China accuses US of ‘turning space into a warzone’ with Trump’s Golden Dome missile defense project
China is concerned by President Donald Trump‘s proposal for a new U.S. missile defense system, called the Golden Dome, which is designed to protect against adversarial attacks on America. Golden Dome has a “strong offensive nature and violates the principle of peaceful use in the Outer Space Treaty,” Chinese Foreign Minister Mao Ning said Wednesday. “The project will heighten the risk of turning space into a war zone and creating a space arms race, and shake the international security and arms control system,” Mao said. “We urge the U.S. to give up developing and deploying global anti-missile system.” Both China and Russia have placed offensive weapons in space, like anti-satellite capabilities that could potentially be used to try to take the U.S. offline, American intelligence officials have warned. ‘MIND-BOGGLING’: SPACE FORCE CHIEF FIRES OFF DIRE WARNING ABOUT CHINESE CAPABILITY TO KNOCK OUT US SATELLITES However, China said it was the U.S. that was “obsessed” with offensive space dominance. “The U.S., by putting itself first, and being obsessed with pursuing absolute security, violates the principle of, and diminishes, the security for all and undermines the global strategic balance and stability,” Mao said. “China is gravely concerned about this,” she added. “We urge the U.S. to give up developing and deploying the global anti-missile system at an early date and take concrete actions to enhance strategic mutual trust between major countries and safeguard global strategic stability.” Trump laid out a broad overview of the Golden Dome plan from the White House on Tuesday, projecting the cost figure at $125 billion. The current government funding bill working its way through Congress includes an initial $25 billion to kick off the project. Trump also offered an ambitious timeline for the project to be completed before he leaves office. LASERS, SPACE RADARS, MISSILE INTERCEPTORS: DEFENSE LEADERS LAY OUT VISION FOR TRUMP’S ‘GOLDEN DOME’ PROJECT Fox News Digital has reached out to the White House for comment on China’s reaction. The Kremlin, meanwhile, said the Golden Dome project could prompt talks on strategic arms control between Russia and the U.S. The U.S. withdrew from the Intermediate-Range Nuclear Forces Treaty in 2019 and the Anti-Ballistic Missile Treaty in 2002, citing Russian violations which Moscow denied. “Now that the legal framework in this area has been destroyed, and the validity period has expired, or deliberately, let’s say, a number of documents have ceased to be valid, this base must be recreated both in the interests of our two countries and in the interests of security throughout the planet,” said Kremlin spokesman Dmitry Peskov. China’s space-based targeting capabilities have “grown most impressively” in recent years, according to Space Force Vice Chief Gen. B. Chance Saltzman, with hundreds of satellites now dedicated to tracking U.S. assets in orbit. He called China’s rapid advances “mind-boggling” during a hearing on Capitol Hill last month and said the U.S. was at risk of losing its dominance in orbit. Weeks before that, Space Force Vice Chief of Operations Gen. Michael Guetlein revealed that China has been practicing satellite “dogfighting,” a sign of its growing ability to conduct complex operations in orbit. Space Force has observed “five different objects in space maneuvering in and out and around each other in synchronicity and in control,” he said. “That’s what we call dogfighting in space,” Guetlein said. “They are practicing tactics, techniques and procedures to conduct on-orbit operations from one satellite to another.”
Reporter’s Notebook: House vote on ‘big, beautiful bill’ could come as early as today
We are now in the range where the House could potentially debate and vote on the “big, beautiful bill.” A vote could come as early as later today or tonight. That may still be a little optimistic, but when things are ready, the House could vote at any time of the day or night between now and Sunday. The goal of House Speaker Mike Johnson, R-La., is to vote on the plan before Memorial Day. Fox is told that slamming this up against the holiday recess actually helps the GOP get votes, because members really want to get away for events, graduations and Memorial Day parades. SPEAKER JOHNSON REACHES TENTATIVE DEAL WITH BLUE STATE REPUBLICANS TO BOOST CAP ON ‘SALT’ DEDUCTION The House Rules Committee – which serves as the gateway to the House floor for legislation – began its meeting at 1 a.m. ET. It could go all day, but what we’re waiting for is a final “manager’s amendment” from Johnson to make all of the fixes to court the votes of skeptical Republicans. The key to that amendment is to repair things – and not break something else. REPUBLICAN GOVERNORS SAY THEY ‘STAND UNITED’ IN SUPPORT OF TRUMP’S ‘ONE BIG, BEAUTIFUL BILL’ There appears to be an agreement to raise the SALT cap (state and local taxes) for high-tax states.
Virginia Democratic Rep Gerry Connolly dead at 75
Rep. Gerry Connolly, D-Va., has passed away following a bitter cancer battle, his family announced on Wednesday. The lawmaker announced his initial diagnosis with esophageal cancer more than six months ago. He was 75 years old and had stepped back from his roles in Congress at the end of April. “It is with immense sadness that we share that our devoted and loving father, husband, brother, friend, and public servant, Congressman Gerald E. Connolly, passed away peacefully at his home this morning surrounded by family,” his family announced in a statement. “Gerry lived his life to give back to others and make our community better. He looked out for the disadvantaged and voiceless. He always stood up for what is right and just,” the family added. “He was a skilled statesman on the international stage, an accomplished legislator in Congress, a visionary executive on the Fairfax County Board of Supervisors, a fierce defender of democracy, an environmental champion, and a mentor to so many.” BIDEN SPEAKS OUT FOR FIRST TIME SINCE CANCER DIAGNOSIS Connolly’s colleagues mourned the congressman’s passing in statements soon after news of his death was made public. “I am heartbroken by the passing of my friend and colleague, Congressman Gerry Connolly. Gerry was a devoted public servant who spent over three decades serving the people of Virginia and our nation with unmatched dedication and purpose,” Rep. Mike Turner, R-Ohio, said in a statement. “Gerry’s legacy is one of intellect, integrity, and relentless dedication to the people of Virginia’s 11th District and to our allies abroad. His absence will be deeply felt, both in Congress and on the international stage,” Turner added. Sen. Mark Warner, a fellow Virginia Democrat, also shared his condolences with the Connolly family, saying he had known the lawmaker for more than 35 years. “Gerry was a fighter. His sharp mind, boundless energy, and deep commitment to the people of Northern Virginia made him a force to be reckoned with, whether on the Fairfax Board of Supervisors or in Congress. He met every challenge with tenacity and purpose, including his final battle with cancer, which he faced with courage, grace, and quiet dignity,” Warner said. Rep. Virginia Foxx, R-N.C., paused a House Rules Committee meeting for a moment of prayer upon learning of Connolly’s death. The longtime congressman’s death comes amid a heated battle in Congress over President Donald Trump‘s “big, beautiful bill.” His death means Democrats have one less vote with which to block the legislation. DEMS FUME OVER ‘DUE PROCESS’ FOR ABREGO GARCIA DESPITE LONG HISTORY OF PARTY BUCKING THE LEGAL PRINCIPLE Connolly had stepped back from his leadership roles in Congress and announced he would not run for re-election after revealing that his cancer had returned at the end of April. He served as ranking member on the House Oversight Committee. Connolly was serving his ninth term in the U.S. House of Representatives from Virginia’s 11th District, according to his online biography. His district is centered in Fairfax County and includes the wealthy suburbs outside the nation’s capital. Connolly won his latest term by defeating Republican Mike Van Meter, a Navy veteran and former FBI agent. Connolly has been a fixture in northern Virginia politics for roughly 30 years. He was first elected as a Fairfax County supervisor in 1995. In Congress, he has played a leading role in oversight investigations. Fox News’ Pilar Arias and Liz Elkind contributed to this report.
Youtuber Jyoti Malhotra’s case reminds of former diplomat Madhuri Gupta, honey trapped by ISI 15 years ago
Youtuber Jyoti Malhotra’s case reminds us of a former Indian diplomat, Madhuri Gupta, who was honey trapped by ISI and passed off information to her Pakistani handlers. She was at the center of a big espionage scandal that shocked the Indian bureaucratic system.
DOJ investigating Andrew Cuomo for allegedly lying about COVID decisions, source confirms
The U.S. Department of Justice has opened a criminal investigation into former New York Gov. Andrew Cuomo for allegedly lying to Congress about his decisions made during the COVID-19 pandemic while serving as governor, a source familiar with the probe confirmed to Fox News. The New York Times first reported that the U.S. attorney’s office in Washington opened the inquiry into Cuomo about a month ago after senior officials in the DOJ demanded an indictment of New York City Mayor Eric Adams for corruption charges be dismissed. The DOJ declined to comment to Fox News. The Trump administration is now in an unusual spot of ending a criminal case against Adams while opening a new case into Adams’ main rival within months of each other. Cuomo is running in the Democratic primary to serve as the next mayor of New York City, while Adams is seeking re-election as an independent candidate. HOUSE REPUBLICAN ASKS TRUMP DOJ TO CRIMINALLY PROSECUTE EX-NEW YORK GOV ANDREW CUOMO “We have never been informed of any such matter, so why would someone leak it now? The answer is obvious: This is lawfare and election interference plain and simple—something President Trump and his top Department of Justice officials say they are against,” Rich Azzopardi, Cuomo’s spokesperson told Fox News. “Governor Cuomo testified truthfully to the best of his recollection about events from four years earlier, and he offered to address any follow-up questions from the Subcommittee — but from the beginning this was all transparently political.” The former governor was grilled by Republican lawmakers last year about his handling of the COVID-19 pandemic. House Republicans subsequently recommended the Justice Department pursue criminal charges against him. They accused him of intentionally lying to Congress during the House Oversight Committee’s investigation into the excessive number of nursing home deaths. House Oversight and Government Reform Committee Chair James Comer, R-Ky., referred Cuomo to President Donald Trump’s Justice Department for criminal prosecution. BILL MAHER SUGGESTS ANDREW CUOMO’S NURSING HOME SCANDAL MAY COST HIS NYC MAYORAL CAMPAIGN Cuomo – the Democratic scion now considered the current frontrunner in the New York City Democratic mayoral primary in June – was first referred to the Biden Justice Department for criminal prosecution in October 2024. Former Rep. Brad Wenstrup, then-chairman of the House Select Subcommittee on the Coronavirus Pandemic, said Cuomo made “multiple criminally false statements” to Congress about his handling of the 2020 COVID-19 nursing home death scandal. Cuomo, who was governor at the time, issued a March 2020 directive that initially barred nursing homes from refusing to accept patients who had tested positive for COVID-19. The directive was aimed at freeing up beds for overwhelmed hospitals. More than 9,000 recovering coronavirus patients were released from hospitals into nursing homes under the directive, which was later rescinded amid speculation that it had accelerated outbreaks. SECOND COVID NURSING HOME DEATH’S CASE AGAINST CUOMO TOSSED The eight plaintiffs in the case argued that their loved ones contracted COVID-19 in nursing homes and died as a result of the directive. They accused Cuomo and his administration of being civilly liable for their deaths as well as being liable for failing to accurately report the number of nursing home deaths in New York state that resulted from the virus. Cuomo has previously said that the directive was based on the Centers for Disease Control and Prevention (CDC) and Centers for Medicare and Medicaid Services (CMS) guidance at the time. A report released in March 2022 by the New York state comptroller found Cuomo’s Health Department “was not transparent in its reporting of COVID-19 deaths in nursing homes” and it “understated the number of deaths at nursing homes by as much as 50%” during some points of the pandemic. In a letter to Attorney General Pam Bondi last month, Comer said “to our knowledge, the Biden Administration ignored this referral despite clear facts and evidence.” He requested that Bondi review the referral and “take appropriate action.” “Andrew Cuomo is a man with a history of corruption and deceit, now caught red-handed lying to Congress during the Select Subcommittee’s investigation into the COVID-19 nursing home tragedy in New York,” Comer said in a statement Monday. “This wasn’t a slip-up – it was a calculated cover-up by a man seeking to shield himself from responsibility for the devastating loss of life in New York’s nursing homes. Let’s be clear: lying to Congress is a federal crime. Mr. Cuomo must be prosecuted to the fullest extent of the law. The House Oversight Committee is prepared to fully cooperate with the Justice Department’s investigation into Andrew Cuomo’s actions and ensure he’s held to account.” Fox News Digital’s Michael Dorgan and Danielle Wallace contributed to this report.
Dem Rep McIver expected to make first court appearance after Newark incident
New Jersey Rep. LaMonica McIver will make her first court appearance Wednesday after being charged with assaulting two federal agents at an immigrant detention facility in Newark earlier this month. McIver was there with two other members of Congress on May 9 to conduct what they claimed were their congressionally-mandated oversight duties, as was Newark Mayor Ras Baraka, who was subsequently arrested following the incident but later had his charges dropped. The Democrat will now appear in front of a United States Magistrate Judge for the District of New Jersey at 11 a.m. and be read her rights and charges. The judge will then decide her bail package. “I think the charges are absurd. You know, it’s ridiculous. I was there to do my job along with my other colleagues. We have done this before. This is our obligation to do. It’s in our job description to have oversight over a facility. And the entire situation was escalated by ICE,” McIver said during an appearance on CNN Tuesday. BORDER CZAR TOM HOMAN SAYS DEMOCRAT LAMONICA MCIVER ‘BROKE THE LAW,’ SHOULD BE CHARGED FOR ICE CLASH “They caused the confrontation. Homeland came and caused this chaos that we see. It was a very tense situation, but it could have been easily not, it could’ve easily not happened. They had every opportunity to not allow this to happen. It was very unnecessary. And it just, once again, we were there to do our jobs,” she added. “And if I’m going to be charged with a crime for doing my job, it just speaks to where we’re headed in this country and what we are dealing with as leaders and as congress members, you know, here in this country.” A charging document cites bodycam footage from law enforcement officers who recorded events as McIver and two other New Jersey lawmakers stormed the ICE facility. Prosecutors say the first officer McIver allegedly assaulted was a Homeland Security Investigations agent, and the second was an ICE agent. The Justice Department accuses McIver of having “slammed her forearm into the body of a uniformed HSI agent and reached out and tried to restrain the agent by forcibly grabbing him.” The charging document also states that McIver “pushed an ICE officer & used her forearms to forcibly strike the agent.” DEMOCRAT LAWMAKER CHARGED WITH ASSAULTING FEDERAL AGENTS LAUGHS OFF FUNDRAISING QUESTIONS McIver rejected the charges in a public statement, arguing they are “purely political.” “Earlier this month, I joined my colleagues to inspect the treatment of ICE detainees at Delaney Hall in my district,” she wrote. “We were fulfilling our lawful oversight responsibilities, as members of Congress have done many times before, and our visit should have been peaceful and short. Instead, ICE agents created an unnecessary and unsafe confrontation when they chose to arrest Mayor Baraka.” Witnesses told The Associated Press that the arrest happened after Baraka attempted to join McIver and New Jersey Reps. Robert Menendez and Bonnie Watson Coleman when entering the facility. When federal officials denied Baraka access, an argument then broke out, the AP reported, citing an activist with the New Jersey Alliance for Immigrant Justice. Prosecutors said McIver helped create a “human shield” and blocked agents from handcuffing Baraka after he ignored numerous warnings to leave the property and was told he would be arrested. Fox News Digital’s Anders Hagstrom and Alec Schemmel contributed to this report.
Federal judge orders Trump administration to track deported immigrants to South Sudan
A federal judge ruled that President Donald Trump‘s administration must maintain custody of illegal immigrants deported to South Sudan in case he rules the removals unlawful and they must be transferred back to the U.S. U.S. District Judge Brian Murphy in Massachusetts issued the ruling Tuesday night after lawyers for illegal immigrants from Myanmar and Vietnam accused the Trump administration of illegally deporting their clients to third-party countries. They argue there is currently a court order blocking such removals. Murphy’s ruling said the government must “maintain custody and control of class members currently being removed to South Sudan or to any other third country, to ensure the practical feasibility of return if the Court finds that such removals were unlawful.” Attorneys for the immigrants argue that the deportations violated a court order mandating that migrants be granted “meaningful opportunity” to establish that sending them to a third country would make them unsafe. INCOMING TRUMP ADMIN, CONGRESS SHOWDOWN LOOMS WITH SOUTH AFRICA OVER SUPPORT FOR RUSSIA, US FOES The attorneys asked Murphy for an emergency court order to prevent the deportations. Murphy, who was appointed by President Joe Biden, previously found that any plans to deport people to Libya without notice would “clearly” violate his ruling, which also applies to people who have otherwise exhausted their legal appeals. Murphy said in his Tuesday order that U.S. officials must appear in court on Wednesday to identify the immigrants impacted, address when and how they learned they would be removed to a third country and what opportunity they were given to raise a fear-based claim. He also ruled that the government must provide information about the whereabouts of the migrants apparently already removed. TRUMP ADMIN MAKES NEW MOVE TO BRING SOUTH AFRICAN REFUGEES TO US AS PRESIDENT BLASTS NATION’S RULERS AGAIN The Department of Homeland Security did not immediately respond to a request for comment from Fox News Digital. Secretary of State Marco Rubio announced in April that the U.S. would revoke visas held by South Sudanese passport holders and no others would be issued, effective immediately. Rubio attributed the change to “the failure of South Sudan’s transitional government to accept the return of its repatriated citizens in a timely manner,” according to a statement posted on X. TRUMP ADMIN ENDS DEPORTATION PROTECTIONS FOR MASSIVE NUMBER OF VENEZUELANS AMID ILLEGAL IMMIGRATION CRACKDOWN The U.S. has third-party deportation agreements with only a handful of countries, the most prominent of which is El Salvador, which has accepted hundreds of Venezuelan illegal immigrants from the Trump administration. The East African country, founded in 2011, is on the verge of civil war, with escalating armed conflict, mass displacement and severe food insecurity. Previously, the U.S. Embassy in Khartoum, Sudan, suspended its operations to include visa, passport and other routine consular services on April 22, 2023. Fox News’ Alexandra Koch and The Associated Press contributed to this report
Marjorie Taylor Greene pushes bill to punish those who perform gender transition measures on minors
Rep. Marjorie Taylor Greene introduced a bill to punish those who perform gender transition measures on minors. “Left-wing activists and medical institutions are targeting America’s children with dangerous drugs, disfiguring surgeries, and permanent sterilization,” Greene said, according to a press release. “My bill stops the mutilation of kids and holds those responsible for performing or facilitating these barbaric procedures accountable.” The bill would punish those who commit chemical castration of minors, or perform or attempt to perform “genital or bodily mutilation” on minors in circumstances linked to “interstate or foreign commerce,” or when it occurs “within the special maritime and territorial jurisdiction of the United States, or any territory or possession of the United States.” REP. MARJORIE TAYLOR GREENE AIRS FRUSTRATIONS, WARNS THAT SHE REPRESENTS A ‘NOT HAPPY’ REPUBLICAN BASE The bill indicates that chemical castration refers to puberty blockers and supraphysiologic doses of testosterone and estrogen. The “Protect Children’s Innocence Act of 2025” would slap offenders with a fine, imprisonment of not over a decade, or both. The proposal would allow exceptions in certain circumstances, one of which would be if necessary for the minor’s health, though the measure stipulates that this “does not include a mental health disorder.” NEW HOUSE BILL WOULD MAKE TRUMP BAN ON TRANSGENDER TROOPS PERMANENT Markup for the measure in the House Judiciary Committee is scheduled for Tuesday. The proposal is supported by dozens of other House Republican cosponsors, Greene’s press release indicates. President Donald Trump issued an order earlier this year to help protect children from radical gender-ideology-related measures. US MASTERS SWIMMING UNDER INVESTIGATION AFTER TRANS ATHLETE TAKES FIVE WOMEN’S GOLD MEDALS AT TEXAS EVENT The order declares that “it is the policy of the United States that it will not fund, sponsor, promote, assist, or support the so-called ‘transition’ of a child from one sex to another, and it will rigorously enforce all laws that prohibit or limit these destructive and life-altering procedures.”
Pakistan promotes army chief Asim Munir to field marshal: Why it matters
Islamabad, Pakistan – Pakistan’s cabinet on Tuesday promoted Syed Asim Munir, the country’s chief of army staff, to the rank of field marshal, following the country’s recent military conflict with India. That short but intense confrontation had brought the South Asian neighbours to the edge of their fifth war, as they launched missiles and drones towards each other over four days in early May. Ultimately, a ceasefire on May 10, announced by United States President Donald Trump, pulled the nuclear-armed neighbours back from the brink after they each targeted the other’s military installations in missile strikes earlier that day. Both New Delhi and Islamabad claimed wins in the conflict. And Pakistan’s government has drawn a direct link between those clashes and its decision to promote Munir. So why was Munir promoted, what does the rank of field marshal signify, and what does the promotion portend for the future of Pakistan’s military leadership and its role in the country’s domestic affairs? Advertisement Why was Munir made field marshal? According to a statement from Prime Minister Shehbaz Sharif’s office, Munir was promoted in recognition of his leadership of the army, with “exemplary courage and determination,” and for devising a strategy to counter Indian attacks. “In recognition of his brilliant military leadership, courage, and bravery, ensuring Pakistan’s sovereignty and territorial integrity and courageous defence against the enemy, the cabinet approved the prime minister’s proposal to promote General Syed Asim Munir to the rank of field marshal,” the statement said. The cabinet also granted a second extension to Air Chief Marshal Zaheer Ahmed Babar Sidhu, currently in his fourth year as head of the Pakistan Air Force (PAF), following a previous extension. Talal Chaudhry, state interior minister, told Al Jazeera that the decision to promote Munir was based on his leadership. “The Pakistani military was engaged on two flanks, fighting the menace of terrorism on our western borders, and during that, they also had to fend off our adversary on eastern flank, which has one of the world’s largest armies, and yet under Munir’s leadership, we came out on top decisively,” Chaudhry said. Asim Munir, centre, is only the second army official to be promoted to the rank of Field Marshal in Pakistan’s military history. [Handout/Inter-Services Public Relations] How has Munir responded? In a statement issued by the Inter-Services Public Relations (ISPR), the military’s media wing, Munir said he was humbled by the honour and dedicated it to the “entire nation, the armed forces of Pakistan, especially the civil and military martyrs and veterans”. Advertisement “This is not an individual honour but an honour for the armed forces of Pakistan and the entire nation,” he said. A field marshal is the highest rank in armies – like Pakistan’s and India’s – that follow the British Army’s traditions. How rare is the field marshal rank? Very. In Pakistan, a full general – denoted by four stars – is usually the standard rank for the army chief and the chairman of the Joint Chiefs of Staff Committee (CJCSC), who convenes the heads of all three services: army, navy and air force. Although the CJCSC role is open to any of the three branches, only army generals have held the post since 1997, with General Sahir Shamshad the current incumbent in the role. Since gaining independence in 1947, Pakistan has had 17 army chiefs. Munir is only the second among them – after Ayub Khan – to be promoted to field marshal. Ayub Khan became army chief in 1951 and seized power in a military coup in 1958. A year later, he promoted himself to field marshal while appointing General Musa Khan as the new army chief. “A field marshal has his own insignia and their own stick which they carry with them. A field marshal does not have to respond to a salute, but instead they only have to wave the stick to acknowledge it,” Inam ul Rahiem, a lawyer and former military officer, told Al Jazeera. Once conferred, the field marshal rank is held for life. Does India have the field marshal rank, too? Yes, and it is as rare in India as it is in Pakistan. Since 1947, the Indian government has awarded the title of field marshal to two generals. Advertisement The first was General Sam Manekshaw, who received the rank in 1973 for his leadership during the 1971 war with Pakistan that India won and that led to the creation of Bangladesh. “Manekshaw led their army in exemplary fashion and the Indian Prime Minister Indira Gandhi, after the war, awarded him with the title of field marshal. Although he retired from the position of army chief in 1973, he retained the rank for the rest of his life, and attended official events in his uniform,” Rahiem said. The second was Kodandera M Cariappa, India’s first post-independence army chief. He was awarded the title in 1986, three decades after retiring. Cariappa, who led Indian forces during the country’s first war with Pakistan in 1947, was previously in the British Indian Army, like Ayub Khan. In fact, Khan served under Cariappa in 1945 when they were both posted in Waziristan, in present-day Pakistan. How powerful is Pakistan’s military? Pakistan’s army is considered the most powerful institution in the country, wielding deep influence across nearly every sphere of society. It has ruled the country directly for more than three decades since independence in 1947. The army chief is widely seen as the single most powerful position in Pakistan, often overshadowing the elected civilian government. The military has long faced allegations of manipulating election results to support favoured candidates. Munir’s predecessor, General Qamar Javed Bajwa, acknowledged the military’s history of political interference in his farewell speech in November 2022 but said that such meddling had ended. Advertisement But under Munir, the Pakistani military has been accused by leaders of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaaf party of cracking down on the group’s leaders, including Khan. In Pakistan’s 2024 election, the PTI alleged widespread rigging, even
Politicians embrace crypto
[unable to retrieve full-text content] World leaders are betting big on crypto. But are they innovating or exploiting their supporters’ trust?