Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
Joe Lonsdale says his fellow Palantir co-founder Peter Thiel was "courageous" for speaking out against Alphabet's Google.Technologyread more
Wall Street analysts say it is increasingly possible the Trump administration will try using a stronger weapon in the currency wars than just presidential tweets.Market Insiderread more
Twitter has rebuilt its website from the ground up for the first time ever, here's what it looks like.Technologyread more
Amazon is expanding its empire and Morgan Stanley believes Bezos' ambitious satellite internet plan could become very lucrative.Investing in Spaceread more
Charles Schwab is in talks to buy USAA's brokerage and wealth-management operations for about $2 billion, The Wall Street Journal reported.Wall Streetread more
The talks are expected to be the most contentious in a decade amid "America first" policies from the Trump administration, a tight labor market and thousands of job cuts and...Autosread more
Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday.
"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.
"This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college ought to be invested in."
Bitcoin has been soaring all year, starting out at $1,000 and rocketing above $19,000 on the Coinbase exchange last week. The price on Coinbase, which accounts for a third of bitcoin trading value, is often at a premium over other exchanges.
The cryptocurrency was trading at just under $16,700 on Coinbase at 2:21 p.m. New York time Monday.
"You're on this mania curve. At some point in time there's got to be a leveling off. Cryptocurrency is here to stay. Blockchain is here to stay. Whether it is bitcoin or not, I don't know," Borg said in an interview with "Power Lunch. "
He also doesn't think futures contracts legitimize the digital currency.
While futures contracts are regulated, bitcoin itself is not. Borg said that's because innovation and technology always outrun regulation.
"As [technology] continues to accelerate and continues to increase, regulators have got to understand what it is that the innovation's coming up with and we're still trying to get educated," he said.
"We're looking at it from a money transmission point of view but that doesn't cover the entire bitcoin space."