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Stock Market Today: Dow Hits 50,000 For First Time — Live Updates The Wall Street JournalDow surges 1,200 points for first close above 50,000 in sharp rebound from tech rout: Live updates CNBCStocks hit historic milestone as Dow crosses 50,000 points for first time ever cnn.comStocks Rebound After Volatile Week as Dow Hits Record High The New York TimesThe Road to Dow 50000
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Paul Weiss Partners Turned on Brad Karp After Learning Extent of His Epstein Ties The New York TimesBrad Karp steps down as chairman of major law firm Paul Weiss after Epstein files release BBCLeader of Paul Weiss Resigns Over Epstein Ties The Wall Street Journal‘Call Brad Karp': Epstein's Fondness for Lawyer Ends in Downfall bloomberg.comBrad Karp Steps Down As Chairman Of Paul Weiss Original Jurisdiction | David Lat
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How options on the BlackRock bitcoin ETF may have worsened crypto meltdown CoinDeskBitcoin (BTC) price: BlackRock's ETF (IBIT) hits $10 billion volume record, hinting at capitulation CoinDeskBlackRock Links Record Bitcoin ETF Volumes With New Digital Advice Push simplywall.stAussie crypto ETF investors unfazed by Bitcoin bloodbath investordaily.com.au
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Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Treasury, and other agencies weighed in on how to manage and regulate a CBDC.
The government is reacting in part to the explosive growth of digital currencies. About three out of ten U.S. adults currently invest in some form of cryptocurrency, or "crypto," like Bitcoin or Ethereum. These digital "coins" rely on a decentralized network of computers to verify financial transactions, cutting out third parties like banks or credit cards.
The good, the bad, and the ugly of crypto
Advocates of crypto point to its affordability, efficiency, and its ability to reach consumers with little or no access to traditional banking services. With just a mobile phone or a crypto ATM, consumers can easily send and receive digital currency, even across international borders.
On the other hand, crypto is still largely unregulated and volatile. Investors in Bitcoin, for example, saw returns of over 70% in 2021, but the currency is down almost 60% year to date. And if you send your payment to the wrong account (called a "digital wallet") there may be no way to retrieve it. Crypto has also been used for money laundering, fraud, and to fund terrorism. Several
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