By ALAN SUDERMAN

Cryptocurrency prices jumped after President Donald Trump’s surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund, an announcement that highlights Trump’s growing attempts to use volatile cryptocurrency prices as a barometer of his public support.

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Trump said on social media Sunday that his administration is working toward creating a “Crypto Strategic Reserve” that will include lesser-known cryptocurrencies XRP, solana, and cardano. He later followed up with another post saying his planned reserve would also include bitcoin and ether, the two most popular cryptocurrencies.

The announcement helped crypto prices rebound, at least temporarily, after recent sell-offs. Bitcoin was trading around $90,000 Monday morning after dipping below $80,000 last week. XRP, solana and cardano saw massive spikes in their prices after Trump’s announcement Sunday followed by a more gradual decline through Monday morning.

On the campaign trail, Trump pledged support for a “strategic national bitcoin” stockpile, which would include bitcoin the U.S. government has previously seized in law enforcement actions. Sunday’s announcement was the first time he advocated for the government to hold other types of cryptocurrencies.

The White House did not immediately provide additional details, including how much of each type of cryptocurrency Trump wanted the U.S. to hold, and how the government would acquire them, and whether he favored including other types of cryptocurrencies as well.

Eric Trump, the president’s son, said the price increases validated the recent advice he’s made on social media to stock up on crypto assets. “Hopefully, I made someone’s life just a little bit better,” he posted on social media.

The president has cast himself as hero to the crypto industry, which he said in his announcement had been the target of “years of corrupt attacks by the Biden administration.” The crypto industry felt unfairly targeted by the Biden administration and spent heavily to help Trump win election. The first several weeks of his administration have seen several moves to boost crypto, including ending or pausing high-profile enforcement actions by the Securities and Exchange Commission.

Crypto prices soared after Trump’s victory last year, and when the price of bitcoin first crossed $100,000 in early December, Trump took credit and posted “YOU’RE WELCOME!!!” on social media.

But prices have fallen since Trump’s inauguration and Trump has faced criticism, including from allies within the crypto industry, for helping launch a personal meme coin just before he took office that has since collapsed in value. The crash of meme coins linked to First Lady Melania Trump and Argentine President Javier Milei, along with a massive hack of a major cryptocurrency exchange that the FBI has said was done by North Korea, have also dimmed enthusiasm for crypto.

“Why is crypto in the toilet if Trump is crypto king?” Dave Portnoy, an influencer and crypto enthusiast, said on social media last week.

The inclusion of cryptocurrencies other than bitcoin is likely to face sustained pushback among some corners of the heavily divided cryptocurrency industry. Bitcoin is the oldest and by far most popular cryptocurrency, and accounts for more than half of the world’s global crypto market cap.

Advocates for the government holding a crypto reserve said would help diversify government holdings and hedge against financial risks. Critics say the volatility of cryptocurrencies makes them a poor choice as a reserve asset.

In addition to his announcement Sunday, Trump has also recently announced he will speak at and host industry leaders on Friday at a White House “Crypto Summit.”

By SOPHIA TAREEN

WAUKEGAN, Ill (AP) — An Illinois man pleaded guilty Monday to killing seven people and injuring dozens more when he opened fire on a 2022 Independence Day parade in a Chicago suburb, a stunning development moments before opening statements in his trial on charges of murder and attempted murder.

Appearing in a Lake County circuit courtroom, Robert E. Crimo III, 24, withdrew his earlier not-guilty plea in the Highland Park shooting.

Prosecutors initially charged him with 21 counts of first-degree murder — three counts for each person killed — as well as 48 counts of attempted murder. Prosecutors dropped 48 less serious counts of aggravated battery before jury selection last week.

On Monday, Judge Victoria Rossetti read the charges to Crimo and asked questions to be sure he understood before any open plea was read to the court. He was sitting next to his lawyers wearing a dark suit.

“Is that what you went over with your attorneys?” Rossetti asked.

“Yes,” Crimo replied to the judge.

He gave one-word answers, indicating he understood the charges. His mother, Denise Pesina, had a brief outburst at the news and was called up to the judge for a warning.

“We’re going to move forward,” the judge said to her. “You are not a party to this proceeding. If you would like to stay in the courtroom please have a seat and be quiet.”

She was allowed to stay.

The judge said with the plea change, there would be no trial or further motions on the case.

“He has knowingly and voluntarily waived those rights and pleaded guilty,” Rossetti said.

Lake County prosecutors read the names of all those killed in the shooting and of those injured, with the judge stopping to ask questions to make sure Crimo understood.

They went over the substantial evidence, including his prints on the gun used in the crime, and statements to police admitting to the mass shooting.

Sentencing will come April 23, but Crimo is certain to spend the rest of his life behind bars. Each count of first-degree murder carries a natural life prison sentence.

Crimo did not further address the court or ask questions before leaving the courtroom.

His defense attorneys declined comment ahead of the trial.

Ashley Beasley, who attended the parade with her son, said the guilty plea was a huge relief. She and her son were among the paradegoers who had to run for their lives and even though they weren’t injured, they have had to heal.

“Every single time I see him, it’s stressful. It’s upsetting for everyone in our community,” she told reporters after the hearing. “We all just wanted this to be over.”

Security was very tight for the proceedings at the courthouse in Lake County, with multiple bag checks and observers required to lock up their phones. The crowd expecting to hear opening statements included survivors and their family members.

Jurors, who were chosen last week, had not even been let into the courtroom yet when the plea change happened.

The trial was expected to last about a month with testimony from survivors and police. Prosecutors had submitted thousands of pages of evidence, as well as hours of a videotaped interrogation during which police say Crimo confessed to the shooting.

Dozens of people were wounded in the shooting in the suburb about 30 miles (50 kilometers) north of Chicago. The wounded ranged in age from their 80s down to an 8-year-old boy who was left partially paralyzed.

Witnesses described confusion as the shots began, followed by panic as families fled the downtown parade route, leaving behind lawn chairs and strollers to find safety inside nearby businesses or homes.

Authorities said Crimo perched on a roof and fired into crowds assembled for the annual Fourth of July parade in downtown Highland Park.

The criminal case proceeded slowly for months, partly due to Crimo’s unpredictable behavior. In June 2024, when he was expected to accept a plea deal and give victims and relatives a chance to address him publicly, Crimo showed up to court in a wheelchair and rejected the deal, surprising even his lawyers.

He also fired his public defenders and said he would represent himself. Then he abruptly reversed himself.

As potential jurors were questioned last week, he sporadically appeared in court, at times refusing to leave his jail cell.

The trial came almost two years after his father faced separate charges connected to how Crimo obtained a gun license.

In 2019, at age 19, Crimo was only allowed to apply for a gun license with the sponsorship of a parent or guardian. His father agreed, even though a relative had reported to police that his son had a collection of knives and had threatened to “kill everyone.”

His father, Robert Crimo Jr., a onetime mayoral candidate, was charged in connection with how his son obtained a gun license. He pleaded guilty in 2023 to seven misdemeanor counts of reckless conduct and served less than two months in jail.

He has attended his son’s hearings, sometimes making eye contact with him during court. He declined to discuss the case in detail ahead of the trial.

“As a parent, I love my son very much,” he said. “And Bobby loves this country more than anyone would ever know.”

Residents in the wealthy Highland Park community of roughly 30,000 set along Lake Michigan have mourned the losses deeply. Some potential jurors were excused because of their connections to the case.

City leaders canceled the usual parade in 2023, opting for a “community walk.” The parade was reinstated last year on a different route and with a memorial for the victims.

“Our community is once again reminded of the immense pain and trauma caused by the Highland Park shooting,” Highland Park Mayor Nancy Rotering said in a statement ahead of jury selection. “Our hearts remain with the victims, their families, and all those whose lives were forever changed by that devastating day.”

The victims killed in the shooting included Katherine Goldstein, 64; Jacquelyn Sundheim, 63; Stephen Straus, 88; Nicolas Toledo-Zaragoza, 78; Eduardo Uvaldo, 69; and married couple Kevin McCarthy, 37, and Irina McCarthy, 35.

Survivors and their families have filed multiple lawsuits, including against the maker of the semiautomatic rifle used in the shooting and against authorities they accuse of negligence.

By FATIMA HUSSEIN

WASHINGTON (AP) — The U.S. Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation.

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In a Sunday evening announcement, Treasury said in a news release that it will not impose penalties now or in the future if companies fail to register for the agency’s beneficial ownership information database that was created during the Biden administration.

Despite efforts by small businesses to undue the rule in the courts, it remains in effect.

On Sunday, President Donald Trump on his Truth Social media site praised the suspension of enforcement of the rule and said the database is “outrageous and invasive.”

“This Biden rule has been an absolute disaster for Small Businesses Nationwide,” he said. “The economic menace of BOI reporting will soon be no more.”

In September 2022, the Treasury Department started rulemaking to create a database that would contain personal information on the owners of at least 32 million U.S. businesses as part of an effort to combat shell company formations and illicit finance.

The rule required most American businesses with fewer than 20 employees to register their business owners with the government as of Jan. 1, 2024. Small businesses are targeted because shell companies, often used to hide illegally obtained assets, tend to have few employees.

Treasury officials, including former Treasury Secretary Janet Yellen, said the regulatory burden would be small, costing about $85 per business, but would offer benefits to law enforcement officials seeking to track down money launderers and other criminals. She said in January 2024 that more than 100,000 businesses had filed beneficial ownership information with Treasury.

The rule and its legislative authority — the Corporate Transparency Act, an anti-money laundering statue passed in 2021 — have been mired in litigation. In 2022, a small business lobbying group sued to block the Treasury Department’s requirement that tens of millions of small businesses register with the government. On Feb. 27, Treasury’s Financial Crimes and Enforcement Network said it would not take enforcement actions against companies that do not file beneficial ownership data with the agency.

Business leaders cite privacy and security concerns about the database and say it is duplicitous to other government agencies that maintain corporate databases.

“This is a victory for common sense,” said U.S. Secretary of the Treasury Scott Bessent on Sunday. “Today’s action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy.”

MEXICO CITY (AP) — Mexico President Claudia Sheinbaum said Monday that her administration is waiting to see if U.S. President Donald Trump makes good on his threat to impose 25% tariffs on Mexican imports.

Her Cabinet secretaries for security and trade among others have been in constant communication with their U.S. counterparts and she said there was still the possibility she and Trump would speak Monday.

Trump had threatened to impose tariffs in February before suspending them at the last minute, when Mexico sent 10,000 National Guard troops to their shared border to crack down on drug trafficking and illegal immigration.

“It’s a decision that depends on the United States government, on the United States president,” Sheinbaum said. “So whatever his decision is, we will make our decisions and there is a plan and there is unity in Mexico.”

Mexico believes it has made a strong case.

The number of migrants arriving at the U.S. border is the lowest it has been in years.

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Last week, Mexico sent 29 drug cartel figures, including the man involved in the 1985 killing of a DEA agent, to the United States.

Security forces have dismantled more than 100 synthetic drug labs in Sinaloa, and systematically weakened the two main factions of the cartel by the same name.

U.S. Treasury Secretary Scott Bessent said on Sunday that Mexico had offered to match the tariffs the U.S. will impose on China.

“It’s very important that the people know that we have made a very important effort of coordination, of collaboration, but it depends on the United States,” Sheinbaum said. “We have to respond to this decision.”