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Coinbase's big election bet is about to be tested
  + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +9 min
BlackRock's ETF chief Samara Cohen told CNBC that 75% of its bitcoin buyers are crypto investors who are new to Wall Street. Grewal told CNBC that he's had "many conversations" behind closed doors with both the Trump camp as well as Democratic Vice President Kamala Harris' campaign. Fairshake, one of the top spending PACs this cycle, told CNBC it's raised around $170 million this election and disbursed approximately $135 million. Ripple's head of U.S. public policy, Lauren Belive, told CNBC at a fintech conference in Las Vegas that the company was motivated by the SEC's overreach. WATCH: Bitcoin slumps to $67,000 level on eve of U.S. election: CNBC Crypto World
Persons: WASHINGTON —, Brian Armstrong shied, Armstrong, Coinbase, Gary Gensler, vociferously, Samara Cohen, Wells, Paul Grewal, Donald Trump, David Sacks, Grewal, Trump, he's, Gensler, Kamala Harris, Harris, Sen, Sherrod Brown, Bernie Moreno, Brown, Moreno, battlegrounds, It's, Shirzad, CNBC it's, Lauren, Alice, merch, Joe Lubin, Wiley Nickel Organizations: WASHINGTON, Capitol, CNBC, SEC, Washington, Trump, Republican, Democratic, Crypto Alliance, House, Ohio Senate, Crypto, Labs Locations: Washington ,, Washington, United States, San Francisco, Nashville, Ohio, Las Vegas
In today’s edition, political reporter Allan Smith and senior White House reporter Peter Nicholas empty their notebooks after spending the last two weeks on the ground in battleground Pennsylvania. And over the final two weeks of the race, both candidates and their running mates held 16 events in Pennsylvania — including Monday, marking some of Harris and Trump’s final rallies of the campaign. And 5% of Republican voters hold a positive view of Harris, while 92% hold a negative view (-87 net rating.) : Regardless of who wins the election, a key fixture of America’s political landscape for nearly a decade is set to disappear: the Trump campaign rally. Read more → Follow live updates from the campaign trail →That’s all from the Politics Desk for now.
Persons: Allan Smith, Peter Nicholas, Mark Murray, Peter Nicholas PITTSBURGH, It’s, Donald Trump, Kamala Harris, Trump, Harris, Jennifer Mann, Philipsburg, , ” Read, Allan, Peter → 🗺️, orth, arolina,, ake, ender, ault, ines, hite, lear, alf, Tod, Reg, Rob, Bowman Organizations: NBC, White House, Capitol, It’s, NBC News, Trump, State College, ust, ics Locations: Pennsylvania, oters, Poli
CNN —Incendiary devices that ignited in Germany and the United Kingdom in July were part of a covert Russian operation that aimed to start fires aboard cargo and passenger flights heading to the US and Canada, the Wall Street Journal (WSJ) reported Monday, citing Western security officials. In July, device explosions at DHL logistics hubs in Leipzig, Germany, and Birmingham, UK, kickstarted a race to find the suspects, WSJ reported. When the WSJ asked Russia for comment about the suspected Russian plot, Kremlin spokesperson Dmitry Peskov denied the allegations. “We have never heard any official accusations” of Russian involvement, adding: “These are traditional unsubstantiated insinuations from the media.”” He said according to WSJ. It was dealt with by staff and the local fire brigade at the time and there were no reports of any injuries or significant damage caused,” the spokesperson said.
Persons: Dmitry Peskov, , Organizations: CNN, Wall Street, DHL, DHL Express, European Union, ” CNN, NATO Locations: Germany, United Kingdom, Canada, Leipzig, Birmingham, Lithuania, North America, Russia, United States, America, Europe, Ukraine
CNBC's Jim Cramer reviewed Monday's market action, saying the session's moves reflect investors who feel Vice President Kamala Harris could win the presidency, even as the race remains deadlocked in the polls on the eve of Election Day. "I'm not sure the market's right about what a Harris presidency would mean for business, but at least now we have a blueprint for what Wall Street thinks it'll mean," he said. Traders, Cramer said, are looking to get ahead of election results, and they're looking for signs that someone knows something that others don't. The poll showed Harris leading Trump 47% to 44%, and Cramer said it has led investors to question whether other red states could turn blue. "I like the idea that you can now get a jump on what traders think," he said.
Persons: CNBC's Jim Cramer, Kamala Harris, I'm, Harris, Cramer, Donald Trump, Lina Khan Organizations: Traders, Trump, Toll, Companies, Constellation Brands, Biden, Federal Trade Locations: Iowa, Lennar
In today's big story, a final look at the impact a Harris or Trump presidency will have on your finances . The big storyThe White House and your walletGetty Images; Jenny Chang-Rodriguez/BIOn the eve of election day, we're offering a final breakdown of how both candidates might affect your wallet. Let's get into it:Investing : The corporate tax rate is the major difference between the two sides that'll likely have the biggest impact on markets. Harris wants to raise the corporate tax rate, which would likely have the opposite effect. Cost of things : Both candidates are looking to keep leveraging tariffs, but Trump's policy is much more aggressive.
Persons: , Harris, Trump, let's, Jenny Chang, Rodriguez, Kamala Harris, Donald Trump, Let's, she's, Mario Tama, Peacock, Chip Somodevilla, Dow, BI's Emma Cosgrove, Siri, We've, Montana Sen, Jon Tester, Colin Allred, Carl Godfrey, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, BI, . Tech, Nvidia, Intel, Dow Jones, Trump, Mario, Fed, Street, CNBC, MSNBC, NBC, Apple Intelligence, WWDC, Apple, Democratic, Texas Rep, Fox Corp, Goodyear, Marriott Locations: Trump, New York, London
Here's how Bank of America suggests trading a variety of Election Day outcomes. Split Republican control A Trump White House with a largely Democratic Congress is overall neutral for equities, Kwon said. Split Democratic control The status quo would be maintained with a Harris White House and a Republican Congress, Kwon said. Over the past seven election cycles, the two-week price direction for stocks was identical to one day after election day every single time. Outside of the election, Kwon said that the Fed could have ample reason to cut further.
Persons: Ohsung Kwon, Kwon, Donald Trump, Trump, Kamala Harris, Harris Organizations: Bank of America, Trump, Republican, Trump White House, Democratic, Harris White, Federal
That’s all it is,” Trump said, as he vowed to launch a massive deportation effort. Trump was closing his third presidential campaign Monday with the same anti-immigration rhetoric that he used to launch his first White House bid. “Four years of Kamala have delivered nothing but economic hell for the American workers,” Trump said. It was a long discussion that is contrary to previous messaging from Trump and his campaign, which has encouraged people to vote early. One way, there’s only one way.”He added, “We have to win the old fashioned way and then fix it.
Persons: Donald Trump, , Kamala Harris, Trump, ” Trump, Megyn Kelly, Kelly, Kamala, , They’ll, Roberto Clemente, Harris, Joe Biden Organizations: CNN, Trump, Republican, Pittsburgh Pirates, Sun Locations: United States, Pennsylvania, Colorado, Springfield , Ohio, Mexico, China, Pittsburgh, North Carolina, Michigan, Puerto Rican, Keystone, Michigan , Pennsylvania, Wisconsin, Arizona, Georgia, Nevada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin slumps to $67,000 level on eve of U.S. election: 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, JP Richardson of Exodus discusses crypto interest groups and their final push to back pro-crypto candidates in U.S. congressional races.
Persons: explainers, JP Richardson, Exodus Organizations: CNBC Crypto, CNBC
CNN —Her message has been consistent, but Kamala Harris has in the closing days of the presidential race dropped two notable words from her stump speech: Donald Trump. “We have an opportunity in this election to finally turn the page on a decade of politics driven by fear and division. We’re exhausted with it.”That promise has been threaded through her campaign, usually implied but increasingly delivered in explicit terms. “It can be easy to forget a simple truth,” Harris said in Washington. It is a fight for something,” Harris said.
Persons: Kamala Harris, Donald Trump, Trump, Harris, “ Donald Trump ”, ” Harris, “ We’re, , Joe Biden’s, Organizations: CNN, Carrie, US Steel Locations: Pittsburgh, Chicago, Washington ,, Washington, America, Philadelphia
Uncertainty is the key theme for markets on the eve of Election Day, but fixed income investors say there are a few opportunities to snap up solid yield even as the market holds its breath. "We are constructive on fixed income as a whole, despite these uncertainties, and we're stressing to investors that yields are really quite attractive – and the income generation we can get from fixed income right now is quite powerful," Persson added. On the municipal bond side, offerings include the iShares National Muni Bond ETF (MUB) , which has a 30-day SEC yield of 3.35%. Vanguard also has its Tax-Exempt Bond ETF (VTEB) , with a 30-day SEC yield of 3.4%. The iShares MBS ETF (MBB) has a 30-day SEC yield of 4.01% and a net expense ratio of 0.04%.
Persons: Kamala Harris, Donald Trump, Andrew Szczurowski, Eaton, Anders Persson, Persson, Fannie Mae, Freddie Mac, Baird Organizations: NBC News, Income, Morgan Stanley Investment Management, Federal, Treasury, Muni Bond ETF, SEC, Vanguard, Bond, SPDR, MBS, Fidelity Intermediate Bond Fund, Bond Fund Locations: Washington, Nuveen
CNN —Popular podcast host Joe Rogan officially endorsed Donald Trump on the eve of the election, a move Trump’s team swiftly touted as a major win in the final hours of their campaign. Rogan on Monday released his latest podcast featuring a two-and-a-half-hour interview with billionaire X owner and top Trump surrogate Elon Musk. Trump, who was onstage in Pittsburgh, Pennsylvania, for his penultimate rally when Rogan made the endorsement, swiftly touted the development. “It just came over the wires that Joe Rogan just endorsed me, is that great. I really hope we can make it happen.”The Harris campaign declined to comment on Rogan’s post.
Persons: Joe Rogan, Donald Trump, Rogan, Elon Musk, , Trump, Joe, ” Trump, Kamala Harris ’, , Harris, ” Rogan Organizations: CNN, Trump Locations: Pittsburgh , Pennsylvania, Austin
CNN —The tumultuous 2024 election is ending with a contrast that encapsulates America’s fateful choice on election eve. The vice president also proposes reforms to improve the lives of working Americans — but hers are less revolutionary than Trump’s. If she loses Pennsylvania, Harris would need a combination of other swing states, including Georgia, Nevada and Arizona, where poll averages also show no clear leader. But the findings, which suggested a shift toward Harris from the previous Iowa Poll in September, also showed the vice president with a strong advantage among women. If such a pattern is repeated nationwide, the vice president could be headed to victory if she can limit her deficit to Trump among White males especially.
Persons: Donald Trump, Kamala Harris, Harris, He’ll, Lady Gaga, Oprah Winfrey, Trump, shouldn’t, , , Joe Biden’s, Roe, Wade, Biden, He’s, She’s, , ” David Plouffe, Mediacom, “ We’ve, we’ve Organizations: CNN, Trump, , Michigan, White House, , Republican, Democratic Party, Trump -, Democratic, Capitol, Justice Department, GOP, Republican Party, CNN’s, Keystone State, Pennsylvania —, Democrats, Des Moines Register, Poll, Iowa, New York Times, Siena College Locations: America, North Carolina, Pennsylvania, Michigan, Philadelphia, Detroit, battlegrounds, Michigan , Wisconsin, Georgia, North Carolina , Nevada, Arizona, , Washington, autocrats, Russia, China, Keystone, Nevada, Siena
CNBC Daily Open: Eve of Election Day
  + stars: | 2024-11-04 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
Voters cast their votes during early voting in the U.S. presidential election at a polling station in Detroit, Michigan, U.S. November 3, 2024. 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. Asia markets climb ahead of China's parliament meetingU.S. stocks rallied Friday to kick off November, as traders shrugged off a disappointing jobs report. Asia-Pacific markets rose Monday as investors watch the U.S. election, the Federal Reserve's monetary policy meeting and China's monetary policy meeting starting Monday.
Persons: Dow Jones, shrugged, Harris, Ting Lu, Kamala Harris, Donald Trump Organizations: U.S, CNBC, U.S . Bureau of Labor Statistics, Boeing, Dow Jones Industrial, Nasdaq, Federal, National People's, Trump, Nomura, Democratic, Des Moines Register, Iowa Locations: Detroit , Michigan, U.S, Asia, Pacific, China, Beijing, Iowa Iowa, Iowa
Boeing workers vote to accept deal, end strike
  + stars: | 2024-11-04 | by ( Chris Isidore | ) edition.cnn.com   time to read: +7 min
New York CNN —Striking workers at embattled plane maker Boeing voted Monday to accept the company’s most recent offer, ending the costliest strike in the United States in more than 25 years. The International Association of Machinists (IAM) said rank-and-file members voted by 59% to approve the deal. But the deal did not restore the traditional pension plan they lost in 2014 from their previous labor deal. But despite the deep financial problems, Boeing had little choice but to settle the strike and get the workers back on the job. Boeing’s economic impactDespite its problems, Boeing is still a major contributor to the US economy, as it is the largest American exporter.
Persons: Boeing’s, “ I’m, , Jon Holden, , Holden, Kelly Ortberg, Workers ’, It’s, ” Holden, We’ll, they’ve, Ortberg Organizations: New, New York CNN —, Boeing, International Association of Machinists, IAM, ” Boeing, Workers, ” Companies, Research, Anderson Economic Group, Labor, Alaska Airlines Locations: New York, United States, Michigan
Former President Donald Trump's universal tariff proposals could cause prices to skyrocket on clothing, toys, furniture, household appliances, footwear and travel goods, according to a new report from the National Retail Federation. Trump has said he would impose a 10% or 20% tariff on all imports across the board. In both cases, the NRF found that the impact of Trump's tariffs would be "dramatic" double-digit percentage price spikes in nearly all six retail categories that the trade group examined. The report found that the greatest price spikes could occur for toys: between 36.3% and 55.8%. The report found that the more expensive retail goods would lead to a $46 billion decrease in purchasing power, if Trump imposes both universal tariffs and especially high China rates.
Persons: Donald Trump's, Trump, Mark Zandi Organizations: Abercrombie, Fitch, National Retail Federation, Republican, Bureau of Labor Statistics, CNBC Locations: Manhattan, New York City, China, Mexico, Raleigh , North Carolina
CNN —At least 25 people, including several children, died after their boat was “deliberately capsized by traffickers” near the Comoros Islands, the local office of the International Organization for Migration (IOM) said Monday. “IOM Comoros is saddened to hear about the deaths of at least 25 people after their boat was deliberately capsized by traffickers off Comoros Islands, between Anjouan and Mayotte on Friday night,” the UN body said in a press release. The boat was carrying around 30 people from different countries including seven women and four children, IOM said citing five survivors who were rescued by fishermen Saturday morning. “Thousands of people have died on this migration route in an attempt to reach the disputed island of Mayotte, (an) island of the archipelago of Comoros and a French département since 2011,” said IOM. The agency emphasized “the importance of establishing safe and legal pathways for migration” to prevent such tragedies.
Persons: , , Organizations: CNN, International Organization for Migration, “ IOM Locations: Comoros, , “ IOM Comoros, Anjouan, Mayotte, , French
Kamala Harris appeared on "Saturday Night Live" for a cameo ahead of the US election. The vice president appeared alongside actor Maya Rudolph in the show's cold open. "You can do something your opponent cannot do: you can open doors," Harris joked about Trump. Harris' cameo came after James Austin Johnson's spoof of a "four-and-a-half-hour" long Donald Trump rally speech. AdvertisementA representative for the Harris campaign did not respond to a request for comment from Business Insider, which was sent outside regular working hours.
Persons: Kamala Harris, Maya Rudolph, Harris, , CNN's, Kaitlan Collins, James Austin Johnson's, Donald Trump, Rudolph, who's, Rosalind O'Connor, Barack Obama, Hillary Clinton, Bernie Sanders, Trump, Lorne Michaels, Michaels Organizations: Trump, Service, Rockefeller, NBC, Getty, Nation, Saturday, Hollywood, Business Locations: New York City, North Carolina, South, Wisconsin, Pennsylvania
Chloë Grace Moretz opened up about her sexuality as she endorsed Kamala Harris. "I believe in the need for legal protections that protects the LGBTQ+ community as a gay woman," Moretz said. AdvertisementChloë Grace Moretz opened up about her sexuality in an Instagram post in which she endorsed Kamala Harris ahead of Tuesday's presidential election. "I voted early and I voted for Kamala Harris. "We need protections in this country and to have access to the care we need and deserve."
Persons: Chloë Grace Moretz, Kamala Harris, Moretz, Harris, , Grace Moretz, Carrie, Kate Harrison, Brooklyn Beckham, Victoria Beckham, David Beckham, Tim Walz, Matthew Hatcher Organizations: Service, Democratic, Getty, Minnesota Gov Locations: San Francisco, California
The clock is ticking on the New York Times’ iconic election needle. The New York Times Tech Guild announced that its members will go on strike on the eve of one of the most critical elections in the nation’s history if an agreement isn’t reached on a contract as soon as possible. The NYT Tech Guild comprises about 700 tech workers, including software engineers, designers, product managers and data analysts who build the newspaper’s most profitable products — like its website, podcasts and games. The New York Times has not responded to a request for comment. Much of the New York Times’ homepage on election night is dominated by graphics and other visual components, including the famous Needle, a data visualization that resembles a car’s speedometer.
Persons: isn’t, , Kamala Harris, Donald Trump Organizations: New York Times, New York Times Tech Guild, NYT Tech, Times, The New York Times
Airbnb is running a competition for families to win a free stay in a house in Primrose Hill, London. Locals told Business Insider they're tired of tourists flocking to the street. AdvertisementAirbnb's plan to host a competition for an overnight stay on a picturesque street featured in the "Paddington" movies has seemingly not gone down well with local residents. AdvertisementIn a press release for the competition, Airbnb said bookings for the property would open on November 3. ReutersIt's not the first time Airbnb has created immersive stay experiences based on popular movies and television shows.
Persons: they're, , Barbie Dreamhouse, I'm, Eve Crosbie, Airbnb, Reuters It's, Ted Lasso Organizations: Locals, Service, Gardens, Paddington, Browns, Business, Camden New Journal, Community Association, Windsor Gardens, British Film Institute, Reuters, Apple Locations: Primrose Hill, London, Primrose, Paddington Bear, Peru, Malibu, Chalcot, Windsor, Richmond , London
Former President Donald Trump and Vice President Kamala Harris campaigned around southwestern states this week as they sought to shore up the Latino vote with only five days until Election Day. Latino voters account for %14.7 of all eligible voters in the upcoming election, according to Pew Research Center. New Mexico, where Trump campaigned on Thursday, has the highest share of Latino voters with around 45% the population. The states with the next largest share of Latino voters include California, Texas, Arizona and Nevada. Although Democrats tend to have a historical advantage among Latino voters, that advantage has declined over the past four presidential cycles, according to a national NBC News/Telemundo/CNBC poll from September, especially as Trump makes strides with Latino men.
Persons: Donald Trump, Kamala Harris, Trump, Harris, Joe Biden, Hillary Clinton, Tony Hinchcliffe, Hinchcliffe Organizations: Pew Research Center, NBC News, Telemundo, CNBC, Trump Locations: New Mexico, California , Texas, Arizona, Nevada, While California, Texas, Albuquerque , New Mexico, America, Trump's, Puerto Rico
Together, Pennsylvania’s mail ballot rules have generated an entire vocabulary for rejected mail ballots — ballots that are unsigned, undated or misdated, or even “naked,” if they are not clothed in a secrecy envelope. The latest update from Oct. 31 — after the general statewide deadline to request a mail ballot — shows there were 2,193,578 mail ballot applications ever approved. Combined with the deficient returned ballots that we already know about referenced above, that comes to about 8,000 deficient mail ballots that have been returned to date. Although this general election will likely see more mail ballots returned than the previous midterm, the trend so far suggests we might have fewer mail ballots rejected. Moreover, the experience in 2022 suggests there will also be thousands of provisional ballots cast by voters who return deficient mail ballots.
Persons: Organizations: U.S, Supreme, NBC, Philadelphia Board, Democratic, Senate Locations: Pennsylvania
WASHINGTON — The Supreme Court on Wednesday allowed Republican officials in Virginia to revive a plan aimed at removing noncitizen voters from the rolls ahead of next week’s election. Virginia has same-day voter registration, meaning that any eligible voter who was removed from the rolls should still be able to vote. The Justice Department said that while states can review its voter rolls, it cannot do so right before an election. States are barred from systematically removing people from voters rolls within 90 days of an election under the National Voter Registration Act. In court papers, the groups said that "the record makes clear that citizens are being removed from the voter rolls."
Persons: WASHINGTON —, commonsense, Glenn Youngkin, Biden, Ryan Snow, Virginia, Patricia Giles, Donald Trump, Trump, Kris Kobach Organizations: Republican, Justice Department, Department of Motor Vehicles, Virginia Coalition for Immigrant Rights, Lawyers, Committee, Civil Locations: Virginia, U.S, Kansas
For every team faced with an early demise in the World Series, that’s the vision: one more day of summer to play with your friends. “We lost Game 3 and we said, ‘Hey, who doesn’t want to make history?’ I know I love making history. Eight years ago with the Chicago Cubs, Rizzo played another Game 5 on Halloween eve, needing a win to extend the World Series. Three of them were new to this World Series and covered seven innings. He lived the fantasy of every New York-born kid of his generation: a shortstop in pinstripes, starring in the World Series.
Persons: You’ll, Anthony Rizzo, , Rizzo, , they’d, , we’re, Jazz Chisholm, ‘ Hey, Jack Flaherty, They’ve, they’ll, ” Rizzo, Jon Lester, Aroldis Chapman, Gerrit Cole, Luke Weaver, Weaver, Gleyber Torres ’, Alex Verdugo, Brent Honeywell Jr, Anthony Volpe, didn’t, ” Aaron Judge, Verdugo, ” Verdugo hasn’t, Reggie Jackson, Freddie Freeman, ” Weaver, “ You’re, you’ve, Daniel Hudson, Volpe’s, Austin Wells, Volpe, ” Volpe, they’re, ” Chisholm, Gleyber Torres, Elsa, Getty Organizations: New York Yankees, Los Angeles Dodgers, Dodgers, Yankees, Chicago Cubs, Cubs, San Diego Padres Locations: Cleveland, New York, pinstripes
In each case, the state has a ballot question about abortion rights. The group previously donated seven figures separately in Arizona, Florida and Nevada, which all are attempting to codify abortion rights in their states. Think Big would not provide more specifics about donation amounts; a recent filing in South Dakota revealed last week it gave $500,000. Pritzker is on the road in battleground states campaigning for Vice President Kamala Harris, as well as advocating to codify abortion rights in Arizona, Nevada, Wisconsin and other states. Think Big has provided financial investment to the abortion-rights referendum efforts, as well as communications, political and research support.
Persons: JB Pritzker, , Pritzker, Kamala Harris, JB, Tom Williams, “ We’ve, , Mike Ollen, We’re, ” Pritzker, Harris, Tim Walz, , he’s, ” Ollen, we’re Organizations: CHICAGO, Illinois Gov, NBC News, Inc, Getty, Minnesota Gov, Democratic, Chicago, Democratic National Locations: Maryland, South Dakota , Nebraska, Missouri, Arizona , Florida, Nevada, Montana, South Dakota, Arizona , Nevada , Wisconsin, Nebraska, Illinois
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