CNBC's Sara Eisen and Carl Quintanilla break down the latest news in the crypto space.

The U.S. Securities and Exchange Commission (SEC) has announced updated regulatory initiatives targeting the cryptocurrency sector. These proposals are designed to offer greater certainty to the market, with a focus on establishing clear rules for the issuance, custody, and trading of crypto assets. SEC Chair Paul Atkins emphasized that regulatory clarity is a key priority during his tenure.

Meanwhile, broader financial markets saw mixed performance, with technology stocks such as NVIDIA, Microsoft, and Amazon experiencing declines. The Nasdaq index turned negative, and NVIDIA in particular has seen a notable drop over recent sessions.

SEC reveals revamped crypto regulatory proposals

Welcome back to Squawk on the Street. Bitcoin on pace for gains this week, along with stocks, holding above $110,000 a coin. The SEC unveiling its revamped regulatory initiatives for the space, including new potential rules around the offer and sale of crypto assets to quote, provide greater certainty to the market. SEC Chair Paul Atkins stressing that a key priority of his chairmanship is clear rules of the road for the issuance, custody and trading of crypto assets. Stocks, though, just looking right now, Carl, we've taken a leg lower. We started off higher. It looks like there's still some strength in real estate, consumer discretionary communication services, but some of the laggards, now technology, with the Nasdaq going negative, NVIDIA, Microsoft, AMD, Palantir, Amazon, all weaker here on this session. Not sure if there was a catalyst. The first reaction to a weak jobs number was to celebrate the rate cuts that were coming. Maybe there's a bit of a rethink on that. Yeah, it's hard to escape the the drag net of NVIDIA down more than 3 percent, almost 4 percent. And that's a name that's down six of seven days. I think it's off 14 percent from the highs. So we'll keep an eye on that. NVIDIA hasn't really spent this much time below the 50 day since April or so.

The White House said the U.S. is sending 10 F-35 fighter jets to Puerto Rico. It comes as the Defense Department confirmed that two armed Venezuelan F-16 fighter jets flew over a U.S. Navy ship in the region on Thursday.

Washington

U.S. to send F-35 fighter jets to Puerto Rico amid Venezuela tensions

President Trump signed an executive order to start the process of renaming the Department of Defense to the Department of War, restoring a name the agency last held in the late 1940s.

Trump orders Defense Department be renamed as Department of War

Xi and Kim, along with top officials from their countries, met on Thursday at Beijing’s Great Hall of the People a day after Kim attended a Chinese military parade alongside other foreign leaders including Russian President Vladimir Putin.

Beijing

China’s Xi and North Korea’s Kim meet in Beijing, pledge deeper ties

Two Venezuelan fighter jets flew over the USS Jason Dunham, multiple Defense Department officials confirm, calling the action a "show of force." CBS News' Willie James Inman and Charlie D'Agata report.

Caracas

Two Venezuelan fighter jets fly over U.S. Navy ship, officials confirm

A massive Immigration and Customs Enforcement raid at a Hyundai manufacturing site in Georgia led to hundreds of immigrants being detained for apparently living and working in the U.S. illegally.

Savannah

Massive ICE raid at Hyundai site leaves 475 detained in Georgia

Israel targeted a high-rise building in Gaza City, the military said in a statement. As the world braces for Israel's major military operation to seize Gaza's largest city, Hamas released a video purportedly showing two hostages, including one calling on Israel not to carry out its planned Gaza City offensive.

Jerusalem

Middle East Conflict

Israel strikes Gaza City high-rise building, Hamas releases another hostage video

US Secretary of State Marco Rubio is wrapping up a two-day trip to Latin America. It comes as the countries in the region watch the Trump administration step up military activity in the area, to combat drug trafficking and illegal migration.

Quito

U.S. mulls military base in Ecuador

A powerful aftershock struck eastern Afghanistan late on Thursday night. More than 2,200 people have already died the quake. Rescue crews are still searching remote villages, but rescue efforts are hampered by rough terrain and aftershocks. The World Food Programme says food stocks are running low and could be exhausted within weeks.

Kabul

Afghanistan quake death toll passes 2200 as food supplies run low

What happens in Ukraine once the war with Russia is over? France tells President Volodymyr Zelenskyy that 26 nations are now ready to offer security guarantees, including the possible deployment of foreign troops as part of a post-war peace arrangement.

Paris

Ukraine Invasion

Ukraine's European allies agree security guarantees

CEOs from some of the nation's biggest tech companies sat down for a dinner with President Trump on Thursday. Among those present were Tim Cook, Sam Altman, Bill Gates and Mark Zuckerberg.

Trump hosts Mark Zuckerberg, Bill Gates and other tech CEOs

U.S. President Donald Trump had a call with Ukrainian President Volodymyr Zelenskyy and other European leaders Thursday about Russia's war in Ukraine. CBS News White House reporter Olivia Rinaldi has more.

Trump speaks with Zelenskyy, pushes Europe to stop buying Russian oil

"With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani," the fashion house said in a statement on Thursday.

Milan

'King' of Italian fashion Giorgio Armani dies at 91

A federal judge on Wednesday ruled that U.S. President Donald Trump's administration unlawfully terminated about $2.2 billion in grants awarded to Harvard University and can no longer cut off research funding to the prestigious Ivy League school.

Cambridge

Trump admin unlawfully cut Harvard's funding, U.S. judge rules

Russian President Vladimir Putin has delivered a statement after meeting leaders on the sidelines of the military event in Beijing. He spoke about Russian security interests, and the Ukraine war.

Moscow

Putin wraps China visit with gas deal, calls for Ukraine peace talks

Hope is fading of finding survivors in the rubble of homes devastated by a powerful earthquake in eastern Afghanistan over the weekend that killed more than 1,400 people, as emergency services struggle to reach remote villages.

Kunar

Hope fades for finding survivors after Afghan quake kills over 1400

Portuguese authorities say at least 15 people died after a streetcar derailed and crashed in the capital of Lisbon. CBS News senior foreign correspondent Imtiaz Tyab has the latest.

Lisbon

Iconic streetcar in Portugal's Lisbon derails, 15 killed

Democratic Rep. Ro Khanna, along with Republican Reps. Thomas Massie and Marjorie Taylor Greene, held a news conference on Wednesday with survivors of Jeffrey Epstein and Ghislaine Maxwell's sexual abuse. CBS News' Caitlin Huey-Burns has more details.

Epstein survivors add voices to calls for transparency

Israel's central intelligence agency, Shin Bet, said that it thwarted an assassination plot by Hamas against the country's right-wing minister of national security, Itamar Ben-Gvir, Reuters reports.

Tel Aviv-Yafo

Israel reportedly thwarted plot to assassinate right-wing minister

In California on Tuesday, a jury took less than an hour to clear Cardi B of assault allegations made in a $24 million civil lawsuit. A security guard claimed the rap star attacked her in 2018.

Los Angeles

Cardi B wins civil case against security guard

Secretary of State Marco Rubio said on Tuesday that the U.S. military struck a boat apparently carrying drugs from Venezuela. CBS News' Charlie D'Agata has the latest details.

Trump says U.S. struck drug-carrying boat from Venezuela

China's Xi Jinping welcomed Russian President Vladimir Putin and North Korea's Kim Jong Un, along with other world leaders, for a huge military parade showing off new technology.

Vladimir Putin, Kim Jong Un attend China's massive military parade

A Republican-led U.S. House of Representatives committee said it released more than 33,000 pages of files on the disgraced financier and convicted sex offender Jeffrey Epstein, as party leadership looked to end a push by a bipartisan pair of lawmakers to force a vote on the matter.

U.S. House committee releases thousands of Epstein files

French Prime Minister Francois Bayrou last week called for parliament to hold an earlier-than-expected vote of confidence in him. Next week’s ballot could lead to the collapse of his centrist government and prompt a period of further instability in the European Union’s second biggest economy.

France’s PM faces crucial confidence vote amid political turmoil

Tens of thousands of reservists began to report for duty on Tuesday for a new Israeli offensive to seize Gaza City, which Prime Minister Benjamin Netanyahu wants to accelerate despite warnings from senior ranks.

Israel calls up reservists as military chief clashes with ministers

The House Oversight Committee on Tuesday released over 33,000 pages of documents related to sex offender Jeffrey Epstein.

33,000 pages of Jeffrey Epstein documents released by House panel

Belgium joins the ranks of Australia, France, Canada and the UK, all who have pledged to recognize a Palestinian state at the UNGA next week in a bid to ramp up pressure on the Israeli government to end the war in Gaza.

Brussels

Belgium to recognize Palestine at the UN General Assembly

A powerful 6.0 magnitude earthquake in eastern Afghanistan killed at least 1,400 people, according to the Afghan Red Crescent Society. Thousands more were  injured.

At least 1,400 killed in powerful Afghanistan earthquake

The death toll from Afghanistan's worst earthquake in years jumped to over 1,100 with thousands more injured, as difficult terrain hindered rescue efforts in isolated villages of the country's mountainous eastern region.

Breakdown