A Sweet Deal for Smucker, Biden’s Asia Trip, & A Lightning Bet on Bitcoin 9/11/23

U.S. President Joe Biden has called on G20 leaders to further support the World Bank and other multilateral development banks to increase their ability to support low and middle-income countries. Biden has previously said that developing countries need to reduce their dependence on China and help them recover from the effects of Russia’s war on Ukraine. Deputy Treasury Secretary Wally Adeyemo discusses the President’s recent trip to Asia, as well as China’s economic weakness and Xi Jinping’s leadership. After leading PayPal, Facebook messenger, and Meta’s payments venture, David Marcus has co-founded Lightspark, a bitcoin-based payments network built on the Lightning network. He shares his take on the current state of crypto and on a new era of a maturing bitcoin. Plus, Smucker has agreed to pay $5.6 billion to acquire Hostess Brands, and 19-year-old Coco Gauff became the latest Black American woman to leave a history-making mark on the most sacred grounds of U.S. tennis.

Wally Adeyemo - 10:50

David Marcus - 25:37

In this episode:
David Marcus, @davidmarcus
Wally Adeyemo, @TreasuryDepSec
Andrew Ross Sorkin, @andrewrsorkin
Joe Kernen, @JoeSquawk
Becky Quick, @BeckyQuick

Katie Kramer, @Kramer_Katie