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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin bounces back above $67,000, while ether drops more than 7% for the week: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, CNBC Crypto World spoke with Robert Mitchnick, BlackRock's head of digital assets, about crypto ETFs and Senator Bill Hagerty of Tennessee about crypto regulation from Bitcoin 2024 in Nashville.

Persons: explainers, Robert Mitchnick, Bill Hagerty Organizations: CNBC Crypto, CNBC Locations: Tennessee, Nashville

☆ U.S. has 'massive job' ahead with respect to crypto regulation: Tennessee Sen. Bill Hagerty
▼ + stars: | 2024-07-26 | by ( Mackenzie Sigalos | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. has 'massive job' ahead with respect to crypto regulation: Tennessee Sen. Bill HagertyUnited States Senator Bill Hagerty of Tennessee sat down with CNBC Crypto World from Bitcoin 2024 in Nashville to discuss digital asset regulation in the U.S. and how he feels about the crypto conference taking place in Nashville this year after years of being held in Miami, Florida.

Persons: Tennessee Sen, Bill Hagerty Organizations: Tennessee, CNBC Locations: Tennessee, Nashville, U.S, Miami , Florida

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ These 38 GOP senators just voted against protecting contraception. Here's why.
▼ + stars: | 2024-06-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Read previewThe Senate failed on Wednesday to advance a bill designed to protect access to contraceptives nationwide. Just two Republican senators — Susan Collins of Maine and Lisa Murkowski of Alaska — voted with Democrats to advance the bill. Advertisement"Do people really think that even a significant minority of the Republican conference is against access to contraception?" AdvertisementBut still — if Republicans aren't against contraception, why won't they just vote for the bill? Glenn Youngkin of Virginia vetoed a bill to protect access to contraception, arguing that it violated principles of religious freedom.

Persons: —, — Susan Collins of, Lisa Murkowski, Alaska —, Chuck Schumer, Republican Sen, Thom Tillis, — Schumer, it's, Tillis, Griswold, Roe, Wade, Clarence Thomas, They've, James Lankford, Lankford, Sen, Rick Scott of, Glenn Youngkin, John Barrasso of, John Barrasso of Wyoming Marsha Blackburn of Tennessee John Boozman, Arkansas Ted Budd of, Carolina Shelley Moore Capito, West Virginia Bill Cassidy, Louisiana John Cornyn, Texas Tom Cotton, Arkansas Kevin Cramer of, Arkansas Kevin Cramer of North Dakota Mike Crapo, Idaho Ted Cruz of, Idaho Ted Cruz of Texas Steve Daines, Montana Joni Ernst, Iowa Deb Fischer, Nebraska Chuck Grassley, Josh Hawley, Missouri John Hoeven of, Missouri John Hoeven of North Dakota Cindy Hyde, Smith, Mississippi Ron Johnson, Wisconsin James Lankford, Oklahoma Mike Lee, Utah Cynthia Lummis, Wyoming Roger Marshall of Kansas Mitch McConnell, Kentucky Markwayne Mullin, Oklahoma Rand Paul of Kentucky Pete Ricketts, Nebraska Jim Risch, Idaho Mike Rounds, South Dakota Marco Rubio, Eric Schmitt, Missouri Rick Scott, Florida Tim Scott of, Florida Tim Scott of South Carolina John Thune of, Florida Tim Scott of South Carolina John Thune of South Dakota Thoms Tillis, North Carolina Tommy Tuberville, Alabama Roger Wicker, Mississippi Todd Young, Mike Braun, Indiana Katie Britt, Alabama Lindsey Graham of, Alabama Lindsey Graham of South Carolina Bill Hagerty, Tennessee John Kennedy, Louisiana Jerry Moran of, Louisiana Jerry Moran of Kansas Mitt Romney, Utah Dan Sullivan, Alaska JD Vance, Ted Budd Organizations: Service, Nine Republicans, Democratic, Republican, Business, Republicans, GOP, Oklahoma Republican, Democrats, Republican Gov, Arkansas Kevin Cramer of North, Nebraska, Kentucky, Oklahoma, South, Florida Tim Scott of South Carolina John Thune of South Dakota, North, Alabama Lindsey Graham of South Locations: — Susan Collins of Maine, Alaska, North Carolina, . Connecticut, James Lankford of Oklahoma, Oklahoma, Rick Scott of Florida, Virginia, John Barrasso of Wyoming, Arkansas, West, Louisiana, Texas, Arkansas Kevin Cramer of North Dakota, Idaho, Idaho Ted Cruz of Texas, Montana, Missouri, Missouri John Hoeven of North Dakota, Mississippi, Wisconsin, Utah, Wyoming, Nebraska, South Dakota, Florida, Florida Tim Scott of South Carolina, Florida Tim Scott of South Carolina John Thune of South, Alabama, Indiana, Alabama Lindsey Graham of South Carolina, Tennessee, Louisiana Jerry Moran of Kansas, Ohio

☆ Trump embarks on a fundraising juggernaut after his conviction on 34 felony counts
▼ + stars: | 2024-05-30 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

But while Trump's small-dollar donors mobilize amid new Trump campaign ads labeling the former president a "political prisoner," Trump himself is gearing up to raise big money from wealthy Republicans. Trump campaign aides said late Thursday that it was unclear exactly how much the campaign had raised that day from small-dollar donors, but it was enough that the campaign's donation website crashed intermittently. Banks, a veteran Trump ally, told CNBC that Helberg is bridging the gap between Silicon Valley, Washington, D.C., and the defense industry. "I hope he'll play a big role in President Trump's second term and I look forward to seeing him in Milwaukee," Banks said. Helberg recently told The Washington Post that he gave $1 million in support of Trump after years of backing Democrats.

Persons: David Sacks, Chamath, Trump, Donald Trump, Joe Biden's, Barack Obama, Bill Clinton, Biden, Jacob Helberg, Alex Karp, Helberg, Palmer Luckey, Tommy Tuberville, Bill Hagerty, Jim Banks, Banks, Trump's, Hagerty Organizations: CNBC, Trump, Republicans, Hamptons, Republican, Madison, Republican National Convention, Garden, MSG, Radio City Music, NBC News, Democratic Party, Anduril Industries, D.C, Press, Anduril, Republican National Committee, Washington Post, Biden, Fund, Commission, America Locations: San Francisco, Texas, California, New York, New York City, Manhattan, Milwaukee, Sens, Ohio, Silicon Valley , Washington, United States, China, Israel

☆ Trump has touted potential VP picks for months. He may end up picking someone off the public’s radar
▼ + stars: | 2024-05-29 | by ( Kristen Holmes | Steve Contorno | ) edition.cnn.com time to read: +9 min

CNN —In recent weeks, an increasingly familiar list of Republicans has dominated the not-very-subtle competition to become Donald Trump’s running mate. Trump himself has added to the air of inevitability by floating these names in interviews and appearances over and over. Many around the campaign believe the lack of secrecy surrounding the open audition raises the possibility Trump ultimately picks someone off the public’s radar. A source confirmed Trump floated Cotton’s name during a recent private dinner, surprising some of his guests. Earlier this year, Hagerty was spotted at Trump International Golf Club in West Palm Beach with the former president.

Persons: Donald Trump’s, Trump, “, Ben Carson, Florida Sen, Marco Rubio, Marco Rubio , Ohio Sen, J.D, Vance, Elise Stefanik, Doug Burgum, South Carolina Sen, Tim Scott, Maria Elvira Salazar, Sens, Tom Cotton of, Bill Hagerty of, Tulsi Gabbard, Nikki Haley, Rubio, Salazar, ” Salazar, Trump’s, Lester Woerner, Cotton, –, Gabbard, Howard Lutnick, Hagerty, Doug Kaplan, Joe Biden, Kamala Harris, Ron DeSantis, Kristi Noem, Kaplan, ” Kaplan, ”, Haley, Ralph Norman of, ” Norman Organizations: CNN, Republicans, Urban, Republican National Convention, Florida Rep, Hawaii Rep, South Carolina Gov, Trump, Univision, Mar, New York Times, Democratic, Kaplan, Florida Gov, South Dakota Gov, Trump International Golf Club, West Palm Beach, Republican, GOP Locations: Manhattan, Trump, Florida, Marco Rubio , Ohio, North Dakota, South Carolina, Milwaukee, Tom Cotton of Arkansas, Bill Hagerty of Tennessee, English, New York, Cuban, Miami, Palm Beach, Washington, –, Cotton, Congress, South, Carson, Hagerty, Japan, West Palm, Pennsylvania, Ralph Norman of South Carolina, Indiana, Trump’s

☆ Who’s coming to the White House’s Japan state dinner: the Clintons, De Niro, Bezos
▼ + stars: | 2024-04-10 | by ( Betsy Klein | ) edition.cnn.com time to read: +4 min

The guest list also includes Director of National Intelligence Avril Haines, US Trade Representative Katherine Tai, US Ambassador to the United Nations Linda Thomas-Greenfield and White House chief of staff Jeff Zients. NBC News White House correspondent Kelly O’Donnell, who is the president of the White House Correspondents Association, will attend, as well as Washington Post columnist Josh Rogin. First lady Jill Biden chose Simon to perform at the state dinner because Kishida also “shares an appreciation” for his work, a White House official said. The state dinner for South Korean President Yoon Suk Yeol featured a Broadway star’s performance of Don McLean’s “American Pie” – a personal favorite of Yoon. It led to one of the iconic state dinner moments of the Biden presidency – Yoon picking up a microphone to serenade guests with a few lines from the song.

Persons: Bill Clinton, Hillary Clinton, Robert De Niro, Jeff Bezos, Fumio Kishida, Joe Biden, Kristi Yamaguchi, Tim Cook, Laurence Fink, Jamie Dimon, Brad Smith, Shawn Fain, Cecile Richards, Antony Blinken, Janet Yellen, Alejandro Mayorkas, Jennifer Granholm, Gina Raimondo, National Intelligence Avril Haines, Katherine Tai, United Nations Linda Thomas, Jeff Zients, CQ, Jerome Powell, Bill Nelson, Biden, Donald Trump, De Niro, Nelson, ” Nelson, Sen, Bill Hagerty, Trump, Rahm Emanuel, Kelly O’Donnell, Josh Rogin, Kamala Harris, Doug Emhoff, Kathy Hochul, Josh Shapiro, Tony Evers, Roy Cooper of, Mazie, Jeff Merkley, Ashley Biden, Howard Krein, Finnegan Biden, Naomi Biden Neal, Peter Neal, Paul Simon, Jill Biden, Simon, Kishida, ”, It’s, Yoon Suk, Don McLean’s, Yoon, – Yoon, CNN’s Arlette Saenz Organizations: CNN, Amazon, White, Japan’s, Apple, BlackRock, JPMorgan, Microsoft, United Auto Workers, Planned, Biden, Homeland, Senate, Energy, National Intelligence, US, United Nations, White House, Joint Chiefs, Staff, Federal, NASA, Tennessee Republican, NBC, White House Correspondents Association, Washington, Democratic, Gov, Pennsylvania, South Korean Locations: Japanese American, Greenfield, Cleveland , Ohio, Japan, New York, Tony Evers of Wisconsin, Roy Cooper of North Carolina, Hawaii, Oregon

☆ Trump-backed GOP leaders call for embrace of early and mail-in voting even as former president continues to cast doubt
▼ + stars: | 2024-03-28 | by ( Daniel Strauss | ) edition.cnn.com time to read: +10 min

That’s very much a state-by-state process.”“Republicans will have to develop that if they decide they want to push mail voting and early voting or both. Republicans’ uneven approach to early voting reached an apex during the pandemic when Trump would regularly cast doubt on the safety and security of voting by mail or voting early. “Vote early. Vote early. But the danger for Republicans is that disillusionment with mail-in voting or voting early, fueled in large part by Trump, might be too deeply baked into party sentiment.

Persons: Donald Trump, “ We’ll, ”, Lara Trump, we’re, ” Lara Trump, Michael Whatley, ” Whatley, –, Barry Burden, ” Burden, “, Glenn Youngkin, I’m, ” Youngkin, Ronna McDaniel, Tennessee Sen, Bill Hagerty, Byron Donalds, Trump, ” Trump, don’t, “ there’s, you’ve, Schouten, Kate Sullivan Organizations: CNN, Top Republican, GOP, Republican National Committee, Fox News, RNC, Trump, Republican, Party, Elections Research, University of Wisconsin -, MIT, Science, Britain’s, Virginia Gov, Virginia, ‘ Bank, House Republican, Tennessee, Florida Rep, Bank, Republicans, Pew Research Locations: Michigan, Pennsylvania, Nevada, University of Wisconsin - Madison, Iowa, Nevada , Arizona, Wisconsin

☆ Sen. Bill Hagerty on regulating AI in financial markets, fate of $118B border security package
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Bill Hagerty on regulating AI in financial markets, fate of $118B border security packageSen. Bill Hagerty (R-Tenn.) joins 'Squawk Box' to discuss his opposition against proposed SEC rules on how financial advisors use AI, how to best regulate AI, why he's against the $118 billion border deal package, and more.

Persons: Email Sen, Bill Hagerty, Sen Organizations: Email, SEC

☆ New Senate bill aims to kill proposed SEC rule on AI conflicts of interest
▼ + stars: | 2024-02-06 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

More than 20 Republican lawmakers in the House and Senate sent Gensler a letter last fall, calling on the SEC to withdraw the rule. Ted Cruz (R-Texas) and Bill Hagerty (R-Tenn.). The Senate bill currently lacks Democratic support, meaning it's unlikely to get much traction as long as Democrats control the Senate. If the final SEC rule is issued after the beginning of November, and not before it, then the rule could fall in the window of CRA, come January 2025. He also argued the precedent has been for the SEC to require firms to disclose potential areas of interest, not eliminate them completely.

Persons: Ted Cruz, Sen, Bill Hagerty, WASHINGTON —, Gary Gensler, Gensler, Sens, Cruz, Ritchie Torres Organizations: Republican, Republicans, U.S, Capitol, Washington , D.C, Securities and Exchange Commission, SEC, Senate, CNBC, Democratic, Act Locations: Texas, Washington ,

☆ Japan's Message for Donald Trump: Don't Cut a Deal With China
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +8 min

Trump, who reached a trade agreement with Beijing in 2019 that later expired, has not mentioned any potential deal with China during his campaign for the 2024 nomination. Two Japanese foreign ministry officials said they fear that Trump may be prepared to weaken U.S. support for nearby Taiwan in pursuit of a deal with China. A Trump aide told Reuters that no recent meetings have taken place between Trump and Japanese officials. "If he is going to cut a deal with China, Japan needs to try and get ahead of the curve and understand its potential role to support its interests in both the U.S. and in China," said Machida. Robert O'Brien, Trump's former national security adviser, also has connections with Japanese officials, two of the sources said.

Persons: John Geddie, Tim Kelly, Yoshifumi, America's, Donald Trump, Fumio Kishida, Joe Biden's, Trump, Xi, Kim Jong Un, they're, Ado Machida, Machida, Shinzo Abe, Aso, Japan's, Shigeo Yamada, Mike Pence, Jim Mattis, Mike Pompeo, Michael Green, Bill Hagerty, Yamada, Hagerty, Robert O'Brien, Trump's, O'Brien, Shigeru Kitamura, Biden, Tsuneo Watanabe, John Bolton, Watanabe, Yukiko Toyoda, Kaori Kaneko, Sakura Murakami, David Brunnstrom, Tim Reid, Ben Blanchard, Laurie Chen, Liz Lee, David Crawshaw Organizations: Trump, Republican, Group, North, Reuters, Fox News, U.S, Steel, Japan's Nippon Steel, U.S ., Liberal Democratic Party, . Studies, University of Sydney, Japan's U.S, Taiwan, Peace Foundation Locations: TOKYO, Japan, Asia, China, Beijing, Tokyo, Iowa, New Hampshire, U.S, Taiwan, Washington, Trump, Taipei

☆ Nvidia is the stock of the year. Can it last?
▼ + stars: | 2023-12-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —It would be an understatement to say that it’s been a good year for Nvidia. The California-based chipmaking giant has seen its shares soar about 220% this year, making it the top performing S&P 500 stock in 2023. What’s happening: Just before Thanksgiving, Nvidia crushed doubts that its star was fading by reporting gangbuster third quarter earnings. By Sosnick’s count, Nvidia executives mentioned AI at least 70 times on their most recent earnings call. Historically, Nvidia has had hard falls after missteps — between 2021 and 2022, shares of the stock fell by 66%.

Persons: Hannah de Wolf, Colette Kress, There’s, ”, Steve Sosnick, we’ve, Nvidia …, Dan Ives, Goldman Sachs, Piper Sandler, Harsh Kumar, Sarat Sethi, DCLA, Sethi, it’s, missteps, hasn’t, Matt Egan, Robert Jackson Jr, Joshua Mitts, “, Mitts, it’s “, ” Mitts, Jackson, Catherine Cortez Masto, Biden, Cortez Masto, “ I’m, Todd Young, Tim Kaine, Mark Warner, Rand Paul, Mitch McConnell, Bill Hagerty, Marsha Blackburn ,, Joe Manchin, Roger Marshall, Katie Britt Organizations: CNN Business, Bell, New York CNN, Nvidia, Revenue, Nvidia can’t, Washington Service, Interactive, CNBC, Columbia University, New York University, Israel, Fund, SEC, NYU, …, CNN, US, EU, Indiana Locations: New York, California, China, Wedbush, Israel, Gaza, Columbia, Nevada, American, Virginia, Kentucky, Tennessee, Marsha Blackburn , West Virginia, Joe Manchin , Kansas, Alaska

Just hours before the government was set to shut down, lawmakers reached a funding deal. AdvertisementAdvertisementLawmakers in Congress miraculously managed to avoid a government shutdown, just three hours before the 12:01 a.m. deadline. AdvertisementAdvertisementNotably, the bill did not contain more funding for Ukraine, a key objection for some Republicans. The consequences of a shutdown would have been drastic for thousands of federal workers, along with Americans who rely on a range of federal programs. House Democrats said in the statement that they expect McCarthy to advance a bill to the House floor for an up-or-down vote on Ukraine funding.

Persons: —, Kevin McCarthy, Joe Biden, Marsha Blackburn, Mike Braun, Ted Cruz, Bill Hagerty, Mike Lee, Roger Marshall, Rand Paul, Eric Schmitt, JD Vance, Matt Gaetz, McCarthy, Gaetz, Andrew Bates, Biden Organizations: Service, Federal Aviation Administration, National Flood Insurance, Ukraine, Republican, Social, GOP, Democratic, House Republicans, House Democrats, Republicans Locations: Ukraine

NASHVILLE, Tenn. (AP) — Tennessee state Rep. Gloria Johnson, a Democrat who shot to national fame after surviving a Republican-led expulsion effort for participating in a pro-gun control demonstration, on Tuesday formally announced that she's running for U.S. Senate. Shortly after the expulsion vote, Johnson quickly noted that likely she avoided expulsion because she was white. Blackburn first won the Tennessee Senate seat in 2018, defeating Democratic former Gov. In the Democratic primary for the Senate seat, Johnson will face off against community activist and organizer Marquita Bradshaw. Bradshaw won the Democratic Senate nomination in 2020, and lost the general election to Republican Bill Hagerty by 27 percentage points.

Persons: Gloria Johnson, Johnson, Sen, Marsha Blackburn, “ Gloria, ”, Justin Pearson, Justin Jones, ” Pearson, Jones, Pearson, Phil Bredesen, Blackburn, Donald Trump, Trump, Marquita Bradshaw, Bradshaw, Bill Hagerty, “ It’s, Abigail Sigler, Joe Biden, Chuck Schumer, ” Blackburn Organizations: Republican, Tuesday, U.S . Senate, Republican U.S, Democratic, Tennessee, Republicans, Blackburn, Tennessee Senate, Gov, Tennessee voters, Senate, “, Democrat Locations: Tenn, Tennessee, Washington

☆ New bipartisan bill in Senate could address TikTok security concerns without a ban
▼ + stars: | 2023-06-14 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

Much of the existing legislation addressing TikTok at the federal and state level has focused on bans of the app. Wednesday’s legislation, known as the Protecting Americans’ Data From Foreign Surveillance Act, does not identify TikTok by name. TikTok has faced criticism from US officials who say the company’s links to China pose a national security risk. Congress has made several attempts in recent months to address data transfers to foreign adversaries. In February, House lawmakers advanced a bill that would all but require the Biden administration to ban TikTok over national security concerns about the app.

Persons: Oregon Democratic Sen, Ron Wyden, Wyoming Republican Sen, Cynthia Lummis, —, ” Wyden, Wyden, TikTok, ByteDance, Biden, Justin Sherman, ” Sherman, Rhode Island Democratic Sen, Sheldon Whitehouse, Sheldon Whitehouse , Tennessee Republican Sen, Bill Hagerty, New Mexico Democratic Sen, Martin Heinrich, Florida Republican Sen, Marco Rubio, Warren Davidson, Anna Eshoo Organizations: CNN, Oregon Democratic, Wyoming Republican, ByteDance, Commerce Department, Oracle, Texas, Commerce, Duke University’s Sanford School of Public, Rhode, Rhode Island Democratic, Sheldon Whitehouse , Tennessee Republican, New Mexico Democratic, Florida Republican, Ohio Republican, California Democratic Locations: China, United States, Russia, Rhode Island, Sheldon Whitehouse , Tennessee, New Mexico, Florida

☆ China's aggressive behavior responds to power and strength, says Sen. Bill Hagerty
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's aggressive behavior responds to power and strength, says Sen. Bill HagertyU.S. Sen. Bill Hagerty of Tennessee joins 'The Exchange' to discuss Secretary Blinken's upcoming trip to China, growing tensions between the U.S. and China, and fallout from the latest budget cut deal.

Persons: Sen, Bill Hagerty Organizations: U.S Locations: Tennessee, China

☆ US seeks to curb investment in Chinese chips, AI and quantum computing
▼ + stars: | 2023-05-31 | by ( Karen Freifeld | ) www.reuters.com time to read: +2 min

WASHINGTON, May 31 (Reuters) - New rules under consideration would restrict the flow of U.S. investments and know-how into Chinese companies working on advanced semiconductors, artificial intelligence and quantum computing, a U.S. Treasury official said on Wednesday. Reuters reported in February that the Biden administration plans to ban investments in some Chinese technology companies and increase scrutiny of others, three sources said, as part of its plan to crack down on the billions that American firms have poured into sensitive Chinese sectors. China hawks in Washington blame U.S. investors for transferring capital and valuable know-how to Chinese tech companies that could help advance Beijing's military. Separately, Republican Senator Bill Hagerty asked about efforts to restrict the supply of U.S. origin goods to Chinese telecommunications company Huawei. Reporting by David Shepardson and Daphne Psaledakis in Washington, and Karen Freifeld in New York; Writing by Chris Sanders; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Rosen, Biden, Bill Hagerty, Thea Rozman Kendler, Kendler, David Shepardson, Daphne Psaledakis, Karen Freifeld, Chris Sanders, Daniel Wallis Organizations: Treasury, Reuters, Republican, Huawei, Exports, Commerce, Thomson Locations: U.S, China, Washington, New York

☆ US official says Chinese cloud companies like Huawei could pose threat
▼ + stars: | 2023-04-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, April 26 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Wednesday that Chinese cloud computing companies like Huawei Cloud and Alibaba Cloud (9988.HK) could pose a threat to U.S. security and vowed to review a request to add them to an export control list. A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Technologies Co's (HWT.UL) cloud unit, Alibaba Cloud and other Chinese cloud service providers. They want Raimondo to add the companies to the Entity List, which imposes U.S. export controls on foreign companies. Raimondo said the Chinese cloud companies could pose a threat. In May 2019, the Commerce Department added Huawei to the export control list over U.S. security concerns.

☆ Biden should sanction Huawei Cloud, other Chinese firms -senators
▼ + stars: | 2023-04-25 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 25 (Reuters) - A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Cloud and other Chinese cloud service providers, citing national security concerns, according to a letter seen by Reuters. The senators said Huawei Cloud launched its "Sky Computing Constellation" in co-sponsorship with Changsha Tianyi Space Science and Technology Research Institute also known as "Spacety China" in 2021. Alibaba Cloud, a subsidiary of Alibaba Group Holding Ltd (9988.HK), did not immediately comment. Reuters reported in January 2022 that the Biden administration was reviewing the cloud business of e-commerce giant Alibaba to determine whether it poses a risk to U.S. national security. The letter said the Biden administration should consider further investigation or actions against China’s other cloud service providers including Baidu Cloud and Tencent Cloud which may impact U.S. national security.

☆ Senate Republicans call on Biden administration to clamp down on cloud companies with ties to China
▼ + stars: | 2023-04-25 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —A group of Republican senators on Tuesday urged the Biden administration to “use all available tools” to sanction cloud computing firms with links to China. They also called for the Biden administration to investigate other cloud companies operated by Baidu and Tencent. The letter comes amid heightened tensions between the United States and China, and as scrutiny mounts in Washington of businesses with ties to China, including TikTok. The Biden administration has threatened TikTok with a nationwide ban unless its Chinese owners sell their stakes in the company. Some lawmakers have also called for the app to be banned, citing national security risks.

☆ China wants the dollar's dominance to fade - and the US should defend its reserve currency status, Biden nominee says
▼ + stars: | 2023-04-19 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Lawmakers should raise the debt ceiling to defend the greenback's reserve currency status, he says. "I think there's some evidence that it does," he told Tennessee Senator Bill Hagerty, who had asked whether China wants the dollar's dominance as the global reserve currency to fade. "There are extremely important privileges, and even in the realm of security [there are] benefits to having the reserve currency," Bernstein added. "One of the most obvious is of course sanctions — if you control the reserve currency, you are able to impose sanctions as we've done on Russia to considerable effect." Read more: The anti-dollar drive spearheaded by Asia has spread to Europe, with France growing sour on the greenback's dominance.

☆ San Francisco Fed leader Daly likely not a major player in SVB saga, officials say
▼ + stars: | 2023-03-31 | by ( Steve Liesman | ) www.cnbc.com time to read: +5 min

"She was not in the chain of command," one former Fed bank president told CNBC. "Supervisory action taken by the San Francisco Fed staff would have been cleared by Washington." Daly and Fed board officials declined to comment for this report. San Francisco Federal Reserve President Mary Daly reacts at the Los Angeles World Affairs Council Town Hall, Los Angeles, California, U.S., October 15, 2019. A review of what went wrong will likely point more heavily to Washington, its supervisory bureaucracy and the board leadership than to San Francisco.

WASHINGTON/NEW YORK, March 25 (Reuters) - The banking crisis set off by the swift collapse of Silicon Valley Bank (SIVB.O) has exposed a sharp disconnect between Washington and Wall Street. Some critics are asking whether the Biden administration could have contained the crisis with aggressive actions at the start. FINDING A BUYER FOR SVBThe failure of the nation's 16th largest bank caught regulators off guard. The banking industry itself is not united on how to reassure depositors. The banking industry is searching for sweeping relief to calm markets, while Washington is discussing how to prevent the next crisis.

It's something that the Treasury and regulators did in the depths of the 2008 global financial crisis, but regulatory reforms in 2010 required a streamlined approval from Congress. Meanwhile, hardline Republicans oppose any increase in the current $250,000 Federal Deposit Insurance Corp insurance limit. Yellen explained to the U.S. Senate on March 16 that there would be no guarantee for deposits in banks not deemed a systemic threat, spooking community banks. A temporary systemwide deposit guarantee is needed to stop the bleeding," Ackman said on Twitter after Yellen's testimony to a Senate committee on Wednesday. Yellen is due to testify later on Thursday before the U.S. House of Representatives Appropriations Subcommittee on Financial Services and General Government.

☆ Senate confirms Eric Garcetti as U.S. ambassador to India
▼ + stars: | 2023-03-15 | by ( Sahil Kapur | Frank Thorp V | ) www.cnbc.com time to read: +3 min

The Senate voted 52-42 on Wednesday to confirm former Los Angeles mayor Eric Garcetti to be the next U.S. ambassador to India. The long-delayed Garcetti nomination grew unusually contentious and sparked some last-minute drama. Several Democrats voted against advancing his nomination, but enough Republicans backed Garcetti to give the U.S. its first permanent ambassador to India under President Joe Biden, more than two years into his term. "The United States-India relationship is extremely important, and it's a very good thing we now have an ambassador," Senate Majority Leader Chuck Schumer, D-N.Y., said. But a group of Republicans voted yes and helped secure the necessary support, including Sens.

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