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  • Apr 22, 2025

Cantor nears $3 billion crypto venture with SoftBank and Tether, FT reports

The vehicle, Cantor Equity Partners, will use the cash to create a new firm, called 21 Capital. Tether would contribute $1.5 billion of bitcoin, while SoftBank and Bitfinex would contribute $900 million and $600 million, respectively, of the digital currency, according to the report. Howard Lutnick, the billionaire who was the CEO of Cantor for 40 years, stepped down last month to run President Donald Trump's commerce department.

  • Apr 22, 2025

Stocks, dollar rebound as Trump backtracks on Fed attack

SYDNEY (Reuters) -Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after U.S. President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China. The dollar jumped sharply across the board after Trump walked back the threats to dismiss Fed Chair Jerome Powell that had badly shaken investor confidence in U.S. assets, although those gains faded somewhat as the day progressed. Trump also reiterated he wanted to do a deal with China where tariffs would not be anywhere near 145%, adding that he would set the terms of a deal if Beijing did not enter talks.

  • Apr 22, 2025

Trump Media pushes forward with pivot to crypto, ETF plans

(Reuters) -U.S. President Donald Trump's social media firm, Trump Media & Technology Group, said on Tuesday it had reached a binding agreement to roll out an array of retail investment products, including crypto, in its latest bid to diversify into financial services. The plan, including a series of exchange-traded funds aligned with Trump's America First policies, followed news of a preliminary agreement reached last month between Trump Media and Crypto.com, a digital asset platform with ties to broker-dealer Foris LLC, and Yorkville America Digital, an affiliate of Yorkville Advisors, a New Jersey-based investment advisory and asset management firm.

  • Apr 22, 2025

Fed's Kugler, citing inflation risks, supports steady policy rate

Kugler said she is carefully watching how the Trump administration's trade, immigration, fiscal policy and regulatory changes impact inflation and the labor market, but the "significantly larger" than expected tariffs clearly had her attention. "I am also monitoring any risks to the outlook, especially upside risks on inflation or downside risks to employment," Kugler said in remarks prepared for delivery to the Heller-Hurwicz Economics Institute at the University of Minnesota. Fed policy is "well positioned" to respond to changes in the economy, she said.

  • Apr 22, 2025

Trump says he has 'no intention' of firing Federal Reserve chair

President Donald Trump said Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, just days after his statement that he would like to terminate the head of the U.S. central bank caused a stock market selloff. “I have no intention of firing him,” Trump told reporters. The U.S. president had previously insinuated otherwise as he said he could fire Powell if he wanted to, having been frustrated by the Fed putting a pause on cuts to short-term interest rates.

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