The US Centers for Disease Control and Prevention issued a health alert to clinicians Tuesday, warning that the savage, flesh-eating parasitic fly—the New World Screwworm—is not only approaching the Texas border, but also felling an increasing number of animals in the bordering Mexican state of Tamaulipas.
The advisory, released through the agency's Health Alert Network, directs doctors, veterinarians, and other health workers to be on the lookout for patients with wounds teeming with ferocious maggots burrowing into their living flesh. The alert also provides guidance on what to do if any such festering wounds are encountered—namely, remove each and every maggot to prevent the patient from dying, and, under no circumstance allow any of the parasites to survive and escape.
The New World Screwworm (NWS) is a fly that lays its eggs—up to 400 at a time—in the wounds, orifices, and mucus membranes of any warm-blooded animal. The eggs hatch into flesh-eating maggots, which look and act much like screws, twisting and boring into their victims while eating them alive.
The CEO of Bank of America has warned that trillions of dollars could flee from bank deposits to the stablecoin sector if the upcoming crypto market structure bill allows interest payments on the tokens.
Banking System Could Face $6 Trillion Problem
On Wednesday, Bank of America CEO Brian Moynihan told investors that the banking industry could face significant challenges if the US Congress does not prohibit interest-bearing stablecoins.
During its Q4 earnings call, the executive affirmed that up to $6 trillion in deposits, around 30% to 35% of all US commercial bank deposits, could flow out of the banking system and into the stablecoin sector, citing Treasury Department studies.
The banking sector has heavily criticized the US’s landmark stablecoin legislation, the GENIUS Act, for months, claiming that it has loopholes that could pose risks to the financial system. Notably, the crypto framework prohibits interest payments on the holding or use of payment-purpose stablecoins but only addresses issuers.
Multiple banking associations across the US sent a joint letter to the Senate Banking Committee urging Congress to amend the law to include digital asset exchanges, brokers, dealers, and related entities.
According to the call’s transcript, Moynihan compared the digital assets to money market mutual funds, which require reserves to be held in short-term instruments, such as US Treasuries, thereby reducing lending capacity in the system.
That is the bigger concern that we’ve all expressed to Congress as they think about this, if you move it outside the system, you’ll reduce the lending capacity of banks. (…) And if you take out deposits, (…) they’re either not going to be able to loan or they’re going to have to get wholesale funding and that wholesale funding will come at a cost that will increase the cost of borrowing.
The CEO asserted that Bank of America would not be affected by this issue, as the institution would be able to “meet customer demand, whatever may surface.” However, he noted that it would particularly hurt small- and medium-sized businesses, as they’re “largely lent to end consumers by the banking industry.”
Stablecoin Rewards Debate Intensifies
Moynihan’s remarks come amid the Senate’s struggles with the long-awaited market structure bill. The recently shared draft, which was scheduled for a markup today, has raised concerns among crypto industry leaders, who have outlined multiple problems with the bill.
Coinbase’s CEO, Brian Armstrong, took to X to share his disappointment with the legislation, affirming that “this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill.”
He affirmed that, after reviewing the bill’s draft, Coinbase could not support it in its current state, arguing that there were “too many issues.” Among the problems, he noted the de facto ban on tokenized equities, crucial DeFi prohibitions, the “erosion” of the Commodity Futures Trading Commission (CFTC)’s authority, and the policies regarding the payment of interests on stablecoins.
As reported by Bitcoinist, this version of the market structure bill introduced key restrictions for stablecoin issuers. Under the proposed changes, issuers would be able to offer rewards for specific actions, such as account openings and cashback.
However, they are prohibited from offering interest payments to passive token holders. To Armstrong, this “would kill rewards on stablecoins,” and allow banks to “ban their competition.”
Amid the intensified backlash, Senate Banking Committee Chairman Tim Scott announced on Wednesday that the bill’s markup had been postponed to “deliver clear rules of the road that protect consumers, strengthen our national security, and ensure the future of finance is built in the United States.”
Bipartisan lawmakers are seeking to secure a 35% federal pay raise for correctional officers at the Bureau of Prisons, in an effort to address longstanding staffing shortages across the agency.
The Federal Correctional Officer Paycheck Protection Act, which both House and Senate lawmakers introduced this week, would implement a 35% increase to the base pay rates for BOP correctional officers in the 0007 job series, as well as certain correctional officers on various other government pay scales.
“Persistent and often dangerous staffing shortages at federal prisons nationwide cause safety concerns for BOP personnel and incarcerated individuals alike,” Sen. Jeanne Shaheen (D-N.H.), one of the bill’s original cosponsors, said in a statement. “Our bill will help to ensure that staff within our federal prisons are paid adequately for the critical work they do across this country.”
A bipartisan companion bill in the House comes from Reps. Rob Bresnahan (R-Pa.) and Dan Goldman (D-N.Y.), who said that pay rates for correctional officers fall short of other similar federal law enforcement personnel. In turn, that leads to low staffing levels, coupled with excessive use of overtime to try to compensate for the vacancies.
“This strains workforce morale, disrupts inmate programming and creates unsafe conditions inside Bureau of Prisons facilities,” Bresnahan said in a statement.
The new bill comes shortly after BOP correctional officers received a 3.8% federal pay raise, as part of President Donald Trump’s orders for a larger 2026 pay increase for certain law enforcement personnel.
The American Federation of Government Employees said it “appreciates” the 3.8% raise for law enforcement, including BOP correctional officers. But AFGE added that for the BOP, “the one-time pay bump simply isn’t enough to make up for decades of pay disparity.”
Brandy Moore White, national president of the AFGE Council of Prison Locals, expressed support for the new legislation.
“This reform is critical. It will align BOP compensation with federal law enforcement standards, stem the loss of experienced officers and attract qualified applicants in an increasingly competitive hiring market,” Moore White said in a statement. “Most importantly, it will help restore safe staffing levels across federal institutions, reduce violence, protect staff and ensure mission readiness.”
The introduction of the bill also comes shortly after BOP Director William K. Marshall III announced upcoming retention-based pay incentives for certain correctional officers and other BOP positions seeing consistent staffing shortages. The new pay incentives, which are expected to take effect in February, will give some agency employees a temporary pay boost between 5% and 25%, depending on their job position and geographic location.
For years, BOP has attempted to stave off poor recruitment and retention levels by using pay-based recruitment and retention incentives as a way to try to keep federal correctional officers in their jobs. But because the pay incentives are a temporary fix, many have advocated for a larger and permanent federal pay raise for the BOP workforce.
A Justice Department Office of Inspector General report from February 2024 said the BOP workforce uses excessive overtime hours and staff “augmentation” to try to compensate for persistent understaffing. But the OIG wrote that those factors “overburdened existing staff and potentially contributed to staff fatigue, sleep deprivation, decreased vigilance and inattentiveness to duty.”
Recent federal workforce data also shows that BOP correctional officers’ attrition levels over the last year have resulted in 1,700 officers leaving their jobs, including more than 1,100 correctional officers who have either quit or retired since January 2025. Over the same time period, the agency had about 1,200 new officers join the ranks, resulting in a net loss of nearly 500 correctional officers over the last year.
Under the new legislation, the 35% pay increase would initially last for five years. Within the last six months of that timeframe, the bill would require the Justice Department OIG to assess the progress BOP has made toward improving recruitment and retention levels, as well as reducing overtime hours and staff augmentation. If that OIG assessment shows BOP has made progress as a result of the federal pay raise, the 35% salary boost would remain in place.
Heather Morgan, known by her rap persona “Razzlekhan,” could land an 18-month prison sentence after pleading guilty to laundering cryptocurrency linked to the 2016 Bitfinex hack. Prosecutors described her role as pivotal in obscuring stolen bitcoin through complex schemes, despite not being part of the original theft. Her cooperation, and the influence of her husband, […]
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