By MICHELLE CHAPMAN, Associated Press Business Writer

Bitcoin has reached an all-time high, surpassing $118,000 as a flood of money moves into spot bitcoin ETFs, which have opened up cryptocurrency investing to millions.

A soft U.S. dollar and the digital currency friendliness of President Donald Trump’s administration has also helped to push the price of bitcoin to unprecedented levels recently.

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Last month the Senate passed legislation that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers.

The fast-moving legislation comes on the heels of a 2024 campaign cycle in which the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond.

Known as the GENIUS Act, the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The acronym stands for “Guiding and Establishing National Innovation for U.S. Stablecoins.”

Next week the House of Representatives will be considering the GENIUS Act as part of Congress’ efforts to strengthen the country’s crypto position.

By HANNA ARHIROVA, VASILISA STEPANENKO and ILLIA NOVIKOV, Associated Press

KYIV, Ukraine (AP) — By day, the Ukrainian capital hums with life — crowded metros, dog walkers and children on playgrounds. By night, Kyiv becomes a battleground as Russia unleashes relentless drone and missile attacks that chase much of the population underground for safety.

The nighttime assaults have intensified in the fourth year of the full-scale invasion, with the number of drones sometimes exceeding 700. Swarms of 1,000 drones could soon become the norm, officials say.

Many people in Kyiv describe the recent attacks as the most terrifying of the war, and even residents who previously ignored sirens have been driven into bomb shelters in the subway system.

People sleep on the platform of a metro station as they take cover during a Russian attack on Kyiv, Ukraine, on Thursday, July 10, 2025. (AP Photo/Evgeniy Maloletka)

“During the day, you walk around, drink coffee, smile, meet friends, talk, have hobbies, chill,” said 25-year-old Karyna Holf. “But at night, you brace for death every time you hear the sound of a Shahed drone or a missile.”

A Russian attack on Thursday badly damaged her apartment. She was in the living room near a window when she heard the whistling sound of an incoming weapon. Moments later, the home shattered into pieces. She was lucky to survive.

The constant proximity to death often fuels dark humor. At night, many are paralyzed by fear. But by day, they joke that they don’t sleep naked, just in case they end up under rubble and rescuers have to pull them out.

“It’s like a computer game where you try to survive and still remain functional,” said 35-year-old Danylo Kuzemskyi, describing the balance between daily life and war.

The buzzing of drones — often ending in explosions — and the constant thud of air defenses can last for hours. The noise leaves many people chronically exhausted from lack of sleep.

Local residents stand outside of their house which was heavily damaged by a Russian strike in Kyiv, Ukraine, on Thursday, July 10, 2025. (AP Photo/Evgeniy Maloletka)

The drones blanket wide areas of the city, covered in darkness pierced only by the flashes of air defense fire. The air is filled with smoke and the smell of gunpowder.

Since the beginning of the year, more than 800 sites in Kyiv have been hit, including over 600 residential buildings, said the head of the Kyiv city administration, Tymur Tkachenko.

“They are deliberately hitting apartment buildings and urban districts,” he said. “This is their tactic — to spread fear and increase the number of civilian casualties.”

Russia insists that it strikes only military targets, though there are abundant examples throughout the war of civilian infrastructure being hit.

The attacks have also strengthened the solidarity among Kyiv residents. On social media, people post with pride that they can still grab a cappuccino in the morning, make it to a workout or keep their appointments — without canceling a thing.

“I understand that Russia’s terror is aimed not only at military targets but at the entire Ukrainian people. Russia is trying to demoralize us,” said Kuzemskyi, whose apartment was destroyed in a previous attack. “Is it succeeding? In my case, I’d say no.”

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He is among those who no longer go to shelters during attacks, saying he now “prioritizes sleep” over safety.

For 23-year-old Oleksandra Umanets, who has a 10-month-old son, the shelter in the subway feels safer than her home at night.

Around 5 a.m., she usually leaves the shelter with her child, walks home, lies down to sleep and wakes up relieved to see her baby smiling.

“I see the same kids running, playing — and moms who are smiling,” she said of their walks during the day. “You wouldn’t guess they spent the night in the metro or didn’t sleep at all, even though everyone knows it. But no one talks about it. Everyone just keeps living.”

Then evening comes. She packs a bag, places it by the door, prepares the stroller and lays out clothes for herself and her baby. When the siren sounds again, she’s ready to hide.

“When it’s about you — that’s one thing. But when it’s about your child, for what?” she said. “To kill him just for being born in Ukraine? He didn’t choose where to be born.”

By LINLEY SANDERS, Associated Press

WASHINGTON (AP) — Just months after President Donald Trump returned to office amid a wave of anti-immigration sentiment, the share of U.S. adults saying immigration is a “good thing” for the country has jumped substantially — including among Republicans, according to new Gallup polling.

About 8 in 10 Americans, 79%, say immigration is “a good thing” for the country today, an increase from 64% a year ago and a high point in the nearly 25-year trend. Only about 2 in 10 U.S. adults say immigration is a bad thing right now, down from 32% last year.

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During Democratic President Joe Biden’s term in office, negative views of immigration had increased markedly, reaching a high point in the months before Trump, a Republican, took office. The new Gallup data suggests U.S. adults are returning to more pro-immigrant views that could complicate Trump’s push for sweeping deportations and other anti-immigration policies. The poll shows decreasing support for the type of mass deportations Trump has championed since before he was elected.

Since taking office, Trump has called on U.S. Immigration and Customs Enforcement to do all in its power to deliver “the single largest Mass Deportation Program in History.” His administration has also pushed to limit access to federal benefits for immigrants who lack legal status, sought to revoke the citizenship of immigrants who commit crimes and is working to end birthright citizenship for children born to those without legal status or who are in the country temporarily.

In general, Americans’ views of immigration policies have shifted dramatically in the last year, the Gallup polling shows — including among Republicans, who have become much more content with immigration levels since Trump took office but who have also grown more supportive of pathways to citizenship for people in the country illegally.

The broader trend also shows that public opinion is generally much more favorable to immigrants than it was decades ago.

The vast majority of U.S. adults say immigration is good

Americans’ more positive view on immigration is driven primarily by a shift among Republicans and independents.

About two-thirds of Republicans now say immigrants are “a good thing” for the country, up from 39% last year. And independents moved from about two-thirds last year to 80% this year.

Democrats have maintained their overwhelmingly positive view of immigration in the last few years.

The share of Americans who want immigration decreased has dropped significantly

In the time since Trump took office, Republicans have become more satisfied with the level of immigration in the country.

The share of Americans who want immigration “decreased” in the United States dropped from 55% to 30%. While fewer Americans now want to decrease the number of people who come to the U.S. from other countries, more want immigration levels kept the same than want higher immigration levels. About 4 in 10 say immigration should be kept at its current level, and only 26% say immigration should be increased.

The poll suggests Republicans’ sharp anti-immigrant views highlighted before November’s election — which helped return Trump to the White House — have largely faded. The share of Republicans saying immigration should be decreased dropped from a high of 88% to 48% in the last year. Close to 4 in 10 Republicans now say immigration levels should remain the same, and only about 1 in 10 would like an increase.

Much of that Republican movement likely comes from support for the Trump administration’s stringent immigration enforcement, but there are also signs in the Gallup polling that Republicans have become more supportive of pathways to citizenship for immigrants in the country illegally and more likely to see benefits from immigration that could be at odds with the Trump administration’s priorities.

More Americans back a pathway to citizenship

Most Americans favor allowing immigrants living in the U.S. illegally the chance to become U.S. citizens if they meet certain requirements over a period of time, the poll shows.

Almost 9 in 10 U.S. adults, 85%, favor a pathway to citizenship for immigrants who were brought to the U.S. illegally as children, and nearly as many say they favor a path to citizenship for all immigrants in the country illegally as long as they meet certain requirements.

That increased support for pathways to citizenship largely comes from Republicans, about 6 in 10 of whom now support that, up from 46% last year. Support was already very high among independents and Democrats.

Support for deporting immigrants in the country illegally has also decreased across the board, but less significantly. About 4 in 10 U.S. adults now favor deporting immigrants who are in the country illegally, down from about half a year ago.

By MATTHEW LEE, Associated Press Diplomatic Writer

KUALA LUMPUR, Malaysia (AP) — U.S. Secretary of State Marco Rubio said there were “areas of potential cooperation” between Washington and Beijing and stressed the importance of managing differences following his first in-person meeting with his Chinese counterpart as he wrapped up a two-day regional security forum in Malaysia.

Rubio and Chinese Foreign Minister Wang Yi met Friday on the sidelines of the Association of Southeast Asian Nations regional forum in Kuala Lumpur, Malaysia, as tensions between the two global powers continue to rise over trade, security, and China’s support for Russia’s war in Ukraine.

U.S. Secretary of State Marco Rubio, right, talks to Russia’s Foreign Minister Sergey Lavrov at the 15th East Asia Summit Foreign Ministers’ meeting during the 58th Association of Southeast Asian Nations (ASEAN) Foreign Ministers’ meeting and related meetings at the Convention Centre in Kuala Lumpur Friday, July 11, 2025. (Mandel Ngan/Pool Photo via AP)

“Look, we’re two big, powerful countries, and there are always going to be issues that we disagree on. I think there’s some areas of potential cooperation. I thought it was very constructive, positive meeting and a lot of work to do,” Rubio told reporters after the meeting.

Rubio also indicated that a potential visit to China by U.S. President Donald Trump to meet with President Xi Jinping was likely, saying: “The odds are high. I think both sides want to see it happen.”

Trade takes a back seat

While tariffs loomed in the background, Rubio said trade was not a major focus of his talks because “I’m not the trade negotiator.”

“We certainly appreciate the role trade plays in our bilateral relationships with individual countries. But the bulk of our talks here have been about all the other things that we cooperate on,” he said.

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U.S. State Department spokesperson Tammy Bruce said Rubio emphasized the importance of keeping channels of communication open during the China meeting.

The meeting was held less than 24 hours after Rubio met in Kuala Lumpur with another rival, Russian Foreign Minister Sergey Lavrov, during which they discussed potential new avenues to jumpstart Ukraine peace talks.

The high-level meetings took place amid regional unease over U.S. policies — especially Trump’s threats t o impose sweeping new tariffs on both allies and adversaries. Southeast Asian leaders voiced concerns, but according to Rubio, many prioritized discussions on security issues, their concerns about Chinese domination and desire for cooperation with the U.S.

“Of course, it’s raised. It’s an issue,” Rubio said. “But I wouldn’t say it solely defines our relationship with many of these countries. There are a lot of other issues that we work together on, and I think there was great enthusiasm that we were here and that we’re a part of this.”

Security issues looms large

However, Trump sees China as the biggest threat to the United States in multiple fields, not least technology and trade, and like previous U.S. presidents has watched the country greatly expand its influence globally while turning increasingly assertive in the Indo-Pacific, notably toward its small neighbors over the South China Sea and Taiwan.

Trump has warned of massive tariffs that he could impose on Chinese exports to the United States and preliminary discussions between the two sides have yet to produce significant progress.

Since former President Joe Biden was in office, the U.S. has also accused China of assisting Russia in rebuilding its military industrial sector to help it execute its war against Ukraine. Rubio said the Trump administration shares that view.

“I think the Chinese clearly have been supportive of the Russian effort, and I think that generally they’ve been willing to help them as much as they can without getting caught,” Rubio said Thursday.

China criticizes Trump’s tariffs

Rubio and Wang had been shadowboxing during the two-day ASEAN meeting, with each touting the benefits of their partnership to Southeast Asian nations.

Rubio has played up cooperation, including signing a civil-nuclear cooperation agreement with Malaysia, while Wang has railed against Trump’s threatened tariffs and projected China as a stable counterweight in talks with ASEAN counterparts on the sidelines.

“The U.S. is abusing tariffs, wrecking the free trade system and disrupting the stability of the global supply chain,” Wang told his Thai counterpart Maris Sangiampongsa, according the Chinese foreign ministry.

Chinese Foreign Minister Wang Yi attends the 26th ASEAN Plus Three Foreign Ministers’ Meeting at the Kuala Lumpur Convention Centre in Kuala Lumpur, Malaysia, July 10, 2025. (Hasnoor Hussain/Pool Photo via AP)

In a meeting with Cambodian Deputy Prime Minister Prak Sokhonn, Wang said that the tariffs are “an attempt to deprive all parties of their legitimate right to development.”

“In the face of turbulent global situation, China is willing to be Cambodia’s trustworthy and reliable friend and partner,” he added.

Wang also met with Lavrov on Thursday, where the two offered a joint message aimed at Washington. “Russia and China both support ASEAN’s central role in regional cooperation… and are wary of certain major powers creating divisions and instigating confrontation in the region,” Russia’s foreign ministry said in a statement.

But Rubio found support from Australian Foreign Minister Penny Wong, who said Friday that continued U.S. engagement was crucial for regional stability.

“We want to see a region where no one country dominates and no country is dominated,” Wong told reporters when asked about China’s rising might in the region. “We want to see a region where there is a balance of power… where there is no coercion or duress.”

At the same time, Wong said Australia is committed to maintaining a stable relationship with China, noting that engagement remains the best path forward.

Associated Press writers Huizhong Wu in Bangkok and Eileen Ng in Kuala Lumpur, Malaysia, contributed to this report.