×
FOLLOW THE WEEK ON FACEBOOK
June 14, 2018
MICHAL CIZEK/AFP/Getty Images

After losing his spot in the White House and getting pushed out of Breitbart, Stephen Bannon has gravitated toward another band of outsiders.

He's investing in Bitcoin.

President Trump's former chief strategist has taken a stake in the cryptocurrency, he told The New York Times. Bitcoin breaks the rules, shatters the system, and "takes control back from central authorities," Bannon says — kind of like his far-right politics.

Bitcoin is popular within the alt-right fringe Bannon hangs around. Cryptocurrency payments bypass mainstream systems such as PayPal, which shut down connections to white supremacist sites last year, per the Times.

Bannon's White House history has leaked into his new investment as well. He's thinking of creating his own "deplorables coin," a cryptocurrency named for Hillary Clinton's unforgettable description for some supporters of President Trump in the 2016 election. And with one Bitcoin's value hovering around $6,500 today, Bannon probably won't need a whole basket to turn a profit. Kathryn Krawczyk

4:51 p.m. ET
Bill Pugliano/Getty Images

Alexandria Ocasio-Cortez stunned the nation when she defeated longtime Rep. Joe Crowley (D-N.Y.) in a Democratic primary back in June. In vanquishing Crowley, who held the fourth-highest position in Democratic House leadership, Ocasio-Cortez showed the appeal a political newcomer can have in a party increasingly fed up with its old ways.

But Washington Post reporter Seung Min Kim exposed the potential pitfalls of Ocasio-Cortez's greenness in a tweet Friday, calling out the probable congresswoman for holding a public event that was closed to the press. Kim tweeted out a story from the Queens Chronicle, a local paper in the district Ocasio-Cortez is hoping to represent this fall, that noted, "Unless you were in the room Sunday, you won't know what specific community problems were mentioned. ... That's because her campaign banned members of the media from attending the event, which was otherwise open to the public."

Kim noted that Ocasio-Cortez would be "in for a rough time on Capitol Hill" if her preference is to avoid reporters. When Ocasio-Cortez's campaign said it "wanted to help create a space where community members felt comfortable," the reporter noted that the campaign could've just made the event entirely private to ensure that.

Ocasio-Cortez herself eventually responded to Kim's tweets, writing that because the community is "50 percent immigrant" and includes "victims of [domestic violence], trafficking, and ... personal medical issues," the event was "designed for residents to feel safe discussing sensitive issues in a threatening political time." She also noted that her campaign had told press in advance that they were not welcome at the event. Kim responded: "You cannot ban members of the press from events that are otherwise open to the public. ... Period."

Ocasio-Cortez is virtually guaranteed to prevail in the general election in New York's heavily Democratic 14th District. Read the original Queens Chronicle article here. Kimberly Alters

3:43 p.m. ET
Mark Wilson/Getty Images

Paul Manafort's trial is coming to an end with some curious new developments.

Manafort, President Trump's former campaign chairman, is facing 18 charges of tax evasion, money laundering, and bank fraud. The jury has been deliberating since yesterday, after the prosecution made its case for two weeks and the defense decided not to call any witnesses. But the judge overseeing the trial, T.S. Ellis, emphasized Friday that those jurors will remain anonymous through the entire process, telling reporters he'd "received threats" and didn't want the jury to experience the same.

BuzzFeed News reports that Ellis denied a request to release the names of the jurors, saying "in a case of this notoriety," publicizing the names would cause people to "be scared." He said that he has been living with "the [U.S. Marshals'] protection at all times, they go where I go. I don't even go to the hotel alone," but added that he was surprised by the threats. "I had no idea this case would excite these emotions, I will tell you frankly," he said.

While Ellis said in the morning that he expected the jury to announce a verdict by the end of the day, it appears the jurors are not pleased to have given up their summer Friday hours. Jurors reportedly sent a note to the judge that said they want to leave no later than 5 p.m., and Manafort's attorney told Fox News that the jury wanted to wrap things up as early as possible.

Trump on Friday defended Manafort as a "good person," calling the trial "very sad." He declined to answer a question about whether he would offer Manafort a pardon if he is convicted. Summer Meza

2:07 p.m. ET
JACQUES DEMARTHON/AFP/Getty Images

IKEA is setting aside its signature minimalist design style for something a little more ... ostentatious.

The Swedish furniture company is going a little avant-garde with some upcoming "pretty, ugly, lovely objects," Fast Company reported Friday. Instead of clean lines and simple functionality, IKEA is collaborating with decidedly un-IKEA-like artists who are bringing a new sensibility to the store's decor items.

In its latest "maximalist" collection, artist Per B Sundberg is creating a line of "future antiques" that are meant to look one-of-a-kind, quirky, and handmade. Poodle-shaped candle holders will be sold alongside sculptural trinkets that would definitely add some intrigue to any apartment — especially if that apartment was previously furnished with IKEA's comparatively dull Grönlid sofa.

The line is set to launch next month, with items like banana-shaped vases available for less than $30. "Each piece of the Föremål collection is different, representing more than function and going beyond reason," the company said in promotional materials. Indeed, shoppers looking for both reasonable, inexpensive flatware and "beyond reason" skull-shaped planters need look no further. Read more at Fast Company. Summer Meza

12:28 p.m. ET
MANJUNATH KIRAN/AFP/Getty Images

At least 324 people in the southern Indian state of Kerala have died in the past nine days after heavy rain caused severe flooding, officials told The Associated Press on Friday.

Rescuers evacuated thousands of people in Kerala, entering with helicopters and boats Friday to help. Many people were stranded on their rooftops, rescued by one of more than a dozen helicopters. More than 220,000 have evacuated to state-run relief camps, following weeks of rain that has caused landslides and destroyed homes and bridges all over the region.

While monsoon season is deadly every year in India, officials said this season was unprecedented in its severity. Kerala's hospitals are reporting shortages of oxygen, gas stations are running out of fuel, and a major airport in the state suspended all flights, citing a flooded runway.

Across seven Indian states, more than 1,000 people have died since monsoon season began in June, with Kerala being hit hardest. Read more at The Associated Press. Summer Meza

10:52 a.m. ET
Drew Angerer/Getty Images

The income gap keeps growing. Chief executives at 350 of the largest companies in the U.S. now make 312 times more than their average employee, research from the Economic Policy Institute found.

Compensation for CEOs keeps growing, The Hill reported Friday, while employee compensation stagnates. In 2017, CEOs made an average of $18.9 million, a 17.6 percent increase from the year before. Meanwhile, the wages of average workers increased just 0.3 percent.

The think tank said that pay for CEOs has grown at a much faster rate than stock prices or corporate profits at these major companies. Executive compensation has risen nearly 1,000 percent since 1978, which continues to push the CEO-to-worker pay ratio wider. In 2016, the ratio was 270-to-1, while in 1995 it was 112-to-1. Back in 1965, the ratio was just 20-to-1.

"CEO pay continues to be very, very high and has grown far faster in recent decades than typical worker pay," the institute report said. "Higher CEO pay does not reflect correspondingly higher output or better firm performance. Exorbitant CEO pay therefore means that the fruits of economic growth are not going to ordinary workers." See more results at the Economic Policy Institute. Summer Meza

10:30 a.m. ET
Chip Somodevilla/Getty Images

The federal prosecutors handling the fraud case against Paul Manafort spent two weeks laying out their case before the jury. But when it comes to their lunch orders, they remain decidedly mum.

Manafort, President Trump's former campaign chairman, is facing 18 charges of financial crimes after being indicted by Special Counsel Robert Mueller earlier this year. The jury has been deliberating since Thursday morning — and while reporters await any word from the jury room, they're scrambling for any news at all about the high-profile case.

But Mueller's team has proven to be quite taciturn, The New York Times reports, going so far as to withhold comment about their lunch orders. The Times explains that because the federal lawyers, reporters, and Manafort's defense team are all housed within close quarters in Alexandria, Virginia, where the trial is being held, reporters often encounter the prosecutors on the street or in the hotel lobby. Lead prosecutor Greg Andres was spotted awaiting a delivery from Shake Shack in the entrance area of the local Westin hotel — but when reporters asked Andres later whether he had actually received an order from the burger chain, "he laughed, then paused," the Times says. Finally, his answer: "I can't say."

Another day, Mueller lawyer Uzo Asonye entered an elevator with a colleague — only to abruptly cut her off, as there was a reporter already inside. Asonye "turned to the reporter with a smile," the Times reports, and said, "Sorry, I can't talk to you."

Reporters have caught glimpses of the Mueller team's snack table, noting the presence of "Life Savers and orange-colored Starbust candy," so perhaps the lawyers' reticence is due to the fact that they have bad taste in sweets. Read more at The New York Times. Kimberly Alters

9:50 a.m. ET

White House counselor Kellyanne Conway reported to her job at the White House on Friday morning, donning a bright pink blouse and a glowing smile. But, in a development most Americans can understand, her cheery demeanor faltered when she actually had to start working.

As she walked down the White House driveway, Conway was met by a group of reporters asking questions about President Trump's military parade, which CNBC reported Thursday was estimated to cost $92 million. The commander in chief canceled the affair in a fit of Twitter rage early Friday anyway, but one reporter mentioned that the American Legion, a veterans' organization, said the money should go toward the Veterans Affairs Department instead. "Well, that's your perspective," Conway replied. Veterans are "happy [at the VA], mostly," she added, outlining the president's desire to give veterans options for health care aside from the VA.

When a reporter pressed Conway on her claims, noting that veterans say there is still work to be done when it comes to their health care, the former pollster replied, "That's their opinion, and it sounds like you share it, since you're in the business of opinion, not news, most days." She then slammed Americans for not demonstrating proper respect for the military and defense officials, prompting the inevitable questions about her boss' decision to revoke the security clearance of a former CIA director.

Apparently fed up, Conway responded, "Why is everybody so obsessed with the president of the United States?" while standing just feet from the residence and workplace of the president of the United States. "It's kind of weird." Watch Conway's difficult walk to work below. Kimberly Alters

See More Speed Reads