President Donald Trump amassed over $400 million through his super PAC, MAGA Inc. — the largest midterm war chest ever. Now, Trump has begun aggressively spending that money. Some ads inaccurately accuse Democratic candidates of supporting MAGA policies. Other ads, in an effort to find an effective attack, simply use false or fabricated claims.
The crypto industry was desperate to pass the Clarity Act, which would legitimize and stabilize its business by providing it with a federal regulatory framework. Trump, who earned around $1.4 billion through his family’s crypto ventures in 2025, would be one of the primary beneficiaries of a permissive regulatory environment. On Monday, Senator Cynthia Lummis (R-WY) released a new version that she claimed included more ethics requirements for Trump. But it does nothing to actually limit Trump’s business. (UPDATE: The Senate saw through the ruse and blocked the bill from advancing on a 49-50 vote.)
As the midterm elections approach, the AI industry has tapped a former Obama aide, Jay Carney, to build ties with Democrats. This move was celebrated by former Vice President Kamala Harris as an “encouraging effort.” But Carney brings considerable baggage to the role. After leaving the Obama administration, Carney spent years as an executive at Amazon, where he worked to quash privacy and AI regulations.
