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NetHappenings News Highlights Monday Morning 3/23/26
The stock market didn’t crash.
The day before the 20th anniversary of the first post on Twitter,
Elon Musk was found liable of misleading investors before he bought the company in 2022 for $44 billion.
Tweeting does have consequences, apparently.
https://www.nytimes.com/2026/03/20/technology/elon-musk-twitter-shareholders-verdict.html
When Donald Trump was first sworn into office in January of 2017, the national debt stood at $19.9 trillion dollars. It is now over $39 trillion.
We are less than ten days from the ten-year anniversary of Trump’s campaign promise to eliminate the national debt within eight years. It has instead roughly doubled.
Gold is down 16%; Bitcoin is up 11%. People fleeing the Middle East are liquidating their gold as it’s too heavy and too hard to move. Instead they’re buying Bitcoin.
Bitcoin to hit $150K by the end of 2026, per Bernstein.
@JoshuaBarzon
AI is telling me that Genesis Chapter 1… from the Bible (KJV even!) … is “100% AI generated text.” Let that sink in. How “intelligent” is “AI”? The only things that’s inevitable about AI – is us all laughing at people who say the emergence of superintelligence from chatbots is inevitable.
100% AI GPT*
“In the beginning God created the
heaven and the earth. And the earth was
without form, and void; and darkness
was upon the face of the deep. And the
Spirit of God moved upon the face of the
waters. And God said, Let there be light:
and there was light. And God saw the
light, that it was good: and God divided
the light from the darkness. And God
called the light Day, and the darkness he
called Night. And the evening and the
morning were the first day.”
Trump, Howard Lutnick, Cantor Fitzgerald, Tether
As Lutnick Sold Cantor to His Children, Tether Gave Them a Loan
Representatives for the financial services firm and the US Commerce secretary’s family declined to reveal the amount. An ethics expert said the loan may be ‘another favor his family owes Tether.’
“Dynasty Trust A, which benefits all four children (of @howardlutnick), borrowed an undisclosed sum from @Tether
Dynasty Trust A’s assets include more than half the equity in Cantor Fitzgerald.
An ethics expert said the loan may be ‘another favor his family owes Tether.’”
“if Tether’s loan helped @howardlutnick complete a transaction that ‘will ultimately benefit both him and his children, it’s yet another favor his family owes @Tether. And yet another reason for concern that Howard Lutnick may use his government power to benefit Tether, and his children, rather than the public.'” – in Bloomberg GIFT LINK
@CorySwan
It appears that @Tether has a lien on all @howardlutnick family assets, including their majority stake in Cantor.
And apparently Tether lent the Lutnicks money at the same time Howard was going to bat for them in DC to change the Genius legislation, clearing the way for Tether to have access to the US banking system despite being offshore with no audit.
@AaronRDay https://x.com/AaronRDay/status/2035373617320771597
GENIUS ACT WAS WRITTEN FOR ONE MAN AND HE VISITED EPSTEIN’S ISLAND
Howard Lutnick is Trump’s Commerce Secretary. He custodies Tether’s $122 billion in Treasuries. He holds a ~5% stake potentially worth $25 billion. And he just got a law passed that makes all of it legal.
1/ Lutnick visited Epstein’s Caribbean island in December 2012 with his family. Days later, he and Epstein co-signed investment contracts for the same company through shell entities. He lied about it until the files dropped in February 2026
2/ Cantor Fitzgerald custodies 99% of Tether’s Treasury holdings. Tether makes $10 billion a year in profit from the interest. Lutnick’s firm earns tens of millions in fees. His convertible debt stake could be worth $25 billion at Tether’s target valuation
3/ The GENIUS Act requires all stablecoins to be backed by Treasuries. Tether immediately launched a new compliant coin, USAt, with Cantor as reserve custodian and preferred dealer. A White House crypto advisor left government to become its CEO
4/ Elizabeth Warren called Tether “outlaws’ favorite cryptocurrency” during confirmation. Cited its use by North Korean weapons programs, Mexican cartels, Russian arms companies, and fentanyl manufacturers. Lutnick was confirmed 51-45 anyway
5/ Foreign stablecoin issuers like Tether don’t face the same audit requirements as US issuers under GENIUS. Senator Reed tried to close the loophole. Republicans killed the amendment. The man who profits most from the loophole is in the Cabinet
Epstein’s neighbor. Epstein’s business partner. Epstein’s island guest. Now he controls the infrastructure for $184 billion in digital dollars and wrote himself the law to keep it.
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