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David Sacks, the Trump administration’s AI and crypto czar, sold over $200 million worth of digital asset-related investments personally and through his firm, Craft Ventures, before starting the job, according to a memo from the White House.Of the the assets sold, the documents said that at least $85 million “is directly attributable to Sacks.” The memo, from White House counsel David Warrington, added that Craft remains an investor in some other funds that have digital assets in their portfolios.The disclosure, dated March 5, is 11 pages long, compared with the two-page document from Robert F. Kennedy Jr., the newly installed secretary of…

In mid-February, President Trump spoke at an investment conference and offered a prediction. “We’re on the verge of soaring markets,” he told the crowd in Miami that evening. “I think the stock market is going to be great.” Unfortunately for him and for investors, it turned out to be tough timing. That Feb. 19 speech ended up taking place during the peak of the recent market, with the S&P 500 (^GSPC) then beginning a now weeks-long decline. And the selling hasn’t abated. Markets are now firmly in correction territory with prices down over 10% this week from the levels on…

Crypto asset manager 21Shares is set to liquidate two actively managed exchange-traded funds (ETFs) tied to bitcoin and ether futures amid a wider market downturn. The funds slated for liquidation are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Investors can trade shares until the market closes on March 27, with liquidation expected to take place “on or around March 28,” according to a press release. The actively managed ETFs, which have an expense ratio of 1% and 0.93%, respectively, are set to be liquidated as U.S.-listed spot bitcoin…

‘LUMINARA’, the PSL’s 10th edition’s trophy.—courtesy PCB LAHORE: The Pakistan Super League (PSL) is hoping to expand from six to eight teams after the 2025 season, PSL CEO Salman Naseer said on Thursday. First staged in 2016 in the United Arab Emirates due to security concerns, the PSL is now hosted in Pakistan, where it aims to strengthen its commercial appeal and competitiveness. The planned expansion comes at a key commercial juncture for the PSL, with media and sponsorship rights going up for sale. PSL 2026 will also embrace new cities with Peshawar set to host its first exhibition game,…

CNN  —  Inflation slowed more than expected in February and cooled for the first time in five months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans. The Consumer Price Index, which measures price changes across commonly purchased goods and services, was 2.8% for the 12 months ended in February, a cooldown from the 3% annual rate notched in January, according to data from the Bureau of Labor Statistics released Wednesday. On a monthly basis, prices rose 0.2%, versus 0.5% in January. Economists were expecting inflation…

LA MALBAIE, Canada — Secretary of State Marco Rubio denied the U.S. was in a trade war Friday as he wrapped up his trip to a meeting of top diplomats from the Group of 7 industrialized democracies.“There’s not a trade war,” Rubio said. “The United States is resetting its trade relations globally to a level of equilibrium, to a level of reciprocity.”That comment was in direct conflict with Mélanie Joly, Canada’s foreign minister, who just hours earlier told reporters that the Trump administration “was engaging in a trade war against Canada” and European countries. On Thursday, President Donald Trump threatened…

(Bloomberg) — Corporate debt’s halcyon days are showing signs of fading, with trade wars damping what had been a relentless demand for credit. Most Read from Bloomberg “Cracks that appeared in the credit market last week culminated into a fracture this week,” Bank of America Corp. strategist Neha Khoda wrote in a note, adding that markets are now pricing in a recession. Tariffs are expected to dent the growth of the world economy and fears are growing that the policies will lead to stagflation in the US. Junk spreads there widened by the most in six months this past week,…

LAHORE: The ICC Wo­men’s World Cup Qual­ifier, featuring six teams including hosts Paki­stan, is set to be held here at the Gaddafi Stadium and the LCCA ground April 9-19, the International Cricket Co­u­ncil announced on Friday. The sixth edition of the Qualifier sees teams from Bangladesh, Ireland, Pak­istan and the West Indies compete with Scotland and Thailand in the 15-match league tournament that will decide the two qualifiers for the 2025 Women’s World Cup to be held later this year in India. Pakistan take on Ireland at the Gaddafi Stadium wh­ile the West Indies play Scotland at the Lahore City…

Washington CNN  —  Larry Fink, chief executive of BlackRock, the world’s largest asset manager, said Wednesday that the Trump administration’s barrage of policy changes is paralyzing American consumers and businesses — and that’s already hurting the economy. “The collective impact in the short run is that people are pausing, they’re pulling back,” Fink told CNN’s Kayla Tausche in an exclusive interview. “Talking to CEOs throughout the economy, I hear that the economy is weakening as we speak.” President Donald Trump on Wednesday forged ahead with his aggressive tariff agenda, imposing 25% duties on all steel and aluminum imports — which…

WASHINGTON, DC – OCTOBER 24: As the government lays of workers, what is the unemployment impact … [+] likely to be? (Photo by Win McNamee/Getty Images)Getty Images Job cuts are a little over 172,000 for February, according to the Challenger Report, which tracks announced layoffs. Government job losses are a about a third of the total. That’s the highest overall level of layoffs for February since the financial crisis in 2009, though job losses in January were more typical. Overall, February tracked job cuts are estimated to be double the prior year. Within that are 62,000 government layoffs. Government layoffs…