In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China’s Ministry of State Security recruits experts in the West — and why intelligence officers shouldn’t keep their secrets backed up to the cloud.

In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China&rsquo;s Ministry of State Security recruits experts in the West &mdash; and why intelligence officers shouldn&rsquo;t keep their secrets backed up to the cloud.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

Big Take Asia

The Sixth Bureau, Episode 2: The Spy’s Diary

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/05b0e56a-e45c-47d5-bc34-b3f0004e16c4/transcript

How did Tether — the largest stablecoin issuer in the world — go from fighting stablecoin regulation to supporting the Genius Act? That’s the subject of a new Bloomberg News investigation into how Trump insiders helped to loosen safeguards and shape the process that led to the law in ways that benefitted the company.

On today’s Big Take podcast, Bloomberg’s Anthony Cormier and David Kocieniewski detail their reporting for host Sarah Holder, including how US Commerce Secretary Howard Lutnick, according to court filings, ‘managed to kill’ less favorable legislation before taking office, and how former White House aide Bo Hines defended a provision Tether wanted – before going to work for the company.

Read more: How Tether Benefited as Trump Insiders Shaped First US Crypto Law

Further listening: Meet Tether, The Most Powerful Crypto Firm You’ve Never Heard Of

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by David Fox; Reported by Anthony Cormier, David Kocieniewski and Annie Massa; Edited by Aaron Edwards, Tracey Samuelson.

Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger, Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

How did Tether &mdash; the largest stablecoin issuer in the world &mdash; go from fighting stablecoin regulation to supporting the Genius Act? That&rsquo;s the subject of a new Bloomberg News investigation into how Trump insiders helped to loosen safeguards and shape the process that led to the law in ways that benefitted the company.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Anthony Cormier and David Kocieniewski detail their reporting for host Sarah Holder, including how US Commerce Secretary Howard Lutnick, according to court filings, &lsquo;managed to kill&rsquo; less favorable legislation before taking office, and how former White House aide Bo Hines defended a provision Tether wanted &ndash; before going to work for the company.
Read more: <a href="https://www.bloomberg.com/features/2026-howard-lutnick-bo-hines-trump-tether-crypto-law/">How Tether Benefited as Trump Insiders Shaped First US Crypto Law</a>
Further listening: <a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000760323601">Meet Tether, The Most Powerful Crypto Firm You&rsquo;ve Never Heard Of</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by David Fox; Reported by Anthony Cormier, David Kocieniewski and Annie Massa; Edited by Aaron Edwards, Tracey Samuelson.
Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger, Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Trump Insiders Who Shaped US Crypto Regulation That Benefitted Tether

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/01ed200d-d9bc-433b-94e9-b48f014ee4f7/transcript

When a 1,000-year-old Cambodian statue came up for auction at Sotheby’s in New York, it sparked off an investigation that uncovered one of the world’s most extensive art trafficking networks.

On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Matthew Campbell and American lawyer Bradley Gordon on how Cambodia’s looted treasures ended up scattered around the world and what it takes to bring them home.

Read more: Chasing the Man Who Stole the Gods

Watch, from Originals: Cambodia to Museums: We Want Our Statues Back

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by K. Oanh Ha; Produced by Naomi Ng; Reported by Matthew Campbell; Edited by Aaron Edwards. Fact-checking by Victor Swezey and Yang Yang; Engineering by Taka Yasuzawa and Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. Photo by Agnes Dherbeys/The New York Times/Redux

When a 1,000-year-old Cambodian statue came up for auction at Sotheby&rsquo;s in New York, it sparked off an investigation that uncovered one of the world&rsquo;s most extensive art trafficking networks.
On today&rsquo;s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg&rsquo;s Matthew Campbell and American lawyer Bradley Gordon on how Cambodia&rsquo;s looted treasures ended up scattered around the world and what it takes to bring them home.
Read more: <a href="https://www.bloomberg.com/features/2026-cambodia-man-who-stole-the-gods/?srnd=undefined">Chasing the Man Who Stole the Gods</a>
Watch, from Originals: <a href="https://www.youtube.com/watch?v=L1ofad6bfwo">Cambodia to Museums: We Want Our Statues Back</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by K. Oanh Ha; Produced by Naomi Ng; Reported by Matthew Campbell; Edited by Aaron Edwards. Fact-checking by Victor Swezey and Yang Yang; Engineering by Taka Yasuzawa and Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. Photo by Agnes Dherbeys/The New York Times/Redux

Chasing the Ancient Stolen Statues of Cambodia

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8ef6ef6d-bec5-4570-8cb0-b48e01415487/transcript

From celebrity wedding details to the timing of military strikes, prediction markets have opened the door to gambling on almost anything. They’ve also created a new class of insider trader that platforms and US regulators are racing to stop.

On today’s Big Take podcast, Bloomberg’s Denitsa Tsekova and Leonardo Nicoletti join host Sarah Holder to break down a $200 million surge in unusual bets on Polymarket — and explore what it will take for regulators to rein them in.

Read more: Prediction Markets Are Minting a New Type of Insider Trader

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky and Victor Swezey; Reported by Denitsa Tsekova and Leonardo Nicoletti; Edited by Aaron Edwards and Julia Weaver.

Fact-checking by Victor Swezey, Laura Newcombe and David Fox; Engineering by Emma Munger.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

From celebrity wedding details to the timing of military strikes, prediction markets have opened the door to gambling on almost anything. They&rsquo;ve also created a new class of insider trader that platforms and US regulators are racing to stop.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Denitsa Tsekova and Leonardo Nicoletti join host Sarah Holder to break down a $200 million surge in unusual bets on Polymarket &mdash; and explore what it will take for regulators to rein them in.
Read more: <a href="https://www.bloomberg.com/graphics/2026-polymarket-traders-who-knew-the-future/?srnd=homepage-americas">Prediction Markets Are Minting a New Type of Insider Trader</a>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky and Victor Swezey; Reported by Denitsa Tsekova and Leonardo Nicoletti; Edited by Aaron Edwards and Julia Weaver.
Fact-checking by Victor Swezey, Laura Newcombe and David Fox; Engineering by Emma Munger.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Polymarket and Kalshi Grapple With A New Class of Insider Trader

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ca3b624b-a9fa-4861-83e9-b48d01577951/transcript

The Sixth Bureau, Episode 2: The Spy’s Diary

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