Circle’s CEO & Elon Musk’s Threat to Apple 8/12/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 12 August 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

In his first interview since Circle’s IPO, Circle co-founder and CEO Jeremy Allaire explains the blockchain-native company’s first earnings report, as well as his own vision for the future of finance. Elon Musk is threatening to sue Apple over its App Store rankings of AI apps; CNBC’s Steve Kovach and contributor Michal Lev-Ram discuss Musk’s strategy and the race for AI dominance. For the new BLS commissioner position, President Trump will nominate E.J. Antoni, an economist at the conservative Heritage Foundation. Steve Kovach - 21:27 Michal Lev-Ram - 26:42 Jeremy Allaire - 34:12 In this episode: Michal Lev-Ram, @mlevram Jeremy Allaire, @jerallaire Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Coming up today on Squawk Pod.
0:10.0	The Future of Finance with Circle's co-founder Jeremy Allaire in his first earnings interview since his crypto-native company went public.
0:18.0	The validation that we've seen in Circle and the sentiment around Circle is really about
0:23.7	people understanding, I think in some cases for the first time, that the internet is colliding
0:29.5	with the financial system.
0:32.3	Elon Musk threatening to sue Apple over XAI's position in the App Store recommendations, CNBC's Steve Kovac.
0:39.5	This really, guys, follows a pattern we've been seeing with Musk, where if things don't go his way, he likes to kind of sue or at least threaten to sue.
0:47.3	And contributor Mihal Lev Rahm on the legal standing.
0:50.3	You know, Musk could have a case. I think what he's really like unleashed here, though,
0:55.2	is some real frustrations with Apple's AI strategy. Plus, all that glitters in gifts to the Oval
1:03.0	office. I mean, to move a gold bar, you need to put some elbow. Have you ever seen the guns
1:08.3	on Tim Cook? This guy has arms. And a new head of the Bureau of Labor Statistics named... You'd rather have one of our left-leaning guests on the vehicle. No, I don't. I'm not suggesting that. You want someone perfectly right in the middle. And who is that? I want somebody who people think is... Beside you, who is that. At a time when trust and numbers don't always align.
1:28.5	I think that crime in D.C. is actually down.
1:30.9	It's not. I don't believe it.
1:32.6	You don't believe it?
1:34.4	It's Tuesday, August 12th. Squawk Pod begins right now.
1:39.0	Stand and under by in three, two, one, cue Andrew.
1:44.9	Good morning and welcome to Squackbox right here on CNBC.
1:48.3	We're live at the NASDAQ market site in Times Square.
1:50.3	I'm Andrew Ross Sorkin along with Joe Kernan.
	...

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