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President Donald Trump has pardoned Changpeng Zhao, the billionaire founder of the crypto exchange Binance, in a move that reflects the administration’s business-friendly approach to digital currencies.”President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House spokesperson Karoline Leavitt said in a statement on Thursday.”In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims,” Leavitt said in the statement, which declared the Biden administration’s “war on crypto” to be over.Zhao, known…

The FBI has arrested Miami Heat player Terry Rozier after a long-running gambling investigation. Carmen Mandato/Getty Images hide caption toggle caption Carmen Mandato/Getty Images Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier were arrested Thursday in connection with an FBI investigation into illegal gambling activities involving sports betting and poker, according to federal authorities. Around 30 people are currently in custody in connection with the schemes, with more expected to surrender themselves later, Justice Department spokesperson John Marzulli said Thursday. Both Billups and Rozier are expected to appear in federal court today, Billups in Portland…

People detained by federal agents walk into a suburban Chicago ICE Detention Center in Broadview, IL on Sept. 19. Dominic Gwinn/Middle East Images via AFP/Getty Images hide caption toggle caption Dominic Gwinn/Middle East Images via AFP/Getty Images Immigration and Customs Enforcement has recorded its deadliest year since the early 2000s as agency officials push to increase the number of people in its custody. According to a review of deaths by NPR, at least 20 people have died in ICE custody so far this year. The number comes as ICE is also holding nearly 60,000 people in immigration detention, the highest…

An ‘Open House’ sign is posted near a single family home for sale on Aug. 22, 2025 in Pasadena, California. Mario Tama | Getty ImagesSales of previously owned homes rose 1.5% in September from August to a seasonally adjusted, annualized rate of 4.06 million units, according to the National Association of Realtors. That is slightly less than the analysts were forecasting, but the highest pace in seven months.Sales were 4.1% higher compared with September of last year.Regionally, on an annual basis, sales were strongest in the South and Northeast. From August, sales were strongest in the West and actually fell…

A Rivian R1S electric vehicle (EV) at a dealership and service center in San Francisco, California, US, on Tuesday, June 3, 2025. David Paul Morris | Bloomberg | Getty ImagesDETROIT – Rivian Automotive is laying off roughly 4.5% of its workforce as the all-electric vehicle maker faces growing market challenges, according to a note sent to employees Thursday and viewed by CNBC.In the message, Rivian founder and CEO RJ Scaringe said the cuts largely involved restructurings of its marketing, vehicle operations and sales/delivery and mobile operations teams.”These are not changes that were made lightly. With the changing operating backdrop, we…

I’m closing my eyes and letting AI take the wheel. That’s the proposed future for GM, where executives are touting a new “eyes-off” self-driving feature launching in 2028. Nothing like a little cat nap when you’re hitting 80 mph on the highway.In today’s big story, a portion of Corporate America is proud to tell you how it’s avoiding AI. But executives’ deep buy-in of the tech might make its arrival inevitable.What’s on deck:Markets: Steve Cohen’s Point72 shook up its top quant unit. Here’s how it all went down.Tech: The great flattening just came for Google’s ad division.Business: If you haven’t…

Jasondoiy | E+ | Getty ImagesAmid recession fears, a government shutdown and tariff uncertainty, consumers are increasingly diverging in their spending.Wealthier Americans are engaging their purchasing power, while lower-income Americans are starting to pull back — commonly described as a “K-shaped” economy. Friday’s consumer price index report could shed more light on the pressures facing large swaths of the country.The CPI report, which measures price changes across a range of goods and services, was delayed due to the government shutdown, originally scheduled to be released nine days prior. Though the report will not include any data related to the shutdown,…

I grew up in New York City, where I went to the theatre and opera every month, and knew the best dim sum in Chinatown. I truly took advantage of everything the city had to offer and lived a life that most people would dream of.But by the time I was 24, I knew I needed a change. The hustle and bustle of the city was exciting, but I craved a slower pace of life.Being of Italian heritage, I always dreamed about moving to Italy. So, in 2014, I packed up and moved to Guardia Sanframondi, a small town in…

This as-told-to essay is based on a conversation with Raymond Zhao, 23, the cofounder and CEO of Structured AI, which is in Y Combinator’s Fall 2025 Batch. His internship, funding, and acceptance to YC have been verified by Business Insider. Golman Sachs declined to comment when contacted by Business Insider. This piece has been edited for length and clarity. Working at Goldman Sachs was my dream, but I quickly realized it wasn’t for me when I interned there as an analyst in the summer of 2024.AI, on the other hand, feels exciting. Many of the great AI companies of the…

Before attending WatchTime New York, I assumed that the crème de la crème of watches always comes from brands like Rolex and Patek Philippe. Now, though, I know that watch collectors are more often drawn to the brands that speak to them.Most booths seemed equally busy, with small crowds forming almost nonstop. At times, I had difficulty edging my way in to see watches up close.The standout company seemed to be MB&F, or Maximilian Büsser & Friends. Though I’d never heard of the luxury Swiss brand before the event, it quickly moved to the top of my radar.Reugger described the…