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A cartoon image of US President-elect Donald Trump holding a Bitcoin token to mark the cryptocurrency reaching over $100,000 displayed at a Coinhero store in Hong Kong, China, on in Hong Kong, China, on Thursday, Dec. 5, 2024. 

Paul Yeung | Bloomberg | Getty Images

President Trump’s return the White House is expected to usher in a golden, if chaotic, age of crypto in the U.S., according to Bernstein.

Over the weekend Trump launched a meme coin, “Official Trump,” that rose to a market cap of $73 billion in two days before a 50% drawdown. The move came just as Gary Gensler, an opponent of crypto startups in his harsh enforcement approach as the head of the Securities and Exchange Commission, left his post.

One day after the Trump coin was revealed, First Lady Melania Trump launched her own meme coin to lesser fanfare. The splashy reveals drew criticism from many on social media, concerned it’s a bad look for an industry that has fought to distance itself from its early days of initial coin offerings (ICO) bubbles, non-fungible token (NFT) booms and celebrity crypto endorsements that led to investor losses.

That may be a short-term price to pay for a long-term goal of cryptocurrency innovation in a permissive regulatory environment, said Bernstein analysts led by Gautam Chhugani.

“Whichever way you see it, we think a new chaotic crypto era is here,” he said in a note published Monday. “The President of America has his own coin. Our view would be to view the event as a signal that a new crypto regulatory era is here to stay and invest in the more valuable parts of the ecosystem.”

“Given the previous U.S regulatory regime was about crackdown on crypto builders and enforcement actions on token-related activities, a token launch by the President, is a huge social signal to U.S builders: build away in the U.S, and don’t be shy of launching tokens,” Chhugani added.

The Trump meme coin was recently trading at about $38.41 on Tuesday, almost 50% off its high.

A disclaimer on the Trump coin’s website says it is “intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’ and the associated artwork, and … not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”

There are 200 million coins initially available, which will grow to 1 billion over three years, according to the website. Only 10% are available to the public, with another 10% held in liquidity and 80% to “creators and CIC Digital,” an affiliate of The Trump Organization.

The meme coin is the latest fundraising effort to come out of the Trump team – which has also launched two NFT collections – Trump Digital Trading Cards on the Polygon blockchain and Trump Bitcoin Digital Trading Cards on the Bitcoin blockchain – as well as the DeFi platform World Liberty Financial on Ethereum.

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Stablecoin issuer Circle applies for a national bank charter

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Stablecoin issuer Circle applies for a national bank charter

Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.

Brendan McDermid | Reuters

Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.

Shares rose 1% after hours.

If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.

Reuters first reported on Circle’s bank charter application.

There are no plans to change the management of Circle’s USDC reserves, which are currently held with other major banks.

Anchorage Digital is the only other crypto company to obtain such a license.

Circle’s move comes after a wildly successful IPO and debut trading month on the public markets. Shares of the company are up 484% in June. The company is also benefiting from a wave of optimism after the Senate’s passage of the GENIUS Act, which would give the U.S. a regulatory framework for stablecoins.

Having a federally regulated trust charter would also help Circle meet requirements under the GENIUS Act.

“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,” Circle CEO Jeremy Allaire said in a statement shared with CNBC. “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure.”

“Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on,” he said.

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Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

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Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event on Wednesday, Sept. 25, 2024.

Bloomberg | Bloomberg | Getty Images


Meta shares hit a record high on Monday, underscoring investor interest in the company’s new AI superintelligence group.

The company’s shares reached $747.90 during midday trading, topping Meta’s previous stock market record in February when it began laying off the 5% of its workforce that it deemed “low performers.”

Meta joins Microsoft and Nvidia among tech megacaps that have reached new highs of late, all closing at records Monday. Apple, Amazon, Alphabet and Tesla remain below their all-time highs reached late last year or early this year.

Meta CEO Mark Zuckerberg has been on an AI hiring blitz amid fierce competition with rivals such as OpenAI and Google parent Alphabet. Earlier in June, Meta said it would hire Scale AI CEO Alexandr Wang and some of his colleagues as part of a $14.3 billion investment into the executive’s data labeling and annotation startup.

The social media company also hired Nat Friedman and his business partner, Daniel Gross, the chief of Safe Superintelligence, an AI startup with a valuation of $32 billion, CNBC reported on June 19. Meta’s attempts to buy Safe Superintelligence were rebuffed by the startup’s founder and AI expert Ilya Sutskever, the report noted.

Wang and Friedman are the leaders of Meta’s new Superintelligence Labs, tasked with overseeing the company’s artificial intelligence foundation models, projects and research, a person familiar with the matter told CNBC. The term superintelligence refers to technology that exceeds human capability.

Bloomberg News first reported about the new superintelligence unit.

Meta has also snatched AI researchers from OpenAI. Sam Altman, OpenAI’s CEO, said during a podcast that Meta was offering signing bonuses as high as $100 million.

Andrew Bosworth, Meta’s technology chief, spoke about the social media company’s AI hiring spree during a June 20 interview with CNBC’s “Closing Bell Overtime,” saying that the talent market is “really incredible and kind of unprecedented in my 20-year career as a technology executive.”

WATCH: Meta’s AI talent spending spree

Meta escalated talent war with OpenAI

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Joby Aviation stock pops 12% after delivering first flying taxi to UAE

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Joby Aviation stock pops 12% after delivering first flying taxi to UAE

An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023. 

Roselle Chen | Reuters

Joby Aviation stock soared about 12% as the flying air taxi maker got closer to launching a service in the United Arab Emirates.

The electric vertical takeoff and landing, or eVTOL, company said Monday that it delivered its first aircraft to the UAE and has completed piloted flight tests as it readies for a 2026 launch in the region.

“Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide,” said founder and CEO JoeBen Bevirt in a release. He called the Middle East nation a “launchpad for a global revolution in how we move.”

Joby’s planned launch in the UAE was announced in February 2024 as part of an agreement with Dubai’s Road and Transport Authority. The deal included exclusive rights to conduct air taxi service in Dubai for six years.

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As part of the project, Joby said in November that it began building one vertiport at Dubai International Airport, with three additional locations slated for Palm Jumeirah and Dubai’s downtown and marina. Joby also announced an air taxi agreement with three Abu Dhabi government departments in 2024.

The California-based company has made other expansion moves in the Middle East. Shares jumped earlier this month after Saudi Arabian firm Abdul Latif Jameel announced a roughly $1 billion investment for up to 300 eVTOLs. The firm participated in Joby’s Series C funding round.

Joby shares have surged more than 32% this year, swelling its market capitalization to over $9 billion.

Demand for air taxis, which take off and land similar to helicopters, has gained momentum in recent years. The service faces regulatory and safety hurdles but has been lauded for its ability to cut traffic congestion and slash emissions.

Earlier this month, President Donald Trump signed an executive order that included a pilot program for testing electric air taxis.

WATCH: Joby Aviation shares pop on Saudi Investment

Joby Aviation shares pop on Saudi Investment

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