Bitcoin and other cryptocurrencies see prices fall amid global market turmoil

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By ALAN SUDERMAN, AP Business Writer

After holding relatively stable during last week’s global market turmoil, cryptocurrencies have joined the sell-off.

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Bitcoin, the world’s most popular cryptocurrency dipped below $75,000 Monday morning before seeing a slight rebound.

Bitcoin’s prices haven’t been this low since just after President Donald Trump’s Election Day victory last year launched a bull run in crypto prices. Trump, whose tariff announcements led to massive stock sell offs, has been a major promoter of the crypto industry and previously took credit when bitcoin’s price broke $100,000 in December. Bitcoin has been on a relatively steady slide in price since Trump took office earlier this year.

Bitcoin’s backers say it is a type of digital gold that can act as a hedge against volatility. But Garrick Hileman, an independent cryptocurrency analyst, said bitcoin’s price slide shows that thesis still hasn’t proven to be true.

“It’s just not there today,” he said. “(Bitcoin) trades like a risky tech stock.”

Other major digital assets saw even bigger one-day percentage drops on Monday morning.

Ether, the second most popular crypto token, was trading at about $1,500 on Monday morning. It’s lost about half of its value since Trump’s son, Eric Trump, encouraged his followers on social media to buy ether in early February.

President Trump’s own meme coin, which he launched just before taking office and once hit a high of more than $70, dipped below $8 Monday morning.

Stock prices of crypto-focused companies also saw declines in early trading Monday.

Bossed around by an algorithm? Inside LA’s ‘first full-scale AI powered gym’

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By Deborah Vankin, Los Angeles Times

LOS ANGELES — The genius knows all. It knows my height, my weight, my hydration, my cardio stamina — even, regrettably, my body’s visceral fat percentage. I’m standing on a bioelectrical impedance device — which looks a lot like a scale but with metal handles and metal foot pads — and it’s sending low-grade, painless electrical signals through my hands and feet to measure my muscle, fat and water. The percentages of each are then fed into an AI program.

Welcome to Fred Fitness, which touts itself as L.A.’s “first full-scale AI-powered gym.” You might be wondering: What does that even mean? Mostly that AI-powered software, referred to as Genius, is integrated into every piece of cardio and strength equipment at the gym. Throughout your workout, it functions as an ever-present but imperceptible force, sparking beneath the surface, like a digital mycelium network with an agenda: to help you reach your training goal (whether that’s weight loss, strength building or toning) in the most efficient way possible.

The Santa Monica facility opened in mid-February in an 11,500-square-foot former Patagonia store on 4th Street. Fred Fitness CEO Andre Enzensberger says the gym has about 400 members, who pay $150 a month to be bossed around by an algorithm.

At first glance, Fred Fitness looks like nothing more than a high-end gym in a tony neighborhood. It’s airy and bright, with soaring ceilings, exposed wood rafters and leafy hanging plants. On a recent Wednesday afternoon, it was sparsely populated, with just a few dozen members working out on brand-new, still-gleaming treadmills, bikes and elliptical machines. The strength machines use electric motors to create resistance instead of physical weights, so there’s no clanking. It’s relatively quiet but for the whirring of cardio equipment and a blend of lo-fi and electronic pop music on the sound system. Not exactly “The Matrix.”

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But the exercise machines at Fred Fitness are tailored to you. They know members’ names and body analysis data, and they’ve configured personalized workout programs customized to their goals and fitness abilities. They’re also gamified, meaning their screens display a “Pac-Man”-like video game that members “play” by moving the weight during reps and sets. Grab the handles of a seated rowing machine, for example, and pull the weight faster or slower to move your on-screen avatar — a ball — up or down within a maze and “eat” coins as you go. Competitive? The gym keeps track of your scores, if you choose to participate, and displays the information on an app and a wall-mounted monitor to encourage a sense of community.

“I love it because it’s fun and totally automated,” says Keverton Marinho, a 32-year-old new member. “I just play — I don’t have to think about anything.”

The gamification may be fun, but it’s purposeful too, Enzensberger says.

“It helps members train at the correct speed,” he says. “It regulates time under tension, meaning how fast you push or how slow you release the weight. So your workout is more effective.”

There’s no joining fee at Fred Fitness and the month-to-month membership includes access to certified personal trainers — though not unlimited sessions — who consult with members about their AI-generated training programs. Trainers also wander the gym floor, answering questions and offering corrections when they notice someone’s form is off. That human element is critical, Enzensberger says.

“AI is so big right now, but we’re very proud of the human aspect of our gym — the team — and how we complement the AI precision,” he said.

Before joining, potential members undergo a free full-body assessment from Genius to get a fitness baseline. A “body composition analyzer” breaks down fat and lean muscle mass limb by limb and gives stats about foundational muscle strength, base metabolic rate and hydration levels, among other metrics. That information is then interpreted by the AI. Many gyms offer fitness assessments when you sign up for personal training, and luxury health clubs, such as Equinox and Santa Monica’s Love Life, do in-depth health and fitness testing for new members; but most regular gym memberships don’t include fitness assessments.

After the body composition analysis, which measures your metabolism, a human trainer leads the member-to-be through different exercise circuits on machines that measure their strength, cardio and flexibility. There’s also a series of on-screen questions related to workout goals, exercise experience and preferences.

Genius then assigns the member a “biological age” — different from your chronological age in years. It’s like an overall fitness score, says Fred Fitness general manager Miguel Alvino.

“It’s a metric we use to give people an idea of where their strength and areas of improvement are compared to their calendar age,” Alvino explains.

From that point on, when you log onto an exercise machine with your wristband, it calls up your personalized training program. The machine then physically adjusts to your height and limb length, raising or lowering its seat and altering the position of its handles according to your body. The AI is also adaptive, utilizing machine learning. So it will evolve with you as you get fitter.

“The machines continue to learn about your capabilities,” Enzensberger says. “And that data is collected and fed into the AI to constantly generate a better training program for you.”

Fred Fitness is the brain child of Andre Enzensberger’s brother, Alfred, who is the president and founder of Munich-based Clever Fit, a fitness franchise with more than 500 locations throughout Europe. Alfred Enzensberger partnered with Philipp Roesch-Schlanderer, CEO of EGYM, a global fitness technology company also based in Munich, in 2023 to create a full AI gym. EGYM wrote Genius, which was deployed in August 2024. They brought in Andre Enzensberger as CEO.

There are other gyms with smart or AI-powered equipment in Southern California, such as L.A.’s EōS Fitness (with equipment from EGYM) and Smart Fit Method in Orange County. But at Fred Fitness, “Every piece of machinery is tied into the network,” Andre Enzensberger says. “We’re utilizing what the AI system can do on a much larger, fuller scale.”

Los Angeles was the ideal city in which to launch the venture, given its history as a hub for fitness and tech culture, he says. “We wanted to embrace the open-mindedness of the people of Los Angeles. Fred Fitness is groundbreaking and requires people who want to experience training in a new way.”

I enjoyed Genius’ guidance during my workout. The treadmill set itself to a lower speed than I normally run at, though at a higher incline, because Genius knew my exercise goal was strength building, not weight loss. And I loved the gamification element of the weight-lifting machines, even going so far as to laugh out loud mid-rep — though I wonder whether the game would get old over time. But in the end, what keeps me coming back to a gym is the promise of a sauna or steam after my workout. And Fred Fitness, unfortunately, doesn’t provide those amenities, which was disappointing.

But growth is on the horizon. A second Fred Fitness is now underway in downtown Culver City — it’s planning to open in early 2026 — and the company hopes to open four additional facilities within three to five years. The locations under consideration are downtown L.A., West Hollywood and Glendale.

“This is just a modern gym that’s fun to use — and people love it because it takes the guesswork out,” Enzensberger says. “Everything is fully guided.”

©2025 Los Angeles Times. Visit at latimes.com. Distributed by Tribune Content Agency, LLC.

The skyrocketing cost of weight-loss drugs has state Medicaid programs looking for a solution

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By SUSAN HAIGH and MARC LEVY, Associated Press

States increasingly struggling to cover the rising cost of popular GLP-1 drugs like Wegovy, Ozempic and Zepbound are searching for ways to get out from under the budgetary squeeze that took them by surprise.

One solution some policymakers may try is restricting the number of people on Medicaid who can use the pricey diabetes drugs for weight-loss purposes.

Pennsylvania’s Medicaid coverage of the drugs is expected to cost $1.3 billion in 2025 — up from a fraction of that several years ago — and is contributing to projections of a multibillion-dollar budget deficit. The state is thinking about requiring Medicaid patients who want to use GLP-1s for weight loss to meet a certain number on the body-mass index or try diet and exercise programs or less expensive medications first.

“It is a medication that’s gotten a lot of hype and a lot of press, and has become very popular in its use and it is wildly expensive,” Dr. Val Arkoosh, Pennsylvania’s human services secretary, told a state House hearing in March.

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Their physical therapy coverage ran out before they could walk again

At least 14 states already cover the cost of GLP-1 medications for obesity treatment for patients on Medicaid, the federal health care program for people with low incomes. Democrats and Republicans in at least a half-dozen other states floated bills this year to require the same coverage, according to an Associated Press analysis using the bill-tracking software Plural.

Some bills have stalled while others remain alive, including a proposal in Arkansas requiring GLP-1s to be covered under Medicaid when prescribed specifically for weight loss. Iowa lawmakers are thinking about ordering a cost-benefit analysis before making the commitment. Already, West Virginia and North Carolina ended programs in 2024 that provided coverage for state employees, citing cost concerns.

“It is very expensive,” said Jeffrey Beckham, the state budget director in Connecticut, where Medicaid coverage of the drugs for weight loss may be scrapped entirely. “Other states are coming to that conclusion, as well as some private carriers.”

Overall Medicaid spending on GLP-1 drugs — before partial rebates from drug manufacturers — jumped from $577.3 million in 2019 to $3.9 billion in 2023, according to a November report from KFF, a nonprofit that researches health care issues. The number of prescriptions for the drugs increased by more than 400% during that same time period. The average annual cost per patient for a GLP-1 drug is $12,000, according to a Peterson-KFF tracker.

About half of Americans “strongly” or “somewhat” favor having Medicare and Medicaid cover weight-loss drugs for people who have obesity, a recent AP-NORC poll showed, with about 2 in 10 opposed the idea and about one-quarter with a neutral view.

But Medicare does not cover GLP-1s, and the Trump administration said Friday that wouldn’t put into place a proposed rule by presidential predecessor Joe Biden to cover the medications under Medicare’s Part D prescription drug coverage. Biden’s proposal was expensive: It would have included coverage for all state- and federally funded Medicaid programs, costing taxpayers as much as $35 billion over next decade.

States that do provide coverage have tried to manage costs by putting prescribing limits on the GLP-1s. There’s also some evidence that if Medicaid patients lose weight with the drugs, they’ll be healthier and less expensive to cover, said Tracy Zvenyach of Obesity Action, an advocacy group that urges states to provide coverage.

Zvenyach also stressed how it’s unclear whether patients will need to regularly take these drugs for the rest of their lives — a key cost concern raised by public officials. “Someone may have to be on treatment for over the course of their lifetime,” she said. “But we don’t know exactly what that regimen would look like.”

About 40% of adults in the U.S. have obesity, according to the U.S. Centers for Disease Control and Prevention. Obesity can cause hypertension, Type 2 diabetes and high cholesterol, which lead to greater risks of things like stroke and heart attacks.

Dr. Adam Raphael Rom, a physician at Greater Philadelphia Health Action, a network of health centers in the city, said most of his patients who take GLP-1s are covered by Medicaid and some are non-diabetics who use it for weight loss.

“I had one patient tell me that it’s like, changed her relationship to food,” Rom said. “I’ve had patients lose like 20, 40, 60 pounds.”

But obesity experts have told The Associated Press that as many as 1 in 5 people may not lose the amount of weight that others have seen come off. And in a recent survey of state Medicaid directors conducted by KFF, a health policy research organization, they said cost and potential side effects are among their concerns.

The debate over coverage coincides with rising Medicaid budgets and the prospect of losing federal funding — with congressional Republicans considering siphoning as much as $880 billion from Medicaid over the next decade.

Connecticut is facing a $290 million Medicaid account deficit, and Democratic Gov. Ned Lamont proposed doing away with a 2023 requirement that Medicaid cover GLP-1s for severe obesity, though the state has never fully abided by the law due to the cost.

Starting June 14, though, state Medicaid patients will be required to have a Type 2 diabetes diagnosis to get the drugs covered. Lamont also is pushing for the state to cover two less expensive oral medications approved by the FDA for weight loss, as well as nutrition counseling.

Sarah Makowicki, 42, tried the other medications and said she suffered serious side effects. The graduate student and statehouse intern is working on a bill that would restore the full GLP-1 coverage for her and others.

Sara Lamontagne, a transgender woman with a disability who is on Medicaid, said she regained weight when her coverage for GLP-1 medication was cut off in the past. She said she went from 260 pounds to over 300, heavier than she had ever been.

“So, it’s a horrible game to be played, to be going back and and forth,” said Lamontagne, whose attempts to appeal the state’s recent denial of her Ozempic prescription refill have been unsuccessful.

Makowicki said GLP-1 drugs combined with weight-loss surgery helped her change her life: She’s had knee-replacement surgery and lost over 200 pounds.

“I am a different person from what I was five years ago,” Makowicki said. “Not only in my physical space, but also mentally.”

Haigh reported from Hartford, Connecticut. Levy reported from Harrisburg, Pennsylvania.

Storms tore up two of America’s most iconic trails. Federal cuts have disrupted repairs

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By JULIE WATSON

CAMPO, Calif. (AP) — Hiking the Pacific Crest Trail is a challenge, especially for adventurers making the entire run from Southern California to Canada, and Eric Kipperman’s job is to greet them at the start and lay bare the difficulties ahead.

He has lately begun warning that the journey may be even tougher. Following cuts by the Trump administration, plans to clear downed trees and rebuild storm-battered stretches in 2025 have been scrapped.

“This year, we’re going to have less trail work done on the trails, so just know that going into your hike, safety is the most important thing,” Kipperman told a group of backpackers from Europe and the United States at the trailhead near Campo, California, an hour’s drive east of San Diego.

He cautioned there is “no trail” at all in parts of the 2,650-mile path through California, Oregon and Washington state.

The cutbacks are not just on the West Coast. Ahead of the busy summer hiking season, funding freezes and mass layoffs also are disrupting repairs on the East Coast’s Appalachian Trail after nearly 500 miles were damaged by Hurricane Helene, underscoring how President Donald Trump’s dramatic downsizing of the U.S. government is touching even the nation’s remote backcountry where vacationers, wanderers and escapists alike retreat to leave modern life behind.

Wildfires and more intense storms due in part to climate change have been taking a toll on the legendary trails. The federal cuts threaten their very existence, according to the Pacific Crest Trail Association and the Appalachian Trail Conservancy, which oversee their preservation in partnership with the government and receive millions in federal dollars.

The U.S. Forest Service called the situation “dynamic and evolving” in an email to The Associated Press, but said they are committed to ensuring public safety and access to recreation areas that are vital to local economies.

The Trump administration has let go some 3,400 workers at the U.S. Forest Service, and nearly 1,500 at the National Park Service, including trail repair specialists. The associations said the cuts also led to the rescinding of job offers for seasonal crews with technical skills to rebuild boardwalks, bridges and campsites and train thousands of volunteers.

Courts have ordered federal agencies to rehire thousands of workers, but some say they are not coming back.

“For hikers, they’re going to be crawling, navigating, working their way through downed trees across the trail that won’t get cut out,” said Justin Kooyman, director of the Pacific Crest Trail operations. “It’s going to make for a little more rough and tumble.”

A backlog of projects

While the trails are not in total disarray and many hikers may not see any damaged areas, maintenance is critical to their existence, the associations say. More than 20 miles (32 kilometers) of the Appalachian Trail remain closed following Helene and downed trees could fuel wildfires.

Last month, the Appalachian Trail turned 100 years old. The footpath stretches 2,193 miles between Georgia’s Springer Mountain and Maine’s Mount Katahdin.

Its founder, the late forest scientist Benton MacKaye, saw a need for a place to escape stress following the end of World War I and the 1918 flu epidemic.

The Appalachian Trail and Pacific Crest Trail officially became the country’s first National Scenic Trails under the 1968 National Trails System Act. Completing them has come to symbolize the strength of the human spirit, inspiring books and movies. Only a fraction are thru-hikers, a term for those who walk the trails from end to end. Many don’t succeed and several people have died trying. Most users hike for a day or two to enjoy the breathtaking beauty.

“I am so concerned with what seems to be a general lack of appreciation for what these protected outdoor spaces can bring to not just our physical well-being but to our souls,” said Sandi Marra, head of the Appalachian Trail Conservancy. “If we lose these things, we are really going to be lost as a species, and definitely as a country.”

The Pacific Crest Trail Association said it is operating with a third less federal grant money than anticipated. The Appalachian Trail Conservancy said at least $1.5 million is at risk from federal downsizing.

The National Park Service said its funding has continued for the Appalachian Trail as it works to “address challenges collaboratively and seek solutions” to support the footpath’s “enduring legacy.”

Both trails already had a backlog of projects. Wildfires have scorched nearly 250 miles of the Pacific Crest Trail in recent years.

The disruption exacerbates the deteriorating conditions and the spread of invasive plant species, which will ultimately increase costs, said Megan Wargo, head of the Pacific Crest Trail Association.

Cutting back

The Pacific Crest Trail crosses searing desert and traverses forests of giant sequoias, the world’s largest trees, before climbing by snow-covered peaks in the rugged Sierra Nevada. After snaking over 50 mountain passes, it ends in Washington’s remote Pasayten Wilderness at the Canadian border.

As the trail’s popularity grew through social media and the bestselling memoir “Wild” that inspired a Hollywood film, drawing less experienced backpackers, the association hired what they call “crest runners.”

Kipperman is one of two at the southern end. Their duties include greeting hikers at the Mexican border, checking their permits and providing safety tips before they set off. The crest runners normally work from March until August, covering the hottest, riskiest months for that section.

Last year, a crest runner also worked the northern end at the Canadian border. But this year they only will be at the southern end until mid-May unless more federal funds are unfrozen.

Kipperman, whose trail name is “Pure Stoke,” is infectiously cheery as he rattles off the dangers from rattlesnakes to dehydration and distributes bags for discarded toilet paper. He steers clear of discussing politics and instead talks about protecting water quality, burying human waste, packing out trash and building safe campfires.

“Remove the ego. Address the situation. See if going forward is really the right thing for you,” Kipperman said, warning hikers to beware that Mile 225 or so is washed out.

Plowing ahead

After hearing Kipperman’s spiel, backpacker Joshua Suran said he planned to try helping restore the trail where possible.

Marias Michel of Germany trudged over, concerned about the weight of his backpack draped with gear, water bottles and a pair of Crocs. After quitting his job, he said he needed to do the trail, calling it “a resetting, a big detox.”

He was aware of the federal cuts but said he couldn’t worry about that.

“I’m just going to be learning by doing because I don’t want to be too much up here,” Michel said, pointing to his head. “I want to test myself. No expectations. It’s an attempt until you make it.”