BREAKING: Ruben Gallego Introduces Bill Demanding DOJ Release Epstein Files–Then Mullin Blocks It

CNBC was left holding the bag on Friday when Elon Musk abruptly backed out of a live, heavily promoted interview moments before it was set to air, as SpaceX shares slid below the price of their first public trade.

The network had spent the morning teasing the sit-down, billed as Musk's first television interview since SpaceX went public. Anchor Scott Wapner threw to correspondent Julia Boorstin at the Allen & Co. gathering in Sun Valley, Idaho, to explain why it suddenly wasn't happening.

"We've been promoting this exclusive interview that Elon Musk was expected to give to our Julia Boorstin, which is now apparently no longer happening. I want to bring in Julia Boorstin, who's been in Sun Valley. Julia, do you want to explain to us exactly what happened here, as this was imminent?" said Wapner.

"Yeah, we were expecting to start an interview with Elon Musk right now at noon Eastern. We just got word that he has to postpone," Boorstin replied, adding that the network hopes Musk will offer a new time.

Boorstin noted that SpaceX shares were trading below the level of their very first trade and well off the highs the stock reached after its record June debut. As she spoke, shares were off nearly 3% at around $148. SpaceX priced its IPO at $135 and opened at $150 on June 12 before surging in its opening sessions, then slipping back below that opening level as it was pulled into major market indexes.

She said there was plenty she had hoped to raise, including Grok 4.5, the AI model Musk's company launched Wednesday, and how SpaceX is holding down customer prices as component costs climb. That thread would have followed a CNBC interview a day earlier with OpenAI's Sam Altman about efficiency gains in his company's newest models.

Wapner called it an unfortunate development and said the network would report any update.

States are being pressured into rewriting their election rules to receive terrorism grants, according to a New York Times report.

The Trump administration is demanding that states overhaul how they run elections, a few months before the midterms, or forfeit tens of millions in federal counterterrorism funding, The Times reported.

The changes include transitioning to hand-marked paper ballots, verifying the citizenship of voters, and conducting manual audits of 5 percent of ballots, which is "likely to cause significant delays in counting, cost millions of dollars and, in some cases, fall far short of what would be considered an adequate audit for races with narrow margins," The Times noted.

The measures demanded by the Trump administration "will actually harm election security," David Becker, who directs the Center for Election Innovation and Research, told The Times.

The Federal Emergency Management Agency (FEMA), which is part of the Department of Homeland Security (DHS), wants states to provide "proof of compliance" to receive counterterrorism funding, The Times reported. FEMA is threatening to withhold 20 percent of certain terrorism-preparedness grants, totaling roughly $1 billion a year. Those grants pay for security barriers, cybersecurity protections, planning, and drills, The Times reported.

According to the Times, the grants largely flow to populous states, and New York is slated to receive about $204 million through those grants in fiscal year 2026. Gov. Kathy Hochul (D-NY) accused the Trump administration of putting residents at risk to advance a political agenda, The Times reported.

Courts have repeatedly blocked similar attempts, ruling that the Constitution gives the executive branch no authority over elections, which states run and Congress oversees. The Times noted, pointing out that two Trump executive orders seeking sweeping election changes have largely been struck down.

Becker told The Times that he expects the election rules the Trump administration is pushing to collapse in court. DHS said in an unsigned statement that election security was a top priority, according to The Times.