Money, Wealth & Power—A Daily Look at the Financial World
Peter Schiff has spent years warning that Bitcoin is structurally fragile, but his latest argument raises the stakes: he now suggests that only a government backstop could prevent a brutal reckoning for holders. The idea that the flagship cryptocurrency might one day depend on the very institutions it was designed to bypass cuts to the…
Financial markets have spent much of the autumn doubting that The Fed would move again this year, but the balance of evidence has shifted in favor of another cut at the coming meeting. A combination of softer data, rising concern about the labor market and a notable change in tone from key policymakers now points…
Elon Musk has pushed his net worth to a level no individual has previously reached, turning a once-hypothetical benchmark into a concrete figure that now defines the upper edge of personal wealth. His fortune, driven largely by surging valuations at Tesla and SpaceX, has not only eclipsed prior records but has also sharpened the debate…
President Donald Trump is still a billionaire many times over, but his latest financial disclosure shows a sharp reversal from the highs he enjoyed over the past year. After a surge that made him significantly richer since 2024, his estimated fortune has now fallen by $1.1 billion, a swing that underscores just how volatile his…
Bitcoin’s blistering rally to a fresh record in October has given way to a harsh reversal, with the price now roughly 30% below that peak and dragging the wider crypto market into a deep selloff. The slide has turned what looked like a new era of mainstream acceptance into a stress test of investor conviction,…
Eli Lilly’s entry into the $1 trillion club has turned a century-old drugmaker into the market’s newest momentum story, powered less by traditional pharma pipelines than by a cultural obsession with weight loss. The surge in appetite for GLP-1 drugs has pushed the company into the same valuation stratosphere as the biggest technology names, forcing…
The United States has just added another trillion dollars to its tab in barely more than two months, pushing the national debt to levels that would have seemed unthinkable a generation ago. The pace of borrowing has shifted from a slow climb to a sprint, turning what was once a distant concern into an immediate…
Oracle has gone from market darling to cautionary tale in a matter of weeks, with its share price sliding more than 40 percent from a September peak as investors reassess how much they are willing to pay for its artificial intelligence ambitions. The selloff has been sharp enough to rattle confidence across the broader AI…
Nvidia chief executive Jensen Huang has vaulted into the ranks of the world’s wealthiest, riding a historic boom in demand for the chips that power artificial intelligence. His fortune has now climbed high enough to place him ninth globally, a shift that underscores how central Nvidia has become to the current technology cycle. Huang’s rise…
Amazon’s powerful rally earlier this year has largely evaporated, leaving the stock roughly flat for 2025 even as the company posts solid profits and leans harder into artificial intelligence and cloud infrastructure. The gap between the business Amazon is building and the share price investors now see is widening, but that disconnect also sets the…