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Eight Democratic senators, led by Adam Schiff of California, have formally asked Steve Witkoff—the U. S. Special Envoy to the Middle East—for detailed explanations regarding his continued involvement with crypto assets tied to World Liberty Financial, a venture he co-founded with the family of Donald Trump. The lawmakers’ letter highlights potential conflicts of interest stemming from Witkoff’s dual role as a diplomat and investor.

Their concerns centre on Witkoff’s asset disclosures, which indicate he still holds stakes in entities tied to World Liberty and other crypto businesses as of his 13 August 2025 financial report. The senators press him to clarify whether he has divested these holdings, whether he has obtained ethics waivers, and whether his official capacities have overlapped with personal financial interests.

World Liberty Financial launched the stable-coin USD1, and in May 2025 a firm linked to the Abu Dhabi sovereign investment arm reportedly committed around US$2 billion to the venture. The same Gulf-state entity is connected to high-level U. S. export approvals of advanced semiconductor chips, a situation that lawmakers see as raising grave ethical questions.

Witkoff, a New York real-estate magnate and longtime Trump associate, was appointed envoy in early 2025 despite limited experience in diplomacy. While his defenders say he has taken steps to divest and comply with regulation, critics say he remains financially tied to ventures that stand to benefit from his government role. The administration has signalled it is reviewing his disclosures and ethics compliance.

In their letter, the senators request responses to seven key questions by 31 October 2025. They ask how Witkoff could sell off a real-estate holding of about US$120 million while retaining crypto interests; whether he or his family hold additional digital assets beyond those disclosed; when he divested, if at all; whether he holds any interests in Trump-family business ventures; whether he has obtained ethics guidance from the U. S. Office of Government Ethics; and whether any waiver was granted allowing him to participate in matters in which he had a financial interest.

Separately, lawmakers highlight the chronology of events: after World Liberty received the Gulf-state investment commitment, the White House approved export of advanced U. S. chips to the United Arab Emirates—raising the appearance of intertwined public and private interests. Ethics experts say this conflation of diplomacy and private profit may run afoul of federal rules under 18 U. S. C. § 208 and the constitutional emoluments clause, which bars public officials from participating in matters in which they have a financial interest.

By Nitya Chakraborty   The twist and turns in Prime Minister Narendra Modi’s dealing with the overtures to him from the US President Donald Trump in the last three weeks speak eloquently of the tussle that is going on at the highest level of the BJP leadership and the RSS over how to send the […]

The article Sangh’s Nationalist Line Restrains Modi From Early Deal With Trump appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nitya Chakraborty Prime Minister Narendra Modi’s diplomatic woes are mounting as Russian President Vladimir Putin’s proposed visit to India on December 5 and 6 is approaching. US President Donald Trump is determined to ensure substantial reduction in Indian imports of Russian oil by November and this has been linked with the progress of the […]

The article Narendra Modi’s Mounting Dilemma Over President Putin’s Visit To India In December appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Girish Linganna The prisoner-hostage exchange between Israel and Hamas has been completed successfully, and many are calling it a major victory for peace. Twenty Israeli hostages returned home in exchange for about 2,000 Palestinian prisoners, aid started flowing back into Gaza, and guns fell silent after months of devastating conflict. But anyone familiar with […]

The article A House Built On Sand: The Fault Lines In Trump’s 20 Point Gaza Peace Plan appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By K Raveendran Oil prices fell to their lowest level in five months on Tuesday, continuing a slide that has gathered pace over the past several weeks. The benchmark Brent and West Texas Intermediate crude futures have both dipped significantly, erasing much of the year’s earlier gains. In stark contrast, gold has soared to an […]

The article Gold Feeds On Oil’s Misfortune; One Hits The Roof, The Other Down In The Dumps appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nitya Chakraborty On October 10, the Nobel Prize Committee awarded the Peace prize for the year 2025 to the Venezuelan right wing politician Maria Corina Machado who has been working for the last few years for the removal of the President Nicholas Maduro from his office. The White House initially reacted that the Nobel […]

The article Trump Has Not Got Nobel Peace Prize But The Winner Machado Is His Acolyte In Latin America appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Hamas has handed over seven Israeli hostages to the International Committee of the Red Cross, fulfilling the first phase of a broad ceasefire and prisoner­exchange accord with Israel. The hostages are now in Israeli custody, and more releases are expected in the coming hours.

The released individuals—identified as Matan Angrest, Guy Gilboa Dalal, Alon Ohel, Gali Berman, Ziv Berman, Eitan Mor and Omri Miran—were transferred through Gaza to a reception point near the border, where they reunited with family members and began medical assessments. Under the terms of the deal, they will be swiftly transported to Israeli hospitals for further care.

Alongside the handover, Hamas published the names of all 20 Israeli captives slated for release in the deal’s first stage. Among the names are Bar Abraham Kupershtein, Evyatar David, Yosef-Chaim Ohana, Segev Kalfon and Avinatan Or—adding to the list previously released to the media. Israel has warned Hamas that any mistreatment or propaganda stunts during the transfer would provoke retaliation.

The agreement accompanying the hostages’ release calls for Israel to free more than 1,900 Palestinian prisoners. That includes women, children and individuals serving long sentences. As per the deal, Israel must also return the bodies of 28 deceased captives. Hamas has acknowledged some uncertainty about certain remains, citing burial under debris and loss of access to previous guard posts.

The exchange is part of a U. S.-brokered “21-point” plan, mediated by Egypt, Qatar and other parties. Provisions include a phased withdrawal of Israeli forces from key areas in Gaza, the reopening of humanitarian corridors, and reconstruction efforts under an international framework. As part of the agreement, President Donald Trump and regional leaders are convening in Egypt to formalise implementation.

Hamas’ Gaza chief, Khalil Al-Hayya, said the group has secured guarantees from U. S. mediators and Arab sponsors that the conflict is “ended,” highlighting that the release of 20 living hostages would occur within 72 hours of the agreement taking effect. Hamas insists it will “faithfully uphold” its terms, while reserving the right to resume fighting if Israel fails to meet its commitments.

Israeli officials emphasised that the ceasefire and release process are conditional and subject to strict oversight. The Israeli cabinet has approved the deal, though several ministers from the far-right bloc opposed it. Prime Minister Benjamin Netanyahu’s office warned that any violation by Hamas would void the agreement and trigger military responses.

Public reaction in Israel has been emotional. Tens of thousands gathered in Tel Aviv’s Hostages Square to watch televised feeds of the transfers. Families expressed cautious optimism over the hostages’ return. In Gaza, displaced residents and aid agencies are gearing up to facilitate relief efforts under the newfound calm.

Intercontinental Exchange, which owns the New York Stock Exchange, is committing up to $2 billion in Polymarket, valuing the event-prediction platform at about $8 billion before the investment. ICE will serve as a global distributor of Polymarket’s event-driven data and will collaborate on tokenisation and related infrastructure.

Polymarket is gearing up for its return to U. S. markets following a multi-year regulatory hiatus. The firm acquired QCEX, a derivatives exchange and clearinghouse with CFTC licensure, for $112 million, enabling it to operate under U. S. regulation. The Commodity Futures Trading Commission has granted a no-action letter for event contracts, clearing a path for U. S. users to trade again.

Born in 2020 under the leadership of CEO Shayne Coplan, Polymarket permits users to wager on outcomes by purchasing “Yes” or “No” tokens. The market price implies a probability. Winning tokens settle at $1, while losing ones expire worthless. All trades occur via peer-to-peer smart contracts built on the Polygon blockchain.

Polymarket saw a surge in profile during the 2024 U. S. presidential campaign, when trading volume on election markets surpassed $3 billion. Its probability signals have since been picked up by mainstream outlets and financial analysts as indicators of public sentiment and forecasting.

ICE’s strategic investment reflects growing institutional interest in prediction markets. With control over NYSE infrastructure and deep data capabilities, ICE aims to monetise sentiment analytics and integrate such signals alongside traditional financial indicators. ICE has maintained that the investment will not materially affect its 2025 financials.

Coplan has acknowledged the significance of the tie-up, saying the partnership “marks a major step in bringing prediction markets into the financial mainstream.” Jeffrey Sprecher, ICE’s CEO, praised the union as an alignment between legacy market infrastructure and next-generation decentralised finance innovation.

Observers suggest that navigating regulatory risk is central to Polymarket’s success. Its three-year exit from U. S. users followed a 2022 settlement with the CFTC over unregistered derivatives operations. That settlement barred U. S. users from accessing the platform, and investigations into U. S. usage had been a cloud over the company. With the regulatory clearance and ICE backing, Polymarket is now executing a comeback in the U. S. domain.

Polymarket also attracted backing from 1789 Capital, a venture fund backed by Donald Trump Jr., which joined its advisory board earlier this year. Kalshi, a peer prediction market, won a favorable court ruling against the CFTC last year, setting precedents that influence Polymarket’s legal and operational landscape. The broader industry is watching closely, as the success or failure of this bet by ICE may signal whether prediction markets can transition from niche crypto tools to mainstream financial instruments.

Shayne Coplan, born in 1998 and a former dropout from New York University, is now recognised as the youngest self-made billionaire under the Bloomberg index following the deal. His trajectory illustrates the accelerating nexus among finance, tech and speculative market platforms.

By Nitya Chakraborty There is a big possibility of renewal of India-US bilateral ties impacting the ongoing trade talks following the proposed one on one meeting between the Indian Prime Minister Narendra Modi and the U.S. President Donald Trump during their presence in Kuala Lumpur to attend the summit of ASEAN members on October 26 […]

The article Trump-Modi Meet At ASEAN Summit In Malaysia Can Remove Irritants In Indo-US Ties appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Cryptocurrency markets endured a historic collapse as leveraged positions were liquidated en masse – over 1.6 million traders wiped out $19.13 billion in bets within 24 hours, data from Coinglass shows.

The crash accelerated sharply after U. S. President Donald Trump announced an additional 100 per cent tariff on Chinese imports and threatened export controls on critical software, heightening fears of a full-blown trade war. Bitcoin plunged more than 12 per cent from its recent highs, briefly sliding below $102,000 before rebounding above $113,000.

Before the sell-off, Bitcoin had breached a new all-time peak above $125,000, buoyed by institutional inflows into crypto exchange-traded funds. Governments and institutional investors had viewed digital assets as a hedge amid macroeconomic uncertainty.

Today’s market rout, however, exposed the fragility of overleveraged positions in a thinly capitalised market. In a single hour on Friday, more than $7 billion of liquidations occurred. The top losses were seen among long positions, particularly in Bitcoin and Ethereum derivatives, which accounted for a substantial share of the forced unwinds.

Institutional players and high-net-worth traders were swept up in the cascade. Market watchers noted that order books lacked the depth to absorb such a severe shock, triggering knock-on effects through futures and perpetual swap markets.

Beyond crypto, equity indices faltered under the weight of renewed global risk aversion. The S&P 500 dropped 2.7 percent, while tech stocks, sensitive to trade tensions, bore steep losses.

Some analysts likened the event to a “black swan” moment for crypto markets — a sudden shock revealing systemic vulnerabilities in a still nascent asset class. Traders operating with high leverage, little hedging, and aggressive margin policies found themselves particularly exposed.

Efforts to assess contagion effects to traditional finance are underway. Banks offering crypto derivatives and prime brokers are now scrutinising counterparty risks. Regulators in several jurisdictions may use today’s crash to justify stricter margin and leverage rules for crypto trading.

Reviewing policy implications, the tariff escalation marks a sharp pivot in U. S.–China trade strategy. Trump framed the measures as retaliation for China’s export curbs on rare earth metals, which are critical for tech manufacturing. The move signals willingness to escalate economic confrontation, with markets already pricing in broader disruption to global supply chains.

Despite the volatility, some investors are still betting on long-term resilience of digital assets. The week before the crash saw a record $5.95 billion flow into global crypto ETFs, led by U. S. allocations, suggesting that capital rotation into crypto remains strong over medium timeframes.

Liquidity providers and market makers face fresh trials. Some have temporarily withdrawn from funding markets or widened spreads to mitigate risk exposure. In highly volatile hours, arbitrage desks and algorithmic liquidity engines contributed to exaggerated price swings.

Wider sentiment has turned cautious: on-chain analytics show a rise in stablecoin inflows to exchanges, possibly reflecting flight from risk. Options markets registered growing demand for deep out-of-the-money puts, as traders brace for further downside.

By Girish Linganna In a move that would have seemed unthinkable just a few years ago, Taliban Foreign Minister Amir Khan Muttaqi arrived in New Delhi on October 9 for an eight-day official visit that marks a watershed moment in India’s foreign policy. His meetings with External Affairs Minister S. Jaishankar, followed by visits to […]

The article The Price Of Pragmatism: What India Gains (And Loses) By Courting The Taliban appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nitya Chakraborty The Israel-Hamas peace deal announced by the US President Donald Trump on Wednesday night in Washington is a welcome development, however limited it be at the moment as the agreement between the two warring parties is only for the first phase of Trump sponsored deal involving the release of all hostages by […]

The article Israel-Hamas Ceasefire Deal Is Welcome But The Follow Up Is Crucial For Enduring Peace appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

A proposed ETF tracking the TRUMP meme coin has appeared on the Depository Trust & Clearing Corporation’s system — an infrastructural step that signals intent, though it falls short of regulatory approval.

Canary Capital, which filed an S-1 registration with the U. S. Securities and Exchange Commission for the ETF, now sees its TRUMP Coin fund listed in DTCC systems alongside other altcoin ETF candidates. The DTCC listing enables clearing and settlement readiness should approval arrive.

Analysts view the development as a technical milestone. Bloomberg ETF specialist Eric Balchunas observed that once a ticker appears on DTCC’s eligibility file, it rarely retracts — underscoring the forward momentum for the product. Nonetheless, he and others caution that DTCC inclusion is procedural and does not guarantee SEC consent.

Canary’s filing proposes that the ETF would offer exposure to the price dynamics of TRUMP token without requiring investors to self-custody the asset. To cover transaction costs inherent in the blockchain architecture, the filing permits the fund to hold up to 5 percent in Solana’s native token SOL, although it will not treat SOL as a core investment.

The TRUMP coin is a Solana Program Library token whose market value hinges heavily on political sentiment, community engagement and volatility rather than fundamental utility. Critics have raised concerns about the blending of political interests with speculative finance, warning of conflicts of interest and reputational risks to the broader crypto ecosystem.

This development coincides with DTCC’s addition of other altcoin ETFs — namely Fidelity’s Solana ETF and Canary’s XRP and Hedera funds — to its eligibility files. These moves have injected renewed optimism into altcoin ETF markets, though all such listings still await the SEC’s green light.

Momentum for altcoin ETFs has accelerated since spot Bitcoin and Ethereum funds gained approval. Still, the SEC has kept other proposals on ice, deferring decisions and delaying rulings. The regulator’s patience underscores the risk-management pressures it faces in balancing innovation and investor protection.

Canary’s TRUMP ETF filing follows earlier efforts by Trump Media & Technology Group, which has sought SEC approval for a suite of thematic “Truth Social Funds” ETFs covering areas such as energy, infrastructure and American icons.