NKorea Cuts Ties with Malaysia over US Extradition

North Korean leader Kim Jong-un. AFP file photo
North Korean leader Kim Jong-un. AFP file photo
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NKorea Cuts Ties with Malaysia over US Extradition

North Korean leader Kim Jong-un. AFP file photo
North Korean leader Kim Jong-un. AFP file photo

North Korea severed diplomatic ties with Malaysia on Friday, abruptly shutting down a once-close relationship that took a major downturn following the shock assassination of Kim Jong Un's estranged half-brother in Kuala Lumpur airport four years ago.

Pyongyang's foreign ministry said it was responding to Malaysia's extradition of a North Korean citizen to the United States earlier this month -- a move it labelled an "unpardonable crime" carried out under "blind obedience" to US pressure.

Malaysia had been one of the nuclear-armed country's few allies until the North Korean leader's relative, Kim Jong Nam, was murdered with a banned nerve agent as he waited to catch a flight from Kuala Lumpur.

Ties plunged after the Cold War-style hit but had started to get back on track with Malaysia announcing the re-opening of its Pyongyang embassy -- but Friday's surprise move put a swift end to that, AFP reported.

North Korea's foreign ministry announced the "total severance of the diplomatic relations with Malaysia", according to state news agency KCNA, saying the citizen being extradited had been involved in "legitimate" trading activities in Singapore.

The move came after a visit by US Secretary of State Antony Blinken and Pentagon chief Lloyd Austin to South Korea, the second leg of an Asian tour to bolster a united front against the nuclear-armed North and an increasingly assertive China.

On Thursday, the North accused the new US administration of adopting "lunatic theory", ruling out any engagement with Washington unless it changed course.

On March 9 a North Korean man named Mun Chol Myong lost his final appeal in Malaysia's top court against extradition to the US to face money laundering charges.

He had denied claims of leading a criminal group that violated sanctions by supplying prohibited items to the North and laundered funds through front companies, according to his lawyers.

Mun, in his 50s, faces four charges of money laundering and two of conspiracy to launder money. The allegations relate mainly to his work in Singapore.

There have been cases of businesses in Singapore sending luxury items, such as liquor and watches, to North Korea, which is banned under sanctions imposed on Pyongyang over its weapons programs.

Before the assassination of Kim Jong Nam, Malaysia and the North enjoyed particularly warm relations.

But afterwards, a reciprocal visa-free travel arrangement for visitors was axed while North Koreans who had been working in coal mines in Sarawak state on Borneo island were sent home.

Two young women, from Indonesia and Vietnam, who had smeared the nerve agent VX on Kim's face were arrested and put on trial but murder charges against them were dropped in 2019.

Their lawyers argued the real assassins were a group of North Koreans who had recruited and trained them but fled Malaysia soon after the murder.

North Korea operated embassies in about 25 countries as of December last year, including Cuba, Iran, Germany, and its key ally China, according to Seoul.

Illicit activities are known to be rampant in North Korea's foreign missions, and Pyongyang has long been accused of using them for intelligence gathering, sanctions-busting and money laundering.



Trump Reports More Than $600 Million in Income from Crypto, Golf, Licensing Fees

A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
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Trump Reports More Than $600 Million in Income from Crypto, Golf, Licensing Fees

A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard

Donald Trump reported more than $600 million in income from crypto, golf clubs, licensing and other ventures in a public financial disclosure report released on Friday that provided a glimpse of the vast business holdings of America’s billionaire president.

The annual financial disclosure form, which appeared to cover the 2024 calendar year, shows the president's push into crypto added substantially to his wealth but he also reported large fees from developments and revenues from his other businesses. Overall, the president reported assets worth at least $1.6 billion, a Reuters calculation shows.

While Trump has said he has put his businesses into a trust managed by his children, the disclosures show how income from those sources still ultimately accrue to the president - something that has opened him to accusations of conflicts of interest.

Some of his businesses in areas such as crypto, for example, benefit from US policy shifts under him and have become a source of criticism.

“President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," White House press secretary Karoline Leavitt said in an emailed statement to Reuters.

"The Trump Administration is committed to transparency and accessibility for the American people."

The financial disclosure was signed on June 13 and did not state the time period it covered. The details of the cryptocurrency listings, as well as other information in the disclosure, suggest it was through the end of December 2024, which would exclude most of the money raised by the family's cryptocurrency ventures.

Given the speed at which the Trump family has made deals during his ascent to the presidency, the filing is already a time capsule of sorts, capturing a period when the family was just starting to get into crypto but was largely still in the world of real estate deals and golf clubs. A meme coin released earlier this year by the president - $TRUMP - alone has earned an estimated $320 million in fees, although it’s not publicly known how that amount has been divided between a Trump-controlled entity and its partners. In addition to the meme coin fees, the Trump family has raked in more than $400 million from World Liberty Financial, a decentralized finance company. The Trump family is involved, also, with a bitcoin mining operation and digital asset exchange-traded funds.

In the disclosures, Trump reported $57.35 million from token sales at World Liberty. He also reported holding 15.75 billion governance tokens in the venture.

TRUMP MEDIA

The wealth of the Republican businessman-turned-politician ranges from crypto to real estate, and a large part on paper is tied up in his stake in Trump Media & Technology Group, owner of social media platform Truth Social.

Besides assets and revenues from his business ventures, the president reported at least $12 million in income, including through interest and dividends, from passive investments totaling at least $211 million, a Reuters calculation shows.

His biggest investments were in alternative fund manager Blue Owl Capital Corp and in government bond funds managed by Charles Schwab and Invesco.
The disclosure often only gave ranges for the value of his assets and income; Reuters used the lower amount listed, meaning the total value of his assets and income was almost certainly higher.

The disclosure showed income from various assets including Trump's properties in Florida. Trump's three golf-focused resorts in the state - Jupiter, Doral and West Palm Beach - plus his nearby private members' club at Mar-a-Lago generated at least $217.7 million in income, according to the filing. Trump National Doral, the expansive Miami-area golf hub known for its Blue Monster course, was the family's single largest income source at $110.4 million. The income figures provided are essentially revenues, not net profits after subtracting costs.

The disclosure underlined the global nature of the Trump family business, listing income of $5 million in license fees from a development in Vietnam, $10 million in development fees from a project in India and almost $16 million in licensing fees for a Dubai project.

Trump collected royalty money, also, from a variety of deals - $1.3 million from the Greenwood Bible (its website describes it as "the only Bible officially endorsed by Lee Greenwood and President Trump"); $2.8 million from Trump Watches, and $2.5 million from Trump Sneakers and Fragrances.

Trump listed $1.16 million in income from his NFTs - digital trading cards in his likeness - while First Lady Melania Trump earned around $216,700 from license fees on her own NFT collection.