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The share price of crypto and fintech company Circle Internet Group (NYSE: CRCL) is rising yet again today in early market trading. After the stock jumped over 33% on Wednesday (markets were closed for Juneteenth on Thursday), shares in the newly publicly traded company were up as high as another 15% in premarket trading this morning. And you can thank the U.S. Senate for that. Heres what you need to know. What is Circle? Circle Internet Group, better known as Circle, is a fintech company that offers a range of financial products. Circle was founded in 2013 as a Bitcoin payments processor. The company currently offers a range of fintech developer services, including digital wallets and blockchain transfer solutions. However, Circle is best known for its two stablecoins, USDC and EURC. Stablecoins are a type of cryptocurrency that is much less vulnerable to wild price swings because a stablecoins price is tied directly to a real-world asset. In the case of the USDC stablecoin, its value is tied directly to the U.S. dollar. Circles EURC stablecoin is tied to the value of the Euro. Stablecoins thus help provide investors with stability while still allowing them to invest in crypto assets. In terms of market cap, USDC is currently the seventh most valuable cryptocurrency with a value of over $61 billion. The most valuable stablecoin in terms of market capitalization is Tether, which has a total valuation exceeding $155 billion. Cryptocurrency king Bitcoins market cap is currently north of $2.1 trillion. In March 2024, Fast Company named Circle as one of its Most Innovative Companies based on the impact its stablecoin was having on the crypto industry. Why is CRCL stock rising today? Shares in Circle Internet Group were at one point trading over 15% higher in premarket trading this morning. Some of those gains were lost when the markets opened, but currently, CRCL stock is still up over 12% in early market trading. That follows an impressive 33% rise in the stocks price on Wednesday. So why is Circle popping today? Well, you can thank the U.S. Senate. The congressional body passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) on Tuesday. The act is the first to seek regulation of stablecoins. Its passage would establish a regulatory framework for stablecoins, further legitimizing the digital tokens and integrating them more closely within the U.S. economy. Such a move would likely only benefit stablecoin providers, like Circle. The GENIUS Act would also benefit stablecoin investors because it would require that stablecoins be backed by liquid assets, including U.S. dollars or short-term Treasury bills, notes Reuters. Issuers of stablecoins would also be required to disclose their reserves composition on a monthly basis, leading to greater transparency. Circle stock price may depend on House now However, while Circle investors continue to cheer the Senates passage of the GENIUS Act on Tuesday, the act may still not become law. Thats because it now must go to the House for approval. And as Reuters notes, various groups, including the Conference of State Bank Supervisors, are calling for critical changes to the bill. If the bill stalls in the House, or is killed, CRCL stock may give back some of the gains it has made this week. But as of today, Circles stock price run has been nothing short of impressive. Circle Internet Groups initial public offering (IPO) was held just over two weeks ago on June 5. Since then, the price of CRCL stock has surged a staggering 589%. The IPO price of CRCL was $31 per share. As of the time of this writing, CRCL shares are trading at over $225 per share.
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E-Commerce
Rather than the Sunday scaries or toxic bosses, employees have unlocked a new workplace fear: office chair butt. While not a new concern, the term has resurfaced on TikTok to describe how sitting for long stretches affects the look of your behindwhat medical professionals call atrophy of your gluteal muscle group. A lack of conditioning in your gluteus maximus and surrounding tissue leads to weakness, making it build up fat tissue and appear flatter or saggy, occupational therapist Michael Milicia told the Cleveland Clinic. And its not just an aesthetic issue. Other symptoms of office chair butt can include poor posture, lower back pain, and limited mobility over time. Theres a reason researchers have dubbed sitting the new smoking, linking chronic sitting to serious health problems including heart disease, cancer, diabetes, depression, and anxiety. Now, the term has gone viral on TikTok. And theyre not taking it sitting down. I refuse to be a victim, posted one TikTok user, showing the routine of squats, lunges, and standing leg lifts she performs at her desk. I dont think youre in danger, one person commented. @dan.paulaa I wil not fail my glutes #gymtok #fitness EoO – Bad Bunny No office chair butt for us, another user posted, leading her coworkers through a series of exercises. The video quickly inspired others: Just saw this while at work and immediately put my desk to standing, read one comment. @nikkiiim aw hell nah #fyp #officechair #deskchair #corporatelife #workoutmotivation #corporatetiktok #corporatehumor #lmao Bunna Summa – BunnaB Since most workplaces dont come with a fully equipped gym, employees have gotten creative. Some use the office escalator as a makeshift StairMaster. One video shows an employee swapping out traditional weights for a water cooler while performing Bulgarian split squats. Me every 30 minutes when I find out what office chair butt is, another TikTok user wrote, running up and down stairs and doing laps around a conference room. @krystinamaysonet I REFUSE TO FALL VICTIM! sooo its actually a thing, I was legit shook. You wont catch me sitting during a shift again #officelife #gymtok #officechair #playboycarti #fyp #parati #lilyachty #future #glutesworkout som original – Trap Music Fun If youre reading this: Give me 10 squats. Stat.
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E-Commerce
If youve spent any time reading the news, listening to the radio, or talking to just about anyone, you know that a big heat wave is expected to make its way across the United States. But you might not be able to expect much help from the federal government if you want to monitor heat-related risks. The Centers for Disease Control and Prevention (CDC) appears to have stopped updating part of its Heat & Health Tracker. The top of the page reads, This website is no longer being maintained, and no new data will be added. Fast Company has reached out to the CDC for comment and will update this post if we hear back. The Heat & Health Tracker allowed users to gather information about their county, such as daily heat-related illness rates. The map rated each area from little to none to extreme based on emergency department visits due to heat-related illness. The map currently only displays information up until May 21, 2025. Some functions are still working Despite the websites statement that no new data will appear, some of the Heat & Health Trackers information is still up to date. The HeatRisk tool, which is sourced by the National Weather Service (NWS) and the National Oceanic and Atmospheric Administration (NOAA), was still showing updated data as of Friday. Notably, in May NOAA stopped tracking weather disasters brought on by climate change after decades of doing so. As of publication, visitors to the site can still plug in their zip code and see todays HeatRisk, air quality, and actions they can take to protect their health. It also shows the HeatRisk forecast for the next six days. The HeatRisk map, launched last year, does come with a disclaimer stating, HeatRisk is an experimental product and is not supported 24/7. Changes may occur without advance notice. Under President Donald Trumps second administration, government resources and funding have disappeared left and right. On Tuesday, the Trevor Project received notice that the national suicide hotline must close its LGBTQ+ youth services by July 17. Since 2022, the nonprofit for LGBTQ+ suicide prevention group has worked with the Department of Health & Human Services (HHS) to support individuals who contact the 988 Lifeline. The government has also taken steps to remove potentially lifesaving information about topics like vaccines, sexually transmitted diseases, and dementia.
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E-Commerce
The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He’s also cofounder and CEO of holding company TWG Global.Forbes estimates Walter’s net worth is $6.1 billion. The publication ranked him at No. 216 on its Forbes 400 list last year.Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law.In the mid-1990s, he cofounded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter cofounded in the late 1990s.In addition to Guggenheim, Walter cofounded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance, and Delaware Life. It also includes aerospace and defense technology company Shield AI.Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk’s AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry.TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women’s Hockey League andthrough TWG Motorsportsownership of several auto racing teams including Cadillac Formula 1.Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond, and OneGoal. Alex Veiga, AP Business Writer
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E-Commerce
An appeals court on Thursday allowed President Donald Trump to keep control of National Guard troops he deployed to Los Angeles following protests over immigration raids.The decision halts a ruling from a lower court judge who found Trump acted illegally when he activated the soldiers over opposition from California Gov. Gavin Newsom.The deployment was the first by a president of a state National Guard without the governor’s permission since 1965.In its decision, a three-judge panel on the 9th U.S. Circuit Court of Appeals unanimously concluded it was likely Trump lawfully exercised his authority in federalizing control of the guard.It said that while presidents don’t have unfettered power to seize control of a state’s guard, the Trump administration had presented enough evidence to show it had a defensible rationale for doing so, citing violent acts by protesters.“The undisputed facts demonstrate that before the deployment of the National Guard, protesters ‘pinned down’ several federal officers and threw ‘concrete chunks, bottles of liquid, and other objects’ at the officers. Protesters also damaged federal buildings and caused the closure of at least one federal building. And a federal van was attacked by protesters who smashed in the van’s windows,” the court wrote. “The federal government’s interest in preventing incidents like these is significant.”It also found that even if the federal government failed to notify the governor of California before federalizing the National Guard as required by law, Newsom had no power to veto the president’s order.Trump celebrated the decision on his Truth Social platform, calling it a “BIG WIN.”He wrote that “all over the United States, if our Cities, and our people, need protection, we are the ones to give it to them should State and Local Police be unable, for whatever reason, to get the job done.”Newsom issued a statement that expressed disappointment that the court is allowing Trump to retain control of the Guard. But he also welcomed one aspect of the decision.“The court rightly rejected Trump’s claim that he can do whatever he wants with the National Guard and not have to explain himself to a court,” Newsom said. “The President is not a king and is not above the law. We will press forward with our challenge to President Trump’s authoritarian use of U.S. military soldiers against citizens.”The court case could have wider implications on the president’s power to deploy soldiers within the United States after Trump directed immigration officials to prioritize deportations from other Democratic-run cities.Trump, a Republican, argued that the troops were necessary to restore order. Newsom, a Democrat, said the move inflamed tensions, usurped local authority and wasted resources. The protests have since appeared to be winding down.Two judges on the appeals panel were appointed by Trump during his first term. During oral arguments Tuesday, all three judges suggested that presidents have wide latitude under the federal law at issue and that courts should be reluctant to step in.The case started when Newsom sued to block Trump’s command, and he won an early victory from U.S. District Judge Charles Breyer in San Francisco.Breyer found that Trump had overstepped his legal authority, which he said only allows presidents can take control during times of “rebellion or danger of a rebellion.”“The protests in Los Angeles fall far short of ‘rebellion,'” wrote Breyer, who was appointed by former President Bill Clinton and is brother to retired Supreme Court Justice Stephen Breyer.The Trump administration, though, argued that courts can’t second guess the president’s decisions and quickly secured a temporary halt from the appeals court.The ruling means control of the California National Guard will stay in federal hands as the lawsuit continues to unfold. Associated Press
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E-Commerce
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