Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
Square CEO Jack Dorsey wants his company to be at the forefront of getting cryptocurrency accepted as legitimate means of global payment.
"The internet is going to have a native currency so let's not wait for it to happen, let's help it happen," Dorsey said on stage at the Consensus blockchain conference in New York Wednesday. "I don't know if it will be bitcoin but I hope it will be."
Using it or another cryptocurrency as a global currency would lower the barrier for Dorsey's payments company to enter new markets, he said.
"If we were able to use it a currency today, we could release our apps in every app store around the world instead of the five we're in," Dorsey said. Since Square deals with fiat currency, Dorsey said the company has to approach each market differently, find a unique banking partner, and work with different regulators depending on the country.
Square launched cryptocurrency trading through its Cash app in January.
The payments processing company said it sold a total of $34.1 million in bitcoin in the first quarter. Square spent $33.9 million to buy bitcoin to allow people to trade it through its Cash mobile payments app. As a result, adjusted revenue from bitcoin was just $200,000.
Square's mobile payment app is growing faster than PayPal's Venmo and is getting an added boost because it allows transactions in bitcoin, according to Nomura Instinet.
Dorsey has been notoriously bullish on bitcoin's role in the future of payments, and told the Sunday times newspaper in March he expects bitcoin to become the single global currency within the next decade.
Dorsey is a personal investor in bitcoin and said he expects the digital currency to be used for simple things like coffee. The CEO predicted a 10-year timeline "but it could go faster," the U.K.-based paper reported.
Others, including Stanley Druckenmiller, have been skeptical about a practical use for bitcoin. He told CNBC in December that he doesn't hold bitcoin and it won't work as currency "because you can't do transactions, particularly retail transactions, with this kind of volatility."
Bitcoin has fallen roughly 40 percent this year, and was trading near $8,260 Wednesday.