Axios

Three Democratic senators will introduce amendments around national security issues Thursday morning ahead of a Senate Banking Committee markup on stablecoin legislation, Axios has learned.

Why it matters: The markup on the GENIUS Act is a key step in advancing a stablecoin bill, one of the top digital asset-related priorities for Republican lawmakers in the new Congress.

The world's largest retailer is clashing with China over the company's efforts to reduce the impact of President Trump's increased tariffs.

Why it matters: Walmart — whose brand is inextricably linked to low prices — is trying to leverage its monumental size to mitigate its own costs from the billowing international trade war.

Rep. Marjorie Taylor Greene (R-Ga.) and seven other GOP House members on Wednesday called for a "domestic terrorism" investigation into attacks against Tesla and Elon Musk.

Why it matters: #TeslaTakedown protests have largely been peaceful, but the letter from the members of Congress is an attempt to paint the entire opposition movement and Democrats as supporting violence.

Hightouch, a platform for customized marketing, has launched an employee tender offer that will value the business at $1.3 billion, it tells Axios exclusively.

Why it matters: It's not just slow IPO markets driving the recent tender offer frenzy — the AI boom is also playing a big part.

Driving the news: Stepstone and PeakXV will buy up to $30 million in common stock in the tender offer, at a step up in valuation from the $1.2 billion Hightouch netted last month from investors including Sapphire Ventures.

• Employees who have been with the business at least two years will be able to sell — lower than the typical four year requirement. Hightouch has also given employees a massive 10-year post-departure exercise window.

The big picture: This decision to offer liquidity earlier on is partly a response to the mass outcry from startup employees that — unable to cash out — had their huge paper gains in 2021 gutted.

• The other part is the heavy competition for AI talent: "We're competing against offers from OpenAI and Anthropic — and those companies have tender offers that make them look liquid," says Hightouch co-CEO Kashish Gupta.

The bottom line: Every company nowadays needs AI talent.

Bolt confirmed today that it had cleared up the bevy of legal cases against the company, but it didn't say whether it had completed its controversial 2024 fundraising attempt.

Why it matters: That deal, which carried a $14 billion valuation and would have crammed down existing shareholders, was never completed, four sources familiar with the situation say.

Inflation eased in February: The Consumer Price Index rose 0.2% last month, while the gauge that excludes food and energy prices increased by a similar amount, the Labor Department said on Wednesday.

Why it matters: Inflation cooled as tariffs began to take effect, though economists warn about higher consumer prices and an economic slowdown as the trade war intensifies.

Antisemitic conspiracy theories are flooding America's most popular pro-Trump podcasts, exposing deep political and moral fissures at the heart of the new MAGA coalition.

Why it matters: At a moment of record-high antisemitism in the U.S., an astonishing split screen has emerged between the Trump administration and prominent influencers that reliably spread MAGA's message.

As Elon Musk's slash-and-burn budget cuts hit Republican and Democratic areas alike, some GOP lawmakers are privately back-channeling with the Trump administration to try to shield their constituents from the fallout.

Why it matters: Republicans have largely cheered on DOGE in public — but behind the scenes, many of President Trump's allies fear potential political backlash to the cuts, and are scrambling to limit the damage.

The European Union announced Wednesday counter tariffs of 26 billion euros ($28.33 billion) on U.S. goods, "matching the economic scope" of President Trump's levies.

The big picture: Trump's 25% tariffs on all steel and aluminium imports took effect earlier on Wednesday.

Commerce Secretary Howard Lutnick on Tuesday called President Trump's economic policies "the most important thing America has ever had."

The big picture: Concerns are building that the Trump administration's tariffs might trigger a recession and CBS News' Nancy Cordes asked Lutnick whether the policies would "be worth it if they lead to a recession, even a short-term recession."

President Trump on Tuesday imposed new retaliatory tariffs on Canada and insisted the only solution was for the country to join the U.S. — but then reversed his decision after Ontario agreed not to levy electricity exports.

Why it matters: The pullback was the latest example of the on-again, off-again volatility that has disrupted financial markets.

Elon Musk has told the White House he plans to give $100 million to President Trump's political operation, according to a person familiar with his plans.

Why it matters: The contribution is unheard of in both amount and type: Musk, who is technically a special government employee, is the world's richest person.