Crypto News: Warrior dividends

Good morning. 'Warrior dividends' are headed for US service members. BP gets a female CEO, a first for Big Oil. And Texas is where the US is at in its 250th year. Listen to the day's top stories.

— Angela Cullen

Markets Snapshot

S&P 500 Index Futures

6,811.5

+0.49%

Nasdaq 100 Index Futures

25,105.25

+0.83%

Bloomberg Dollar Spot Index

1,207.91

+0.05%

Market data as of 07:14 am EST.

View or Create your Watchlist

Market data may be delayed depending on provider agreements.

Checks in the mail. Donald Trump said "warrior dividends" of $1,776 are headed to 1.45 million service members, as he sought to reassure Americans worried about rising living costs. That debate will get fresh impetus later today with the first US CPI data in nearly two months. Trump also said he'll soon name a new Fed chair—one backing lower rates—and unveil "some of the most aggressive housing reform plans in American history."

The US approved an arms package for Taiwan worth up to $11 billion, one of its largest ever, in a move unlikely to sit well with China, which views it as a breakaway province. Beijing, meanwhile, sided with Venezuela after Trump ordered a blockade of sanctioned oil tankers moving in and out of the country, denouncing the move as "unilateral bullying." A hoard of Venezuelan crude sitting on tankers at sea may give Chinese refiners a short-term buffer if tensions escalate.

BP tapped Meg O'Neill as its new CEO, making her Big Oil's first female chief. The industry veteran—who spent two decades at Exxon and most recently ran Woodside Energy—takes the helm in April. Pressure is rising for a turnaround at BP, and O'Neill's appointment signals more than a leadership change—it's a bet on a course correction back in favor of fossil fuels.

BP Appoints Meg O'Neill as New CEO

Watch the Video

An upbeat forecast from chip maker Micron stemmed a tech selloff that reflected growing doubts about whether AI leaders can keep justifying sky-high valuations and spending. That doesn't appear to have rattled OpenAI, which has reportedly held talks to raise up to $100 billion, giving it a $750 billion valuation.

Bitcoin's most entrenched investors are still cashing out though—and the pressure is starting to show. More than two months after the token hit a record high above $126,000, Bitcoin has fallen nearly 30% and is struggling to find support. One reason: its long-time holders haven't stopped selling. Coins held for years are being divested at some of the fastest rates in recent memory.

Deep Dive: Hasbro's 'Magic' Growth Potion

Exodus, one of Hasbro's big video-game bets, has been in development since 2019 Photographer: Hasbro

Game on. As traditional toy and game sales slow, Hasbro has unlocked a powerful growth engine in fantasy worlds and digital realms. Role-playing hits like Dungeons & Dragons, trading card games like Magic: The Gathering, and an expanding slate of digital and video games are driving momentum.

Tariffs on imports from China have squeezed margins across the US toy and games industry, and Hasbro estimates a $60 million hit to its net profit in 2025. Finance chief Gina Goetter says the company is diversifying its manufacturing base to counteract these headwinds.
CFOs like Goetter are increasingly central to shaping big-picture corporate strategy and, since joining Hasbro in 2023, she's moved quickly—cutting costs and streamlining operations. Watch our full interview here.

The Big Take

Ivana Krajcinovic photographed at her home in Alameda, CA. Photographer: Nate Ryan

Cancer capitalism. Hundreds of US hospitals are marking up old cancer treatments—in some cases hundreds of times what Medicare pays. "They do it because they can get away with it," said one health care delivery exec. Check out our full series of stories on how the hunt for profit can harm cancer patients.

Big Take Podcast

Many Cancer Drugs Don't Actually Extend Life

Opinion

Photographer: Yuri Gripas/Abaca

Susie Wiles is looking dispensable, and it's all her own doing, says Nia-Malika Henderson. Trump's chief of staff has previously said she doesn't like people who want to be stars, but that's exactly what she made herself.

More Opinions

Hal Brands

The US Is Giving Its Enemies What They Want

Minxin Pei

Want to Make America Great Again? Try Copying China

Play Alphadots!

Our daily word puzzle with a plot twist.

Today's clue is: Pricey diamond export from Japan

Play now!

Before You Go

Stockyards rodeo Photographer: Manoo Sirivelu for Bloomberg Businessweek

All y'all. To understand America in 2026, go to Texas. From tech billionaires and FIFA crowds, to rodeos and roadside antiques, the Lone Star State captures the forces shaping the US in its 250th year. If California is the country's future, Texas is where we are now.

A Couple More

Tesla Drivers Are Buying Escape Tools and Cars to Avoid Getting Trapped Inside

The Chinese-Made Drones Used by US Police Face a MAGA-Fueled Reckoning

Bloomberg Invest: Join the world's most influential investors and financial leaders in New York on March 3-4. This flagship event examines how AI disruption, geopolitical uncertainty, shifting central bank policy and the convergence of public and private markets are reshaping global finance. Learn more here.