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MADISON, Wis. (AP) — President-elect Donald Trump’s former Wisconsin attorney lashed out Thursday at the state’s Democratic attorney general for filing felony charges against him and two others related to the 2020 fake electors scheme, saying after their initial court appearance that he was the victim of “lawfare” that wreaked havoc on his life. Jim Troupis, a former Wisconsin judge who represented Trump in 2020, was the only one of the three defendants to appear in person at the hearing. Kenneth Chesebro, an attorney who advised Trump’s 2020 campaign, and Mike Roman, Trump’s director of Election Day operations in 2020, appeared by phone. All three are charged with 11 felony forgery counts. Each charge carries a maximum penalty of six years in prison and a $10,000 fine. A court commissioner set a preliminary hearing for all three for Jan. 28. They will enter their pleas at their arraignment, which is not yet scheduled. Troupis, in comments after the brief hearing, said Wisconsin Attorney General Josh Kaul has “doubled down on a vicious strategy to destroy our very faith in the system of justice by using the courts for his own personal political game.” “My family and I have endured nonstop vicious and unrelenting savage attacks on my reputation, on my livelihood,” Troupis said outside of the courtroom surrounded by supporters, including Republican former Gov. Scott McCallum. “My children have been interrogated. My long-held friendships and professional life have been destroyed.” Kaul said in a written statement in reaction to Troupis that decisions in cases are based on the facts and the law. “In this case, like all other cases, we will litigate the issues in dispute in a court of law,” Kaul said. Troupis defended the strategy of having the GOP electors meet, saying it was necessary in case a court ruled that Trump won Wisconsin. “We had thought that this would end,” Troupis said. “The country asked for it to end in November, but lawfare in all its despicable forms will not end in Wisconsin.” Troupis and the other two defendants were ordered not to have contact with the 10 electors or three others not identified by name in the criminal complaint. They did not object to those conditions and were allowed to leave without posting any money for bail. The state charges against the Trump attorneys and aide are the only ones in Wisconsin. None of the electors have been charged. The 10 Wisconsin electors, Chesebro and Troupis all settled a lawsuit that was brought against them in 2023. There are pending charges related to the fake electors scheme in state and federal courts in Arizona , Michigan , Nevada and Georgia. Federal prosecutors investigating Trump’s conduct related to the Jan. 6, 2021, U.S. Capitol riot said the fake electors scheme originated in Wisconsin. Electors are people appointed to represent voters in presidential elections. The winner of the popular vote in each state determines which party’s electors are sent to the Electoral College, which meets in December after a presidential election to certify the outcome. The Wisconsin complaint details how Troupis, Chesebro and Roman created a document that falsely said Trump had won the state’s 10 Electoral College votes and attempted to deliver it to then-Vice President Mike Pence for congressional certification. Prosecutors said in the complaint that most of the 10 electors told investigators they needed to sign the elector certificate indicating that Trump had won only to preserve his legal options if a court changed the outcome of the election in Wisconsin. Most of the electors also said that they did not consent to having their signatures presented as if Trump had won without such a court ruling, the complaint said. Troupis and Roman filed four motions to dismiss the charge before Thursday’s hearing. The court commissioner did not consider those. The fake elector efforts were central to a 2023 federal racketeering indictment filed against Trump alleging he tried to overturn the results of the 2020 election. Special counsel Jack Smith moved to abandon that case last month, acknowledging that Trump’s return to the White House in January will preclude attempts to federally prosecute him. Trump was also indicted in Georgia along with 18 others accused of participating in a sprawling scheme to illegally overturn the 2020 presidential election there. Trump is trying to get that case dismissed , arguing that state courts won’t have jurisdiction over him when he returns to the White House next month. Chesebro and Roman were among those indicted with Trump in Georgia. Roman has pleaded not guilty to racketeering and conspiracy charges there, as well as to nine felony charges in Arizona related to the fake electors scheme in that state. Chesebro pleaded guilty to one felony charge of conspiracy to commit filing false documents in a deal with Georgia prosecutors. He is trying to invalidate the plea after the judge in September tossed out the charge against Trump and others. Associated Press writer Todd Richmond contributed to this story.
Yes, stocks are pricey and too popular — but overbought does not mean ‘sell’ADELAIDE, Australia and CAMBRIDGE, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Bionomics Limited (Nasdaq: BNOX) (“Bionomics” or the “Company”) is pleased to provide the following update on the status of its proposed re-domiciliation from Australia to the United States. Bionomics shareholders have today approved, by the requisite majority, the proposed Scheme of Arrangement in relation to the Company’s proposed re-domiciliation from Australia to the United States, under which Neuphoria Therapeutics Inc., a Delaware corporation (“Neuphoria”), will become the ultimate parent company of Bionomics Limited following the implementation of the Scheme of Arrangement. Voting Results In summary: 96% of the votes cast by Bionomics shareholders were in favor of the Scheme; and 87% of Bionomics shareholders present and voting (in person or by proxy, attorney or corporate representative) voted in favor of the Scheme. Next Steps Although Bionomics shareholder approval has been obtained, the Scheme remains subject to several customary conditions detailed in the Scheme Implementation Agreement, as amended and restated, between Bionomics and Neuphoria, including: the Supreme Court of New South Wales, Australia approving the Scheme at a hearing currently scheduled to occur at 3:00pm (Sydney time) on December 16, 2024 (“Second Court Hearing”); the independent expert not withdrawing or adversely modifying its conclusion that the Scheme is in the best interest of Bionomics shareholders; and the satisfaction or waiver of any remaining conditions prior to the Second Court Hearing. Subject to these remaining conditions being satisfied or waived, implementation of the Scheme is expected to occur on or about December 24, 2024 and shares of Neuphoria are expected to begin trading on Nasdaq under the symbol “NEUP” on that date or as soon as possible thereafter. For further information, please contact: About Bionomics Limited Bionomics (NASDAQ: BNOX) is a clinical-stage biotechnology company developing novel, potential first-in-class, allosteric ion channel modulators to treat patients suffering from serious central nervous system (“CNS”) disorders with high unmet medical need. Bionomics is advancing its lead drug candidate, BNC210, an oral, proprietary, selective negative allosteric modulator of the α7 nicotinic acetylcholine receptor, for the acute treatment of Social Anxiety Disorder (SAD) and chronic treatment of Post-Traumatic Stress Disorder (PTSD). Beyond BNC210, Bionomics has a strategic partnership with Merck & Co., Inc. (known as MSD outside the United States and Canada) with two drugs in early-stage clinical trials for the treatment of cognitive deficits in Alzheimer’s disease and other central nervous system conditions. Bionomics’ pipeline also includes preclinical assets that target Kv3.1/3.2 and Nav1.7/1.8 ion channels being developed for CNS conditions of high unmet need. Forward-Looking Statements Bionomics cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as “may,” “could,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “seek,” “contemplate,” “potential,” “continue” or “project” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. The forward-looking statements are based on our current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Bionomics that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business and other risks described in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K filed with the SEC, and its other reports. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Bionomics undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks, uncertainties and other factors is included in Bionomics’ filings with the SEC, copies of which are available from the SEC’s website (www.sec.gov) and on Bionomics’ website (www.bionomics.com.au) under the heading “Investor Center.” All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. Bionomics expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this press release. Not an offer of securities This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Neuphoria shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold except in a transaction registered under the Securities Act or in a transaction exempt from, or not subject to, such registration requirements and applicable U.S. state securities laws.
NEW YORK (AP) — Bitcoin topped $100,000 for the first time this week as a massive rally in the world's most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on. The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5. The asset climbed from $69,374 on Election Day, hitting as high as $103,713 Wednesday, according to CoinDesk. And the latest all-time high arrives just two years after bitcoin dropped below $17,000 following the collapse of crypto exchange FTX . Bitcoin fell back below the $100,000 by Thursday afternoon, sitting above $99,000 by 4 p.m. ET. Even amid a massive rally that has more than doubled the value of bitcoin this year, some experts continue to warn of investment risks around the asset, which has quite a volatile history. Here’s what you need to know. Cryptocurrency has been around for a while now. But chances are you’ve heard about it more and more over the last few years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, XRP, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money, but most daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions. A lot of the recent action has to do with the outcome of the U.S. presidential election. Trump, who was once a crypto skeptic, has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. On Thursday morning, hours after bitcoin surpassed the $100,000 mark, Trump congratulated “BITCOINERS” on his social media platform Truth Social. He also appeared to take credit for the recent rally, writing, “YOU’RE WELCOME!!!” Top crypto players welcomed Trump’s election victory last month, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape. And the industry has made sizeable investments along the way. Back in August, Public Citizen, a left-leaning consumer rights advocacy nonprofit, reported finding that crypto-sector corporations spent more than $119 million in 2024 to back pro-crypto candidates across federal elections. Trump made his latest pro-crypto move when he announced his plans Wednesday to nominate Atkins to chair the SEC. Atkins was an SEC commissioner during the presidency of George W. Bush. In the years since leaving the agency, Atkins has made the case against too much market regulation. He joined the Token Alliance, a cryptocurrency advocacy organization, in 2017. Under current chair Gary Gensler, who will step down when Trump takes office, the SEC has cracked down on the crypto industry — penalizing a number of companies for violating securities laws. Gensler has also faced ample criticism from industry players in the process. One crypto-friendly move the SEC did make under Gensler was the approval in January of spot bitcoin ETFs, or exchange trade funds, which allow investors to have a stake in bitcoin without directly buying it. The spot ETFs were the dominant driver of bitcoin's price before Trump's win — but, like much of the crypto’s recent momentum, saw record inflows postelection. Bitcoin surpassing the coveted $100,000 mark has left much of the crypto world buzzing. “What we’re seeing isn’t just a rally — it’s a fundamental transformation of bitcoin’s place in the financial system,” Nathan McCauley, CEO and co-founder of crypto custodian Anchorage Digital, said in a statement — while pointing to the growth of who's entering the market, particularly with rising institutional adoption. Still, others note that the new heights of bitcoin's price don't necessarily mean the asset is going mainstream. The $100,000 level is “merely a psychological factor and ultimately just a number,” Dan Coatsworth, investment analyst at British investment company AJ Bell, wrote in a Thursday commentary . That being said, bitcoin could keep climbing to more and more all-time highs, particularly if Trump makes good on his promises for more crypto-friendly regulation once in office. If Trump actually makes a bitcoin reserve, for example, supply changes could also propel the price forward. “It is hard to overstate the magnitude of the change in Washington’s attitude towards crypto post-election,” Matt Hougan, chief investment officer at Bitwise Asset Management, said via email Thursday, reiterating that prices could keep rising if trends persist. “There is a lot more demand than there is supply, and that’s usually a pretty good recipe for success.” Still, as with everything in the volatile cryptoverse, the future is never promised. Worldwide regulatory uncertainties and environmental concerns around bitcoin “mining" — the creation of new bitcoin, which consumes a lot of energy — are among factors that analysts like Coatsworth note could hamper future growth. And, as still a relatively young asset with a history of volatility, longer-term adoption has yet to be seen through. Today’s excitement around bitcoin may make many who aren’t already in the space want to get in on the action. For those in a position to invest, Hougan says it's not too late — noting that bitcoin is still early in its development and most institutional investors “still have zero exposure.” At the same time, Hougan and others maintain that it's important to tread cautiously and not bite off more than you can chew. Experts continue to stress caution around getting carried away with crypto “FOMO,” or the fear of missing out, especially for small-pocketed investors. “A lot of people have got rich from the cryptocurrency soaring in value this year, but this high-risk asset isn’t suitable for everyone,” Coatsworth noted Thursday. “It’s volatile, unpredictable and is driven by speculation, none of which makes for a sleep-at-night investment.” In short, history shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day. Coatsworth points to recent research from the Bank for International Settlements, a Switzerland-based global organization of central banks, which found that about three-quarters of retail buyers on crypto exchange apps likely lost money on their bitcoin investments between 2015 and 2022. At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of rate hikes by the Federal Reserve. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000. Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs, and again, now the post-election frenzy. But lighter regulation from the coming Trump administration could also mean less guardrails. This story has been corrected to refer to Anchorage Digital as a crypto custodian, not a crypto asset manager.Apple’s investment in the UK over the last five years has now surpassed £18 billion, with the technology giant’s engineering teams in the country doubling in that time, the iPhone maker has said. The US tech giant said it now supported 550,000 jobs in the UK through direct employment, its supply chain and the economy around its App Store – with app developers having earned nearly £9 billion since it launched in 2008. Apple said its engineering teams were carrying out critical work on the firm’s biggest services, including key technology within Apple Intelligence, the iPhone maker’s suite of generative AI-powered tools which are expected to launch in the UK for the first time this week. Elsewhere, the firm said its growing TV empire, spearheaded by its Apple TV+ streaming service and production arm, had also helped boost its investment in the UK with Apple TV+ production in this country tripling in the last two years, the company said. “We’re thrilled to be growing our Apple teams here, and to keep supporting the extraordinary innovators, creators, and entrepreneurs who are pushing the boundaries of technology in so many ways.” The Chancellor Rachel Reeves said companies such as Apple were “intrinsic” to the UK’s prosperity by boosting jobs. “This government is laser focused on creating the right conditions for growth to help put more money in people’s pockets. “That’s what underpins the Plan for Change and is what has driven £63 billion worth of inward investment in the UK through our first international investment summit. “Companies like Apple are intrinsic to the success of our nation’s prosperity – helping deliver jobs, innovative technology, and boost infrastructure.”
The U.S. defense budget is approaching $1 trillion. , who have a history of overcharging the Pentagon and fleecing American taxpayers. Raytheon recently agreed to pay investigations concerning defective pricing, foreign bribery and export control schemes. The public is tired of this waste and abuse. I want the U.S. to have the greatest military in the world and the resources to counter increasingly sophisticated threats from our adversaries, but we need a more sensible approach. That is why I have been the only member on . And that is why I look forward to working with the Department of Government Efficiency (DOGE) to reduce waste and fraud at the Pentagon, while strongly opposing any cuts to programs like Social Security, Medicare, the Department of Veterans Affairs or the Consumer Financial Protection Bureau. There are several areas of waste and abuse that I hope DOGE will address. As a starter, consolidation in the defense industry has allowed companies to drive up prices. When I was a freshman member of Congress, I led an investigation on the House Oversight Committee into the defense contractor TransDigm, which through mergers had acquired exclusive rights to sole-source aircraft parts. A report from the Defense Department’s inspector general revealed the company had exploited the American people by overcharging over 4,000 percent on those sole-source parts. In the end, TransDigm returned . Equally outrageous, found that the price of stinger missiles has increased from . One reason is that and can drive up costs. Lockheed Martin’s F-35 jet, which DOGE co-chair Elon Musk has rightly criticized, is another example of how a lack of competition has resulted in waste and zero incentive to innovate. The F-35 jet is perpetually and over budget. The lifetime cost to maintain them will be over . We should make defense contracting more competitive, helping small and medium-sized businesses to compete for Defense Department projects. We can do this by reducing massive sole-source contracts that only specific large companies can fulfill, breaking up major acquisitions into smaller programs, and improving funding and administrative support to help companies cross the “valley of death” between research and product commercialization. Our biggest program overruns, like the F-35 jet, are what’s known as “cost-plus contracts.” These make taxpayers shoulder the risk of increasing development costs, and take away contractors’ motivations to reduce costs. We must ensure better risk-sharing with contractors and provide incentives for them to reduce program costs. For example, we should award more contracts to vendors who invest in their industrial base and can rapidly respond to the military’s requirements, instead of engaging in stock buybacks. The Defense Department also needs better acquisition oversight. Defense contractors have gotten away with overcharging the Pentagon and ripping off taxpayers for too long. A revealed that the Air Force overpaid Boeing for the C-17 Cargo Aircraft. The most egregious purchase was . This happened because the Air Force failed to effectively monitor the prices that Boeing, the contractor, provided. One ingredient for effective price monitoring is better communication across the federal government to ensure the Pentagon isn’t paying more than any other department. The Defense Health Agency overpaid by , spending as much as . The department’s acquisition processes lacks sufficient controls for defense contractors who can get away with overcharging the government. We have a phenomenal workforce, but they must be paired with state-of-the-art systems and policies to ensure contracts only go to qualified contractors with reasonable prices. Industry obviously cannot be trusted to provide fair pricing and contract negotiations. DOGE should provide recommendations for systems to better manage government spending and acquisition. If the Defense Department had checked all the prices that Boeing provided during the contract negotiations and appropriately monitored price increases throughout the project, they could have prevented this waste. Another area where we can work with DOGE is reducing the billions being spent to maintain excess military property and facilities domestically and abroad. There are that cost taxpayers . Previous rounds of Base Realignment and Closure (BRAC) annually. A new round, focused internationally, could simultaneously save billions and improve national security. Finally, DOGE can also cut the Nuclear-Armed Sea-Launched Cruise Missile program. report estimated that the missile and its warhead cost at least . Though the Navy , Congress has continued funding it. American taxpayers want and deserve the best return on their investment. Let’s put politics aside and work with DOGE to reduce wasteful defense spending. And let’s invest instead in domestic manufacturing, good-paying jobs and a modern national security strategy.Florida-Based International Transactions Team Joins Ice Miller to Launch New Miami Office