Happy New Year 2025

Category: Business

FTC grants chairman authority to comply with Trump’s orders on DEI programs

OpenTheBooks’ CEO John Hart discusses how billions of taxpayer dollars are wasted over DEI measures on ‘The Bottom Line.’

The Federal Trade Commission (FTC) on Thursday granted Chairman Andrew Ferguson the authority needed to comply with President Donald Trump’s executive orders slashing DEI programs in federal agencies.

The move comes after Ferguson on Wednesday denounced DEI, or diversity, equity, and inclusion, programs as “a scourge on our institutions.”

“President Trump promised the American people that he would end it. He has done so in three amazing executive orders,” Ferguson wrote on X. “Under my leadership, the FTC is doing its part to end the DEI plague. We are done with DEI at the FTC. No DEI office, no DEI influence on hiring, no DEI programming. It is over.”

TRUMP CRYPTO CZAR HAILS EXECUTIVE ORDER, SLAMS BIDEN’S TREATMENT OF INDUSTRY

FTC Commissioner Andrew Ferguson was tapped to chair the FTC last month. (Screenshot/Federal Trade Commission / Fox News)

That same day, Ferguson laid out a series of actions to purge the FTC of DEI-related initiatives at the FTC. Since some of these would require Commission votes to end, Ferguson said the Commission would be considering a motion to grant him the authority to bring the federal agency into compliance with the president’s orders.

President Donald Trump signs a series of executive orders at the White House on January 20, 2025, in Washington, DC. (Jabin Botsford /The Washington Post via Getty Images / Getty Images)

On Thursday, the FTC approved the motion by a vote of 2-1-2, giving Chairman Ferguson the necessary authority to do just that. Commissioners Rebecca K. Slaughter and Lina M. Khan did not participate in the vote.

The FTC is merely one of many federal agencies being purged of DEI-related programs after President Donald Trump retook the White House this week.

Trump signed an executive order on Monday to eliminate all DEI programs from the federal government.

TRUMP APPLAUDED FOR ‘SIGNIFICANT’ IMMIGRATION ACTION AFTER BIDEN’S ‘INEXCUSABLE INACTION’

US President Donald Trump delivers his inaugural address after being sworn in as the 47th President of the United States in the Rotunda of the US Capitol on January 20, 2025, in Washington, DC. (CHIP SOMODEVILLA/POOL/AFP via Getty Images / Getty Images)

Trump issued two other executive actions on Tuesday targeting DEI — an executive order to end discrimination in the workplace and higher education through race- and sex-based preferences under the guise of DEI and a memo to eliminate a Biden administration policy that prioritized DEI hiring at the Federal Aviation Administration.

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Fox News Digital’s Brooke Singman contributed to this report.

January 24, 2025
Trump crypto czar David Sacks touts president’s executive order, says Biden drove industry offshore

Trump AI and ‘crypto czar’ David Sacks discusses the administration’s crypto policies and future ambitions for the digital currency during an exclusive interview on ‘The Evening Edit.’

President Donald Trump’s cryptocurrency czar, David Sacks, is celebrating after the president signed an executive order seeking to clarify regulations in the industry on Thursday, hailing his embrace of the industry while slamming the Biden administration for driving it away.

In an exclusive interview with FOX Business’ “The Evening Edit” on Friday, Sacks said Trump’s actions showed he is following through on his campaign promise to make the U.S. the “crypto capital” of the world.

Sacks said that Trump’s crypto EO directs his working group to produce a regulatory framework to encourage innovation and crypto in the U.S., rather than driving the industry to other countries.

PROMINENT PRIVATE SECTOR INVESTMENTS MOUNT AMID TRUMP’S RETURN TO THE WHITE HOUSE

“For the last four years, the Biden administration has basically prosecuted and persecuted crypto companies, really driving them offshore,” Sacks told host Edward Lawrence. “I’ve heard so many outrageous stories by founders, by entrepreneurs, the Biden administration would not tell them what the rules of the road were, and they would then get prosecuted. And what the industry wants more than anything else is regulatory clarity.”

David Sacks, CEO of Zenefits, speaks during 2016 TechCrunch Disrupt in San Francisco, California, U.S. September 13, 2016. (REUTERS/Beck Diefenbach / Reuters)

“They’re saying, just tell us what the rules are. We will abide by them,” Sacks said. And the Biden administration would never do that. And because of that, all the innovation was basically moving offshore, and America was about to lose this technology of the future.”

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Trump’s order establishes the Presidential Working Group on Digital Asset Markets, which will develop a federal regulatory framework for digital assets, including stablecoins, and evaluate the creation of a strategic national digital assets stockpile. It will be chaired by the White House AI and crypto czar and include the treasury secretary, the chairman of the Securities and Exchange Commission (SEC), as well as other relevant department and agency heads.

January 24, 2025
Trump applauded for ‘significant’ immigration action after Biden admin ‘ruined’ US border

Sen. Mike Lee, R-Utah, says President Donald Trump is starting from ‘square one’ on the border on ‘Kudlow.’

During his first week in office, President Donald Trump launched an immigration crackdown with a number of border security measures. The efforts are one of many campaign promises Trump has worked to keep since assuming office Monday.

One Republican lawmaker applauded Trump for his immigration efforts, calling out former President Joe Biden for leaving the border “wide open” for years.

“Donald Trump has shown that he’s willing to deliver on campaign promises. Promises the American people have been relying on him to deliver and promises that really are long overdue,” Sen. Mike Lee, R-Utah, said on “Kudlow” Thursday.

TRUMP BORDER CZAR TOM HOMAN REVEALS ICE TEAMS ARE ALREADY ARRESTING ‘PUBLIC SAFETY THREATS’

“This also shows just how inexcusable the Biden administration’s inaction was. They claimed over and over again, we can’t do it for this reason, that reason or any other reason. This was a willful subversion of America’s border security, an intentional weakening of our national security.”

Rep. Laurel Lee, R-Fla., joins ‘The Evening Edit’ to discuss the House passing the Laken Riley Act and how it may affect illegal immigration.

Upon taking office, Trump signed orders declaring a national emergency at the border, deploying the military and ending the use of the CBP One app to process migrants at ports of entry via humanitarian parole.

His administration has also launched a mass deportation operation, with ICE agents active in multiple cities and states across the nation.

The Department of Homeland Security has also issued memos rescinding limits placed on ICE by the Biden administration, ordering a review of parole and expanding the use of expedited removal for recently-arrived illegal immigrants.

BORDER ENCOUNTERS DROP SHARPLY AS TRUMP LAUNCHES CRACKDOWN ON ILLEGAL IMMIGRATION

“Biden created so many problems with his open borders, problems that have resulted in death, destruction, suffering and theft, among other problems for the American people. So President Trump’s right to start where he started,” Lee said when asked about the deportation operations.

“Our hope and expectation is that in some cases, some of these folks will have enough presence of mind to realize it might make sense for them to leave on their own. For those that don’t, they will find out the hard way.”

Texas Public Safety Department Lt. Chris Olivarez discusses the border crisis under the Trump administration.

Trump’s administration has also moved to restore border wall construction and reinstate the Remain-in-Mexico policy, which requires migrants to stay in Mexico for the duration of their asylum cases.

Trump also signed an executive order ending birthright citizenship for illegal immigrants — a move which quickly sparked a lawsuit from nearly two dozen Democratic-led states. A federal judge in Seattle Thursday temporarily blocked the president’s birthright citizenship order, describing the action as “blatantly unconstitutional.”

“Now that Donald Trump is having to go back almost to the drawing board, as it were. Start from square one and he’s already making significant progress. I applaud him for that,” Lee said.

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Fox News’ Adam Shaw contributed to this report.

January 24, 2025
UnitedHealthcare announces new CEO after killing of Brian Thompson

Fox News national correspondent Bryan Llenas reports on the arrest of Luigi Mangione, a suspect in the killing of UnitedHealthcare CEO Brian Thompson on ‘Your World.’

UnitedHealth Group on Thursday announced the new leader of its insurance division, UnitedHealthcare, after last month’s alleged targeted killing of former CEO Brian Thompson.

Tim Noel, who most recently served as CEO of UnitedHealth Group’s Medicare and retirement business, will step into the top job at UnitedHealthcare after Thompson’s killing. Noel has worked for the company since 2007.

UnitedHealth Group said in a statement Noel “brings unparalleled experience to this role with a proven track record and strong commitment to improving how healthcare works for consumers, physicians, employers, governments and our other partners.”

UnitedHealthcare is the largest U.S. health insurer and provides benefits to more than 50 million Americans.

UNITEDHEALTH GROUP AIMS TO GET BACK TO BUSINESS AFTER CEO MURDER

UnitedHealth Group veteran Tim Noel will serve as CEO of the company’s insurance division, UnitedHealthcare. (Stephen Maturen/Getty Images / Getty Images)

Thompson was shot and killed Dec. 4 in Manhattan, where he was about to attend the company’s investor day. Law enforcement officials called the killing a “premeditated, targeted attack.”

Ticker Security Last Change Change %

UNH UNITEDHEALTH GROUP INC. 529.66 +10.34 +1.99%

Thompson worked for the company for more than 20 years and had previously served as chief financial officer for several of the company’s businesses, including its employer and individual, community and state and Medicare and retirement divisions before becoming UnitedHealthcare CEO.

WHO WAS BRIAN THOMPSON, UNITEDHEALTHCARE CEO?

UnitedHealth Group CEO Andrew Witty testifies during a Senate Finance Committee hearing in Washington, D.C., May 1, 2024. (Al Drago/Bloomberg via Getty Images / Getty Images)

Luigi Mangione was arrested and charged with murder in the killing, and he also faces charges related to stalking, guns and a fake ID. Mangione faces federal charges in addition to charges in the states of New York and in Pennsylvania, where he was apprehended after a manhunt.

Scores of people online praised Mangione for allegedly carrying out the killing, using the crime as an opportunity to unleash frustrations with the U.S. healthcare system.

LUIGI MANGIONE WASN’T A UNITEDHEALTHCARE MEMBER, MAY HAVE TARGETED COMPANY BECAUSE OF SIZE AND INFLUENCE: NYPD

This 2017 file photo of Brian Thompson was released by Businesswire when he was named CEO of UnitedHealthcare in 2017. (Businesswire / Fox News)

Last week, UnitedHealth Group announced its most recent earnings report in which CEO Andrew Witty thanked the public for the “overwhelming expressions of condolence and support” after Thompson’s murder.

“Many of you knew Brian personally. You knew how much he meant to all of us, and how he devoted his time to helping make the health system work better for all of the people were privileged to serve,” Witty said. Thompson “would dive in with passion and care to find solutions to improve experiences, whether for an individual consumer or an employer or a public health agency.

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“The people of UnitedHealth Group remain focused on making high-quality, affordable healthcare more available to more people while making the health system easier to navigate for patients and providers, positioning us well for growth in 2025.”

FOX Business’ Daniella Genovese and Reuters contributed to this report.

January 23, 2025
Eli Manning reveals Knob Creek partnership ahead of Super Bowl

Eli Manning, two-time Super Bowl champion, is going up against his brother, former NFL quarterback Peyton Manning, as head coaches of the Pro Bowl again in 2025. The former NY Giants quarterback dove into his winning strategy with FOX Business.

NFL legend and former New York Giants quarterback Eli Manning has teamed up with Kentucky straight bourbon whiskey brand Knob Creek to offer Super Bowl fans a limited-edition bottle ahead of game day on Feb. 9.

Manning, opposite Knob Creek’s master distillers Fred Noe and Freddie Noe, personally selected Eli Manning’s 2025 Bold Pick, a single barrel bourbon.

“I got to go down to Kentucky and handpick this bourbon,” Manning told FOX Business.

PEYTON, ELI MANNING LAUNCH PREMIUM BOURBON SWEETENS COVE AT $200 A BOTTLE

Two-time Super Bowl champion Eli Manning partnered with Knob Creek to release a limited-edition bottle of bourbon. (Knob Creek / Fox News)

However, the whiskey aisle in your local stores will probably be bare of this booze as the release is exclusive to locations special to the Super Bowl champion himself — the New York Metro area where Manning played professionally, his hometown of New Orleans and sports hub Los Angeles.

The youngest Manning brother expressed his pleasure in collaborating with the Noe father-and-son duo to craft a unique flavor while diving deep into the history of the brand.

“It was an unbelievable experience,” Manning said.

Bold Pick is said to taste of toffee, honey, dark stone fruit with hints of dark chocolate and finish with spicy cinnamon, black pepper, brown sugar and espresso.

ELI MANNING SHARES HIS DAD’S FUNNY TEXTING HABIT IN SOCIAL MEDIA POST

Manning traveled to Kentucky to work alongside master distillers Fred and Freddie Noe to hand select Bold Pick. (Knob Creek / Fox News)

“It’s just perfect for celebrating the big moments and wins in your life,” Manning said.

Frigid weather conditions in the South, Midwest and East and Sunday football are the perfect excuse to stay inside and sip Bold Pick on the rocks, according to Manning.

Manning’s Bold Pick is “patiently aged for a minimum of nine years in American white oak barrels,” according to a Knob Creek press release provided to FOX Business.

The suggested retail price is $59.99.

Manning, with his older brother and former NFL quarterback Peyton Manning, will return to the action-packed Pro Bowl as head coach again this year.

“It’s been a lot of fun coaching the Pro Bowl these last two years,” Manning said. “Especially beating Peyton these last two years.”

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Eli Manning’s 2025 Bold Pick is a single barrel bourbon by Knob Creek. (Knob Creek / Fox News)

The two-time Super Bowl champion will coach the NFC contingent, while Peyton will team up with the AFC, aiming to end Eli’s winning streak on Feb. 2, a week before Super Bowl LIX.

“I know Peyton’s been studying,” Manning said. “He’s brought in experts on all these skills challenges to try to get some extra information.”

As for the Super Bowl, the Manning family will be together in New Orleans on game day, where they will stay with their parents.

“I don’t even have to get a hotel,” Manning said. “We’ll probably be on Bourbon Street, so it’s a good opportunity to drink a little Knob’s Creek bourbon as well.”

January 23, 2025
Elon Musk gets DOGE suggestions from Sen. Warren, who takes more swipes at him

Elon Musk speaks at President-elect Donald Trump’s victory rally in Washington, D.C.

Far-left Sen. Elizabeth Warren sent Elon Musk a long list of suggested cuts for consideration by the Department of Government Efficiency (DOGE), which he leads for the Trump administration, and used the opportunity to criticize the initiative as well as the Tesla CEO, whom she has attacked several times in the past.

In a letter dated Thursday, Warren told Musk she has “very serious concerns about both the DOGE process and the policies” that Musk has “publicly discussed to date,” saying “it is not clear that you and other DOGE leaders are able to identify and mitigate your conflicts of interest and adhere to common-sense ethics standards.”

Elon Musk, the CEO of Tesla and founder of several other companies, is the wealthiest man in the world. (Photo by Etienne Laurent/AFP via Getty Images / Getty Images)

The Democrat from Massachusetts said DOGE “appears to be a venue for corruption, allowing well-connected billionaires to put government policies in place that enrich them while hurting ordinary Americans,” and said she is “disturbed by the dangerous proposals” floated by the committee so far.

PROGRESSIVE SENATORS WEIGH IN ON PROSPECT OF 32-HOUR WORKWEEK

“But, your broad point—that the federal government spends trillions of dollars on wasteful spending is correct,” Warren said. “And if you are serious about working together in good faith to cut government spending—in a way that does not harm the middle class—I have proposals for your consideration.”

Senator Elizabeth Warren, D-MA, speaks during a Senate Finance Committee hearing on Capitol Hill on October 19, 2021, in Washington, DC. (Photo by Mandel Ngan-Pool/Getty Images / Getty Images)

She went on to list 30 ideas for saving taxpayer dollars, such as cutting wasteful spending at the Department of Defense, further price controls for Medicare, breaking up healthcare conglomerates, and eliminating or reducing federal spending for Charter Schools, and closing tax loopholes for the wealthy.

OPENAI EXEC RESPONDS TO MUSK, ALTMAN TRADING BARBS OVER STARGATE: WE’RE AT ‘THE TIP OF THE ICEBERG’

Warren said her proposals would slash at least $2 trillion in federal spending over the next decade.

Forbes Media chairman Steve Forbes bashes Democratic Sen. Elizabeth Warren for appearing to justify UnitedHealthcare CEO Brian Thompson’s killing, on ‘The Bottom Line.’

Warren has called for investigations into Musk and his businesses multiple times in recent years, and last month she wrote a letter to the Trump transition team demanding answers about what she said were Musk’s “conflicts of interest” in heading up DOGE.

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The pair’s feuds have also spilled over onto Musk’s X social media platform, where Musk has dubbed her “Senator Karen.”

“You remind me of when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason,” Musk replied to Warren on X, then-Twitter, in 2021. “Please don’t call the manager on me, Senator Karen.”

January 23, 2025
Elon Musk and tech leader Sam Altman get into war of words

New York Post elections editor Kelly Jane Torrance and political commentator Debra Lea discuss the rise of A.I. in classrooms on ‘Making Money.’

OpenAI CEO Sam Altman suggested that Elon Musk cares more about his businesses than he does the country, shortly after he referred to Musk as “the most inspiring entrepreneur of our time.”

Following the announcement of a new $500 billion artificial intelligence infrastructure project involving OpenAI, Oracle and SoftBank, Musk cast doubt about the project’s ability to follow through with its promises, arguing the cohort of companies did not actually have the money to complete the project. The project, called Stargate, will see the trio of companies join forces to build data centers in the U.S. for the further development of AI, which holds the promise of increasing productivity by automating work.

According to Musk, he has it “on good authority” that the new project is lacking funds, he said in a post on X, in response to a separate post from Altman’s OpenAI touting the new project. “SoftBank has well under $10B secured. I have that on good authority.”

BENJAMIN NETANYAHU COMES TO DEFENSE OF ELON MUSK: ‘FALSELY SMEARED’

Altman responded to Musk’s claim, insisting he was “wrong.”

OpenAI CFO Sarah Friar is defending the company’s stance that it has the financial backing to fund the Stargate AI project. (Photo by Muhammed Selim Korkutata/Anadolu via Getty Images / Getty Images)

“Wrong, as you surely know,” Altman wrote about Musk’s claim that OpenAI didn’t have the money to fund Stargate. “Want to come visit the first site already under way?” he asked Musk.

“I realize, what is great for the country isn’t always what’s optimal for your companies, but in your new role I hope you’ll mostly put [America] first,” Altman added.

Altman’s jab at Musk resulted in the tech entrepreneur turned presidential advisor posting a barrage of criticisms targeted at Altman, calling him a “liar” and suggesting the OpenAI CEO was greedy and anti-Trump, despite him recently saying that his perspective on the president had changed and that he was excited to see what Trump will do for the country.

TRUMP SUPPORTS ELON MUSK OR LARRY ELLISON BUYING TIKTOK

Musk shared posts criticizing Altman’s ties to LinkedIn co-founder Reid Hoffman, a critic of Trump who helped fund E. Jean Carroll’s sexual assault lawsuit against the president prior to his November election win. Another post that Musk shared claimed that Altman’s OpenAI was giving money to news outlet Axios, which the post accused of being anti-Trump. Musk also highlighted a 2016 post Altman made that said – following Trump’s first election win in 2016 – he was getting “back to work on a new project to stop Trump.”

Elon Musk and OpenAI CEO Sam Altman. Musk previously helped launch OpenAI, which Altman is now the CEO of, but no longer has any connection to the company. (Getty Images / Getty Images)

Besides trying to paint Altman as anti-Trump, Musk also levied criticisms at OpenAI, which Musk helped found but does not currently have any involvement with. Last year, Musk sued OpenAI twice, alleging that Altman and the company violated a contract they signed agreeing the company would have a main purpose of benefiting the general public, not making money.

“Altman literally testified to Congress that he wouldn’t get OpenAI compensation and now he wants $10 billion!” Musk posted on X, alongside an image of a Reuters headline about Altman obtaining an equity stake in OpenAI after it went from being a nonprofit to a private company. “What a liar.”

Another post shared by Musk included an image of a meth pipe with the caption, “Leaked image of the research tool OpenAI used to come up with their $500 billion number for Stargate.”

BEN & JERRY’S CO-FOUNDER LAUNCHES CONTEST TO SUPPORT ELON MUSK’S DEPT OF GOVERNMENT EFFICIENCY: ‘DOGE VS BLOB’

OpenAI CEO Sam Altman (R), accompanied by President Donald Trump, speaks during a news conference in the Roosevelt Room of the White House on Jan. 21, 2025 in Washington, D.C. Trump announced an investment in artificial intelligence (AI) infrastructu (Getty Images)

In response to the war of words between Musk and Altman, artificial intelligence policy researcher Tolga Bilge questioned Altman’s criticism of Musk, writing: “Which is his real mask?” on X.

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“Both are true!” Altman responded. “I don’t think he’s a nice person or treating us fairly but you have to respect the guy, and he pushes all of us to be more ambitious.”

Fox News Digital reached out to OpenAI and Musk for comment but did not hear back by publication time.

January 23, 2025
Elon Musk’s DODGE setting its sights on America’s copper coin

Check out what’s clicking on FoxBusiness.com.

Elon Musk’s Department of Government Efficiency (DOGE) is eyeing ways to slash government spending. One of its first targets could be the penny.

DOGE, which officially became a part of the government on Tuesday after President Donald Trump signed an executive order, posted on X that producing the penny is costing American taxpayers tens of millions of dollars, suggesting that it may be one of the items it may consider eliminating.

Musk’s initiative, aimed at cutting $2 trillion in federal spending, didn’t directly state that the penny would be eliminated, but highlighted that it costs three times more to make than it’s actually worth.

According to the U.S. Mint, each penny cost 3.69 cents to produce in fiscal year 2024, costing taxpayers $119 million. This marked the 19th consecutive year in which production exceeded its face value.

ELON MUSK’S DOGE FACES FIRST LEGAL CHALLENGE WITHIN HOURS OF TRUMP INAUGURATION

In the U.S., the penny was one of the first coins made by the U.S. Mint after its establishment in 1792. When it was first produced, the coin was larger and made of pure copper. Today’s smaller coin is made mostly of zinc, according to the U.S. Mint.

For comparison, the Canadian government eliminated the penny from its coinage system in 2012 because inflation eroded its purchasing power.

“Over time, the penny’s burden to the economy has grown relative to its value as a means of payment,” the government’s Economic Action Plan 2012 read.

ELON MUSK AND VIVEK RAMASWAMY POINT TO DOGE TARGETS

At the time, the penny only retained about one-twentieth of its original purchasing power.

“Given its declining purchasing value, some Canadians consider the penny more of a nuisance than a useful coin,” the report said.

According to the U.S. Mint, each penny cost 3.69 cents to produce in fiscal year 2024, costing taxpayers $119 million. (Tim Boyle/Getty Images) / Getty Images)

The penny is just one of many items that DOGE may look to eliminate as it sets its sights on cutting $2 trillion in federal spending. However, Musk admitted in early January that DOGE may not reach its intended $2 trillion target.

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“I think we’ll try for $2 trillion. I think that’s like the best-case outcome,” Musk told Stagwell Inc. CEO Mark Penn, adding that he believes if DOGE aims for $2 trillion in cuts, it has a “good shot at getting one.”

January 23, 2025
O’Leary defends his TikTok offer now competing against MrBeast as ‘only’ viable option

O’Leary Ventures Chairman Kevin O’Leary unpacks President Donald Trump’s latest billion dollar investments and the future of TikTok ownership as multiple deals hit the negotiating table.

As the internet’s top creator MrBeast allegedly readies to enter the TikTok sale arena, “Mr. Wonderful” is defending his deal as the best and most viable option for the Chinese-owned social platform.

“The most, not troubling, but difficult part of this is in the fifth and sixth page of that order two Fridays ago from the Supreme Court, it specifically outlines: not a single line of code can be used from the existing Chinese algorithm. That’s 5 billion codes nobody can use,” Kevin O’Leary explained on “Varney & Co.,” Thursday.

“So now it comes back to which group — I don’t care how many people announced this — has the tech to support this. And as far as I know, it’s only the McCourt-O’Leary bid. We have the tech.”

O’Leary and billionaire entrepreneur Frank McCourt have put out a $20 billion cash offer to TikTok to purchase the app after the Supreme Court upheld Congress’ federal law requiring the company to divest to a U.S. buyer or face a user ban.

KEVIN O’LEARY WARNS TIKTOK’S FATE COULD BE DETERMINED BY ‘SECRET GOLDEN SHARE’ GRANTING BEIJING ‘VETO’ POWER

The Associated Press reported that, on Tuesday, a law firm advising Recruiter.com Ventures founder and CEO Jesse Tinsley’s TikTok offer named Jimmy Donaldson – better known as MrBeast – as an interested party in the deal.

Kevin O’Leary says his TikTok offer is the “only” viable option as mega-popular internet creator MrBeast reportedly enters the race, too. (FOXBusiness)

Adding to speculation, Donaldson had posted on X on Jan. 13 that he’d “buy TikTok so it doesn’t get banned,” adding the next day that “I’ve had so many billionaires reach out to me since I tweeted this, let’s see if we can pull this off.”

‘Shark Tank’ investor Kevin O’Leary talks TikTok’s future, the Chinese government’s role with a ‘secret golden share’ and the role Trump could play in keeping the platform available in the U.S.

But a representative for Donaldson confirmed to the Associated Press Wednesday that MrBeast hasn’t officially joined any bids, saying: “Several buyers are holding ongoing discussions with Jimmy… He has no exclusive agreements with any of them.”

“The only two that can decide what’s going to happen here are [President Donald] Trump and Xi [Jinping]. And so Xi has not yet indicated if he wants to sell it, that’s the next step,” O’Leary expanded. “If he does, everybody’s happy with whatever Trump comes back with as long as it complies with the laws of Congress and the order from the Supreme Court.”

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Billionaire entrepreneur Frank McCourt details what will happen when his offer with Kevin O’Leary to buy TikTok could be accepted and they begin negotiations with ByteDance.

“We’ve been to the Hill this week talking to senators and congressmen about what we’ve got,” Mr. Wonderful added. “We can move it over without a single line of Chinese code and allow Americans to sequester their own data so there’s no leakage. And I’m hoping that’s, [at] the end of the day, why this deal comes to us.”

Though TikTok’s future operation and ownership remains uncertain, President Trump signed an executive order on his first day in the Oval Office that extends its divest-or-ban deadline by 75 days, giving the Chinese social media app more time to decide on a buyer.

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January 23, 2025
President Trump signs crypto executive order

Professional Capital Management founder and CEO Anthony Pompliano on the Trump administration launching a crypto taskforce and the formation of the Stargate AI project.

President Donald Trump signed an executive order on Thursday that seeks to clarify regulations in the crypto industry to “secure America’s position as the world’s leader in the digital asset economy,” FOX Business has learned.

Trump’s order establishes the Presidential Working Group on Digital Asset Markets, which will develop a federal regulatory framework for digital assets, including stablecoins, and evaluate the creation of a strategic national digital assets stockpile. It will be chaired by the White House AI and crypto czar and include the treasury secretary, the chairman of the Securities and Exchange Commission (SEC), as well as other relevant department and agency heads.

Additionally, the executive order prohibits agencies from establishing, issuing or promoting central bank digital currencies, and directs other federal agencies and departments to provide the group with recommendations about digital asset regulations that should be rescinded or modified. It also revokes the Biden administration’s digital assets executive order framework for international engagement on the industry.

“President Trump will help make the United States the center of digital financial technology by halting aggressive enforcement actions and regulatory overreach that have stifled crypto innovation under previous administrations,” the White House announcement said.

SEC LAUNCHES CRYPTO TASK FORCE TO CREATE REGULATORY CLARITY

President Donald Trump campaigned on boosting the U.S. crypto industry. (Jabin Botsford /The Washington Post via Getty Images / Getty Images)

The executive order comes after Trump touted a crypto-friendly approach to regulating the growing industry during his presidential campaign. He pledged at a crypto conference he attended last summer to make the U.S. the “crypto capital of the planet” and the “bitcoin superpower of the world” if elected.

Former President Joe Biden’s administration, through then-SEC Chair Gary Gensler, carried out a regulatory crackdown on the digital assets industry in an effort to root out bad actors.

Gensler resigned from the SEC on Inauguration Day and Trump appointed SEC Commissioner Mark Uyeda, a Republican appointee, as the agency’s acting chair while his nominee to serve as the new permanent chair, Paul Atkins, awaits Senate confirmation.

PRESIDENT TRUMP APPOINTS MARK UYEDA ACTING SEC CHAIR

Uyeda’s first official action was to create a new crypto task force led by GOP Commissioner Hester Peirce, often referred to as “Crypto Mom.”

The task force will foster a dialogue with industry players to promote a friendlier regulatory environment by focusing on drawing clear regulatory lines, providing realistic paths to registration, crafting sensible disclosure frameworks and deploying enforcement resources.

It will also coordinate those activities with other federal agencies, including the Commodity Futures Trading Commission, which is poised to take on a larger role in crypto regulation.

Bitcoin prices were up slightly on Thursday in advance of the news, rising by 0.35% to $104,043. In the last month, bitcoin prices have been up over 8.6%.

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FOX Business’ Edward Lawrence and Eleanor Terrett contributed to this report.

January 23, 2025