Portal: Challenge modifiers removed from matchmaking.
  • Elemental Hungers – Volatile Shields, Match Game, Lightning Crystals, Cosmic Super Conductors, Ashes to Ashes, Slow and Small, Energy Drain, Haste, Antisurge: Various adjustments applied.
  • The Heliostat Pinnacle Operation: Now properly indicates that Barrier Champions will appear at higher difficulties.
  • Fixed an issue where breaking Vex crystals in The Heliostat mission would not grant Wolfsbane Intrinsics to all players in the fireteam.
  • Fixed an issue with some Dungeon Lairs offering multiple options for limited revive token skulls.
  • Fixed an issue where loot from the Contest of Elders Pinnacle Operation would go directly to the Postmaster instead of the inventory.
  • The Desert Perpetual: Updated Network Technician Triumph to accurately reflect the completed state of the Atlas & Almanac quest. In both base and epic versions of Agraios, prevented timing issues where alignment could cause multiple bosses to target the fireteam simultaneously during Variable Elimination.

3) General

  • A refund of 300 or 600 Bright Dust is now available on Special Deliveries for players who overpaid when purchasing one or two pieces of Bright Dust armor ornaments during Week 1 of the Ash & Iron event. Players who purchased three or more ornaments will receive an additional separate refund directly to their Bright Dust balance for the remaining amount owed.
  • Fixed an issue where the new competitive emblem for reaching Ascendant III was not visible in Collections.
  • Fixed a visual issue where the Featherfine shader appeared identical to the Iron Valus shader.
  • The Rewards Pass ship’s name has been updated for all supported languages.

Additional Resources


About the Author

Soumyadeep Banerjee is a journalist specializing in Esports & Gaming at Sportskeeda, with a focus on Destiny 2 and Gacha games. He holds a diploma in Computer Science and has a keen interest in game development. During his free time, he enjoys learning new languages and exploring MMORPGs, manga, and light novels.

Edited by Soumyadeep Banerjee

https://www.sportskeeda.com/mmo/destiny-2-update-9-1-5-2-full-patch-notes-unstable-cores-removed-ability-buffs

McCarthy: “I call it the ‘Seinfeld’ shutdown because it’s a shutdown about nothing.”

Former House Speaker Kevin McCarthy has criticized Democrats for declining to pass a continuing resolution to keep the government open without conditions.

“I call it the ‘Seinfeld’ shutdown because it’s a shutdown about nothing,” the California Republican told CBS News chief Washington correspondent Major Garrett. He was referencing the common joke that the seminal sitcom *Seinfeld* was a “show about nothing.”

McCarthy contrasted the current impasse with the situation in 2013, saying it is “the reverse [of] where Republicans were,” when some GOP lawmakers pushed for a spending bill that would roll back the Affordable Care Act, while Democrats advocated for a “clean” bill to fund the government. That standoff led to a 16-day government shutdown before Republicans ultimately conceded to Democrats.

This year, the roles appear reversed. Republicans are pushing for a clean bill to keep the government open at existing spending levels. Meanwhile, Democrats are demanding extensions to expiring health insurance subsidies and a rollback of Medicaid restrictions passed earlier this year.

Democrats argue that immediate negotiations over health insurance tax credits are crucial to prevent millions of people from facing higher premiums. Republican leaders say they are open to negotiating on health care — but only after the shutdown ends.

McCarthy accused Democratic leaders of “trying to find a message” and being “fearful” of their party’s rank-and-file members. He also noted a key difference from prior funding fights: the country is now more divided, with each side blaming the other, making it difficult to pinpoint who is responsible for the stalemate.
https://www.cbsnews.com/news/kevin-mccarthy-seinfeld-shutdown-trump-democrats/

Netflix shares slide on rare earnings miss — snapping six-quarter profit streak

Netflix Misses Earnings Target, Cites Brazilian Tax Dispute as Cause

Netflix missed the earnings target set by stock market analysts during its latest quarter, marking a break in the company’s six-quarter streak of posting profits that exceeded expectations. The Los Gatos, Calif.-based streaming giant attributed the earnings shortfall to an unexpected $619 million expense related to a tax dispute in Brazil.

Despite this setback, Netflix highlighted its strong lineup of distinctive TV series and films, which have kept its audience engaged. The company also noted a successful combination of subscriber fees and increased ad sales that helped deliver revenue in line with analyst forecasts.

Investors, however, were not entirely reassured by the explanation. Following the earnings announcement on Tuesday, Netflix’s shares fell approximately 6% in extended trading.

Diverging Analyst Opinions

Analyst reactions to Netflix’s third-quarter report were mixed. Thomas Monteiro, an analyst at Investing.com, expressed concern that Netflix might be using the Brazilian tax hit to mask underlying signs of slowing subscriber growth and advertising revenue amid economic uncertainty. “The truth is that the company failed to deliver the kind of growth we’ve grown used to over the past couple of years,” he said.

Conversely, Jeremy Mullin of Zacks took a more optimistic view, stating that Netflix’s “underlying story remains solid” and sees little cause for concern.

Financial Highlights

In the July-September quarter, Netflix earned $2.5 billion, or $5.87 per share, representing an 8% increase from the same period last year. Revenue rose 17% year-over-year to $11.5 billion.

Analysts surveyed by FactSet Research had expected Netflix to earn $6.96 per share on revenue of $11.5 billion. While the company matched revenue estimates, it fell short on earnings per share, primarily due to the Brazilian tax expense.

A Shift in Focus

Netflix has increasingly emphasized delivering solid financial growth over quarterly subscriber gains. As part of this strategic shift, the company stopped disclosing its subscriber numbers at the end of last year. This change has so far been effective, with Netflix’s stock price rising approximately 40% this year—though the dip in extended trading following the earnings release suggests some of those gains may be at risk.

Subscriber Growth and Market Position

Although Netflix no longer reports specific subscriber data, this year’s revenue growth suggests its worldwide subscriber base has increased from roughly 302 million at the end of last year, maintaining the company’s lead among video streamers. This is notable even as well-funded rivals such as Amazon and Apple continue expanding their programming selections.

In the company’s quarterly conference call, co-CEO Ted Sarandos revealed that Netflix’s total worldwide audience—including multiple viewers within the same subscriber household—is approaching 1 billion.

“We have a better understanding of the streaming business than any of our competitors,” asserted Greg Peters, Netflix’s other co-CEO, during the call.

Diversification Efforts

Netflix has sustained its market leadership by diversifying its offerings, adding live sports and video games alongside its extensive scripted programming. The company plans to expand this diversification further by introducing video podcasts in partnership with Spotify next year.

As the streaming landscape evolves, Netflix’s strategy focuses on broadening its content portfolio to maintain user engagement and drive continued growth.
https://nypost.com/2025/10/21/media/netflix-shares-slide-on-rare-earnings-miss-snapping-six-quarter-profit-streak/

Saving lives in Ukraine will require Trump to play the strong cards at his disposal

President Donald Trump’s mission to stop the killing in Ukraine has hit a wall. His strategy to let both Moscow and Kyiv “claim victory” and halt the fighting is missing the agreement of one man: Vladimir Putin, the last obstacle to peace.

Last week, Trump and Putin held yet another high-stakes phone call to end the war. Once more, they talked for two hours and appeared to make progress. A peace summit between all sides seemed possible—only for Russian Foreign Minister Sergey Lavrov to derail the process by repeating Putin’s maximalist demands.

Putin has not altered his original aim: “The whole of Ukraine is ours,” as he has asserted. The Kremlin is repeating a familiar pattern. Putin clearly does not want peace, even if he keeps talking about it with Trump endlessly.

As Putin filibusters, Russia’s military is ramping up efforts to replace its catastrophic losses, recruiting troops as if the war will never end. Here, Russia faces a major limitation in sustaining its invasion: it cannot conscript soldiers, but must buy them.

The fact is any traditional call-up of Russian soldiers for Ukraine would threaten the regime’s stability—a significant weakness for the Kremlin. Russian officials learned this lesson the hard way back in September 2022 when they attempted a “partial” call-up of young men. The move sparked widespread public opposition, causing the Kremlin to quickly back down.

This leaves the “golden handshake”—lucrative cash bonuses and incentive packages for volunteering—as Russia’s primary option for recruiting cannon fodder. But this cost is reaching new heights.

To meet recruitment targets, some of Russia’s regions have significantly increased pay for voluntary service in Ukraine. In Tyumen, Siberia, officials this month began offering a lump sum of $36,560—approximately three times the area’s average yearly salary—on top of Moscow’s $5,086 cash bonus for volunteering to fight in Ukraine.

Other regions have similarly made extravagant increases to their signing bonuses and are adding extra cash to recruits’ lavish monthly salaries. But few volunteers live long enough to collect their regular pay: one recent report estimated the average life expectancy of a Russian recruit to be just one month after signing a contract.

Worse still for the Kremlin, even as the payroll and golden handshake costs rise, Russia’s economic might is shrinking. This puts Putin in a tight financial corner—and Ukraine, the United States, and the Europeans hold all the cards.

To end the war, Trump must make Putin pay an exponentially higher price for it.

Ukraine has taken the first step, targeting Russia’s ability to refine oil. No military or society can function for very long without diesel and gasoline, and Ukraine’s planners have clearly identified this weak point in the Kremlin’s war economy.

In a series of spectacular drone attacks, they have struck Russian refining plants, doing significant damage to this key industry.

During his meeting with Trump on Friday, Zelensky stressed his country’s need to sustain this “oil war” with US-made weapons that can strike even deeper inside Russia.

So far, the White House has waffled on delivering this hardware—but Trump has told Putin that he was considering it. The US foot-dragging must end. Ukraine should have the ability to take out Russia’s major military-industrial targets.

Next, the United States and Europe must be more aggressive in eliminating Russia’s “shadow fleet” of oil tankers. This fleet consists of older, poorly insured vessels that operate outside of Western-imposed price caps on oil and regulatory oversight, effectively allowing Russia to sell its oil and fund its war while circumventing sanctions.

NATO’s navies can and must play a more aggressive role in seizing Russian tankers that violate international law and sanctions.

Finally, and perhaps most important, the United States must drop the hammer of secondary sanctions on countries that continue to buy Russian oil.

Trump has repeatedly called on Europeans to stop funding both sides of the Ukraine war, noting that while the European Union sends military aid to Ukraine with one hand, members like Hungary, Slovakia, and Austria have funneled billions to Russia through energy payments.

They need to halt this back-door support for the Kremlin—or pay a price for their stubbornness.

On October 6, Ukraine’s helpline for Russian servicemembers, “I Want To Live,” released what it claimed were internal Russian documents showing that 86,744 Russian soldiers were killed in Ukraine during the first eight months of 2025—an average of 10,842 per month.

In addition, 33,966 soldiers are missing, 158,529 were wounded, and 2,311 captured.

Saving lives in Ukraine will require Trump to play the strong cards at his disposal just as he did this month in the Middle East. But to make that move, he must first make it clear that he views Russia as the aggressor.

*Peter Doran is an adjunct senior fellow at the Foundation for Defense of Democracies, where Dmitriy Shapiro is a research analyst.*
https://nypost.com/2025/10/21/opinion/saving-lives-in-ukraine-will-require-trump-to-play-the-strong-cards-at-his-disposal/

Molson Coors to cut 9 percent of workforce in the Americas amid slowing sales

Molson Coors has announced plans to undergo a significant restructuring process. As part of this initiative, the company will eliminate 400 salaried positions.

This decision reflects Molson Coors’ efforts to streamline operations and enhance overall efficiency. Further details about the restructuring and its impact on the organization are expected to be shared in the coming weeks.
https://thehill.com/business/5565068-molson-coors-beer-job-cuts/