What we're covering
• Trump Iran threat: President Donald Trump warned an “armada” is heading toward Iran and threatened possible military action against the regime. It comes as US forces will conduct a multi-day air exercise in the Middle East. Iran says mediation efforts between Tehran and the US are ongoing, according to state-affiliated news agency Tasnim.
• Rubio testifies: Secretary of State Marco Rubio is defending the US military operation that ousted Venezuelan leader Nicolás Maduro in his first public hearing in Congress since the strikes. Rubio said the US will “very quickly” establish a diplomatic presence in the South American country and has a “short-term mechanism” to help fund Venezuelan government services.
• Trump speech: The president touted his “Trump Accounts” initiative in a speech in Washington, DC, as he tries to combat voters’ broader affordability concerns.
Rubio confirmed that the US is holding Venezuelan oil money in Qatar. Here’s what we know about it
US Secretary of State Marco Rubio confirmed to senators today that the US has placed proceeds from a sale of Venezuelan oil into a bank account in Qatar.
The extensive sanctions on Venezuela have excluded its government from the global banking system for years. Experts have told CNN that keeping any oil revenue from new sales in Qatar is one way to allow the US to disperse the funds without interference from the many Western creditors who claim they’re owed money from Venezuela.
US President Donald Trump also issued an executive order blocking liens, garnishments or other legal judgments claiming those funds.
“It’s a real big problem. Venezuela owes money to everyone,” said one expert on foreign relations and Venezuela who spoke to CNN earlier this month, on the condition of anonymity to speak freely.
The Qatari banks holding the funds are auctioning the money to Venezuelan banks, according to Alejandro Grisanti, founding director of Ecoanalitica, a South American consultancy that operates in Venezuela. Priority is given to food, medicine and small businesses, and the funds are being allocated by the Venezuelan central bank according to regulations set by Washington. Yet the fund’s location in Qatar, rather than the US, has raised some transparency concerns.
On Tuesday, Rubio said that the funds will ultimately be subject to an audit, paid for by Venezuela.
Read more about the Qatari bank here.
Trump again targets Jamie Dimon, despite JPMorgan's backing of "Trump accounts"
President Donald Trump today added JPMorganChase to the list of corporations helping to fund his new “Trump accounts” initiative but that didn’t stop him from taking yet another shot at the company’s CEO.
“I don’t think Jamie likes me too much now,” Trump said of JPMorgan CEO Jamie Dimon during a speech touting the new investment vehicle. “But that’s okay.”
The president’s remarks came just days after he escalated a feud with Dimon by suing him and JPMorgan over allegations that the bank improperly “debanked” him after the January 6, 2021, attack on the US Capitol.
The suit marked the low point for a once civil relationship between Trump and Dimon that has soured significantly. In Davos, Switzerland, last week, Dimon criticized Trump’s proposal to cap credit card interest rates as “an economic disaster.”
Still, JPMorgan on Wednesday became one of several companies to pledge funding for the Trump accounts, which aim to seed investment accounts for every American child from birth.
“JPMorganChase today announced it will match the U.S. government’s one-time $1,000 contribution to children of eligible U.S. employees, providing an additional $1,000 per eligible child,” the company said in a statement to CNN.
Bank of America and Broadcom were among the companies that also pledged to provide matching funds for employees’ Trump accounts.
Rapper Nicki Minaj, who attended Wednesday’s event and described herself as Trump’s “number one fan,” is expected to pledge a contribution of her own to the Trump accounts initiative.
Rubio says “no one knows” who would take over if Iran's supreme leader is removed
“No one knows” who would take over if Iranian Supreme Leader Ayatollah Ali Khamenei is removed from power, US Secretary of State Marco Rubio said Wednesday as he raised the specter of military action against Iran.
The top US diplomat acknowledged that it would be “far more complex” than the situation in Venezuela and would “require a lot of careful thinking.” He also suggested the US could preemptively attack Iran to protect US forces in the region.
He said he hoped “it wouldn’t come to that,” but argued that Iran had amassed the capability to carry out such an attack.
On what happens if the supreme leader is removed, Rubio said, “that’s an open question.”
“No one knows what would take over,” he said, noting that the system in Iran “is divided between the supreme leader and the IRGC that responds regularly to him” and “quasi-elected individuals” who “ultimately have to run everything they do by the supreme leader.”
“I think anyone can give you a simple answer to what happens next in Iran if the supreme leader and the regime were to fall, other than the hope that there would be some ability to have somebody within their systems that you could work towards a similar transition,” he said.
“I would imagine it would be even far more complex than the one we’re describing now because you’re talking about a regime that’s in place for a very long time,” he said, “so that’s going to require a lot careful thinking if that eventuality ever presents itself.”
As Trump warns of retaliation on Iran, here's the latest death toll from the protests
The death toll from anti-government protests in Iran has risen amid warnings from US President Donald Trump of retaliation against the government in Tehran for the killing of demonstrators.
At least 5,858 protesters have been killed in Iran since anti-government demonstrations erupted in late December, according to updated figures released Tuesday by the US-based Human Rights Activists News Agency (HRANA).
The group said the toll includes 100 minors under the age of 18. HRANA also reported that 11,017 people severely injured and said 42,324 have been arrested since the start of the unrest.
The figures are based on cases it has identified and verified, according to HRANA.
The Iranian government, however, has offered much lower official death tolls, and internet blackouts continue to limit outside verification.
Earlier this week, Iran’s Foreign Ministry said at least 3,117 people have been killed during the protests, including 2,427 “civilians” and security personnel, as well as 690 individuals labeled as “terrorists.” It also listed widespread destruction across civilian and government infrastructure.
CNN cannot independently verify the figures from HRANA and the Iranian government.
Trump took to social media to threaten Iran again Wednesday morning, urging the country to negotiate an “equitable” nuclear deal or face another potential US military strike.
Trump’s latest warning represents a continuation of US pressure on Tehran over both its domestic crackdown and its nuclear ambitions.
The protests in Iran, sparked by economic grievances and inflation, have evolved into the most significant threat to the Islamic Republic’s survival since its 1979 inception.
Correction: HRANA’s updated death toll was released on Tuesday, not Monday as previously reported.
White House hangs photos of Trump with Putin and Xi in newly remodeled Palm Room
The newly remodeled Palm Room at the White House now has photos of President Donald Trump with world leaders including Russian President Vladimir Putin.
The photo drew some attention after reporters took new images of the Palm Room on Tuesday. It’s among several photographs in the room of the president alongside international leaders, including Chinese President Xi Jinping, Israeli Prime Minister Benjamin Netanyahu and Britain’s King Charles.
It’s unclear when the photographs were added to the room.
The gold-framed photograph of Trump and Putin was placed above another photograph of Trump holding his granddaughter’s hand. The photo of Trump with the Russian leader was taken on the tarmac during their August 2025 Alaska summit. It was Putin’s first time on US soil in 10 years as well as his first time since invading Ukraine. The meeting didn’t result in a ceasefire or a peace deal.
In August, Trump had boasted about a photo that Putin sent to him on the heels of the Alaska summit: “I’m going to sign this for him,” Trump said. “I was sent one, and I thought you all would like to see it.”
The same picture now hangs in the Palm Room but it’s a larger version of it.
Throughout his second term, Trump has put his own flair on decorating the White House. Other photographs in the room feature Trump sitting alone inside the Oval Office, Trump pumping his fist as he boards Air Force One and Trump hosting soccer superstar Cristiano Ronaldo.
On Tuesday, the press corps got a first glimpse of the room since it was remodeled after they were brought through the Palm Room doors for Trump’s arrival and departure from Iowa due to snow conditions.
Nicki Minaj praises president during event promoting "Trump accounts"
Rapper Nicki Minaj praised President Donald Trump after he invited her on stage during an event promoting his “Trump Accounts.”
Introducing Minaj, who was wearing a large white fur coat, Trump said, “I’m gonna let my nails grow, because I love those nails” and commented on how he performed well with “her community” in the 2024 election, referring to black voters.
“Well, I don’t know what to say, but I will say that I am probably the president’s number one fan, and that’s not going to change,” Minaj said. “The hate or what people have to say, it does not affect me at all. It actually motivates me to support him more.”
Trump also invited Shark Tank’s Kevin O’Leary, or “Mr. Wonderful” – who recently starred in the Oscar-nominated film “Marty Supreme” – up on the stage to speak.
“We love policy, pro-business policy,” O’Leary said. “And these accounts are fantastic for independence and support. I thank you very much. It’s all about the entrepreneur, and I think you know that, sir.”
“A little interlude,” Trump said. “That’s better than getting Scott Bessent up.”
Rubio says Iranian regime "is probably weaker than it has ever been"
US Secretary of State Marco Rubio said Wednesday that the Iranian regime “is probably weaker than it has ever been.”
Rubio’s comments to the Senate Foreign Relations Committee come shortly after President Donald Trump again raised the specter of military action if Tehran does not negotiate on a nuclear deal.
The top US diplomat said that “a core problem” faced by the Iranian regime, “unlike the protests you saw in the past on some other topics, is that they don’t have a way to address the core complaints of the protesters, which is that their economy is in collapse.”
He argued the economy was “in collapse” due to sanctions and because Iran spends “all their money and all their resources building weapons and sponsoring terrorist groups around the world.”
The top US diplomat said he estimated the death toll from the recent protests is “in the thousands.”
“I think regimes, including that one in Iran, have learned that when you start shooting people in the head with snipers, it’s effective. I mean, it works, and they’ve done it. It’s horrifying, and that’s what we’ve seen,” Rubio said.
Trump touts "Trump accounts" initiative as centerpiece of his affordability agenda
President Donald Trump on Wednesday touted the planned launch of a “Trump accounts” initiative meant to seed investment accounts for American children starting at birth, as he tries to combat voters’ broader affordability concerns.
During an event promoting the accounts, Trump boasted that the idea would be “remembered as one of the most transformative policy innovations” of his presidency.
“The size and scale of this wealth will dwarf all government programs that were created to benefit America’s youth,” he said. “Even people that truly hate me are making this investment.”
Here’s how the Trump Accounts will work in brief: The federal government will put a pilot contribution of $1,000 into individual investment accounts for babies born between January 1, 2025, and December 31, 2028. The accounts, however, will be available for any eligible child under 18. Parents, employers and others can contribute up to $5,000 a year combined on behalf of the child.
Money will grow tax deferred and may not be withdrawn before the child turns 18.
To be eligible, babies and children must be US-born citizens, and both the parents and the child must have Social Security numbers.
Parents who want to set up an account for their eligible children can do so by filing Form 4547 with their 2025 federal income tax return.
Several companies and philanthropists have pledged additional funding for the accounts, including a $6.25 billion donation from billionaire Michael Dell and his wife, Susan.
As Rubio testifies, here’s the latest from Venezuela
Secretary of State Marco Rubio is testifying on US policy in Venezuela before the Senate this morning. Here’s the latest news from the country:
- Assets “unblocked”: Acting President Delcy Rodríguez said Tuesday that Venezuelan assets in the US are being “unblocked” after talks with President Donald Trump. Rodríguez added that Venezuela would use the newly-freed assets “invest significant resources in equipment for hospitals— equipment that we are acquiring in the United States and in other countries.”
- Students confront Rodríguez: College students in Venezuela confronted Rodríguez yesterday to demand that her government release professors and students imprisoned for political reasons. The students told the president to “put her hand on her heart” and pledge to free more detainees. “We are working to achieve democratic coexistence,” Rodríguez responded.
- More prisoners released: Activist group Foro Penal said Sunday that at least 80 political prisoners were released from detention. It marks one of the highest daily numbers of political prisoners released since the head of Venezuela’s National Assembly, Jorge Rodríguez, announced earlier this month that the government would release “a significant number” of detainees. Interior Minister Diosdado Cabello said Monday that since December, 808 releases have taken place, but families of detainees and human rights NGOs say the number is much lower and that the process is moving slowly.
Rubio: "We're in a good place" on Greenland, further discussions begin "today"
“We’re in a good place right now” on Greenland, US Secretary of State Marco Rubio said Wednesday, noting that further discussions begin “today.”
“I think we have in place a process that’s going to bring us to a good outcome for everybody,” he told lawmakers on the Senate Foreign Relations Committee.
“Even as I speak to you now, there will be some technical-level meetings between us and our partners in Greenland and Denmark on this issue,” he noted.
“I think we’re going to get something positive done. We’re going to begin that process in a very professional, straightforward way. It begins today, and it will be a regular process,” he said without offering details.
“We’re going to try to do it in a way that isn’t like a media circus every time these conversations happen, because we think that creates more flexibility on both sides to arrive at a positive outcome,” the top US diplomat noted.
“I think we’re going to get there,” Rubio said as he reiterated President Donald Trump’s pledge that the US would not use force.
“We’ve got a little bit of work to do, but I think we’re going to wind up in a good place, and I think you’ll hear the same from our colleagues in Europe very shortly,” Rubio said.
Rubio says US will establish a diplomatic presence in Venezuela “very quickly”
US Secretary of State Marco Rubio said Wednesday that the US will establish a diplomatic presence in Venezuela “very quickly.”
“I’ve alerted some of you that we have Laura Dogu, who was our Ambassador to Nicaragua in the past, and to Honduras, will be taking over the [Venezuela] Affairs Unit, first in Bogota, [Colombia], but ultimately in Caracas,” Rubio explained during a Senate hearing on the US operation that led to the capture of the country’s then President Nicolas Maduro.
Dogu, a career diplomat, is the current Chargé D’Affairs at the Venezuela Affairs Unit, which had been in operation from Colombia since the suspension of US-Venezuela diplomatic relations in 2019.
“We already had 70 locally employed that sort of maintain that facility, but we have a team on the ground there assessing it, and we think very quickly we’ll be able to open a US diplomatic presence on the ground, which will allow us to have real-time information and interact, by the way, not just with officials in the regime, with the interim authorities, but also interact with members of civil society, the Opposition,” Rubio continued, further characterizing the interim Venezuelan government as “cooperative” on while acknowledging some “hard asks” on the US end.
President Donald Trump had claimed on multiple occasions that the US currently “running” the country, a claim Rubio seemed to downplay in comparison.
CNN reported Tuesday that the CIA is quietly working to establish a permanent US presence on the ground in Venezuela.
Rubio says US has "short-term mechanism" to help fund Venezuelan government services
US Secretary of State Marco Rubio said Wednesday the Trump administration has created a “short-term mechanism” to help fund key Venezuelan government services like policing and sanitation and the interim government had pledged to buy medicine and equipment “directly from the United States.”
Rubio indicated the money would come from the sanctioned Venezuelan oil that is being sold at market rates. He also later noted that “part of the proceeds will go to fund an audit process to make sure that that’s how the money is being spent.”
“This is a short-term mechanism in which the needs of the Venezuelan people can be met through a process that we’ve created where they will submit every month a budget of, this is what we need funded,” he explained in his opening remarks.
“We will provide for them at the front end what that money cannot be used for. And they’ve been very cooperative in this regard,” he noted.
The top US diplomat strayed entirely from his prepared opening remarks for the hearing, including the threat of force to ensure the cooperation of the interim government.
Rubio noted there hadn’t been mass migration from Venezuela or a civil war in the country in part because of “the ability to establish direct, honest, respectful – but very direct and honest conversations with the people who today control the elements of that nation, meaning the law enforcement, the government apparatus, etc.”
Meanwhile, Gov. Shapiro says Trump admin is "whitewashing" history after Philadelphia slavery exhibit was removed
Pennsylvania Gov. Josh Shapiro filed in court yesterday in support of Philadelphia’s lawsuit against the Trump administration over the removal of a slavery exhibit, saying the White House is “whitewashing” history.
Earlier this month, the National Park Service removed a long-standing exhibit on slavery in Philadelphia’s Independence National Historical Park. The exhibit, located at the President’s House Site where Presidents George Washington and John Adams lived, features displays honoring individuals enslaved by Washington and a historical timeline of American slavery.
The city filed a lawsuit against the administration last week.
In Tuesday’s filing, Shapiro went on to say that the removal of the exhibit is also an abuse of power.
White House spokesman David Ingle previously told CNN in a statement, “President Trump is ensuring that we are honoring the fullness of the American story instead of distorting it in the name of left-wing ideology.”
In an executive order signed last March, President Donald Trump accused the Biden administration of advancing “corrosive ideology,” specifically citing Independence Park, and called upon the Interior Secretary Doug Burgum, who oversees the National Park Service, to remove content within the department’s jurisdiction that “inappropriately disparage Americans past or living.”
CNN’s Aleena Fayaz and Rashard Rose contributed to this post.
Here's what is on Trump's schedule today
President Donald Trump is set to speak about his “Trump Accounts” program today, in which he is expected to share more about the investment initiative which could help tens of millions of American families save for their children.
Under the program, the federal government will put $1,000 into individual accounts for children born between January 1, 2025, and December 31, 2028.
He will deliver those remarks at 11 a.m. ET.
Later, at 3 p.m. ET, he will meet with auto workers, then two hours after that, at 5 p.m. ET, he is expected to participate in a policy meeting. Those events are currently closed to press.
We’ll bring you any relevant updates on these as we get them.
Rubio scheduled to meet with Venezuelan opposition leader today
US Secretary of State Marco Rubio is slated to meet with Venezuelan opposition leader Maria Corina Machado on Wednesday afternoon, according to his public schedule.
Their meeting at the State Department comes after a larger meeting with President Donald Trump less than two weeks ago and as the US administration continues to work with the Venezuelan interim government that previously served Nicolas Maduro.
Their meeting also comes after Rubio testifies publicly for the first time since the military operation that deposed the Venezuelan leader.
Rubio has known Machado for years and spoken highly of her – he even nominated her for the Nobel Peace Prize while he was a senator. However, the top US diplomat has recently shied away from publicly endorsing her as Venezuela’s future leader
Rubio: US prepared to use force if Venezuelan interim government resists cooperation
US Secretary of State Marco Rubio plans to threaten the use of force “to ensure maximum cooperation” from the Venezuelan interim authorities when he testifies publicly for the first time since the military operation to capture and depose Nicolás Maduro was carried out in early January.
“We will closely monitor the performance of the interim authorities as they cooperate with our stage-based plan to restore stability to Venezuela. Make no mistake, as the President has stated, we are prepared to use force to ensure maximum cooperation if other methods fail,” Rubio will say, according to his prepared remarks for the Senate Foreign Relations Committee on Wednesday.
Rubio’s testimony comes amid continued scrutiny of the military operation and the administration’s broader plans for Venezuela.
“(Delcy) Rodríguez is well aware of the fate of Maduro; it is our belief that her own self-interest aligns with advancing our key objectives,” Rubio intends to say.
He will once again assert in his testimony that the activity was not an act of war, but rather “an operation to aid law enforcement.” The Trump administration has used this argument as part of its justification for why it did not obtain congressional approval before the operation.
“There is no war against Venezuela, and we did not occupy a country. There are no US troops on the ground,” according to Rubio’s prepared remarks.
Not only did the administration not get congressional approval, it also did not give advance notice to key lawmakers about the military action, angering Democrats and some Republicans on Capitol Hill. However, efforts to constrain the president’s power through a war powers resolution narrowly failed in both the Senate and the House.
Trump urges Iran to negotiate nuclear deal, adding "next attack will be far worse"
President Donald Trump took to social media to threaten Iran this morning, urging the country to negotiate an “equitable” nuclear deal or face another potential US military strike.
It comes as US forces are set to conduct a multi-day air exercise in the Middle East and Washington bolsters its military presence in the region amid tensions with Iran. The USS Abraham Lincoln carrier strike group has also moved closer to the region, with the president mentioning that in his post.
“A massive Armada is heading to Iran. It is moving quickly, with great power, enthusiasm, and purpose. It is a larger fleet, headed by the great Aircraft Carrier Abraham Lincoln, than that sent to Venezuela,” Trump posted on Truth Social.
As CNN reported Tuesday, the USS Abraham Lincoln carrier strike group is now in the Indian Ocean. While it’s closer to assist in any potential operation targeting Iran, it’s not necessarily in a final position.
The US president has previously threatened military action against the regime, which has launched a brutal crackdown on against a wave of anti-government protests.
