Crypto News: The State of the Union, according to Trump

Good morning. Trump defends his economic policies in the State of the Union address, while accusing Iran of reviving its nuclear program. And Harvard's massive real estate bet runs into roadblocks. Listen to the day's top stories.

— Marc Perrier

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Donald Trump delivered a strident defense of his economic record, proclaiming the nation "bigger, better, richer and stronger than ever before" during a State of the Union address that downplayed concerns about affordability. Here are the key takeaways from the speech.

The president also issued another warning to Iran, claiming the country is reconstituting its nuclear program and officials are "again pursuing their sinister ambitions." While the comments added to speculation about potential US military action, Trump also reiterated his desire for a diplomatic solution.

Trump Pledges New Retirement Savings Plan for Workers Without 401(k)s

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Stocks rose as fears about the disruptive impact of artificial intelligence eased after weeks of turmoil. Investors, still shaken by this week's selloff, welcomed the reprieve. The 33-year-old co-author of a report outlining a dystopian AI future that sparked the rout said he was shocked his prediction provoked such a reaction.

In corporate news, payment processing firm Stripe is said to be considering an acquisition of all or parts of PayPal. Anthropic—known for its commitment to AI safeguards—has relaxed its central safety policy in an effort to stay competitive. And AMC, the world's largest cinema chain, plans to close additional theaters as it sees greater value in shrinking than growing.

Kash Patel Photographer: Aaron Schwartz/Bloomberg

A whistleblower alleged that FBI Director Kash Patel's use of government aircraft delayed agents' response to incidents, including forcing them to drive to a shooting scene at Brown University. The allegation comes days after Patel was seen celebrating with the gold medal-winning US men's Olympic hockey team in Italy on Sunday, a trip that drew fresh criticism after an armed intruder was fatally shot attempting to breach Trump's Mar-a-Lago estate the same weekend.

The Big Take

Harvard's new Enterprise Research Campus in the Boston neighborhood of Allston. Photographer: Tony Luong

Harvard's decades-long dream of transforming Boston's Allston neighborhood into a Silicon Valley-like innovation hub has stalled. A biotech downturn and pulled federal funds have stymied the university's property bet in the area—while nearby MIT has thrived.

Bloomberg Originals

Harvard's Real Estate Headache

Opinion

Photographer: Christopher Furlong/Getty Images

The concept of "net zero" is effectively dead, but don't mistake that for the end of renewable energy, Javier Blas writes. It may cut emissions toward 25,000-30,000 million metric tons by 2050. Just don't expect zero.

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.

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The Reignwood Park development in Pathum Thani, Thailand. Photographer: Valeria Mongelli/Bloomberg

Thailand's luxury real estate market is going global. Reignwood is stepping up overseas marketing for its $1.6 billion development near Bangkok, hoping foreign buyers will pick up the slack as domestic demand cools and unsold homes pile up.

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