Bitcoin and gold shot higher this week, with both getting a boost from some frantic action surrounding the bond market, and the cryptocurrency also benefiting from activity in Washington. Both bitcoin and gold had fallen sharply from their highs set in January. They each got a jolt Wednesday when the Treasury Department announced plans to significantly increase bond purchases to push down interest rates. Bitcoin got more help from President Donald Trump, who urged Congress to move quickly on crypto legislation. A dollar sell-off also help gold and bitcoin as investors moved toward alternative assets.
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Nigel Farage has regained his seat in Parliament, beating a field of fringe candidates led by trash-can-wearing comic Count Binface in a special election boycotted by mainstream parties. They called it a farce. Farage is the leader of the anti-immigration Reform UK party, and some see him as a possible next prime minister. He abruptly quit his seat in July amid an investigation into whether he failed to report a $6.7 million gift from an overseas crypto billionaire. He denied wrongdoing and ran again for the seat to prove he had voters’ support. According to results announced Friday, he regained the seat with 63% of the vote in an unusual election.
The president's social media company is going back to its roots. The parent of Truth Social said Monday it is abandoning several new businesses — crypto, online betting, financial services — to refocus on building up its social media platform. Part of that effort is a new paid service for Wall Street traders who want sneak peeks at the president's market-moving posts. The service has drawn criticism from government watchdogs for basically setting itself up as a paid alternative to the White House press office. The parent company, Trump Media & Technology, detailed its new plans Monday after posting losses in the latest quarter jumped tenfold.
Reform UK leader Nigel Farage is running in a special election where his main opponent is a man dressed as a garbage can. Once an outsider, Farage is now the favorite, facing a quirky opponent, Count Binface. Farage triggered the election by quitting his seat in Parliament last month as he faced scrutiny over his finances. Parliament is investigating an undeclared donation of 5 million pounds from a cryptocurrency billionaire. Farage claims it was a personal gift. He also faces questions about his ties to George Cottrell, a crypto-gambling entrepreneur. Major parties aren’t participating, leaving Farage against independents and satirical candidates. He’s expected to win, but ongoing investigations could yet determine his political future.
It's not clear if the victim knew the suspects.
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