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Mark Cuban says Silicon Valley's support Trump could be a bet on higher Bitcoin prices. The tax cuts, tariffs and uncertainty that comes with a Trump win will push prices, Cuban said. AdvertisementMark Cuban says he has a "contrary opinion" on why Silicon Valley's tech titans have decided to back former President Donald Trump. Cuban explained that the outpouring of support wasn't so much because they saw Trump as a "far stronger proponent of crypto." This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, Marc Andreessen, Donald Trump's, Mark Cuban, Trump, , Donald Trump, Cuban Organizations: Trump, Service, SEC, Business
watch nowThere are a lot of synergies between the bitcoin mining and AI infrastructure businesses. watch nowBeefing up the gridFor years, Crusoe's work has been virtually synonymous with the bitcoin mining industry. But Crusoe's Lochmiller told CNBC that AI infrastructure has actually been part of the vision since the company's founding six years ago. Back in 2018, Fenn says that the only load that was a good fit for this was bitcoin mining. "That has all changed now, with AI data centers optimized for massive scale energy availability, cost, and greenness.
Persons: Nolan, Robert Daemmrich, Ali Fenn, Chase Lochmiller, Crusoe's, JPMorgan Chase, Asher Genoot, Riley, CoreWeave, Crusoe's Lochmiller, Lancium's Fenn, Lancium, Fenn Organizations: Corbis, American, Energy Systems, CNBC, Mining, JPMorgan, Nvidia, CoreWeave, Core, ExxonMobil, Crusoe Industries, Miners Locations: Buffalo, Taylor, Abilene , Texas, West Texas, Abilene, Houston, Denver, U.S, Iceland, Miami, North Dakota, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hitting $100,000 is just a matter of time, strategist saysNoureldeen Al Hammoury, chief market strategist at Squared Financial, discusses the surge in gold prices and the outlook for bitcoin.
Persons: Noureldeen Al Hammoury Organizations: Squared Financial
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew multi-billion dollar deal adds to rising trend of bitcoin miners moving to AI: 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, Ryan Condron, CEO of Lumerin, discusses the role bitcoin mining plays in stabilizing power grids strained by AI data centers.
Persons: explainers, Ryan Condron Organizations: CNBC Crypto, CNBC
In today's big story, Amazon wants to stop employees skirting in-office mandates by tracking their hours spent in the office . The big storyPunching the clockGetty Images; Jenny Chang-Rodriguez/BIAt Amazon, coffee is for closers people who spend at least 2 hours in the office. AdvertisementBusiness Insider's Eugene Kim has a report on Amazon monitoring the hours its corporate employees spend in the office . Amazon and its employees have been in an ongoing battle over its return-to-office mandate, which was first announced early last year. AdvertisementFor Amazon employees, the RTO mandates have been shrouded in mystery and confusion.
Persons: , you've, Jenny Chang, Rodriguez, Eugene Kim, it's, Eugene, they've, Justin Sullivan, Getty, Dell, Polly Thompson, Lizzie Reed, Goldman Sachs, Mark McQueen, Elizabeth Reed, Donald Trump's, Fundstrat's Tom Lee, Russell, Deena So'Oteh, Greg Warnock, Warnock, Elon Musk, Tesla, Stephen Pasterino, Rachel Katzman's, Jennifer Aniston, Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Denver Airport, Business, Amazon, Foods, Dell, Computer, Workers, Goldman, Walmart, Treasury, Netflix, SpaceX, Lone Star State, Northeast, BI, Olympic, United Airlines, Johnson Locations: it's, Corporate America, Utah, California, Texas, Paris, Seine, New York, London
Ethereum co-creator Vitalik Buterin on Wednesday cautioned against voting for political candidates based solely on whether they have adopted a "pro-crypto" stance. The best example of this is, predictably, modern Russia," added Buterin, a Russia-born coder who built ethereum in his late teens. Buterin did not single out any names in his post of either political candidates, or of those opting to support them. It comes in stark contrast to the Joe Biden White House, which has been seen as hard on crypto. However, the perception that Biden is anti-crypto and Trump is pro-crypto has some Biden allies concerned enough to take their case directly to senior White House officials.
Persons: Ethereum, Vitalik Buterin, Buterin, Putin, Donald Trump, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Donald Trump's, Ben, Marc Show, Horowitz, Joe Biden, They've, They're, Andreesen Horowitz, Coinbase, coder, Tesla, Elon Musk, Peter Thiel, Tyler, Cameron Winklevoss, Trump, , Sen, Elizabeth Warren, bitcoiners, JD Vance, Vance, Biden Organizations: Republican National Convention, U.S . Securities, Exchange Commission, Federal Deposit Insurance Corporation, Trump, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Republican, Joe Biden White, SEC, Biden, White House Locations: Milwaukee, U.S, Russia, San Francisco, Washington, Mar, Nashville , Tennessee
Courtesy of Tess WaresmithHer current portfolio: real estate, index funds, individual stocks, crypto, and cashWaresmith has continued to diversify her portfolio over the years. "But then there are other ways to diversify within the stock market and also outside the stock market. "I think there's a misconception around real estate investing that you have to have 300 units to be successful," she said. In her case, the first deal she did was "a total game changer and allowed me to invest more in the stock market. The stock market: index funds and individual stocksWaresmith prefers index funds because "it's such an easy way to get exposure to the whole stock market," but a small portion of her portfolio, less than 5%, is in individual stocks.
Persons: , Tess Waresmith, Waresmith, Tess, Waresmith's, I've, she's, I'm, It's Organizations: Service, Boston University, Fortune, Business, BU, America Locations: New England, America, Tampa , Florida, Salem , Massachusetts, Tampa, Massachusetts
AdvertisementThe Thiel effectFor Vance, Thiel's influence first left its mark when he was still a student. Thiel also got a shoutout on the acknowledgments page of Vance's 2016 book, "Hillbilly Elegy." The former PayPal CEO has given $15 million to Vance's campaign, Politico reported — the largest donation ever given to one Senate candidate. AdvertisementOne of Trump's biggest donors in the 2016 presidential campaign, Thiel has re-emerged as a key player in the MAGA movement after largely sitting out the 2020 election. Thiel also appears to have pulled some of his Silicon Valley strings to advance Vance's campaign.
Persons: , JD Vance, Peter Thiel, Vance, Donald Trump, Thiel, Palantir, Elon Musk, Thiel's, meaninglessness, Tolkien, Steve Case, Trumper, Win McNamee, MAGA, Trump, David Sacks, Musk, Sacks, Tucker Carlson, Nordin Catic, Mark Zuckerberg Organizations: Service, Republican National Convention, Republican, White, Business, PayPal, Trump, Bloomberg, Yale, Yale Law School, Thiel's, Mithril, Narya, Politico, Republican Party, Fox News, Cambridge University Union, Facebook, Palantir Technologies, Spotify Locations: Milwaukee, Ohio, Mithril, Mar, Cambridge, England, Airbnb
Tragedy strikes and traders (or trading algorithms) sniff out a way to make money off of it. Stocks also went on a tear as Covid-19 killed millions and gutted economies across the globe. “The market’s up today, but the market’s up every day,” Steve Sosnick, chief strategist at Interactive Brokers, tells me. Whether or not the political bump lasts, some traders did seize on the moment to double down on so-called Trump trades. In short, when the yield curve gets steeper, that’s a sign bond traders are nervous.
Persons: CNN Business ’, Stocks, it’s, Steve Sosnick, Sosnick, , , Trump, Reagan, Coinbase, Elon Musk, Sturm Ruger, he’s, Joe Biden —, ” Sosnick, they’re Organizations: CNN Business, New York CNN — Financial, Dow, Interactive, Trump, White, Macquarie, Trump Media, Smith, Wesson, Democratic, Treasury Locations: New York
Money launderers are increasingly using cryptocurrencies to conceal the origins and movement of illegally-obtained funds, according to a report by Chainalysis. In 2024, money laundering in crypto encompasses all crime — not just that which is inherently tied to the crypto ecosystem," the blockchain analytics firm said in a July report. Money launderers use various methods such as crypto mixers, cross-chain bridges and "hops" between wallets to conceal the flow of funds. Crypto mixers, or tumblers, involve mixing crypto from various sources to make the detection of their origin and ownership difficult. Bad actors also leverage on crypto bridges to hide the origins of funds by moving them between different blockchain networks.
Persons: Locations: Paris, France
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump's VP pickDonald Trump has chosen Senator JD Vance of Ohio as his vice presidential running mate for the 2024 election. Fed may not waitPowell said the central bank will not wait until inflation reaches its 2% target to cut interest rates. Fink believes bitcoin can offer uncorrelated returns and act as a hedge against currency debasement caused by excessive deficits.
Persons: Donald Trump, Russell, Jerome Powell, Trump's, JD Vance, Ohio, Trump, Vance, Biden, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Goldman, Goldman Sachs, Denis Coleman, Colin Langan Organizations: CNBC, Dow Jones, Nasdaq, Treasury, Federal, Truth, Trump, Republican, BlackRock, Goldman, JPMorgan, Citigroup, Wall Locations: U.S, Wells
Craig Wright, self-declared inventor of Bitcoin, arrives at federal court in West Palm Beach, Florida, U.S., on Friday, June 28, 2019. LONDON — Craig Wright, an Australian man who claimed to be the inventor of bitcoin , was on Tuesday referred to British prosecutors for committing alleged perjury. On Tuesday, British High Court Judge James Mellor decided to refer a case against Wright's claim to be the inventor of bitcoin to the Crown Prosecution Service — which is the organization that prosecutes criminal cases investigated by the police in England and Wales. The CPS will now consider whether Wright should be prosecuted for what Mellor called "wholescale perjury and forgery of documents," and decide on whether a warrant for arrest and possible extradition is needed. Wright has remained mostly silent since a High Court ruling was issued claiming that he had lied "extensively and repeatedly" in his evidence attempting to prove the case that he was bitcoin's inventor, Satoshi Nakamoto.
Persons: Craig Wright, James Mellor, bitcoin, Wright, Mellor, Satoshi Nakamoto Organizations: LONDON, British, Court, Crown, Service, CPS Locations: West Palm Beach , Florida, U.S, Australian, England, Wales
Dollar drifts as Powell comments bring September rate cut in focus
  + stars: | 2024-07-16 | by ( ) www.cnbc.com   time to read: +3 min
The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrencies gained on rising odds of former President Donald Trump getting reelected. The comments, likely Powell's last until his press conference following the Fed's July 30-31 meeting, shifted rate cut expectations. Markets are now anticipating 68 basis points of easing this year, with a rate cut in September fully priced in, CME FedWatch tool showed. "Markets may need to wait longer for the confirmation of their September rate cut hopes, and growth and labor data will be on the radar such as retail sales today."
Persons: Jerome Powell, Donald Trump, cryptocurrencies, Powell, We've, Charu Chanana, Trump, Gary Gensler, Chris Weston Organizations: Federal, Economic, of Washington, Saxo, Traders, Bank of Japan, Republican, cryptocurrency, San, SEC, New Zealand Locations: Tokyo, San Francisco
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump lauded at RNCFormer President Donald Trump was cheered and celebrated at the Republican National Convention in Milwaukee, his first appearance since an assassination attempt at a Pennsylvania rally. [PRO] 'Super 8'UBS has updated its "Super 8" list of top Asian tech stocks, seen as alternatives to the US "Magnificent Seven."
Persons: Donald Trump, Russell, Jerome Powell, Trump, JD Vance, Ohio, Elon Musk, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Donald Trump's Organizations: CNBC, Dow, Dow Jones, Nasdaq, Treasury, Federal, RNC, Republican National Convention, Sporting, Trump, BlackRock, CSI, Nikkei, UBS Locations: U.S, Milwaukee, Pennsylvania, Asia, Pacific, China, Hong
US stocks surged to record highs as markets mulled the impact of the attempted assassination of Donald Trump over the weekend. Investors anticipate the attempt will boost Trump's chances in the November Presidential election. AdvertisementUS stocks moved higher on Monday to test record highs after former President Donald Trump survived an assassination attempt over the weekend. Investors are betting that the tragic attempt on Trump's life will help hand him to the Presidency once again in November. A higher US dollar could also be in store under a potential Trump Presidency in November, though the dollar was about flat in early Monday trades.
Persons: Donald Trump, , bitcoin, Tesla, Trump, Kyle Rodda Organizations: Trump Media, Service, Trump Media & Technology Group, GEO Group, Trump Presidency, Treasury, Here's Locations: United States
Goldman Sachs — Shares slipped less than 1% after the bank posted a second-quarter earnings beat . Crypto stocks — Shares of bitcoin miners and cryptocurrency stocks rose as bitcoin and Ethereum popped more than 4%. Tesla — The electric vehicle stock rose 4%, building on a more than 25% gain so far this month. BlackRock — Shares rose 1.2%. The world's largest asset manager posted second-quarter adjusted earnings per share of $10.36, exceeding the LSEG consensus estimate of $9.93.
Persons: Donald Trump, Goldman Sachs, Goldman, LSEG, Coinbase, Tesla, AutoNation, Morgan Stanley, Baxter, — CNBC's Lisa Han, Hakyung Kim, Sarah Min, Jesse Pound, Pia Singh Organizations: Trump Media & Technology, Trump, Apple, Bloomberg News, Micro Computer, Walgreens, Alliance, Marathon, Technologies, Sunnova Energy, Energy, Stelco Holdings, CDK, Baxter Locations: India, Cleveland, BlackRock
The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency without registering with the Securities and Exchange Commission. (Photo Illustration by Justin Sullivan/Getty Images)Coinbase , MicroStrategy and Riot Platforms surged Monday as investors piled into crypto companies following bitcoin's rally to a two-week high. Bitcoin is up about 6% in the past 24 hours, trading at around $63,500 as of early Monday afternoon. Bitcoin accounted for 33% of trading volume on the platform in the first quarter, by far the biggest amount for any cryptocurrency. On Thursday, the company announced a 10-for-1 stock split, in order "to make MicroStrategy's stock more accessible to investors and employees."
Persons: Justin Sullivan, Donald Trump, Trump, Bitcoin, bitcoin Organizations: Securities, Exchange, Securities and Exchange Commission, Republican, Marathon, Miners Locations: CALIFORNIA, San Anselmo , California, Nashville , Tennessee, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin could still hit over $100,000: Inside Edge Capital's Todd GordonHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Capital's Todd Gordon, Brian Sullivan, Organizations: CNBC
Bitcoin is rising, with prices hitting a two-week high on Monday. Investors are likely betting that Trump will win the election after he survived an assassination attempt. Once a Bitcoin skeptic, Trump now says he's a crypto fan as he looks to woo undecided voters. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBitcoin surged after former president Donald Trump survived an assassination attempt on Saturday.
Persons: Trump, , Bitcoin, Donald Trump Organizations: Investors, Trump, Service, Business Locations: Pennsylvania
Several stocks could get a boost if former President Donald Trump wins the presidency and the GOP secures control of Congress, the odds of which have increased since the weekend, according to Wolfe Research. Here is a selection of stocks Wolfe expects to reap the benefits of a Trump reelection: Trump Media & Technology Group shares could benefit from a Trump win — and traders have already been piling into the stock since Saturday's event. Trading in Trump Media, which is the parent of social media platform Truth Social, has been volatile in recent months. The stock plunged about 50% in the three weeks after Trump was convicted on 34 felony counts on May 30. Other stocks Wolfe Research expects to benefit from a Trump win include UnitedHealth Group , Halliburton and Emerson Electric .
Persons: Donald Trump, Trump, Chris Senyek, Wolfe, Goldman Sachs, Charles Schwab, bitcoin Organizations: GOP, Wolfe Research, Investors, Trump, Republican National Convention, Republican, Federal Reserve, Trump Media & Technology Group, Trump Media, White House, Evercore, Citigroup, UnitedHealth, Halliburton, Emerson Electric Locations: Pennsylvania, Milwaukee, Technology
New York CNN —US markets rose Monday as investors processed the assassination attempt on former President Donald Trump over the weekend. The Dow rose 169 points, or 0.4%, paring its gains after hitting a fresh all-time high earlier in the session. The Republican Party’s campaign platform promises to “end Democrats’ unlawful and un-American crypto crackdown.”Shares of Trump Media & Technology Group, the former president’s social media company, popped 35.6%. A Trump win in November likely means the preservation or expansion of tax cuts and increased tariffs. While economic growth sounds positive for the US, some investors worry that it could reaccelerate inflation.
Persons: Donald Trump, Bettors, Joe Biden, Morgan Stanley, , Trump, , Mark Malek Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican Party’s, Trump Media & Technology Group, CNN, Federal Reserve, Siebert Financial Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock CEO Larry Fink: I believe bitcoin is a legit financial instrumentBlackRock chairman and CEO Larry Fink joins 'Squawk on the Street' to discuss the company's quarterly earnings results, economic outlook, his thoughts on the assassination attempt of former President Trump, investing landscape, capital markets, state of crypto, and more.
Persons: Larry Fink, Trump
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. Brendan Mcdermid | ReutersU.S. stocks are expected to get a short-term boost in the aftermath of the failed assassination of former president Donald Trump over the weekend, as analysts say the likelihood of his re-election in November has increased. "The events on Saturday, if they do anything, they strengthen the case for President Donald Trump to win the election in November. watch nowPolls showed Trump retaining his lead over President Joe Biden a day after the shooting at a Republican rally in Pennsylvania. "These events, as unfortunate as they are in terms of political change, do not really change the direction of global markets and the global economy," he said Monday.
Persons: Donald Trump, Brendan Mcdermid, Rob Casey, CNBC's, Trump, Casey, Brian Gardner, Joe Biden, Biden, Guillaume Menuet, It's Organizations: Reuters, Trump, Global Advisors, Republican, Democratic, BMI, Fitch Solutions, CNBC, EMEA, Citi Global Wealth Locations: Butler , Pennsylvania, U.S, Reuters U.S, Washington, Pennsylvania
Trump Media & Technology — Shares jumped nearly 29% as investors reacted to Saturday's attempted assassination of former President Trump , which has fueled increased conviction of a Trump win in this year's presidential election. Trump Media is the parent of social media platform Truth Social. Sturm, Ruger & Company , Smith & Wesson — Shares of the firearm manufacturing companies rose after Saturday's shooting at Trump's rally. Sturm, Ruger & Company rose 7%, while Smith & Wesson jumped 10%. Coinbase , Marathon Digital — Crypto stocks moved higher as investors increased their bets on a Trump election win, which they expect will benefit cryptocurrencies.
Persons: Donald Trump, Wolfe, Saturday's, Trump, Sturm, Smith, Wesson, Goldman Sachs, Goldman, LSEG, Coinbase, MicroStrategy, Bitcoin, Morgan Stanley, Baxter, Tesla, — CNBC's Hakyung Kim, Sarah Min, Lisa Kailai Han, Michelle Fox Organizations: UnitedHealth, — Health, Humana, Wolfe Research, Republican, Trump Media & Technology —, Trump, Trump Media, Brigade, Ruger & Company, Smith, Wesson, Ruger, Company, Sunnova Energy, NextEra Energy, Marathon, Apple —, Apple, Bloomberg News, Baxter Locations: Arkhouse, India
BlackRock CEO Larry Fink told CNBC's " Squawk on the Street " that he sees a future for bitcoin after previously being a " proud skeptic " of the cryptocurrency. "I'm a major believer that there's a role for bitcoin in portfolios," Fink said Monday, calling it "digital gold." The firm's iShares Bitcoin Trust (IBIT) has raked in more than $18 billion since its launch in January, making it the biggest bitcoin exchange-traded fund. Fink said political risk and rising government debt are some of the reasons for investors to own bitcoin. Fink said even outside of bitcoin, he sees rising public spending as one of the biggest issues facing the world.
Persons: Bitcoin, Larry Fink, CNBC's, Fink, I'm, bitcoin Organizations: BlackRock, bitcoin, Nasdaq Locations: lockstep, bitcoin
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