hold crypto directly and they use crypto. they can spend their crypto at any merchant or visa is accepted. we can be an infrastructure provider to traditional financial services and we can be the retail institutional application for people who want to do it. sonali: as you have head to washington for the summit i want to point out here, you have had a large voice here in advocating for potential candidates. where does the rubber hit the road? is it really making a difference when america is facing a whole host of other challenges like inflation? >> it is funny. inflation ties really neatly into crypto. the dollar, money supply, it is probably the biggest driver of inflation in the u.s. and a lot of average people may not think about quantitative easing or fiscal deficits. they do notice the prices of things have gone up and gas stations are three stores. inflation is a big temple issue, people are starting to realize that bitcoin is the answer to inflation. it is a very important check and balance on deficit spending and i th

thank you. went out to the crypto king, who is now the crypto convict, headed for present, from a millionaire san basement free. it's been sentenced to 25 years in prison for stealing billions of dollars from his crypto exchange platform. at the x, a prosecutors had one and 50 years in prison. they say they've been free, defrauded tens of thousands of customers from around the world, spending over $8000000000.00 of their savings on his luxury homes and risky investments. last november, the jury found him guilty on 7 counts of fraud conspiracy and money laundering. they've been freed, founded f t x back in 2019. it quickly grew into one of the largest crypto currency exchanges in the world. millions of users logged on to buy and sell crypto token and such as bitcoin billions of dollars. it passed through the site every single day. a customers thought that their cash was safe, but they've been free to use that cash to fund his own personal investments. and also to prop up as lawsuits with news broke, that f t. x was on shaky financial ground. people tried to withdraw their funds to run on the b

just in our crypto ——. i for other purposes. just in our crypto ---_ crypto --.priate _ crypto --. i feel like an appropriate sentence. l crypto --. i feel like an appropriate sentence. i crypto --. i feel like an - appropriate sentence. i feel them lotta people would have them lotta people would have the request of a0 mac years just because of the number of projects and meeting investors impacted by his actions a lot better then the lawyer was asking was six years which would bring ridiculous considering the crime. those that ut considering the crime. those that put a — considering the crime. those that put a lot _ considering the crime. those that put a lot of _ considering the crime. those that put a lot of money - considering the crime. those that put a lot of money and l that put a lot of money and fade into ftx and freed himself or they could be getting their money back?— or they could be getting their mone back? �* , ,., money back? there's something im ortant money back? there's something important to _ money back? there's something important to understan

we've seen crypto skyrocket. i wonder if this sentence, this conviction, the fact that a bad actor is being put away, if this does send a message to the crypto community, we are making things safer, in, we will see what happens with bitcoin today but certainly it's been on a run. i will send it back to you. neil: mentioned the prospect of appealing and where that stands but given the severity of the sentence, it's not as far as the judge could have had it go, makes you wonder what chances he would have. >> absolutely. a question i've been thinking about myself. when you have that 25 year sentence come down it is supplemental. for folks watching at home they are going 110, how could he not have gotten that? bernie madoff got over one hundred years, that was for someone who was at the end of their life. when you think of sentencing you think about the possibility of revocation or remorse, to to good in society going forward but even though they are going to appeal, he fired the folks that got connected to convictio

when now to the crypto king, who is now the crypto convict headed for present, from a millionaire, san basement free, there's been sentenced to 25 years in prison for stealing billions of dollars from his crypto exchange platform. at the x, a prosecutors had one did 50 years in prison. they say they've been free, defrauded tens of thousands of customers from around the world, spending over $8000000000.00 of their savings on his luxury homes and risky investments. last november, the jury found him guilty on 7 counts of fraud conspiracy and money laundering. they've been freed, founded f t expect in 2019, and a quickly grew into one of the largest crypto currency exchanges in the world. millions of users logged on to buy and sell crypto token and such as bitcoin. billions of dollars passed through the site every single day. a customers thought that their cash was safe, but they've been free to use that cash to fund his own personal investments. and also to prop up as lawsuits with news broke, that f t. x was on shaky financial ground. people tried to withdraw their funds to run on the ba

thank you. went out to the crypto king, who is now the crypto convict, headed for present, from a millionaire san basement free. it's been sentenced to 25 years in prison for stealing billions of dollars from his crypto exchange platform. at the x, a prosecutors had one and 50 years in prison. they say they've been free, defrauded tens of thousands of customers from around the world. spending over $8000000000.00 of their savings on his luxury homes and risky investments. last november, the jury found him guilty on 7 counts of fraud conspiracy and money laundering. they've been freed, founded f t x back in 2019. it quickly grew into one of the largest crypto currency exchanges in the world, millions of users logged on to buy and sell crypto token and such as bitcoin, billions of dollars. it passed through the site every single day. a customers thought that their cash was safe, but they've been free to use that cash to fund his own personal investments and also to prop up as lawsuits with news broke, that f t. x was on shaky financial ground. people tried to withdraw their funds to run on the b

i think there is a crypto of today and a crypto of the past.in a new institutional era of crypto. i think the trust is building significantly. you can see that in prices and the type of investors who are moving into crypto for the first time. i think that momentum is going to build for the foreseeable future. ed: bitwise asset ceo matt hougan, thank you for your time and what is happening with sam bankman-fried's sentencing. we will sit down with the ceo of walgreens to discuss the company's future. walgreens and the reinvention era right now. that conversation is coming up next. this is bloomberg technology. ♪ okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimite

justin d'anethan is a crypto expert from keyrock.come news for the industry. i think for the crypto community as whole, it feels like an appropriate sentence. i think many people would have rather have the prosecutors request of a0 years, just because of the number of projects, companies, and just retail investors that were impacted by his actions, but it is at least a lot better than what sbf�*s lawyer was asking, which was 6.5 years, which would have been ridiculous considering the seriousness of his crime. yes, and speaking of the retail investors, those that put a lot of money and faith into ftx and into bankman—fried himself, are they going to be getting their money back? there's something very important to understand. right now the claims for ftx assets that are locked in are about 80 or 90 cents on the dollar. so it sounds like most of the assets would be paid back to the investors, but a very important point is that it will be the value of the assets at the time of bankruptcy and not what the assets are worth today. it does n

that bankman—fried had on the whole crypto industry, over about a year or so, crypto industry, overkman—fried sentenced in the last few minutes to 25 years. joe tidy or cyber correspondentjust getting into place beside me. he has been with me over the last hour or so, as we anticipated the sentence. it has come and we had talked the last time about an hour or so ago when we knew the prosecutors are going between a0 and 50 years. in the end landing on 25. yes. going between 40 and 50 years. in the end landing on 25.— going between 40 and 50 years. in the end landing on 25.- i l the end landing on 25. yes. 20. i think there _ the end landing on 25. yes. 20. i think there has _ the end landing on 25. yes. 20. i think there has been _ the end landing on 25. yes. 20. i think there has been a _ the end landing on 25. yes. 20. i think there has been a correctionj think there has been a correction of. i think there has been a correction of. .. . think there has been a correction of. ., , ., think there has been a correction of. ., , ., of. i was in a lift! i suppose in a sense it is _ of. i

a reckoning for the fallen crypto king. sam bankman—fried is to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. the crisis at thames water deepens as shareholders refuse to inject extra cash into the uk's largest water company. hello and welcome to world business report, i'm lukwesa burak. we start in the us, where in the next few hours sam bankman—fried — the former cryptocurrency tycoon, convicted of stealing billions of dollars from customers — will be sentenced for his crimes. the 32—year old founder of the collapsed crypto exchange ftx could now face decades in prison. our cyber correspondent, joe tidy, was the last person to interview bankman—fried before he was arrested in december 2022 and reports on the rise and downfall of the man behind one of the biggest financial crimes in us history. one interesting thing that's been happening pretty recently is that the bitmex bitcoin perpetual futures ran up a lot in price. this was sam ban

sam bankman-fried washa crypto's golden boy, he was the - crypto's golden boy, he was the founder of customers could come and exchange their dollars and pounds for a cryptocurrency, and he assured those customers, as his ftx exchange was collapsing, that their money was safe. but when customers went to withdraw their funds, the funds were not there. the jury found that money had been moved to an investment fund and that sam bankman—fried use that money to enrich himself and his inner circle, to make political donations and charitable donations, dubai luxury real estate. when customers went to pull the money out, it wasn't there. now, thank you very much. that is our correspond in there at the courthouse. if there is more reaction in new york, will return there. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. let's start there, joe. when you did that interview back then, what was he like? ~ ., , that interview back then, what was he like? ~ . , ,., that interview back then, what was he like? ~ .,

., , , crypto world? well, 25 years is a “oke, crypto world?pto world? well, 25 years is a joke, is what i've _ crypto world? well, 25 years is ajoke, is what i've heard, - a joke, is what i�*ve heard, lovable. there are many people disappointed by the sentence, as substantial as it is, because of how much money people lost. because of how much money people lost-— because of how much money people lost. because of how much money --eole lost. ~ . . ., ., , people lost. what damage has it done to the _ people lost. what damage has it done to the crypto _ people lost. what damage has it done to the crypto investment? | done to the crypto investment? has it damaged it? is it still damaged des�*s are still damaged or has it rehabilitated itself? the crypto markets have recovered, now we are seeing bitcoin at higher prices than ever before, but i would argued that the sentence among investors who may have been interested in crypto has changed and also the way businesses operate in a space has changed. at the time it collapsed there were wild accesses

now to the crypto king, who is now the crypto convict, headed for present, from a millionaire, san bakeman free, there's been sentenced to 25 years in prison for stealing billions of dollars from his crypto exchange platform. at the x, a prosecutors had wanted 50 years in prison. they say they've been free, defrauded tens of thousands of customers from around the world spinning over $8000000000.00 of their savings on his luxury homes and risky investments. last november, the jury found him guilty on 7 counts of fraud conspiracy and money laundering. they've been freed, founded f t expect in 2019, and a quickly grew into one of the largest crypto currency exchanges in the world. millions of users logged on to buy and sell crypto token, such as bitcoin billions of dollars passed through the site every single day. a customers thought that their cash was safe, but they've been free to use that cash to fund his own personal investments. and also to prop up as lawsuits with news broke, that f t. x was on shaky financial ground. people tried to withdraw their funds to run on the bank and could sa

justin d'anethan is a crypto expert from keyrock. welcome news for the industry. i think for the crypto community as whole, it feels like an appropriate sentence. i think many people would have rather have the prosecutors request of a0 years, just because of the number of projects, companies, and just retail investors that were impacted by his actions, but it is at least a lot better than what sbf�*s lawyer was asking, which was 6.5 years, which would have been ridiculous considering the seriousness of his crime. yes, and speaking of the retail investors, those that put a lot of money and faith into ftx and into bankman—fried himself, are they going to be getting their money back? there's something very important to understand. right now the claims for ftx assets that are locked in are about 80 or 90 cents on the dollar. so it sunds like most of the assets would be paid back to the investors, but a very important point is that it will be the value of the assets at the time of bankruptcy and not what the assets are worth today. it doe

crypto regulation hasn't changed — crypto industry?ion hasn't changed that much - crypto industry? crypto regulation hasn't changed that much really i hasn't changed that much really since this came to light a couple of years ago. in fact, if the collapse of ftx came after the first crypto brain exploded, then here we are also yet again in another crypto boom. when ftx collapsed bitcoin was worth around $21,000. at its current price it is $70,000. it hasn't stopped the majority rise in crypto currencies and another boom and yet we don't have more rules yet. the other thing worth pointing out is that sam bankman—fried's nemesis, the ceo of binance also faces his own legal challenges and he'll be so instant in a separate case on april 30. , . ., , ., instant in a separate case on april 30. -- sentenced in a separate case. thank yom — here in the uk, more than 200 workers are taking part in two days of strike action at an amazon site in birmingham. members of the gmb union have been striking at the online retailer's fulfilment centre sinc

now to the crypto king, who is now the crypto convict, headed for present, from a millionaire, san basement free, there's been sentenced to 25 years in prison for stealing billions of dollars from his crypto exchange platform. f t x. prosecutors had wanted 50 years in prison, they say they've been free, defrauded tens of thousands of customers from around the world spinning over $8000000000.00 of their savings on his luxury homes and risky investments. last november, the jury found him guilty on 7 counts of fraud conspiracy and money laundering. they've been freed, founded f t expect in 2019, and a quickly grew into one of the largest crypto currency exchanges in the world. millions of users logged on to buy and sell crypto token, such as bitcoin billions of dollars passed through the site every single day. a customers thought that their cash was safe, but they've been free to use that cash to fund his own personal investments. and also to prop up as lawsuits with news broke, that f t x was on shaky financial ground. people tried to withdraw their funds to run on the bank. it could say, but

around crypto.elcome back. bitcoin breached the $70,000 level after a surge after etf outflows last week sense ftc approval. i'm joined by tim, a major player in the crypto space. let's look to january 11, what has approval done to demand for the products? tim: widely anticipated, it took a long time to come to fruition. and lot of lobbying for asset managers. very exciting event, slightly hysterical event. the impact has been larger than the most optimistic forecasts. $11 billion inflows. we've seen that expressed in price action. tom: do you see money in etf's? tim: yes. european products have been around longer, so i think there was repatriation to u.s. products but impact has been named legitimacy and of bitcoin. it is all very well promoting it but when larry fink puts blackrock behind it, this is a material change and impacts the attitude to bitcoin. tom: when it comes to building out a crypto sector is it playing catch-up? tim: euro has had crypto products for many years. the products are bro

a crypto “ournalist followin t bankman-fried. a crypto “ournalist feiiewingttefi bankman-fried.ely - bankman-fried. a crypto journalist j following the case extensively joins following the case extensivelyjoins me now. first let's talk about about sam bankman—fried as a person. i've given a bit of background to him but explained to viewers who he was and what happened. it explained to viewers who he was and what happened-— explained to viewers who he was and what happened. it was incredible. he tositioned what happened. it was incredible. he positioned himself _ what happened. it was incredible. he positioned himself as _ what happened. it was incredible. he positioned himself as an _ what happened. it was incredible. he positioned himself as an effective - positioned himself as an effective altruist making as much money as possible then giving all of it away. he was the subject of flattering media profiles and one man's eczema said the next warren buffett but in interview he effectively admitted it was a pr stunt and lost 94% of his net worth in a single day. when his company c

the crypto exchange is part of the new kid in supera pac town ready to lobby for its crypto cause.ured pd $24 million into the first ever pro-crypto superpac if falled fair sake which has spent a heavily on the ohio primary. joining me live from washington in a fox business exclusive, chief policy officer farriar. that is not pocket change, the coffers are up to about $85 million now. you just demied some of that -- deployed some of that cash super tuesday. let's talk about ohio right now. >> well, ohio's a big election, obviously. it's a big state with a lot of crypto users. a lot of people are going to the ballot box to vote is. we've been quite excited by the fact that the republican nominees in a very tough primary have all come out favorably on crypto policy. they want to keep the innovation in the united states. they want to make sure that ohio innovators have a place to build their businesses and create jobs. and we're excited about that. i think that's the theme that a we've seen across the country. we have about 52 million americans who have bought crypto, and we at coinba

i did mention the crypto venture earlier. so when f f t x are collapsed, um, so a bitcoin suited at about $17000.00 as we speak today, bitcoin straight at 70 a $1000.00. so all those scandals, all those bankruptcies didn't harm the crypto market itself at all. and also regulators recently and has been much more open to the crypto. well then they used to be a year or 2 ago the financial correspondent, again, school today in new york for us. thank you again. and we can now return to our top store, the united nation, pick saudi arabia to had a women's rights commission that we can now speak to based on the kiosk, ease uh with amnesty international. and that container on saudi arabia and she joins me now from a baby. now saw the low it, for example, in shrines, mail, guardianship. what are the consequences of such a is even leaving? are you in for them on women's rights? thank you so much for for having me. honestly, i don't know whether to laugh or to cry. after you're introduced us on your radio was pointed to the commission on

welcome to bloomberg script though. -- of crypto. >> the demand from etf's driving the inflows into cryptohares joins the etf party as it completes its acquisition, including its bitcoin file. we talked to the coin share ceo in a moment. sonali:

it's very much a bitcoin story and crypto is still searching for those cases.es. we will leave it _ searching for those cases. we will leave it there. steven ehrlich, director of research at forbes crypto, thank you for joining us on bbc news.- joining us on bbc news. thank ou. the biden administration has approved maryland's request for $60 million in aid for recovery efforts after a bridge in baltimore collapsed when it was hit by a cargo ship. divers have so far found the bodies of two people in a red pick—up truck underwater. eight workers were on the bridge when it was hit by the cargo ship dali, plunging them into the waters below. two were rescued on the day, but the search continues for four other men who were working on the bridge repairing potholes. all are now presumed dead. investigators say the container ship that crashed, and still remains in the patapsco river, was carrying more than 700 tons of hazardous materials. the jobs of at least 8,000 workers at the port of baltimore are affected by the collapse of the bridge. maryland state governor wes

a reckoning for the fallen crypto king. sam bankman—fried is due to be sentenced for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. more industrial action against amazon as workers in birmingham in the uk strike over pay and union rights. welcome to world business report. we start in the new york — where sam bankman—fried — the former cryptocurrency tycoon convicted of stealing billions of dollars from customers — is due to be sentenced for his crimes. the 32—year old founder of the collapsed crypto exchange ftx could face decades in prison. our cyber correspondentjoe tidy was the last person to interview bankman—fried before he was arrested in december 2022. and he takes a look back at the rise and fall of the man behind one of the biggest financial crimes in us history. one interesting thing that's been happening pretty recently is that the bitmex bitcoin perpetual futures ran up a lot in price. this was sam bankman—fried in his element — at his desk, talking crypto and maki

it's all crypto market and the whole industry attached to it. yeah, that's definitely also quite a stunning because we had this huge boe out of the f t x. but we also had to couple of other crypto firms that are going bankrupt. so this is not the only even if it's the most spectacular case. but the crypto market itself actually doesn't seem to care when f t x collapsed them. bitcoin stood at $17000.00. today we are at $70000.00, some almost as a, a record tie. and even if you look at the regulators some just the, this year, they opened the doors for more financial products and around the crypto world. so if you have the crypt or markets in general didn't really matter or it didn't influence the market at all. all those scandals that we've covered in and seen in the past couple of years and it's probably not the last sky until that we see in that area death and the know dance. one last question. very brief on. so please. and you've been covering roles fees. uh for, for many, many years and really in terms of scandals. you mentioned birdie made of

the crypto investor didn’t notice any trick at first, and there shouldn’t have been any incidents, butrking lot on the capital’s hekal street will turn into a stage on which it will be played out. and whether it was a robber, and not a banal swindler, who denied his guilt to the last, had to be investigated by the investigation. hello, hello, i'm sergey, misha, misha, 28,000 greens, as agreed, yes, in the meantime, send me your address, where to transfer the money, oh, it’s hard to translate, but i’ll count it for now, okay? we agreed that the exchange rate favorable for the investor was one to one 28 thousand stem coins, in other words, this is an electronic dollar for 28 thousand us dollars. once again, the amount and terms of the transaction are not clear, mikhail sends the address of his electronic wallet to the gamer subscriber, being sure that the guy sitting in the front seat is the one with whom he has been corresponding all this time, and hands the new acquaintance the money, but not all of it amount at once, only 20,000 foreign currency. hello, wait until i forward it, i i'm

a reckoning for the fallen crypto king.faces decades behind bars. the crisis at thames water deepens as shareholders refuse to inject extra cash into the uk's largest water company. hello and welcome to world business report, i'm lukwesa burak. we start in the us, where in the next few hours sam bankman—fried — the former cryptocurrency tycoon, convicted of stealing billions of dollars from customers — will be sentenced for his crimes. the 32—year old founder of the collapsed crypto exchange ftx could now face decades in prison.

th interpret the term funds to cover crypto.es, funds is not specifically defined in the consumer financial protection act. and it's not clear that the original public meaning of funds under that act included cryptocurrency the act was part of legislation designed to address the 2007 to 2008 global financial crisis, an event crypto coin transfer. that it can place in 2009, just prior to the act passage. and another major cryptocurrency would not launch until 2015. as the cfpb acknowledges, the case law the bureau cites to support its interpretat■yz does not address the consumer protection act, but other laws. asserting jurisdiction over crypto asserts different issues. the lack of clarity of key terms in the rule, misstating current crypto other fintec tools. specifically, treating what are self-hter noncrypto wallets as if they were the same as digital payment apps would be inappropriate. unlike payment apps where users rely on service provids, self-hosted crypto wallets are simply tools that let users protect the unique own cr

he spoke in front of congress as a leader in the burgeoning crypto industry.ere customers traded their dollars and pounds for cryptocurrencies like bitcoin. when the exchange collapsed in november 2022, he assured customers their money was safe. but it turns out his entire business was built on lies. a jury convicted him here in this courthouse in november on fraud and conspiracy charges after only five hours of deliberations — a nod to the strength of the government's case. nowjudge lewis kaplan has sentenced him to 25 years in prison, saying bankman—fried knew his actions were wrong and criminal and that he made a bad bet that he wouldn't get caught. judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. bankruptcy proceedings have been able to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to

consumers, it's also good for other crypto firms.hile robust supervision can help detect and deter consumer fraud before it happens, it will also drive bad players from the market. conc generations in the payment system just over the few years of the pandemic. and the cfpb's rule making in that regard is sorely needed. i think it is well-aligned with safeguarding american maintaining a secure and competitive payment landscape. indeed, given these platforms amidst growth, this role is long overdue. thank you. >> the gentleman yields back, thank you our panel for your excellent testimony. and we have the privilege of the ranking member for the full committee, maxine waters, and i yield for one minute. >> thank you, mr. chairman. i've long raised concerns about big tech's expansion into financial services. and i'm pleased that they've finally taken action to oversee these companies. big tech already dominates markets, possesses massive amounts of consumer data. but it's not been subject to the cfpb supervision, and the banks and other f

asserting jurisdiction over crypto asserts different issues. in the rule, misstating current crypto tools like other fintec tools. specifically, treating what are self-hosted or noncrypto wallets as if they were the same asital payment apps would be inappropriate. unlike payment apps where users rely on service providers, self-hosted crypto wallets are simply let users protect the unique cryptographic keys for their own crypto holdings. importantl documented by self-h crypto wallet creators, rather, they are recorded on public block chain ledgers that operate independently. the proposed rule when it comes to these technoloes does not ane specific costs and impact over cryptocurrency or self-hosted crypto wallets. them would raise serious concerns under the administrative procedure act and the consumer financial protection act itself. while t a reasons that the proposed rule should not be read to cover self-hosted crypto wallets, if the proposal were to proceed, the bureau must expressly clarify that the bureau does not apply to these tools. tte

you were in crypto before crypto was cool.nterested on whether with bitcoin ramping up higher, people worrying about leverage coming to the system again, are we bracing ourselves for counsel -- for consolidation? or are we on the march for sustainable reasons? jalak: we have a confluence of factors that make this rally different. first we had etf launches, which were off to a bit of a slow start, but blackrock's has been the most successful in history. we continue to see interest from institutions coming into the sector. blackrock is also launching a brazil etf product for spot bitcoin. you're going to see not only the u.s., but the rest of the world continue to have more access. that shows that your in a different situation than we were in previous rallies and consolidation. we also have bitcoin happening as some of us call it, which traditionally constricts the supply of bitcoin, because it reduces the rewards that bitcoin minors get. these two factors, along with more favorable regulatory movements around the world point to

bubble later crypto winter and we have a crypto bubble were get a tackle that later this hour but first let's get right to the floor show joining me this afternoon asset management president and cio kevin man and prosper trading academy ceo scott bauer, thank you both are joining us. kevin let me begin with you. the magnificent seven is still the magnificent seven and were treading water for a little bit as we wait for the next a lot of inflation numbers but overall magnificent seven still leading the way. absolutely got to remember magnificent seven encountered for 62% of the return of the s&p 500 this far this year it's accounting for 44% of the total return of the s&p 500 backout tesla and its nearly half the magnificent seven are leading the way, the good news this expansion is starting to expand beyond the magnificent seven and that's very constructive for the stock market. ashley: let me ask you this. if inflation numbers come in a little cooler than estimated this week both cpi and ppi does that mean the market will get revved up because i was enable that the fed to cut rates mor

the, the, this is dw news lie from berlin convicted crypto currency king sentence to 25 years in prison, sam franklin fried swindled customers out of billions. the judge saying it's clear he only regrets getting caught. also coming up support for the war on hamas remain strong in israel, but pressure is growing on the government of pen. you mean that and yahoo! and struggling and madagascar claims at least 12 lives. this after a psych come tears, the path of devastation across the island nation. the unpopular felt really as welcome to the program, former opinion, eric crypto boss, i'm buying quinn freed has been sentenced to 25 years in prison for fraud. he was convicted after leaving hundreds of thousands of customers, lenders and investors, $11000000000.00 out of pocket after the collapse of his f. t. x platform. in 2022. after years of being rewarded for risky behavior, sam, bank and fried, finally ran out of road, convicted for fraud, and conspiracy to 32 year old was sentenced to more than 2 decades in prison. prosecutors wanted to put him away for decades more as 10 to 25. so clea

consumers, it's also good for other crypto firms. so while robust supervision can help detect and deter consumer fraud before it happens, it will also drive bad players from the market. so in conclusion we jumped generations in the payment system just over the few years of the pandemic. and the cfpb's rule making in that regard is sorely needed. i think it is well-aligned with safeguarding american households as well as maintaining a secure and competitive payment landscape. indeed given these platforms amidst growth this role is long overdue. thank you. >> the gentleman yields back thank you our panel for your excellent testimony. and we have the privilege of the ranking member for the full committee, maxine waters and i yield for one minute. >> thank you, mr. chairman. i've long raised concerns about big tech's expanices. and i'm pleased that they've finally taken action to oversee these big tech already dominates markets, possesses massive amounts of consumer data. but it's not been subject to the cfpb supervision, and the banks a

i think you will see stronger regulation around crypto currencyl regulation around crypto currency butratively new asset — that you're seeing is comparatively new asset continue to enter portfolios and you end up in this quite _ portfolios and you end up in this quite odd — portfolios and you end up in this quite odd situation where both the price of— quite odd situation where both the price of gold and crypto, bitcoin, are going — price of gold and crypto, bitcoin, are going up at the same time. the ultimate _ are going up at the same time. the ultimate store of value in many respects, — ultimate store of value in many respects, very old asset to invest in, respects, very old asset to invest in. this— respects, very old asset to invest in, this other one a brand—new one, but seemingly taking its place in investor— but seemingly taking its place in investor portfolios but it will need appropriate regulation if you're going _ appropriate regulation if you're going to — appropriate regulation if you're going to give more protection to those _ going to give more protection to those many m

we will talk crypto with mike nova grass. that conversation you do not want to miss.s is bloomberg technology. ♪ we're letting curiosity light the way. asking smart questions about opportunities like advances in healthcare. and how these innovations will create a healthier world tomorrow. better questions. better outcomes. ed: welcome back to bloomberg technology. a very quick check in on the markets as we approach the end of the first quarter. basically flat on most major indices particular the tech heavy ones. philadelphia semiconductor index there's a few interesting stories out there. you can see just above my hand to sense a share delisted by the nyse monday. this morning's news that they are cutting prices to try and save themselves. go on bloomberg.com and read about what's happening. nvidia also down 3%. there was so much material content out there at the moment. it still continuing to be the leader of the pack but it is from a points basis a bit of a drag on some of the indexes which is why i put it in that board. we are looking at bitcoin as we always do. ov

and now the crypto currency may be a key player in the senate race in ohio, which could pit a crypto get that, pit a bull, pitbull versus -- i don't know whether they intended that. emily will kin is more on the crypto candidates. >> hey, tyler. i'm in ohio, of course a key battleground state that could decide which party controls the senate next year. now, the voters behind me are deciding which republican is going to be going up against democrat senator sherrod brown, the head of the banking committee, pushed for restrictions on crypto. and that has put him in the crosshairs of three crypto-backed pacs, which have raised 85 million. now, from coinbase, ipple, gemini, anderson horowitz and they're planning to play a big role in the 2024 election. they have yet to spend money in ohio, but a coin-based backed advocacy group called stand for crypto gave sherrod brown an f-rating. meanwhile, bernie has an a-rating. and if he wins today, he tells me that crypto will be on the ballot in the ohio senate race. >> this will be an issue. you mark my words. talk about 1.2 million people who ow

a reckoning for the fallen crypto king. he faces decades behind bars. more industrial action against amazon as workers in birmingham in the uk strike over pay and union rights. welcome to world business report. we start in the new york — where sam bankman—fried — the former cryptocurrency tycoon convicted of stealing billions of dollars from customers — is due to be sentenced for his crimes. the 32—year old founder of the collapsed crypto exchange ftx could face decades in prison.

crypto is decentralised online currency.eport but we are going to speak now to mark fitzpatrick... associate fellow for strategy, technology and arms control at the international institute for strategic studies. what are the broad allegations here, what is north korea accused of doing? what is north korea accused of doinu ? . , , ., , doing? immediate news is that they are accused — doing? immediate news is that they are accused of— doing? immediate news is that they are accused of stealing _ doing? immediate news is that they are accused of stealing vast - doing? immediate news is that they are accused of stealing vast sums i doing? immediate news is that theyi are accused of stealing vast sums of money through crypto currency exchanges and some directly crypto attacks on financial institutions to the tune of $3 billion. the other part of the equation is that they are using a large part of this money to fund their nuclear programme, so they are both thieves and very dangerous actors on the international stage. dangerous act

t x, crypto exchange. he was convicted on old count salton month long trial in november . christmas leave me has moved from new york, citing the res unless of sandbag winfrey's actions and his flexibility with the truth. the judge gave the former c o the crypto currency exchange f t x 25 years behind bars. that is significantly less than the a 110 years that he could have received. but more than the 6 and a half that his lawyers had requested. they said he never intended to steal that his customers would eventually be made whole through bankruptcy proceedings. and that at his heart, he wanted to do good and donate his money to philanthropy and help people around the world. the prosecutors took exception to that characterization. they had requested 40 to 50 years behind bars, saying that he hadn't accepted full responsibility for his fraud or his line and could be in a position if let out. to do something like this. again, sam bagman fried, said little as the sentence was read. she did tell the judge that h

once the wonder can of the crypto currency world. sam bank winfrey's fall from grace seems complete. the judges at the international court of justice of ordered israel to take all necessary measures to ensure humanitarian assistance reaches palestinian people in gaza. the court war. and there is already a fireman and ordered the israeli government to act with i've delay and also called for the immediate release of all hostages held by hamas. israel is finding itself increasingly isolated as the civilian desktop and gaza continues to rise in his rail support for the war remains high, but the leadership of prime minister benyamin to 10 yahoo is coming under heavy scrutiny use. rebecca renters has more for me as well. when he is well, lone states will on gauze in response to a mouse is deadly terror attack is riley, is overwhelmingly supported. the operation 6 months on that support remains steadfast. i think it was definitely the right decision because it was needed to happen that they needed to get rid of come off because they've been

uncertainty when it comes to the broader crypto space —— so much regulatory uncertainty.should be well crafted laws and regulation that protects freedom and that is good because it shouldn't be easy for unethical people to steal our counterfeit money. there is nothing wrong with security, what he was issuing mod security, what he was issuing mod security, but issues need to disclose the risks so that investors understand who is in control. who can make decisions that will potentially affect their money. bitcoin is a decentralised asset and commodity that nobody can control and emission is to remove the ability to print money out of thin air, which is what sbf was doing and why he harmed so many people because he still that money. we why he harmed so many people because he still that money.— he still that money. we believe it there as we _ he still that money. we believe it there as we continue _ he still that money. we believe it there as we continue to _ he still that money. we believe it there as we continue to watch - he still that money. we believe it - there as we co

there is only regulatory uncertainty around the rest of crypto.erdeliver, all the while enriching themselves to the point of generational wealth while they opine how sad it is that we no longer have a middle class. and one of of the best things about bitcoin is it isen inherently apolitical. it removes the power that comes with manager able to manipulate money and print limitless unit withs, and it really unchains capital from the prison of politics. so no matter who gets elected, i think bitcoin going to shine. kelly: ewell, certainly, that's something that a we're going to be curious to see about the candidates as they come out. before i let you go, i wanted to bring up etherium. larry fink says that he doesn't think it would have much bearing on an etf, a spot etf ai improvement what do you think? >> look, when i entered the space, i was confused. why are people saying bitcoin is so different, and i experimented, and then i really learned bitcoin is the only one that is truly decentralized, that's why it's the only one i've focused on. it is se

. >>> the crypto industry could face new regulations from congress.e lawmakers say it's increasingly likely that new laws could be passed before the election. is sean duffy in favor of that? well, we're going to ask him. we're going to find out. >>> and my next guest says he feels hike a fool for legally getting his green card. he says he should have just walked over the border and gotten more free stuff. he'll make his case next. ♪ ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪ ♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body to flush out some sugar. and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening ba

the, the dw news line from berlin tonight, the convicted crypto currency king sentenced a 25 years in prison, san bakeman frames window, customers out of millions of dollars blowing money on a luxury lifestyle and risky investments. also coming up outrage as the united nations picks and saudi arabia to lead a women's rights commission. critics describing this as an abysmal record on gender equality in the country. and france backing a ban on discrimination based on people's fear style mean victims of prejudice. black women to get a job many are forced to treat their hair with chemical. the break off is good to have you with this former bill you there crypto boss, sam, bakeman, fries has been sentenced to 25 years in prison for fraud, worth billions of dollars. a jury found bakeman fried guilty on 7 criminal counts last november for stealing billions of dollars from his crypto exchange platform. f t x prosecutor say that he defrauded tens of thousands of customers all around the world spending over $80000000000.00 of their savings on his luxury homes and risky investments. i asked fina

b s t x crypto exchange. the united nations says the dogs will, has cause the wills launches displacement crisis. millions of people have been forced from that homes and all facing acute food shortages, heavy funds. it continues hundreds of thousands of fleeting to neighboring countries. welcome web reports from a transit camp and south sea don's board, a town of rank every morning, selma adam sends her granddaughter to maya to try and sell some of the few remaining items of clothing throughout many biases in this transit camp in south see don fulton hall familia and people have arrived here in the last year. things to don civil war. most everyone struggling to get by the sale means to my assignment evil. today. they said fighting in c times capital cost 2 months ago to my father died soon after arriving here and left selma to look off to her grandchildren. the you, the not got a phone kind of to use. the one is the con i often we arrive to, we took my son to the hospital, he'd been ill for months without any

let's focus on the crypto rally.g teagan, indexing and querying protocol open blockchain data. the crypto related to the graph is seeing a market capitalization. tell us about some of the exuberance is it or just natural interest coming into the space at the moment given the etf's we saw launched? is it sticky? >> obviously these markets are sick killer -- it won't be a straight shot up but the total wealth in the world i think bitcoin will take at least 10 percent of that if not more in the next decade or two. a lot of room to grow looking forward to it. the etf a lot of this was unexpected, the volumes we've seen over $1 billion yesterday came in in just a day. i think people are expecting tens of millions and we are averaging hundreds of millions in bitcoin alone. >> as you run your business and build out the technology does it matter to you if bitcoin is at 72,000 u.s. dollars per token? tegan: i don't really pay attention to price. we've been through many bear and bull markets. it is exciting to see more people

the, the, this is the don't use live from berlin, convicted crypto currency king sentence to 25 years in prison. so i'm franklin fried, swindled customers out of millions. the judge saying it is clear, he only regrets getting court also coming up support for the war on hamas remain strong in israel, but pressure is growing on the government of benyamin that's in yahoo. and flooding in madagascar claims at least 12 lives the so after a cycle, tears the past of devastation across the island nation. the on pablo solely as welcome to the program. former billionaire crypto boss, i'm buying command freed, has been sentenced to 25 years in prison. for fraud, he was convicted after leaving hundreds of thousands of customers lenders and investors, $11000000000.00 out of pocket after the collapse of his s t x platform. in 2022. after years of being rewarded for risky behavior, sam, bank and fried, finally ran out of road, convicted for fraud, and conspiracy to 32 year old was sentenced to more than 2 decades in prison. prosecutors wanted to put him away for decades more as the 25 so clearly is

. >>> former crypto mogul sam bankman-fried sentenced to 25 years for massive fraud. his apology in court before learning his fate. >>> on the east coast, the soaking rain and flood risk. >>> the race for 2024. president biden sharing the stage tonight with barack obama and bill clinton at a star-studded fundraiser. just miles away, former president trump at the wake for a slain nypd officer as he campaigns on the issue of crime. >>> the mission to protect the giants of the sea. inside the new whale traffic control. >>> and as small-town papers disappear, harry smith takes us to maine, where local news is getting a lifeline. >> announcer: this is "nbc nightly news" with lester holt. >> good evening and welcome. tonight, we are getting our closest look yet at the precarious remains of baltimore's francis scott key bridge and the out-of-control container ship that toppled it. our team out with the army corps of engineers today as they prepare for the formidable challenge of clearing the blocked channel. tonight, special equipment is on the way to begin the work, while t

let's get another look at cryptos if we can.encing of sam bankman-fried. adam, come back in here. does today's news have any significant impact on the crypto markets? we know that prosecutors want, what, 40, 50, 60 years and defense attorney says 5 years and appears the judge will come down hard. >> yeah, unlike what's happening in los angeles with reparations for dodger's stadium, there's no reparations in the market but there'll be certainly punishment for mr. bankman-fried. he did something he should never have done. he commingled his funds accounts with customer accounts. you can't do that. it's illegal. no matter how you slice it. he knows that he shouldn't have done that. he admitted it, which is why the trial happened very quickly and while he will be sentenced to jail. you know, markets, we live in such a strange world, ashley. you know, you and lauren talking about transgender sports in reparations and all the d do ovs and interpretations and the markets are very honest. you come in every day and you are either up money