‘Really really dumb’: Mark Cuban trashes GOP’s latest Obamacare replacement idea

Billionaire financier Mark Cuban has no kind words to say about Republicans’ newly circulated idea for how they could replace the Affordable Care Act. The plan, which started being circulated by President Donald Trump and his allies in Congress in the final days of the federal government shutdown as Democrats demanded an extension to ACA subsidies expiring for millions of people, was to take the money spent on subsidies and send it directly to American taxpayers to sock away in health savings accounts, or HSAs, to pay for treatment directly. But Cuban, who has himself pushed a drug sales company to try to disrupt the health care industry, panned the whole thing in a lengthy post to X on Friday. “This is dumb. Really dumb. Really Really Dumb,” wrote Cuban, who has clashed with Trump in the past. “Why? Because when you give it to Ins Carriers under the ACA, they have to spend at least 85pct of it on care for plan holders. When sent to people’s HSAs, there is no assurance that the money will be spent on healthcare costs at all. A recipient can save the money and take it out when they turn 65. MORE LIKELY, people will get that HSA cash, immediately take it out, pay the 20 pct penalty and buy whatever they want,” Cuban continued. “So your tax dollars could be throwing parties! Does this mean I like the subsidies going to the big insurance carriers? No,” he added. “It means there are better ways to do this. Whatever we do, taxpayer money HAS TO GO DIRECTLY TOWARDS PAYING or Guaranteeing NECESSARY MEDICAL CARE. Sending money to people’s HSAs is really dumb.”.

Tether Expands into Commodity Lending, Extends $1.5 Billion in Credit

The post Tether Expands into Commodity Lending, Extends $1. 5 Billion com. TLDR Tether has extended $1. 5 billion in credit to commodity traders, providing financing in both USDT and cash. The company plans to dramatically expand its presence in commodity lending, targeting agricultural products and oil. Tether’s Trade Finance unit focuses on short-term credit to facilitate global supply chains and commodity trades. Despite some reluctance from traders to borrow in USDT, Tether’s growing financial influence is expected to overcome these concerns. Tether has also seen success with its tokenized gold product, Tether Gold, and holds more than 100 tons of physical gold. Tether has entered the commodity lending market, with $1. 5 billion already extended to traders. The stablecoin issuer is providing both cash and its USDT stablecoin for financing. CEO Paolo Ardoino announced plans for significant expansion in this sector. Tether’s Trade Finance Unit and Focus on Commodities Tether’s Trade Finance unit is driving its venture into commodity lending. The unit focuses on short-term credit to facilitate global supply chains. It aids traders in purchasing, transporting, and delivering goods, including agricultural products and oil. Ardoino confirmed that Tether has already extended $1. 5 billion in credit. He emphasized the firm’s strategy to “expand dramatically” in the coming months. This expansion follows Tether’s strong financial position, with nearly $184 billion worth of USDT in circulation. Tether aims to serve traditional commodity traders by providing the liquidity they need. The company believes it can offer an attractive financing option compared to conventional banks. This move further solidifies Tether’s role in the global financial landscape. Challenges in Borrowing USDT for Commodity Trades Some traders remain hesitant to borrow in USDT rather than traditional dollars. This reluctance stems from concerns about stablecoin volatility and regulatory uncertainties. However, Tether’s growing influence in the market may soon overcome these concerns. Despite these hesitations, Tether’s growing financial power is gaining.

$APEING Whitelist Opens, BCH Gains, XLM Fades

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Ex-CBP officer sentenced to 15 years in prison in drug trafficking scheme

A former U.S. Customs and Border Protection (CBP) officer received a 15-year prison sentence for allowing smugglers to transport vehicles filled with drugs across the southern border, according to a Thursday release from the Justice Department (DOJ). The former officer, Diego Bonillo, was charged with conspiracy to import controlled substances and importation of controlled substances,…