Jake Lahut: It’s much simpler when you’re on the opposition side. For Dan Bongino, taking over as the successor to Rush Limbaugh is a fantastic opportunity. Being the FBI’s deputy director, however, is a challenging task with responsibilities and no chance to adopt the conservative media’s strategy of gradually releasing information for continuous content.
Zoë Schiffer: Exactly, because you’re in possession of all the documents. People simply demand, “Just release them.”
Jake Lahut: You are essentially the establishment, indeed.
Zoë Schiffer: Our next story focuses on tariffs, a recurring subject for the Trump administration. It involves a significant operation where bitcoin miners rushed to avoid substantial tariff increases implemented around April’s Liberation Day. Our colleague Joel Khalili detailed the complicated logistics that Luxor Technology, a U.S.-based company, undertook to ship two packages of bitcoin mining equipment, each worth millions, from Thailand, Malaysia, and Singapore, all facing significantly higher tariffs. This situation created a major challenge. At one point, they bid 1.76 million for a charter plane, only to be outbid overnight by another importer eager to bring their equipment to the U.S. While the Trump administration has shown support for this industry, they may not be fully aware of how these high tariff hikes negatively affect the industry they intend to promote.
Jake Lahut: This situation highlights the growing “shut up and take it” attitude within the Republican Party. Their message to the crypto community, whether they’re large entities like Coinbase or Kraken or individuals wealthy from bitcoin but not industry insiders, is consistent. Even if they contributed significantly to the campaign and sought tariff relief or other considerations, they’re told, “Sit down, and let us handle the decisions. Good luck negotiating with the Democrats.” This creates an intriguing potential opening for Democrats on a cultural level with crypto supporters, rather than a policy-focused one. Joel’s article is compelling, underscoring the urgency and frenzy involved. It resembles a high-stakes challenge, with companies scrambling to minimize tariff costs depending on the source country. The story has an intense, urgent feel to it.