Plus: Coinbase Global will allow users to request shares of upcoming initial public offerings. And CNN, MS NOW and Politico are suing the Trump administration after their journalists were barred from the White House. Anthony Bansie hosts.
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[00:00:01] Here's your morning TNB Tech Minute for Monday, September 21. I'm Anthony Bansi for The Wall Street Journal. Bitcoin has surged above $85,000 today, hitting an eight-month high. The flagship cryptocurrency is continuing its red-hot rebound after an uplift of nearly 6% last week when investors shrugged off two potential hurdles, the failure of the Clarity Act and the Federal Reserve's quarter-point interest rate hike.
[00:00:27] It's now up by more than 30% since August 19. Investors are looking to the planned summit between President Trump and Chinese President Xi Jinping on Thursday. Any progress made to ease trade tensions between the two could boost sentiment for risk assets like cryptocurrency. Coinbase Global said it's allowing users to request shares of upcoming initial public offerings.
[00:00:49] The U.S. crypto exchange said starting this week, requests can be made in the Coinbase app, which may be filled in full, in part, or rejected, depending on demand. Eligible users can start with smart ringmaker Aura's IPO this week. Coinbase said its allocation algorithm will prioritize long-term investors. The move is another example of Coinbase's ambition to become an everything exchange.
[00:01:13] Since last year, the company has been expanding outside of crypto, adding products from stock trading to prediction markets. And CNN, MSNOW, and Politico are suing the Trump administration after journalists were denied entry to the White House and excluded from the TV press pool. In a joint statement today, the news outlet said they were filing the suit to protect their First Amendment rights, saying the White House had revoked their journalists' credentials without notice or process because it objected to their reporting.
[00:01:43] Trump said Friday he was banning reporters from the White House while criticizing their coverage of his administration. He said he intended to bar other outlets from entry in the future. The president's actions marked a further escalation in his clashes with the news media and efforts to limit press access to his administration. And that's your TNB Tech Minute. We'll be back this afternoon with more.