Ken Sweet

I’m the banking reporter for The Associated Press. I was a @Bagehot fellow at @Columbia from 2024-2025. I am writing a book.

[Josh Eidelson @josheidelson]

New @BW feature: A landmark case was unearthing new revelations about Amazon's intimate, intensive regulation of drivers it claims aren't its employees. Then Trump put Amazon's former lawyer in charge https://t.co/WhkEoRk0JF

Based on 1000s of pages of records and 50+ interviews

[Liz Hoffman @lizrhoffman]

Reminder that the ability to confidentially file for an IPO was a 2012 rule change meant to ease small companies (revenue < $1b) to the markets. It was later expanded but what are we even doing here

[Ken Sweet @kensweet]

If this isn’t an advertisement for @BondVetClinic, I don’t know what is.

[rat king 🐀 @MikeIsaac]

because every big tech exec felt caught behind the eight ball after OpenAI’s rise, data an intellectual property was ultimately written off as a *legal expense* rather than a licensing issue

https://t.co/VdREKdLBP6

[Ken Sweet @kensweet]

@conorsen A 64gig ram stick is $700

[Nick Timiraos @NickTimiraos]

One reason the U.S. doesn't have large-denomination notes is that big bills make it easier to move and hide large amounts of cash. The largest denomination currently issued is the $100 bill.

The Nixon administration cited low usage when retiring the $500–$10,000 notes in 1969, but since then, the policy rationale against reintroducing bigger denominations is that high-value notes are a tool for money laundering, tax evasion, drug trafficking, and corruption. The idea is they let you move and store large sums with far less bulk. The ECB followed the same logic in 2016 when it stopped issuing the €500 note, citing concerns it was being used for illicit activity.

[Ken Sweet @kensweet]

Also the general reason why we don’t have bills above $100 is because big bills are counterfeited.

The EU stopped printing €500 banknotes in 2019 for this exact reason.

[Ken Sweet @kensweet]

31 USC 5114:

Engraving and printing currency and security documents,

subsection b:

“Only the portrait of a deceased individual may appear on United States currency and securities. The name of the individual shall be inscribed below the portrait.”

[Jonathan Lemire @JonLemire]

Trump appointees push $250 banknote with his portrait https://t.co/uQSRlCBvxt

[Andrew Ackerman @amacker]

Crypto and prediction markets have achieved a level of regulatory capture atop the CFTC that TradFi could only dream of obtaining.
https://t.co/bwjAsZOLWy

[Ken Sweet @kensweet]

@mikesisak @jruss_jruss @AP Very well deserved.

[Mike Sisak @mikesisak]

Awful news. Howard Fendrich was one of the giants in tennis and sports journalism. The grand slams won't be the same. Praying for his family and loved ones.
https://t.co/JmdBnZezjt

[Ken Sweet @kensweet]

@robblackwellAB @EamonJavers @Phil_Mattingly It remains a point of pride in my career to be called an idiot by Frank and then he answered my question in detail.

[Ken Sweet @kensweet]

WASHINGTON (AP) — Barney Frank, the longtime Democratic congressman and leading liberal who brought new visibility to gay rights and crafted the most significant reforms to the financial system in a generation, has died. He was 86.

[Seung Min Kim @seungminkim]

WASHINGTON (AP) — Trump administration announces $1.7 billion fund to compensate prosecuted allies after dropping lawsuit against the IRS.

[Conor Sen @conorsen]

Andy Sachs gushing about the 4-part series on the inner workings of the Federal Reserve she did means she’s definitely in a groupchat with Nick/Jeanna/Neil/Victoria/Colby.

[Ken Sweet @kensweet]

Devil Wears Prada 2 is like watching a journalism snuff film but I enjoyed it.

[Sophie Austin @sophieadanna]

A very sad day https://t.co/eIBGmL3Qmq

[Rachel Tobac @RachelTobac]

Just worked w/ @CNN on a piece about why I wouldn't upload full financial docs (tax docs, statements, etc) to AI tools due to leakage & hacking risk.
I don't recommend connecting bank accounts to AI tools. It becomes a 1 stop shop for attackers looking to drain your accounts🤖💸

[Mike Sisak @mikesisak]

The @AP's coverage of the Butler assassination attempt was a finalist for the Pulitzer Prize for Breaking News. Three people I worked with on that coverage are now gone from AP via layoffs or buyouts, taking with them great skill, sourcing and decades of institutional knowledge.

[Jim Mustian @JimMustian]

NEW: FBI Director Kash Patel went on a "VIP Snorkel" at USS Arizona on Hawaii stopover, military emails show

“It's like having a bachelor party at a church" Marine veteran tells @AP

w/@etuckerAP @NewsDudeAP

https://t.co/RkkXqD2DDi