Trump Trade: U.S. government weighs taking stake in Intel

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

STAKE IN INTEL: The Trump administration is in talks to have the U.S. government potentially take a stake in Intel (INTC) to support the company’s effort to expand domestic manufacturing, people familiar with the plan told Bloomberg’s Ryan Gould, Josh Wingrove and Liana Baker. The plans stem from the meeting this week between President Trump and CEO Lip-Bu Tan, noted the report, thought the size of the potential stake is not clear, added Bloomberg.

BITCOIN: Treasury Secretary Scott Bessent stated in a post to X, “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order. In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.'”

DATA ACCESS FEES: Top fintech and crypto executives are urging the Trump administration to block U.S. banks from charging fees for access to customer data, arguing that the proposed fees would “cripple” innovation and “may cause small businesses and financial tools to shut down entirely,” Bloomberg’s Paige Smith reports. Klarna (KLAR), Robinhood (HOOD), and Gemini are among a list of companies, investors, and lobbying groups that signed a letter to President Trump arguing against the fees.

“We urge you to use the full power of your office and the broader administration to prevent the largest institutions from raising new barriers to financial freedom,” they said in the letter. “We cannot allow the most powerful, entrenched banks to close the door on a more open and modern financial system.” JPMorgan (JPM) and PNC (PNC) plan to charge fees for access to customer account information, viewing data aggregators as freeloaders who access data without paying.