Janet Yellen says FTX collapse shows cryptocurrencies are "risky… even dangerous" investments
CBSN
Treasury Secretary Janet Yellen has told CBS News that the spectacular collapse of cryptocurrency exchange FTX, which sent shockwaves through the crypto world last week with its bankruptcy filing, should serve as a warning to Americans about investing their money in "extremely risky" financial products traded in a space lacking "appropriate supervision and regulation."
FTX, one of the world's largest cryptocurrency exchanges, crumbled in the space of only about one week, and both the company and its former CEO, Sam Bankman-Fried, are now being investigated in the U.S. and other nations for possible securities violations. While the fallout from FTX's collapse has largely been limited to the crypto finance markets, Yellen joined a rising chorus of experts and officials around the world suggesting the digital currency industry should face more regulation.
"I think this is a space where investors and consumers should really be very careful," Yellen told CBS News correspondent Nancy Cordes in a wide-ranging interview in Bali, where the Treasury Secretary was attending the G20 summit alongside President Biden. SHe
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Washington – President Trump and Russian President Vladimir Putin held a 50-minute phone call Saturday to discuss the escalating situation in the Middle East and Ukraine peace talks, the White House and Kremlin confirmed.
Authorities are investigating after targeted shootings left one Minnesota lawmaker dead and another injured. Gov. Tim Walz called the shootings "politically motivated" in a news briefing on Saturday.
Minnesota state Rep. Melissa Hortman and her husband were killed, and state Sen. John Hoffman and his wife were wounded in politically motivated shootings overnight, Gov. Tim Walz said Saturday. Hortman and her husband were shot in Brooklyn Park, while Hoffman and his wife were shot in Champlin.
The Trump administration has directed Immigration and Customs Enforcement to halt arrests at farms, restaurants and hotels amid concerns that the president's crackdown on illegal immigration is hurting key industries, two sources familiar with the abrupt policy change told CBS News.
Cities large and small were preparing for major demonstrations Saturday across the U.S. against President Donald Trump, as officials urge calm, National Guard troops mobilize and Trump attends a military parade in Washington to mark the Army's 250th anniversary.
Israel's defense minister warned Saturday that "Tehran will burn" if Iran continues firing missiles at Israel. Iran's retaliatory strikes come after Israel unleashed a series of blistering attacks on Iran's nuclear program and armed forces on Thursday.
Washington — President Trump is attending a military parade Saturday evening to celebrate the Army's 250th anniversary festivities as he celebrates his 79th birthday.
The State Department on Thursday informed multiple U.S.-allied governments in the Middle East in advance of Israel's strikes on Iran, four sources told CBS News.
Roughly 60 people who were protesting President Trump's Army anniversary parade and his deployment of National Guard troops in Los Angeles were arrested outside the U.S. Capitol Friday, authorities said.
President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear.
New York — At the Museum of Illusions in New York City, around every corner is a wonder for the eyes. There's a vase that's a face, art that moves with you, and a room that seems to go on forever.
The U.S. Centers for Disease Control and Prevention is now urging summer camp operators to check for documentation of immunity from measles through vaccination or prior infection for all children, staff and volunteers, amid a deadly year of outbreaks that is now near record levels.
Trump's military parade tomorrow isn't the first in the U.S. — but they're rare. Here's a look back.
Washington — President Trump is hosting a parade celebrating the 250th anniversary of the U.S. Army on Saturday, bringing tanks and soldiers to the streets of Washington, D.C., for the capital's first major military parade in more than three decades.