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And it is senior military leaders who served under him that have most clearly sounded the alarm about Trump. When he became president, Trump staffed his cabinet with senior generals. Despite Trump’s bromance with the military, senior retired generals and admirals haven’t loved him back. We found that five times more flag officers, 255, were critical of Trump, while 54 supported the Trump administration. Given his longstanding loyalty to Trump, Kellogg will likely return to some senior role if Trump wins in November.
Persons: Donald Trump’s, Mark Milley, Bob Woodward, , Woodward, Jim Mattis, Milley, Trump, ” Trump, George Patton, Douglas MacArthur, Mattis, John Kelly, Michael Flynn, Trump’s, haven’t, , Donald Trump, Kelly, CNN’s Jake Tapper, McMaster, , Gen, Stanley McChrystal, Osama bin Laden, Kamala Harris, ” Unstated, McChrystal, Bill McRaven, , Mike Mullen, George Floyd “, Keith Kellogg, Mike Pence, Kellogg, Benjamin Netanyahu, ” Kellogg, didn’t, wouldn’t Organizations: CNN, Trump, Joint Chiefs of Staff, Pentagon, McMaster, Trump White House, Operations Command, The New York Times, Washington Post, Joint Chiefs, Israeli, , Fox News Locations: , New York, Vietnam, Washington , DC, Washington, New America
Bitcoin that's lost either when an investor dies or is simply locked out of their wallet reduces available supply. Estate planning is crucial for bitcoin investors who store the coin on a cold wallet, experts say. Satoshi Nakamoto being deceased would potentially soothe a big fear that's loomed over the bitcoin market for years, which is that the person could sell their estimated 1 million bitcoin. If no one has your private key, the funds will be locked permanently," Wealthica CEO Eric Lemieux told Business Insider. Otherwise, more lost bitcoin could mean even higher prices for the crypto.
Persons: Bitcoin that's, , Donald Trump, Satoshi Nakamoto, Len Sassaman, Satoshi, Sean Farrell, Farrell, That's, bitcoin, Eric Lemieux, Lemieux Organizations: Service, HBO, Yorker Locations: American, Wales
Donald Trump's crypto project, World Liberty Financial, published a 13-page document on Thursday, describing its mission, how tokens can be allocated, and indicating that the Republican presidential nominee and his family could take home 75% of net revenue. The paper released on Thursday shows that Trump and his family assume no liability. Folkman previously had a company called Date Hotter Girls and reportedly helped develop crypto project Dough Finance. Folkman previously said just 20% of WLF's tokens would be allotted to the founding team, which includes the Trump family. The paper calls Trump the "chief crypto advocate."
Persons: Donald Trump, Donald Trump's, WLF, Trump, Kamala Harris, Chase Herro, Zachary Folkman, Folkman, Herro, Steve Witkoff, Zachary, Crypto Organizations: Liberty, Republican, Trump, who's, DEFI, Management, Finance, AMG, Fi Locations: Nashville , Tennessee, U.S, Delaware, Puerto Rico
U.S. election result remains a coin toss, economist says
  + stars: | 2024-10-16 | 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 EmailU.S. election result remains a coin toss, economist saysJohan Lof, senior macroeconomist at Handelsbanken, weighs in on the upcoming U.S. presidential election.
Persons: Johan Lof Locations: Handelsbanken
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump’s coin sale misses targets as crypto project’s website crashesCNBC's Mackenzie Sigalos joins 'Squawk Box' with the latest news on former President Trump's new crypto project.
Persons: CNBC's Mackenzie Sigalos, Trump's
World Liberty Financial — which bills itself as a crypto bank where customers will be encouraged to borrow, lend and invest in digital coins — began its token sale on Tuesday morning. On Monday, project co-founder Zachary Folkman bragged in a pre-launch stream on X that "well over 100,000 people" were whitelisted to invest. "However, these numbers are just, in my opinion, unheard of, and I think we're setting all sorts of new records in crypto." The platform says, so far, it has sold more than 788 million tokens at $0.015 per token. That is less than 4% of the 20 billion tokens made available for public sale and amounts to around $11.8 million, still well off the $300 million fundraising target.
Persons: It's, Donald Trump, Zachary Folkman, Folkman, WLF Organizations: Liberty, Trump
Part of the shift is demographic: Over the past few decades, the number of single women in America has skyrocketed. In 2023, there were 43 million single women living in the US, a 55% increase since 2000. Single women are older, more educated, and more financially independent than they were a generation earlier. In 2000, 48% of single women reported voting. And her support is growing: A recent Ipsos survey found Harris leading among single women voters by nearly 40 points.
Persons: Donald Trump, Sen, JD Vance, Jennifer Aniston, Taylor Swift, Kamala Harris, Lady, Swift, Benjamin Button, Meghan McCain, John McCain, he's, Joe Biden, Harris, Jesse Watters, Roe, Wade, Dobbs, Trump, , MeToo, Biden, Tim Walz, Jake Paul Organizations: Pew Research Center, Pew, Democratic, Fox News, Survey Center, Gallup, Social Survey, Biden, Alpha Kappa Alpha Sorority, Trump Locations: Ohio, America
Wells Fargo reiterates Citi as overweight The firm said Citi remains a number one pick following earnings on Tuesday. Citi reiterates JB Hunt as a top pick Citi said the shipping giant remains a top pick following earnings on Tuesday. Citi upgrades Cisco to buy from neutral Citi says AI will play a bigger role in Cisco's future than investors assume. Bank of America upgrades Corteva to buy from neutral The firm said the ag chemical company has numerous tailwinds ahead. Citi reiterates Coinbase as buy The firm lowered its price target on the stock to $275 per share from $345.
Persons: Fargo, Goldman Sachs, Wells, Baird, Grainger, Jefferies, Rapid7, GTM, JB Hunt, JBHT, it's bullish, Bernstein, Tesla, it's, GOOG, TD Cowen, Yum, Cowen, Taco Bell, Morgan Stanley, Piper Sandler, Walt Disney, Guggenheim, HSBC downgrades Estee Lauder, Estee Lauder, Coinbase Organizations: Citi, FAST, BMO, Microsoft, Netflix, Autodesk, Nvidia, Barclays, Apple, DoJ, UBS, California Resources, CRC, Chord Energy, Yum Brands, Taco, Taco Bell, Disney, Walt, Cisco, HSBC downgrades, HSBC, Bank of America, Qualcomm Locations: China, Greater China
Donald Trump's new crypto project is off to a rough start. But WLF's website suffered regular and lengthy outages for much of the morning and early afternoon, contributing to a limited number of sales. That's less than 3% of the 20 billion tokens made available for public sale. Over the course of the day, the website frequently showed a page saying, "We are under maintenance." The glitchy launch is a potential setback to the Republican presidential nominee with just three weeks until the election.
Persons: Donald Trump, Donald Trump's, Zachary Folkman, WLF didn't, Trump Organizations: White, Washington , D.C, Liberty, Etherscan, Republican Locations: Washington ,
I think a record number of Black and African American voters, Jewish voters, union voters. Asked for comment, the Harris campaign referred to a memo to reporters Sunday pushing back on the GOP suggestion that the vice president's support is eroding among key groups. Trump and Republicans hope to see a big turnout from their base, namely white, non-college-educated, working-class voters. Johnson and his affiliated super PAC, the Congressional Leadership Fund, have raised a combined $266 million for House Republicans this cycle. Democrats are heavily focused on Pennsylvania as well, with all three top House leaders and the Harris campaign making stops here in recent weeks.
Persons: Mike Johnson, ” Johnson, , I’m, , he'll, Donald Trump, Kamala Harris, Harris, Joe Biden, Biden, Johnson, Trump, “ I’m, it’s, we’re, It’s, Kevin McCarthy’s, McCarthy, Kevin, Helene, — Johnson, Ryan Mackenzie, Susan Wild, Rob Bresnahan, Matt Cartwright, Rob Mercuri, Chris Deluzio, Brian Fitzpatrick, Scott Perry, Lloyd Smucker, Pete Aguilar, ” Aguilar, they’ve Organizations: Steel, White, NBC News, African American, Jewish, Keystone State, , Telemundo, CNBC, Trump, New York Times, Sienna College, Black, GOP, CBS, International Association of Fire Fighters, Teamsters, Senate, Biden, Steel Club, Republicans, House Republican Conference, Congressional, Fund, House Republicans, LSU, Ole Miss, Democratic Rep, Democratic, Freedom, Lancaster County Republicans, Democrats, House Democratic Locations: Pa, , noshing, Hellertown, Nevada, Pennsylvania, Israel, Gaza, Las Vegas, California, New York, North Carolina, Allentown, America, El Tablazo, Dominican, South Florida, Texas, Arizona, Southern California, Allentown , Pennsylvania
World Liberty Financial is separate and apart from Trump Media & Technology Group , the parent company of social media platform Truth Social. Trump Media, known by ticker symbol DJT, started trading in March, after going public through a special purpose acquisition company (SPAC). On Tuesday, the former president and current Republican nominee aims to launch WLFI, the token accompanying his new crypto project called World Liberty Financial. Trump owns about 57% of DJT's outstanding shares, but his potential control over World Liberty Financial is more opaque. Folkman added that WLF would publish the "long-awaited" roadmap for the project on Tuesday, in tandem with the token sale.
Persons: It's, that's, they're, Trump, Donald Trump, Zachary Folkman, Donald J, Folkman, it's, WLF, Stani Kulechov, Kulechov, Monday's Organizations: Liberty, Trump Media & Technology Group, Trump Media, CNBC, Republican, Nasdaq, Truth Social, SEC, Trump, Finance, Liberty Financial, Permissionless Locations: New York City, U.S, DeFi, Salt Lake City , Utah
Mankato, Minnesota CNN —As a high school marching band played a rendition of Neil Diamond’s “Sweet Caroline,” Minnesota Gov. Tim Walz walked down the 50-yard line at Friday’s crosstown rivalry football game between Mankato East High School and Mankato West High School. After the coin toss, Walz took a seat on the bleachers, where he took selfies and signed autographs alongside his mother, Darlene Walz. The governor cheered throughout the game as Mankato West took an early lead, and although he departed at halftime, Mankato West held on to win 28-7. Before the game, Tim Walz stopped by Mankato West to greet players as they left for the stadium and speak to old colleagues.
Persons: Neil Diamond’s “, Caroline, , Tim Walz, Mankato West High School . Walz, Walz, selfies, Darlene Walz, Gwen, Harris, Kamala Harris, Coach Walz, he’d, , ” Walz, Michael Strahan, Donald Trump, Walz’s, Sarah Manes, ” Richelle Norton, Gov . Walz, Gwen Walz, I’m, ’ ” Norton, Sherri Blasing, ” Blasing Organizations: Minnesota CNN, ” Minnesota Gov, Mankato East High School, Mankato West High School, , Minnesota State University, Mankato’s, Mankato West, Minnesota Gov, Democratic, Mankato, National Guard, Beretta, CNN, NFL, Pew Research Center, WPVI News, Gov Locations: Mankato, Minnesota, ” Minnesota, Eye , Minnesota, Philadelphia, China
Fed rate cuts are likely to help push bitcoin and other risk assets higher, but some stablecoin issuers could suffer a hit to their revenue. Tether (USDT) and USD Coin (USDC) dominate the market, making up 70% and 21%, respectively, according to CryptoQuant. "As rates begin to fall, that has a giant impact on their [profit and loss] and their bottom line." Stablecoins – cryptocurrencies that promise a fixed value peg to another asset, usually the U.S. dollar – are widely seen as crypto's killer app. Jeremy Allaire, CEO of USDC issuer Circle, told CNBC lower interest rates are "a very good thing" for the company because lower interest rates will likely increase investment and economic activity – which would benefit the company.
Persons: Bernstein, Kevin Lehtiniitty, they're, Wainwright, Kevin Dede, Jeremy Allaire, Allaire Organizations: U.S ., CNBC
While "boring" bitcoin has been chopping sideways since March, bitcoin proxy MicroStrategy is trading at its highest level relative to the flagship crypto since 2019. Wolfe Research managing director Rob Ginsberg said he "loves [MicroStrategy's] chances to get out and continue climbing," but that the stock is overbought in the near term. "On a relative basis vs. BTC, the stock is at its highest level since 2019," Ginsberg added. Bitcoin is up 41% for the year, while MicroStrategy has gained 193%. MicroStrategy, which tends to be a high beta play on the cryptocurrency, is expected to follow.
Persons: Rob Ginsberg, MARA, MSTR, Ginsberg, Price, Wolfe, MicroStrategy, bitcoin, — CNBC's Michael Bloom Organizations: Wolfe Research, BTC Locations: pullbacks, MSTR, bitcoin
A new HBO documentary says that Canadian programmer Peter Todd is the creator of bitcoin. It points to several things to back the claim, but Todd denies he is the token's creator. The true identity of Satoshi Nakamoto, who wrote the bitcoin white paper, has been hotly debated. AdvertisementA new HBO documentary suggests the identity of bitcoin's inventor is a Canadian programmer named Peter Todd. "Money Electric: The Bitcoin Mystery," which premiered on HBO on Tuesday, names Todd as bitcoin's pseudonymous creator, Satoshi Nakamoto.
Persons: Peter Todd, Todd, Satoshi Nakamoto, , Len Sassaman, Nick Szabo, Adam Back, Cullen Hoback, Nakamoto, Nakamoto's, Hoback, I'm Satoshi, I'm Craig Wright, Satoshi, bettors Organizations: HBO, Service, Nakamoto, New York Times, Polymarket Locations: Canadian
With one of the most powerful hurricanes in a century barreling toward Florida on Tuesday, the Twin City mobile home park was already a scene of devastation because of Hurricane Helene. Twin City Mobile Home Park in Saint Petersburg, Fla., on Oct. 8, 2024. Jesse Hancock and Ria Blaight tried to salvage what they could Tuesday from their flooded home in Twin City mobile home park. Matt Lavietes / NBC NewsBut Pinellas Park, just north of St. Petersburg, is also in a mandatory evacuation area. I don’t care what kind of home.”Twin City Mobile Home Park in Saint Petersburg, Fla., on Tuesday.
Persons: Hurricane Helene, Milton, Matt Lavietes, Mark Prompakdee, Helene, , , ” Prompakdee, Jesse Hancock, Ria Blaight, Hancock, Blaight, ” Hancock, ” Blaight, “ It’s, ” Walter Smutz, Smutz, I’m, ” Smutz, Ninda Menegias, Ninda, Menegias, , Corky Siemaszko Organizations: — Homes, Twin, Twin City Mobile Home, NBC, ” Twin City Mobile Home, Management, NBC News, Lakeshore Management Locations: PETERSBURG, Fla, Florida, Twin City, Hurricane, Saint Petersburg, Pinellas Park, Park, St . Petersburg, ” Twin City, Skokie , Illinois, St . Petersburg , Florida, New York City
Historical bull market records indicate that stocks are more than likely to rally further from here, according to Carson Group. The current bull market turns two years old this week (S & P 500 bottomed on October 12, 2022). Data from Carson Group analyzing S & P 500 data showed that the existing bull market is still just the second youngest of the 12 since 1950. "Although many might think this bull market has gone too far and is getting old, that isn't the case at all. Komal Sri-Kumar, president of Sri-Kumar Global Strategies, believes that the bull market could have legs for another three to six months, maximum.
Persons: it's, Ryan Detrick, Kevin Gordon, Charles Schwab, Gordon, Komal, Kumar Organizations: Carson Group, CNBC, U.S, Sri, Kumar
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHurricane Helene's devastating impact on North Carolina: What you need to knowJulia Coin, courts and public safety reporter at The Charlotte Observer, joins CNBC's 'Squawk Box' to shares her experience being on the ground covering Hurricane Helene's devastating impact on North Carolina.
Persons: Julia Coin Organizations: Charlotte Observer Locations: North Carolina
The jump in bitcoin creator-themed tokens comes ahead of a new HBO documentary about bitcoin. Crypto watchers believe the film will reveal the true name of bitcoin's pseudonymous creator, Satoshi Nakamoto. Coins like LEN, SASHA, and ODIN reference Len Sassaman, an American programmer long suspected of being bitcoin's creator. SZABO, meanwhile, a coin referencing computer scientist Nick Szabo, is up 377%. AdvertisementIn recent days, participants have increasingly bet in favor of Nick Szabo, a computer scientist who published research on bitcoin's precursor "bit gold."
Persons: Satoshi Nakamoto, , LEN, SASHA, ODIN, Len Sassaman, SASHA —, SZABO, Nick Szabo, ADAM, Adam Back, Nakamoto, Satoshi Nakamotor, Sassaman, Meredith Patterson, Cullen, Szabo Organizations: HBO, Service, CoinMarketCap Locations: American, bettors
Circle-issued USD Coin (USDC) did not hit the market until 2018. "Coinbase and Circle have a revenue sharing agreement — they share 50% of USDC revenue," he said. "If the market cap for USDC goes up revenue for Coinbase will increase as well." The market cap for dollar-backed stablecoins has been hitting all-time-highs in recent weeks after a sharp drop in 2023. Tether makes up more than 70% of the market cap of U.S. dollar-backed stablecoins, according to CryptoQuant.
Persons: Owen Lau, Oppenheimer, Lau, stablecoins Organizations: European Union, CNBC, . Locations: Europe, Crypto
Costco sells a broad selection of gold and silver products, and now it's adding platinum to the mix. The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. AdvertisementCostco shoppers have been snapping up a broad selection of gold and silver products over the past year. Costco now offers platinum products online, including both bars and coins. Related storiesGoldCore's business is primarily in gold and silver, but Russell told BI that platinum makes up a "very small percentage" of what the company sells.
Persons: , Gary Millerchip, Edward Sterck, Sterck, bode, Mindy Schauer, David Russell, Russell Organizations: Costco, Service, Canadian Mint, Platinum Investment Council, Media, Getty, ICE Locations: Swiss, Orange
Costco is selling 1-ounce platinum bars online for $1,090. The move comes about a year after the retail giant started selling gold bars and silver coins. AdvertisementCostco is diversifying its precious-metals business by selling 1-ounce bars of platinum for $1,090. "I have purchased gold coin and bars, this is 1st I spotted the platinum bar on here. Advertisement"I've gotten a couple of calls that people have seen online that we've been selling gold — 1-ounce gold bars," Costco CFO Richard Galanti said in an earnings call last year.
Persons: , Lady Fortuna, Richard Galanti, Edward Kelly Organizations: Costco, Service, Business Locations: Wells Fargo
XRP was last lower by more than 9% at 52 cents a coin, according to Coin Metrics. Ripple, the largest holder of XRP coins, scored a partial victory last summer after a three-year battle with the SEC. U.S. District Judge Analisa Torres handed down the decision, which was hailed as a landmark win for the crypto industry. Still, while XRP isn't considered a security when sold to retail investors on exchanges, it is considered an unregistered security offering if sold to institutional investors. XRP, which was created by the founders of Ripple, is the native token of the open source XRP Ledger, which Ripple uses in its cross-border payments business.
Persons: XRP, Analisa Torres, XRP isn't, Brad Garlinghouse, Stuart Alderoty, Alderoty, Gary Gensler, Garlinghouse Organizations: Securities and Exchange Commission, SEC, U.S, District, Bitwise Asset Management Locations: Paris, France, Delaware
He criticizes the US for high debt and low growth, leading a fragile financial system. He highlighted the four categories of debt-based countries: those with low growth and high or low debt, and those with high growth and high or low debt. The US is in the category of low growth and high debt. However, if a country accumulates high debt, then continued growth is required to absorb it, he noted. At present, Taleb doesn't believe that the ballooning debt could be solved politically or by increased demand for US bonds.
Persons: Nassim Taleb, , Nassim Nicholas Taleb, Scott Patterson, Patterson, Taleb, It's, Brandon Yarckin, isn't, Mark Spitznagel Organizations: Service, Universa Investments, Bank Locations: Russia, US
Presidential hopeful Donald Trump has proposed getting rid of taxes on tips and overtime. AdvertisementIf former President Donald Trump gets his way, workers who collect overtime pay or tips could stop paying taxes on them. "Their employer can pay less to keep them but the worker is not worse off because now they don't have to pay taxes on that," Shierholz said. Or it could mean some salaried workers switch to hourly wages in order to qualify for a higher rate of untaxed overtime pay. Do you collect tips or overtime pay?
Persons: Donald Trump, Trump, , It's, Kamala Harris, that's, Harris, it's, Heidi Shierholz, Shierholz, Joe Hughes, Alex Muresianu, Muresianu, Hughes, Rube Goldberg, Karoline Leavitt Organizations: Service, Yale, Trump, Social Security, Taxation, Economic, Tax Foundation Locations: Arizona, America
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