February 2025 - cypherpunks - lists.cpunks.org

In other news
by Gunnar Larson 18 Feb '25

18 Feb '25

In other news Nigerian lawmakers approved *$200 million in health funding to offset suspended U.S. aid*, which had supported crucial programs such as malaria prevention and HIV treatment. [DW <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknCMbvspWfcxmI24pAP_GzmjgcD5cgzz…> ] The latest U.N. report showed that *the Asia-Pacific region is falling behind on most Sustainable Development Goals*. [UN News <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmwxlKgK8ddEHL6vKcu4gbIUw3L5I3AK…> ] *Alessandra Morelli*, a medic who aided Libya’s flood victims in 2023, will be among 14 medical responders* receiving King Charles III’s new Humanitarian Medal*. [BBC <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkm5aPN3o93ucZLoIswxOODp4A3m4wcLg…> ]

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UNwelcome
by Gunnar Larson 18 Feb '25

18 Feb '25

UNwelcome It’s not just countries that will be hurt by the aid freeze — the United Nations <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknMr2hqSl2eZDGLVkwQdy39aLUn6OAGg…> could be left out in the cold as well. A U.N. survey, seen by Devex, found that Trump’s stop-work order had already started to affect major U.N. agencies including the World Food Programme <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknJjWfk8wvehBl0cRETl8NY9-Kq7VuY0…> , UNICEF <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmwfIeC8DiWldZlMMZTLe74Xcy3RsBoi…>, and WHO. The survey identified *a wide range of potential impacts*, from staffing <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POiKRGbNY2OKC42jxnUn9zvotXnqnOyP0…> to interruptions to critical programs <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POiKRGbNY2OKC42jxnUn9zvqFAuBSCQOT…>. As of now, agencies are scrambling to mitigate the fallout — suspending projects, looking for other sources of funds for staff members, and tracking the financial implications. My colleagues Colum Lynch and David Ainsworth break down the data to show which agencies are most affected <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POmdrd4JNKKKuzJIBxP6dplR6gkyv225j…> — and what they expect the consequences to be. *Read:* The US aid freeze in data — how will UN agencies be affected? <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POmdrd4JNKKKuzJIBxP6dplR6gkyv225j…>

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Pain points: The hardest-hit region would be Africa, which received $15.2 billion last year
by Gunnar Larson 18 Feb '25

18 Feb '25

*Pain points* In 2023, the United States spent $57.3 billion bilaterally on projects in low- and middle-income countries. So who’s going to bear the brunt of the U.S. foreign aid freeze? <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POp-u1cosIVwvdPz0UHv7SbuYLhSnY-kV…> If this funding were to cease, my colleague Alecsondra Kieren Si reports that *the hardest-hit region would be Africa*, which received $15.2 billion last year. Within Africa, the* top recipients were Ethiopia*, with $1.6 billion, followed by the Democratic Republic of Congo, with $1.2 billion. Others would feel the pinch too. Check out our report for the rest. *Read:* Which countries would be worst hit by the US aid freeze? <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POp-u1cosIVwvdPz0UHv7SbuYLhSnY-kV…>

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Don’t bank on it: Is the World Bank next on U.S. President Donald Trump’s hit list?
by Gunnar Larson 18 Feb '25

18 Feb '25

FEB. 18, 2025 BY ANNA GAWEL <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmwmJYTmQjea6Zpj4oNyn-u5aHAn3_yr…> First the Paris Climate Agreement. Then the World Health Organization <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmw7n9aJLsXvasyM0Jah-P_vaY1CdoNB…>. Is the World Bank <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknKQJWpTJ-fTy9LnnYpYUQthFKSnXeIm…> next on U.S. President Donald Trump’s hit list? Experts say it’s unlikely he’d withdraw the U.S. from the bank, but then again, Trump revels in the unlikely. *Also in today’s edition:* We travel to the dark tunnel where one of the world’s deadliest viruses lurks. * Join us tomorrow, Feb. 19, at 10 a.m. ET for a post-Munich Security Conference briefing with Michael Werz, the North American representative for MSC, about the key takeaways and how shifting geopolitical tides are expected to affect development. Save your spot now <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknDVkj155IHVDSDT8c7Ak0rXpY-VJwVr…>.* Don’t bank on it Trump does not do half-measures. He prefers bold action. Just ask USAID <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmxNUhmtjmfcIH9eQmcQ8Vw1P1_ues44…> employees who have watched their agency disintegrate <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POq0gsUB-6H_8OChJKIRDNRIxXG8ZASG-…> in the blink of an eye. <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POgeWpEfG2n0n7gG-jSSvJvqYAGV7x8av…> *But would he be bold enough to dilute the U.S. share in the World Bank* or ditch the bank altogether, considering how much power it wields — power he’d essentially be ceding to rivals such as China if he were to exit? *Many experts say it would be counterproductive to Trump’s “America First”* stick-over-carrot approach, but it’s still within the realm of possibility. Project 2025, the conservative manifesto published by the Heritage Foundation <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkm-xRzBik_bB9R3uQBICiO33nfbh3Wq7…>, encourages the U.S. Treasury <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wkmzwvFl4qW11e0-XGyjtnAsUCituZAdC…> to “force reforms and new policies” in the World Bank and International Monetary Fund <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknBQbM0vzYef3E-OYta0UwAT8fBtZfh5…>. It also *recommends that the U.S. withdraw and “terminate its financial contribution.”* While Trump distanced himself <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POjbW6rOsZ37Uc-AtgCDeIvfogVPrcOeC…> from the blueprint on the campaign trail, he’s increasingly embraced it since then. Logistically speaking, it would not be hard to pull out of the World Bank <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POgeWpEfG2n0n7gG-jSSvJvqYAGV7x8av…>, my colleague Jesse Chase-Lubitz explains. Trump would pretty much just have to submit a notice to the bank. *The big question mark is whether Congress has a say*. Experts say such a withdrawal would be unprecedented, thus the legalities are largely up in the air. “The term unprecedented is a good one,” says Clemence Landers of the Center for Global Development <https://t.devex.com/Njg1LUtCTC03NjUAAAGYt-wknEMO9fKVH-5NvragKPCd-zDOkYi2ROL…>. “It’s so unclear the extent to which Congress needs to be involved in this or not. That’s the game-changing thing.” *Read:* Could the US pull out of the World Bank? Unlikely — but not impossible <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POgeWpEfG2n0n7gG-jSSvJvqYAGV7x8av…>

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Fwd: JP Morgan’s Greek tragedy, OpenAI, SoftBank commit $19B to Stargate data center, and Wall Street moves in on crypto: highlights of finance news
by Gunnar Larson 18 Feb '25

18 Feb '25

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What Financial Intermediaries Can Expect From New Admin
by Gunnar Larson 18 Feb '25

18 Feb '25

What Financial Intermediaries Can Expect From New Admin <https://www.law360.com/technology/articles/2296178?nl_pk=b6acf8b6-b37c-4b07…> Understanding the current regulatory landscape of consumer financial services — and anticipating how it might evolve under Trump 2.0 — is essential for brokers, lead generators and digital platforms, and they should consider strategies for managing regulatory uncertainty, say attorneys at Sheppard Mullin. Read full article » <https://www.law360.com/technology/articles/2296178?nl_pk=b6acf8b6-b37c-4b07…> | Save to favorites » <https://www.law360.com/technology/articles/2296178?nl_pk=b6acf8b6-b37c-4b07…>

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Trump Aims To End Limits On President's Power To Fire
by Gunnar Larson 18 Feb '25

18 Feb '25

Trump Aims To End Limits On President's Power To Fire <https://www.law360.com/compliance/articles/2298077?nl_pk=7f7472c8-af4a-4299…> By Katie Buehler President Donald Trump has his sights set on taking down a 90-year-old U.S. Supreme Court ruling that protects certain government officials from being fired, a U.S. Department of Justice letter confirms, and he plans to leverage his prior legal victories to deliver the precedent's death knell and expand presidential power. Read full article » <https://www.law360.com/compliance/articles/2298077?nl_pk=7f7472c8-af4a-4299…> | Save to favorites » <https://www.law360.com/compliance/articles/2298077?nl_pk=7f7472c8-af4a-4299…>

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Fintech Group Of The Year: Sullivan & Cromwell
by Gunnar Larson 18 Feb '25

18 Feb '25

Fintech Group Of The Year: Sullivan & Cromwell <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…> By Emilie Ruscoe Sullivan & Cromwell LLP's fintech practitioners have been integral to its work on behalf of collapsed cryptocurrency exchange FTX, advised American Express on two significant technology company acquisitions and represented crypto industry associations in a legal battle that reversed certain U.S. Securities and Exchange Commission rulemaking, earning them a place among the 2024 Law360 Fintech Groups of the Year. Read full article » <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…> | Save to favorites » <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…>

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Fla. Crypto Operator Gets 2 Years In Prison For Wire Fraud
by Gunnar Larson 18 Feb '25

18 Feb '25

Fla. Crypto Operator Gets 2 Years In Prison For Wire Fraud <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…> By David Minsky A Florida federal judge sentenced a U.S. Air Force veteran and software developer to more than two years in prison on a wire fraud charge for soliciting more than $1 million from investors to pay for a cryptocurrency offering but using the funds to fuel a gambling addiction. Read full article » <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…>

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SEC Says Crypto Task Force Could Resolve Coinbase Case
by Gunnar Larson 18 Feb '25

18 Feb '25

SEC Says Crypto Task Force Could Resolve Coinbase Case <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…> By Aislinn Keely The U.S. Securities and Exchange Commission told the Second Circuit that its newly formed cryptocurrency task force effort may lead to a resolution in its enforcement case against Coinbase, warranting a brief delay to the regulator responding to the crypto exchange's bid for appellate review of whether securities laws apply to the transactions on its platform. Motion attached | Read full article » <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…>

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