Opinion | Cryptocurrency has an Elon Musk problem

No one knows precisely what moves crypto prices, but Musk certainly seems to be playing a role — and by extension may be endangering the decentralized ideals of the market. Not long after he announced in February that Tesla would invest $1.5 billion in bitcoin, the price of one bitcoin hit a high, crossing $50,000 for the first time. Then, this month, Musk changed tack: Citing the environmental cost of bitcoin mining’s use of computing power, he announced that Tesla would no longer accept payment in the currency. Bitcoin’s price crashed soon after. This week, he may have helped push

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Premarket stocks: Wall Street is facing a $9 trillion problem

What’s happening: The latest reading of the Back-to-Normal Index from CNN Business shows that the US economy’s comeback is 90% complete. But investors are increasingly worried that the Federal Reserve, observing such promising data and rising inflation, will make a damaging mistake, such as moving too soon to roll back unprecedented levels of support — or ignoring growing problems until they’re too late.

In a Deutsche Bank survey of 620 market professionals published this week, 39% of respondents listed a “central bank policy error” as one of the top three risks to market stability, up from 21% the previous month.… Read More

Bipartisan bill would fix decades-old student loan problem for divorced Americans

In 1992, Congress tried to address student loan default rates by creating a statute in the Higher Education Act that enabled married couples to consolidate their debt with their spouses.

Nearly 30 years later, lawmakers are trying to pass a new law to fix the unintended consequence of some of those borrowers being divorced and squabbling over the consolidated debt.

A bipartisan group of lawmakers — including Representatives David E. Price (D-NC), Greg Murphy (R-NC), and Haley Stevens (D-MI), in addition to Senators Mark Warner (D-VA), Marco Rubio (R-FL), and John Cornyn (R-TX) — have now reintroduced the Joint Consolidation

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