Binance US Resumes USD Deposits and Withdrawals
On February 19, 2025, Binance US announced the restoration of U.S. dollar (USD) deposit and withdrawal services for eligible customers. This development allows users to link their bank accounts via Automated Clearing House (ACH) transfers, facilitating the purchase of cryptocurrencies and trading on USD pairs. The feature is being gradually rolled out to all eligible customers.
President Trump Accuses Ukrainian President of Mismanaging U.S. Aid
During a finance conference in Miami on February 19, 2025, President Donald Trump criticized Ukrainian President Volodymyr Zelenskyy, labeling him a “dictator without elections” and accusing him of mishandling the Ukraine-Russia war. Trump’s remarks have ignited considerable controversy, with Illinois Governor JB Pritzker likening Trump’s authoritative power moves to Nazism.
Elon Musk’s DOGE to Audit U.S. Funds Sent to Ukraine
Elon Musk’s Department of Government Efficiency (DOGE) is set to audit U.S. funds allocated to Ukraine. This initiative aims to identify and eliminate wasteful government spending, with a particular focus on the Pentagon’s budget. National Security Adviser Mike Waltz suggested that the Pentagon’s shipbuilding processes could be an area of particular interest for the audit.
S&P 500 Closes at a New All-Time High
On February 20, 2025, the S&P 500 index closed at a new all-time high, supported by gains in major technology companies such as Microsoft and Tesla. Despite these gains, concerns about high mortgage rates and tariff policies continue to weigh on investor sentiment.
President Trump Signs Executive Order to Terminate Federal Benefits for Illegal Aliens
President Trump signed an executive order on February 20, 2025, directing federal agencies to identify and halt programs providing financial benefits to illegal immigrants. The order also ensures that federal funds to states and localities will not be used to support “sanctuary” policies or assist illegal immigration.
President Trump Considers Distributing 20% of DOGE Savings to Americans and Paying Down Debt
President Trump is considering using 20% of the savings identified by Elon Musk’s DOGE initiative to provide direct payments to American citizens and another 20% to reduce the national debt. This proposal, known as the “DOGE Dividend,” could result in approximately $5,000 per household.
President Trump Expresses Commitment to Making America the Crypto Capital
President Trump has expressed his commitment to making America the “crypto capital,” signaling a favorable stance toward the cryptocurrency industry. This aligns with his administration’s efforts to overhaul U.S. crypto policy, including the creation of a cryptocurrency working group tasked with proposing new digital asset regulations.
President Trump Seeks to Abolish the IRS
President Trump has signed an executive order halting the hiring of federal employees, including new IRS agents, until his administration determines it is in the national interest to do so. This action is part of his broader efforts to reduce the size of the federal government and protect middle-class families and small businesses from IRS audits.
President Trump Confirms Support for a “DOGE Dividend” Tax Refund for Every Taxpayer
President Trump has confirmed his support for a “DOGE Dividend” tax refund for every taxpayer, proposing that savings from the DOGE initiative be returned to citizens. This proposal aims to encourage people to report wasteful government spending and provide financial relief to American households.