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Trump fortune balloons by billions after family firm’s crypto token starts trading

1 day ago
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The Trump family’s cryptocurrency venture, World Liberty Financial, put its namesake digital tokens up for sale on Monday, adding some $5bn in paper value to Donald Trump’s family fortune.The token, known as $WLFI, fell in value on Monday in their first day of trading.The World Liberty tokens were sold to investors after the Trump family and its business partners last year launched the venture, a decentralized finance platform that has also issued a stablecoin, a cryptocurrency meant to maintain a specific price by tying its value to a specific asset.Investors in the tokens voted in July to make them tradable, paving the way for their sale and purchase – and potentially boosting the value of the president’s holdings of them.Early investors can sell up to 20% of their holdings, World Liberty has said.

The tokens initially traded above $0,30 in their Monday debut but later fell in price to $0,20,Per data from CoinMarketCap, roughly $1bn worth of the tokens changed hands within the first hour of the opening of trading,That gave the token a total market capitalisation of just below $7bn, making WLFI the 31st largest crypto token in circulation, according to data from trading analysis firm CoinGecko.

Several of the world’s biggest cryptocurrency exchanges, including Binance, OKX and Bybit, are offering $WLFI tokens on their platforms.Since World Liberty’s launch last year, the Trump family has made around $500m from the project, according to Reuters calculations based on the company’s terms and conditions, transactions traced by crypto analysis firms, and publicly disclosed deals.Ownership of roughly a quarter of World Liberty’s tokens has added roughly $5bn to the Trump family fortune, according to the Wall Street Journal.Trump himself, referred to as a “co-founder emeritus” on the company’s website, owns an unspecified amount of $WLFI, but he is barred from selling them, as are other members of the team, including his sons, according to World Liberty.Trump has used the Oval Office to expand crypto-friendly regulations in the US.

The tokens were not made tradable at their initial sale.Instead, they gave holders the right to vote on some changes to the business, such as its underlying code.Early investors have said the primary draw of $WLFI was the connection to Trump and their expectations that the tokens would grow in value due to his backing.Making the tokens tradable allows investors to determine their price, enabling speculation, earning trading fees for exchanges that list them, and likely stoking interest from a wider swath of crypto investors than when they were merely privately available.Sign up to TechScapeA weekly dive in to how technology is shaping our livesafter newsletter promotionWorld Liberty and Trump’s other crypto businesses have faced criticism from Democratic lawmakers and government ethics experts who say the Trump family’s forays into the cryptocurrency businesses, at the same time as the president reshapes the regulatory framework that governs digital currencies, represent profound conflicts of interest.

The White House has said repeatedly that Trump’s assets are in a trust managed by his children and that there are no conflicts of interest.The best public interest journalism relies on first-hand accounts from people in the know.If you have something to share on this subject you can contact us confidentially using the following methods.Secure Messaging in the Guardian appThe Guardian app has a tool to send tips about stories.Messages are end to end encrypted and concealed within the routine activity that every Guardian mobile app performs.

This prevents an observer from knowing that you are communicating with us at all, let alone what is being said,If you don't already have the Guardian app, download it (iOS/Android) and go to the menu,Select ‘Secure Messaging’,SecureDrop, instant messengers, email, telephone and postIf you can safely use the tor network without being observed or monitored you can send messages and documents to the Guardian via our SecureDrop platform,Finally, our guide at theguardian.

com/tips lists several ways to contact us securely, and discusses the pros and cons of each,
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Cheap, healthy, sustainable and delicious – why mussels are a no-brainer

Fans say they’re the perfect food. No wonder they’re having a moment on restaurant menus. But how hard is this shellfish to prepare at home?It might be that they’re cheap. It might be that they’re healthy. But, in all likelihood, it’s “because they are just delicious”, says seafood chef Mitch Tonks

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How to turn leftover cooked orzo into a delicious late-summer salad – recipe

A hugely satisfying way to use up odds and ends in your cupboard and crisper drawerI rarely, if ever, buy orzo, the rice-shaped pasta, but I was intrigued by barbecue chef Melissa Thompson’s poll on her Instagram stories asking: “Do you have a half-finished bag of orzo sitting in your cupboard?” She had more than 600 responses, almost 90% of which said yes. Thompson turned hers into a salad with pepper, spring onion, tomatoes and cucumber. Inspired, I rushed out to buy a bag (yes, I see the irony, too) and made a salad using leftovers. And, of course, ended up with half a bag of orzo in my cupboard.I’ve called this an anti-recipe because I think recipes are often guilty of creating food waste by being too prescriptive

1 day ago
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Tesco tries out in-store avocado scanners to assess ripeness

It is the millennial’s perennial problem: returning home after spending a small fortune on an avocado only to find the green fruit is either too squishy to slice for a salad or too hard to smash on toast.One UK retailer, however, is claiming to have found the tech to solve the textural trouble. Tesco has begun trialling in-store avocado scanners that allow shoppers to asses how ripe the fruit is before they put it in their basket.The UK’s biggest supermarket said the machines, which will be in five stores from this week, uses infrared technology to find out what the fruit looks like inside. The scanners will return one of two ripeness readings when shoppers present it with an avocado: immediately ready for smashing, or better for slicing

1 day ago
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Ice cubes in beer: is this popular pub order atrocious – or ingenious?

A new survey has found that more than a quarter of adults under 35 commit the sin of dilution to keep their pint cool. Is this alarming new trend here to stay?Name: Icy beer.Age: Niche for a while, now horribly mainstream.Appearance: There’s no way to sugarcoat this, it’s beer with ice cubes in it.I see we’re talking about people with no taste today

2 days ago
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Cress to impress: the peppery, unsung hero ingredient | Kitchen aide

Growing cress with my daughter is a fun activity, but she’s intolerant to eggs so can’t have the classic sandwich I grew up with. What else can we make with cress? Sophie, via emailThis is also a pressing matter for Rosie Birkett, author of the A Lot on her Plate Substack, because her daughter recently returned home from nursery with a yoghurt tub containing cress: “It might be tiny, but cress is mighty – peppery punchy, and full of character, almost like a mini rocket leaf.” And if eggs are off the menu, Birkett’s first port of call would be to harness the young seedlings’ ability to accessorise: “Do your usual mashed avocado with a little lemon and olive oil, spread that over bread or toast, then top with a scattering of cress. It will add brilliant bite, freshness and pepperiness.”The same goes for bruschetta, or toasts with hummus, olive oil and gentle spices such as cumin, says Anna Jones, author of Easy Wins

2 days ago
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José Pizarro’s recipe for chilled cherry and tempranillo soup

Cherries are a big deal in Extremadura, where I’m from, especially in the Valle del Jerte to the north, where the picotas are some of the best in all of Spain: sweet, dark, no stalk and full of flavour. At home, we usually just eat them by the handful, fresh and cold, so when I started cooking with them, my family looked at me as if I’d gone mad. But they always end up saying yes after the first spoonful. This chilled cherry and tempranillo soup is one of those dishes: a bit unexpected, but it always gets a smile.Fresh cherries are one of the joys of late summer, but this soup can also be made using frozen cherries at any time of year

2 days ago
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Lloyds to warn 3,000 staff they face sack for ‘underperformance’

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UK construction in longest downturn since early 2020; global bond sell-off eases – business live

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Google Pixel 10 review: the new benchmark for a standard flagship phone

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