The hidden financial risk when sponsors pull out
Dive into the dollars, decisions, and deeper meaning behind World Pride DC 2025 with Ryan Bos, executive director of Capital Pride Alliance. From glitter-filled celebrations to seven-figure budgets, we'll break down what it really takes to organize one of the largest LGBTQ+ events in the world. Through the lens of Pride, protest, and personal finance, this episode of Living Not So Fabulously blends activism with accountability, reminding us that visibility is powerful, but budgeting for that visibility also matters. Ryan Bos also offers real world advice for queer professionals trying to build wealth and stability while staying true to their values
For full episodes of Living Not So Fabulously, listen on your favorite podcast platform or watch on our website.
Yahoo Finance's Living Not So Fabulously is produced by Dennis Golin.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Acting CFTC Chair Caroline Pham on crypto regulation: There is no easy street for anybody
One core plank of the crypto bull thesis is that regulation will be lax under the Trump administration. While that may prove true relative to Biden's White House, crypto faithfuls shouldn't think regulators will be pushovers and allow the market to run amok with suspect products. "There is no easy street for anybody, and regulators aren't easy. So just because we are pro-innovation and pro-growth does not mean that you're going to be able to get away with breaking the law," acting Commodity Futures Trading Commission chair Caroline Pham told Yahoo Finance at the Coinbase (COIN) Annual Summit on Thursday (watch above). "And this is where I'm talking about not twisting the law to criminalize an asset class or a technology, but I'm talking about lying, cheating, and stealing." Pham was designated acting CFTC chair on Jan. 20, 2025. She was sworn in as a CFTC commissioner on April 14, 2022. The CTFC is a small but powerful agency that oversees the multitrillion-dollar derivatives market. Derivatives help businesses hedge against price swings in everything from coffee to foreign currency. Congress could be close to passing legislation to regulate the crypto market. The CFTC stands to oversee the spot markets for bitcoin and other digital assets that don't qualify as securities. The CFTC has also aimed to prevent the proliferation of betting markets. Companies such as Robinhood (HOOD) and Kalshi continue to look to these markets — which allow for wagers on things like presidential elections and sports —as a future growth mechanism. This deregulatory evolution of the CFTC may fall on the doorstep of a16z crypto policy head Brian Quintenz. Pham and commissioner Kristin Johnson have both announced plans to depart the CFTC, potentially leaving Quintenz as the sole commissioner for a time if he receives Senate approval. "He's had a very clear record as a commissioner that speaks for itself, and I'm looking forward to it," said Pham, who was previously a managing director at Citi. She added that she hasn't yet decided on her next career steps. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
Yahoo
31 minutes ago
- Yahoo
Bitcoin will have to become reserve currency some day: Coinbase CEO
Coinbase Global (COIN) CEO Brian Armstrong joins Yahoo Finance executive editor Brian Sozzi at the cryptocurrency exchange's State of Crypto Summit in New York City for an in-depth conversation about the prospects of bitcoin (BTC-USD) becoming a reserve currency as tariffs and Congress' spending bill weigh on the US dollar (DX=F, the platform's latest Coinbase Business product for aiding startups in managing their money and payments, and the chief executive's thoughts on stablecoin issuer Circle Internet Group (CRCL) after its IPO debut last week. Also catch Brian Sozzi's full interview with Acting Commodity Futures Trading Commission (CFTC) Chairman Caroline Pham. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Here with Brian Armstrong at the Coinbase Summit, Brian, good to see you here. You dropped some new products, but there was something you said on stage that caught my attention. You said that Bitcoin could become the world's reserve currency because of the US debt situation, which is ballooning. How realistic is that? Well, it really is unclear at this point, but one thing that is clear is that democracies around the world are having trouble getting deficit spending under control. And you know, that can only, if you study history, right, the changing world order, different empires, like who had the reserve currency different moments in time, once you decouple currency from hard commodities, the inevitable story is they get overprinted and extend, right? And so I think right now, I, to be clear, you know, I want the US to remain the reserve currency status. I think a strong America is very important for the world, and I think cryptocurrency is helping the dollar enormously with things like USDC and stable coins. But if the debt situation doesn't get fixed, I do think that eventually Bitcoin will have to become the reserve currency, for better or worse. It's not going to be the Chinese RMB because I think they have their own debt problems, and it's not a coincidence that as we're seeing all-time highs in US debt, we're seeing all-time highs in Bitcoin. We had a great chart in there too in your presentation, but what is the, what's the tipping point for that to happen? When debt hits a certain level, suddenly we have to worry about the world reserve currency being the US dollar? Yeah, I mean there's not usually, it's like one of these things like the frog is slowly cooked and you know, I think if you look at other countries in the past, it was maybe around 150% or 200% debt to GDP, things started to get a little wonky. And so we're going to have to see what happens. I hope that the Congress, which is doing an amazing job by the way and on passing legislation in a bipartisan way for crypto, and this administration, the Trump administration, has been an incredible tailwind for crypto. They've done an incredible job. So, you know, I think there's a lot to be grateful for, but if I hope that, you know, the US government can get the spending under control to preserve this American experiment. Do you agree with with Elon that this tax bill that might pass, that could be the triggering point, that's the triggering point for potential economic crisis? You know, I'm not, so I'm reading both sides on this and I don't, I don't know enough to say for sure to be honest with you, you're a little, you're asking questions a little above my pay grade, but I think, you know, this bill, it doesn't have the full ability to touch on discretionary spending, there may need to be a follow-on bill to that. I hope that they're working on that and make the best they can of this bill, maybe there needs to be separate legislation to to cut spending elsewhere, I don't know. What would a, what would a Bitcoin reserve currency mean to a company like Coinbase? Well, it would certainly mean increased adoption of Bitcoin, right? I think that our goal is to power more and more of people's financial lives with Coinbase products and we started in trading, now we're moving into all kinds of financial services like payments and borrowing and lending. And eventually, I think crypto and Coinbase can be a replacement for people's bank account, right? I think that more and more of their financial life will happen on chain with Coinbase, and it'll being bring new benefits and services to customers. Like why shouldn't you earn four and a half percent on your checking account, right? Or why can't you send money instantly anywhere in the world for free? Or, you know, why can't you do, if you if you live in Turkey or Nigeria, why can't you trade US equities 24/7 with perpetual futures, right? It's logical, right? Yeah, I mean there, there's, sometimes there's artificial barriers and middlemen taking fees and like that's what crypto is all about, it's about updating the financial system, bringing freedom and individual sovereignty to people all over the world. I was reading some research on crypto from the JP Morgan team and they said the retail investor is looking for the next catalyst in Bitcoin. It made sense because it's been a pretty big year, we've had the Bitcoin reserve, we have companies like yours putting out new products. But is the next catalyst for retail investors, that rising debt that you're talking about. As this continue to go, continues to go up, why wouldn't you want to own Bitcoin? Yeah, I do think the average person in America, even if they don't quite understand, you know, interest rates and the yield curve, they understand that their money is worth less than it was five years ago, and they feel that something is inherently untrustworthy or broken about that. And so I do think they are looking for alternatives, and Bitcoin is probably the best answer, and it's that's why we're seeing all-time highs in Bitcoin prices. Take us through some of the products you dropped today because there was a series of them and I came away thinking the next reinvention of Coinbase is underway. Yeah. Well, for a long time we've been serving large financial institutions, you know, BlackRock, Stripe, PayPal, and, you know, large companies. But today we announced a product for startups and medium-sized businesses called Coinbase Business. It lets them manage a lot of their financial life, and we introduced a powerful set of payment APIs that allow them to pay vendors, contractors, even receive payments from their customers as revenue, and do all the accounting and tax treatment and everything in their Coinbase business account. So for a lot of startups, managing money and payments is a huge pain, it's expensive. Eventually capital formation, all kinds of things will come on chain, but we're starting with that Coinbase business account today, and those, that suite of payment APIs. Coinbase is coming into payments in a big way. We also on the consumer spending side, you know, we announced a partnership with with Shopify to power USDC payments for Shopify merchants, and we announced an Amex Bitcoin card, right? So it just shows that crypto is upending all aspects of the financial system, and Coinbase is shipping product at a startup pace. Do you want to take the fight to credit card issuers? Is that the next frontier? Not that directly. I think that they play an important role in terms of the products that they provide around the world, and in fact, you know, we just launched a credit card with with Amex, we have a debit card with Visa, so we're partners with them. But I do think over time crypto is going to cause the people to question the margins, right? And there's a whole ecosystem that's built there with lots of middlemen and lots of fees. If that can be done cheaper for the average customer and the average merchant, I think that the credit cards are looking closely about what is their stable coin strategy, and I think the smart ones, the big ones, will be participants in that, not left behind. Brian, you started this day around a little after 10 o'clock on stage with Jeremy Allaire, of course CEO of Circle. That company's off a really big debut. Are you still an investor in Circle? We are an equity holder in Circle, yep. And we're the largest distribution partner for USDC, and so we have an economic agreement with them that is perpetually renewable, yeah. How, how intertwined, how intertwined are you with Circle? Well, right now they're the issuer of USDC, we're a distribution partner. But our economic arrangement with them is substantial. I actually, I mean I think that the market may not be fully valuing that in Coinbase's stock at the moment. But yeah, we're, I think the big picture, it'll all work out, and we're excited about our partnership with them for the long term. Both Circle and Coinbase, we're going to be trying to get more USDC adoption, and right now every bank and Fintech company and Fortune 500 is like a new announcement every day, someone's thinking like how do we add these to make our business more efficient. Would you ever want to put an offer into buy Circle? I mean, you're already so intertwined. We would always consider it, but you know, obviously takes two people to have something like that happen, and you know, they're, I mean they're crushing it in the public markets, right? So it's something we'd always consider if they were interested, but I think for now it's going really well. Since I last saw you, Brian, it was Davos, we were sweating, or we were freezing our butts off out in the, out in the mountains. But you were added to the S&P 500. Big moment I imagine for you and your company and your employees. How has that changed your investor base? Well, I think it's, it's made our stock less volatile, you know, for better or worse, when we went public, we had, we had a large retail interest, we had some hedge funds, we had also some really great long-term holders of our stock, like Fidelity and others. But I think that with the S&P 500 index inclusion, it's kind of, I don't know if it'll create like a floor on the price literally, but I think it'll have less volatility because something like 50% of all investment dollars are passively invested at this point, and they're the largest index. So we're very happy to see that happen. It's also just a great moment for crypto in terms of increased legitimacy. I was talking earlier with Carolyn Pham, acting CFTC chair, outgoing but still, she has that position. She made a good point that investors, bullish investors in crypto, need to remember there will be regulation, and not, there is no, there are no free rides. Yeah. What would you tell the bullish investors on that front? Well, I think regulation will be a huge boon for crypto. So I very much, I mean we're actively working all over DC, our policy team, and with this administration to try to get legislation passed. I mean, we think that that's how we expand the TAM of crypto, and frankly that's why a lot of people are now coming into crypto because they're seeing the regulatory clarity is on the horizon. So my biggest thing at this point is we need to stick the landing and actually get the Stable Coin Act, the Genius Act, we need to get that passed into law, and also the Clarity Act that's going through the House on market structure, we need to get that into law as well. And so the president has said that he wants both those bills into law by the August recess, and, you know, we really appreciate his leadership on that. All right, we appreciate you having us here at the conference, Brian Armstrong, always nice to see you. We'll talk to you soon. Thank you. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
33 minutes ago
- Yahoo
Jobless claims data, broadening stock gains: Market Takeaways
US stocks (^DJI, ^IXIC, ^GSPC) closed Thursday's session in positive territory after the latest inflation data and President Trump announcing plans for unilateral tariffs against trade partners. Yahoo Finance senior markets reporter Josh Schafer examines several of the prominent market themes in the trading day, including this week's initial jobless claims and the broadening of the market's outperformance across sectors. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Rally in Oracle lifts big tech sector on investors digest easing inflation pressures. Here with more on the trading day takeaways. We got Yahoo Finance's Josh Shafer, Josh. Hey Josh, yeah, we had the S&P 500 closing at its highest level since February 20th today. That was just one day after we had our last record high on February 19th. So we're getting close, but I want to highlight some economic data from this morning because this was pretty interesting. We've been watching this weekly claims data for a while now, right? This is kind of the number one thing, weekly unemployment claims, that when we ask economists on air Josh, what are you worried about? What are you watching? How do we know if that slowdown's coming? They always talk about claims, right? And this is part of the claims data set, but a little bit different. So this isn't initial jobless claims. This is continuing jobless claims. So people that can't continuously or not finding a new job, right? You saw that move up to its highest level since November 2021 over 1.9 million claims. Essentially, what this is telling us is a story we've been talking about a lot of course, it's taking longer for people to find jobs right now. Hiring is slowing overall broadly in the labor market. And so right now, if you are out of a job, people are taking a little bit longer to find and find one. If you look at this labor market data, Josh, and you know, against long-term averages, would you look at that data and say, okay, there's there's this data is screaming for J. Powell and our central bankers to cut. It's certainly not screaming, right? And you've seen claims higher than this before and higher than this when the economy was maybe okay. What the issue is is sort of the rate of change story, right? We're starting to move higher. And so Renaissance Macro's head of economics, Neil Neil Dullo was pointing out as you start to move higher, what normally comes with that, a higher unemployment rate, right? And so if you if claims keep moving up, then you're worried about that unemployment rate going up, you're worried about the overall health of the labor market. So it's just something that right now it's kind of I'll I'll go yellow sign, right? It's a little bit of a yellow flag, we're not at red flag status here, red light panic, but it's certainly something that we're going to keep following. All right, Shafer, number two. Yeah, so this is something I'm writing about for our morning brief newsletter tomorrow, Josh. Just the overall broadening that we've seen in the market this year. We're almost six months into 2025. Take a look at this chart from Richard Bernstein at Richard Bernstein Advisors. What we're looking at is the percent of stocks in the S&P 500 that are outperforming the index. You can see the last two years when we kept on talking about mag 7, mag 7, all not a lot of stocks were beating the market. Only 30% of stocks were. Well, this year, big move up. You're at about 45% as of earlier this morning when I was checking the data. But what this is sort of telling us is broadly in the market, there's just more going on. There's more things working. Let me show you the sector action for the year, Josh. You have seven of the 11 S&P 500 sectors outperforming your 2.8%. So this market is certainly becoming a lot more than just tech and big tech. And when you talk to Mr. Bernstein, well-known, well-respected, obviously, what did he tell you he was buying? Yeah, so it's interesting. So he he had a research note out, which is initially why I reached out to him, called the mid seven. Not a big mag seven fan right now, Josh. So he's not looking at things like tech. He's looking more at a sector like utilities, one of the best performers in the S&P 500. Interesting because you and I have talked to strategist that will tell you utilities because it's an AI play, right? AI that's involved in the power. Bernstein likes utilities because it has a little bit of defensive stance to it, and they have high dividends, right? Those companies that are able to just continuously produce cash and give back to investors is something he's sort of interested in right now. Not necessarily traditional growth companies like those companies in the tech. Yeah, we we've had smart folks who like that sector because to your point, Josh, they they actually see it sort of a way to play offense and defense. Yeah, it's a football player that can do it all, right? Utilities. There you go. Thank you, Josh. 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
