as bitcoin confidence soars word is that gary gensler will not be so accepting of the spot ethereum. this is a fascinating story. this is captivating wall street. a lot of wall street firms want to push a ethereum etf. ellie, my producer came back from a conference on etfs. all they talked about was the ethereum etf. people really believe, that gensler will approve this people at the conference, will approve it, he is looking to centralize the decentralize crypto market. that is what they're saying. hear is what i'm saying about people close to gensler on wall street, he is more skeptical about this one. i'm not saying it is zero or he will not approve this, liz but i'm saying gary gensler right now approving the ethereum etf is best described as a wild card. this is unknown territory. he has given both positive and negative sort of reviews on ethereum, whether it is an unregistered security or not. if it is an unregistered security then it is out there illegally and then that means it can't be an etf. bitcoin he was always pretty clear, that is not an unregistered security. it doesn

that is not gary gensler's mo. no, is a possibility. more than a theoretical possibility.bout ethereum or obtuse, ethereum he thinks it is a security or like bitcoin which he would approve or we give it another 30 days. they're thinking the people at asset management they're going to come back in a few weeks, take another shot of this, we'll look at it again, extend it another 30 days. then its off to the races. you can't underestimate the power of blackrock in this thing. larry fink, the case he would make, they're in a quiet period of course, that is why i'm saying it like this, the case he would make if he was talking to people in the biden administration which he has a strict line to is by taking -- direct line to, taking crypto out of the shadows, putting it on an exchange, having blackrock be the minister of this thing you can regulate it better than it is in the shadows. liz: people didn't want etfs to happen. etfs are like mutual funds only you trade stocks. you got to evolve. >> this is another level with crypto which has a very controversial reputation, i know th

i'm not the first, i don't know gary gensler and might be the nicest in the world and people know hime's a leader. like a lot of people. >> i'm just telling you what i'm hearing. >> thank you, charlie. >> have a good weekend. liz: interesting way you heard it. >> this sex collusive on -- this is exclusive on the claman countdown. liz: thank you. you deserve to know if we're closing at s&p 500 and we're above at 5,025 and comes down to last couple of minutes because yesterday it did touch 5,000 seconds before the close but then the dow is down for the month just plat basically and slightly for the week. that could change for a few seconds and s&p closing one and a third higher for the week and nasdaq up 2 a 2.25%. a slew of analysts calling for investors to broaden out the portfolio beyond the magnificent 7 st stocks and count down closr has a list that's broad and fabulous 50 and liz: there are some magnificent names in here and add the 48, 47. >> it'll have to be the year we're see ago broad-based approach and look at companies in a number of ways and came back with something surpris

gary gensler coming up right after this. aren't what they're cracked up to be, try one where you know what you'll get. you know doug, ever since switching to workday you've been a real rock star. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! . >>> good morning. futures pointing to gains but the dow suffered worse day in almost a year because of some of the hotter than expected inflation data. lyft shares shooting higher in the pre-market. up about 20%. after up about 60% after-hours yesterday. turns out, someone added an extra zero to the earnings. talk about that. bitcoin gaining ground. one month since that crop of bitcoin etfs was approved. s.e.c. chair gary gensler. don't want to miss it, at the table. the f

i take fink over gensler on this battle.el into -- >> yeah, yeah. thank you, thank you for not interrupting me when i said that. liz: after nvidia reported stellar earnings in part due to artificial intelligence chip sales because they have an he can extraordinarily hot, now tech investors are turning to the company whose ticker is literally a.i. we are minutes away from c3.ai reporting fourth quarter results after the bell. analysts are expecting a loss per share of about 28 cents, revenue of 76.14 million f analysts are correct it would be a bigger than expected loss per share and lower revenue from the previous quarter, while c3.ai struggles with profitability, our countdown closer says, don't waste your time on that one park your money in a different a.i. play. we have palumbo cio phillippa lump bow. give the viewers the name and make your case. >> it was super exciting, sales up 20% year-over-year. they had the commercial business up0% year-over-year. margin went from 22 1/2% to 34%. return on investment capital is nort

liz: securities and exchange commission chairman gary gensler has a new target, openai.e niegz internal communications between its chief executive, sam atman, and other directors to see whether investors in the company were misled by the executive team. but securities lawyers say the case could be a hard one to bring. joining us now, charlie gasparino. can i just set this up by sayin- >> yeah. liz: do -- openai, behind the wildly popular chatgpt, and sam altman if was booted last month and brought back in this soap opera --? >> and you remember, the journal broke the story about a the investigation, get that clear, remember, they said they booted him because he didn't disclose some stuff to them. it was very vague. here's the problem, i think, with the case, and i'm talking with lawyers that are involved, okay? they point to two things. first off, it's not quite an investigation. it's an examination right now. and -- you've got to know a little bit about how the sec works. the o.c., the office of inspections, examinations and compliance, often does the first, you know, l

gensler and remind him to not release the news during our earnings call because i've not had the perfect ability to digest all of that. i think there is a high level of sensitivity around the issue you just described, liquidity in the government bond market. all of the adults understand how important that market is. my instinct is there's an understanding for how important firms like citadel and flow street art to the ecosystem. my feeling is however these rules wind up getting digested, these type of firms will continue to be important players in the market. there is a high level of understanding the government bond market is the most important market around all of this in terms of how it functions. sonali: you think if we take the market maker pushback, the new rules could impact liquidity at a time we are seeing massive issuance of new treasuries? billy: i don't think so is my short answer. it remains to be seen. i know there's a lot of regulations in the mix around this latest news. i think the sensitivity and the understanding of how important this marketplace really is in terms of

caroline: sec chair gary gensler. we can stick to all things bitcoin. etf's and approvals that have gotten some optimism throughout the entire crypto ecosystem and there has been an uptick in funding. i am pleased to say that pitchbook's fourth-quarter outlook is here. let us pick up where gary left off because you highlight within the report some of the regulatory uncertainties that handed -- that hangover crypto native exchanges, and i'm talking about the particularly decentralized one. how does that help optimism and help see them grow? robert: look, investors have looked at these centralized exchanges and see what has happened over the last 18 months. all of the -- a lot of the bad actors have been flushed out. are there others? possibly. investors feel more confident in how they can assess and diligence the bad actors. they really have to talk to us to do that now. we know that regulation will come and that is the big challenge in the u.s.. the last time we spoke i said the regulation arbitrage is not there yet. you are starting to see that now. th

. >>> we'll get more on the rise of bitcoin etfs tomorrow with gary gensler on "squawkbox."that. >>> coming up, disney one of the few bright spots today, but the rest of the media landscape not fairing as well. we'll take a closer look at the group after the break. we'll be right back. [disconcerting stomach gurgle] not again. maybe i should get this looked at? [suggestive stomach gurgle] zocdoc? [talkative stomach gurgle] you're right, i bet they deal with this all the time. dr. finley really puts you at ease. let's do it! you've got more options than you know. book now. >>> welcome back to "the exchange," everybody. the dow, worst day in 11 months. it really caught me by surprise, down 54 points. the russell 2,000, the biggest underperformer, down 3% with the nasdaq down 1.6%. here are some of the names hitting 52-week lows, including hormel. as you see there. on the flipside, waste management climbing 5% and hitting a new all-time high after beating earnings estimates. they also had a good golf tournament in phoenix over the weekend. cigma, walmart and travelers also touc

gary gensler has been very careful about not declaring it a security.can have your own idea of why. not declaring if they are not a security. and then you can have your own hypothesis why or why not. i will say that it opens the gate if one proof of stake, crypto protocol is not a security, but what about the and the next one. and so all of a sudden that his argument that these are all securities would go out the window. i am sure that there is a lot of internal to and fro around the question but the reality is that we have a futures etf and that was a logic that got the bitcoin etf approved. and so, my bias is that happen. sonali: his galaxy digital -- is galaxy digital going to go public? mike: you can call the sec and ask them when they will accelerate a group of companies that have been trying. we have had a very regulatory unfriendly regime over the last four years. we are seeing some thawing of that and it does not really fall until after the election -- thaw until after the election. if the republicans when it will thaw fast and even if the democ

institutions are not going to buy bitcoin until gensler's finished suing everybody about a it.r gains you got. kevin, mr. wonderful, come back in studio. bring if your fancy watches. it's great to see you. >> thank you, liz. [laughter] liz: we're going to be right back with charlie gasparino on no lanes' latest to get on the ballot in all 50 states. t where does thaogt stand? we'll let you know. voya helps you choose the right amounts without over or under investing across all your benefits and savings options. so you can feel confident in your financial choices. ♪ they really know how to put two and two together. voya, well planned, well invested, well protected. (ringing) - hey kaleb, what's up? how you doing? - hey, i'm good, guess what, i just had my 13th surgery. - really? i just had my 17th surgery. - well, you beat me. - well, i am a little bit older than you. - yeah it's true. how are you doing? - i'm doing good. i'm encouraged by seeing how people are coming together to help each other during times like these. - kind of like how shriners hospitals for children is there

i also want to thank our additional sponsors, sutter health, bank of america and gensler architects. we'd also like to thank all of our event sponsors here that are listed on the slides there below. and uh, our event planning companies and everybody who's participated. this is a real assemblage of different vendors and specialties and crafts in san francisco. i also want to recognize the chamber of commerce board members, and many of them are here today. would you please stand up? if you're a board member? now some people probably think we're crazy because we have over 60 board members, but it is really a representation of the vast array and range of businesses here in san francisco, both large medium and small. and i want to thank all the board members for your patience and your personal guidance as the chamber of commerce continues to grow. i want to point out in the back room that we have actually a beautiful heart with an image of the palace of fine arts there, and that is from the san francisco general hospital foundation. for those of you that are familiar, the hearts program h

lauren: gary gensler at the sec solid through your industry in the spot bitcoin etf working in investors think of do the same thing and approve a spot either etf. >> i don't see that happening in the next time that he could do it which is in q2 of this year, think eventually they will have to approve not only bitcoin and ether but many of these and it's going to become if you go back to the '90s people talked about internet companies now were talking about property same thing will happen here people will talk about the assets of the stock would be crypto and the weird thing in the corner in a be the mainstream thing and they're all good to be etf's. lauren: many people are starting to get their heads around bitcoin we can understand bitcoin and may be either a little bit but still launa, joyce quine, have an ets can potentially be? if you do for one do you have to do for all work you do for two but said he gives a thumbs up, what about the others. >> is a 5535 ets before they occurred if i remember correctly there could be thousands of etf's. when you see even sp y there is sp y levered

sec, with gary gensler, have not heard one word on what's the share couldn't?hat's the status of it? how about the eight that were indicted or were charged with trying to manipulate the market through the social media? that is the sec's role. our next step will probably be to write the ast and get, try to get some answers from them up it's a sad day when two governmental agencies, and finra gave us answers but it was just words. we need to hear from the sec the next step is to hold a hearing and get some accountability on it. so we'll see. charles: arrogance is so mind-boggling. it is so painful because most investors believe the sec is there to protect them and it feels like no, they're there to protect a broken system. representative, i can't let you go without asking about the real big news down in d.c. right now and that's the border. you know the senate passed a border bill and you know, you've got folks like mccarthy and even the border patrol i think union backing it but i know that the house freedom caucus is not necessarily a big fan, calling it a dump

june and july anda worked with chairman better or chairman begins herrera on this legislation and -- genslern this? >> i've talked with them a lot about stable coin, and i'm not sure if i've talked with them over the last couple of months on this topic, but we've had many, manyle conversations. >> another area that i think chairman gensler has stumbled in is his proposal on custody which many are not supporting and this is the sec are not proposing. >> looking at how that would impact the banks and something i'vecu discussed. >> thank you, madame secretary. turnco to cfpb director suggestg that fsoc used for the first time ever title 8 authority to address payment clearing anddi settlement activities do you support that? >> weaver not take an position on that. what i've said is that i think it's important for congress to address the issue and we've head recommendations and that's by far the preferred approach and looking to take this on. >> would you agree with the director that peer to peer payment activity are nonbank peer to peer payments with financial stability and to the financial syst

for biden to get elected she put gary gensler in the s.e.c.have been neutral and bitcoin instead the whole bitcoin army going for his opponent. you know, it was a strange hill to die on, but there's a small group of democrats that have been blocking progress, and so -- you know, it would be disingenuous to say republicans wouldn't be in the space right now. any any other democrat and if gets reelexed gensler there be will and guys in congress will feel priessure to do something i see the kind of regulatory logjam ending postelection no matter who wins. >> and thank you, sir. good to see you. >> thanks, guys. >> good luck at lunch. come back with a report, if you can. >>> coming up, fubo tv throwing a red flag on espn, fox sports and warner brothers discovery in that new proposed sports streaming alliance that platform arguing the joint venture would result in extreme suppression of competition. fubo tv. do they have a case? that's coming up when "squawk box" returns. stanley, (laughter) at 88 years old, we still see the world with the wonder o

are not convinced it has a strong use case and terrified the legal cases around bitcoin, sec chair gensler'smmending bitcoin would have to be mindful of the suitability requirements for clients. that means you get sued if you're not careful. next is the etf's overall equity investing beyond the magnificent seven. the investors have been throwing money at the round hill magnificent seven etf that launched last year, but it was a huge success at the end of this year. big inflows into other broader technology etfs but advisors are worried about concentration risks here and the discussions are centered on how to broaden out and invest in for individual investors staying on the edge of the tech space. they're talking about investing in themes like quality and even momentum investing, qual is getting inflows, the quality etf out there. finally, the most important thing that we're seeing is artificial intelligence etfs. they've been around for a while and recaptured some interest. the problem is defining what investment in ai looks like and which companies rex pose -- are exposed to it. the financi

and yes, i mean, "the journal" may try best as it can to get gensler involved and take a hard look ats because of the web of independence. they related it to what in the article? >> i don't think anybody was under the illusion that you were getting a typical board or company to begin with. my god, remember solar city? yeah. you know. it's different. >> whenif you read the piece, d you really feel differently about musk? >> no. >> i didn't either. >> it was nothing i didn't know. >> he's a genius, and there are times when he has a party. >> so, your view is just caveat emptor on governance? >> this is in the "griselda," which is really good. parties on yachts. >> tesla now worth about half of meta after that record-setting market cap surge on friday. biggest by any company ever. we'll talk about what that means for the business and the future of social media. take a look at the premarket. there's going to be a lot to get to this week between the likes of disney and paypal and uber. back in a minute. oh, charades! - okay! - love it! umm... first word. - tonsillitis! - nostril! uh-uh...

i also want to thank our additional sponsors, sutter health, bank of america and gensler architects.so like to thank all of our event sponsors here that are listed on the slides there below. and uh, our event planning companies and everybody who's participated. this is a real assemblage of different vendors and specialties and crafts in san francisco. i also want to recognize the chamber of commerce board members, and many of them are here today. would you please stand up? if you're a board member? now some people probably think we're crazy because we have over 60 board members, but it is really a representation of the vast array and range of businesses here in san francisco, both large medium and small. and i want to thank all the board members for your patience and your personal guidance as the chamber of commerce continues to grow. i want to point out in the back room that we have actually a beautiful heart with an image of the palace of fine arts there, and that is from the san francisco general hospital foundation. for those of you that are familiar, the hearts program has been

chair, gary gensler. stay tuned. question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. a car is a car... is a spa. an office. hi! hello! a cinema. so automated. yes, the definition of a car changes... but one thing stays the same. it's a mercedes-benz. >>> welcome back to "squawk box," everybody. take a look at the futures this morning. they've taken a marked turn for the worse after we got that cpi number that was hotter than expected. 0.3%, versus the 0.2% gains that the market had been anticipating. still the hottest number back to september of 2023. if you look at the dow right now, down by 320 points. s&p futures are down by 60. the nasdaq down off by 300. the dow is down by about 50 points. before that number, the nasdaq was down by maybe 110 points. s&p really looking at quite a bit of weakness here.

. >> it took a lawsuit to get gary gensler to back down on this, right?y here recently and you saw the interview, i would love to get your reaction to it, but left to his own devices, this is not the outcome he would have preferred. i think that's -- at least in between the lines that's what i think he has said. >> he actually wrote a pretty strong dissenting letter around this and focused on the grayscale lawsuit. >> which begs the question on the ethereum front if that is to move forum in a meaningful way, does that require another suit >> it early to say too early to say i think we have a similar dynamic in the market where the s.e.c. has allowed for and approved ethereum futures etfs to come to market. the data suggests in a very similar way to bitcoin that spot bitcoin and bitcoin futures have a tie, the markets have a 99.9% correlation, same is true around ethereum we have a very similar dynamic here. >> give us a little bit of a behind the scenes over the last month and a half since this has now happened, there have been outflows from your firm, a