The decentralized ledger, which powers cryptocurrencies like Bitcoin and Ethereum, is being "oversold," says Jimmy Song, Bitcoin developer and entrepreneur. The technology is often touted as a silver bullet that will upgrade several industries, but that "hype and promise" has yet to be proven. On the flip side, Song is bullish on Bitcoin, which he says has stood the test of time.
For the full interview, [click here](https://cheddar.com/videos/jimmy-song-shares-his-bullish-case-for-bitcoin).
Cheddar News attended the upfront presentation by NBC Universal and broke down how this year's event was different from previous years due to the ongoing writers' strike.
Steve Sosnick, chief strategist with Interactive Brokers, joined Cheddar News to discuss Monday's light trading session ahead of debt ceiling discussions on Tuesday. Sosnick also weighed in on what the Federal Reserve could have in its sight.
General Motors (GM) has submitted a safety recall notification to the National Highway Traffic Safety Administration for 994,763 sports utility vehicles with defective airbag inflators.
Wall Street drifted higher ahead of reports that will show how much a slowing economy is hurting what’s prevented a recession so far: solid spending by U.S. households.
