The Dow scored a crucial rebound on Wednesday after US negotiators led by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin secured key concessions from China, which apparently brushed off President Trump’s brazen attacks. Dow Grinds Higher; Nasdaq, S&P 500 Mount Tepid Gains All three primary US stock market indices rose during the morning session, though gains were...
U.S. Treasury Secretary Steven Mnuchin slandered cryptocurrencies at a press conference earlier this month. Mnuchin attempted to smear the industry with associations to money laundering and funding terrorism. He said he has "serious concerns" that bitcoin could be misused "by money launderers and terrorist financiers." As if to underscore the part of the picture Mnuchin is leaving out, the very...
For better or worse, bitcoin is now on the global political stage. It was discussed in Congress. Donald Trump slammed bitcoin on Twitter. The Treasury Secretary called cryptocurrencies a national security threat, and the chairman of the Federal Reserve urged caution. Meanwhile, India just proposed an all-out ban on bitcoin while China scrambles to create its own cryptocurrency. What we’re seeing...
Treasury Secretary Steven Mnuchin concurred with the DOJ that anti-competitive practices at the big tech companies warrant an antitrust investigation -- an idea first proffered by Walmart. In an interview on CNBC, Steven Mnuchin said that while there have been many benefits to Amazon, the company has also destroyed the American retail industry, thereby limiting competition. What is the difference...
Bitcoin will never, ever become a part of US Treasury Secretary Steven Mnuchin's investment portfolio. The former hedge fund manager expressed his distrust of the cryptocurrency in a new interview clip released by CNBC, in which he assures the network that he won't be talking about bitcoin six years from now. He also pinky-sweared that he will "not be personally loaded up on bitcoin" - ever. "I...
The Dow suffered a massive setback on Wednesday after two of its bellwether stocks published grisly earnings reports that raised questions about the health of the market. Dow Stumbles After 177 Point Rally The US stock market stumbled at the opening, thrusting all three major indices toward moderate declines. The Dow Jones Industrial Average fell 122.02 points or 0.45%, taking a bite out of...
Following U.S. Treasury Secretary Steve Mnuchin's warning that the federal government will pursue "very, very strong" enforcement of existing cryptocurrency regulations, various federal agencies and self-regulatory organizations have started to take a step further in tightening oversight on the budding bitcoin industry. Regulators are starting to increase enforcement, will crypto sector improve...