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The home of the Mona Lisa is getting a new boss. Art historian Christophe Leribault, a veteran museum director, is taking over at the Louvre, shouldering the challenge of getting the worlds largest museum out of crisis after the brazen heist in October of the French crown jewels. French government spokeswoman Maud Bregeon announced Wednesday that Leribault is taking over from outgoing Louvre director Laurence des Cars, who resigned Tuesday. The difficulties he inherits are formidable. The daylight robbery among the highest-profile museum thefts in living memory exposed alarming security holes at the Paris landmark. The former royal palace has also suffered a broad array of other problems that have presented a picture of a treasured national institution spiraling out of control. They include a burst pipe near the Mona Lisa,” water leaks that damaged priceless books, aging buildings, staff walkouts over overcrowding, understaffing and ticket price hikes for most non-European visitors. Pressure for new leadership deepened in recent weeks when authorities revealed a suspected decade-long ticket fraud operation linked to the museum that investigators say may have cost the Louvre 10 million euros ($11.8 million). Leribault brings a proven track record. He has been running another world-renowned French landmark and tourist attraction, the Versailles Palace, overseeing an annual budget of about 170 million euros ($200 million). The former palace for French royalty west of Paris was the venue for Olympic equestrian sports when Paris hosted the summer games in 2024. Leribault also is a previous head of Paris Orsay Museum. He will be tasked with leading important projects that are crucial for the institutions future,” Bregeon said as she announced Leribaults appointment at the Louvre. They include security and modernization upgrades and the pursuit of a sweeping overhaul plan, branded Louvre New Renaissance,” that President Emmanuel Macron is championing. Unveiled by Macron in January 2025, the renovation, which could take up to a decade, aims to modernize a museum widely seen as overstretched and physically worn down by mass tourism. The plan includes a new entrance near the Seine River to ease pressure on I.M. Peis pyramid, new underground spaces and a dedicated room for the Mona Lisa with timed access all intended to improve crowd flow and reduce the daily crush of visitors that has become a symbol of the Louvres success and its dysfunction. The project is expected to cost about 1.15 billion euros ($1.35 billion) according to a recent report from France’s court of auditors. It will be partly funded by ticket revenue, state support, donations and income from the Louvre branch in Abu Dhabi. Bregeon described Leribault as very solid, trusted and said he’s expected to provide vision” and “calm to the museum. In a statement, the Culture Ministry highlighted his extensive experience at the helm of major institutions” and said Leribault will prioritize strengthening the security and safety of the Louvre’s buildings, its collections and visitors and staff, and restoring a climate of trust. Sylvie Corbet and John Leicester, Associated Press
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E-Commerce
The crypto market got some good news on Wednesday morning, as Circle reported better-than-expected earnings numbers, sending its stock soaring. Circle, a fintech company that issues and regulates stablecoins, among other things, reported fourth-quarter and full fiscal year 2025 earnings early Wednesday, which showed that total revenue grew 77% to $770 million during the fourth quarter, and net income for the quarter increased by $129 million. Adjusted EBITDA also grew 412% during the quarter. For the full year, total revenue grew 64% to $2.7 billion. In response, Circle shares took off, skyrocketing more than 15% during pre-trading. By midday Wednesday, the stock was up over 25%. Notably, the stock is down roughly 14% over the past month, and down 51% over the past six months. So, the positive earnings news offered investors some relief. The fourth quarter marked another step forward in Circles mission to build the infrastructure for an open, programmable internet financial system, said Jeremy Allaire, Co-Founder, CEO and Chairman at Circle, in a statement included with the earnings release. USDC adoption continued to expand globally as more enterprises, developers, and public institutions integrated digital dollars into real-world payments, treasury, and onchain financial workflows,” Allaire continued. “We saw strong engagement across our platform, meaningful progress toward launching Arc mainnet, continued growth in CPN TPV, and growing momentum for EURC and USYC. With increasing collaboration across traditional finance, fintech, and the public sector, Circle is helping build the infrastructure for a more open and resilient global financial system. The earnings report is also a good signal for the crypto market, which has taken a beating this year. The Nasdaq CME Crypto Index was up nearly 7% midday Wednesday, but remains down almost 30% since the beginning of the year. Another crypto index, the CoinDesk 20, was likewise up over 8%, but down 32% year-to-date. Overall, the crypto market has taken its licks in recent months for several reasons, including de-risking activity by investors, geopolitical concerns, and even changes in the SaaS market, all of which have crypto holders rethinking their positions. However, Circles numbers do indicate that the stablecoin businesswhich differs a bit from other crypto businesses in that stablecoins are backed by fiatcan be profitable.
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E-Commerce
President Donald Trump started in sales mode, using his State of the Union address to deliver an upbeat vision of the U.S. economy. But that portrayal collides with the sentiment of Americans who remain anxious about their finances and feel they haven’t benefited from Trump’s policies. He took the high road to honor the gold medal-winning U.S. mens Olympic hockey team and a war hero before pivoting abruptly to a darker tone as he ridiculed Democrats. Here are takeaways from the speech. Trump’s roaring economy is at odds with sour public sentiment Much of the nation is worried about the direction of the economy, but Trump says the good times are here, insisting repeatedly that rising costs are no longer a problem. The roaring economy is roaring like never before, he said. He cheered the lower cost of gasoline, mortgage rates, prescription drug prices and the rising stock market: Millions and millions of Americans are all gaining. Such optimism, as so many Americans are feeling economic strains, risks painting Trump as out of touch. Just 39% of U.S. adults approved of Trump’s handling of the economy in February, according to AP-NORC polling. Still, the president focused much of the first hour of his speech on the economy, something Republicans had urged him to do as they head into the midterm elections. Trump wraps himself in the flag For a president who always seems to be spoiling for a fight, Trump also tried to summon Americans innate patriotic impulses. In addition to the hockey team, he singled out war heroes and those who had taken brave stands in other countries, using the moment to bestow numerous presidential medals in an effort to give the address a more positive gloss. It underscored the president’s media savvy and understanding that even if a moment isn’t appreciated completely in real time, it can have an afterlife in the days following speech, especially on social media. Yet in one revealing moment, Trump lamented why he couldn’t give a congressional medal to himself. Taking aim at Democrats Tributes to the Olympic hockey team and a World War II veteran didn’t unify the room for long. The Republican president soon took aim at Democrats and blamed them for many of the nations ills. Trump said rising health care premiums are caused by you, suggested Democrats are not protecting Social Security and blamed them for the nations affordability crunch. You caused that problem. You caused that problem, Trump said as he glared at the Democratic side of the room. He seemed to get angrier as the speech progressed. These people are crazy, Im telling you, theyre crazy, he said. Democrats are destroying this country. Trumps MAGA base loves such aggression. Its unclear, however, if the rest of the country feels the same. The Supreme Courts unfortunate decision By Trumps standards, he held his tongue when it came to the Supreme Court. After the court struck down his tariff policy last week, Trump said the justices who voted against one of his signature issues were an embarrassment to their families. By Tuesday, he simply called the ruling unfortunate. Trump sought to treat the ruling with indifference, insisting that tariff revenues were saving the U.S., ignoring the fact that the levies havent made a significant dent in government debt. He said the tariffs were paid by foreign countries even as virtually every study concludes that costs have been paid by U.S. firms and consumers. At one point, he seemed to take the long view that history would ultimately vindicate him even if the Supreme Court would not. As time goes by, I believe the tariffs paid by foreign countries will, like in the past, substantially replace the modern day system of income tax, taking a great burden off the people that I love, he said. That is unlikely. The federal income tax is authorized by the 16th Amendment to the Constitution and the power to collect revenue is ultimately defined by Congress, not the president. Trump vows action on election ‘cheating’ The president also used the speech to reprise his attack on the integrity of U.S. elections. Cheating is rampant in our elections, Trump said. Trump has made such claims for years, focused on his 2020 election loss, claims rejected by dozens of courts and his own attorney general at the time. But the timing of Tuesdays prime-time claims, less than nine months before voters across America are scheduled to decide control of Congress, was noteworthy. So, too, was Trumps suggestion that he would take action to address a problem that doesnt appear to exist. They want to cheat. They have cheated, and their policy is so bad that the only way they can get elected is to cheat, Trump said of Democrats. And were going to stop it. We have to stop it. Trump is calling on Congress to pass a bill requiring voters to show a photo ID before casting ballots. But he also recently vowed to enact an executive order to address the issue, although the White House has not clarified what it might entail. No mention of Minneapolis Sometimes whats not said is as notable as what is. Trump has highlighted immigration since the very first speech in which he announced his 2016 presidential campaign. And on Tuesday night, he revived much of the same language hes used throughout the past decade, blasting criminal aliens and warning of drug lords, murderers all over our country. What he didnt mention: the most aggressive immigration enforcement tactics that threatened to bring the U.S. to the brink earlier this year. He didnt mention the deaths of two U.S. citizens in Minneapolis last month at the hands of federal agents. Indeed, it was Rep. Rashida Tlaib, D-Mich., who shouted that Alex wasnt a criminal, referring to Alex Pretti, one of the U.S. citizens killed in Minneapolis. During her Democratic rebuttal, Virginia Gov. Abigail Spanberger said law enforcement must work to build trust in communities and said Trump every minute spent sowing fear is a minute not investigating murders. Trump said nothing of his administrations shift in tactics, including a drawdown of agents in the Twin Cities. And he made no acknowledgment of the broad concerns in the U.S. about Trumps approach on immigration, as demonstrated by the 60% of U.S. adults who disapproved of his handling of the issue in February, according to AP-NORC polling. Drumbeat for war gets louder Trump has already built up the largest U.S. military presence in the Middle East in decades. And in his speech, he outlined a rationale for using those forces to launch a major military strike against Iran. The president said that Iran and its proxies have spread nothing but terrorism, death andhate, adding that its leaders killed at least 32,000 protesters in recent weeks, which is at the further end of estimates over the death toll. The U.S.-based Human Rights Activist News Agency has so far counted more than 7,000 dead and believes the death toll is far higher. Irans government offered its only death toll on Jan. 21, saying 3,117 people were killed. Trump also warned that the nation has developed missiles that can threaten Europe and is working on missiles that will soon reach the U.S. My preference is to solve this problem through diplomacy. But one thing is certain, I will never allow the worlds number one sponsor of terror, which they are, by far to have a nuclear weapon. Cant let that happen. On brand, the speech was the longest SOTU ever The president, ever mindful of records that allow him to say he was the first, the best or had done the most, succeeded clearly on one thing: he beat his own record for the longest, clocking in at just under 1 hour, 48 minutes. By STEVEN SLOAN and STEVE PEOPLES Associated Press
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