Business

Schumer sees Americans rising up if Trump defies court orders

Published

2 days ago

March 23, 2025

Senate Minority Leader Chuck Schumer predicted Americans will “rise up” if President Donald Trump defies courts that challenge his policies, saying he doesn’t trust Trump’s pledges to abide by judicial rulings.

Schumer was responding to a question on NBC’s Meet the Press about a previous comment that any such effort by Trump would require “extraordinary action” by Democrats.

If “the public is so, so angry and takes action — and certainly we Democrats will — it will trigger a mass movement from one end of the country to the other, something that we haven’t seen in a very long time,” Schumer said.

Trump’s push to test the limits of executive power has played out in a clash with a US district judge over the deportation flights of alleged Venezuelan gang members who ended up in a prison in El Salvador.

The judge, James Boasberg, admonished the administration for disregarding his order on March 15 to halt the deportation flights. Trump has dubbed Boasberg a “radical left” judge and called for his impeachment, prompting a rebuke by Supreme Court Chief Justice John Roberts.

Schumer struck a defiant tone toward his own party when asked about his decision to end a blockade by Senate Democrats against a Republican spending plan to avert a government shutdown.

“Look, I’m not stepping down,” said Schumer, whose stance prompted a backlash among some Democrats. Those questioning his decision include former House Speaker Nancy Pelosi.

A shutdown “would be 15 or 20 times worse” by handing the Trump administration an opportunity to “eviscerate” the government, he said.

Schumer argued that Democrats shouldn’t allow themselves to be split over disagreements about how to deal with the short-term spending bill, known as a continuing resolution.

“Our goal, our plan, which we’re united on, is to make Donald Trump the quickest lame duck in modern history by showing how bad his policies are,” Schumer said.

This story was originally featured on Fortune.com

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Business

Dalio warns GOP of ‘dire’ debt as lawmakers weigh tax cuts

Published

6 minutes ago

March 25, 2025

Jace Porter

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Business

Incoming SEC chair Paul Atkins owns up to $6 million in crypto-related assets—though no Bitcoin

Published

37 minutes ago

March 25, 2025

Jace Porter

Paul Atkins, President Donald Trump’s Solana and Cardano, that it alleged were unregistered securities. The SEC also targeted celebrities like Kim Kardashian and Lindsay Lohan for promoting tokens, among other individuals. The crypto industry fought back and argued that decades-old securities law did not apply to new technology. Executives like Brian Armstrong, the CEO of Coinbase, argued that the government should draft legislation to account for blockchains, rather than crack down on the crypto sector.

Atkins was previously SEC chair from 2002 to 2008 under President George W. Bush. Most recently, he served as CEO of his financial services consultancy Patomak Global Partners. He’s been supportive of the crypto industry’s calls for regulation. “The collapse of FTX was this international debacle because I think the U.S. didn’t make our rules accommodating to this new technology,” he said in a 2023 interview.

As part of his ethics agreement, Atkins also agreed to step down from a position on Chamber of Digital Commerce’s Token Alliance, a policy group that advocates for crypto companies.

This story was originally featured on Fortune.com

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Business

Napster’s CEO says the millennial favorite is entering a new era with $207 million sale

Published

1 hour ago

March 25, 2025

Jace Porter

A brand that was notoriously connected to music piracy before reemerging as a subscription music service has been sold to Infinite Reality for $207 million.

The tech startup announced Tuesday it had bought Napster in hopes of transforming the streaming service into a social music platform where artists can connect with fans and better monetize off their work.

“The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era. Yet, music streaming has remained largely the same. It’s time to reimagine what’s possible,” said Napster CEO Jon Vlassopulos in a blog post.

Among its plans to update Napster, Infinite Reality said it will create virtual 3D spaces that will allow fans to attend concerts, and give musicians or labels the ability to sell digital and physical merchandise. Artists will also receive a wider range of metrics and analytics to better understand the behavior of platform users.

“We can think of no better use case for our technology than putting it in the hands of music artists who are constantly pushing the boundaries of what’s possible,” said Infinite Reality Chief Business Officer Amish Shah.

Napster was launched in 1999 by Shawn Fanning and Sean Parker and quickly became the first significant peer-to-peer file-sharing application. It shuttered in early 2000s after the record industry and popular rock band Metallica sued over copyright violations. Rhapsody later bought the brand in 2011 and relaunched it as a music streaming service.

This story was originally featured on Fortune.com

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