Many investors and analysts have increasingly lowered their expectations for the U.S. and China to find a quick resolution.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
With two exchanges set to begin offering bitcoin futures this month, a CFTC official said on Wednesday that government regulation aims to preserve the integrity of the contracts.
"The exchanges are looking at the underlying cash contract to make sure it's not manipulated," Andrew Busch, chief market intelligence officer at the Commodity Futures Trading Commission, told CNBC's "Squawk Box." "Our role as a derivatives regulator is to make sure the futures contract it's not manipulated. We're going to do that for sure."
Bitcoin has been hitting record high after record high this year. But trading in the crytocurrency has also been highly volatile, with double-digit percentage swings on a daily basis rather commonplace.
The CME Group and Cboe Global Markets, the companies behind two major futures exchanges, hope to capitalize on the interest and apprehension surrounding bitcoin by offering products with a layer of government regulation. But Busch at the CFTC, which has approved plans by the exchanges, did warn the "underlying cash market is not regulated at this point."
Cboe bitcoin futures are set to begin trading on Sunday. The CME contracts are slated to launch on Dec. 18. Nasdaq, meanwhile, plans to launch its own bitcoin futures as early as the second quarter of 2018.
Besides a market value, bitcoin is also a digital currency that is created by so-called miners with powerful computers online. It has no central authority, and the transactions are recorded in an anonymous public log called the blockchain.
"This is a unique animal unlike any commodity we've looked at before," said Busch.
The merits of bitcoin as a commodity — some have likened it to gold — and as a currency have been debated widely by bankers and tech investors alike.
For example, JPMorgan Chairman and CEO Jamie Dimon has repeatedly warned that bitcoin is a "fraud." But on the other side of that argument, Cameron and Tyler Winklevoss, the twins who famously battled Mark Zuckerberg over the origins of Facebook, were early investors and recently became the first well-known bitcoin billionaires.
Bitcoin surged past the $12,000 level in early Wednesday trading, according CoinDesk which runs a main crytocurrency exchange. Prices were up nearly 1,600 percent in the past 12 months.