Tag: stock market

GOP Sen Markwayne Mullin violated Stock Act, failed to report hundred of thousands in trades

Oklahoma Republican Sen. Markwayne Mullin has filed a disclosure with the Senate that shows he failed to properly disclose hundreds of thousands of dollars in stock trades on time.

The disclosure filed Wednesday shows he was two-and-a-half years late on reporting seven stock purchases by his wife and about one-and-a-half years late disclosing three Oklahoma-connected municipal security purchases for himself, according to the news outlet NOTUS.

The Stop Trading on Congressional Knowledge Act, or STOCK Act, requires Congress members to disclose any stock, bond, or cryptocurrency trade made by themselves, spouse, or dependent child within 45 days.

“Much like tax returns, financial disclosures occasionally need to be amended to reflect the most accurate, up-to-date information. That’s what we did here,” a Mullin spokesperson told NOTUS.

The spokesperson also said the senator uses an independent, third-party operator firm that manages all stock portfolio investments on his behalf and that he neither conducts nor informs trades. 

Keep reading

Pelosi Panics on CNN When Pressed About Insider Trading

Nancy Pelosi appeared rattled and visibly annoyed during a CNN interview this week when anchor Jake Tapper confronted her with Donald Trump’s accusations of insider trading. The former House speaker had joined the program to discuss the 60th anniversary of Medicaid, but things quickly went off-script when Tapper tried to bring up Trump’s pointed remarks.

Tapper began to quote Trump, saying, “Nancy Pelosi became rich—” before Pelosi abruptly cut him off. “Why—why do you have to read that?” she snapped, clearly not happy with where the discussion was going.

Tapper attempted to defuse the tension, saying he just wanted to give her a chance to respond to Trump’s claims. But Pelosi was having none of it. “We’re here to talk about the 60th anniversary of Medicaid. That’s what I agreed to come to talk about,” she protested.

The tension only escalated as Tapper continued, “He accused you of insider trading. What’s your response to that?”

Pelosi has long faced accusations of insider trading due to her husband Paul Pelosi’s lucrative stock trades, often timed around key congressional actions. Critics allege the Pelosis have profited from privileged information, pointing to trades involving companies like NVIDIA, Apple, and Visa that coincided with legislation affecting those industries. Watchdog groups and bipartisan lawmakers have pushed for stricter regulations or outright bans on congressional stock trading. 

Keep reading

Senate committee passes PELOSI Act to ban stock trading, but now how you’d think…

The Homeland Security and Governmental Affairs Committee has just passed the PELOSI Act to ban stock trading among those in Congress, as well as the President and Vice President. It passed 8-7, with all Republicans voting AGAINST the bill except Hawley, who was joined by all Democrats on the committee.

Yes, it’s complicated.

According to taxpayer funded Politico, the Democrats joined the bill when Hawley agreed to get rid of the PELOSI Act name and expand those prohibited from stock trading to the President and Vice President. Except it will only apply to future administrations, meaning it doesn’t apply to President Trump and VP Vance.

Some Republicans didn’t like the changes, like the original co-sponsor of the bill, Ohio Republican Senator Bernie Moreno, who voted against it on those grounds. Others simply feel that the bill is flawed.

Here’s more:

A Senate committee voted to advance a bill that would ban stock trading by lawmakers, presidents and vice presidents — over objections from most Republicans and with a carve-out for President Donald Trump.

Sen. Josh Hawley (R-Mo.) introduced the original bill barring members of Congress and their spouses from trading stocks. It was named, to Democrats’ dismay, for Rep. Nancy Pelosi (D-Calif.), who has come under scrutiny for her husband’s extensive trading without evidence that any of it was done using insider information from Capitol Hill.

In conjunction with Sen. Gary Peters of Michigan, the top Democrat on the Homeland Security and Governmental Affairs Committee, Hawley offered an alternative to the panel that would ditch the contentious name and expand the prohibitions to the president and vice president — but only for future administrations.

“We have an opportunity here today to do something that the public has wanted us to do for decades, and that is to ban members of Congress from profiting on information that, frankly, only members of Congress have,” Hawley said.

The committee voted 8-7 with all Republicans on the panel save Hawley voting against proceeding with the bill. The GOP detractors argued it would unfairly punish the wealthy and disincentivize some from serving in Congress. Oklahoma Sen. James Lankford, one of the Republican nays, is chair of the Senate Ethics Committee and noted he would be responsible for enforcing the bill should it become law.

Keep reading

Pelosi raked in millions last year — and her portfolio out-performed every large hedge fund with stunning returns

She might be the She-Wolf of Wall Street.

Rep. Nancy Pelosi (D-California) raked in between $7.8 and $42.5 million in 2024 — meaning her estimated net worth with venture capitalist hubby Paul Pelosi could now top out at $413 million, new financial disclosures showed.

The staggering sum is an eye-popping jump from 2023, when financial disclosures showed the couple’s net worth topping out at a possible $370 million.

Pelosi’s exact net worth is not known because lawmakers are only required to disclose ranges.

Market research firm Quiver Quantitative, which estimates a single figure based on daily stock values it tracks, placed the pair’s 2024 worth at $257 million — up $26 million from a year earlier.

Keep reading

Trump’s $795M Data Power Play Sends Palantir Soaring 140%–But Here’s the Hidden Risk

Palantir (NASDAQ:PLTR) is riding a wave of government contracts as the Trump administration ramps up efforts to centralize and analyze federal data. Since Trump signed an executive order in March calling for more interagency data sharing, Palantir has quietly become the go-to vendor for building that digital infrastructure. The company has landed more than $113 million in new and extended federal contracts since Trump took office including a blockbuster $795 million deal with the Pentagon last week. Palantir’s Foundry platform is already in use at Homeland Security and Health and Human Services, and engineers were recently embedded at the IRS to begin building a unified, searchable database for taxpayer records. Talks are also underway with the Social Security Administration and Department of Education, suggesting more agencies could follow.

Investor enthusiasm hasn’t lagged. Since Trump’s re-election, Palantir shares have surged more than 140%, fueled by the prospect that the company may now become the digital backbone of the U.S. federal government. The Department of Government Efficiency (DOGE)a Musk-led initiativehas been instrumental in Palantir’s rise, with several DOGE members having ties to Palantir or Peter Thiel-backed ventures. The company’s tools are now being used to connect data points ranging from immigration status and bank accounts to student loans and disability claims. In April, Immigration and Customs Enforcement (ICE) awarded Palantir a $30 million contract to track migrant movements in real time another sign of how fast the government is scaling its use of Foundry.

Keep reading

Bill Proposes Ban on Stock Trading for Congress Members

U.S. Senator Mark Kelly from Arizona has put forward a bill that aims to put an end to congressional stock trading. This legislation, known as the Ban Congressional Stock Trading Act, would require all members of Congress, along with their spouses and children, to place their stocks into a blind trust or sell them off. Kelly’s office insists this move is necessary to prevent any use of insider information for personal gain.

Kelly emphasized that as Americans struggle with rising living costs, they should not have to worry about their elected officials making money through insider trading. He was clear in his statement, “The only way to stop insider trading in Congress is to stop members of Congress from trading stocks. Period.” Kelly seems confident that the American public is on his side with this issue.

Backing up his stance, Kelly referenced a survey conducted by the Program for Public Consultation at the University of Maryland. The survey found that a staggering 86% of Americans support such legislation. This includes a solid majority across political lines: 88% of Democrats, 87% of Republicans, and 81% of Independents.

Kelly is hopeful that this bill will help restore trust in the government and address some of the issues plaguing Washington. Senator Jon Ossoff from Georgia has also taken up the cause, introducing the bill alongside Kelly. Ossoff pointed out that members of Congress have unique access to confidential information, which they could potentially exploit for financial gain.

Keep reading

Coinbase Customers’ Personal Data Stolen in Hack, Stock Drops

The cryptocurrency exchange Coinbase was recently targeted in a hacking incident that led to the personal data of thousands of customers being stolen, the company said in a May 15 statement.

According to a March 31 filing with the Securities and Exchange Commission (SEC), Coinbase had 9.7 million monthly transaction users (MTU) by the end of that month.

Since the company claims that less than 1 percent of MTUs have been impacted by the hack, the number of affected individuals could be around 97,000.

Hackers got access to names, addresses, phone numbers, emails, last four digits of Social Security numbers, masked bank account numbers and identifiers, government ID images such as driver’s licenses and passports, and account data such as balance snapshots and transaction history.

Hackers did not get access to login credentials or 2FA codes, private keys, customer funds and the ability to move these funds, Coinbase Prime accounts, Coinbase or Coinbase customer hot or cold wallets.

Following the revelation, Coinbase shares crashed by 7.2 percent on Thursday.

Keep reading

Stock market watchdog claims Nancy Pelosi raked in $4.7M in single day of trading

Stock market watchdog Quiver Quantitative announced Monday that Rep. Nancy Pelosi, D-Calif., had made millions in the market since that day’s opening bell.

The representative allegedly raked in $4.7 million, according to Quiver’s estimates. It claimed that figure inflated her overall net worth to $261.9 million.

An X account dedicated to tracking Rep. Pelosi’s stock market activity added the sum amounted to 26 times her annual salary.

A representative of Rep. Pelosi’s office told The National News Desk Tuesday the former House speaker does not own any stocks, adding that the tracked account belongs to her husband Paul Pelosi.

“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” they wrote via email.

The findings come as lawmakers are renewing a push to ban members of Congress from trading stocks. Sens. Josh Hawley, R-Mo., Bernie Sanders, I-Vt., and John Fetterman, D-Pa., in 2024 voiced support for legislation to require lawmakers release control of their money by placing it in a blind trust.

Keep reading

Sen. Josh Hawley: The Pelosis Beat Every Hedge Fund with Their Stock Trading

Former House Speaker Nancy Pelosi (D-CA) and her husband, Paul, have made hundreds of millions of dollars off Nancy’s insider knowledge, but Sen. Josh Hawley (R-MO) has a plan to stop it, he told Breitbart Editor-in-Chief Alex Marlow on Thursday’s episode of The Alex Marlow Show.

Hawley reintroduced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in April to ban members of Congress and their family members from being able to trade or hold stocks.

The bill’s namesake, former Speaker Nancy Pelosi (D-CA), has made “hundreds of millions” – despite a salary never higher than just over $200,000 – since her election to Congress. Hawley said that cannot be done following the law.

“You don’t do it legally,” Hawley said of Pelosi’s acquisition of wealth. “And here’s the thing, Nancy Pelosi and her husband last year, in 2024, beat every hedge fund in the nation, practically. So, either Nancy Pelosi is a mathematical and financial analyst genius… or maybe, maybe the information that she’s privy to turns out to be pretty darn valuable.”

“And everybody knows it’s the second thing. It’s just outrageous,” he added.

Hawley’s nonpartisan bill would be enforced for both Republicans and Democrats, but Pelosi is the most notorious offender.

Hawley said for her to have that success without breaking the law and using insider information, Nancy would have to be “a total financial genius, the likes of which comes along once every I don’t know, 1,000 years.”

Hawley believes elected officials staying in elected office longer than the founders intended is connected with the problem of members exploiting the office to enrich themselves. Its “no coincidence” that “the longer they’re here, the more ways they find to make money off of their jobs,” he told Marlow.

“Members of Congress are paid a salary. That’s fine, obviously, but we’re not talking about that,” he said. “We’re talking about millions and millions and millions of tens of millions of dollars – hundreds of millions, in the Pelosi case that they’ve made while she has been in office.”

Members of Congress “leveraging the office” to get rich is “the farthest thing from what the Founders intended,” Hawley said. “And really it’s a disaster for our system if it’s allowed to continue without any kind of check.”

Keep reading

Stocks surge as White House confirms 100 countries want a trade deal with U.S.

White House spokeswoman Karoline Leavitt has confirmed that there is progress on President Donald Trump’s agenda to get fair international trade standards for American manufacturers and consumers alike.

The president launched a series of tariff battles because for years American producers have had to pay high tariffs to get their products and services into other nations, while those nation’s often have been given virtually free access to American markets.

The imbalance is what has caused America’s large trade deficit and other financial complications.

Trump’s tariffs have been producing results she said.

“We’re doing very well in respect to a potential trade deal with China. There have now been 18 proposals and more than 100 countries around the world who are wanting to make a deal with the United States of America,” Leavitt confirmed.

“The president and administration are setting the stage for a deal with China. … We feel everyone involved wants to see a trade deal happen — and the ball is moving in the right direction.”

The Daily Mail pointed out the Dow Jones Industrial Average rocketed up 600 points on the announcement. Actually, the market surged about 1,000 points on the news.

Fox News reported she continued, “You have Secretary Bessent, Secretary Lutnick, Ambassador Greer, NEC Director Hassett and Peter Navarro, the entire trade team meeting with 34 countries this week alone. We are moving at Trump speed to ensure these deals are made on behalf of the American worker and the American people.”

Keep reading