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This audio is auto-generated. Please let us know if you have feedback. Dive Brief: A joint venture of contractors and designers have marked a key modular milestone on the $855 million Dallas Fort Worth International Airport’s Terminal F and Skyline expansion in Texas, according to a news release from New York City-based Turner Construction, part of the JV. The JV placed six prefabricated modules over 12 days — the largest of which measured 278 feet long by 136 feet wide and weighed 3,320 tons — with the first move taking place nine months after the project’s groundbreaking, according to the news release.  The construction team placed the modules via a highly choreographed process — the pieces were carefully moved more than a half mile down one of DFW’s taxiways using Mammoet Self-Propelled Modular Transporters, large machines that can act as a platform on wheels, according to Mammoet’s website. Dive Insight: The design-build team for the Terminal F concourse is Innovation Next+, a JV made up of:  Chicago-based Archer Western Construction.  New York City-headquartered Turner. Atlanta-based H. J. Russell & Co.  Dallas-headquartered Phillips May Corp. and Carcon Industries.  PGAL, Gensler and Muller2 are the design team on the project, according to the news release. The project is just one part of the expansion, which recently grew to $4 billion in total spending. The JV also is building a new Skylink expansion, which will connect terminals at the airport and allow customers to travel between them. When complete, the Terminal F expansion will feature a double-loaded concourse with 15 gates and modernized customer amenities, while significantly increasing passenger capacity and improving operational efficiency, according to the news release. “Innovation Next+ is delivering more than a new terminal, we are demonstrating how major aviation projects can be advanced through collaboration and ingenuity,” said Michael Whelan, president of Archer Western’s building division and leading member of Innovation Next+. “Modular and prefabricated construction are proven strategies we apply on many projects with customers who share our commitment to innovation.” Read More

US President Donald Trump suggested there are limits in his campaign to thwart wind power, even as his administration moves to halt the installation of turbines in farmland and coastal waters.  “We’re not allowing any windmills to go up unless there’s a legal situation where somebody committed to it a long time ago,” Trump said Tuesday during a White House meeting with cabinet officials.  Trump’s comment underscores a potential distinction in the administration’s approach to federally permitted wind projects, with more scrutiny — and risk — heaped on ventures that have relatively recent authorizations.  Trump has a deep, long-running dislike of wind farms he’s derided as ugly, bird-killing monstrosities. But in recent weeks his administration has moved more aggressively to restrict their construction, including by blocking projects from obtaining rural development business loans, halting construction of a nearly completed Orsted A/S venture near Rhode Island and moving to invalidate the permit for another planned project near Maryland.  The administration has focused scrutiny on offshore wind projects where it has unique power; the ventures are planned in federal waters managed by the Interior Department and depend on a slew of US government authorizations. Under former President Joe Biden, the US approved 11 of them.  Trump reiterated his opposition to wind power Tuesday while scoffing at solar arrays he described as “big ugly patches of black plastic that comes from China” and are marring farmland. He didn’t elaborate on what kinds of government wind commitments would be too old to warrant changes now.  But the Trump administration in May lifted an earlier stop-work order that for weeks suspended construction of the Equinor ASA’s Empire Wind 1 project near New York. The Interior Department issued a similar stop-work order Friday to the Orsted A/S Revolution Wind project off Rhode Island, prompting New England’s grid operator to warn the halt threatens electric reliability and could boost consumer costs in the region. While the stop-work orders focus on ongoing construction, the Trump administration’s separate planned move against a US Wind project near Maryland poses a much bigger threat to the $6 billion venture because it would invalidate a key federal permit.  Interior Secretary Doug Burgum previously had said legal considerations make it difficult to stop some planned wind projects. And he’s suggested a bifurcated approach to the government’s review, with existing projects treated differently than those that are proposed.  ©2025 Bloomberg L.P. This article was generated from an automated news agency feed without modifications to text. Read More

(Bloomberg) — A Wisconsin state judge must face criminal charges of interfering with US immigration authorities after a federal judge rejected her claim of immunity. The decision on Tuesday means the US Justice Department can move forward with the prosecution of Milwaukee County Judge Hannah Dugan. Her indictment was part of a broader pushback by US officials against so-called sanctuary cities and local authorities perceived as standing in the way of President Donald Trump’s immigration crackdown. Dugan, who has denied wrongdoing, can appeal the decision by US District Judge Lynn Adelman. The ruling didn’t address the merits of the underlying criminal case. Adelman adopted the recommendation of a US magistrate judge who rebuffed Dugan’s claim of immunity from being prosecuted for actions she took as a judge and proposed the case go forward. Dugan’s lawyers and a Justice Department spokesperson did not immediately respond to requests for comment. Dugan was arrested in May and accused of trying to prevent members of a US Immigration and Customs Enforcement task force from arresting a Mexican immigrant, Eduardo Flores-Ruiz, who had appeared in her courtroom. The two-count indictment alleges Dugan directed federal officials away from Flores-Ruiz’s location inside the Milwaukee courthouse and then allowed him and his lawyer to leave through a nonpublic door.  Adelman rejected Dugan’s arguments for immunity that shields judges from being prosecuted for actions they take related to their official duties. The judge also found that the government plausibly argued that Dugan’s alleged actions fell outside her judicial role, meaning she wouldn’t be covered even if there was some limited judicial immunity. “There is no basis for granting immunity simply because some of the allegations in the indictment describe conduct that could be considered ‘part of a judge’s job,’” Adelman wrote. Flores-Ruiz was arrested outside the courthouse. He pleaded guilty in June to illegally being in the US and agreed to be deported, according to court records. Dugan’s lawyers also argued that the indictment violated the Constitution’s division of power between the federal government and states. Her lawyers cited the US Supreme Court’s ruling last year that Trump — and all US presidents — have sweeping immunity from prosecution for official acts. “Judges are empowered to maintain control over their courtrooms specifically and the courthouse generally,” Dugan’s lawyers wrote. The US attorney’s office in Milwaukee, which is handling the prosecution, countered that Dugan’s lawyers were pressing a “manufactured version” of judicial immunity based on a “factually unsupported and inaccurate storyline that the federal government somehow tried to ‘commandeer’ or ‘control’ a state courtroom.”  In early July, US Magistrate Judge Nancy Joseph urged Adelman to reject the immunity claim, saying the indictment wasn’t related to Dugan’s legal opinions or courtroom management, but separate, obstructive acts. Joseph rebuffed Dugan’s argument that a judge’s motive, especially whether they were acting for “self-enrichment,” mattered. Federal magistrate judges are appointed by US district judges for eight-year terms. They can preside over certain cases and make binding rulings, but also serve a support role, including preparing reports with recommendations for district judges to consider on disputed issues in a case. A trial was originally scheduled to begin July 21 but was indefinitely postponed amid the immunity fight. The case is USA v. Dugan, 25-cr-89, US District Court, Eastern District of Wisconsin (Milwaukee). (Updated with details from the opinion and background.) More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. Read More

Google joined in the celebrations as pop icon Taylor Swift and NFL star Travis Kelce announced their engagement, lighting up its search page with a playful animation. Fans searching for “Taylor Swift” on Google were greeted with an interactive visual effect. Social media users quickly noticed the surprise, sharing clips of the celebratory feature online. The Grammy-winning singer and Kansas City Chiefs tight end confirmed their engagement on Tuesday through social media posts, sending fans into a frenzy, and sparking an outpouring of congratulations from celebrities and fans alike. Taylor Swift and Travis Kelce announce engagement in joint Instagram post Pop superstar Taylor Swift and NFL star Travis Kelce are officially engaged, the couple announced on Tuesday in a joint Instagram post that quickly set the internet ablaze. The post featured five photos capturing the newly engaged pair, accompanied by the caption: “Your English teacher and your gym teacher are getting married,” followed by a dynamite emoji. For millions of fans — especially Swift’s devoted Swifties — the announcement marked the culmination of a two-year romance that has captivated audiences around the world. Kelce, already a celebrated tight end for the Kansas City Chiefs and a three-time Super Bowl champion, was propelled into a new realm of fame through his relationship with Swift. Their courtship was played out on two grand stages: Swift was often spotted cheering at Chiefs games, while Kelce was seen at her record-breaking Eras Tour, dancing among thousands of fans. NFL joins in congratulations Swift and Kelce’s engagement sparked a social media frenzy, with their joint Instagram post amassing more than 1.8 million likes in just 20 minutes. The NFL also extended congratulations to the couple, whose romance has captured global attention. Swift and Kelce, both 35, began dating in 2023 after the pop superstar performed at Arrowhead Stadium, home of Kelce’s Kansas City Chiefs. Kelce later revealed on his New Heights podcast that he had been disappointed not to meet her at the concert. The relationship soon became highly visible: Swift was a regular presence at Chiefs games starting in September 2023, while Kelce supported her at stops on her record-breaking Eras Tour, which grossed more than $2 billion worldwide. Details about the proposal remain under wraps, with neither Swift’s representatives nor Kelce’s camp disclosing when or where it happened. Swift, a 14-time Grammy winner and the only artist with four Album of the Year trophies, recently announced her next studio project, The Life of a Showgirl. She teased the October 3 release on Kelce’s New Heights podcast, which he co-hosts with his brother, Jason. Read More

For years, BNB has stood out as one of the biggest wealth-building tokens in the digital asset space, but history shows that new projects often outperform established giants. Today, investors scanning crypto charts for the next big move are beginning to notice Mutuum Finance (MUTM), a presale token with massive momentum, unique DeFi features, and projections pointing toward a 1700% upside from current entry levels. Mutuum Finance (MUTM) at the Center of DeFi’s Next Chapter Mutuum Finance (MUTM) is building a decentralized, non-custodial liquidity protocol that directly addresses one of the strongest use cases in DeFi: lending and borrowing. What sets it apart is a dual model that empowers both peer-to-contract (P2C) and peer-to-peer (P2P) transactions. Lenders will deposit assets into liquidity pools and automatically earn interest, while borrowers gain access to liquidity without having to sell their holdings. On the P2P side, terms are negotiated directly between parties, giving users maximum flexibility. Unlike many presale projects that only promise future concepts, Mutuum Finance (MUTM) is preparing for its beta launch to go live at the same time as its token listing. That means from the very first day, users will be able to borrow, lend, and stake within a live, functioning environment. The immediate utility sets a foundation for sustained demand, creating a powerful contrast with projects that launch without tangible products. Another standout feature is the integration with Layer-2 scaling. By moving away from expensive and slower Layer-1 blockchains, Mutuum Finance (MUTM) ensures lower fees and faster processing speeds for its users. This will make the platform attractive to both small lenders seeking efficiency and larger players who need scalable solutions. Presale Momentum and the Road to Global Exposure The presale is where investors are finding their biggest opportunity. Mutuum Finance (MUTM) is currently in Phase 6, priced at just $0.035. Already, more than $14.9 million has been raised, over 15,700 holders have joined, and 25% of the tokens in this round have been sold. With Phase 7 set to raise the price by 15%, urgency is high for investors who recognize that this is one of the last chances to enter at such a discounted rate. The token’s trajectory looks especially attractive when compared to other breakout stories in the past. Mutuum Finance (MUTM) has a listing price set at $0.06, and market projections are pointing toward $0.21 as an initial milestone—representing a 600% return. For those with vision, the second target stands at $5, representing a 1700% upside from today’s entry point. A $2,000 position at $0.035 would be worth $12,000 when MUTM hits $0.21, and would expand to $285,000 at the $5 target. That kind of asymmetric upside is what investors search for when studying crypto predictions, and it makes MUTM a standout in today’s market. Beyond presale growth, Mutuum Finance (MUTM) is already lining up the catalysts that often push tokens into the spotlight. The project is expected to list on major exchanges including Binance, Coinbase, KuCoin, Kraken, and MEXC. Each of these listings will expand accessibility and liquidity, exposing MUTM to a global investor base. Trust is also critical, especially in an industry where a crypto crash can wipe out poorly structured projects. To that end, Mutuum Finance (MUTM) has already undergone a CertiK audit, scoring 95 on Token Scan and 78 on Skynet. These ratings place it among the most reliable presale projects in the space, giving investors reassurance that the protocol is backed by verified, secure smart contracts. The platform’s long-term design adds another layer of confidence. A buy-and-distribute mechanism will direct protocol revenue into open-market buybacks of MUTM, which are then distributed to stakers. This means every new wave of lending and borrowing activity creates fresh buy pressure, continuously driving demand while rewarding committed participants. Final Words Looking ahead, the introduction of Mutuum Finance (MUTM)’s decentralized stablecoin will also become a critical demand driver. Built to hold its value at $1 and only minted when loans are taken, the stablecoin ensures that platform activity translates into consistent utility and stability for users, making the overall ecosystem even more attractive. For investors analyzing crypto prices and searching for projects that combine utility with explosive upside, Mutuum Finance (MUTM) is delivering a rare blend of both. The parallels to Ethereum’s early stages are impossible to ignore: low presale pricing, a clear product, and global adoption on the horizon. With the presale already 25% through Phase 6, the window is closing fast. By the time the next phase begins, entry costs will climb, and once listings go live, the days of $0.035 tokens will be gone forever. For those searching for the best buy before BNB’s next run, Mutuum Finance (MUTM) looks primed to become the breakout story of 2025. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://www.mutuum.com Linktree: https://linktr.ee/mutuumfinance Disclaimer and Risk Warning The content featured on Coinpedia’s press release page is provided for informational purposes only. Coinpedia does not endorse, verify, or take responsibility for the accuracy, completeness, or reliability of any press releases or associated materials. Any views, opinions, or statements expressed in these press releases are those of the respective issuers and do not reflect the opinions or positions of Coinpedia. Coinpedia is not liable for any content, products, services, or actions mentioned in the press releases. Readers should independently verify the information before taking any actions related to the subject matter of the releases. We’d Love to Hear Your Thoughts on This Article! Was this writing helpful? Read More

Bitcoin Penguins has emerged as August’s standout presale, with funding closing August 27th and listing confirmed for September 2nd.  The project has raised an incredible $4.5m during a period when Bitcoin’s market share dropped to 58%—a decline that historically signals capital flowing into alt coins, with small-cap projects like Bitcoin Penguins set to benefit.  What sets this project apart is its audacious mission: to purchase Antarctica for the conservation of penguins.  The concept sounds absurd at first glance, but it serves a crucial purpose in an oversaturated meme coin market. Where most projects offer identical tokenomics wrapped in different animal themes, Bitcoin Penguins presents a narrative so bold it cuts through the noise entirely. Most importantly, it’s working. With the presale ending tomorrow there’s not long left to get involved at basement prices. Today’s basement $0.00198 is ready to rocket for those smart enough to get involved ahead of the project’s forthcoming announcement. Altcoin season conditions look strong The crypto market’s dynamics are favoring new cryptocurrency launches as Bitcoin’s dominance contracts from its previous high.   Bitcoin dominance fell to 59% during August 2025, down from 66% earlier this year. Such contractions typically precede significant capital reallocation toward higher-risk alternatives, as investors seek to enhance their returns.  The concept is simple in essence. People rotate their profits from Bitcoin into projects with greater upside—including promising presales such as Bitcoin Penguins. It’s a bold move but the payoffs make this an interesting bet for traders looking for rapid gains. Above: Altcoin season is firing up, hitting a peak north of 75 in early August. Source: CMC.  2025 has already seen some significant successes, such as FARTCOIN, which achieved a $1 billion market cap within months of its launch.  Most relevant for Bitcoin Penguins, the social media-born Pudgy Penguins launched their own token based on an NFT collection. It’s great to see a new animal meme seize the limelight, leaving the door open for Bitcoin Penguins to join the flock.  Pudgy Penguins proved penguin power works Pudgy Penguins blazed the trail for penguin memes in 2024-2025, transforming from a struggling NFT project into a mainstream success story that now includes retail toys in Walmart and Target stores worldwide. The PENGU token achieved 580% appreciation over 90 days and hit peaks around $0.057 before stabilizing, proving penguin-themed projects have serious staying power. Investors who bought at its April 2025 low of $0.003715 saw returns of nearly 1000% as the token recovered to over $0.04. Even during the broader NFT market’s 63% decline in Q1 2025, Pudgy Penguins defied the trend with 13% sales growth, reaching a total of $72 million in sales. The success validates the penguin narrative and creates a clear runway for Bitcoin Penguins to capture similar momentum. Weekly Bitcoin giveaways are driving interest Bitcoin Penguins has been giving away an entire Bitcoin every week.  The first winner had only $17.50 worth of tokens, so that story went viral, and the price surged.  Since the latest Bitcoin went unclaimed, the team is rolling it over, making it an incredible two Bitcoins for the next lucky winner. Big influencers are busy jumping in and talking about the project, which is excellent news for investors. Watch : https://www.youtube.com/watch?v=zGBTilOc_UA Time is now running out. History shows Q4 is when people pile into the story-driven projects, and Bitcoin Penguins has both the penguin meme appeal and actual community backing. Plus, the Antarctica mission gives it a hook nobody else has. Presale wraps up August 27th—so only 1 day left. After that, today’s $0.00198 will be history. Live trading begins, and whatever happens happens. But with alt season heating up and influencers already buying in, things are looking great for early buyers. Check out the Bitcoin Penguins website before August 27th to get involved.  Disclaimer and Risk Warning The content featured on Coinpedia’s press release page is provided for informational purposes only. Coinpedia does not endorse, verify, or take responsibility for the accuracy, completeness, or reliability of any press releases or associated materials. Any views, opinions, or statements expressed in these press releases are those of the respective issuers and do not reflect the opinions or positions of Coinpedia. Coinpedia is not liable for any content, products, services, or actions mentioned in the press releases. Readers should independently verify the information before taking any actions related to the subject matter of the releases. We’d Love to Hear Your Thoughts on This Article! Was this writing helpful? Read More

Solana is increasingly at the center of discussions around the future of stablecoins. There is a growing debate on whether this fast, high-capacity blockchain could rival Ethereum as interest continues to grow in Solana. Let us take a closer look at what the experts got to say and why Solana is drawing so much attention in the crypto space. Solana – The Future Of Stablecoins Greg King, CEO of REX Financial, thinks Solana is where the future of stablecoins is headed — even more than Ethereum.  “Frankly when I saw the big debate about stable coins all being built on ETH I was like this is a huge oversight. I think Solana is the story for the future as far as stablecoins go,” he said, in an interview with Bloomberg TV. He notes that Solana’s speed and high processing capacity make it particularly well-suited for stablecoins. “A lot of people think that Solana is the up-and-comer that’s going to sort of dethrone Ethereum,” he added. He also said it’s a very controversial debate gaining both supporters and critics. Ethereum Leads, Solana Thrives in DeFi According to data from Defilama, the stablecoin market cap for Ethereum is currently at $143.8 billion, while the total stablecoin market cap for Solana is just at $11.8 billion.  As per a report from Messari, Ethereum is seeing growing institutional adoption, leading in tokenized assets and DEX trading volumes. On the other side, Solana has also surged in on-chain activity with daily active addresses surpassing 2 million and DEX volumes sometimes nearly double Ethereum’s. Key developments on Solana include stablecoin settlements, cross-chain swaps, and new DeFi protocols. Solana is showing strong momentum across multiple fronts. In the past 24 hours, it surpassed Ethereum and other blockchains in perpetual contract trading volume. Solana-based investment products, including ETFs, ETPs, and funds, received $12 million in inflows last week, marking 11 consecutive weeks of gains. Solana Poised for ETF Growth Greg sees Solana as a top-five coin with strong ETF potential. Its speed, high staking rewards, and position as an Ethereum competitor make it an appealing choice for investors. He also said that crypto ETF issuers need to be selective about which coins they include, as crypto gets “pretty sketchy” below the top 20. Notably, nine firms including Bitwise, Grayscale, VanEck, 21Shares, Canary Capital have filed for a spot Solana ETF. Bloomberg analysts project a 95% chance of approval for Solana ETFs. In early July, REX launched the REX-Osprey Solana Staking ETF, which gives investors direct exposure to Solana along with staking rewards, making it the first U.S. crypto staking ETF. We’d Love to Hear Your Thoughts on This Article! Was this writing helpful? Read More

XRP has broken back above $3; it’s one of the most established digital assets in the market. Analysts say it’s reversed from a falling wedge, with more upside to come. But despite the move, XRP’s growth is limited compared to presale tokens. Among those, Ozak AI ($OZ) is an early-stage project with 200x potential and priced at just $0.005. XRP at $3, But Limited Growth Ahead Market data showed XRP recently trading in the $2.92–$3.05 range. Resistances are set at around $3.10, whereas the supports will be around $2.90, as analyzed technically. If momentum builds, XRP could edge higher toward $3.30, but many traders note that the asset has already retraced sharply from earlier highs this year. While XRP’s recovery confirms market resilience, its scope for exponential gains appears modest. That has shifted attention toward Ozak AI, a presale token that is still at the earliest stages of valuation. Youtube embed: Next 500X AI Altcoin Ozak AI is described as a platform delivering predictive data analytics through artificial intelligence integrated with blockchain infrastructure. Its system combines: Ozak Stream Network (OSN) for low-latency data processing DePIN for secure and distributed data handling Ozak Data Vaults for reliable storage Custom Prediction Agents for user-designed AI models These tools allow traders, institutions, and businesses to act on real-time insights without needing advanced coding skills. Industry sources note that the project’s utility places it well beyond speculative use cases. One of the key developments is the Ozak AI x SINT joint venture that combines Ozak AI with the one-click AI upgrade ability offered by SINT. Through autonomous agents, cross-chain bridges, and voice-enabled interfaces, this partnership allows instant execution of Ozak AI’s market signals inside smart systems. Observers see this as an important step in making AI-driven predictions immediately actionable. Presale Details and Tokenomics The presale is live in Phase 5 at $0.005 per token, with over 819 million tokens sold and $2.39 million raised. The following price raise is booked to come at $0.012 and the goal price is at $1. Entry requires a minimum contribution of $100, payable in ETH, USDT, or USDC. Token supply is capped at 10 billion $OZ: 30% for presale, 30% for ecosystem and community, 20% for reserves, 10% for the team and 10% for liquidity and listings. This is to align with adoption, sustainability and long-term development. At the current price, Ozak AI is one of the biggest risks to reward in the presale market.  Conclusion XRP at $3 is stability in established coins, but the upside is capped. Ozak AI presale at 0.005 with AI infrastructure, SINT integration and 1 target is a rare opportunity towards exponential growth. For 200x potential, Ozak AI is the one to watch. For more information about Ozak AI, visit the links below: Website: https://ozak.ai/  Twitter/X: https://x.com/OzakAGI  Telegram: https://t.me/OzakAGI  Disclaimer and Risk Warning The content on Coinpedia’s sponsored page is provided by third parties and is intended for promotional purposes. Coinpedia does not endorse, guarantee, or take responsibility for the accuracy, quality, or effectiveness of any services, products, or information presented in these sponsored materials. The inclusion of sponsored content does not imply Coinpedia’s approval or support. Readers are advised to exercise due diligence and conduct their research before making decisions or taking action based on the information presented in sponsored content. We’d Love to Hear Your Thoughts on This Article! Was this writing helpful? Read More

The crypto market has turned red, leaving many investors asking what’s next and which altcoins could be worth buying. While Bitcoin struggles to break past the $112K resistance, popular trader Crypto Banter believes the spotlight may soon shift toward altcoins. In his latest update, Banter highlighted a handful of coins that he thinks are preparing for big moves once Bitcoin makes its breakout. Cardano and Solana: Testing Key Levels Cardano (ADA) has returned to the $0.86 zone, a level that has acted as both momentum and horizontal support. Analysts suggest that holding this range could spark a new uptrend once Bitcoin strengthens. Solana (SOL), meanwhile, has shown resilience between $175 and $182, where buyers have been consistently stepping in. If momentum builds, experts see a possible path toward $300 in the coming months. Dogecoin, Injective, and SEI: Undervalued Opportunities Banter also spotlighted Dogecoin (DOGE), which is currently trading in a wedge formation. He believes a breakout here could trigger a parabolic surge to $0.24, driven by community excitement. Injective (INJ) is another token on his radar, sitting close to a key trendline that could push it back toward $13. As for SEI, Banter highlighted its breakout from a long bear market range. With $0.29 now acting as support, he expects a potential rally toward $0.75. AVAX, Chainlink, and Gaming Tokens on the Rise In Banter’s view, Avalanche (AVAX) is another strong contender, trading at trend support with room to recover above $28. Meanwhile, Chainlink (LINK) also stands out, with Banter calling attention to its strong support near $21 and a long-term target of $60. For the gaming sector, Banter is especially bullish on Beam (BEAM), describing its setup as a “bull flag” that could deliver 200–300% gains, possibly lifting it toward $2.60. We’d Love to Hear Your Thoughts on This Article! Was this writing helpful? Read More

Up until now, the U.S. has mostly kept its hands free of taking direct stakes in privately-run companies. Now, it’s the largest shareholder and champion of an ailing chipmaker. On Friday, Intel announced an agreement with the U.S. government that allows Washington to take a 10% stake in the company’s once-formidable business. The $8.9 billion sum from the Trump administration renders the U.S. the largest stakeholder in Intel. However, the federal government is a passive stakeholder, meaning it has no governance rights, such as a seat on the company’s board of directors. Now, the U.S., under President Donald Trump, joins China in its promotion of “national champions,” multinational companies in strategic sectors that advance their government’s national interests. The Semiconductor Manufacturing International Corporation (SMIC) is viewed as China’s advanced chip-making champion. This type of agreement is common throughout Europe, too. “Once the U.S. government has an active stake in the success or failure of a company, it’s pretty hard to argue that it isn’t a ‘national champion,’” said Scott Lincicome, an economics and trade expert at the libertarian-leaning Cato Institute. “I don’t really think there’s any way to say it’s not a national champion now, much like SMIC.” In China and European nations, free markets intermingle with the state to produce differing variations of state-managed capitalism. Government intervention in the private sector is more frequent in those environments. Some analysts view the Intel stake as a big, risky gamble for the U.S. “The state has already put down some money, and the tendency is to give it more support,” said Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics. “[It’s] very, very difficult for countries to walk away from failed projects. Sometimes they do, but it takes a lot of failure.” National champions of industry are part of the landscape in business. Brazil has long had a direct stake with veto power in Embraer, a jetmaker that’s the third-largest producer of commercial aircraft globally. The U.K. has a so-called golden share that hands it similar managerial rights in defense company BAE Systems. Earlier this summer, the U.S. government locked in a golden share in Philadelphia-based U.S. Steel. Trump has felt at ease widening government authority into the private sector throughout his second term. He initially demanded that Intel fire its CEO, Lip Bu-Tan, over his past ties to the Chinese military. Historically, the U.S. government had tended to eschew outright intervention in the economy, except in special cases of enormous peril — such as when it took stakes in automakers and large banks in the 2008 financial crisis. Washington has had a mixed record on promoting national champions. Bill Baer, a visiting fellow in governance studies at the Brookings Institution, cited the collapse of a past version of AT&T. It once operated as a monopoly with the blessing of the U.S. government in the 20th century because it provided a universal service. However, the company was opened up to increased competition, and it lost its edge. AT&T was broken up four decades ago into local service providers and soon bought out by a competitor in a slimmed-down form. “AT&T basically did not survive in its present form,” Baer said. “It was not prepared to compete with companies based in the U.S. and based outside the U.S.. It got bought up by one of the local Bell operating companies.” Intel has had a downward trajectory for the past two decades. Once, it was the top supplier for domestic chips that powered U.S. computers at the start of the millennium. But a series of corporate missteps caused the company to miss out on the smartphone and later the AI revolution. Intel’s stock has shed close to half of its value since 2020, and rivals such as Nvidia are at the forefront of AI chipmaking. The chipmaker has also had to grapple with Trump’s brand of capitalism and agreed to hand a portion of its revenue in China to the U.S. government. Still, other experts argue that the U.S. should be able to take stakes in certain companies if there’s a clear objective behind it that benefits the U.S. and taxpayers. “I think there’s nothing inherently oppositional to the government owning stakes in a company,” Alex Jacquez, a chief policy and advocacy at the left-leaning Groundwork Collaborative and former White House aide to President Joe Biden. “I’m not sure the government has articulated why this would make things better for Intel. And so I’m still kind of waiting for the strategic rationale behind it.” The Intel arrangement might indeed be duplicated for other U.S. companies, particularly those that accepted federal subsidies or grant money. “I want to try to get as much as I can,” Trump said Monday in the Oval Office. “I hope I’m gonna have many more cases like it.” White House economic advisor Kevin Hassett said earlier in the day that it was “absolutely right” that the U.S. government could follow up with other deals. 📬 Sign up for the Daily Brief Read More