🗞️No National Guard troops to San Francisco

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October 23rd, 2025

What happened today 🇺🇸,

• President Trump has backed away from his previous plan to deploy National Guard troops to San Francisco after having conversations with local leaders including San Francisco Mayor Daniel Lurie and influential figures in the tech industry such as Salesforce CEO Marc Benioff and Nvidia CEO Jensen Huang

• The White House announced that President Trump will meet with China’s President Xi Jinping on Thursday, October 30th, the meeting will take place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea

• The Senate blocked a Republican-led bill aimed at paying “essential” federal workers during the ongoing government shutdown, only three Democrats joined Republicans in supporting the bill, which would have provided pay to employees like military personnel, border patrol, and TSA workers despite the shutdown… Democrats opposed the measure, arguing it was too selective and that all federal workers, including furloughed staff, should be paid

• Two House Democrats committee leaders have launched a formal investigation into President Trump’s push for the Justice Department to pay him $230 million in damages for past federal investigations into him

• An FBI investigation uncovered two major illegal gambling operations involving the NBA, one where players and coaches provided insider information on player injuries and game plans to place fraudulent bets and another where NBA coaches like Chauncey Billups were involved in rigged underground poker games run by Mafia families…these schemes went several years and involved wire fraud, money laundering, and led to the arrest of over 30 individuals

• The White House has released a list of major donors funding President Trump’s multi-million-dollar ballroom, which will be privately financed without taxpayer dollars…the top contributors include Apple, Amazon, Lockheed Martin, Microsoft, Google, Coinbase, Comcast, Meta, Booz Allen Hamilton, Altria Group, Tyler and Cameron Winklevoss, and the Adelson family

• President Trump has pardoned Changpeng Zhao, better known as CZ, who is the founder of the cryptocurrency exchange Binance…CZ had pleaded guilty in November 2023 to violating the Bank Secrecy Act by enabling money laundering

• Current NYC Mayor, Eric Adams, has formally endorsed former NY Governor Andrew Cuomo in the NYC mayoral race

• Target announced plans to cut about 1,800 corporate jobs, including laying off around 1,000 employees and eliminating 800 open positions, representing an 8% reduction of its global corporate workforce

• The average 30-year fixed mortgage rate fell to 6.19% for the week ending October 23rd, down from 6.27% the previous week…this marks its lowest level in more than a year

• DOW up .31% / S&P up .58%

• Chinese state-owned oil majors PetroChina, Sinopec, CNOOC, and Zhenhua Oil have temporarily suspended their seaborne purchases of Russian oil following the U.S. sanctions

Plus: A look at the top countries driving ChatGPT traffic

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Quote of the day: “Change brings opportunity.” - Nido Qubein

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