Key facts
- The Senate passed a $69.5 billion budget reconciliation package for immigration enforcement through 2029.
- The Senate passed funding for Immigration and Customs Enforcement (ICE) after an all-night session.
- Bitcoin fell to an intraday low of $65,700 on Wednesday.
- US spot Bitcoin funds saw $519 million in outflows.
- Bitcoin is 47% below its October 2025 peak.
- The House of Representatives passed a war powers resolution to block President Trump's military action against Iran.
- The House war powers resolution vote was 215 in favor and 208 against.
- Four Republicans joined Democrats in voting for the war powers resolution.
- A tech CEO was arrested for allegedly selling U.S. equipment to Iran.
- The tech CEO was arrested at his $35 million mansion.
- The alleged equipment sales to Iran may have been for military and nuclear programs.
- A sweeping executive order could lead to approximately 8,000 federal workers facing job cuts.
The U.S. Senate has passed a $69.5 billion budget reconciliation package that will fund immigration enforcement through 2029, including provisions for Immigration and Customs Enforcement (ICE). This legislative action followed an all-night session. The Senate's move comes as broader geopolitical tensions and rising oil prices fuel market unease, impacting the Federal Reserve's interest rate outlook. Bitcoin, a major cryptocurrency, fell to an intraday low of $65,700 on Wednesday, with U.S. spot Bitcoin funds experiencing $519 million in outflows. Bitcoin is now 47% below its October 2025 peak.
In parallel legislative developments, the House of Representatives passed a war powers resolution with a vote of 215 in favor and 208 against, aiming to block President Donald Trump's potential military action against Iran. Four Republicans joined Democrats in supporting this resolution, indicating a divergence from the President's stance on war. Further complicating matters, a tech CEO was arrested at his $35 million mansion for allegedly selling U.S. equipment to Iran. This equipment may have been supplied to Iran's military and nuclear programs, and the arrest is part of an ongoing investigation into illicit technology transfers. The House also issued a rare rebuke of the president.
These events unfold against a backdrop of increasing political pressure on Republicans as midterm elections approach. Senate votes during 'vote-a-rama' sessions have highlighted these pressures, with some Republican defectors reportedly breaking with Donald Trump over war-related issues. The indecision of Donald Trump regarding his payout fund has also stalled Senate actions. The article also touches on competitive Senate races, the Harris-Newsom rivalry, and GOP senators' stances on Trump's 'anti-weaponization' fund. The president's green card policy has reportedly been softened, and a sweeping executive order could lead to approximately 8,000 federal workers facing job cuts. Donald Trump's strategy for removing immigrants is also under examination.
Additionally, the U.S. economy is showing new signs of resilience. The article also mentions unrelated topics such as upcoming sporting events, Serena Williams's return to tennis, SpaceX's potential IPO, a speculative link between streetlights and allergies, FIFA imposing a ban, and the return of a flesh-eating parasite. Major technology companies' targeting of teenagers in schools is also discussed.