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Melinda French Gates endorsed President Joe Biden on Thursday and Elon Musk isn't happy about it. "Might be the downfall of Western civilization," the mercurial billionaire said in response. AdvertisementMelinda French Gates has given her first-ever presidential endorsement, and Elon Musk isn't too happy about it. "Might be the downfall of western civilization," Musk said in response to an X post by The Babylon Bee staffer Ashley St. Clair on Gates' endorsement of Biden. Gates formally endorsed Biden in an X post published Thursday.
Persons: Melinda French Gates, Joe Biden, Elon Musk, Musk, MacKenzie Scott, , Elon Musk isn't, Ashley St, Gates, Biden, I've Organizations: Service, Babylon Locations: Clair
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In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.
Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas
This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.
Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, , Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, , Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood to buy crypto exchange Bitstamp for $200 million: 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, Matthew Sigel, head of digital assets research at VanEck, discusses the SEC's decision to approve a rule change paving the way for spot ether ETFs.
Persons: explainers, Matthew Sigel Organizations: CNBC Crypto, CNBC
Late Monday, Core Scientific announced a 12-year deal with cloud provider CoreWeave to provide infrastructure for use cases like machine learning. Core Scientific, which emerged from bankruptcy in January, has been mining a mix of digital assets since 2017. Butterfill said the the overlap is leading to a competition for rack space between bitcoin mining and AI activities. While AI operations require up to 20 times the capital expenditure of bitcoin mining, they're more profitable, according to a report from CoinShares. watch now"While we intend to remain one of the largest and most productive bitcoin miners, we expect to have a diversified business model and more predictable cash flows," Sullivan said.
Persons: Marble , North Carolina Carey McKelvey AUSTIN, CoreWeave, Adam Sullivan, Sullivan, OpenAI, James Butterfill, Butterfill, CoinShares, Asher Genoot, Genoot, bitcoin, Needham, They're, Core's Sullivan, there's, Sam Altman, Altman Organizations: Scientific, Core Scientific, Nvidia, CNBC, Iris Energy, CoreWeave, Miners, Electric Power Research Institute Locations: Marble , North Carolina, Marble , North Carolina Carey McKelvey AUSTIN , Texas, bitcoin, CoinShares, Canada, Sweden, capex, United States
As his son tapped home to clinch his first PGA Tour title at the RBC Canadian Open on Sunday, Dougie MacIntyre – the head greenskeeper at Glencruitten Golf Club in Oban, Scotland – simultaneously became a PGA Tour-winning caddie. Tears flowed freely for father and son as the duo soaked up the weight of the achievement on the 18th green. “I’m crying with joy, but I’m laughing because I didn’t think it was possible,” MacIntyre, a first-time PGA Tour victor on his 45th start, told CBS Sports. I’m a grasscutter not a caddie,” 59-year-old MacIntyre, wiping away tears, added to CBS Sports. In a video call with his mother shared by the PGA Tour on X, formerly known as Twitter, MacIntyre warned her of the level of revelry expected to follow.
Persons: Robert MacIntyre’s, Dougie MacIntyre –, Scotland –, MacIntyre, Martin Laird, ” MacIntyre, , , Frank Gunn, Scott Carmichael, Charles Schwab Challenge, , Bob …, Bob MacIntyre, , caddies, Dad, I’m, Nathan Denette, ” –, MacIntyre –, Mackenzie Hughes, MacIntyre – steadied, reassurances –, , that’s, Ben Griffin, Tom Kim, Rory McIlroy Organizations: CNN, RBC Canadian, Golf, Hamilton Golf, Country Club, PGA, CBS Sports, Canadian Press, Ryder, Team Europe, Hamilton Country Club, Twitter Locations: Oban, Scotland, Ontario, Scottish, Rome, America Orlando, Pinehurst, North Carolina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKraken's chief legal officer: SEC's suit against crypto exchange 'never should have been brought'Marco Santori, Kraken's chief legal officer, sat down with CNBC Crypto World, to explain why the crypto exchange is moving to dismiss the case against them and what's next as it relates to the SEC's lawsuit. He also weighed in on recent regulatory developments in crypto in the U.S. compared to other regions around the world.
Persons: Marco Santori, what's Organizations: CNBC Locations: U.S
Binance's ex-CEO begins prison sentence in California
  + stars: | 2024-05-31 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +1 min
Binance's billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California. CNBC reached out to Zhao's defense team at Latham & Watkins to confirm that the former crypto chief is now in custody. Zhao was sentenced to four months in prison in April after pleading guilty to charges of enabling money laundering at his crypto exchange. The sentence handed down to the former Binance chief was significantly less than the three years that federal prosecutors had been seeking for him. "I'm sorry," Zhao told U.S. District Judge Richard Jones before receiving his sentence, according to Reuters.
Persons: Changpeng Zhao, Watkins, Zhao, Richard Jones, Organizations: CNBC, Latham, U.S, District, Reuters Locations: Lompoc , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRipple CEO: Crypto industry in the U.S. dealing with 'hostile regulatory environment'Ripple CEO Brad Garlinghouse sat down with CNBC Crypto World at Consensus 2024 to discuss crypto regulation. He also explains what prompted the blockchain firm to contribute another $25 million to the pro-crypto super PAC Fairshake.
Persons: Brad Garlinghouse Organizations: CNBC Locations: U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpot bitcoin ETF approval 'huge game changer' for the industry: Bitwise CCOKatherine Dowling, general counsel & chief compliance officer at Bitwise Asset Management, discusses crypto ETFs and recent progress on digital asset legislation from Consensus 2024.
Persons: Bitwise CCO Katherine Dowling Organizations: Bitwise Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther soars 27% in May after SEC clears path for spot ether ETFs: 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, Ripple CEO Brad Garlinghouse and Kraken's Chief Legal Officer Marco Santori discuss crypto regulation from Consensus 2024.
Persons: explainers, Brad Garlinghouse, Marco Santori Organizations: SEC, CNBC Crypto, CNBC
Bitcoin miners are shifting to AI
  + stars: | 2024-05-31 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin miners are shifting to AICNBC’s Mackenzie Sigalos joins 'Power Lunch' to discuss bitcoin miners getting into AI.
Persons: CNBC’s Mackenzie Sigalos
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYSE's Lynn Martin discusses collaboration with CoinDesk Indices to help track spot bitcoin pricesLynn Martin, president of NYSE Group, sat down with CNBC Crypto World from Consensus 2024 to explain a new collaboration with CoinDesk Indices to launch financial products tracking spot bitcoin prices.
Persons: NYSE's Lynn Martin, Lynn Martin Organizations: CoinDesk, NYSE Group, CNBC
Jessup, Maryland CNN —In her first week of job training, Tiffany Joseph Busch learned how to do an oil change. Instead, she learned in a virtual garage, using a Meta Quest virtual reality headset. In addition to MCIW, the nonprofit is also piloting the VR auto technician training program in correctional facilities in Texas and Virginia. Mackenzie Happe/CNNBut is it really possible to learn how to fix a car in virtual reality without ever interacting with a real vehicle? Carpenter said she feels “100% confident in my abilities.”And Schwartz said he’s certain about the potential for VR training, too.
Persons: Maryland CNN —, Tiffany Joseph Busch, , Busch, , ” Busch, it’s, MCIW, they’re, Martin Schwartz, Schwartz, Carolyn Scruggs, Maryland’s, Tiffany Busch, Mackenzie Happe, Danielle Cox, ” Cox, Tire, Meagan Carpenter, ” Meagan Carpenter, Carpenter, they’ve, … We’re Organizations: Maryland CNN, Busch, Maryland Correctional Institution, Women, CNN, Vehicles, CNN Auto, Napa Auto Parts, AAA, HTX Labs, US Air Force, VR, Women’s Correctional Institute, Department of Labor, Maryland Department of Public Safety, Correctional Services, MCIW, Automotive, Women's VR Locations: Jessup, Maryland, Baltimore, United States, Napa, Texas, Virginia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin drops to $67,000 level, and Gemini returns more than $2 billion to users: 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, James Davies, co-founder of Crypto Valley Exchange, explains why crypto winter was the right time to start his exchange and discusses what he's hearing from attendees at Consensus 2024.
Persons: Gemini, explainers, James Davies Organizations: CNBC Crypto, CNBC, Crypto
But this is the global system we do have and, within it, some billionaires are behaving much more generously and ethically than others. Melinda French Gates is one of the good ones. French Gates has long been an advocate for family planning and women’s rights abroad, and now she’s dedicating $1 billion through 2026 to those issues. Female billionaires, in other words, are far more likely than male ones to give away substantial portions of their wealth. So yes, we can applaud the good billionaires who give their wealth away, even if we think that they are representative of a bigger inequality problem.
Persons: Jill Filipovic, , Melinda French Gates, French Gates, it’s, She’s, Gates, MacKenzie Scott, Jeff Bezos, Scott, Forbes, Elon Musk, Larry Ellison, Warren Buffett, Larry Page, Ellison, Page, Buffett, Donald Trump’s, Sam Altman, Bill Gates, Scarlett Johansson, that’s, George Soros, doesn’t Organizations: Twitter, CNN, Gates Foundation, The New York Times, Forbes ’, Forbes, Elon, Facebook Locations: New York, United States, French, The, New Zealand, There’s
And it’s a style that Melinda French Gates appears to be emulating, at least partly, in her newly solo philanthropic venture. Now independent of that organization, French Gates is free to take bets on organizations and communities regardless of their size or ability to demonstrate their impact. Scott and French Gates’ ex husbands, meanwhile, aren’t getting as many kudos for their charitable work as they might like. Gates, with a net worth of $154 billion, has also faced criticism for the Gates Foundation’s methods. “That can’t happen through the Gates Foundation’s father-knows-best, look-at-me brand of bureaucratic philanthropy.”
Persons: CNN Business ’, New York CNN —, Ivana Trump, Don’t, MacKenzie Scott, Jeff Bezos, Melinda French Gates, Gates, Bill Gates, “ I’m, Scott, it’s, ” Amir Pasic, Indiana University Lilly, ” That’s, ” Pasic, , Gates ’, aren’t, Bezos, hadn’t, Tim Schwab, Organizations: CNN Business, New York CNN, Club, New York Times, Indiana University, Indiana University Lilly Family School of Philanthropy, Women’s, Gates, CNN, Bloomberg Locations: New York, Maui, Bezos, Gates, Nation
Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in prison, followed by three years of supervised release. In September, Salame pleaded guilty to conspiracy to make unlawful political contributions, defraud the Federal Election Commission, and conspiracy to operate an unlicensed money-transmitting business. Judge Lewis Kaplan sentenced Sam Bankman-Fried to 25 years in prison in March. Salame spent millions of dollars on real estate and campaign donations during his tenure. Meanwhile, data from the Federal Election Commission shows that Salame gave more than $24 million to Republican candidates and causes in the 2022 election cycle.
Persons: Ryan Salame, Sam Bankman, Salame, Judge Lewis Kaplan Organizations: FTX Digital Markets, Commission, Alameda Research, FTX's, FTX, New Providence, Federal, Republican Locations: New York, Bankman, New, U.S
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Against this backdrop, Mary Ellen Iskenderian of Women's World Banking decided to jump in to help. Women's World Banking has focused much of its research on Ukrainian refugees, in particular, since they have overwhelmingly been women and their dependents, given the country's conscription requirements. "There's a tremendous opportunity with blockchain, finance, and digital ID," Iskenderian said. The World Bank estimates that 850 million people globally don't have proof of legal identity — that is, no birth certificate, passport, driver's license, or national ID. World Bank survey data has found that in low-income countries, 44% of women do not have an ID, versus 28% of men.
Persons: Mary Ellen Iskenderian, We've, Iskenderian Organizations: Banking, Bank, CNBC Locations: Ukraine, Ukrainian, masse
French Gates said she will donate $1 billion through 2026 to advance women’s rights around the world through her organization, Pivotal Ventures. French Gates will also give $250 million in awards to organizations working to help improve women’s mental and physical health. “I’m also experimenting with novel tactics to bring a wider range of perspectives into philanthropy,” French Gates wrote in her op-ed. In her op-ed, French Gates said she was once told to set her own agenda before someone else sets it — and that’s why she chose to leave the Gates Foundation. Just 2% of donations in the United States go to organizations focused on women and girls, French Gates noted.
Persons: Melinda French Gates, Dobbs, Gates, Melinda Gates, MacKenzie Scott, French Gates, Scott, “ I’m, Jacinda Ardern, Allyson Felix, Shabana Basij, Organizations: New, New York CNN, New York Times, Melinda Gates Foundation, Gates Foundation, New Zealand Locations: New York, United States
Read previewThe loss of a B-2 Spirit bomber due to fire and its subsequent retirement highlights the fragility of the US Air Force's bomber fleet. A US Air Force airman poses in front of a B-2 Spirit at Whiteman Air Force Base Missouri. Pictures From History/Universal Images Group via Getty ImagesThe B-21 Raider bomber is criticalThere is a silver lining to America's bomber fleet decline in the B-21 Raider. US Air Force photoWashington must recognize the strategic failure of a small and antiquated bomber fleet. Facilitating the on-time deployment of the next generation bomber cannot come too soon in order to restore the size and strength of America's bomber fleet.
Persons: , Sheila deVera, Sadie Colbert, Austin McIntosh, America's Organizations: Service, US Air Force's, Raider, Business, Joint Base Elmendorf, Richardson , Alaska . US Air Force, Pentagon, Air Force's, US Air Force, Whiteman Air Force Base Missouri, Staff, Air Force, Air, Ship Missiles, Ellsworth Air Force Base, Senior, US Air Force Boeing, Getty, White, Congress Locations: Richardson , Alaska, United States, South Dakota, Vietnam, Palmdale , California
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