Joe Sticco and Julia Cartwright join to discuss President Trump signing the crypto bill into law, Trump Media's big Bitcoin purchase, and more.

Washington

Trump Media has reportedly acquired $2 billion worth of bitcoin, following a trend among corporations to add digital assets to their balance sheets. This move aligns with broader industry efforts to integrate cryptocurrencies into traditional finance, supported by recent regulatory developments in the United States.

Experts discussed the implications of this acquisition, noting that new legislation such as the GENIUS Act and the Clarity Act are expected to provide greater regulatory guardrails for the crypto market. These changes aim to reduce volatility and increase security, potentially encouraging more institutional investment in digital assets like bitcoin and stablecoins.

Trump Media buys $2 billion in Bitcoin

Joining us now to discuss that and more is the founder of Cryptex, Joe Sticco, and senior economist with the American Institute for Economic Research, Julia Cartwright. Welcome. Good morning. Good morning. It is a good morning. So Joe, shares of Trump media spiked off the news. So in layman's terms, what does this stockpile actually mean? So essentially the president is building up a stockpile of Bitcoin, as well as other companies that are doing the same thing. They're accumulating Bitcoin for their balance sheet to essentially bring the asset to corporate shareholders. And this is something that we expect to continue with other digital assets. So you're going to have the president now, Trump media is acquiring Bitcoin, several other entities are acquiring Bitcoin. And eventually this is going to flow into other assets as these companies continue to build their war chests of digital assets on the blockchain and grow their opportunities for shareholders. Yeah, I got my little, little sliver of crypto that I'm trying to actually stockpile myself. Yeah. I appreciate that disclosure, John. And I mean, if you even have a little sliver, crypto has been rallying, Bitcoin is over 119,000. But Julia, I want to get into the risks and rewards of cryptocurrencies, which have become more intertwined with the financial system. Industry heavyweights are racing for a long sought goal of turning real world assets into digital tokens. So why are they looking for this tokenization? And for our viewers to break it down, what does that even mean this way? We're all on the same page here. So one thing about riskiness that just got passed last week is regulations surrounding the crypto space. So the House just passed its version of the Genius Act, which puts this in a position to compete much more firmly with traditional finance. Also the Clarity Act provides guardrails for the system as well. And that is going to the Senate, which will hopefully be voted on in September. So as much volatility as is associated with crypto, it's going to become a lot more secure and less volatile with this new regulation that's being passed. Interesting. Well, for those of you out there that don't understand crypto, just know we are talking about some serious money here. The latest example, startup BitGo. Joining the crypto IPO rush just yesterday as the crypto sectors climbed to a $4 trillion market value. That's huge. And it's reignited some interest in IPO offerings. So what's your take on this, Joe? I mean, it seems like this is going to actually start more people rushing to the market to get capital to be that, let's say, top one, two, three choice among consumers as well as institutional investors. Absolutely. I think that this is just the beginning. I think that the markets are going to boom over the next several quarters. And as different assets come into the picture, you know, like for us, for Cryptex, we're building like an index of like digital assets, essentially the S&P 500 of crypto, where it's multiple assets that can be acquired by an institution or a bank. And with the passing of the GENIUS Act and all of these new regulations that are coming, you know, we were just at the White House, we had a chance to watch the signing of the GENIUS Act. And I think what the president and his team are doing are opening up the digital assets space to every institution, bank in the country. So now you're going to see multiple new offerings. You're going to see multiple ETFs, ETPs and all different things that continue to build this industry. Yeah. So speaking of the GENIUS Act, let's hear from President Trump and his take on the importance of it. Very important act, the GENIUS Act. They named it after me. And I want to thank you. I want to thank you. Come a long way since the Biden administration, when they had no idea what you were all talking about. And half of you are under arrest for no reason whatsoever. So, Julia, as you were talking about, the GENIUS Act really allows for more regulation and ban yields or interest payments on regulated stable coins. So does he have reason for optimism here? And again, we're giving a bit of a primer on crypto in this segment. If you could explain stable coins and their importance. Julia. Definitely. The legislation really paints some regulatory guardrails for the entire ecosystem, which is what the industry is desperately needing and has desperately wanted for years now. And this is really important for the U.S. economy because it allows many people abroad to hold U.S.-backed stable coin. Over 98 percent of stable coins are backed in the U.S. dollar, which strengthens our position in the world as the reserve currency and really puts the American economy on a solid footing. Stable coins, what they are, is digital assets that are pegged to typically a fiat currency, the majority of which are pegged to the U.S. dollar and backed by Treasury bills. So not only is this going to strengthen our currency, it's also going to put us in a better position and increase our demand for debt as well. You know, Joe, there might be some people that that may be hesitant out there and they might have some good cause. When you look, I'm old enough to remember the dotcom bubble, something brand new, seemed like it was the wave of the future. And some of those investments paid off. But then again, it was a bubble and a lot of people lost money. So people remember the stock market ups and downs. Why is cryptocurrency different, in your view, in terms of its long term sustainability? Well, I think if you look at Bitcoin in the sense of it being digital gold and something like Ethereum being the world computer or app store, these are going to be like the gold and oil of the digital age. And they're definitely going to have a little bit more of a safety net than some of the other more speculative cryptocurrencies that are out there, the same way that certain stocks have more blue chip relativity to more speculative assets. So I think that at the end of the day, you approach it like anything else. You stick with your gold and your oil and your more safer blue chips. And then if you want to diversify a little bit more down the line into things that are more speculative, you can do that. I would just do that with the understanding that, like everything else, there are no guarantees. Things are speculative in nature, but sometimes that's where the biggest opportunity lies and just approach it with investing what you're comfortable in risking and just doing the best that you can. That's great advice, diversification. Can't go wrong there. Joe Sticco and Julia Cartwright, thank you so much for joining us. Thank you. Thank you.

The U.S. Olympic & Paralympic Committee changed its eligibility rules on Monday, effectively barring transgender women from competing in Olympic women's sports. CBS News correspondent Elise Preston has more.

USOPC effectively bars transgender women from women’s sports

President Donald Trump says he's reached a trade deal with Japan that will set tariffs on Japanese imports at 15% and see Japan invest $550 billion into the U.S.

Global Tariffs

Trump says he's reached trade deal with Japan

Photos from Trump’s 1993 wedding and video footage from 1999 Victoria’s Secret fashion show shed light on the Trump-Epstein relationship.

New York

Photos show Jeffrey Epstein attended Trump’s wedding in 1993

Trump announced a new 19% tariff rate for goods from the Philippines after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House, and said U.S. goods would pay zero tariffs.

Trump says U.S. will charge 19% tariff on goods from Philippines

Deputy Attorney General Todd Blanche, who represented President Trump in his "hush money" case, announced he plans to meet with Jeffrey Epstein's former girlfriend and co-conspirator, Ghislaine Maxwell, as the push to release files related to Epstein's trafficking case continues.

Deputy attorney general seeks interview with Ghislaine Maxwell

Ozzy Osbourne, the hellraising frontman of Black Sabbath and reality TV star, has died aged 76. CNN’s Stephanie Elam looks back at the legendary career as the Godfather of Heavy Metal.

Los Angeles

Legendary singer Ozzy Osbourne dies at 76

During his Oval Office meeting with Philippine President Bongbong Marcos, President Donald Trump accused former President Barack Obama of treason for his handling of the investigation into Russian interference in the 2016 presidential election.

Trump accuses Obama of treason over 2016 election probe

A SkyWest flight, operating as a Delta connection, with 80 people on board made a sharp maneuver to avoid a B-52 bomber flying over the North Dakota State Fair. The FAA is investigating how the aircraft came so close.

Minot

Investigation underway after jet narrowly avoids Air Force bomber

A judge on Monday sentenced ex-Louisville police officer Brett Hankison to 33 months in prison and three years of subsequent supervised release, following the 2020 shooting death of Breonna Taylor.

Louisville

Judge sentences ex-officer in Breonna Taylor raid to nearly 3 years

A six-week-old infant and three other children have died of starvation in Gaza in the past 24 hours, local health officials said, with malnutrition and starvation now killing Palestinians faster than at any point in the 21-month war. This video includes images some may find distressing.

Jerusalem

Middle East Conflict

Medics say four Gaza children starve to death in hunger crisis

Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold a new round of peace talks on Wednesday. The announcement comes as Russian drones hit parts of Ukraine, officials said.

Kyiv

Ukraine Invasion

Zelenskyy says Russia, Ukraine to hold new round of peace talks

The Trump administration released thousands of records related to the assassination of Dr. Martin Luther King Jr., despite objections from his family. CBS News' Weijia Jiang has the latest.

Trump admin releases Martin Luther King Jr. assassination records

Students gather to protest in Bangladesh outside the school where a military jet crashed Monday, killing at least 30 people, including dozens of children.

Dhaka

Protests break out as death toll passes 30 in Bangladesh jet crash

CBS News has learned that a new assessment of the U.S. strikes on Iranian nuclear sites in June finds that only one of three facilities was possibly destroyed. CBS News senior national security correspondent Charlie D'Agata has the details.

Tehran

U.S. strikes may have destroyed one Iranian nuclear facility

For the first time, Taiwan has combined two major civil defense exercises and staged them in conjunction with its largest-ever military simulation. CNN’s Will Ripley explains why the self-governing island is bolstering its preparations for a potential war with China.

Taipei

Taiwan holds unprecedented military drills

With questions continuing around the so-called Epstein files, U.S. President Donald Trump has made several controversial social media posts. Some political scientists say the posts are likely a way to distract the public from talking about Trump’s past ties sex offender Jeffrey Epstein.

Trump posts fake AI video of Obama arrest amid Epstein furor

The next set of peace talks between Ukraine and Russia - the first meeting in seven weeks - is planned for Wednesday in Turkey, President Zelenskyy quoted the head of Ukraine's National Security and Defence Council as saying.

Zelenskyy says new peace talks planned for Wednesday

Israel’s latest offensive in Gaza is targeting humanitarian hub Deir al-Balah because officials believe Hamas is hiding hostages there. The move comes as 25 countries, including Canada, called for an immediate ceasefire and the resumption of aid.

Israeli offensive targets humanitarian hub of Deir al-Balah

A sweeping cyber espionage operation targeting Microsoft server software 'SharePoint' compromised about 100 different organizations as of the weekend, two of the organizations that helped uncover the campaign said on Monday (July 21).

Redmond

Microsoft server hack hit about 100 organizations, experts say

Protestors showed up at the federal courthouse in Boston on Monday amid Harvard's $2 billion legal battle with the Trump administration.

Boston

Protestors gather outside courthouse amid Harvard-Trump hearing

Malcolm-Jamal Warner, an actor and artist who rose to fame as a child as Theodore Huxtable on “The Cosby Show,” has died in a drowning accident in Costa Rica, where he was on vacation with his family, according to a source close to the actor.

‘The Cosby Show’ star Malcolm-Jamal Warner dead at 54

An off-duty U.S. Customs and Border Protection agent was shot after an apparent robbery went wrong in New York, officials say. New York Mayor Eric Adams said a 21-year-old undocumented immigrant was taken into custody. The agent is in stable condition and is expected to survive.

Off-duty Border Patrol agent shot in NYC by undocumented migrant

The jet crashed onto the campus of Milestone School and College in Dhaka's Uttara neighbourhood, where students were taking tests and attending regular classes.

At least 20 killed after Bangladesh Air Force jet crashes into school

An investigation into Jeju Air's fatal plane crash in December has found "clear evidence" that pilots shut off the less-damaged engine after a bird strike in South Korea, a source told Reuters. But a progress report was not released as planned, after families of the bereaved protested some of its phrasing.

Muan-gun

Report says pilot shut wrong engine before Jeju Air crash

Iran, China and Russia will discuss Tehran's nuclear activities and sanctions on Tuesday, with the E3 nations set for talks on Friday amid threats of reimposing sanctions.

Iran to consult with Russia, China ahead of European nuclear talks

Hundreds of Bedouin civilians were evacuated from Syria's predominantly Druze city of Sweida on Monday (July 21) as part of a U.S.-backed truce meant to end fighting that has killed hundreds of people, state media and witnesses said.

As Suwayda

Bedouin civilians evacuate Syria's Sweida as tense truce holds

Japanese Prime Minister Shigeru Ishiba vowed to remain in office on Monday after his ruling coalition suffered a bruising defeat in upper house elections, prompting some of his own party to deliberate his future as the opposition weighed a no-confidence motion.

Tokyo

Japan PM Ishiba vows to stay on after bruising election defeat

Police say Fernando Ramirez drove onto a crowded sidewalk outside a Los Angeles nightclub early Saturday, injuring dozens. He was later shot by a bystander who fled the scene, prompting a citywide search.

Police search for gunman after car-ramming attack in L.A.

Japan's ruling coalition is certain to lose control of the upper house in election, public broadcaster NHK reported, an outcome that further weakens Prime Minister Shigeru Ishiba's grip on power as a tariff deadline with the United States looms.

Japan's ruling coalition loses control of upper house

Iran's foreign minister has said the country France, Germany and the UK are looking to set a date for a meeting for nuclear talks, in what could be a step toward ending the protracted impasse over Iran's nuclear programme and Western concerns.

Breakdown