In the aftermath of devastating floods in the Texas Hill Country, recovery efforts are underway — but it’s not FEMA leading the charge. Faith-based volunteers, churches, and local community members have stepped up as the primary force helping families rebuild.
Billions have been awarded in opioid settlements — but who’s making sure the money helps those most affected? A new public database hopes to shine light on how states are spending these critical funds.
As we enter the Three Weeks of national mourning, Rabbi Dr. Jacob J. Schacter challenges us to consider: how do we “remember” events we never lived through? His answer reveals the deeper meaning of Jewish memory.
A new exploit bypassing global telecom security has allowed a Middle Eastern surveillance vendor to secretly track phone users’ locations. What this says about digital privacy, and why Torah values demand vigilance.
The world mourned the iconic Sycamore Gap tree—but with billions of trees lost each year, are we overlooking the real crisis? A Torah reflection on environmental values and the deeper meaning of creation.
President Trump sues The Wall Street Journal over a controversial story linking him to Jeffrey Epstein, alleging defamation and billions in damages. The case raises deep questions about truth, media responsibility, and public trust.
Nearly two weeks after flash floods tore through Texas Hill Country, the community is rallying — not only through official government channels, but largely thanks to the dedication of volunteers and religious groups who have taken the lead in rebuilding.
The Federal Emergency Management Agency (FEMA) has now mobilized teams in affected regions, though questions about its preparedness remain following recent staff reductions and an exposed lapse in contract renewals that temporarily crippled their disaster helpline — as reported by The New York Times. Some have also recalled past calls from President Trump to restructure or potentially dismantle the agency altogether.
Despite these concerns, FEMA has opened a service center in Kerrville. Patsy Bell, whose home suffered rain and wind damage during the July 4 storm, expressed gratitude for their assistance. “They got me to the right places to speak with the right people,” she said, adding that FEMA approved a grant and temporary housing assistance. “They’ve been a real help to me and my family.”
However, in more remote communities like Hunt — where key infrastructure such as the post office and general store were lost — FEMA has yet to establish a local presence. Instead, contractors have begun visiting residents to assess claims. Bonnie Spillers, whose home was swamped, said FEMA’s representative spent nearly an hour at their property, well beyond expectations.
Still, residents overwhelmingly agree: the first wave of relief didn’t come from the federal government — it came from faith-based organizations.
Groups like Samaritan’s Purse, an evangelical Christian relief organization, were among the earliest responders. “And then church friends, and then family,” Spillers recalled. “We had twenty people working on the property for several days.”
Throughout the flood zone, church groups and volunteers are omnipresent. Teams on horseback search debris. Mobile kitchens brought by distant congregations feed volunteers and survivors. Two local churches in Hunt have become bustling donation centers, filled with clothes, food, and cleaning supplies.
“If we wanted to, we could open our own thrift store,” said Sheree Harris, wife of the pastor at Hunt United Methodist Church. The church — which sits above the flood line — now also serves as a command center for groups like the Red Cross, offering emotional and financial aid to those affected.
“We’re going to be here until the need is gone,” Harris said. “That’s what we’re here for: to serve. That’s what Jesus told us — love your neighbor.”
Specialized volunteers have also joined efforts, including “hard hat” divers typically employed on oil rigs, now navigating the river to assist in search-and-recovery missions. Organized by the nonprofit Heroes 4 Humanity, the divers work in coordination with cadaver dog teams led by state and border patrol agents.
John Taylor, speaking for the nonprofit, emphasized the spiritual motivation behind the work: “We are here on behalf of the Lord to provide search, rescue, and recovery.”
When remains are discovered, Taylor’s team alerts local emergency operations, leaving the final recovery to authorities. “At the end of the day,” he said, “it’s the local officials who make the call.”
After years of litigation, U.S. states have secured over $50 billion in opioid-related settlements from pharmaceutical companies held responsible for fueling the addiction epidemic. The funds were hailed as a victory — with some state attorneys general showcasing the deals as part of their public service legacy.
But now, as this money begins to flow into state and local budgets, families impacted by the crisis, along with public health advocates and researchers, are asking a difficult question: Is the money being spent in a way that honors those we lost and supports those still struggling?
Toni Torsch, a mother from Maryland who lost her 24-year-old son to an overdose, put it bluntly: “This is blood money. It can’t bring our loved ones back, but it must count for something.”
With concerns mounting over a lack of transparency, two advocacy organizations — the Opioid Policy Institute and Popular Democracy — have launched a crowdsourced public database. This new tool allows citizens to report suspected misuse, waste, or diversion of opioid settlement funds. Early entries include local governments spending settlement money on non-recovery-related items like county infrastructure or jail equipment — examples that many feel miss the purpose of the funds.
Jonathan Stoltman, director of the Opioid Policy Institute, oversees the database. He says while decisions about what qualifies as “misuse” may draw debate, the project is backed by research and aims to empower communities to hold officials accountable.
The site also provides guidance on how to file complaints with state attorneys general and encourages these offices to establish official oversight channels. Currently, only three states have created specific reporting procedures for opioid settlement misuse.
Stoltman and co-lead attorney Frank Kearl hope this initiative will serve as a “wake-up call” for public officials to act with greater transparency and moral responsibility. “If you’re going to claim victory for securing these settlements,” Stoltman asks, “what are you doing to ensure the money is spent in ways that heal?”
Some states, like Oklahoma and Michigan, are beginning to respond. Oklahoma introduced a dedicated complaint form this year. Michigan has committed to doing so before the year ends. But in many others, officials have deflected responsibility, pointing to legislatures or local governments as the final decision-makers.
This lack of coordination is particularly concerning in light of recent events. For example, New Jersey lawmakers recently redirected $45 million of settlement funds to hospitals to cover anticipated federal Medicaid cuts — a move that recovery advocates argue leaves little for those directly impacted by the opioid crisis. Similar budget gap proposals have surfaced in North Carolina, Connecticut, and Nevada.
The challenge is complex: while some officials say they lack the legal authority to intervene, others, like Arizona’s Attorney General, have tried and been blocked by the courts.
Meanwhile, many families — like Torsch’s — are left feeling disillusioned. “We shouldn’t just be focused on winning more lawsuits,” she says. “We need to make sure the money we’ve already received is saving lives, not getting lost in bureaucracy.”
Ultimately, as the settlement funds continue to be distributed over the next two decades, advocates hope this new database will restore some measure of public trust — not through punishment, but through accountability and meaningful help for those still living with the consequences of the crisis.
We are now in the somber period of the Jewish calendar known as Bein HaMetzarim—the Three Weeks—beginning on the 17th of Tammuz and culminating with Tisha B’Av, the 9th of Av. During this time, we recall the most devastating tragedies in our collective history, most notably the destruction of the First and Second Temples in Jerusalem—first by the Babylonians in 586 BCE, then by the Romans in 70 CE.
But what does it mean to remember events we never witnessed with our own eyes?
We are now in the somber period of the Jewish calendar known as Bein HaMetzarim—the Three Weeks—beginning on the 17th of Tammuz and culminating with Tisha B’Av, the 9th of Av. During this time, we recall the most devastating tragedies in our collective history, most notably the destruction of the First and Second Temples in Jerusalem—first by the Babylonians in 586 BCE, then by the Romans in 70 CE.
But what does it mean to remember events we never witnessed with our own eyes?
That very question lies at the heart of Rabbi Dr. Jacob J. Schacter’s thought-provoking video series, The Jewish Meaning of Memory. In this eight-part course—offered free to the public by the Tikvah Fund—Rabbi Schacter explores how Jewish memory transcends personal experience. Through Torah, history, and tradition, we are invited to enter the pain, meaning, and responsibility of our ancestors, forging spiritual continuity across generations.
To elevate reflection during this sacred season, Tikvah has made the first episode of the course available this week at courses.tikvah.org. It’s an opportunity to deepen not just our historical awareness, but our neshama’s connection to Klal Yisrael.
In an age where forgetting is easy and distraction is constant, Jewish memory becomes an act of spiritual resistance—refusing to sever our link to the past, and insisting on carrying it with honor into the future.
To elevate reflection during this sacred season, Tikvah has made the first episode of the course available this week at courses.tikvah.org. It’s an opportunity to deepen not just our historical awareness, but our neshama’s connection to Klal Yisrael.
In an age where forgetting is easy and distraction is constant, Jewish memory becomes an act of spiritual resistance—refusing to sever our link to the past, and insisting on carrying it with honor into the future.
Cybersecurity experts have uncovered a sophisticated surveillance exploit that allows certain operators to secretly track people’s phone locations—without their consent. According to new research, the method bypasses longstanding security measures in the global cell network’s SS7 (Signaling System 7) protocol, a decades-old system still used by phone carriers to route calls and texts internationally.
The exploit was traced back to a surveillance company operating in the Middle East. Researchers at Enea, a firm specializing in telecom security, observed the company using this SS7 bypass as early as late 2024. While the surveillance only targeted a small number of individuals, the implications are vast: the exploit enables tracking someone to the nearest cell tower, which in cities could mean within a few hundred meters.
Although Enea did not name the surveillance vendor involved, it confirmed the exploit was in active use and warned that these tactics are becoming increasingly common. “They wouldn’t be using these methods if they weren’t working somewhere,” said Cathal Mc Daid, Enea’s VP of Technology.
SS7 vulnerabilities have long been a concern. The protocol’s original design predates the modern era of cyber threats, and while many telecom companies have since implemented firewalls and advanced monitoring tools, the global network remains unevenly protected. This leaves openings for malicious actors—especially those with connections to telecom infrastructure or governmental partnerships.
Surveillance vendors—often private companies serving governments—claim their tools are aimed at tracking serious criminals. However, past reports have shown that such technologies have been misused to monitor journalists, dissidents, and everyday citizens, sometimes beyond legal or moral boundaries.
The specific attack observed by Enea relies on deceptive requests to telecom providers, tricking them into revealing which cell tower a device is connected to. In practice, this can translate to real-time location tracking of a person, without any warning or visible sign.
The troubling reality is that individual users cannot easily protect themselves from this kind of surveillance. These attacks happen at the network level, meaning that defense must come from the carriers and the broader telecommunications infrastructure—not end users.
Government documents obtained last year reveal that this isn’t a new threat. A 2017 letter from the U.S. Department of Homeland Security acknowledged that countries such as China, Iran, Russia, Israel, and Saudi Arabia have all exploited SS7 weaknesses to target users on American soil. Despite this, many parts of the global telecom network remain exposed, particularly in regions without strong oversight.
From a Torah perspective, such invasive surveillance raises moral questions. The Torah values tzeniut (modesty) and kavod habriyot (respect for human dignity), both of which are compromised when private information is taken without consent. As the digital world expands, the responsibility falls not just on individuals, but also on governments and companies to uphold privacy and protect the vulnerable.
This story serves as a reminder that while technology can bring nations closer, it also calls for greater ethical accountability. In an age where the invisible eye watches silently, the Torah teaches us to act with integrity—even, and especially, when no one else is watching.
In September 2023, a symbolic act of destruction shocked many: the felling of the Sycamore Gap tree beside England’s Hadrian’s Wall. This lone tree, standing for 150 years, had become a beloved national icon — shading weddings, proposals, and moments of reflection for generations. Its loss ignited public grief and anger across the UK.
But beneath that emotion lies a deeper question: Why was there only one tree in such a vast, open space? Much of the British countryside — once lush with birch, pine, aspen, and hazel — has long been stripped of its natural forests, largely to make way for agriculture and lumber. The Sycamore stood not just as a symbol, but also as a reminder of what was lost.
While the two men convicted of sawing it down in just three minutes — Daniel Graham and Adam Carruthers — were sentenced to four years in prison, some have questioned whether restorative justice, such as planting saplings, might have offered a more meaningful path forward.
The case has sparked wider reflection. It is easier to grieve the loss of a single, visible symbol than to confront the vastness of global deforestation. Britain’s uplands, for example, are often grazed bare by sheep, which researchers say severely limit plant diversity. This isn’t just an aesthetic issue — it impacts biodiversity, water cycles, and ecological resilience.
Environmental grief often coalesces around symbols — like Fiona, the “loneliest sheep” rescued from a cliffside cave — while systemic ecological harm continues. Meanwhile, some environmental activists advocating for broader change are met with legal crackdowns, even as governments pledge climate leadership.
But moments like the Sycamore Gap reveal something deeper: a collective sadness over the growing disconnect between humanity and the natural world. From ancient times, trees were vital — for food, warmth, shelter, and tools. Torah tradition honors trees deeply, even comparing human beings to trees of the field (Devarim 20:19). Our sages teach us to care for creation, preserve its beauty, and avoid needless destruction (bal tashchit).
Modern history, however, tells a different story. Entire forests in New Zealand, Malaysia, Indonesia, Brazil, and the United States have been leveled in just a few generations. Ancient woodlands — once revered — were turned into lumber, farmland, and profit. In the U.S. alone, centuries of natural forest growth were erased in just 150 years. Today, policy changes may accelerate logging on 280 million acres of public land, further risking fragile ecosystems.
Globally, 15 billion trees are cut down each year, a quarter of them permanently. Most are sacrificed for industrial farming, mining, and infrastructure — often with little thought to long-term consequences.
Though the motives of Graham and Carruthers remain unclear (the defense cited drunken recklessness), the outcry over the Sycamore Gap is ultimately a yearning to return to a world where trees are honored, not harmed. In response, the UK’s National Trust launched the “Trees of Hope” initiative, distributing 49 saplings grown from the Sycamore’s seeds to be planted across the country.
May these new trees stand not just as replacements, but as reminders of our sacred duty to protect the Earth. The Torah teaches that we are stewards, not owners, of creation. Perhaps the true lesson of this moment is not to punish symbolically — but to restore meaningfully.
President Donald Trump has filed a defamation lawsuit against The Wall Street Journal, accusing the paper of publishing a fabricated and damaging story that falsely links him to Jeffrey Epstein.
The article in question, published Thursday evening, claims Trump allegedly sent a birthday letter to Epstein in 2003 — a letter said to be decorated with the silhouette of a nude woman and ending with the phrase: “Happy Birthday — and may every day be another wonderful secret.” Trump has firmly denied authoring such a letter.
In response, the 18-page legal complaint filed Friday states that the Journal’s publication caused severe financial and reputational harm to the former president, and seeks billions of dollars in damages.
According to the lawsuit, “Defendants concocted this story to malign President Trump’s character and integrity and deceptively portray him in a false light.”
The suit, filed in federal court in Miami, names a broad list of defendants, including the two reporters involved, The Wall Street Journal, Dow Jones, News Corp, Rupert Murdoch, and News Corp CEO Robert Thomson.
Prior to the article’s release, Trump reportedly warned the publication of impending legal action, and reaffirmed that warning once the piece was made public.
On his platform Truth Social, Trump wrote:
“This lawsuit is filed not only on behalf of your favorite President, ME, but also in order to continue standing up for ALL Americans who will no longer tolerate the abusive wrongdoings of the Fake News Media.”
He added,
“I hope Rupert and his ‘friends’ are looking forward to the many hours of depositions and testimonies they will have to provide in this case.”
The suit adds to a growing list of Trump’s legal pushbacks against major media outlets. Earlier this year, CBS reportedly settled for $16 million following a dispute over a “60 Minutes” segment involving Vice President Kamala Harris. Last year, ABC News also settled over comments from one of its anchors regarding a civil verdict related to Trump.
As of now, News Corp has not issued a public response.
Closing Torah Insight:
From a Torah perspective, lashon hara — harmful speech, especially when false or speculative — is a grave transgression (see Chafetz Chaim, Hilchot Lashon Hara 1:1). While political leaders must be held accountable, the pursuit of truth must never become a license for public shaming or character assassination. As our sages teach, “Dan l’kaf zechut” — judge others favorably — is not just an ideal, but a safeguard for a healthy society. In an age of quick headlines and slower facts, the line between truth and harm must be guarded with wisdom, humility, and righteousness.
Amid ongoing conflict and the heavy toll of war, Ukrainian President Volodymyr Zelenskyy has appointed Yulia Svyrydenko as the nation’s new prime minister — marking the first leadership shift at this level since Russia’s full-scale invasion in 2022.
Svyrydenko, 39, previously served as Ukraine’s economy minister and has played a central role in forging ties between Kyiv and Washington. Most notably, she helped secure a recent U.S.-Ukraine agreement on critical mineral development — a deal intended not just for economic benefit, but to intertwine American interests with Ukraine’s long-term stability and independence.
Her promotion comes just days after Ukraine confirmed plans to receive increased U.S. military support, and as former Prime Minister Denys Shmyhal transitions into the role of defense minister. With the war’s intensity showing no sign of slowing and global focus divided across multiple crises, Zelenskyy appears to be strengthening his core team rather than introducing new faces — choosing reliability and experience in a time of uncertainty.
Svyrydenko’s mission is clear. “War leaves no room for delay,” she stated on social media. “We must act swiftly and decisively.” Her top priorities include bolstering the army’s supply chain, expanding domestic weapons manufacturing, and advancing technological innovation within Ukraine’s defense systems.
Meanwhile, President Trump — now returned to the White House — has endorsed a plan for European allies to purchase U.S. air-defense systems and transfer them to Ukraine. He also issued a warning to Russia’s President Putin, threatening tariffs on oil exports if a ceasefire is not reached within 50 days. Whether such pressure will bear fruit remains to be seen.
President Zelenskyy addressed Ukraine’s parliament, acknowledging both the hunger for peace and the growing challenge of maintaining international support:
“We all want peace as soon as possible,” he said. “But with other wars erupting globally, the world’s focus is scattered. This means Ukraine must become more self-reliant.”
The outgoing Prime Minister Shmyhal, who held the post since 2020 — the longest tenure in Ukraine’s history — will now replace Rustem Umerov as defense minister. Umerov’s time in office was marred by administrative challenges and accusations of inefficiency, despite efforts at reform.
Further solidifying Ukraine’s foreign policy strategy, Zelenskyy also appointed Olga Stefanishyna, previously the minister for European integration, as special representative for U.S. cooperation. She is expected to soon be named Ukraine’s new ambassador to the United States, replacing Oksana Markarova.
Closing Note (Torah-Oriented):
From a Torah perspective, leadership during times of war demands more than strategy — it calls for clarity, faith, and moral integrity. Just as Moshe Rabbeinu was commanded to appoint leaders who could bear the weight of the people (Shemot 18:21), Ukraine’s reshuffling reveals the burden of choosing those who can stand firm amid darkness. May the world remember that true peace is not merely a pause in conflict, but a restoration of justice, dignity, and the sanctity of life.
Question:
In light of today’s social tensions, several young observant Jews—particularly students and professionals—have asked whether they should continue wearing a kippa in public, especially on college campuses or in workplaces where it might expose them to discomfort or hostility. What does halacha say about this, and how should we respond?
Answer:
This is a heartfelt and timely question. Let us explore what Torah sources teach about head coverings, and how those teachings may apply today.
What Do Our Sources Say About Wearing a Kippa?
The Talmud discusses head coverings in three core contexts:
From these, we see that while a kippa is not strictly a Torah-level commandment in every setting, it has long symbolized yirat shamayim (awe of Heaven) and spiritual awareness. Over time, this behavior, once practiced primarily by pious individuals, became the norm for observant communities.
Historical and Cultural Considerations
In 15th-century Germany, Rabbi Yisrael Isserlein (the Mahari Bruna) noted that removing one’s head covering was considered a religious custom of non-Jews. Therefore, he ruled that Jews should avoid it, as it could fall under chukot hagoyim—the Torah prohibition of imitating non-Jewish religious customs. Later halachic authorities, such as the Taz, supported this view, while others, like the Magen Avraham, were more lenient, especially in regions where head covering wasn’t seen as a religious act.
In contrast, in many Muslim cultures where head coverings are common, this concern didn’t apply, illustrating that halacha takes into account local societal norms.
Modern Applications and Rav Moshe Feinstein’s Guidance
In the 20th century, Rav Moshe Feinstein addressed workplace situations where wearing a kippa could lead to professional loss. He ruled that, when truly necessary, one could rely on the opinion that wearing a kippa is a middat chassidut (a pious practice), rather than an absolute obligation. However, he also emphasized that one must still wear a head covering during blessings or prayer when possible.
Importantly, Rav Moshe’s ruling referred primarily to formal job settings where removing a head covering was required. Casual discomfort or cultural pressure did not suffice to override the practice.
As for college campuses, leniency is rarely granted. Most environments today allow for alternatives like baseball caps, which can fulfill the basic halachic requirement in less welcoming situations. Taking off a cap while seated, if expected by etiquette, may be permitted briefly, as some rabbis have noted.
Navigating Today’s Antisemitic Climate
Understandably, recent events—including rising antisemitism following global conflicts—have caused some to reconsider outward expressions of Jewish observance. Historically, many Jews concealed their religious identity in professional spaces, particularly before the 1970s. Yet even then, most did not abandon Jewish practice entirely—only the external symbols.
Today, rabbinic consensus in the United States has not shifted dramatically in response to current fears. Most halachic authorities still encourage maintaining Jewish visibility with dignity, while recognizing that each person’s situation is unique.
For those with serious concern—such as actual threats, trauma, or vulnerability—it is appropriate to consult a personal rabbi for tailored guidance. Variables such as physical appearance, demeanor, location, and risk level should be thoughtfully considered.
Final Thought
Wearing a kippa is more than tradition—it is a reminder of Who is above us. Yet Torah does not demand recklessness. The balance between personal safety and Jewish pride is one that each individual must navigate, ideally with rabbinic counsel and inner strength.
As we walk with Torah in a complex world, let us remember the verse: “Shiviti Hashem l’negdi tamid”—“I place Hashem before me always.” Whether in courage or caution, may our choices be rooted in truth, dignity, and devotion.
Member of Knesset Hamad Amar, a Druze representative of the Yisrael Beytenu party, crossed into Syrian territory on Wednesday with the coordination of the Israel Defense Forces. The mission, according to Amar, was a humanitarian effort to help safely evacuate young members of the Druze community caught in the escalating conflict.
Speaking in an interview with Kan Reshet Bet on Thursday, Amar described the situation as dire and emotionally devastating.
“I returned tonight from Syria after helping bring young people back safely,” Amar stated. “I entered with the IDF at their request, to help reduce risk to Druze youth who were in immediate danger.”
Amar emphasized the severity of the violence taking place across the border. “What I saw is tragic,” he said. “There are people committing unspeakable acts under the direction of radical leaders. This is not just a military conflict—it is becoming a religious persecution. Druze civilians are being targeted simply because of who they are.”
He expressed deep concern over the growing influence of Abu Muhammad al-Julani, leader of the extremist group Hayat Tahrir al-Sham, who is believed by some to be operating behind the scenes of the recent violence in Sweida and other parts of southern Syria.
“This figure may be seen in some political circles as a stabilizing force, but we need to be honest about what’s happening,” Amar warned. “The people carrying out these atrocities operate under his ideology. The tanks, the soldiers, the tactics—they all reflect a dangerous worldview.”
Amar responded to Julani’s public condemnation of the violence, saying such statements cannot be taken at face value. “Condemnation after the fact doesn’t erase responsibility,” he said. “Leadership means accountability, especially when those under your influence commit such acts.”
When asked whether Israel should intervene further on behalf of Syrian Druze, Amar reflected on the unique bond between Jews and Druze in Israel. “My brother’s brother is my brother,” he said. “Just as I stand for every Jew, I stand for every Druze. Our connection is not only political—it is human, and it is moral. We cannot turn our eyes away.”
He concluded by urging Israeli society to remain alert to developments just across the border. “We are not removed from this. If hatred and extremism grow unchecked in our region, it affects all of us. We must respond not just with strength, but with values.”
Closing Note:
As regional violence continues to escalate, voices like MK Hamad Amar’s call for both compassion and vigilance. At KodeshNews, we are reminded that the Torah teaches us not to stand idly by while our neighbor’s blood is shed. Whether Jew or Druze, every soul is sacred—and our moral clarity must guide our response to injustice.
In a major milestone for digital finance, Congress has passed a groundbreaking law regulating stablecoins — cryptocurrencies designed to mirror the value of the U.S. dollar. With broad bipartisan support and backing from President Donald Trump, this legislation marks the federal government’s first direct regulation of the fast-growing stablecoin market, valued at over $265 billion.
The bill, now headed for final approval, creates a clear oversight framework for stablecoins — whether regulated federally or at the state level. Supporters argue this will legitimize the technology and expand its everyday use, especially for faster, lower-cost payments and international money transfers. Analysts at Citigroup project the market could surge to $3.7 trillion by 2030.
President Trump actively pushed for the bill’s passage, making it the centerpiece of what he’s calling “Crypto Week.” A second bill aimed at broader cryptocurrency regulations has also passed the House and now awaits Senate consideration.
🪙 A Political Turning Point for Crypto
This moment represents a significant evolution for the crypto industry, which just a few years ago was shaken by the collapse of major platforms like FTX. Since then, digital asset firms have invested heavily in rebuilding trust and aligning with policymakers. The stablecoin legislation is now being seen as the crypto world’s first major step into the political mainstream.
Despite its momentum, the bill hasn’t come without criticism. Lawmakers like Sen. Elizabeth Warren and Rep. Maxine Waters voiced concerns that the measure could expose consumers to risk and potentially lead to government bailouts if digital coin issuers fail.
🏦 Banking Sector Signals Concern
Top executives from JPMorgan, Bank of America, and Citigroup expressed concern this week that stablecoins could disrupt traditional banking — especially in how deposits and payments are handled. As customers turn toward digital wallets, these banks are already exploring ways to stay competitive, including launching their own digital dollar alternatives.
From cross-border remittances to retail purchases, the use of stablecoins is expanding rapidly. Tech companies, card networks, and even banks may soon issue their own blockchain-based tokens. Many of the industry’s biggest players are now racing to adapt to this new reality.
📈 Winners & Market Reactions
Among the companies poised to benefit immediately are U.S.-based stablecoin issuers like Circle Internet Group, which saw its stock climb 25% this week. Coinbase, which has a partnership with Circle, also rose to a new record high.
Bitcoin, meanwhile, saw a slight dip after reaching an all-time high of $123,000 earlier this week — a surge partially fueled by optimism around the bill’s passage.
🧾 The Law’s Requirements
The bill introduces clear standards for stablecoin issuers, requiring them to hold dollar-for-dollar reserves in safe, short-term investments like U.S. government debt. These reserves must be overseen by federal or state regulators.
Economist Eswar Prasad, of the Brookings Institution, said the bill gives the industry “the legitimacy it has long craved” while maintaining “relatively light-touch” oversight — a balance many see as pragmatic but others worry may be too lenient.
🕊️ KodeshNews Reflection: Wealth, Power & Responsibility
The Torah reminds us that “You shall have honest balances, honest weights” (Vayikra 19:36). As our economy moves from metal coins to code-based currencies, this principle becomes even more essential.
This bill may offer efficiency and innovation, but it also raises ethical questions. Who controls these digital currencies? Will stability and transparency be maintained? And how do we prevent wealth from concentrating even more tightly in the hands of the few?
It’s noteworthy that the Trump family, through various ventures like World Liberty Financial, stands to benefit financially from this legislation — a concern some Democrats tried unsuccessfully to address through ethics provisions.
We are entering a new financial era. Whether it’s called crypto, stablecoins, or digital dollars, the Jewish view calls for just weights, economic fairness, and compassionate systems that protect the vulnerable — not just the powerful.
