Intercontinental Exchange, which owns the New York Stock Exchange, is opening a new cryptocurrency management company, according to the Verge.
Why it matters: The new company, Bakkt, could lend some legitimacy to cryptocurrency, which has "been marred by hoaxes and even reports of price manipulation," per the Verge. The Swiss investment bank UBS published a report concluding that the price of a single coin would need to sit around $213,000 for Bitcoin to be viable as a money supply; it currently sits at $7,000.
The Newseum, a D.C. museum dedicated to increasing "public understanding of the importance of a free press," according to its website, is selling apparel advertising one of President Trump's favorite sayings: "Fake news."
The details: The apparel, first reported by Poynter, includes "Make America Great Again" hats and a t-shirts that read, "You are very fake news." Journalists around the country have voiced outrage, saying the slogan is contradictory to encouraging a free press. But director of public relations for the museum, Sonya Gavankar, told Poynter it encourages another pillar of the First Amendment, free speech.
Nearly half of America's annual imports from China could soon come with a 25% tax, the end result of tariffs affecting everything from individual consumer buying decisions to long-term corporate investments.
The latest: China has threatened to tax another $60 billion worth of U.S. imports, a proportionate response to a $200 billion threat from the U.S. on Wednesday. The list of threatened goods ranges from foodstuffs to machinery and auto parts.
China is planning on hitting the U.S. with "differentiated tariffs on about $60 billion of U.S. goods," according to Bloomberg.
The big picture: This comes days after reports that the White House was considering increasing the tariffs on Chinese goods from 10% to 25%. A Chinese Foreign Ministry spokesman said on Wednesday that if the U.S. follow through, "China will inevitably take countermeasures and we will resolutely protect our legitimate right."
Members of the media are speaking out after President Trump launched a series of attacks on the press referring to them as an "enemy of the people."
Why it matters: Trump has long been critical of the mainstream media, but going so far as to call the media an "enemy of the people" is meant to fire up his base and further stoke distrust of the reporters he often clashes with.
