Distrust In US Inflation Data Threatens $2 Trillion Market
After President Donald Trump fired BLS chief Erika McEntarfer on Friday following a weak jobs report and said the figures were 'rigged,' investors have fretted that the move could erode trust in government data, which has a major effect on asset prices.
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Forbes
17 minutes ago
- Forbes
Trump 401(k) Executive Order 'A Major Step Toward Mainstream Adoption'
The executive order President Donald Trump signed on Thursday, August 7, which will allow investors to use their 401(k) accounts to purchase cryptocurrencies, represented 'a major step toward mainstream adoption" of such assets, according to analyst Joe DiPasquale. The move will achieve this progress by giving 'millions of Americans potential access to digital assets through familiar retirement vehicles,' DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email. Tim Enneking, managing partner of Psalion, also emphasized the significance of the executive decision. 'Trump's addition of crypto, real estate and PE could be massive for all three sectors, but is almost certain to be so for digital assets,' he stated through emailed commentary. 'This is true not only because of the massive pool of retirement capital in the US which will now be able to invest in crypto, but also because of the further legitimization of crypto as an asset class.' 'On the other hand, the executive order directed the SEC, IRS and other agencies to change their rules to accommodate this new approach, which will take time. Further, retirement money is inherently conservative, so I wouldn't expect an explosion of 401(k) funds into digital assets,' he emphasized. 'However, over time, the effect will be absolutely huge, almost certainly making the current $4T total market cap of the sector pale in comparison to what's coming!' Enneking concluded. DiPasquale also spoke to the potential time lag, stating that 'While uptake may start slowly due to plan provider caution and fiduciary concerns, over time it could channel significant long-term capital into the space — particularly if Bitcoin and Ethereum are included alongside traditional alternatives like gold.' 'This structural demand could help dampen volatility and broaden the investor base beyond the current retail and institutional mix,' he noted. Brian Huang, cofounder of fintech firm Glider, also weighed in, emphasizing how this executive order could potentially affect all digital assets. 'This executive order sets the precedent for any digital asset in a 401(k). We're not just talking about cryptocurrencies; we're talking about on-chain stocks, RWAs, and tokenized private equity," he stated via email. 'If you think this is just about holding BTC in your 401(k), you're missing the bigger picture. Tokenizing assets is the future that unlocks direct ownership of assets and removes middlemen,' Huang noted. 'One day, the majority of assets in 401(k)s will be on-chain,' he predicted. Tom Bruni, editor-in-chief & VP of community at Stocktwits, also emphasized the impact that this key development will have. 'Trump's latest executive order will add fuel to retail's growing adoption of cryptocurrencies as part of their investment portfolios,' he noted. 'This move will open up trillions more in capital to the crypto market, both directly and indirectly, and offer 'stickier' capital flows as most investors tend to take a long-term, dollar-cost-averaging approach to investing via their employer-sponsored retirement accounts,' Bruni added. 'Total retirement assets at the end of Q1 2025 totaled $43.4 trillion, of which $12.2 trillion (28% of the total) is held in defined contribution plans like 401(k)s and 403(b)s,' he stated, citing figures provided by the Investment Company Institute. 'For context, that's roughly ¾ of the size of the US individual retirement account market, which is $16.8 trillion in assets and has already largely been opened up to cryptocurrency investments. With that said, certain providers of these accounts still limit crypto exposure, even through ETFs and other traditional vehicles,' noted Bruni. 'This executive order, which further expands access to crypto through other retirement plans, will likely pressure the remaining holdouts to begin allowing investors to access crypto through their accounts, or they'll risk losing market share,' he predicted.
Yahoo
23 minutes ago
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White House meeting exposed: Trump officials scramble over Epstein bombshell
The Epstein uproar is engulfing the Trump administration, with new details emerging undercutting multiple White House narratives and fueling more questions. MSNBC's Ari Melber reports and is joined by Sarah Matthews, former Trump White House Deputy Press Secretary. (Subscribe to Ari's YouTube now:
Fox News
24 minutes ago
- Fox News
President Trump increases federal law enforcement presence in DC following violent crime surge
President Donald Trump has directed federal law enforcement to increase its presence throughout Washington, D.C., following a concerning surge in violent crime, including an incident in which a former DOGE worker nicknamed "Big Balls" was brutally beaten in the streets this week. Trump signed an executive order in March establishing the "Making DC Safe and Beautiful Task Force." Now the administration is taking a whole-of-government approach by deploying additional law enforcement to increase presence and improve overall public safety in the nation's capital city, according to a source familiar with the plans. The operation, which will use both local and federal law enforcement agencies, including Homeland Security Investigations, the FBI, DEA and others, begins at midnight on Thursday and will initially last for seven days with the option to extend "as needed." Law enforcement will focus on improving safety in high-traffic tourist areas and other known hotspots. In a statement to Fox News, White House Press Secretary Karoline Leavitt announced "there will be no safe harbor for violent criminals in D.C." beginning on Thursday night. "Washington, DC is an amazing city, but it has been plagued by violent crime for far too long," Leavitt said. "President Trump has directed an increased presence of federal law enforcement to protect innocent citizens. Starting tonight, there will be no safe harbor for violent criminals in D.C." She added, "President Trump is committed to making our Nation's capital safer for its residents, lawmakers, and visitors from all around the world." The source familiar with the plans noted that stamping out the "out-of-control violent crime plaguing DC" has been an "ongoing priority" for the president and that the move is him delivering on his campaign promise to restore the capital city. Among the priorities laid out in Trump's executive order, he directed the task force to deploy a more robust federal law enforcement presence and coordinate with local law enforcement in the District of Columbia, including the National Mall and Memorial Parks, museums, monuments, Lafayette Park, Union Station, Rock Creek Park, Anacostia Park, the George Washington Memorial Parkway, the Suitland Parkway, and the Baltimore-Washington Parkway. The order also instructs the task force to review and, if needed, revise federal prosecutorial policies on pretrial detention of criminal defendants to ensure individuals who pose a threat to public safety are detained to the maximum extent permitted by law. Additionally, the order instructs the task force to direct maximum enforcement of federal immigration law, redirecting federal, state or local law enforcement resources to apprehend and deport illegals throughout the area. The source said the additional law enforcement will be devoted to protecting D.C. residents and visitors from the "scourge of violent crime plaguing" the city. "President Trump promised to Make DC Safe Again on the campaign trail – this is another promise kept," they said.
