Bitcoin has shown unusual strength against a backdrop of economic instability, with its price climbing nearly 7% over the past week to reach around $84,000 and even briefly touching $86,000.
Figma has confidentially filed for an IPO more than a year after a $20 billion acquisition bid by Adobe fell apart due to antitrust concerns.
In a Tuesday filing, the company said it had reached a loan agreement with crypto exchange Coinbase allowing it to borrow money — using its bitcoin stockpile as collateral — to pay the settlement.
The stock market is now looking at "significant upside" from current levels, said Fundstrat's Tom Lee.
China's growing pile of cryptocurrencies seized from illegal transactions is prompting local governments to find ways to dispose of the hoard and spurring calls from courts and the financial industry for better regulation. Together with senior judges and police, attorneys are debating changes to rules they said will soon change the way confiscated virtual currencies are treated. That could be a game-changer for China's crypto industry, and comes at a time of heightened Sino-U.S. tensions in Donald Trump's second presidency, coinciding with Trump's plans to deregulate cryptocurrencies and build a bitcoin reserve.
"If Treasuries hit a certain level or if the Federal Reserve believed that a foreign — I won't call them an adversary — but a foreign rival were weaponizing the U.S. government bond market or attempting to destabilize it for political gain, I am sure that we would do something in conjunction with each other, but we just haven't seen that," Bessent said. "We have a big tool kit."
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Omnicom witnessed declines in revenue growth across segments including healthcare, public relations, branding and retail, in the quarter, countering a 7.2% rise in the media and advertising business, the company's biggest. As businesses rein in ad budgets amid geopolitical tensions and stubborn inflation, the slowdown in client spending is weighing on revenue growth for major advertising firms like Omnicom. Omnicom's revenue stood at $3.69 billion in the quarter ended March 31, compared with analysts' average estimate of $3.72 billion, according to data compiled by LSEG.
