Author: GT

The entrance to the Consumer Financial Protection Bureau (CFPB) headquarters is seen during a protest on Feb. 10, 2025 in Washington, DC.Anna Moneymaker | Getty ImagesFor the third time under President Donald Trump, the Consumer Financial Protection Bureau has pulled back from enforcing a key rule, this time targeting buy now, pay later services.The CFPB said in a notice on Tuesday that it will not prioritize enforcement of a rule, established during Joe Biden’s presidency, that classified BNPL providers as credit card issuers subject to the Truth in Lending Act. Fintech lenders had been required to comply with more stringent…

Rivian said in its earnings report Tuesday it will likely deliver fewer vehicles this year than previously forecasted due to President Trump’s tariffs and other regulatory changes, making it the latest automaker to be affected by the new administration’s chaotic economic policies. The company said Tuesday it expects to deliver between 40,000 and 46,000 EVs by the end of 2025. That’s despite Rivian saying one month ago that it was still holding to its estimate of delivering 46,000 to 51,000 vehicles across this year. Rivian raised its capital expenditure guidance to between $1.8 billion and $1.9 billion due to the…

The UK has ruled out the possibility of having a Strategic Bitcoin or crypto reserve, unlike the U.S. On May 6, speaking at the Financial Times Digital Asset Summit in London, Economic Secretary to the Treasury, Emma Reynolds, MP, said, “We don’t think that’s appropriate for our market.” Reynolds said the U.S. has changed course under President Trump but added: “That’s not the plan for us.” Although the U.K. isn’t as quick to follow Washington’s lead on Bitcoin accumulation, it is throwing in with the U.S. when it comes to regulatory cooperation, Reynolds explained. She also noted that talks between…

Like many leaders in tech, Arvind Krishna, the CEO of IBM, thinks federal R&D funding for AI and related technologies should be increased — not the other way around. “We have been an extremely strong advocate — and this is both the company and me personally — on that federally funded R&D should be increased,” Kirshna said in an interview with TechCrunch. “That’s the position, which is unequivocal, and we strongly believe in that.” President Donald Trump and his cabinet have sought to make deep cuts to federal grantmaking and scientific research programs in pursuit of a far different set…

It is often said that crypto is part technology and part religion. As such, it is hardly surprising that the unfolding regulatory overhaul has been accompanied both by vigorous soul searching related to the state of crypto’s (often anti-establishment) core values and palpable excitement over potential new use cases. With the blessing of CoinDesk, I asked the panelists of our upcoming people’s regulatory roundtable at Consensus 2025—each of them crypto veterans and advocates for sensible regulation—about safeguarding crypto values in regulatory reform and about the innovation that new regulation is making possible. You can catch Kayvan Sadeghi, Connor Spelliscy, Lewis…

The U.S. has become a leading exporter of one popular cooking and heating gas: propane.However, America’s position could be in jeopardy as the trade war with China rages on. China, Japan and Mexico are frequent docking destinations for VLGCs, or very large gas carriers, filled with propane.The country’s shores and pipelines saw 57 million barrels of propane leave in January of this year, according to the Energy Information Administration. China accounts for 12 million, or just more than one-fifth of U.S. exports in January.”China is very dependent on the United States for its propane, and because it wants to make…

By Hannah Lang (Reuters) -Tensions on Capitol Hill over President Donald Trump’s various cryptocurrency ventures escalated on Tuesday and threatened to derail the digital asset sector’s hope of legislation by the end of this year as a top Democratic lawmaker stalled efforts to debate a bill. Although Congress had appeared likely earlier this year to pass legislation governing digital assets for the first time, Democrats have grown increasingly frustrated as Republican Trump and his family members have promoted their personal crypto projects. Representative Maxine Waters’ objection to a joint hearing scheduled for Tuesday effectively cancelled proceedings between the House Financial…

Nvidia CEO, Jensen Huang, speaks during an interview on CNBC’s ‘Power Lunch’ on May 6, 2025.CNBCNvidia CEO Jensen Huang said on Tuesday that China’s artificial intelligence market will likely reach about $50 billion in the next two to three years, and that missing out on it would be a “tremendous loss.” Huang said being able to sell into China would bring back revenue, taxes, and “create lots of jobs here in the United States.””We just have to stay agile,” Huang told CNBC’s Jon Fortt, in an interview alongside ServiceNow CEO Bill McDermott. The tech execs were in Las Vegas for…

Anthropic is launching an AI for Science program to support researchers working on “high-impact” scientific projects, with a focus on biology and life sciences applications. The program, announced Monday, will offer up to $20,000 in Anthropic API credits over a six-month period to “qualified” researchers who’ll be selected based on their “contributions to science, the potential impact of their proposed research, and AI’s ability to meaningfully accelerate their work.” Recipients will gain access to Anthropic’s standard AI model suite, including all of the company’s publicly available Claude family of models. “Advanced AI reasoning and language capabilities can help researchers analyze complex…

OpenAI has decided that its nonprofit division will retain control over its for-profit organization, after the company initially announced that it planned to convert to a for-profit organization. According to the company, OpenAI’s business wing, which has been under the nonprofit since 2019, will transition to a public benefit corporation (PBC). The nonprofit will control and also be a large shareholder of the PBC. “OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit,” OpenAI Board Chairman Bret Taylor wrote in a statement on the company’s blog. “Going forward, it will continue to be overseen…