Finance

U.S. Climate Rollback Under Trump Puts Poor Nations' Funds at Risk

President Donald Trump withdrew the US from a critical climate agreement, jeopardizing billions of dollars in financial support to developing nations.

Trump’s decision to abandon the US International Climate Finance Plan and exit the Paris Agreement has halted vital funding meant to assist developing countries in adapting to a warming planet and reducing carbon emissions. It also threatens to undermine the global commitment made at COP29 in November to increase annual climate finance to $300 billion by 2035.

Four years ago, former President Joe Biden introduced the US climate finance plan, signaling a return to international funding that had been reduced or cut during Trump’s first term. In 2024, the US contributed approximately $11 billion to climate finance, according to the Biden administration. While this is one of the largest contributions from any country, much of it consists of costly loans rather than grants.

TECH

The Fast-Food Approach to Bay Area Tech Firms Dumping High-End Gear

The Bay Area’s tech industry is infamous for its cycles of boom and bust. Startups rapidly scale up, burning through cash and accumulating lavish perks and office equipment. Then, they crash, often left with nothing but private jets or massive 3D printers to cushion the fall. Carroll is one of the unsung figures in the tech world—an auctioneer who steps in to sell off the high-tech castoffs of failing companies. In 2010, he founded Silicon Valley Disposition, an auction firm specializing in unloading the surplus and remnants of tech firms. Over the past few years, he’s seen a “barrage” of items as more companies shut down, including a balloon launch station from the failed Google Loon project, an auction of 20,000 e-scooters, and even helping a startup sell off a couple of planes.

CRYPTO

Bitcoin Climbs Past $106,000 as Trump Reassumes Office

Cryptocurrencies rose on Tuesday as investor optimism surged following President Donald Trump’s first full day back in office.

Bitcoin was up more than 2%, reaching $106,201.70, according to Coin Metrics. The wider crypto market, tracked by the CoinDesk 20 index, gained 1.6%.

Meanwhile, "Official Trump," a token representing the new U.S. leader launched last week, trimmed its losses to 2.5% after a steep drop of over 20% earlier, according to CoinGecko.

In a related development, the Securities and Exchange Commission announced the creation of a “crypto task force” led by acting Chair Mark Uyeda, aimed at developing a clear and comprehensive regulatory framework for crypto assets.

Crypto investors are optimistic about Trump’s return to the White House, viewing it as a positive shift for the industry. The president has promised to introduce policies favorable to cryptocurrencies, including a supportive regulatory environment and a federal bitcoin reserve.