DOJ calls for 20-year sentence for Celsius founder Alex Mashinsky: CNBC Crypto World
On today's episode of CNBC Crypto World, major cryptocurrencies trade higher with ether climbing more than 3% to more than $1,800. Plus, the Department of Justice is seeking a 20-year prison sentence for former Celsius CEO Alex Mashinsky. And, Chris Maurice of crypto payments firm Yellow Card discusses regulatory developments around stablecoins in the United States.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
6 hours ago
- Miami Herald
Elian González breaks silence 25 years later: ‘I'm going through difficult times'
Elian González had some surprising things to say on state television as the Cuban government commemorates the 25th anniversary of his return to the island from Miami. The story of Elian González made international headlines in the early 2000s, heightening tensions between the Cuban exile community and the regime in Havana. González praised the pivotal role of the late revolutionary leader Fidel Castro, who ordered mass rallies across the island. What did Elian González say? González said he has no regrets about remaining in Cuba, although he hinted that, like other Cubans, he may be enduring hardship due to the severe economic crisis gripping the country. 'What has never crossed my mind is regretting being in Cuba and growing up with my family. I may be going through difficult times, whatever the problem may be, but Fidel taught me to fight, to push forward,' he said Thursday on state television during an event at the Fidel Castro Ruz Center in Havana. González also expressed his 'gratitude' to the late revolutionary leader 'for giving me a place in the hearts of Cubans.' He added, 'What can never be in doubt is my commitment to the people of Cuba.' According to Cuban state news, González criticized the Cuban Adjustment Act, claiming it was the reason his mother left the island on a perilous sea journey. A victory for Castro's regime? The Cuban government celebrates June 28 each year as the anniversary of Elian González's return, describing him as a child 'kidnapped in Miami by distant relatives in collusion with the Cuban-American mafia.' When he was 6, González was rescued off the coast of the United States after his mother died during a shipwreck of the boat they had taken to flee Cuba. The child survived by clinging to an inner tube. His case drew global attention as a bitter legal and political battle unfolded. In the end, U.S. federal agents raided the Miami home of González's relatives and forcibly removed him under orders from the Department of Justice to return him to his father in Cuba — a move that the Cuban government has since celebrated as a symbolic victory. The Associated Press photo capturing the moment agents found the boy in a closet in his relatives' home became world famous and earned a Pulitzer Prize. The photographer, Alan Diaz, died in 2018. Since his return to Cuba, González's life has been periodically covered by the state-run media, often to highlight Fidel Castro's legacy. In 2023, the 'raft boy' was elected to Cuba's National Assembly as a representative for Cárdenas, the municipality in Matanzas province where he lives. Around that time, González told CNN he hoped to help improve relations between Havana and Washington. 'I think I could be a visible face for the American people and help the people of Cuba and the people of the United States become closer,' he said. 'And not just the people, but that our governments reach an understanding, and remove all the barriers that exist between us.'
CNBC
6 hours ago
- CNBC
Coinbase shares rise as investors anticipate U.S. stablecoin rules: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin and ether are little changed as investors assess the Fed's next move on interest rates and President Trump's strategy for the Israel-Iran conflict. Plus, Coinbase rises after the company shuffles its EU hub to Luxembourg and investors await U.S. stablecoin rules. And, Phil George of EarnOS discusses why brands could could look to stablecoins in the future.
Time Magazine
11 hours ago
- Time Magazine
How Ranked-Choice Voting in the New York City Mayoral Primary Works
Early voting is already underway in New York City's contentious Democratic primary for mayor ahead of the June 24 election. The last three mayoral elections in New York have been won by a Democratic candidate, meaning whoever wins the primary is likely to become the city's next mayor. Former Gov. Andrew Cuomo has long held a lead in primary polls, but state Assemblymember Zohran Mamdani has narrowed the gap in recent weeks with a surge in momentum. Voters will be able to rank multiple candidates on their ballots rather than just picking their top choice after the city adopted ranked-choice voting in a 2019 referendum. Eric Adams, who currently holds the position, is not in the Democratic race after he was charged with bribery, illegal campaign finance and conspiracy offenses in September 2024. Adams pleaded not guilty, and in April the charges were dropped by the Department of Justice. He is running for Mayor again this year as an Independent candidate. Alongside Adams and the eventual Democratic candidate, Republican Curtis Sliwa is running again after being defeated by Adams in 2021. Jim Walden, a former federal prosecutor, is also running as an Independent. Here's everything you need to know about who's running in the New York City Democratic primary—and how the voting works. Who is on the ballet—and what do they stand for? Cuomo, the frontrunner in the tightening race,has focused on affordability, security and housing on the campaign trail. Cuomo has said that he will increase the size of the police force by 15%, an estimated 5,000 extra officers, reduce income tax for some low-income households, and provide more affordable housing with more robust tenants rights. The 67-year-old has come under scrutiny from other candidates for scandals he faced as governor. He resigned from the position in 2021 after more than a dozen women made allegations of sexual harassment against him. Cuomo has denied ever inappropriately touching or propositioning anyone, though he apologized for comments he made in the workplace that he said 'may have been insensitive or too personal.' An investigation by the state attorney general's office found that he 'sexually harassed a number of current and former New York State employees' and 'created a hostile work environment for women.' In May, the Justice Department opened an investigation into Cuomo regarding his testimony on the City's handling of the COVID-19 pandemic as governor. Mamdani, the Assemblymember who has recently been rising in the polls,has focused his campaign on the cost of living, using the slogan 'A City We Can Afford.' Mamdani, a democratic socialist, has said that he will freeze rent increases across New York, provide fare-free buses, provide free childcare to those aged six weeks to 5 years old, and establish non-profit grocery stores run by the City. The youngest candidate in the primaries at 33, Mamdani has faced criticism for some remarks on the Israel-Hamas war, including when he appeared to defend the slogan 'globalize the intifada.' Mamdani has denied allegations of antisemitism, while also speaking about the Islamophobia he has experienced in his career. When questioned on whether he believes Israel has the right to exist, he replied: "I believe Israel has the right to exist … as a state with equal rights.' New York City Comptroller Brad Lander, whose arrest at an immigration courthouse last week thrust him into the national spotlight, is also running in the Democratic primary, focusing on safety and affordability, as well as ' Standing up to Donald Trump.' Lander has said he aims to end homelessness for those with serious mental health issues with a policy he says will put people in stable housing 70-90% of the time. Lander also says that he will build 500,000 new housing units and 'cut through red tape' for more affordable housing, plus improve transport efficiency. The city comptroller was arrested on Tuesday, June 17, at a New York courthouse as he was escorting a migrant man who agents from Immigration and Customs Enforcement (ICE) were seeking to detain, becoming the latest of several elected officials across the country to confront federal authorities over President Donald Trump's immigration crackdown. Lander and Mamdani have cross-endorsed each other, urging their supporters to rank the other second on their ballots. Adrienne Adams, Assemblymember for New York's 28th district and Speaker of the New York City Council, is also in the running. Adams, like other candidates, has put her focus on affordability and housing in New York. She has said she will continue to push for more housing construction and affordable housing, as well as investment in law enforcement and other programs to try and prevent crime before it happens. Similarly to Mamdani and Lander, Adams has hit out against Trump in her campaign. The Assemblymember says on her website that she has already worked to 'Trump-proof NYC' and will keep the President—who she says 'threatens everything that makes us New York'—in check if she is elected Mayor.. Other candidates in the race who have garnered lower support in recent polls are former Vice Chair of the Democratic National Committee Michael Blake, New York State Senator Zellnor Myrie, New York State Senator Jessica Ramos, former New York Comptroller Scott Stringer, and investor Whitney Tilson. How does ranked-choice voting actually work? Ranked-choice voting allows voters to rank multiple candidates in order of their preference, putting their preferred choices first, then second, then third and so forth. In New York City, the method is used for Special and Primary Elections for Mayor, as well as in Public Advocate, Comptroller, Borough President, and City Council elections. Adopted in 2019, it was first used in 2021. Voters in the Democratic mayoral primaries are able to rank their top five candidates, but are not required to fill all five slots. If a candidate gets over 50% first-choice votes, they win. But if not, the candidate with the fewest votes is eliminated as votes are counted in subsequent rounds. For voters who put the last-place candidate as their first choice, their second choice is then counted. This process of elimination continues until there is a majority winner. While this is the process for New York, the system varies from state to state where ranked-choice voting has been adopted. What are the advantages and disadvantages of ranked-choice voting? Nonpartizan organization FairVote says that this voting system eliminates a few issues, such as 'vote-splitting,' in which similar candidates can draw votes away from each other. FairVote argues that ranked choice means voters can support multiple candidates, and their vote is still represented if their first choice is eliminated. It also encourages cross endorsing, such as with Mamdani and Lander, giving voters an idea of like-minded candidates. RankedVote, a software company that advocates for the system, argues that voters' opinions are heard throughout the process and are more represented. 'Once there's more than two candidates in a typical 'most votes wins' election, it's very easy for the 'winner' to have a weak plurality of support. It's entirely possible that the winning candidate only commands 38% of the vote when a majority of the electorate would have preferred someone else,' the company argues. However, a voting system different from what the public are used to could cause confusion. Democratic political strategist Hank Sheinkopf said that the system could benefit voters more educated on voting procedures. Ranked-choice voting also allows for scenarios in which the candidate with the most first-choice votes still loses. This occurred in the 2018 House election for Maine's second district, in which Democratic candidate Jared Golden received 131,954 first-choice votes, compared to Republican Bruce Poliquin's 134,061. However, due to the ranked-choice process, Golden won by almost 3,000 votes. What other states use ranked choice voting? The system is used in 17 different states across the U.S. in a number of different state and local elections. In Arkansas, Louisiana, Mississippi, Alabama, Georgia, and South Carolina, it is also used for military and overseas voters. In Maine, the system is used in primary and general elections for the presidency, Senate, and House elections, including the aforementioned 2018 election, as well as in statewide and state assembly primaries. In Alaska, it is also used statewide for general elections.
