Taming Crypto’s Wild West; Target Feels a Profit Squeeze 6/7/22

Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) have introduced bipartisan legislation that would overhaul the regulatory framework for cryptocurrencies and digital assets. The two share details of their plan, how the SEC and the CFTC would fit into it, and how “rules of the road” would benefit both investors and the economy at large. Target is warning investors of a hit to profits next quarter, as the company manages inventory, inflation, and freight cost issues. Longtime retail watcher Jan Kniffen, CEO of J. Rogers Kniffen WWE, explains how the retailer got to this point, and projects how long the pain will last. Plus, the SEC is eyeing new rules for the stock market, Elon Musk is threatening to walk away from his own deal to buy Twitter, and Apple has unveiled some of its newest features for users. In this episode: Sen. Cynthia Lummis, @CynthiaMLummis Sen. Kirsten Gillibrand, @SenGillibrand Jan Kniffen, @JRogersK Ylan Mui, @ylanmui Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY