Illinois state legislators are crafting legislation to help the state welcome innovation in cryptocurrency. Illinois state Rep. Michael Zalewski (D) explains the market opportunity he sees in this space.
"It has the chance to make government a little more efficient and user friendly," said Zalewski about the power of blockchain technology. "It's appealing to us because it allows us to hold information in an individualized way."
Zalewski says its important as lawmakers to foster growth in this booming industry. Chicago, Illinois is home to the first Bitcoin futures contracts CBOE and CME.
Ross Mayfield, Investment Strategy Analyst at Baird, joins Cheddar News' Closing Bell, where he breaks down a very up-and-down week on Wall Street that included a late Friday rally to send the major indexes sharply higher on the day.
NFT art platform TRLab recently raised $4.2 million in funding. TRLab launched just last year but says its platform focused on NFT curation and distribution is growing quickly. The company hopes to bridge traditional and digital art worlds and help artists explore NFTs as an emerging medium. TRLab co-founder and chairwoman Xin Li-Cohen and co-founder and CEO Audrey Ou joined Cheddar News' Closing Bell to discuss.
Chris Vecchio, senior analyst at DailyFX, joins Cheddar News to discuss what investors should watch as the three major indexes see wild swings all week.
Diageo, one of the largest distillers in the world, recently reported its global sales have surpassed pre-COVID levels. Debra Crew, the company's North American president, joined Cheddar to discuss the surging sales, supply chain disruptions, and its efforts in non-alcoholic beer and spirits. "We had growth across all five regions," Crew said. "A year ago that wasn't true. This was really more of a North America recovery story. This year you really see this across the globe, people returning back in. On premise reopening really helped us." The producers of Don Julio tequila and Ketel One vodka also opened a new carbon neutral distillery in Lebanon, Kentucky.
