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Politics

Elon Musk emerges as top funder for U.S. Republicans as SpaceX federal awards surge

Elon Musk has spent about $366 million on at least 40 U.S. midterm election contests, emerging as the largest individual donor, while SpaceX won $6.78 billion in federal government work over the same period. Filings show much of the spending flowed to Republican groups and America PAC. With Congress overseeing budgets and regulation, attention is focusing on how election outcomes could affect Musk-linked companies, contracts and probes.

Crypto

Blockchain Association urges U.S. Congress to overhaul crypto tax rules

The Blockchain Association urged U.S. lawmakers to overhaul digital asset tax rules, calling for exemptions for small transactions and for stablecoins to be treated as cash for tax purposes. It also sought taxation of mining and staking rewards when they are sold, and limits on broker reporting duties to intermediaries that custody or control customer assets. The group did not endorse specific legislation and said it would continue discussions as bills move forward.

Crypto

Billionaire Kevin O\'Leary says stablecoins are safest cryptocurrency

Billionaire investor Kevin O\'Leary said stablecoins are the safest assets in the cryptocurrency market, citing a U.S. regulatory framework for payment stablecoins. He said stablecoins are designed to be relatively stable but are not risk-free, with safety varying by reserve quality, issuer credibility and redemption terms. O\'Leary described Bitcoin as speculative and still facing legal uncertainty, and said blockchain tokens such as Ethereum should be assessed by real-world adoption.