One of the world's largest luxury real estate firms wants to help you buy a house — with crypto
One of the world's largest luxury brokerages just launched a division solely dedicated to digital currency transactions.
Christie's International Real Estate, known for its global portfolio and luxury clientele, shared the news with the New York Times this week. Its newly minted team of lawyers, analysts and crypto experts is expected to meet a growing demand for all-crypto real estate deals.
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The bold move marks a first among major real estate firms.
5 A new division at Christie's will cater to luxury buyers eager for creative financing and complete anonymity.
Stefano Giovannini
5 Cryptocurrency's cachet in the traditional finance world is growing, and real estate is catching on.
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Aaron Kirman, CEO of a Christie's affiliate in Los Angeles, is spearheading the new division. Kirman has handled high-profile listings like the estates of Rodney Dangerfield and Cary Grant, as well as the former home of Yolanda Hadid and Kiley Jenner.
Kirman told the Times that the crypto trend in real estate is 'only going to get bigger over the next few years.'
While it's common practice for privacy-minded billionaires and celebrities to purchase properties behind anonymous shell corporations, even all-cash deals between iron-clad shell companies can be sleuthed out from time to time. Purchasing a home exclusively with cryptocurrency funds, rather than bank funds, essentially allows high-profile purchasers total anonymity.
Real estate deals made with crypto remain rare, but lucrative. Kirman closed a handful of high-end crypto deals over the last two years, he told the Times, including a $65 million Beverly Hills home.
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5 Digital currency can take the place of all-cash offers, as long as sellers are open to it.
Ari – stock.adobe.com
5 Major mortgage lenders were recently instructed to consider crypto assets as part of home loan applications.
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5 Crypto purchases within the mainstream market could become more commonplace.
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Christie's crypto-ready portfolio is reportedly worth more than $1 billion. Invisible House in Joshua Tree, a desert home with a totally mirrored facade, is accepting cryptocurrency offers equivalent to $18 million. A Bel Air mansion, dubbed La Fin, is worth $118 million, and currently stands as the priciest-ever home listed for crypto.
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Roughly 14% of American adults today own at least some cryptocurrency, according to a recent Gallup poll. Buying a home with crypto leaves big banks, and the potential for a home loan, out of the picture — for now.
President Trump's housing director, William Pulte, said in June he would instruct Fannie Mae and Freddie Mack to consider crypto assets as part of a homebuyer's loan application. Washington DC is increasingly embracing digital currency under the Trump administration.
Kirman told the Times he is in talks with big banks to pave the way for homebuyers who have cryptocurrency to spend, yet still require financing — a potentially major step for both the real estate and crypto industries.
Christie's did not respond to a request for further comment on the news.
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Yahoo
14 minutes ago
- Yahoo
Trump tariffs live updates: Trump hits India with additional 25% tariff as world awaits sweeping duties
President Trump on Wednesday signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he as accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. India's first 25% levy takes effect Thursday, part of scores of new duties that will see importers paying between 10% to 50% as they bring in goods from nearly 200 countries around the globe. Outside of India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. 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The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts that benefit Embraer (ERJ). The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US President threatened India with higher tariffs earlier this week, to which India's Prime Minister Narendra Modi said that it was "unjustified" and also called out the US for its double standard over Russia. 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New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US President threatened India with higher tariffs earlier this week, to which India's Prime Minister Narendra Modi said that it was "unjustified" and also called out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. 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Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. 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A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. 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Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. India hits back at Trump's tariff threat India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Sign in to access your portfolio
Yahoo
14 minutes ago
- Yahoo
Exclusive-Lula rejects 'humiliation' of calling Trump over US-Brazil tariff
By Brad Haynes and Lisandra Paraguassu BRASILIA (Reuters) -As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday, Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks with U.S. President Donald Trump which he believes would turn into a "humiliation" for him. Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House. "The day my intuition says Trump is ready to talk, I won't hesitate to call him," Lula said in an interview from his presidential residence in Brasilia. "But today my intuition says he doesn't want to talk. And I'm not going to humiliate myself." Despite Brazil's exports facing one of the highest tariffs imposed by Trump, the new U.S. trade barriers look unlikely to derail Latin America's largest economy, giving Lula more room to stand his ground against Trump than most Western leaders. Lula described U.S.-Brazil relations at a 200-year nadir after Trump tied the new tariff to his demand for an end to the prosecution of right-wing former President Jair Bolsonaro, who is standing trial for plotting to overturn the 2022 election. The president said Brazil's Supreme Court, which is hearing the case against Bolsonaro, "does not care what Trump says and it should not," adding that Bolsonaro should face another trial for provoking Trump's intervention, calling the right-wing former president a "traitor to the homeland." "We had already pardoned the U.S. intervention in the 1964 coup," said Lula, who got his political start as a union leader protesting against the military government that followed. "But this now is not a small intervention. It's the president of the United States thinking he can dictate rules for a sovereign country like Brazil. It's unacceptable." Lula said his ministers were struggling to open talks with U.S. peers, so his government was focused on domestic measures to cushion the economic blow of U.S. tariffs, while maintaining "fiscal responsibility." He also said he was planning to call leaders from the BRICS group of developing nations, starting with India and China, to discuss the possibility of a joint response to U.S. tariffs. Lula also described plans to create a new national policy for Brazil's strategic mineral resources, treating them as a matter of "national sovereignty" to break with a history of mining exports that added little value in Brazil. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
15 minutes ago
- USA Today
Phones, jewelry, linens: Which products could cost more due to Trump's India tariffs?
President Donald Trump announced the United States will impose an additional 25% tariff on Indian goods, bringing import levies on some items as high as 50%. The Wednesday, Aug. 6, order from the president comes less than a week after the first round of 25% tariff hikes were announced for the South Asian nation and significant U.S. trading partner. Trump cited New Delhi's continued imports of Russian oil as the reason behind this newest measure, sharply escalating tensions between the two countries after months of negotiations over a possible limited trade agreement fell through. The new tariffs on some Indian goods would be among the steepest faced by any U.S. trading partner. Trade analysts warned the tariffs could severely disrupt Indian exports, according to Reuters. The president's order says the additional 25% tariff will go into effect 21 days after the previously-announced 25% tariff, which was set to take hold Aug. 7. Trump announced the initial 25% tariff in a post on his social media app Truth Social on July 30, two days before a bevy of increased reciprocal tariffs went into effect for dozens of nations on Aug. 1. India, the world's fifth largest economy in 2024, relies significantly on the U.S., counting it as its top trading partner last year. Indian goods exported to the U.S. totaled $87 billion in 2024, according to the Office of the U.S. Trade Representative, with pharmaceuticals and jewelry among its top product types, followed by petrochemicals and textiles. Separately, services exports, mainly IT and professional services, were worth $33 billion last year. The U.S. is India's third-largest investor, and has a $45.7 billion trade deficit with the South Asian nation. Here are some of the products the U.S. relies on most from India, as previously reported by USA TODAY. Pharmaceuticals The U.S. accounts for nearly a third of India's pharmaceutical exports, mainly cheaper versions of popular drugs, Reuters reports, with sales jumping 16% to about $9 billion last fiscal year. Among the dozens of types of medications and supplies the U.S. imports from India, a few classifications make up a significant share. They are items like wadding, gauze and bandages; antineoplastic and immunosuppressive medications, including those used to treat cancers; and analgesics, antipyretics and nonhormonal anti-inflammatory agents, such as pain relievers and medications used to reduce fevers. Smartphones Though China and Vietnam were responsible for more than half of phones sent to the U.S. last year, India also produces a significant share, and looks to be gaining a firmer foothold in the market. According to a new report, India has overtaken China in the last few months as the top exporter of smartphones to the U.S., following Apple's pivot to center manufacturing in New Delhi amid tariff concerns. The share of U.S. smartphone shipments assembled in China fell from 61% to 25% over the past year, the research firm Canalys said, with India picking up most of the decline and increasing its smartphone volume by 240% roughly within the same time frame. More: Trump's trade talks intensify with tariff deadline fast approaching Jewelry and precious stones Next to pharmaceuticals, jewelry and precious stones are among India's top products exported to American consumers. About 30% of India's gems and jewelry exports go to the U.S., accounting for about $10 billion in annual trade, said Kirit Bhansali, chairman of the Gem and Jewellery Export Promotion Council of India, per Reuters. These goods include unmounted or unset diamonds, precious metal jewelry and jewelry clad with precious metal − such as pieces plated with gold or silver. Home linens India is among the top countries responsible for imported home linens in the U.S., representing 36% of nearly $6 billion in imports, according to a New York Times analysis of government data. These products include bathroom and kitchen linen made of terrycloth or cotton, along with bed and table linens. India is also a leader in some types of imported clothing, such as activewear, shirts, baby clothes and suits. According to the Yale Budget Lab, the tariff hikes so far have disproportionately affected clothing and textiles, with consumers facing up to 39% higher shoe prices and 37% higher apparel prices in the short run. Other products The U.S. also relies on Indian imports of frozen shrimp and prawns, petroleum oils such as transformer oil and motor fuel, semiconductor technologies like solar panels and certain types of electrical machinery and parts. Contributing: Reuters; Joey Garrison, USA TODAY. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr.
