Morning Business Report: Trump has announced the creation of a “Crypto Reserve”
Trump Announces ‘Crypto Reserve’ Ahead of White House Summit
(LILAMAX)- President Donald Trump has announced the creation of a “Crypto Reserve,” marking the first formal step toward the crypto stockpile he proposed during his campaign. The key debate now centers on which cryptocurrencies will be included, with Bitcoin leading discussions. Trump will host the first-ever White House Crypto Summit on Friday, where industry leaders and policymakers are expected to weigh in.
Microsoft is set to retire Skype in May, shifting its focus to Microsoft Teams, the company’s flagship video conferencing platform. Microsoft, which acquired Skype for $8.5 billion in 2011, confirmed that users will still be able to log into Teams using their existing accounts. The move signals a shift in Microsoft’s strategy as it consolidates its communication services.
A planned “economic blackout” on Friday—a consumer boycott aimed at companies reducing their Diversity, Equity, and Inclusion (DEI) initiatives—appears to have had little to no effect on the targeted businesses. According to market research firm Circana, data from shopping malls, retail outlets, and executives suggest that the blackout’s impact “wasn’t visible.”
Investment firm BlackRock is urging lawmakers to take action on what it calls an “impending crisis” in retirement funding. Chairman and CEO Larry Fink stated, “Fewer than one in three Americans believe they have the tools they need to save for retirement.” BlackRock has called for a summit next week to explore policy solutions to help Americans secure their financial futures.
Amid a slowdown in white-collar hiring, high schools are investing millions to upgrade shop classes as demand for skilled trades surges. A high school campus in Madison, Wisconsin, recently completed a $90 million overhaul of its hands-on skills curriculum. According to The Wall Street Journal, demand for welding, HVAC, carpentry, and other skilled trades is at an all-time high, as students seek alternatives to the rising cost of college.
