Author

admin

Browsing

The Supreme Court heard arguments Monday on whether Louisiana lawmakers can use race as a factor when drawing congressional maps, a closely watched case that could impact voters nationwide in the 2026 midterms.

At issue is whether the state’s congressional map, updated twice since the 2020 census, is an illegal racial gerrymander. It has faced two federal court challenges – first, for diluting minority voting power under the 1965 Voting Rights Act, and most recently, for potentially violating the equal protection clause of the 14th Amendment and the 15th Amendment of the U.S. Constitution.

The high court, which agreed to take up the case last fall, is expected to hand down its decision by late June. 

During oral arguments, the justices focused closely on whether Louisiana’s redistricting efforts were narrowly tailored enough to meet constitutional requirements and whether race was used in a way that violates the law, as plaintiffs have alleged.

Louisiana Solicitor General Benjamin Aguiñaga argued that the state’s latest map protected political stability, including preserving leadership positions like the U.S. House speaker and majority leader.

‘I want to emphasize that the larger picture here is important – because in an election year we faced the prospect of a federal court-drawn map that placed in jeopardy the speaker of the House, the House majority leader and our representative on the Appropriations Committee,’ Aguiñaga said. ‘And so in light of those facts, we made the politically rational decision: we drew our own map to protect them.’

Louisiana’s congressional map has twice been challenged in federal court since it was updated in the wake of the 2020 census, which found that the state’s Black residents now totaled one-third of Louisiana’s total population. 

The first redistricting map, which included just one district where Black voters held the majority, was invalidated by a federal court (and subsequently, by the U.S. Fifth Circuit Court of Appeals) in 2022. 

Both courts sided with the Louisiana State Conference of the NAACP and other plaintiffs, who argued that the map violated Section 2 of the Voting Rights Act by diluting the voting power of Black voters in the state. 

Lawmakers were ordered by the court to adopt by January 2024 a new state redistricting map. That map, S.B. 8, was passed and included the creation of a second majority-Black voting district in the state. 

But S.B. 8 was almost immediately challenged by a group of non-Black plaintiffs in court as well, after they claimed issue with a new district that stretched some 250 miles from Louisiana’s northwest corner of Shreveport to Baton Rouge, in the state’s southeast. 

They argued in the lawsuit that the state violated the equal protection clause by relying too heavily on race to draw the maps, and created a ‘sinuous and jagged second majority-Black district based on racial stereotypes, racially ‘Balkanizing’ a 250-mile swath of Louisiana.’

The Supreme Court agreed last November to take up the case, though it paused consideration of the arguments until after the 2024 elections.

Meanwhile, Louisiana officials argued in court filings that non-Black voters failed to show direct harm required for equal protection claims or prove race was the main factor in redrawing the map.

They also stressed that the Supreme Court should clarify how states should proceed under this ‘notoriously unclear area of the law’ that pits Section 2 of the Voting Rights Act against equal protections, describing them as two ‘competing demands.’ 

Officials have cited frustrations over repeatedly redrawing maps, and the prospect of being ordered back to the drawing board once again, and asked the court to ‘put an end to the extraordinary waste of time and resources that plagues the States after every redistricting cycle.’ 

This post appeared first on FOX NEWS

A House Democrat who represents a district that former Vice President Kamala Harris lost to now-President Donald Trump in 2024 is sounding the alarm about public perceptions of his party.

‘I think the Democratic brand is really in trouble, and it’s been portrayed as this crazy-left, you know, out-of-touch thing,’ Rep. Tom Suozzi, D-N.Y., told Fox News Digital in an interview. ‘They couldn’t paint me with that brand because people know me.’

Suozzi is well-known in his suburban Long Island district, having been a longtime local official before first coming to Congress in 2017. He did not run for re-election in 2022 but later won a special election to replace expelled former Rep. George Santos, R-N.Y., and has remained ever since.

During that time, he forged a reputation as a moderate Democrat willing to find bipartisan consensus on issues like government waste and border security – themes he wished his party would take the lead on.

 

‘When I first started talking about immigration, the need to secure the border, a lot of consultants were like, ‘Well, that’s a Republican issue. I don’t know if you should talk about that.’ But I said, ‘That’s what the people are talking about in my district,” Suozzi recalled.

‘I’m a first-generation American. My father was born in Italy, so immigration is a really important issue to me. When it became such a negative, it was actually painful for me, because I define my whole life through immigration.’

He said people in his district were also concerned about the cost of living, which he suggested was a universal concern.

‘We don’t, as Democrats, focus enough on the basics,’ Suozzi said. ‘It can’t just be choice and LGBT – important issues, but that you can’t build a party around that – so I’m trying to encourage Democrats to talk about things like, how do we rebuild the middle class?’

Additionally, like House Democratic leaders in more recent election cycles, Suozzi also denounced progressive calls to ‘defund the police’ – which he called ‘the stupidest three words ever said in the history of politics.’

He even argued Democrats were on board with cutting government waste, the stated mission of the Department of Government Efficiency (DOGE), though Suozzi disagreed with how it was being carried out.

‘I want to set up a competition between the Democrats and the Republicans. Let’s see who can root out more waste, fraud and abuse,’ he said.

‘I don’t think anybody’s against rooting out waste, fraud, and abuse. We just don’t think that when you’re doing it through DOGE, that you should be eliminating the people that oversee the nuclear stockpile, like they did and then reversed,’ Suozzi continued.

‘We don’t think that you should be eliminating the people that are responsible for preventing the avian flu. Which they did and then tried to reverse. We don’t think you should be eliminating the people that are overseeing the outbreak of measles in Texas. That’s not a good idea. But they did. So let’s be smart about these things and let’s, you know, figure out ways that we can actually save money.’

He also called on Democrats to focus more on outreach outside ‘traditional media,’ noting Trump’s embrace of podcasts and social media to reach young male voters.

Suozzi, in particular, singled out Trump and Elon Musk’s appearances on ‘The Joe Rogan Experience,’ one of the most-listened-to podcasts in the world.

‘We have to figure out how we can get the truth out there to people. When Elon Musk or the president or somebody says something and there’s nobody to check it, and there’s no way to push back because nobody– I can’t get on Joe Rogan. I’d love to go on Joe Rogan. I can’t get on,’ he said.

Sen. John Fetterman, D-Pa., was the only prominent Democrat to appear on Rogan’s podcast during the 2024 election cycle. Tentative plans for Harris to appear fell through, though she did appear on the ‘Call Her Daddy’ podcast.

Overall, however, the New York Democrat signaled he was confident Democrats could take back the House of Representatives in 2026, given the historic electoral backlash to a sitting president during the midterm elections.

It is worth noting, however, that Democrats will be defending more vulnerable members in 2026 than Republicans.

I mean, you look at history and when a president of one party gets in power – usually that party usually loses elections the year and two years afterward. So, like, even in the local elections this year, I think you’re going to see a much higher Democratic vote because the Democrats are going to be energized, because they’re all so upset,’ Suozzi said. ‘I think that the midterms will be the same thing.’

Suozzi warned, however, that Democrats’ message ‘can’t just be about why we disagree with Trump and, you know, hair on fire and everybody freaking out.’

‘There are a lot of causes for concern,’ he conceded, but added, ‘We have to also talk about what we stand for. And I think, again, this whole idea of rebuilding the middle class and public safety and strong defense and securing the border – we have to also talk about those things as well.’

This post appeared first on FOX NEWS

President Donald Trump’s Cabinet outlined billions of dollars in contracts it says it has canceled since he took office, including a ‘$300,000 contract educating on food justice for queer and transgender farmers in San Francisco’ and $830 million on surveys described as looking like ‘anyone’s child in junior high could have put together.’ 

The contracts, which Trump said represented ‘fraud,’ are being canceled as Elon Musk and the Department of Government Efficiency (DOGE) are trying to eliminate wasteful spending by the federal government. 

‘Even at the U.S. Department of Agriculture, we canceled a $300,000 contract educating on food justice for queer and transgender farmers in San Francisco. A similar contract we canceled in New York, again educating transgender and queer farmers on food justice and food equality. I’m not even sure what that means, but apparently the last administration wanted to put out taxpayer dollars towards that,’ Agriculture Secretary Brooke Rollins told Trump. 

‘We canceled a $600,000 contract out of Louisiana that was studying the menstrual cycles of transgender men. We canceled another contract out of a university in the middle of the country that focused on getting more diversity, equity and inclusion into our pest management industry,’ she continued. ‘Again, these are nonsensical, it makes zero sense to use taxpayer dollars to fund these. I know these are just a few examples of the hundreds and hundreds we have found.’ 

Interior Secretary Doug Burgum told Trump that ‘There is a federal consulting group which was a group inside of Interior, but it was managing contracts for many different agencies that flowed through here’ and ‘one of those contracts was to do surveys of individuals, $830 million for surveys.’ 

‘And so part of the question was ‘hey could we actually see the surveys?’ and then the surveys came back and it was, the survey was like 8.5 by 11 sheet of paper with ten questions that anyone’s child in junior high could have put together, or AI could have done for free,’ Burgum said during the Cabinet meeting. ‘$830 million, so that is one that we stopped and that contract was going out after you were inaugurated, sir.’ 

‘It’s fraud,’ Trump responded. ‘But we’ve had many fraudulent contracts that were caught by the work that Elon and his people are doing and working with our people. It’s been brought to light. The fraud, not just waste and abuse. The fraud has been incredible.’ 

An X account linked to the White House said Burgum announced $830 million in savings by ‘cutting contracts for useless surveys.’ 

‘The EPA has now canceled over $22 billion worth of contracts – $2 billion going to this NGO that Stacey Abrams was tied to. They received only $100 in 2023 and then the Biden administration gave them $2 billion,’ Environmental Protection Agency Administrator Lee Zeldin also said. ‘The director of the Greenhouse Gas Reduction Fund saw his former employer get $5 billion dollars. So $20 billion went to just eight NGOs.’ 

‘The partnership with DOGE and Elon Musk has been incredible at EPA. Their team is very talented, we wouldn’t have been able to do it without them and of course this mandate from President Trump to make sure that we identify every last penny, whether we are saving $50,000, five million dollars or $22 billion dollars we will not rest until every last penny is saved. Thank you, Mr. President for the opportunity to do this for the American public,’ Zeldin added. 

This post appeared first on FOX NEWS

The recent arrest of Istanbul’s Mayor Ekrem İmamoğlu and main rival of President Erdoğan has sparked the largest protests in Turkey in a decade, with over 1,100 people detained in demonstrations across the country.

The Istanbul mayor and 106 other municipal officials and politicians were detained on March 19 for what Human Rights Watch called a politically motivated move to stifle lawful political activities.

‘By forcing Imamoglu out of politics, the government has crossed the line that separates Turkey’s competitive authoritarian regime from a full, Russian-style autocracy in which the president handpicks his opponents and elections are purely for show,’ Gonul Tol, Director of Turkish Program at the Middle East Institute, told Fox News Digital.

A spokesperson from Turkey’s embassy in Washington, D.C., told Fox News Digital that Turkey’s Interior Minister Ali Yerlikaya said 1,133 people have been detained since the arrest of the mayor, and around 123 police officers have been injured since the start of protests. Yerlikaya also alleged that weapons were seized during the protests and the individuals detained were found to have ties to different terrorist organizations and prior criminal records.

Some experts believe the move was orchestrated by Erdoğan to sideline the opposition, silence political dissent and increase his own power.

‘This is a dark time for democracy in Turkey, with such a blatantly lawless move to weaponize the justice system to cancel the democratic process,’ Hugh Williamson, Europe and Central Asia Director at Human Rights Watch, told Fox News Digital in a statement.

In an address to celebrate the festival of Nowruz on Friday, Erdoğan said Turkey was not a country that was found on the street and will not submit to street terrorism.

‘We will not allow public order to be damaged. We will not give in to vandalism or street terrorism,’ Erdoğan said, according to Reuters.

The opposition Republican People’s Party (CHP) held a symbolic primary vote over the weekend and nominated İmamoğlu to be the party’s candidate for president to face Erdoğan in the 2028 elections.

Despite the increased repression and threats to their own safety and security, the Turkish opposition does not yet seem to be backing down.

‘We, as the main opposition party that emerged as the first party in the last local elections in March 2024, will stand firm and resist any kind of oppression by the government,’ İlhan Uzgel, CHP Deputy Chairman for Foreign Policy, told Fox News Digital.

Uzgel said Erdoğan seems frightened of losing power, and is urging opposition supporters to take to the streets to defend democracy, challenge lawlessness, and challenge the Erdoğan government’s abuse of power.  

‘We are happy to see that our people take to the streets despite the occasional use of force by the riot police, and demonstrate peacefully, which is a constitutional right,’ he added.

Imamoglu, who is presently jailed and is awaiting trial on corruption charges, was viewed as the most serious challenger to the decades-long rule of Erdoğan. His detention will likely keep him out of the political opposition for the foreseeable future, dealing a huge blow to Turkey’s pro-democracy movement. 

Tol of the Middle East Institute said Erdoğan is banking on people’s anger dissipating over time and that the mass protests will eventually die down. The election is not scheduled until 2028, and people, Erdoğan hopes, will most likely forget and move on.

The danger, according to Tol, is that street protests in the Middle East and elsewhere tend to go in many different directions, and there is no telling how long the public anger over the arrests will last and how much more popular support the movement will gain.

İmamoğlu, member of the secular Republican People’s Party (CHP), was elected mayor of Istanbul in 2019 and re-elected in 2023. In both elections, he defeated Erdoğan-backed opponents. 

Turkey’s problems come at a time when President Trump is reportedly considering lifting sanctions on the NATO member and resuming the sale of F-35 fighter jets following a recent phone call with Erdoğan.

Reuters contributed to this article.

This post appeared first on FOX NEWS

President Donald Trump has named Susan Monarez as his nominee for the next director of the Centers for Disease Control and Prevention (CDC), calling the candidate ‘a dedicated public servant.’

Monarez, who is currently acting director of the CDC, replaces Trump’s original nominee for the role, Dr. David Weldon. The Trump administration never gave an official reason why Weldon’s nomination was withdrawn earlier this month, but a source familiar with the matter told Fox News Digital that it would have been a ‘futile effort.’

‘It became clear that the votes weren’t there in the Senate for him to get confirmed,’ the source explained. ‘This would have been a futile effort.’

In a Truth Social post published on Monday, Trump wrote that Monarez ‘brings decades of experience championing Innovation, Transparency, and strong Public Health Systems.’

‘She has a Ph.D. from the University of Wisconsin, and PostDoctoral training in Microbiology and Immunology at Stanford University School of Medicine,’ the president wrote. ‘Dr. Monarez understands the importance of protecting our children, our communities, and our future.’

Trump also claimed that Americans have ‘lost confidence’ in the CDC, citing ‘political bias and disastrous mismanagement,’ as reasons why.

‘Dr. Monarez will work closely with our GREAT Secretary of Health and Human Services, Robert Kennedy Jr,’ the president continued. ‘Together, they will prioritize Accountability, High Standards, and Disease Prevention to finally address the Chronic Disease Epidemic and, MAKE AMERICA HEALTHY AGAIN!’

According to Monarez’s CDC biography, she previously worked at the White House in the Office of Science and Technology Policy and on the National Security Council.

‘[She led] efforts to enhance the nation’s biomedical innovation capabilities, including combating antimicrobial resistance, expanding the use of wearables to promote patient health, ensuring personal health data privacy, and improving pandemic preparedness,’ the biography states. ‘She has also held leadership positions at the Department of Homeland Security and has led numerous international cooperative initiatives to promote bilateral and multilateral health innovation research and development.’

Fox News Digital’s Rachel Wolf and Julia Johnson contributed to this report.

This post appeared first on FOX NEWS

Speaker Mike Johnson, R-La., is expected to privately meet with Republican members of the House Judiciary Committee on Tuesday, two people familiar with the plans told Fox News Digital.

The timing or reason for the meeting is not immediately clear, but it comes as Republicans in Congress map out how to respond to what they see as ‘activist’ judges blocking President Donald Trump’s agenda.

The committee is currently scheduled to mark up several pieces of legislation, unrelated to the judicial standoff, on Tuesday morning at 10 a.m. ET. Johnson is scheduled to hold his weekly press conference at that time.

It comes as the Trump administration has faced more than a dozen injunctions from various district court judges across the country on a range of policy decisions.

House Majority Leader Steve Scalise, R-La., announced on X Monday that lawmakers would be voting on a bill next week led by Rep. Darrell Issa, R-Calif., to limit U.S. district court judges’ ability to hand down nationwide injunctions.

Fox News Digital was told last week that Trump himself expressed interest in the bill.

Meanwhile, House Judiciary Committee Chairman Jim Jordan, R-Ohio, is expected to hold a hearing on the issue of activist judges early next week.

Several conservative lawmakers have also introduced or threatened resolutions to impeach specific judges blocking Trump’s agenda.

Johnson has been known to meet with various factions of the House GOP when trying to push key pieces of legislation, particularly when there are differing opinions on what to do, to ensure all lawmakers who want to express a viewpoint are heard.

But House GOP leaders have also been privately wary of getting behind any of the calls for impeachment, worried it would not be the most effective approach.

Trump, however, has previously signaled interest in impeaching U.S. district court Judge James Boasberg after he issued an emergency order blocking the administration’s deportation of suspected Tren de Aragua gang members under the Alien Enemies Act.

Rep. Brandon Gill, R-Texas, introduced a resolution to impeach Boasberg for ‘abuse of power’ last week. The legislation gained three new supporters on Monday and now has 19 total co-sponsors.

Some House Republicans expressed hesitation at the idea when asked by Fox News Digital on Monday night, however.

‘We shouldn’t lower the standard for impeachment, but we should – we meaning Congress – should provide a remedy for district court judges who totally overreach,’ Rep. Nick LaLota, R-N.Y., said.

Another House Republican who declined to be named said they were ‘totally opposed’ to impeachment.

‘That’s what the appeals process is for,’ they said.

Rep. Marlin Stutzman, R-Ind., contended that the impeachment resolutions sent a necessary message. 

‘The reason I sponsored Gill’s efforts is just – if we don’t say anything, the judges are going to be like, ‘Oh, we can do whatever we want.’ So they need to know that we are watching and that there’s a group of us that, if that’s what it takes, we would support that,’ Stutzman said.

Rep. Ralph Norman, R-S.C., said Issa’s bill was a ‘start’ but said the House Freedom Caucus would have discussions about whether the group wanted to push for impeachment.

Fox News Digital reached out to Johnson’s office and the House Judiciary Committee for comment but did not immediately hear back.

This post appeared first on FOX NEWS

U.S. Attorney General Pam Bondi issued a stern warning to those engaged in government fraud at the most recent Cabinet meeting on Monday.

Speaking with President Donald Trump present at the meeting, Bondi thanked Tesla CEO Elon Musk for uncovering ‘fraud, waste and abuse’ through the Department of Government Efficiency (DOGE) initiative.

‘A lot of waste and abuse, but there is a tremendous amount of fraud,’ Bondi began. ‘And, Elon, thank you for your partnership. Thank you for your team. You have uncovered so much fraud in our government.’

Bondi then revealed that an internal task force is involved with bringing those accused of fraud to justice.

‘We will prosecute you,’ the attorney general warned. ‘We have an internal task force now working with every agency sitting here at this table. And if you’ve committed fraud, we’re coming after you. Thank you, Elon.’

Bondi also mentioned that, under Trump’s directive, the Department of Justice (DOJ) will begin seeking the death penalty for those convicted of violent crimes.

‘All of these horrible violent criminals that you’re hearing about around the country, they will face the death penalty federally within our country,’ Bondi said. ‘And the drug dealers need to get out of here, because we are coming after you. We’re going to have 94 great U.S. attorneys around this country, and everyone will be prosecuted to the fullest extent of the law.’

The topic of government fraud was mentioned throughout the meeting, with Musk claiming that he found $330 million worth of waste within the Small Business Administration (SBA).

‘[We found] a case of fraud and waste with the Small Business Administration, where they were handing out $330 million worth of loans to people under the age of 11,’ Musk said. ‘I think the youngest was a nine month year [sic] old who got a $100,000 loan.’

‘That’s a very precocious baby we’re talking about here,’ he joked.

Trump expressed appreciation to both Musk and the rest of the Cabinet for uncovering waste and fraud.

‘We’ve had many fraudulent contracts that were caught by the work that Elon and his people are doing,’ the president said. ‘And working with our people, it’s been brought to light. The fraud, not just waste and abuse, the fraud has been incredible.’

This post appeared first on FOX NEWS

Investors have closely watched Nvidia’s week-long GPU Technology Conference (GTC) for news and updates from the dominant maker of chips that power artificial intelligence applications.

The event comes at a pivotal time for Nvidia shares. After two years of monster gains, the stock is down 15% over the past month and 22% below the January all-time high.

As part of the event, CEO Jensen Huang took questions from analysts on topics ranging from demand for its advanced Blackwell chips to the impact of Trump administration tariffs. Here’s a breakdown of how Huang responded — and what analysts homed in on — during some of the most important questions:

Huang said he “underrepresented” demand in a slide that showed 3.6 million in estimated Blackwell shipments to the top four cloud service providers this year. While Huang acknowledged speculation regarding shrinking demand, he said the amount of computation needed for AI has “exploded” and that the four biggest cloud service clients remain “fully invested.”

Morgan Stanley analyst Joseph Moore noted that Huang’s commentary on Blackwell demand in data centers was the first-ever such disclosure.

“It was clear that the reason the company made the decision to give that data was to refocus the narrative on the strength of the demand profile, as they continue to field questions related to Open AI related spending shifting from 1 of the 4 to another of the 4, or the pressure of ASICs, which come from these 4 customers,” Moore wrote to clients, referring to application-specific integrated circuits.

Piper Sandler analyst Harsh Kumar said the slide was “only scratching the surface” on demand. Beyond the four largest customers, he said others are also likely “all in line looking to get their hands on as much compute as their budgets allow.”

Another takeaway for Moore was the growth in physical AI, which refers to the use of the technology to power machines’ actions in the real world as opposed to within software.

At previous GTCs, Moore said physical AI “felt a little bit like speculative fiction.” But this year, “we are now hearing developers wrestling with tangible problems in the physical realm.”

Truist analyst William Stein, meanwhile, described physical AI as something that’s “starting to materialize.” The next wave for physical AI centers around robotics, he said, and presents a potential $50 trillion market for Nvidia.

Stein highliughted Jensen’s demonstration of Isaac GR00T N1, a customizable foundation model for humanoid robots.

Several analysts highlighted Huang’s explanation of what tariffs mean for Nvidia’s business.

“Management noted they have been preparing for such scenarios and are beginning to manufacture more onshore,” D.A. Davidson analyst Gil Luria said. “It was mentioned that Nvidia is already utilizing [Taiwan Semiconductor’s’] Arizona fab where it is manufacturing production silicon.”

Bernstein analyst Stacy Rasgon said Huang’s answer made it seem like Nvidia’s push to relocate some manufacturing to the U.S. would limit the effect of higher tariffs.

Rasgon also noted that Huang brushed off concerns of a recession hurting customer spending. Huang argued that companies would first cut spending in the areas of their business that aren’t growing, Rasgon said.

This post appeared first on NBC NEWS

Embattled genetic testing company 23andMe, once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night.

The company’s CEO, Anne Wojcicki, has resigned from her role as chief executive effective immediately, though she will remain a member of the board. Joseph Selsavage, 23andMe’s chief financial and accounting officer, will serve as interim CEO, according to a filing with the U.S. Securities and Exchange Commission.

“We have had many successes but I equally take accountability for the challenges we have today,” Wojcicki wrote in a post on X early Monday morning. “There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering.”

23andMe declined to comment further on the filing.

Anne Wojcicki speaks at the South by Southwest festival in 2023. Jordan Vonderhaar / Bloomberg via Getty Images file

The former billionaire co-founded 23andMe in 2006, and the company rocketed into the mainstream because of its at-home DNA testing kits that gave customers insight into their family histories and genetic profiles. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company, which valued the company at around $3.5 billion at the time.

23andMe’s stock has mostly been in free fall in recent years as the company struggled to generate recurring revenue and stand up viable research and therapeutics businesses. As of Monday morning, the company has a market capitalization of around $25 million.

23andMe in Mountain View, Calif.Smith Collection / Getty Images

Last March, 23andMe’s independent directors formed a special committee to evaluate the company’s potential paths forward. Wojcicki submitted multiple proposals to take the company private, but all were rejected. The special committee “unanimously determined to reject” Wojcicki’s most recent proposal earlier this month.

If 23andMe’s plan to sell its assets through a Chapter 11 plan is approved by the court, the company will “actively solicit qualified bids” over a 45-day process. Wojcicki plans to pursue the company as an independent bidder, she said in her post on Monday.

23andMe has between $100 million and $500 million in estimated assets, as well as between $100 million and $500 million in estimated liabilities, according to the bankruptcy filing.

Beyond its financial woes, privacy concerns around 23andMe’s genetic database have swirled in recent years. In October 2023, hackers accessed the information of nearly 7 million customers. 

California Attorney General Rob Bonta on Friday issued a consumer alert urging residents to consider deleting their genetic data from 23andMe’s website.

23andMe said there will be no changes to the way that it stores, protects or manages customer data through the sale process, and it will continue operating business as usual.

“As I think about the future, I will continue to tirelessly advocate for customers to have choice and transparency with respect to their personal data, regardless of platform,” Wojcicki said.

This post appeared first on NBC NEWS

Bitcoin is more closely correlated to the Nasdaq than it is to gold most of the time, and investors could benefit from viewing it as another big tech stock, says Standard Chartered.

Bitcoin’s correlation with the Nasdaq is currently at about 0.5, after it approached 0.8 earlier this year, according to the bank. Meanwhile, its correlation with gold has been falling since January, touching zero at one point, and is now just above 0.2.

“Bitcoin trading is highly correlated to the Nasdaq over short time horizons,” Geoff Kendrick, Standard Chartered’s global head of digital assets research, said in a note Monday. “This Nasdaq correlation leads to the idea that bitcoin could be included in a basket of large tech stocks; if it were included, the implication would be more institutional buying as BTC would serve multiple purposes in investor portfolios.”

Bitcoin is frequently viewed as “digital gold” and a hedge against risks facing the traditional financial sector. Kendrick said he still sees the flagship cryptocurrency serving that purpose but that “in reality … the need for such hedges is very infrequent.”

Standard Chartered created a hypothetical index dubbed “Mag 7B,” in which it added bitcoin to the Magnificent 7 tech stocks — Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla — and removed Tesla.

“Mag 7B has outperformed Mag 7 by about 5% over the period since December 2017,” he said. “On a calendar year basis, Mag 7B outperformed Mag 7 in five out of seven years, albeit by a very small margin in 2022. Mag 7B’s relative returns are decent on both an absolute basis (averaging around 1% a year above Mag 7) and a calendar-year basis.”

Kendrick said bitcoin has been trading in a similar volatility-adjusted fashion to Nvidia since President Trump’s inauguration. They’re down 16% and 12%, respectively, since Jan. 20. Meanwhile, Tesla, which has lost 36% in the same period, is trading more like ether (down 38% since Jan. 20).

“Investors can view bitcoin as both a hedge against [traditional finance] and as part of their tech allocation,” Kendrick said. “Indeed, as BTC’s role in global investor portfolios becomes established, we think that having more than one use will bring fresh capital inflows to the asset. This is particularly true as bitcoin investment becomes more institutionalized.”

Bitcoin is down about 5% for the year after Trump’s tariff threats in recent weeks have brought new volatility to the market. Investors are expecting relief in the second quarter, however, given bitcoin’s two of its most persistent correlations: its positive correlation with money supply growth, also known as M2, and its negative correlation with the U.S. dollar index, or DXY.

—CNBC’s Michael Bloom contributed reporting.

This post appeared first on NBC NEWS