Trump Reports at Least $1.4B in 2025 Crypto Earnings | Balance of Power 07/01/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Republican Congressman Mike Flood of Nebraska says he has an "open mind" to adding ethics provisions to crypto market-structure legislation, including limits on executives or family members operating in the space. Michael Cadenazzi, Assistant Secretary of Defense for Industrial Base Policy, says the U.S. defense industrial base has suffered from decades of insufficient attention to capacity, leaving the country with bottlenecks, single-source risks and dependence on foreign suppliers. Richard Painter, former chief White House ethics lawyer under President George W. Bush, says President Donald Trump's crypto ventures could violate the Constitution's foreign emoluments clause if foreign government money is involved, and calls his holdings a "clear conflict of interest" as his administration regulates the industry. Chapters: 00:01:39 Bloomberg’s Alicia Diaz on US Decides Against Renewing USMCA, Shifts to Rolling Talks 00:04:02 Representative Mike Flood (R-NE) on US Decides Against Renewing USMCA 00:05:09 Rep. Mike Flood (R-NE) on House Departs Washington for Recess as GOP Fights Stall Agenda 00:07:06 Rep. Mike Flood (R-NE) on Clarity Act Stalls in the Senate After Passing in the House 00:09:52 Rep. Mike Flood (R-NE) on Trump Holds Housing Bill in Limbo Over SAVE Act 00:15:51 Power Moves: Top Financial Moves 00:18:52 Michael Cadenazzi, Assistant Secretary of Defense for Industrial Base Policy, on US Sees NATO With Benefits for Countries That Spend More on Arms 00:20:27 Michael Cadenazzi on White House Invokes Defense Production Act Authority Around Munitions Bottlenecks 00:24:48 Bloomberg’s Jeff Mason on Trump Crypto Profits Pose Risk to Clarity Act 00:27:49 Richard Painter, Former Chief White House Ethics Lawyer, on Trump Reports at Least $1.4B in 2025 Crypto Earnings 00:29:49 Richard Painter on Trump Outearned Biggest Listed US Crypto Firms in 2025 00:34:35 Richard Painter on Trump Takes First Flight on New Presidential Plane Gifted by Qatari Government 00:38:10 Political Panel Reacts: Colorado Dem Primary, SCOTUS Voids Political-Party Spending Caps, Tight Races in Battle Ground States Poll, SAVE Act -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X:   / bloombergtv   Facebook:   / bloombergtelevision   Instagram:   / bloombergtv   Connect with Bloomberg Business on: X:   / business   Facebook:   / bloombergbusiness   Instagram:   / bloombergbusiness   TikTok: https://www.tiktok.com/@bloombergbusi... Reddit:   / bloomberg   LinkedIn:   / bloomberg-news   More from Bloomberg: Bloomberg Radio:   / bloombergradio   Bloomberg Surveillance:   / bsurveillance   Bloomberg Politics:   / bpolitics   Bloomberg Originals:   / bbgoriginals   Watch more on YouTube: Bloomberg Technology:    / @bloombergtechnology   Bloomberg Originals:    / @business   Bloomberg Quicktake:    / @bloombergquicktake   Bloomberg Espanol:    / @bloomberg_espanol   Bloomberg Podcasts:    / @bloombergpodcasts