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Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Billionaire hedge fund manager Stanley Druckenmiller said Friday he doesn't have a problem with a higher capital gains tax.
"I don't really think capital gains promote investment as much as advertised out there. It's hard for me to believe that Larry Page, Mark Zuckerberg and Jeff Bezos would have said, 'Oh my God, the capital gains is going to be 35% and I'm not going to be trying to found Amazon or Google.' So I don't have a problem with it," Druckenmiller said on CNBC's "Squawk Box."
Former Vice President Joe Biden, the front-runner in the Democratic presidential primary, said recently that the current 20% capital gains tax is "much too low."
"The problem with the capital gains hike ... is that it might not raise that much revenue. And I'm not into something just because it's fair. But frankly, I think I kind of agree with Biden," Drukenmiller said.
Taxing the wealth has been a theme in the race for the 2020 Democratic presidential nomination. Sen. Elizabeth Warren has proposed an "ultra-millionaire" tax on the wealthiest families in America, and Sen. Bernie Sanders wants to jack up the estate tax, including a 77% rate for over $1 billion.
"The narrative about inequality is correct, but one piece of the story is left out, is that everybody is doing better and unfortunately the people [at the top] are really accelerating. I don't believe the way to solve this is let's just rule everything and everybody would be worse off," Drukenmiller said.
He is former chairman and president of Duquesne Capital and is currently CEO of Duquesne Family Office.