Trump's Bold Moves: From Extortion Claims to Cryptocurrency Reforms

The U.S. domestic news includes Gov. Newsom's criticism of Trump's political tactics, discussions on potential new Federal Reserve chair qualities, and Trump's new order on 401(k) involving cryptocurrencies. Additionally, White House crypto adviser Bo Hines departs, and Trump's various domestic policy pursuits are highlighted.

Governor Gavin Newsom of California has criticized President Donald Trump's offer to settle a $1 billion UCLA case as political extortion, asserting the state will not yield to such pressure.

In other news, Treasury Secretary Scott Bessent emphasizes the need for a new Federal Reserve chair capable of analyzing complex economic data, according to an interview with Japan's Nikkei. Meanwhile, the Trump administration is introducing new orders allowing more diverse, albeit riskier, investment options like cryptocurrencies into 401(k) plans.

Bo Hines, a key adviser on digital assets in the Trump administration, announces his return to the private sector as Trump pushes for significant policy changes, including urging China to increase soybean imports, reflecting his multifaceted governance style.

(With inputs from agencies.)