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Extreme Heat Threatening Millions of Americans Through July 4th; Trump Made More Than $1 Billion from Crypto Businesses in 2025; 15-Term Congresswoman in Colorado Ousted by Democratic Socialist. Aired 7-7:30a ET

Aired July 01, 2026 - 07:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[07:00:00]

SARA SIDNER, CNN ANCHOR: Right now, brutal heat gripping half of America. Triple-digit temperatures mixed with high humidity are creating extremely dangerous and potentially deadly conditions for millions of people, and that extreme heat is unfortunately expected to peak this holiday weekend.

JOHN BERMAN, CNN ANCHOR: Breaking overnight, the left rising. A 30- year Democratic incumbent falls, the third to lose a primary in a week. It's hard to remember when we've seen anything like this before, and we have new reporting on who could be next.

KATE BOLDUAN, CNN ANCHOR: And it's likely the biggest and perhaps worst kept secret in the world right now. Travis Kelce, Taylor Swift, their expected wedding celebration at Madison Square Garden. The hundreds of bold names on the invite list, the extraordinary steps being taken to keep it all under wraps.

I'm Kate Bolduan with John Berman and Sara Sidner. This is CNN News Central.

SIDNER: This morning, the dangerous heat is on. Starting today, a heat wave beginning to grip the eastern half of the United States, and for some it could deliver the hottest July 4th on record. Right now, more than 150 million people are under heat alerts. Cities from the Midwest to the Northeast will see consecutive days in the mid-90s to 100s.

Today, Washington, D.C., forecast to see a high of 99 degrees, then hit more than 100 for three straight days, something that hasn't happened has only happened seven other times on record. And tomorrow, Philadelphia could hit a blistering 104 degrees with a heat index as high as 111, part of a stretch of dangerously hot afternoons that stretch into the July 4th weekend. Friday in New York City, Central Park could hit 100 degrees for the first time since 2012.

CNN Meteorologist Derek Van Dam is here with the very latest. Just give us a sense of, first of all, what people can expect, and then what we should be doing about it.

DEREK VAN DAM, CNN METEOROLOGIST: That is such a good point, Sara. I woke up this morning, I was like, How can we tell this story differently? Now that the heat wave is beginning, it's going to last and peak right into the early parts of Independence Day weekend.

Let's talk about the dangers of heat. This is an extreme heat wave that we all need to take seriously. But you got to recognize the difference in symptoms between heat exhaustion and heatstroke. Remember, heat exhaustion is very serious, but heatstroke is a medical emergency. That's when you need to call 911. That's when you need to seek medical assistance.

Remember, if you've got heat exhaustion, it's symptoms being weakness, being dizzy. But a heatstroke is often confusion, slurring your language, often feeling very hot to the touch. That is when you need to seek medical attention.

So, hopefully, this is some news you can use instead of just regurgitating numbers, because we all know that a heat wave is upon us, and it's going to build. We are talking about roughly 80 million Americans under heat alerts now. But through the Independence Day weekend, that number balloons to 150 million Americans. So, we're talking nearly half of the U.S. population that will be impacted by this extreme heat.

So, it's not just the daytime highs that is so extreme. Nearing 100 degrees just today for the nation's capital, 95 in Chicago. But this is a very important map from NOAA. This shading of blue, that is extreme heat risk. All age groups are vulnerable if you do not have adequate ways to cool your body.

And look how this moves across the Midwest into the Ohio River Valley and settles right into the mid-Atlantic. This is some of our most populated areas, and, of course, it's coinciding right with the 4th of July, when you and I want to be outdoors celebrating our nation's independence.

It is the humidity values that will make the heat index skyrocket, high dew point, high humidity. It's the air you can wear. But when you start talking about temperatures over 110 degrees, it's what it'll feel like on your skin. That means your body needs to work that much harder to cool itself down effectively.

Remember, sweating is its natural process to cool you down. But when there's so much humidity in the air, doesn't have that ability to cool ourselves off. So, it has to work that much harder. So, it's the overnight lows too that are dangerous.

Remember, record minimum temperatures -- or actually maximum low temperatures, I should say, could be set across this area, and that means we don't have the ability to cool ourselves when we expect to overnight, when it gets dark.

[07:05:05]

Sara?

SIDNER: Yes. I felt it this morning. It was already warm out there, and I'm like the sun's not even up. Yes. Derek Van Dam, thank you so much for that.

VAN DAM: Thanks, Sara.

SIDNER: I know you'll be watching it. Kate?

BOLDUAN: President Trump has released his annual financial disclosures, as required by law for a president, and this one is a doozy, showing that he took in billions of dollars in his first year of his second term in office, the money pouring in especially from his family's cryptocurrency ventures. $526 million alone came from sales of crypto tokens tied to World Liberty Financial, a firm partly managed by his sons, Eric and Don Jr.

CNN's Alayna Treene tracking this one from the White House, and there's a lot to look through this massive disclosure report. The White House obviously continues to say there is no conflict of interest here, no issue with it, and are defending the president here. What are you hearing about all this?

ALAYNA TREENE, CNN WHITE HOUSE CORRESPONDENT: Yes. This is a massive disclosure report, as you mentioned, Kate. It is 927 pages, and it does provide the most extensive look so far at the growing fortune that President Donald Trump has amassed during his time here in office, at least looking at the last year, 2025.

I want to get into the numbers, because there's a lot to go through. This disclosure shows that the president netted more than $526 million from sales of cryptocurrency tokens tied to World Liberty Financial. That is a firm managed in part by his sons, Eric and Donald Trump Jr.

Now, the president, we know, also holds several other cryptocurrency investments also adding to this fortune, as you mentioned, totaling roughly a billion dollars. That windfall comes on top of what we're learning as other income that the president has generated from properties. That includes, of course, his Mar-a-Lago property in Florida. That generated $77 million alone in resort-related revenue. That's up from about $50 million from the previous financial disclosure that they filed in 2024.

He also has continued, of course, to lend his name to an array of different companies and products and ventures, collecting heavy fees on those. One agreement with Celebration Coins paid Trump $635 million, according to this report.

Now, other more modest profits laid out in this include $4.7 million in royalties for Trump watches. You have $208,000 related to a Bible that the president, we know, has frequently touted and promoted, $67,634 for Trump sneakers and fragrances. This just gives you an idea of how much many products that the president has that is using his name that is giving him this type of income.

The president also reported nearly $440,000 in gifts, Kate, that he received over the last year. That's gifts from CEOs, from foreign leaders. Laid out in this, the gifts include 250,000, for example, from a New York businessman and GOP Congressional candidate. There's also $50,000 for ten 2025 Super Bowl tickets. There's other thousands of dollars that were given to him for UFC tickets, the upcoming FIFA, a game that he's going to be attending in New Jersey. So, a lot of money in gifts as well.

The list goes on. This disclosure comes after we know that the president already disclosed money that he's been making from stock trades. As you mentioned, the White House arguing there's no conflict of interest here. But this is just a massive amount of money in scope and scale from a president who we know likes to tout a lot of this from his perch in the Oval Office.

So, a lot to dig into in this hefty report. Kate?

BOLDUAN: Yep, just an added to the list of unprecedented with this president. Thank you so much, Alayna Treene at the White House for us. John?

BERMAN: Good work if you can get it.

All right, new this morning, a fuel shortage plagues earthquake recovery efforts.

And major changes coming to federal student loans, the news that borrowers will really want to hear.

(COMMERCIAL BREAK)

[07:10:00]

BERMAN: Breaking overnight, a 30-year Democratic incumbent falls, this as we see new signs of the ascendant energy in the left of the party. CNN projects that in Colorado, 15-term Congresswoman Diana DeGette has been defeated by 29-year-old Democratic socialist Melat Kiros.

(BEGIN VIDEO CLIP)

MELAT KIROS (D), COLORADO CONGRESSIONAL CANDIDATE: They said the establishment and the oligarchy is just too big and too powerful to overcome.

You are the proof that the power of organized people beats the power of organized money.

(END VIDEO CLIP)

BERMAN: Kiros, who was not born when DeGette was first elected, is the third progressive challenger to defeat a sitting House Democrat in just eight days.

Let's get right to CNN Senior Political Analyst Mark Preston for the latest on all of this. This is now something of a national trend we're seeing, Mark.

MARK PRESTON, CNN SENIOR POLITICAL ANALYST: Well, you know, John, it's certainly not a one-off, and we've seen it over the past couple of weeks. There's been so much focus on New York City and Zohran Mamdani over the past year since his election. But we've seen that the progressive wing, the very liberal wing of the Democratic Party, is starting to push back against the establishment.

If there was ever a generational shift in what we saw last night in Colorado, where Diana DeGette, who was considered a progressive in Congress, losing to somebody who is even farther to the left shows you right now as the Democratic Party has gone through four years of Donald Trump, again, has decided to push back against the same establishment.

We've seen not only happened again in Colorado last night, we've seen it happen in Washington, D.C., we saw it happen in New York City, we've seen it happen in Georgia. We're seeing it happen all across the country right now.

It's not a wave. Let us not tell anyone out there that it is a wave.

[07:15:01]

But the fact of the matter is the Democratic Party right now is going -- is undergoing this whole transformation right now, and we're seeing these younger, more aggressive, progressive Democrats take on the establishment. John?

BERMAN: Yes, look, you see an incumbent fall in a primary every now and then, but to see three lose in a week, that is remarkable. And you hear from almost any established Democrat, and they'll tell you, this is where the energy in the party is right now.

PRESTON: No, it totally is. And you know, you know, this pushback by the progressive wing of the party didn't just happen overnight. This goes way back to the Clintons. This goes back to the '90s where Bill Clinton and Hillary Clinton pushed the Democratic Party more to the center. We saw Barack Obama come in. For eight years, the Democratic Party was unified. They had something to rally around. We saw Bernie Sanders take on Hillary Clinton back in 2016. That was not well accepted by the Democratic establishment. We saw Bernie Sanders run again in 2020.

Look, what has happened is that the progressive wing over the past four to six years has tried to work with the establishment. They've tried to work within the bounds of the Democratic Party and it hasn't worked, and that's why we're seeing this pushback right now. John?

BERMAN: We will see if it continues throughout the summer, some other big states holding primaries in the coming months.

Mark Preston, great to see you, thank you very much. Kate?

BOLDUAN: New this morning, how the Trump administration plans to make something of an end run around the Supreme Court decision on birthright citizenship, the action that they have just taken.

And a developing story, spotted at Madison Square Garden, construction crews in Taylor Swift carpenters shirts. So, what does this tell you about the possible wedding plans coming up in the next few days? (COMMERCIAL BREAK)

[07:20:00]

SIDNER: Time is running out to rescue people trapped in the rubble one week after powerful earthquakes struck Venezuela. But as families search for loved ones, some of the heavy machinery needed to move large piles of concrete is still sitting there. That's because despite Venezuela being home to the world's largest reported oil reserves, there's not enough fuel to get excavators moving.

But as one survivor says, there is no time for sorrow. Venezuelans are using pickaxes, shovels, even their bare hands to get to where their loved ones may be buried or trapped.

CNN's Isa Soares reports.

(BEGIN VIDEOTAPE)

ISA SOARES, CNN CORRESPONDENT (voice over): With nothing more than borrowed tools, Delvis Ramos digs through the rubble.

The twin mattresses of his two little girls are within sight, and he anchors his strength in knowing that soon he will hold them close, even if it's a final goodbye.

DELVIS RAMOS, FAMILY MISSING AFTER EARTHQUAKE: (SPEAKING FOREIGN LANGUAGE).

SOARES: (SPEAKING FOREIGN LANGUAGE).

RAMOS: (SPEAKING FOREIGN LANGUAGE).

SOARES: While we hear a rescue team from North Carolina arrive looking for signs of life or death.

JACK THORPE, U.S. VOLUNTEER, RESOURCE RESCUE INTERNATIONAL: I know that we have still been finding people alive in these buildings, so I'm not ready to give up yet.

SOARES: Almost a week since those fateful back-to-back earthquakes, hope of finding survivors is fading fast.

But in the midst of unimaginable grief, a moment of compassion and humanity between an American rescuer and a grieving Venezuelan father.

The scene here in La Guaira is apocalyptic, with countless buildings pancaked by the ferocity of the quakes. And while families wait for answers, heavy machinery sits idle.

SOARES: (SPEAKING FOREIGN LANGUAGE)?

UNIDENTIFIED MALE: (SPEAKING FOREIGN LANGUAGE).

SOARES: He doesn't have petrol. He doesn't have fuel. I mean, tell that to the families. A sorry sight for one of the world's largest oil reserves.

Hassell Mendoza has seen this firsthand. She traveled from Tampa, Florida, to search for her loved ones.

HASSELL MENDOZA, FAMILY MISSING AFTER EARTHQUAKE: This guy, you know, worked with the nails. They try -- yes, the hands. They try to do everything without nothing. They don't have, you know, shoes. They don't have machine, like drills, the big drills that you need. They don't have sensors. They don't have anything.

SOARES: We walk from building to building. The scale of destruction stretches for blocks. Around every corner, a house of horrors.

Still, Venezuelans dig with rickety tools, shovels, and buckets. As we depart La Guaira, an arresting scene of casket after casket and of overwhelming loss.

Isa Soares, CNN, La Guaira, Venezuela.

(END VIDEOTAPE)

BOLDUAN: Thank you, Isa. Dangerous and potentially record-setting heat is coming for millions this July 4th. We are tracking all of these heat alerts for you. We'll bring it to you.

Next hour, President Trump is also going to be taking the inaugural flight on what is the jet gifted from the Qatari government.

(COMMERCIAL BREAK)

[07:25:00]

SIDNER: This morning, CNN has learned that just hours after the Supreme Court rejected President Donald Trump's effort to limit birthright citizenship, the Justice Department sent a letter to all U.S. attorneys directing them to prioritize investigations and the prosecution of, quote, birth tourism schemes. That's when foreign nationals travel to the United States for the express idea of giving birth here so that their child automatically acquires U.S. citizenship.

The Justice Department has previously brought cases against people involved in this, with some getting prison sentence for as long as 41 months.

CNN Senior Legal Analyst Elie Honig is with me now. First, I want to talk about what happened with this decision with the Supreme Court. President Trump clearly doesn't like this, and he has now gotten the speaker of the House to come along with him and is saying, I'm going to Congress, and I'm going to somehow sort of go around the court there. Is that going to work?

ELIE HONIG, CNN SENIOR LEGAL ANALYST: This is not going to work. You have to be delusional to think that you can pass a law that will then supersede what's in the Constitution. So, we now know as a result of yesterday's ruling that birthright citizenship in the 14th Amendment is what we have thought it has been for the last 158 years, which essentially says if you're born here, with very, very narrow exceptions, you are a citizen.

[07:30:06]

If Congress were to pass a law saying, no, it's actually much narrower.