coinbase, coinbase shares are surging thanks to the run up in crypto prices. >>> bizarre hostile takeovers place three days on the open market. details ahead. >>> and rod stewart has reportedly sold the rights to his music catalog for around $100 million. no, i don't think you're sexy. it's friday, february 16th, 2024. >> if you think i'm sexy and you want my body. >> i don't and i don't. "squawk box" begins right now. >>> good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew is off today. it is friday and we're burning into the friday ahead of the three-day weekend. you will see futures are mixed. dow futures off 32 points. the nasdaq is indicated up triple digits. you have the s&p 500 indicated up 12 points. let's look at the treasury yields. we are doing well for the week. if you look at the treasury yields, the ten-year

coinbase is a little bit leveraged to the alt coins and alt coins are out performs coinbase is goingse, totally crypto adoption growing. bitcoin is a bet on just bitcoin. >> john, thanks for your time. appreciate it. >> of course. thanks for having me. >>> still to come, starbucks unveiling a new design for its stores today. will it help the stock after three years of under performance. we'll discuss next. don't go anywhere. - "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. and they all wanted to stay in that home. - [announcer] if you're 62 or older and own your home, you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-fr

big jump for coinbase.hat is that to do with the resurgence in bitcoin and the fact the value has gone up and the market cap back to $1 trillion again. >> the investors are celebrating the company has turned a profit for the first time in two years. that is down to the cost cutting measures last year with the reduction of head count and layoffs last year and making the business more efficient. the second part is the crypto market last year with bitcoin up 150% last year. some of that brought traders back to the market with coinbase. you saw the transaction volumes jumping significantly in the fourth quarter. the third part of the equation is etfs. the excitement of the etfs. the concern of the advent of etf might take business away from coinbase. coinbase is a custodian to 8 of the 11 issuers there. what was interesting is overall transaction volume for 2023 on coinbase is down versus 2022 despite the jump in the market. that speaks to a broader theme here and conversations i have had with the industry and

we will see if that improves the expense elements for coinbase.e is in a legal battle with the sec which are suited for operating on up -- unregistered security. >> roku , the stock reaction, set us up. >> that stop swings, the shares plummeted tuesday on reports walmart is in talks to buy visio , but shares a 57% up, better than expected third quarter earnings results and shares did more than double last year. this quarter, the projection for roku, smaller loss than the earlier , revenue is expected to grow by 11.5%. a key number to watch is active accounts which is projected at 79 million. investors are watching to see if the last quarter's advertising readout continues. analysts are concerned that if a walmart is you get what pose a meaningful challenge to best advertising business for roku but hopefully the company's guidance for the quarter is conservative. >>> joe, in the time we have, etf holds, applied materials and trade desk, we will hear from them after the close. what are your thoughts? >> different feeling on each one of those. >> wit

ed: coinbase earnings out after the bell but shares have jumped after receiving an upgrade. bitcoin holding above $52,000. caroline: hedge funds buying into some of the biggest names in tech. amazon, intel and nvidia among the favorites. they will include the winners and losers. first llama -- first, let us check in on a key loser. temenos in europe says that it is confident in the strength of their operations and financial cats position as well after a short note was put out. six is the benchmark manager and it is time and knows is -- temenos is suspended from training. let us get back to the macro picture aside from what is happening in europe. we are off by .2% with big names coming off of a record high. the two year -- year yields diving as we get retail data. retail sales falling a little bit lower than what has been anticipated. maybe the fed does cut. we are looking at dollar versus japanese yen. all of the g10 currencies. notable against the yen. this is for japanese economy is falling into a reception. let us look at what is happening in the world of crypto because

tom: that's a coinbase story. we zoom out.s been happening with bitcoin influences what's happening with coinbase, to a large extent. that cryptocurrency is back to a trip -- back to a trillion dollar market. what was the outlook for markets and investors around the cryptocurrency for the rest of the year? >> once the spot etf's were announced, there was a bit of a selloff in the market, that was more or less expected. everybody saw etf's to be net positive for bitcoin. we are seeing that play out right now. since the launch of the etf's, we have seen more than $10 billion worth of net inflows for these products at the moment, where as the current rally that we have seen this year so far, there are structured headwinds for the cryptocurrency and it points out we have the bitcoin due in april. that usually precedes with the token reaching an all-time high as we have seen with the past cycles over the last 13 years. bitcoin trading around 50 $2000. -- $52,000. it is far from its all-time high. it's all the in november of 2021. i

let's kick it off with coinbase.king, nearly 30% the past month, all part of the crypto rally. the street expects going to see an uptick in trading volumes but they're also facing more competition from robinhood, and fidelity, and maybe others, and the surge of bitcoin atf's. chris, would you play coinbase? >> thanks, brian. it's good to be back with you again. not only is the stock up 30% last month, it's up 100 20% since october. so the numbers this afternoon aren't going to matter as much as the company commentary on exactly what you are talking about. all the sudden we're in the new world of bitcoin etfs. bitcoin isn't the only coin that coinbase services, but it is obviously the biggest. i'm nervous about investors who can now go just by an etf and busin model going forward and of course, there will be lots of questions about that on the call, this the company is still showing losses so the numbers aren't going to matter as much -- bitcoin is going strong right now but that doesn't necessarily play into coinbase

. >>> all right, let's go to coinbase. kate rooney has the details on the results. >> coinbase reported a surprise profit, thanks to soaring trading volume in the quarter. bitcoin markets recovered in the fourth quarter. that was a big help. that was up 17%, as far as interest income. the company brought in $1.04 on eps. that was compared to a loss of $2.46 a year ago. tradinge ing volume almost doub. bitcoin topping $52,000 this week. here's what coinbase's cfo said earlier on "closing bell." >> we've always said that crypto is a volatile space, and when we see increases in volatility, it has long attracted more trading volume to our platform. that's exactly what we saw in the late fourth quarter. >> subscription and services revenue, which is a little more consistent and predictable, that beat, coinbase said, in press release, as well, they gained market share, but they did not disclose a monthly user number yet that might come later in the 10k. also, the take rate, that fell 1% from the prior quarter. they're seeing a h

coinbase is another big mover.nne: this was the first time he saw bitcoin top 57,000 dollars u.s. dollars since 2021. this is often a rising tide lifts all boats. we see bitcoin move higher and then we see coinbase and other crypto-link stocks. not just exchanges but also microstrategy, marathon digital, riot all moving higher. coinbase up over 20% in the last two days. is there an exact reason why today we are seeing bitcoin up over 5%? i'm not exact wisher. i don't know if anyone can really describe a reason to the optimism. katie: i'm going to say it is fomo. we have gotten through coinbase and zoom. tell me about lowe's. this was lower premarket but definitely rebounding now. joanne: it was lower and now up about 3% in the regular session. the earnings-per-share were better-than-expected. perhaps that is what investors are focused on. overall, it did paint a bleak picture for lowe's. the company said sales will fall further this year as consumers are holding off on home improvement projects amid higher mortgage

coinbase is my proxy.ybody's got different proxies. people have overthought the dynamic around the bitcoin etf and the fallout, because if anything, all it does is signify there's a greater addressable market. there's greater follow-through. it's interesting, because yields are kind of moving higher, if anything, you know, we've got some fed speak this week, we have a pce on thursday, inflation's sticky, and less fed, less dynamics have been great for bitcoin. the institutional adoption has made it kind of an all-clear. there's obviously plenty of deliberation of where you want to be. >> go ahead, dan. >> i'd love to hear -- >> you've mentioned their balance sheet, steve talked about this. robinhood is breaking out. what -- >> longer the base -- >> everybody at once. >> keep getting more revenue from the grip poe -- >> the balance sheet is very good. and we've had the basing formation for the last 2 1/2 years. now it's trading north of 15 bucks. >> i'll just say this. the proxies, you mentioned two differe

what is happening over there, because we see coinbase shooting higher than -- by more than 10%. >> coinbaseas seen a huge gain posting process -- profits for the first time in two years. a 51 increase in -- 51% increase in revenue. a big part of this is the asset gains. we have seen in the last few months of the year the revenue has topped estimates by a large margin. and the company cited excitement and expectations about better macro conditions. next year and among crypto. everybody has been watching coinbase because most bitcoin etfs are getting that retail attention which is a main part of the revenue that coinbase gets, it gets a lot more retail revenue than investors. at the same time it is also looking tony -- custodian of eight of the 10 point etf's. it is lifted by some of those fees and if those grow it could be a benefit. sonali: let us talk about nike and we are seeing it dropped 3.8%. what is going on? >> nike announced 2% cut of their workforce as they are pushing those cost cutting measures. in december the company had $2 million of cost cuts which are reducing its workforce

sonali: how do you see other crypto related stocks, and you think about coinbase and yesterday. people talking about how you can still trade etf's, but there was trouble trading on coinbase. mike: it is a good news-bad news. they were so busy and they had so much business that the circuit breakers went off. i am sure that brian armstrong is a very smart guy and they have a huge engineering team and they are working hard that that does not happen again. it just tells you that they are in poll position in this country and market. and if i am candid, it is un-american and unfair that some companies got through under the j clayton regime and are able to access the capital markets and a score of others did not. you know, they traded higher multiples and with great volume and so it is a big advantage being on a u.s. publicly listed company. sonali: do you worry about missing the boat. why would someone buy into a crypto related stocks when you can buy into crypto? mike: we do a lot of different things. galaxy has an access management business and then the small access management busin

coinbase down 35%. you've seen some of these stalks that have had huge 2023 numbers, really breaking down in just the first month of the year. so i'm keeping my eye on that, because that's just going to say, was that just tourist capital? >> they want to happen to do anything with this pile of cash that they have, brynn, as a shareholder, or just let tim cook and the team they're just do with it what they please? continue to buyback about lot of stock, they do more than any in terms of buybacks, i believe. how about that? >> you absolutely want them to spend that on our entity, they're also might able to monetize. who knows how much they spent on vision pro, who knows what other types of our entity, you definitely want to see a growth company, plowing back some of that money, not in buying that the shares and gaining the earnings per share, but actually plowing back and innovating. we all talk about apples high cash flow, but it's free clash flow yield releasing very high because it's got a three billio

you mentioned after foe mentioned coinbase. not all. you have kracken and binance also experiencing server issues. they're having, some of their trades are having a hard time settling and you don't really know and when this sort of stuff happens, given what happened with ftx, with the sam bankman-fried fraud, i'm not saying these are frauds, people start freaking out. liz: the whole gulping energy issue is huge. >> that is on top of everything else. this is something crypto people have to worry about, figure into their calculus to buy this thing or not. the biden administration will come down on this thing, no doubt. gary gensler has not been dissuaded from cracking down on crypto. they will appeal the ripple case they got a partial victory. the ruling is no hackneyed. liz: they will go have miners as well? >> they go after everything, miners. liz: energy -- >> let me finish. >> you're not getting to it! >> give me a break here. i'm trying to report this out. you're sitting they're, who are you, mike wallace? i'm sorry about th

marathon digital and macro strategy and coinbase. >>> let's get a check on the top corporate stories with silvana henao. silvana. >> contessa, good morning. we are watching shares of jetblue. the rally ahead of the open after carl icahn disclosed a 10% stake in the airline and signalled interest in the seat on the board. icahn says the stock is under valued and represents an a track sif attractive investment opportunity. it comes after the federal judge blocked the company's proposed merger with spirit airlines last month. >>> shares of tripadvisor after the company is considering a sale. it formed a committee of independent directors to evaluate proposals that may come forward. on friday, liberty holdings, which holds 21% of the stock and 57% of the voting control said its board is engaged in talks about a possible cash acquisition of the company. >>> roughly 123 million people watched the chiefs beat the 49ers in the super bowl on sunday. cbs releasing preliminary ratings for viewing on tv and streaming platforms. cbs and nickelodeon and paramount plus is the most watched super bow

cheryl: fox business alert, coinbase shares are near a 2-year high.getting its crypto springtime. company reported a surprise profit in the fourth quarter thanks to transaction revenue fees. at least eight brokerages raised their price target on this stock. coin, as you can see, up 10% today. had a big run yesterday as well. a price surge for bitcoin and other crypto assets at the end of the last year helped lift coinbase and other crypto-related stocks, and there's bitcoin right now sitting at nearly $52,000. nike is sitting at the bottom of the dow after the maker of air jordan basketball shoes admitted plans to cut more than 16,000 jobs or some 2% of its work force. analysts at oppenheimer downgraded nike to perform from outperform and cut the price target to 110 from 150. nike is down 2%, 103 and change. and investors dashing away from doordash after the food delivery company's first quarter profitability metric came in below expectations. doordash sees first quarter adjusted ebitda between $320-380 million versus estimates of 355 million. the com

coinbase because they're still in litigation with the sec. and which is gone, they're bleeding -- binance is leading assets like crazy because, of course, there's litigation. not settled yet in the sec, and, indeed, the founder 's on his way to jail. the new play there is the compliant m2 exchange in ab abu dab by which is setting itself up to gatt err all those assets and the compliant run by the sovereign wealth funds, that's probably the next play. that's where i'll go because i can feel safe puttings a sets there. it's the safest place to put money, and i'm not paying stupid etf fees. i mean, why would you ever hold bitcoin in an etf? i don't get it. if you're only going to put a couple hundred bucks into it, sure. most of that money is retail. i'm not saying it's a bad thing, but it's not an constitutional -- institutional play. institutions are not going to buy bitcoin until gensler's finished suing everybody about a it. [laughter] liz: as a buffett would say, beware the fees eating up whatever gains you got. kevin, mr. wonderful, come

coinbase is coming on nice lay. that are others out there.start to look, should start to consider reembracing those loved stocks you gave up on. rob luna, rob luna wealth academy founder. it is one of those days, earning earns came out yesterday. expectations are low. some of these names are down 80% or more. >> yeah. charles: is this a one-day phenomena or a spark maybe we should jump on the bandwagon? >> you have to play it stock by stock, charles. if take lyft, that stock has been beaten up. uber is long-term winner in estimate think doing well. i wouldn't get caught in traps, lyft, zillow, coinbase will follow bitcoin. i would aren't own bitcoin to be honest with you. charles: coin is coming on. i slipped it on the list because it is doing well. there are two things you are looking at. you like strong steady stuff like enterprise products. you call this steady eddie. >> yeah. charles: normally we put up a stock charts. this is not a stock chart. this is their dividend history. look where the dividend was. we were down here like to zero, n

shares of coinbase are sharply higher. years, boosted by a surge in crypto prices during the fourth quarter. revenue jumped 51% to $954 million, beating estimates of $826 million. doordash shares dropping on mixed fourth quarter results. revenue rising by 27%, but they did have a loss of 39 cents and that was a bigger loss than had been expected. the company blamed weather because it cost them a lot more to pay for drivers when the weather is bad and people really want food brought to their door. and shares of roku under pressure after the company reported a larger than expected fourth quarter loss because of rising competition and lower customer spending. roku says it expects to maintain its platform growth rates for the quarter, that stock down by 16%. don't miss a cnbc exclusive interview with roku's ceo anthony wood. that's coming up at 8:15 a.m. eastern time. >> churchill. >> wilfred frost. >> i say churchill, you say -- >> it is supposed to be post 1979 when skittles came. >> all right, margaret thatcher. >> okay. th

the income of the world's second largest cryptocurrency exchange, coinbase, reached 954 million dollars in 3 the fourth month has arrived and the announced figure is higher than the forecasts. iran commodity exchange. the goods and products of three companies were accepted in the secondary market. acceptance of these goods and products after reviewing documents and documents in 47 meetings of the college exchange committee. iran was approved. farshid shekar khodayi, head of the investment and financing commission of the iranian chamber of commerce. in the world, all companies enter the capital market after 3 years. therefore , i hope that we will reach 7,000 listed companies from the current 700 companies in the iranian capital market. the capital market value of iran reached 137 at the end of trading in december this year. it reached 24 thousand billion rials. also value attracting and equipping financial resources from the capital market from the beginning of this year to the end of december reached 5196 thousand billion rials. the value of attracting and equipping resources in the sa

you are saying that in coinbase pricing which was trading at it..flects the fact that you are seeing a lot of u.s. and flow coming in pushing that price higher. as well as reflected by the inflows which continues to make the narrative strong, u.s.-specifily focused. ed: we were reflecting on this showed yesterday that if you think about it in simple terms from the end of 2022 to present day, there is this minimal shop from 44,000 to $48,000 per token. in between come all kinds of chaos and volatility. a brief peek, but also happened is thousands of altcoins ceased to exist or they became illiquid. how much of the story is about bitcoin being the only stable option if you want some exposure to a cryptocurrency? aya: it is pretty crazy that we are talking about bitcoin as being the stable currency, but you're saying that reflected in some of the language fidelity has pushed out. ethereum is still playing into that narrative. a lot of what is going on right now is with regards to the wrist again or give -- resticking narrative. yesterday saw franklin t

. >>> coming up here on "worldwide exchange," coinbase shares popping on the call of better days aheadcrypto platform. >>> plus, one of the country's largest cities taking action against social media companies. we're back with that story in a moment. ♪ something amazing is happening here. data is bringing creativity to life. that's because cdw showed animation studios new ways to maximize their infrastructure, then built a flexible dell technologies data solution. more automation led to greater efficiency, which means creativity stays the star of the show. make amazing happen. dell technologies and cdw. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's

ed: they're almost too many company reports to go through, to the upside, coinbase, we got what we thought we might. there is a lot of close correlation with recent performance in cryptocurrency. it is one of the movers to the upset. roku, completely different story. in the streaming context it did quite well, what the street is focused on revenue per user. the stock, down 20%. you will try and dig into it or later in the program. super micro, the ceo is coming on. they are not on track for another record week in terms of the stocks performance. it has just been crazy with the stock rising to about $1000 a share. what is it they actually do? that is the basic question. and i flagged microsoft because of that report i put out with my colleagues about sam altman basically saying to investors, i can't raise money for this chips venture unless i get the blessing of the u.s. government. then there is the here and now with doordash. i find doordash interesting, because it has performed well. the technology story in the quarter was new product lines, doing more stuff on the platform. you look at

more, let's bring in david who created a number of super bowl spots for amazon and hbo and sprint and coinbase weith te bouncing qr code last year. >> thank you. good morning. >> i'm surprised you don't have a suit on. we were told you are the don draper of the ad business. >> i don't know if that is a compliment, but i'll take it as one. maybe a suit for me later. >> you have two commercials for the big game. one for coors light with ll cool jay. the spots cost $7 million. what do the companies get for that cash? >> they get the potential to have enormous impact. so many eyes on it. remember this is the one time of the year the whole nation is obsessed with advertising. the game is when people go to the bathroom. it is reversed. if you can stand out in the crowd, it is a big deal for attention for the brand. >> i'll stay in and watch the game at home. a.i. is a sweeping trend across every business, including yours. how does a.i. play a part in the ads and how the companies engage with the customers later? according to data, 46% of the super bowl ads had celebrities in them last year. a big ru

i want to check in on shares of coinbase, down around 9%, session lows down more than 10% on track forhe biggest decline since june last year. i have to be honest with you, i've got no idea what is going on or why. there are no headlines on the terminal relating to the name. we will get the crypto team on that. a big mover to the downside. this is "bloomberg." ♪ hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. ed: time for talking tech. samsung executive chairman has been acquitted of stock manipulation charge

crypto related stocks such as micro strategy, coinbase, also up nicely.nd find out what exactly is driving this action. kate? >> hey, david. the bitcoin mover we're talking about is about risk appetite. the flood of etfs out there that were approved and becoming a way for some institutions to add risk to their portfolios. the etfs have seen record trading volume this week aside from grayscale's bitcoin etf the biggest by management andassets under management has seen outflows, sort of the outlier there. blackrock and fidelity funds have $6 billion and $4 billion in their funds and jpmorgan says this morning in a note they expect the flows were inspired by bitcoin's rally that started over the weekend. more evidence of institutions buying based on larger purchase sizes. f fundstrat among those. one software company micro strategy bought $155 million worth of bitcoin. then there is a crypto specific dynamic that's worth mentioning calling the halving which cuts the new supply or rewards of bitcoin in half and happens every four years. bullish momentum behin

we have heard from coinbase saying in a shareholder letter that he plans to adopt those new accountingn the first quarter. when does microstrategy plan to do the same, and what factors are you thinking about as you decide on that timeline? michael: we are still evaluating how we are going to approach this. and there are a number of different considerations. in general we feel like fair value accounting is a really important step forward, and is going to facilitate the institutional adoption of bitcoin as a treasury reserve asset. we think this opens the door for other corporations and other entities to consider bitcoin alongside investments in sovereign debt or other cash instruments on their balance sheet. katie: always enjoy speaking with you. really appreciate the time. that is michael saylor, microstrategy executive chairman and cofounder. let's go from crypto to the equity markets. you're going to get a check on that with abigail doolittle. abigail: it is a bit bearish right now. the nasdaq at or near session lows. just a bit of a risk off tone as investors weighed the idea that t

we saw big drops in coinbase, tesla, roblox.e want to look at bonds, yields hitting their highest level in more than two months. right now the 10-year at 4.293%. we've seen about a 15-basis point move after that hotter than expected cpi report. similar story for the rest of the curve. actually same move for the 2-year. it's coming in at 4.60. we also want to check the energy market, oil once again closing in on 80 bucks a barrel. this morning we're taking a look at the oil market. we're seeing it in the green fractionally. just a few pennies below 7, 8 bucks a barrel. brent crude, pretty close to 80, 90 a barrel. okay. that is your u.s. setup. we have a very busy morning shaping up overseas as well. j.p., good morning, let's start off with you. >> good wednesday morning. heartbreaking given valentine's day. the inflation print from the u.s., the 10-year yields not making much of a hand-off. i want to talk about the nikkei 255 also. they snapped their most winning streak. a lot has to do with the fact that the japanese yen finall

sonali: what investors says bitcoin might be a double whammy for corn-based -- for coinbase.nd we

crypto stocks getting a boost, coinbase reports earnings later today.n upgrading the name pointing to better earnings power. back over to you. >> our kate rooney live in san francisco. >>> bryn, over to you, you have a lot of crypto exposure. you own the grayscale bitcoin trust and ethereum trust. the outflows when it comes to the grayscale trust, concerns about that at all? >> i have a small amount of exposure. yes, i think ultimately from a fee perspective, the flows are going to go to where it's cheapest, so i think long term grayscale will have to reduce that fee. only so many people are going to hold it because of gains. and i think that, you know, bitcoin could be 100,000 or 25,000. i wouldn't be surprised either way. i think people view bitcoin as digital gold. i get that. i would like to see use cases, yeah, that's a great use case that we're seeing. i get bitcoin being digital gold and an assess class with the comeuppance will feel comfortable allocating to. >> great points, bryn. right now at 52,000. >>> coming up, more of the day's big movers

the exchange, coinbase, the miner platforms are down because bitcoin is down.n is going to $150,000 by the middle of next year with. $150,000 this. you have a few catalysts, right, like the halving event that takes place in april and the spot 3weu9 coyne etf -- bitcoin etf. major catalyst. and i was reading that back in 2004 when we had the gold etf, gold was around $300, that launched, and in eight years the price of gold rallied 600%. so now you have the bitcoin etf -- stuart: and that's the theory. lauren: bitcoin's going to rally, right? if 600% for gold. stuart: there is some talk the of an i here to yum etf as well, and i noticed it was way up yesterday. i've not seen it this morning, but the idea you might get an etf in etherium -- lauren: will gary againsterer at a the sec do that in a lot of people say no. i would say if you do it for one or two, wouldn't you have to do it for all? stuart: i don't know. totally out of my depth on this one. you better take a look at beyond meat. lauren: yeah. stuart: the stock's down 50%, what is it, in the past year, i

coinbase stock up 40% year -- 140% year other year, but it also comes following the launch of that first it's a long way from the crypto winter or so-called crypto winter of 2022 and the chance of ftx. venture funding in the fourth quarter of last year totaled this should 1.9 billion. that's a 2.5% increase from the prior quarter. and there's some other trends. analysts say they have seen a concentration of capital going into fewer crypto start-ups, but those have focused on finance and technology as well as stocks on the blockchain. but definitely enjoying a renaissance, if you like, stu. stuart: it is. all right, the senate has finally enough support or to pass the can kids' online safety act. this could be the biggest piece of tech regulation to pass in decades. hillary vaughn on capitol hill. if passed, what would this bill do? >> reporter: or stuart, this would give parents more control over what their kids do on these social media a platformses. here's what the bill does. it limits who kids can talk to on platforms. it limits infinite scroll ising and notifications for them. it mak

coinbase, 8%. bitcoin is above $45,000. why is that important?s the first time it has hit 45,000 since the day after it started trading up, the spot etf started trading, january 11th. stuart: it's got back to that. raging bull says it's animal spirits that we have in the market. stuart: as in ryan payne. >> you can devote me on that -- quote me on that. [laughter] stuart: roblox. it's the up another 3%. lauren: they got several upgrades, barclays is one. they're taking the price target from 26 to 46 which is where it is now. they like the earnings, they liked the guidance, and roblox actually issued guidance for the first time after they reported yesterday. stuart: if they say it's going to 46 and it's at 46, do they sell it? lauren: i don't know. they decide what they're going to do next. [laughter] stuart: let's have a look at hershey's. i think it's on the upside. lauren: yeah. it started the day lore. then they came out and said they're cutting costs and cutting jobs, less than 5% of their work force. investors are liking that. but the news i

marathon digital is one of those miners out there, up big today and coinbase, up 2.5% to 3% right now> we'll start with fresh data on the economy and fresh comments from the fed speakers as we count down to tomorrow's very important pce inflation report steve liesman has the latest details there. steve? >> yeah. dom, thanks. the fed president expects the inflation to return to 2%, but it will be bumpy along the way he expects slower gdp growth we got a gdp report this morning that was slow for the fourth quarter. still strong for the first quarter here williams says the labor market should be returning to normal over time. it is already showing signs of that he says that the journey to 2% inflation is not over and still has a ways to go i don't know if this is significant or not, but last week he talked to axios and talked about his expectation that the fed -- it would be appropriate to cut rates this year, but he doesn't mention that maybe that's an oversight. we'll see if he repeats that today. susan colins from the boston fed said the fed is likely to ease policy she does pick up t

coinbase, that's to had a bug gain. what was so good about the report?in finally, a 51% gain on the top line after six consecutive quarters of declines. this was a real win from for investors. they were really happy that you really got that top-line growth returning. coming into the prince, jpmorgan had upgraded the stock because of bitcoin, at $52,000, the highest since december of 2021. so all of this poising really good news for -- stuart: i like that expression, coming into the print. [laughter] all right. i understand there are problems with tesla's cyber truck. >> oh, no. stuart: tell me more. >> i know, they're rusting. at least according to one report. nod -- not good, right? if this was the long-awaited cyber truck that everyone was so excitemented about. it's the an $80,000 vehicle e, so consumers want to get it right. you don't want a car that's rusting. unfortunately, we did get report that after two days in the rain, it was starting to rust. musk had mentioned that owners will soon have the option of purchasing a special coating that helps p

think there is an interesting thing were bitcoin's prices are up a lot over 100% over the last year but coinbasebitcoin, micro strategy upper foreign bitcoin. you want to own bitcoin to own bitcoin they could take self custody but you also would have exposure to the equities that will have levered returns on top of the asset and they will follow exactly what we've seen happen in the bitcoin need. lauren: diversification of the crypto arena. it boggles my mind with all the negative headlines we've had investors are not scared. >> that tells you that opportunity and all the negative headlines are actually marketing for bitcoin, two things that drive marketing campaigns, there is no ceo or executive team there is no marketing depa department, price is a huge driver as the price goes up more people talk about it in more people understand what the asset is in the second thing the negative headlines, a lot of people when they see someone attacking something they say that is interesting why don't they want me to buy that why is that a negative thing and now that we have the internet and a plethora of i

coinbase, marathon digital, at one point we're up to date.athon digital giving back some of those. on the markets, that's where we start today. our next two guests have washington on the mind, and one says congress could push stocks to the downside. the other says the fed could lift markets higher. joining us is jeff killberg, and michael shoemaker, wells fargo global head of macro strategy. thank you very much for being here. we'll start with the macro big picture, michael. can we talk about how things stand with regard to your forecast with regard to how things are shaping up in america? i feel as though the markets are telling us that things are not as terrible as they were feared to be just six to nine months ago. >> that's right, dom. inflation is down a ton. we can see that. i would say the path forward is a bit bumpy. we probably always knew that would be the case. you can't have inflation go from very low to 9% back to two to three very quickly without some turbulence. but the interesting t ing thingw much of the recutting has been ta

. >>> all right, folks, some news just as the show started, apparently some coinbase users are experiencingmpty account balances. this is scary stuff. this stock has been on fire, but they're investigating that right now. and, by the way, this comes as, of course, we were talking about apple giving up on these ev dreams. everyone seems to be embracing nakamoto's dream because everyone now buying bitcoin, and a lot of it has to do with these nine bitcoin etfsing, yesterday they broke a record, $2.4 billion, and it looks it's going to keep going on and on, with me now, anthony pompliano p. ironically, you talked about this being the driver of the next leg up. you just told me because of these etfs i guess too much money chasing too few bitcoin. >> yeah. i mean, look, what a we're watching is a reflexive move in price. this is a classic thing that's happened in finance, retail got in before the institutions which is an important component. so right now there's about 570 million a day of net if new info to the etfs -- innow, and there's about $50 million being produced by the network. the price

coinbase rising as bitcoin's job help the company turn a profit. roku's result seem to match what wall street was looking for. but oppenheimer's jason helfstein, downgrading that stock. and it is tumbling today as you see there. by 23%. dropbox dropping, maybe its worst day ever, on weak guidance in concerns about slowing growth. that of 22%. we start today with that hot inflation report in the impact on the market, as the markets try and figure out what the fit will do and when. here's what atlanta fed president rafael bostic told sara eisen early on money movers. >> my outlook is to stop normalization, start returning our product policy stance to a more neutral stance in the summertime. i'll have to say, a year ago, six months ago, i was in the fourth quarter. we've seen tremendous progress. i'm hopeful that that continues. if that continues, i'll be willing to pull it forward even further. but i want to see it continue before making that judgment. >> do you still think three rate cuts this year? >> well, that's what was in the doc. i was one of

. >> it wasn't too long ago that we were doubting coinbase, because of the percentage declines, even though the longer term chart was a good one. and we are back into these sort of huge monster double digit gains. >> i think the correlation is absolutely going to continue. and, you know, talk about addressable market, the whole point is -- is that there are more people now looking at digital assets, and i still think it's the on-ramp. i think it's a case, these assets become more investable -- look, people are rallying up robinhood saying they are actually getting in flow from people from fidelity accounts, the same goes for digital as sets overall. i know there was a laughable period where people were throwing money out the window in terms of tokens and various forms of crypto, but there's no question that, you know, again, think of the different markets where we talk about a growing addressable market. so, back to coin base, i'm long, and i tell you what, it's going to be over 200 before it's below 100. >> is there -- it's a question, i don't have the answer, is it taking some of g

all of this is boosting those crypto proxy stocks as well, coinbase one of the biggest winners.ng earnings next week. got marathon digital, up double digits, -- mining stocks doing well today as well. then the rally is coming a bit, more legal trouble in the crypto industry on the company side. today, new york attorney general, letitia james, expanding an existing lawsuit against digital currency groups saying that a defrauded investors of over three billion dollars, that's more than three times the amount initially accused. scott, back over to. >> kate, thank you, kate rooney, still to come, cloud layers stock is soaring. we'll tell you what's behind that big higher today. we'll also tracking the s&p five -- as we head towards the close. when they were getting over 5000 on the -- for the very first time ever. you'd be surprising at this point if we don't. closing bell will be right back. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to cove

i do own coinbase which is sort of the picks and shovels way to play bitcoin.u are distrusting of government, if you think that the government spends too much money, if your worried about the value of the dollar, bitcoin is a place where you could perhaps if hide. or if you're worried about what new york state is doing to donald trump, potentially seizing assets, you can't seize bitcoin. stuart: adam, stay with me for the hour. now this, a judge in illinois has ruled donald trump ineligible to appear on the primary ballot. lauren: here we go again. illinois, colorado, maine maine, judge tracy porter says the 4th amendment -- 14th amendment prohibits trump from appealer on the ballot because he engaged in an insurrection trying to hold on to power after a losing the 2020 election. remember, trump was never if charged with insurrection. while there are challenges to keep him off the ballot in, count, 36 states, most judges are waiting to hear from the supreme court. they have already heard the issue, but their formal ruling awaits. illinois got a jump-start. stua

coinbase calling on the s.e.c.e's application to launch a spot ethereum etf the lawyer saying, quote, ether's proof of stake has demonstrably strong governance that exhibits robust characteristics across ownership concentration, consensusly wid ty and governance mitigating risks of fraud and manipulation. it is not that often when one of your competitors says go help these folks. >> well, we do have an application on file. grayscale sponsors the ticker, the largest fund in the world, and spot ethereum etf is a matter of when, not a matter of if >> you say that because with such confidence. >> i say that with confidence because my team has been doing the tough work to move this industry forward, work constructively with regulators, focus on disclosure, investor protections and that's been true for bitcoin, proud of the work we did with gbtc. >> it took a lawsuit to get gary gensler to back down on this, right? and we just had gary here recently and you saw the interview, i would love to get your reaction to it, but

coinbase up 6%. marathon digital up a 8%. a check on futures. at lower open across the board with s&p down 12.5 points. nasdaq looking to lose 67. >>> meantime, financial infrastructure platform stripe out with news. interesting. signing agreements now with investors to provide liquidity current and former employees and doing it through a tender offer. value strike at $65 billion. scraw valuation $50 billion. far below the valuation in 2021 trying to get liquidity in hands of employees. many at the company a very long time awaiting a liquidity event. there was an expectation the company would go public at one point. clearly they've taken the decision not to do that for now. private companies and sales and folks making money. cox enterprises buying open gov in a deal nearly $2 billion. open gov provides cloud software solutions for state and local governments, which the government uses to track finances, permits, planning and more. joining us first on cnbc open gov founder, and co-founder and chairman emeritus, a partner of hbc. good morning to y

stocks in the ecosystem, namely some of the ones that track bitcoin prices more closely coinbase, up year. micro strategy which owns bitcoin and the balance sheet up 153% and marathon digital, mining up 294%. keep an eye on those stocks. sara, i'll send things back to you. >> up next, 2023 was a tough one to predict when it came to the economy. our next guest got it right. find out what she sees for the u.s. economy this year and what investors need to watch as the s&p trades ave,0. ayitbo 500st wh us. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> welcome back to "squawk on the street." i'

coinbase and tesla are lower to start the year.what underperformance looks like off the back of not holding enough of what is really outperforming. we talked about this last week. the career risk now of not opening nvidia and the repeat act in 2024. lisa: the career risk of being contrary and or less loved -- moving to less loved stocks is highlighted by cathie wood. she has gotten a number of calls wrong and is the poster child of a lot of the tech enthusiasm in all directions. hedge funds are cashing out of a lot of tech stocks right now. they are trying to cash out, shift and rotate. this hasn't worked again and again and that is where the dilemma is. annmarie: she says the three symptoms -- synonyms, easy, expected, obvious. when nvidia results came out, they had a sell. the next morning, when you see what it does aftermarket, they had a quick hold and by. jonathan: some of the things you said, you could have said in 2023. easy, obvious, expensive. annmarie: it's hard to be a contrarian. everybody is staring in the face of it a

we have cisco and kraft hines and doordash and coinbase. stephanie link at hightower with us. stephanie, let's run through this. we keep watching the markets move higher. new highs that are set. weekly streaks of winning across the board. what does this feel like to you? >> it feels a little melt-up-ish, becky. for good reason. the economy is hanging in there and doing better than hanging in there. 3.4% for gdp. inflation is coming down. we have a big number, as you mentioned, this week with the cpi. we are making progress. we are down from 9.1% cpi at the peak. whether it is 3 or 2.9 or 3.2 or whatever the number may be, we are making progress. the combination of better growth and lower inflation is leading to better earnings. 81% of the companies are beating expectations. we're growing at about 5%. i think based on what i'm hearing from companies and guidance, i think we will see double digit earnings growth this year. we are seeing revisions higher. you know that stocks follow profits. on the way up and on the way down and right now they

first as we head to break check out shares of, key cr crypto cryptocurrencies, coinbase, and microstrategy your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com >>> shares of pinterest sharply lower. earnings 53 cents a share beat estimates. revenue fell short. rose to $498 million beating estimates but average revenue per user $2. 5 cents below estimates. current quarter forecast weaker than expected. stock initially sank as much as 28% in after-hours trading but rebounded after ceo announcing third-party app integration with google during the analyst call stock down 8.4%

watching coinbase for signs that retail revenue at the biggest crypto platform will be cannibalized bybitcoin etf's. lisa: treasury yields are hovering near 2024 highs. >> we are still in the camp that investors should gradually extend duration, even if the timing of the rate cut gets pushed back a little bit. we think investors should move out and lock in. lisa: that is coming up next. ♪ lisa: 45 minutes until the key ppi figure that adds to the model so far this week. if you're looking for clarity, good luck. markets found their clarity in a couple, but you are seeing a little pullback in nvidia. i want to bring that up as part of the market check. 5053 on euro futures. 10 year yields of almost four basis points and continuing to climb ahead of the key data. close to the highs of this year as we were talking about earlier. 4.27 rounded up on the 10-year. under surveillance this morning, treasury yields are hovering near the highs of this year. >> we are still in the camp that investors should gradually extend duration, even if the timing of the rate cut gets pushed back. we think inv