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Jan 16, 2024
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did gary gensler lie if the u.s. s.e.c.as a public company, that transparency would be there and the irony of the s.e.c. demanding transparency from those that regulate and not providing transparency about its own activities shocking. >> x did say the s.e.c. account did have two-factor a authen authentication the phone number was come compromised. >> it is required by the s.e.c. by their policies. they were supposed to have it on >> the phone number was compromised as well. how big a deal was it for the industry >> i think it is a very big deal in part because it is a further check against the s.e.c. as someone who has tried to fight the progression andof crypto. in terms of fund flows into crypto, i think it say vis a vei deal you see the published numbers in the first few days as re-balancing given the grayscale product. the short-term will have re-balancing occur it is a big deal for the industry it is an asset class that is here to stay institutional participation in the asset classes means it is a very big deal. >> do
did gary gensler lie if the u.s. s.e.c.as a public company, that transparency would be there and the irony of the s.e.c. demanding transparency from those that regulate and not providing transparency about its own activities shocking. >> x did say the s.e.c. account did have two-factor a authen authentication the phone number was come compromised. >> it is required by the s.e.c. by their policies. they were supposed to have it on >> the phone number was compromised as well....
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Jan 23, 2024
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gary gensler said bitcoin was a commodities, not a security, and comes under sec purview.r is a little different. that is gray area. they could make the head of ether pay a fine-like i did with ripple for selling an unregistered security. that is where we are right now. those are sort of the headwinds facing the ether etf. gary gensler is still not clear whether this was legally issued security that has not been registered with the sec if you remember the ether people early on they did an ico, an initial coin offering. they got a pass from the sec and trump's sec from jay clayton. whether they get it pass from gary gensler is another story. he last come out, says he is not sure. he thinks it is a security. i don't think you an approve an etf of something, if you're the sec that you believe has been issued illegally. so the best thing you can say right now -- liz: yeah. >> you can't. but he will have to get some regulatory clarity i believe ether is a currency, not a security. the best thing we can say right now this thing is being slow-walked. is a much heavier lift. the a
gary gensler said bitcoin was a commodities, not a security, and comes under sec purview.r is a little different. that is gray area. they could make the head of ether pay a fine-like i did with ripple for selling an unregistered security. that is where we are right now. those are sort of the headwinds facing the ether etf. gary gensler is still not clear whether this was legally issued security that has not been registered with the sec if you remember the ether people early on they did an ico,...
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Jan 10, 2024
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be gary gensler as well.anny timing, you could say. what comes next? does it affect the process for a spot bitcoin etf in the u.s.? it is a long time coming. annabelle: more than 10 years in the making for this to take place. i think the key takeaway when we have spoken to different people across the industry is this does not derail what is expected out of the sec. coming up against that deadline, the sec does need to respond at least to arc 21 shares application. there have been a dozen companies on that list, or looking to list etf's backed by bitcoin in the u.s. arc is just one of them. we saw a slew of them coming at the same time. the sec is meeting over the course of this week. possibly this hack, could be a reason to postpone that meeting, but it does not stop the drumbeat, which is towards having a spot bitcoin etf available in the u.s. market. haslinda: belle, thanks so much for that. another company we are watching is honda. here is what the stock is doing. that is with its ceo walking back a plan t
be gary gensler as well.anny timing, you could say. what comes next? does it affect the process for a spot bitcoin etf in the u.s.? it is a long time coming. annabelle: more than 10 years in the making for this to take place. i think the key takeaway when we have spoken to different people across the industry is this does not derail what is expected out of the sec. coming up against that deadline, the sec does need to respond at least to arc 21 shares application. there have been a dozen...
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Jan 11, 2024
01/24
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chair gary gensler.e said just because we approved bitcoin etf doesn't mean we will approve a bunch of p cryptocurrency assets. this signals the willingness to approve crypto asset ises securities. he stated most in the s.e.c. views are ss are securities. bitcoin is speculative and can be used in a litany of activity. we approve certain spot etf shares. part that have is gary gengler pouring cold water. very positive for markets here and the industry is excited about this development and a big endorsement of bitcoin. >> arjun, the distinction is taking me back to the discussions about the future of the asset class and how regulators would look at them. important to get that clarification from the s.e.c. a big development for the crypto community. >>> let's talk about the c conventional markets. s&p is actually up on the year. year to date is finally in the green up .50%. the asia equities positive as well. stoxx 600 is up .50% this morning. very strong start to the day compared to the price action we he
chair gary gensler.e said just because we approved bitcoin etf doesn't mean we will approve a bunch of p cryptocurrency assets. this signals the willingness to approve crypto asset ises securities. he stated most in the s.e.c. views are ss are securities. bitcoin is speculative and can be used in a litany of activity. we approve certain spot etf shares. part that have is gary gengler pouring cold water. very positive for markets here and the industry is excited about this development and a big...
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Jan 10, 2024
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i may not like gary gensler, find but in all seriousness i as a u.s.nd potential and forward momentum of the u.s. markets i absolutely want to see a strong sec that does exactly what is supposed to do in the fact that this would happen, not good. >> i had a very high level security briefing last night with another party about the two factor authentication. it was my mother and she was struggling with their own apps for her own financial software. we should be treating the sec like there are elderly parents but by telling them they need this type of security. i just hope they have been warned about the nigerian. scams and all the other things that could possibly happen to them, this is a silly day for the sec and mark talked about how this will be something punishable by the sec had another company data. it's a really great point, just to show you how insecure some of our networks may be the how insecure our institutions are we have to remember password and remember a penn code or whatever you have to do. maria: it's really odd that this happened. there
i may not like gary gensler, find but in all seriousness i as a u.s.nd potential and forward momentum of the u.s. markets i absolutely want to see a strong sec that does exactly what is supposed to do in the fact that this would happen, not good. >> i had a very high level security briefing last night with another party about the two factor authentication. it was my mother and she was struggling with their own apps for her own financial software. we should be treating the sec like there...
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Jan 10, 2024
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the sec and its chair, gary gensler, quickly posted on x that the sec account was compromised and thatator had not yet approved the listing and trading of spot bitcoin exchange traded products. the erroneous tweet also included a graphic with a quote claiming to be from chair gensler. a second tweet that only said dollar sign btc bitcoin�*s ticker symbol, was also posted, then almost immediately deleted. for bitcoin�*s value, a bit of a ride. the cryptocurrency climbed to nearly $48,000 on the false news, then fell back down toward 16,000 with reality. tesla has lowered driving—range estimates across its line—up of electric vehicles. it comes as a new regulation takes effect in the us with the goal of ensuring that auto—makers accurately reflect real—world performance. according to a reuters investigation last year, tesla has historically issued range estimates that overstate what its cars can deliver. the social media giant meta says it will hide more content from teens on instagram and facebook. in a blog post the company said all teens will now be placed into the most restrictive co
the sec and its chair, gary gensler, quickly posted on x that the sec account was compromised and thatator had not yet approved the listing and trading of spot bitcoin exchange traded products. the erroneous tweet also included a graphic with a quote claiming to be from chair gensler. a second tweet that only said dollar sign btc bitcoin�*s ticker symbol, was also posted, then almost immediately deleted. for bitcoin�*s value, a bit of a ride. the cryptocurrency climbed to nearly $48,000 on...
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Jan 11, 2024
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sec chair gary gensler didn't shy away from that in his statement, saying "while we approved the listing trading of certain spot bitcoin etp shares today, we did not approve or endorse bitcoin". he said that investors should remain cautious about the risks associated with bitcoin and said the cryptocurrency is, quote, "primarily a speculative, volatile asset". while investors and crypto watchers awaited the sec�*s decision, a false tweet was posted on the sec�*s official account a day earlier, saying the etfs had been approved. the sec said its social media account was compromised and an investigation is ongoing. let's stay in the us and head over to las vegas where the consumer electronics show is under way, it's the biggest consumer tech show in the world — our north america technology reporterjames clayton has been trying some of the latest products. there's a lot of weird tech at ces. take this hyundai prototype car that, crab—like, moves sideways into parking spaces. or drone soccer, where the goal is to fly a drone through a doughnut—shaped goal, which is harder than it looks. now
sec chair gary gensler didn't shy away from that in his statement, saying "while we approved the listing trading of certain spot bitcoin etp shares today, we did not approve or endorse bitcoin". he said that investors should remain cautious about the risks associated with bitcoin and said the cryptocurrency is, quote, "primarily a speculative, volatile asset". while investors and crypto watchers awaited the sec�*s decision, a false tweet was posted on the sec�*s official...
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there's always a chance with gary gensler because he hates crypto -- lauren: is that why they're downt the stock -- lauren: the bitcoin and crypto-related stocks are mostly lower. >> i don't know, i think there's some profit taking here. i've always thought once they approve this thing, you know, you might see a little runoff, then it's going to trade off -- lauren: buy the rumor, sell the news. >> plus it went up so much on the rumor, you know, and we've been reporting that it was nearing a decision, and people felt really comfortable. so, again, you know, i don't give investment and trading advice. i would just say it looks like it's going to be next week. the best we can say it's probably going to be around midweek they'll roll this out. the likelihood, again, not definitely they're going to e approve this thing. and if they do, i mean, that's a seminal event in crypto. i mean, i don't think i can understate this. creating an etf, even though it's got some funky characteristics to it, you can't exchange your bitcoin for the etf, you have to pay in cash, you have to -- when you cash
there's always a chance with gary gensler because he hates crypto -- lauren: is that why they're downt the stock -- lauren: the bitcoin and crypto-related stocks are mostly lower. >> i don't know, i think there's some profit taking here. i've always thought once they approve this thing, you know, you might see a little runoff, then it's going to trade off -- lauren: buy the rumor, sell the news. >> plus it went up so much on the rumor, you know, and we've been reporting that it was...
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Jan 11, 2024
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gary gensler referenced that yesterday. give me your thoughts, dave. i see 5.5 million shares.art. i want to see the spreads here, what's going on. it looks like a 7, 8, 9-cent spread. how would you describe that in terms of tightness of trading? >> 5.5 shares a few minutes into the trading day, tracking the price of bitcoin, 2 or 3% spread is showing the liquidity that we think a product like gbtc is going to, you know, really offer investors. this is a product that has 28 billions in assets. we have a ten-year track record and we're going to be a source of liquidity for the institutional buyer. >> good to see it's trading in reasonably tight spreads. we have 11 companies out there. you're one of them. you're the high man on the totem pole in terms of fees. bitwise, trading right next to you, they're 0.2%. that's a big spread. they're the lowest ones out there. how are you justifying this fee right now? >> fee is one consideration when investors are making a decision on an etf. remember, gbtc is a premium market that came to the market in a differentiated way. we have $28 bill
gary gensler referenced that yesterday. give me your thoughts, dave. i see 5.5 million shares.art. i want to see the spreads here, what's going on. it looks like a 7, 8, 9-cent spread. how would you describe that in terms of tightness of trading? >> 5.5 shares a few minutes into the trading day, tracking the price of bitcoin, 2 or 3% spread is showing the liquidity that we think a product like gbtc is going to, you know, really offer investors. this is a product that has 28 billions in...
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Jan 10, 2024
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it is interesting gary gensler himself used the word compromised rather than hacked. a lot of lawmakers here are attacking the sec as well. gary gensler, republican lawmakers in particular, are concerned about how the sec is managing the process. i would say coinbase's executives are online saying that they could be a part of the solution here. the sec and coinbase have been in their own disputes for the last couple months. so, the sec's ability to overseas crypto industry has certainly long been in question. now there are more eyes on that out after the sec snuffer last night. caroline: that rubbed salt into the wound for the fec -- s.e.c.. i want to reiterate my husband is a direct threat coinbase. talking about the broader crypto sphere, what this means if we sign off for a spot bitcoin etf as soon as today. we have the founder of managing partner of future perfect ventures, a firm focusing on bitcoin -- okta technology, crypto assets, human crypto interaction. what did you alternately think of this almost test case to the price reaction to the signoff? how much is
it is interesting gary gensler himself used the word compromised rather than hacked. a lot of lawmakers here are attacking the sec as well. gary gensler, republican lawmakers in particular, are concerned about how the sec is managing the process. i would say coinbase's executives are online saying that they could be a part of the solution here. the sec and coinbase have been in their own disputes for the last couple months. so, the sec's ability to overseas crypto industry has certainly long...
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Jan 11, 2024
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look, gary gensler and the s.e.c. could have done this a long time ago.2021. you've had etfs and bitcoin outside the united states working quite well. so i really do agree with hester purse, the commissioner, who says it was an arbitrary capricious sell. propelled to lose a court case and turned it down over and over again no direct correlation between the futures market and stock market. court says that wrong. math says it's wrong. it's good for individual investors to be able to experience and buy bitcoin through an etf and not have to try to buy it directly. so that's a positive, but we need a change in the regulatory posture here in washington, which is why i've authored legislation bipartisan legislation, to create a regulatory framework that directs the s.e.c. and the cftc how to regulate crypto assets. >> where does that stand and what are the prospects? >> i think the prospects of good, because we did get good bipartisan support in the house. that bill needs to come to the house floor. we're working with majority leader's office are and speaker's
look, gary gensler and the s.e.c. could have done this a long time ago.2021. you've had etfs and bitcoin outside the united states working quite well. so i really do agree with hester purse, the commissioner, who says it was an arbitrary capricious sell. propelled to lose a court case and turned it down over and over again no direct correlation between the futures market and stock market. court says that wrong. math says it's wrong. it's good for individual investors to be able to experience...
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Jan 10, 2024
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why it got here against initial skepticism from gary gensler the sec chief.t larry fink. who is no joke. one of the premier financiers in america and plus he lost a couple of court cases that cleared the way for this. wee lay all that out in great detail on fox business. -- foxbusiness.com. this is maturation as far as the mainstream product. will it be a good day? some people say bitcoin is opaque. it is used for a lot of bad stuff. other people say it is the wave of the future. i will let you guys decide. back to you, liz. liz: charlie, the people want it. they take on that responsibility. >> at some point, yes. liz: charlie gasparino, breaking that news, very, very interesting. looks like a month ago, and any papliano from pomp investments on "the claman countdown" in single day they will all be approved. not a horse race. they will all. he was correcter. closing bell, we're six minutes away. look at the dow, s&p and nasdaq. we're looking at markets in the green at the moment. it is not as indecisive bitcoin is as popping back and forth into negative terri
why it got here against initial skepticism from gary gensler the sec chief.t larry fink. who is no joke. one of the premier financiers in america and plus he lost a couple of court cases that cleared the way for this. wee lay all that out in great detail on fox business. -- foxbusiness.com. this is maturation as far as the mainstream product. will it be a good day? some people say bitcoin is opaque. it is used for a lot of bad stuff. other people say it is the wave of the future. i will let you...
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again, liz, not -- liz: exactly. >> gary gensler hates bitcoin, so who knows?ike the second coming. we're still waiting for the messiah of this bitcoin etf. we shall see. charlie, keep us posted. and, by the way, tomorrow cathie wood of ark, she wants to come on "the claman countdown." is that a signal she knows something? maybe not, maybe she's just being optimist if ebb, but she is -- optimistic, but she is somebody that everybody's talked about as getting that first approval. closing bell ringing in about 9 minutes. markets are down right now. the 10-year treasury yielding above 4 president. markets coming down -- 4%. not the lows of the session as yields go up. treasury auction ahead tomorrow, so we need to keep a focus on that. not to forget that thursday we've got that inflation number, cpi for december. that really could gyrate the markets. >>> all right, take a look at what's behind me. this is a london company called hypervision, and they create cutting edge holograms, okay? this is, like, one of the themes, i'm moving all kinds of stanchions. sorry. d
again, liz, not -- liz: exactly. >> gary gensler hates bitcoin, so who knows?ike the second coming. we're still waiting for the messiah of this bitcoin etf. we shall see. charlie, keep us posted. and, by the way, tomorrow cathie wood of ark, she wants to come on "the claman countdown." is that a signal she knows something? maybe not, maybe she's just being optimist if ebb, but she is -- optimistic, but she is somebody that everybody's talked about as getting that first approval....
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Jan 19, 2024
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and gary gensler has always had an animus towards ether.always said bitcoin is a crypto, is a currency, and it's outside his realm of direct enforcement because it's a currency. he's never said that ether is outside the realm, the other major crypto is outside that sec jurisdiction. as a matter of fact, he says, you know, it might be in the jurisdiction, that they violated the law by issuing, doing an ico that, you know, that went back that was centralized, thus, you know, basically meaning how we test for a security, thus the issued illegally. that's kind of what she's saying. and it gets us back to blackrock. now, blackrock is portfolioing better than all the ores not because it's anything different. they're all the same -- liz: they have different fee structures. >> that's different. back rock is not the cheapest, by the way. liz: knost not the most expensive. >> you have the ask why isn't the cheapest doing well. blackrock is doing well because larry fink has created a pretty amazing firm. remember, blackrock's core products, those etfs
and gary gensler has always had an animus towards ether.always said bitcoin is a crypto, is a currency, and it's outside his realm of direct enforcement because it's a currency. he's never said that ether is outside the realm, the other major crypto is outside that sec jurisdiction. as a matter of fact, he says, you know, it might be in the jurisdiction, that they violated the law by issuing, doing an ico that, you know, that went back that was centralized, thus, you know, basically meaning how...
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Jan 18, 2024
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corporate governance are very important to our members. 2.5 years into his term as sec chair gary gensler has pursued a sweeping radio to reread them from crypto access to corporate disclosures. from cii's perspective the leadership has greatly advanced the sec's tripartite mission protecting investors maintaining fair orderly and efficient markets and capitol formation. cii in many members are heartened that a number that performs spearheaded lines of longstanding with cii policies that strengthen corporate governance. i'll briefly highlight two of those critical reforms and why they benefit our members and long-term investors generally. the first the universal proxy. in november of 2020 when the commission adopted a rule to require the use of universal proxy card in director election contest. it established a more level playing field for those investors many of them who vote by proxy rather than in person at the company's annual meeting. it requires when there is a content the names of all candidates must appear on the proxy card that accompanies a nominating shareholders description fo
corporate governance are very important to our members. 2.5 years into his term as sec chair gary gensler has pursued a sweeping radio to reread them from crypto access to corporate disclosures. from cii's perspective the leadership has greatly advanced the sec's tripartite mission protecting investors maintaining fair orderly and efficient markets and capitol formation. cii in many members are heartened that a number that performs spearheaded lines of longstanding with cii policies that...
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Jan 12, 2024
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chair gary gensler commenting about the x hack earlier this week. what have we learned?on that x hack where the sec account was taken advantage of by an unauthorized party and gained access to that account and then tweeted about an approval of a bitcoin etf a day before it was actually approved. gary gensler saying that the sec takes cybersecurity obligations serious, commission staff are addressing the impacts. we did get details on how this happened. they said the unauthorized party gained control over a phone number. they say there were two tweets, one of them was just bfc, the symbol for bitcoin, that was later deleted. this unauthorized party was also liking certain tweets. we're getting details on what went on with that unauthorized party but they say they are coordinating here with appropriate law enforcement and federal oversight entities including office of inspector general, the fbi and department of homeland security. so an update here on that incident we got earlier in the week. back over to you. >> very interesting. kate rooney, thank you very much. >>> stev
chair gary gensler commenting about the x hack earlier this week. what have we learned?on that x hack where the sec account was taken advantage of by an unauthorized party and gained access to that account and then tweeted about an approval of a bitcoin etf a day before it was actually approved. gary gensler saying that the sec takes cybersecurity obligations serious, commission staff are addressing the impacts. we did get details on how this happened. they said the unauthorized party gained...
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Jan 12, 2024
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gary gensler has fired shots about this. some will, some won't. options.e going to get options on these, and that will probably follow in the next several months. the bitcoin etfs right now, because the tracking is a good question for these. yeah, you see, so bitcoin is down about 2% today. it's been fluctuating 1.7 to 2.2. the tracking is much better than yesterday. in the coming days, mike, we should start seeing this track much more closely and if they start deviating in a big way that will get some people's attention. back to you. >> probably also get the attention of arbiters who try to close the gaps. >> that's what they're supposed to do. >> exactly. >> thanks a lot. >>> meantime oil prices are on the rise. crude hitting the highest level since late december after the u.s. and britain carried out military strikes against targets in houthi-controlled areas of yemen. nbc's ali arouzi joins us from tehran with the latest at this hour. ali? >> reporter: hey, mike. so despite repeated warnings to the houthis to stop disrupting those vital waterways in th
gary gensler has fired shots about this. some will, some won't. options.e going to get options on these, and that will probably follow in the next several months. the bitcoin etfs right now, because the tracking is a good question for these. yeah, you see, so bitcoin is down about 2% today. it's been fluctuating 1.7 to 2.2. the tracking is much better than yesterday. in the coming days, mike, we should start seeing this track much more closely and if they start deviating in a big way that will...
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Jan 11, 2024
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sec chair gary gensler didn't shy away from that in his statement, saying "while we approved the listings about the risks associated with bitcoin and said the cryptocurrency
sec chair gary gensler didn't shy away from that in his statement, saying "while we approved the listings about the risks associated with bitcoin and said the cryptocurrency
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Jan 12, 2024
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chair gary gensler about the spot etfs for bitcoin. we will hear about the issues with the boeing 737 max 9. we have the extended interview with bill ackman. >>> we will hear from bank of america and jpmorgan chase and wells fargo and citigroup. all of that micong up in the next two hours. "squawk box" will be right back. good hands! hospital bill for prime?! gaaaaap! did you just say gap?! he's talking about expenses health insurance doesn't cover. good thing coach prime knows about...say it one time! aflac! because aflac gets you money to help close that gap! now how do we get this goat outta here? (whistles) aflac! meet one of my new homies! gaaaaap! get help with expenses health insurance doesn't cover at aflac.com. elephant would've been scarier. (grunting) at morgan stanley, old school hard work meets bold new thinking. (laughter) at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. mo
chair gary gensler about the spot etfs for bitcoin. we will hear about the issues with the boeing 737 max 9. we have the extended interview with bill ackman. >>> we will hear from bank of america and jpmorgan chase and wells fargo and citigroup. all of that micong up in the next two hours. "squawk box" will be right back. good hands! hospital bill for prime?! gaaaaap! did you just say gap?! he's talking about expenses health insurance doesn't cover. good thing coach prime...
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Jan 9, 2024
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the sec chair gary gensler saying that the regulator has not, in fact, approved bitcoin eds and thathere x account was compromised. let's look at what has been going on and bring in pdf analyst eric balchunas. a lot happening at the sec in terms of why and how this happened. ultimately i guess the market kind of moved on the rumor and sold on the fact. but what do you make of all of this? eric: i am not a crypto person. i am an etf person. . but i have been in the crypto world for about six months in an entrance way. and this is. par for the course. though this is the sec, so it is a bigger deal, obviously, but their wares a couple of false positive and fixed news events that have happened since blackrock filed the etf application, and today. so i am used to the twists and turns. that said, i think it was hacked. but what is weird about the heck is this, we are expecting tomorrow at this exact time when the tweed went out, exactly 24 hours, for the approval to happen. we heard it would happen between 4:00 and 5:00 p.m. eastern on wednesday. the tweed went out exactly 24 hours before
the sec chair gary gensler saying that the regulator has not, in fact, approved bitcoin eds and thathere x account was compromised. let's look at what has been going on and bring in pdf analyst eric balchunas. a lot happening at the sec in terms of why and how this happened. ultimately i guess the market kind of moved on the rumor and sold on the fact. but what do you make of all of this? eric: i am not a crypto person. i am an etf person. . but i have been in the crypto world for about six...
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Jan 10, 2024
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what are some of the red flags that gary gensler does not like?herine: what we have seen from gensler, from the chairman, is that he has some concerns around the exchanges, the bitcoin exchanges, feeling there is not enough separation between the different business units. that is something he has been saying for a long time. he's definitely behind the scenes having conversations with them and trying to have a dialogue about how to make that move in a direction where the s.e.c. will have more comfort will how -- with how they work operationally. vonnie: all right, looking forward to seeing you again soon. it is off to the races, or get the games commence, or whatever you want to say. katherine dowling, cco at bitwise asset management. coming up, one of the biggest players in taiwan's life insurance industry is optimistic ahead of a looming presidential election. our exclusive would nan shan life insurance chairman chung yin, next. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town nam
what are some of the red flags that gary gensler does not like?herine: what we have seen from gensler, from the chairman, is that he has some concerns around the exchanges, the bitcoin exchanges, feeling there is not enough separation between the different business units. that is something he has been saying for a long time. he's definitely behind the scenes having conversations with them and trying to have a dialogue about how to make that move in a direction where the s.e.c. will have more...
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Jan 10, 2024
01/24
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the sec and its chair, gary gensler, quickly posted on x that the sec account was compromised and theator had not yet approved the listing in trading of spot bitcoin exchange traded products. the erroneous tweet also included graphic with a quote from chair gensler, a second tweet that also said "$ btc". bitcoin�*s ticker symbol was also posted but was then almost immediately deleted. for bitcoin�*s value, a bit of a ride. the cryptocurrency climbed to nearly $48,000 on the false news and fell back down to $45,000 with reality. let's discuss the background to this in more detail. i'm joined now by the independent banking analyst frances coppola. nothing is surprising in the world of bitcoin or crypto. the hacker sounds like there has been quite a frenzy. it is hacker sounds like there has been quite a frenzy.- been quite a frenzy. it is so c to. been quite a frenzy. it is so crypto. absolutely. - been quite a frenzy. it is so crypto. absolutely. and - been quite a frenzy. it is so crypto. absolutely. and i. been quite a frenzy. it is so - crypto. absolutely. and i mean i'm presumably
the sec and its chair, gary gensler, quickly posted on x that the sec account was compromised and theator had not yet approved the listing in trading of spot bitcoin exchange traded products. the erroneous tweet also included graphic with a quote from chair gensler, a second tweet that also said "$ btc". bitcoin�*s ticker symbol was also posted but was then almost immediately deleted. for bitcoin�*s value, a bit of a ride. the cryptocurrency climbed to nearly $48,000 on the false...
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Jan 10, 2024
01/24
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i reamed her about gary gensler and how upset the chairman is over this entire bitcoin folly. and three hours later all hell breaks loose at the sec. jonathan: the breach was not due to any issues with that system adding the account did not have two factor authentication enabled at the time of the incident. pretty embarrassing stuff for the sec. a lot of people have been waiting to see the result of. tom: you see this with the number of people. and also the desperation to get out front on this. ages ago we had gas wars where it would be $.29 a gallon and there would be a gas war. that's where bitcoin is. >> in and around 46 k. we need to talk about a better mood. on this program yesterday publishing shortly thereafter rest in peace, consumer expectations are climbing as inflation is calling. small business sentiment hitting a five months high. tom: it is there and you can see it in the data. 12.83 on the vix is all you have to know about in the market. we see today with the nasdaq. the drawdown on this crushing difficult january and the dow jones industrial average is. >> no d
i reamed her about gary gensler and how upset the chairman is over this entire bitcoin folly. and three hours later all hell breaks loose at the sec. jonathan: the breach was not due to any issues with that system adding the account did not have two factor authentication enabled at the time of the incident. pretty embarrassing stuff for the sec. a lot of people have been waiting to see the result of. tom: you see this with the number of people. and also the desperation to get out front on this....
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Jan 18, 2024
01/24
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gensler who when announcing his this said go ahead but i wouldn't do it. wondering what you make of that. >> i just saw that amazing speech on capitalism by the argentinian president and he shows how governments and countries grow in extraordinary ways with free market capitalism and as government start to meddling businesses, and try to dictate what everybody does in the country, that turns into collectivism or socialism and doesn't work. economies go flat and you end up with more poverty. if you want people off of the streets, you want freedom. bitcoin allows that freedom. it is transparent, it is open, globally accepted and it will save retailers 2% which is a pretty big number for a retailer. julie: are still bullish on it. i want your take. >> i do like that they finally said okay to etfs but they have so much farther to go because it is completely legal as you mentioned in el salvador, other countries, many other countries are taking it up and saying why don't we make this part of our global economy, and cheaper accounting and a better system of econ
gensler who when announcing his this said go ahead but i wouldn't do it. wondering what you make of that. >> i just saw that amazing speech on capitalism by the argentinian president and he shows how governments and countries grow in extraordinary ways with free market capitalism and as government start to meddling businesses, and try to dictate what everybody does in the country, that turns into collectivism or socialism and doesn't work. economies go flat and you end up with more...
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Jan 18, 2024
01/24
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. >> i think, gary gensler priorsed more lawyers to lit dwait the industry described as, regulation through, if we took time to codify rules of the road, most of the industry crypto, countries around the world have leaned in even european union 27 countries have come together to create a construct for how crypt should be regulated in united states we haven't done this i jokingly suggested maybe just type in chatgpt, more than u.s., ftc has done frustrating even i guess yesterday there is a court hearing in coinbase, the judicial system continues to slap down, overreaching, reason lost against ripple the reason they were dragged kicking and screaming to have etf, i think gensler has been been active, active on his agenda not people's agenda. >> i wish i had a clear answer to that i think technologies have ever to stay it is a indicationing frustrating spending so much time judicial process to get clarity we could do that as many other countries like japan ukk uae switzerland landed have ever not small economies doing the work to provider clarity u.s. i think a political agenda not a policy a
. >> i think, gary gensler priorsed more lawyers to lit dwait the industry described as, regulation through, if we took time to codify rules of the road, most of the industry crypto, countries around the world have leaned in even european union 27 countries have come together to create a construct for how crypt should be regulated in united states we haven't done this i jokingly suggested maybe just type in chatgpt, more than u.s., ftc has done frustrating even i guess yesterday there is...
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Jan 10, 2024
01/24
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chair gary gensler posted an update saying the s.e.c. compromised and an unauthorized tweet was posted. the s.e.c. has not approved the listing and trading of spot bitcoin exchange traded products. the official at safety account from x later posted it completed a preliminary investigation and it found that the compromise was not due to a breach of x's systems, it says the unauthorized user gained access by obtaining control over a phone number associated with the s.e.c.'s account and it also said the account did not have two-factor authentication enabled. the market expects the regulator at some point to green light spot bitcoin etf as possibly as soon as today. we're going to speak to a former s.e.c. enforcement attorney about the situation in just a bit. >> and consumer spending finished 2023 on a positive note. total card spending for household increased by 0.2% year over year in december. the survey also shows that high income household wages growth dipped and lower income saw some growth according to bank of america's consumer check
chair gary gensler posted an update saying the s.e.c. compromised and an unauthorized tweet was posted. the s.e.c. has not approved the listing and trading of spot bitcoin exchange traded products. the official at safety account from x later posted it completed a preliminary investigation and it found that the compromise was not due to a breach of x's systems, it says the unauthorized user gained access by obtaining control over a phone number associated with the s.e.c.'s account and it also...
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gary gensler hates it. neil: would have thought more percolated.ou turn out with a certain guy at another network, they follow all his calls. i feel for him because this is not -- neil: i would go with your restaurant calls. charles: i'm very good, us charles: neil: the steakhouse. and by the way, every now and then,. does a good steak. the guy that really runs it is nelson. neil: we covered everything, food for thought. charles: how was your bitcoin? lauren: 1 after this. he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. somebody would ask her something... ...and she would just walk right past the
gary gensler hates it. neil: would have thought more percolated.ou turn out with a certain guy at another network, they follow all his calls. i feel for him because this is not -- neil: i would go with your restaurant calls. charles: i'm very good, us charles: neil: the steakhouse. and by the way, every now and then,. does a good steak. the guy that really runs it is nelson. neil: we covered everything, food for thought. charles: how was your bitcoin? lauren: 1 after this. he hits his mark...
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Jan 23, 2024
01/24
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gary gensler, the chairman, is the deciding vote on this.rats, he's a democrat, he did approve bitcoin etf, there are head winds from him. he has questions whether ethereum, and etf, it may not be a currency, he registered mixed feelings at least vocally. that's where we are, head winds for the industry, sell the news and a major correction going on. i don't think we are in crypto winter, 17,000. it is up for the last six months. head winds. one thing i will say to you again. on these etfs and whether it is mainstream, can you buy a slice of pizza with bitcoin? can you go to john's pizza and by a slice? i don't think you can. that's a problem. is that means you're going to -- and that's your call. thank you very much. we were talking in the break about this. what is going on. >> reporter: charlie had the nail on the head with the oldest trick in the book, by the rumor, sell on the news. neil: technically a bear market. >> the ftx bankruptcy settlement. and the all bitcoin etf. beyond that, 2004, when the gld came out to track gold's movement
gary gensler, the chairman, is the deciding vote on this.rats, he's a democrat, he did approve bitcoin etf, there are head winds from him. he has questions whether ethereum, and etf, it may not be a currency, he registered mixed feelings at least vocally. that's where we are, head winds for the industry, sell the news and a major correction going on. i don't think we are in crypto winter, 17,000. it is up for the last six months. head winds. one thing i will say to you again. on these etfs and...
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Jan 17, 2024
01/24
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stuart, this all comes as sec chair gary gensler is attempting to reign in the wild west at crypto andgent sued over 50 companies in crypto under his leadership. i'll say, these cases are very merky. there's no clear definition, stuart, of what type of asset crypto is. but if the sec lose this is one, it could spell disaster for any push to regulate this base. back to you. stuart: it's a mess. that's my convenient explanation. it is a mess. kelly, that was a good job though of explaining it to me. good job. see you later. tepper is still with me. change the story here. is bitcoin a replacement for gold as a hedge against world chaos? >> i would not go that far. i think it could be like a safe haven if you live in venezuela and lost confidence in your own currency. but bitcoin is a speculative asset. that does not mean that you shouldn't own it. i think you need to own it in the right amount. it typically does well during times of additional liquidity so when interest rates are coming down it does well. when fiscal stimulus is going up, it does well. if we were talking safe haven status
stuart, this all comes as sec chair gary gensler is attempting to reign in the wild west at crypto andgent sued over 50 companies in crypto under his leadership. i'll say, these cases are very merky. there's no clear definition, stuart, of what type of asset crypto is. but if the sec lose this is one, it could spell disaster for any push to regulate this base. back to you. stuart: it's a mess. that's my convenient explanation. it is a mess. kelly, that was a good job though of explaining it to...
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Jan 8, 2024
01/24
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caroline: when you read between the lines, it feels like gary gensler really does not want to do thisust put out a post, a thread of posts, talking about how investments in crypto assets could also be exceptionally risky and often volatile. a number of major platforms in crypto assets have become insolvent or lost value. investments in crypto assets continue to be subject to significant risk. he's doing this through clenched teeth if he does it at all. what if it does not happen on january 10? what if we are not able to trade immediately? >> i think it will happen in the next 30 or 60 days but the question is wind as a go live? how long can he delay it from going live? april or may or june is realistic. past that he runs into legal risk and in his mind he is going to compromise like giving the bitcoin etf but not ethereum, etc.. the crypto community will be happy just getting the bitcoin out the door. ed: you mentioned harboring as a key event, future catalyst for bitcoin in 2024. many of the guests last week also referenced that. my question is what is your big picture bitcoin call f
caroline: when you read between the lines, it feels like gary gensler really does not want to do thisust put out a post, a thread of posts, talking about how investments in crypto assets could also be exceptionally risky and often volatile. a number of major platforms in crypto assets have become insolvent or lost value. investments in crypto assets continue to be subject to significant risk. he's doing this through clenched teeth if he does it at all. what if it does not happen on january 10?...
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Jan 10, 2024
01/24
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gensler has his own personal account which they used ironically to say the other account is somethingccurate. the tweeted out to the gary account that was inaccurate, if you're trusting things on that platform how do you know which one to trust at this point? if these platforms are packable in this way, can anybody rely on anything in terms of something market moving that they see on that platform given the history here of people getting hacked over time? >> thanks very much, appreciate it. >>> further ahead, getting some tricks of the trade. cnbc launching its first-ever paid online course for jobseekers. will give you a preview and talk about it a little bit when power lunch rerntus. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) you got this. let's go. gobble gobble. i'v
gensler has his own personal account which they used ironically to say the other account is somethingccurate. the tweeted out to the gary account that was inaccurate, if you're trusting things on that platform how do you know which one to trust at this point? if these platforms are packable in this way, can anybody rely on anything in terms of something market moving that they see on that platform given the history here of people getting hacked over time? >> thanks very much, appreciate...
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Jan 10, 2024
01/24
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there's a gary gensler tweet that says, remember to set up multifactor authentication and use strongasswords. also, you know, eamon and david, the s.e.c. has been really on top of this issue of cybersecurity. they put in place new rules that just went into effect that forced, you know, public companies to disclose more when they are attacked. i know the s.e.c. is not a public company, but they're going to have to disclose a lot of information here. it raises a lot of questions. >> those rules just went into effect in december, sara. you're exactly right. and a lot of public companies are now feeling under the gun to disclose a whole lot more than they did in the past as a result of the s.e.c. pushing them on cyber disclosures. we're going to have to see now whether is s.e.c. follows its own rules here. they don't necessarily apply to the s.e.c., but in good faith, will they follow their own rules and disclose exactly what -- or as much as they can what they know about what happened here. how did this exactly happen? was it social engineering? was somebody bribed inside the s.e.c.? wa
there's a gary gensler tweet that says, remember to set up multifactor authentication and use strongasswords. also, you know, eamon and david, the s.e.c. has been really on top of this issue of cybersecurity. they put in place new rules that just went into effect that forced, you know, public companies to disclose more when they are attacked. i know the s.e.c. is not a public company, but they're going to have to disclose a lot of information here. it raises a lot of questions. >> those...
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Jan 11, 2024
01/24
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gensler was not exactly saying the most robust things about it, that angered kathy would but what did you make of his push and pull on this? >> if you look closely at the remarks, he pointed to grayscale's victory last year. it is unfortunate the sec initially denied the application to uplift. we did need to make the tough decision to sue our regulator, we got unanimous victory in court, and not only have they uplifted to nyc but paved the way for additional products come to market and we are opening access to crypto for another group of investors. charles: there is a maturation going on here. having retail being able to buy it on a real exchange, i am sure the people at coin base will be annoyed but publicly traded established exchange is a huge step towards mainstreaming crypto. jack: fear that. charles: the rubber will meet the road at some point. is bitcoin which is created, not backed by anything, it is created by a bunch of computers, people and computers trying to figure out complex mathematical questions, is this thing, it is really like the value is pretty nebulous. can that
gensler was not exactly saying the most robust things about it, that angered kathy would but what did you make of his push and pull on this? >> if you look closely at the remarks, he pointed to grayscale's victory last year. it is unfortunate the sec initially denied the application to uplift. we did need to make the tough decision to sue our regulator, we got unanimous victory in court, and not only have they uplifted to nyc but paved the way for additional products come to market and we...
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Jan 11, 2024
01/24
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if you look at the language in gary gensler's statement about the approval he specifically points tohe grayscale case and says that changed the circumstances. why he felt it was the most sustainable path forward to approve the listing in trading of these etp's. how does it feel? michael: it is definitely a historic day. joining you guys live from the floor of the new york stock exchange, this is the culmination of 10 years of work. it is a huge thank you at this moment to our investors for being patient and supporting us, a huge thank you to the grayscale team. looking back on the last couple of years, making the decision to sue our regulator, to have that unanimous victory in court, and all that come to fruition and actually have gbtc a blessed on the new york stock exchange as the world's second-largest commodity etf is such a historic moment and such a milestone. thrilled and feeling really good today. sonali: the largest crypto fund already in the world for bitcoin. how do you go around attracting new assets to this etf form? what do your conversations with clients look like toda
if you look at the language in gary gensler's statement about the approval he specifically points tohe grayscale case and says that changed the circumstances. why he felt it was the most sustainable path forward to approve the listing in trading of these etp's. how does it feel? michael: it is definitely a historic day. joining you guys live from the floor of the new york stock exchange, this is the culmination of 10 years of work. it is a huge thank you at this moment to our investors for...
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Jan 17, 2024
01/24
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if the opposite happens, look for gary gensler to bring more cases. back to you. thank you very much. for its point about it coin pulling back today. volatility index, vix up 6.6%. if you look at the intraday you will see it had been up 9% earlier. a slight bit moved race on a day where we got very strong retail sales numbers which pushed yields on treasurys up, fed funds futures, the bet whether the fed will cut rates in march have dropped precipitously. tomorrow we're back with another all-star lineup. the wolf of investing is he now calling himself, author jordan bell forth, yes the original "wolf of wall street," spent prison time, redeemed himself. galaxy founder ceo and bitcoin enthusiast, mike nova is here and frank mccourt, jr., all of them joining us. you do not want to miss it. we are the best in the business at least according to charlie gasparino. [closing bel
if the opposite happens, look for gary gensler to bring more cases. back to you. thank you very much. for its point about it coin pulling back today. volatility index, vix up 6.6%. if you look at the intraday you will see it had been up 9% earlier. a slight bit moved race on a day where we got very strong retail sales numbers which pushed yields on treasurys up, fed funds futures, the bet whether the fed will cut rates in march have dropped precipitously. tomorrow we're back with another...
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Jan 12, 2024
01/24
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but gary gensler reminding investors today to be cautious. >> well, look, bitcoin itself we did not approvedorse. this is a product called an ex-change traded product, a way that investors can invest in that underlying, non-security commodity called bitcoin. but, yes, investors i think should be aware that this, the underlying asset, is a highly speculative, volatile asset. >> for more here, let's bring in robinhood's chief brokerage officer with kate rooney. kate? >> great to see you here. i want to start on those comments you just heard about bitcoin etfs, that they don't align with a balanced portfolio. do you have any of those same fears around investor protection? >> we are always making -- we always want to ensure that whatever we're offering our customers is suitable. but i think they've made it very clear that they think there is a segment of our customers that feel that this is an important technology and asset class that has a future and as a result they want it to be a portion of their portfolio and have expressed that. >> sorry to cut you off, steve. maybe this is more of a phil
but gary gensler reminding investors today to be cautious. >> well, look, bitcoin itself we did not approvedorse. this is a product called an ex-change traded product, a way that investors can invest in that underlying, non-security commodity called bitcoin. but, yes, investors i think should be aware that this, the underlying asset, is a highly speculative, volatile asset. >> for more here, let's bring in robinhood's chief brokerage officer with kate rooney. kate? >> great to...
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Jan 11, 2024
01/24
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keep in mind, the sec chairman gary gensler said today he said it's speculative, it's volatile. it's typically use ransomware terrace, activity and money laundering. it's not great. all right. but tom lee, a strategist to correctly predict the bull market last year. he's with company funds he said bitcoin now can go to 50,000. it's it's next. and then 150,000 by the end of 24 o'clock and 500,000 by the next 5 years. >> he's right than wrong. so i'm not going to knock i'm not telling people to go buy this right to say it's day where it's growing up and it's became much more interesting to people like me. >> it's it's making it more mainstream cryptocurrency. in general to maybe step closer to we'll see if if that's something that comes down the pipe. i do want to have got 60 seconds left. this was actually my favorite story in the ones that suggested for us today because the big mac is my favorite sandwich at mcconnell's and >> they're bringing back the double big mac. when is that going to happen? january 24th? it could be 4 patties versus 2. they sell 550 million big macs 1.5 m
keep in mind, the sec chairman gary gensler said today he said it's speculative, it's volatile. it's typically use ransomware terrace, activity and money laundering. it's not great. all right. but tom lee, a strategist to correctly predict the bull market last year. he's with company funds he said bitcoin now can go to 50,000. it's it's next. and then 150,000 by the end of 24 o'clock and 500,000 by the next 5 years. >> he's right than wrong. so i'm not going to knock i'm not telling...
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Jan 9, 2024
01/24
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chair gary gensler saying that an earlier tweet from the agency that bitcoin etfs were approved was not. let's bring in dmitry alperovitch. thank you for being with us. >> thank you for having me. >> what's the national take? what are the questions you initial littly ask? >> this is a big deal. this is the first twitter hack that i can remember, and there are been so many of them, that was actually really, really smart, and that was able to move the markets by $22 billion, almost $23 billion in market cap for bitcoin. someone could have really cleaned up here. this wasn't just a prank, as we've seen in the past where they're posting some scam or some message that is really irrelevant to the market. this was clearly designed to make some money here, and i'm sure that companies, investigative companies are tracking this right now, trying to figure out who could have benefited from it. >> but when it comes to figuring out who might have been behind this breach, this hack, where would you go first? as a security expert? >> well, i would be looking at the transactions on the block chains, an
chair gary gensler saying that an earlier tweet from the agency that bitcoin etfs were approved was not. let's bring in dmitry alperovitch. thank you for being with us. >> thank you for having me. >> what's the national take? what are the questions you initial littly ask? >> this is a big deal. this is the first twitter hack that i can remember, and there are been so many of them, that was actually really, really smart, and that was able to move the markets by $22 billion,...
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Jan 9, 2024
01/24
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the sec chair gary gensler who has been opposed to a bitcoin etf posted a note of caution on the platformas twitter, a warning that crypto investments can be exceptionally risky and saying so it -- some platforms have become insolvent and investments can be subject to significant risk. a lot of bitcoin bulls said he's kind of throwing shade, but analysts seem to indicate all support. we are looking at a likely decision in the next 48 hours. you are also seeing some rush by perspective etf issuers. haslinda: speaking of bitcoin bulls, they are looking at $50,000. what is the outlook? reporter: they believe if there's a yes from the sec, we will quickly see 50 is the next target for bitcoin and a lot of different banks, notably standard chartered bank, estimate 150 billion dollars of inflow into egf -- etf's to add further fuel to the rally. it is the anticipation causing bitcoin to rally 172% in the last 12 months. haslinda: su keenan, thank you for that. a ceo says market value is likely to double in three years as there are search and demand for a idea -- ai gear. in videos gold standard
the sec chair gary gensler who has been opposed to a bitcoin etf posted a note of caution on the platformas twitter, a warning that crypto investments can be exceptionally risky and saying so it -- some platforms have become insolvent and investments can be subject to significant risk. a lot of bitcoin bulls said he's kind of throwing shade, but analysts seem to indicate all support. we are looking at a likely decision in the next 48 hours. you are also seeing some rush by perspective etf...
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Jan 9, 2024
01/24
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gary gensler who has been against a spot bitcoin etf posted a note on at. -- on x.de. it notes investments in crypto can be risky. it notes some platforms have become insolvent and that such investments can be subject to risk. bitcoin pushing to levels not seen since before the collapse of the crypto sector in 2022. meanwhile there's been a bit of a rush by the prospective etf issuers to cut their fees. notably grayscale which used to be the only game in town. analysts have been pretty thing we would see this posturing ahead of any approval. >> $50,000 now within reach. su: some are saying higher. the main projection is you will see an enormous inflow of money is the result of a possible approval. crypto is being -- bulls are saying $50,000 is the next stop. bitcoin touched an all-time high of 69,000 dollars in november, 2021 and last traded at $50,000 in december of that year. bullish reports from banks including standard chartered estimate that between 50 to 100 billion of inflow in a bitcoin etf's this year could really add fuel to the rally. we saw just in the l
gary gensler who has been against a spot bitcoin etf posted a note on at. -- on x.de. it notes investments in crypto can be risky. it notes some platforms have become insolvent and that such investments can be subject to risk. bitcoin pushing to levels not seen since before the collapse of the crypto sector in 2022. meanwhile there's been a bit of a rush by the prospective etf issuers to cut their fees. notably grayscale which used to be the only game in town. analysts have been pretty thing we...
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Jan 17, 2024
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gensler, expressing our concerns with the proposed rule on conflicts of interest and securitization. without objection, i would like to enter this letter into the record. while we support the goal of preventing bad actors from taking advantage of conflicts of interest and securitization, as required under 621 of the dodd frank act, this proposal goes far beyond the congressional mandate by outlawing many course activities that have nothing to do with securitization transactions. i'm concerned that this will impair the ability of securitization markets, which fund residential mortgages and auto loans. this would increase the cost and reduce the availability of consumer, mortgage and business credit for my constituents, when they are already struggling to make ends meet. mr. bentsen, can you tell us what harm this proposal will cause markets, and why is it important for this proposal to be more narrowly tailored? >> thank you, congressman, for the question. i think you and the congressman from wisconsin for weighing in on this issue. it's entirely the rule of this committee and congres
gensler, expressing our concerns with the proposed rule on conflicts of interest and securitization. without objection, i would like to enter this letter into the record. while we support the goal of preventing bad actors from taking advantage of conflicts of interest and securitization, as required under 621 of the dodd frank act, this proposal goes far beyond the congressional mandate by outlawing many course activities that have nothing to do with securitization transactions. i'm concerned...
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Jan 24, 2024
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diversification and the only free lunch i know gary gensler used to talk about that, that you need thaton. diversification is killing you >> is dupont a good example of that today >> we sold some dupont last week, because i said, what's it doing up here? the answer was, nothing. when you think about ed breen being a very seasoned hand, he got beat by china, by destocking there was too much inventory there's too much inventory in a lot of different places when it comes to industrial. look at 3m they had a quarter where there was too much inventory, and it meant that next quarter would be bad. what he's saying is the next quarter will be bad at dupont, but that was terrible. >> prelim guide here on q1 is below on sales, below on adjusted eps by quite a bit. they're looking for low 60s. street is at 88. they mentioned china specifically >> this is dupont we're talking about? >> yeah, look, i searched for what degree of negative word that i could come up with, because i don't have a new one other than the fact that when i spoke to them, i said, guys, you're looking at $65, and at the time,
diversification and the only free lunch i know gary gensler used to talk about that, that you need thaton. diversification is killing you >> is dupont a good example of that today >> we sold some dupont last week, because i said, what's it doing up here? the answer was, nothing. when you think about ed breen being a very seasoned hand, he got beat by china, by destocking there was too much inventory there's too much inventory in a lot of different places when it comes to industrial....
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Jan 18, 2024
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i actually sat in on -- or i listened in to a fireside chat with gary gensler of the sec where it wasll about ai and regulating the financial markets, and he believes that it's a net positive to society he thinks it's going to be a net positive but said there were these nodes in the financial system where regulators don't see and don't have access to and that's his main concern with regard to being able to fully regulate this based on the way that current system is functioning. those nodes, he didn't go into detail about what the nodes were, but they're out of his pursue and regulators' purview and that's his main concern. >> let's talk about this our next guest has been vocal about the impacts of ai, generative ai, a long-time investor in technology overall, roger mcnamee joins us i assume you heard altman's comments i would love to get your reaction to them >> i think microsoft and openai have orchestrated the greatest hype campaign i have seen in technology, which is really saying something i mean, what they have done to get the world to treat this tech as the next big thing is rea
i actually sat in on -- or i listened in to a fireside chat with gary gensler of the sec where it wasll about ai and regulating the financial markets, and he believes that it's a net positive to society he thinks it's going to be a net positive but said there were these nodes in the financial system where regulators don't see and don't have access to and that's his main concern with regard to being able to fully regulate this based on the way that current system is functioning. those nodes, he...
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Jan 9, 2024
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potentially a bitcoin etfs there and gary gensler had an extended thread with the risks involved. risky 2024. jonathan: let's talk about financial markets in the last week or so. the conflicting economic data, the conflicting earnings stories as well. you can identify a slow down. maybe we'll worry about what's happening in the broader economy and companies like lululemon and abercrombie updating their outlook. nvidia release new products. tom: six trading days here and we could go down three more days and have another january 2, 3, 4. we go up like yesterday and it shows the immense uncertainty out there on top of bitcoin. jonathan: it's soft data versus hard data. so the survey data is not fantastic. you look at the hard data and things are ok. jobless claims are around 200 k. tom: jp morgan wrote that the job report was everything constructive and optimistic and yet half of america seems that on their back like when you look at the political debate. lisa: where at a moment where the market is moving faster than the fed would like. there is a concept that may be because people a
potentially a bitcoin etfs there and gary gensler had an extended thread with the risks involved. risky 2024. jonathan: let's talk about financial markets in the last week or so. the conflicting economic data, the conflicting earnings stories as well. you can identify a slow down. maybe we'll worry about what's happening in the broader economy and companies like lululemon and abercrombie updating their outlook. nvidia release new products. tom: six trading days here and we could go down three...
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Jan 12, 2024
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. >> gensler still hates it, apparently. >> i'm not going to talk about gary -- [laughter] but i did believe and it still remains, and this is the gary's position, that it's still one of the vehicles for illicit activity. i think no one can deny that. where i aim around to it and i came around to a different interpretation three years ago, there's a lot of merit to it. there's a lot of opportunity. it is a great store, and this is where you can debate, is it a good store -- >> you know how it's made, a bunch of computers figure out -- enter but the issue is if people believe that it can be an asset that can be crossed border. let's be clear, if you're in a country where you're fearful of your government and maybe this is one of the reasons why china has banned it, if you're in a government where -- if you're in a country where you're fearful of your future, fearful of your government -- >> right. >> -- or you're frightened a the that your government is devaluing its currency by too much deficits -- >> like us. >> i'm not going to go there. [laughter] >> the little elephant in the roo
. >> gensler still hates it, apparently. >> i'm not going to talk about gary -- [laughter] but i did believe and it still remains, and this is the gary's position, that it's still one of the vehicles for illicit activity. i think no one can deny that. where i aim around to it and i came around to a different interpretation three years ago, there's a lot of merit to it. there's a lot of opportunity. it is a great store, and this is where you can debate, is it a good store -- >>...