see for the friday's job number. the market is very jumpy within this range. so we'll see if this rally has followthrough in the morning. >> that's does it for the "closing bell." don't move because "fast money" begins right now. >> see you tomorrow. "fast money" starts right now. live from the nasdaq overlooking new york snowy times conveyor. i'm melissa lee. tonight on "fast" crypto carnage. all getting smoked today and a major bitcoin exchange could be to blame. we've got all the details. it is the moment every one on twitter han waiting for, actually screaming for, we'll see if the favorite coin ripple. when we ripple be added to coin base. later disney's magic moment the company gearing up for a big

shareholder meeting tomorrow. you've got the inside scoop but first we start off with the markets. a big reversal today. the dow rallying into the close after falling nearly 350 points at the lows of the session but while everyone was paying attention to all the d.c. chaos and latest comments about a trade war, one area of the market could be flashing a major warning sign and that would be crude, tanking 2% today. oil has been the leading indicator for stocks in the past three months. two of the biggest energy names out there, exxon and chevron have been in the gutter. exxon hitting a 52 week low today after hitting a high just a few weeks ago. is this a warning sign for the broader markets? >> i don't think this is particular a warning sign. this is just -- to be honest, this is just exxon and chevron in particular. if you look at exxonmobil and we said this for quite some time, we said would culminate around 89 1/2 and look where it traded

up to earlier this year. at a certain point valuation is compelling. they're making the move from crude to chemicals which i think is smart. they said they'll double earnings by 25 or so which is seven or eight years from now. if they're making the turn in their business at 15 times earnings at current levels maybe it's t gets interesting right here. >> i agree. exxon was very specific to sort of commentary coming out of their call. these -- it's all about the dividend. they didn't outline a buyback plan. they didn't outline from a dividend perspective. royal dutch say 6% dividend yield. i look at that versus exxon here. if you're going to invest i prefer royal dutch. >> is it a 2% move it's not a specific story, is it a broader tell >> it depends. why do you own exxon do you want oil exposure

if you look at the correlation between exxon and oil. they have significant exposure to chemicals and so that's relevant but i also think that it's not -- the dividend part to me isn't enough. i think with rates rising, a 4% yield could quickly become not worth it if other things happen so oil comes in because marginal high cost producer. there's additional downside from that. i wouldn't own it for dividend or pure oil exposure. >> the broader question, though, is why is oil down today and that does that tell us anything bigger about the global economy or the u.s. economy and in putting the fear about terrorists, does that slow growth. >> there's a massive conference this week in houston, cambridge energy, this has got all the major players. there was some expectations that saudis and opec were going to have a sit down and some meeting of the minds that would at least give saudi the pathway to get

them out of the way. it hasn't happened. what's disappointing about oil, i'll take that side of it, think of the weakness in the dollar over the last couple months and oil has not broken out. meanwhile the supply/demand dynamics are actually very well balanced. we had bad api numbers yesterday. i do think that oil largely is traded very well during a difficult time for the market. it's below the 50 day. when it fell below the 50 day it hadn't really been there since june move. i don't think that what you're saying that oil is an indictment. exxon, we love exxon as a company. we hate it as a stock and i think that's right. this is a company that's going to spend a lot more on capex. they say they'll get to 5 million barrels a day. they're wrong. i don't think exxon's terribly cheap here. >> if you look back in what carter's been talking about from a technical perspective, oil, crude looked like it was going to pull back technically. the setup wasn't necessarily set

up well for crude. in general, today, i look at it and say way the market reacted, i look at it and say we have to wait for a signal before we can get aggressive -- is. >> would be what >> we're going to hear about whether or not tariffs are going through, whether there's exemptions with mexico or canada. market probably rallies, knee-jerk reaction. then we need to hear more clarity about fed. what the fed's plan is. we have obviously a meeting coming up and what their game plan is. >> the end of this week is going to be a big one. >> absolutely. >> it was february 2r7bd. >> and we'll get clarity on trade by the end of the week. >> remember, what the market's been doing over the last few days. it's actually being led by rates moving higher or moving along with rates. some people have gotten comfortable. we got a handle on -- ten year yields and i've been concerned. i'll put myself out there as someone who's expressed concern about where inflation is behind

the curve. ten year yields if you look at the forward curve and where the dynamics are on the deficit, i don't think that ten year yields right here and now can move higher. i think they're going higher. the market has taken some time to get comfortable with this. we've been flat on the ten year if you look at it. 285 to 288 for a month with a lot perform good data. >> if we have tariffs, though and tariffs are inflationary, does that ten year yield get a bump higher? >> yes. it gets a bump higher. you can come up with a few scenarios. if that doesn't happen and people are feel more comfortable and the economy does well, we're going higher that way. the other way, wouldn't be nearly as good. i'm not concerned about the ten year so much if we have a the procedure sort of the fed has laid out which is three maybe four hikes is there, maybe. and them getting, you know, shrinking the balance sheet. as long as we don't have a big spike, that's what i'm concerned about. >> i think the data suggests there should be four hikes this year and i am concerned.

that's the wild card that nobody talks about. it's fascinating to me that the vix trades down 17 1/2. discounting all the things that we basically talked about. i do think in this environment the vix is too cheap. you can't dismiss the price action today. it was pretty impressive. >> big oil stocks not the only ones weighing in the market today. two big dow darlgz also suffering on talks of trade war, boeing and caterpillar both are now 7 and 12% of their 52 week highs. our next indices. let's go off the chart with robert sluymiyer. >> maybe we can compare it to something else. couple points here. we talk about the bull market been 9-years-old this week but it's really not the case for the majority. we had a major cycle low right around these 2016. so from a cycle standpoint we're

still pretty early. boeing's had volatility herean looks very much like the market. it is the market profile coming off those 2016 lows. look at this. this relevant performance here flat almost all the way through until 2016 and now starting to emerge. the 200 days substantially below. it could waffle and trade around here for a while. the key point is this is a stock that's had a big run and it's in a period of consolidation. it's not a breakdown at this point. be very caution getting overly negative. caterpillar, is the same sort of setup. you have a name that put in a big cyclical low in 2016 after peaking back in 2014. there's a bear market. big run and now we're getting a bit of a consolidation. it's not a major breakdown. a lot of these stocks that we're seeing that have had big runs are showing periods of just consolidating and pausing. we see that same sort of performance in the relative strength.

however, so financials have been one of the areas in addition to technology that are starting to emerge. if we go back to 2011 and 2012 on a lot of the financials, that's where they put in their relative performance low. here's that 2016 low again, here's that relative strength picking up. it's been a period of consolidation in a relative basis. it's still pretty timely in here. big trading isn't that extended. if you put it in the context of a much broader portfolio. we have industrials that are going through a period of consolidation. many of the financials are working. this is an excellent name to be looking to diversify a portfolio and still a pretty timely name that's not stretched. >> all right. robert's coming on over. >> yes, bring him over. >> thank you. so you like goldman, how does it compare to the other financials. >> if you look at the exchanges

which have been the dominate they look very much like tech stocks. if you look at a lot of the other brokers, morgan stainly, schwab, they're leading the sector goldman's a laggard. >> it's definitely the laggard. jpmorgan for example, trades a premium. the stock -- my contentions always this. stock that stays at an all-time high for a period of time, market doesn't allow you that long a period to sell the highest which means by definition it's going higher. >> great point. we can even extend that argument to technology whether we have all these software names and service stocks. the market was very good coming off the lows in february and going back to the all leadership. a name like jpmorgan, you can say the same thing about bank of america. if you're looking for names and nervous about stretching for stocks, i'm going to come back, one by one you see more and more financials start to improve and base and break kraut. goldman's the name. >> you mentioned the old leadership and in your presentation you said

overextended software companies. >> well, are they do for a fall? >> if we look at technology, you have software and services secular leadership, does well in an environment when you get concerned about the cyclical brack drop, the economy. when you look at semi-conductors in november. >> fresh highs. >> i was concernedabout them. when i think i was on the show last time. some of these names were wobbling and now they're resuming leadership so tech in general is still a driving its leadership. software, i think it's dominant leadership, names like activision and electronic arts all starting to move out of these big trading ranges. >> thank you. >> thank you. tim, what did you do today >> i didn't do much. i've been nibbleing back into emerging markets and i nibbled yesterday but thought maybe i nibbled too soon. a lot of the riskier markets out from the s&p are trying to break through the 50 day.

i thought it was incredibly constructed. commodities names and resources name we talked about that. i'm not worried about this weakness. inflation means they're going higher. >> i didn't do anything today. i'd love to say i bought a lot of stuff at the bottom. i was nowhere close to buying stuff on the bottom. i was concerned about this. happy to see the faang stocks do well. i wasn't dying to get in there and get longer today. >> it's very difficult right now for me to put long exposure on. i do like boeing. based on the fact that aluminum prices are going to ratchet up and it's going to impact their profitability. last year aluminum ran 30% but it doesn't have any visible effect. >> talking about chips now for a while. stocks are up from 41 to close. 54.5, 55, the tech stocks,

specifically some of these -- i can't speak today. i apologize. chip names continue to go higher. sorry folks. i lost my voice. i'm a mess. before we head to break that becky cook will be sitting down with the exxon ceo tomorrow that's on "squawk box" and that starts at 6:00 a.m. crypto carnage. bitcoin all tanking today after the scc issued a brand-new warning for the space. one of the traders says it could be the bet buying opportunity of the year, we'll tell you why. plus it's the moment that everyone on twitter has been waiting for, the ripple kroemt. sitting down with brian halley with a coin base listing and for all you haters was real, and spectacular. we'll bring it to you right after the break. you're watching "fast money." don't go anywhere. we'll be right back. right.

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welcome back. you know who's happy together, those two guys right there. jack dorsey and mark zuckerberg both smiling today. twitter soaring 4% while facebook was up 2%. which of these social climbers

is the better bet right now. it's almost like that game we used to play -- would you rather >> yes. feels so good. >> right now, facebook i've always been a long time bull on this story. i took a little off the table. it's a little concerning just based on the cleaning up their news feed for me. i think it could have an impact on profitability for me. twitter, i don't understand it. again, hedge funds love this name for some reason. i see it on the desk. i talk to people all day long. i just don't understand the fascination with this story right now. it's not going to get taken over. there's not a buyer out there. in media or in technology. it doesn't make any sents to me to be where tess. >> it hasn't made sense to a lot of people yet the stock is here. they're not growing their subscriber base and they're user being questioned every day. the stock isn't where it is because of a takeout the stock is where it is because they love the service. people know that they're going to get it right. if anything this is how news is

being disseminated. i love the name. i can't explain why the stock is making this move because the last quarter's numbers were excellent. they showed profitability but that's not enough to move the stock. >> you're just as long in facebook >> yeah. i'm bigger in google, but, yeah, facebook. i'm sort of with david. i can't say that i think there's a huge amount of upside here which wouldn't make me want to sell facebook and put it into twitter. >> not since july of last year. at a time when the nasdaq is ripped and you've seen the q's go to the moon, facebook's sideways. sideways since july. >> i remember having a conversation saying, if twitter gets this correct, their business, they'll hope nobody buys them out at $25 a share. we had that conversation. now here we are at $35.5 a share. not just last quarter, the last couple quarters p. it's never been about m.a.u.s itself. you can say it's expensive on

valuation, which is it is but i do think there is a motive and they finally started to figure it out. >> still ahead, bob's big day. the disney ceo taking the stage at the company's annual shareholder meeting tomorrow. what will he say about the fox deal we've got some clues. i'm melissa lee. you're watching "fast money." here's what else is coming occupy on "fast." announcer: the last time jim pitched a stock it rallied 26% in six months. plus -- b.k. ripple ceo brad garringhouse and that will send the twitter ntaue in therapy. the answer when "fast money" returns. offer special protection

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welcome back to "fast money." cryptocurrencies tanking today after a one-two punch from a major bitcoin exchange. >> reporter: bitcoin trading down nearly 10%, other cryptocurrencies like ethereum and light coin also under pressure as the scc takes aim at cryptocurrency exchanges appear to investors as scc regulated when they are not. it's seen as another attempt by regulators to crack down on initial coin offerings that use unregulated exchanges to raise funds and also it puts stronger focus on the exchanges themselves, like bit fin ex-and beinstance. bit nance denied it got hacked.

we are still investigating. all funds are safe. before trading digital assets, scc's division of enforcement and trading is recommending investors to do some digging. check to see if the platform you're using to trade tokens is registered. also, view finra's broker website. take note of how the exchange safeguards customer information. that of course is key, melissa. >> thank you. we couldn't survive the crypto carnage without our own crypto baller. brian kelly joins us from san francisco. didn't make it back because of this weather. what did you make of this all today? >> it's funny. to me that was really the big news here is what happened with that is all the kwauns that hook into this, they found that some of their positions were automatically executed. it was just a wave of selling that came in. so i would call this crypto splash crash and then on top of

it, you had the scc come out with these guidelines which in the long run i view as extremely bullish. they said, listen, these exchanges, if you're trading securities need to be registered just like anything else. they took the regular regulations that we have today and just applied them to this market. >> so you think it'll sort of make it safer for investors, make them feel safer and more willing to trade >> yeah, i think so. this is the natural progression and natural maturation of this market just because it's bitcoin or just because it's crypto doesn't mean that the rules don't apply to it. this is a global market. it's a global asset subject to local regulations. if you're in the u.s., you are subject to that local regulation. i think that will make it better for the ecosystem as a whole. >> you see crypto go down 10% across the board today. did you buy anything at what point do you see they're being value for you? >> i think -- if you look at --

i didn't buy anything today because i'm fully long. if i had some cash i probably would have bought bitcoin right here. there's probably value in the currencies, in terms of there's going to be less uncertainty about whether or not they are securities and so by that i mean bitcoin andlitecoin. some of the other occur rensys that may be subject to scc regulation might not do as well over the next three months or so. >> b.k., hi, it's karen. when you think about the universe of owners of bitcoin and all the cryptocurrencies how does that divide up between the people that don't want to have anything related to the government and we need a totally different currency versus the growing group that is, you know about what you need to have some allocation of your portfolio in that? >> it's shifting. there is still a big portion of the cryptocurrency community. our whales in this community that own a lot because they have

a philosophical belief that they should own money and it shouldn't be part of the government. however, as institutions come in and say, you know what this is an asset class, you are seeing that shift. i can just tell you from my experience the institutions that i'm seeing now are family offices, fund to funds. no pensions or anybody like that in yet but they're looking at it. that will slowly shift. i think percentage wise, you're probably less than 10% of institutional ownership in this space. >> we talk a lot about technicals on this shows and you're just talking about the fundamental rational while guys are in the space, but if you look at the chart on bitcoin it looks at technically it could might want to go lower. how much are guys following the technicals at least in the bitcoin as the headline for the whole asset class? >> technicals are ig. you're right. bitcoin leads this entire market. technicals are very big. the kids in this place call it t.a., technical analysis.

>> cutting edge. >> that's some slang for you. it's not fun. >> i was wondering what t.a. was. >> t.a. let's not go there. >> only a crypto baller would know t.a., right >> i should have a dictionary. >> have you guys bought more, by the way, here on the desk? >> no. >> no. >> why not >> b.k.'s managing my crypto portfolio. i trust. >> t.i.b.k. >> i own ethereum and a little bit baskets of currency. the regulators are going to do something here. ultimately this is validation. i'm not adding here. >> we'll see is you in a few minutes. >> i'll be back. he will be back because he's got the interview with the ceo of ripple that is set the crypto world on fire.

we'll hear what he has to say about the crypto crush and just how bad he thinks his company needs coin base. plus the annual shareholder meeting tomorrow. there is one thing every investor is waintoitg hear. we'll tell you what that is. much more "fast money" right after this. what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online.

welcome back to "fast money." a mouse, a fox and a major shareholder meeting tomorrow could have big implications for disney. let's get to julia boorstin in los angeles. >> reporter: when bob eye gert takes the stage happening in houston tomorrow morning he's likely to do a victory lap with "black panther" the real question investors will be thinking about is what kind of insight he'll give into disney's pending acquisition of fox. on the agenda for the meeting tomorrow is electing the board's ten directors including two newcomers. there are also two shareholder proposals that disney opposes and are unlikely to be approved. shareholder advisory firm is both support a proposal for an annual report disclosing disney's lobbying practices and activities. iss also supports the proposal

to make it easier for shareholders to nominate directors removing the 3% minimum ownership rule currently in place. iger usually opens the meeting on the health of the business. last year he revealed that shanghai disney already drew 800 million visitors which is more than expected. and whether he plans to back fox in making a higher offer for sky after just last week comcast the parent company, outbid fox's offer for european media giant sky. fans, of course, will also be listening for updates about favorite franchises. disney announced a froz"frozen" sequel. back over to you. >> thank you. tim, you're a shareholder, right? do you want the deal to go through, the fox deal? >> i think they need to do something. the market applauded disney's move.

they certainly are going for it here. stocks have done nothing in three years. rich greenfield made a great point a couple days ago, these guys couldn't be crushing the ball any better in terms of the stud kroe. the comps are getting ridiculous and the stocks doing nothing. this is a company, really, who has a very diversified model so they should be more resilient when you look at parks and when you look at what's going on in the consumer products division. it's a company i'm comfortable owning. >> karen >> not really comfortable owning it. rich made a very compelling case about -- his idea was they should just go all in on streaming, which i think that would be shocking. >> which he doesn't think they'll do. >> i think tim hit on it. we have the media business which obviously is so big, the valuation on that, i don't know where that is but i don't think it should be -- i don't know. i don't think they deserve a premium multiple overall to the

market because of what's happening in the media business. >> i agree. >> and what if they have to raise their bid? >> for sky they'll probably raise their bid for sky because they need sky for earnings perspective. doesn't help them from a growth standpoint but from an earnings and free cash standpoint they need hat. it goes into a bidding war. >> it comes down to valuation. disney deserves a premium valuation to its competitors. do they deserve as much as they're getting? disney's probably closer to 14. i think cbs is too cheap. disney's too expensive. if they can earn close to $7.77 next year, i happen to think the right multiple of that is 13 which gets you either side of whunds stocks. >> disney goes up against comcast. let's say comcast wins, what's your view of disney? >> disney does not have to do this deal. a lot of people have questioned

whether they should do this deal and even though the stock performed. do they need more content? do they need to compete by adding fox in andover-the-top business i don't think they do. one of the other things i think was brought up the other day, they don't seem ready to offer out all their media through this medium. get it all out there, they probably have a chance to succeed but the broader business model for disney is not one i think has to compete with fox and comcast. consumer products, theme parks, that's a big part of the nbc universal empire as well. disney is certainly recording enormous growth in those areas. >> would you rather? >> i like this game. did we play already or no? >> we did once. >> comcast or -- >> disney? >> i think comcast. disney's too expensive. given the choice between those two. >> yes, it's one or the other. >> i agree. comcast, no question. sticking with the media kings, netflix is falling a bit today after a huge run this

year. the options market betting on more pain ahead. let's get out to mike khouw who's also in san francisco to break it all down. >> this is where the action is. we did see well above average options activity in netflix and that's thoetable because this is a name that trades quite a lot already. almost quarter million contracts overall and host active option with a weekly three ten putts over 8,100 of those were trading for an average of 200. netflix will drop below by 310. remember that only last friday trading below 290 at one point. we made a bullish bet. we paired that today. we tweeted it basically rolling those 290 calls up to the 320s i think you can take some profits here. >> are you worried about netflix going into earnings? >> i'm not. i'm not concerned about this at all. they can put their foot on the accelerator. we heard about hastings and what

he said about the india opportunity for them. netflix is going to continue to win. >> 70% year-to-date. >> yeah. >> i'm reminding you. >> i know. toss another one over to guy. >> don't make it a hard one, would you rather >> i like this game. >> comcast or netflix? >> netflix long. >> netflix. >> and tim is right. the stock's -- stiefel just downgraded the stock. they report i think in the middle of april and i think the stock's going to continue to guide hire. >> mike, good to see you. mike khouw in san francisco. >> who is also a stud. for more options action check out the full show on friday 5:30 p.m. eastern time. coming up next, it is the interview that will break the internet and it hasn't even aired yet.

one of the hottest cryptocurrencies out there, ripple. b.k. asked him a very pointed question about coin base. stepping up to the plate, there is one under the radar tech stocks that is up 80% in the past year. it's about to take off. 'lhel tell us the name when "fast money" returns. it looki? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

welcome back to "fast money." time for instant replay where we take a look back on previous calls. tim stepped up to the plate to pitch anna dirka. >> this company now gets it. this is not the end. this is the beginning of a new approach to running free cash flow positive, lower capex, lower growth and a lot more conservative play for equity investors. i think you stay in this name. >> hopefully you took tim's advice to stay in this name because anadarko has rallied. what do you do now >> what they did then was something that i think other people are starting to get the message on is what exxon is selling off. they're playing for return of investors. giving capital back. playing to be profitable and free cash flow positive. best of both worlds. high exposure to the sector. >> you got another pitch for us.

>> i got another pitch. >> head on over to the platform. >> i'm going to talk to you about a company from russia but it's a company we all know. it's yndx. at a time when people are chasing events and search globally this is one of those very popular names. the google of russia. we get that whole story. their search business is growing 25% to 30% and you can imagine, they're fighting off google on their home turf and they're winning in other parts of the world. this is what's very exciting. driverless taxi. in the last couple weeks combined their businesses with uber in russia. they now have the largest driverless taxi in russia. it's a business that leads them into delivery of food and all these other auns layerry businesses that people are paying high premium for in other parts of the world. when it comes down to it, it's cheaper than its global peers. when i look forward at the chart. you want to see a stock that's

ultimately breaking out. it's a company that you have a dynamic here, if you think about the ecommerce plays and the global ways to play technology this is another one of these names. obviously a nice mood that went sideways. profitability is starting to grow. growing 25% to 35% which puts them at a multiple 28 times for just the core business, not even the taxi business. they might even ipo that in nasdaq. i think it's going higher. >> karen's got a question. >> so how much of this movement in the stock is you're going to have russia exposure and how much is the underlying business and how do you think about that? >> it's more sector specific, karen. russia's really outperformed. they're up 11% or 12%. this stock gets traded with a basket of peers that includes google and a lot of these global tech plays and i frankly, that's

why it's going higher. >> questions. >> quick question. >> thanks guy. >> hi, tim. love your show. one of the concerns i have or investors have had high debt to equity levels. they seem to be paying down debt, is that a concern for you? >> no. these guys are given a balance sheet that gives them the flexibility to do with uber. i think the balance sheet is not hamstringing this company. >> nice. >> there's only one thing left to do, vote. >> vote. are you buying tim's pitch on yan dex, karen >> i am. i am buying tim's pitch even though he was injured. did you see that elbow injury? i thought he made a compelling pitch. >> this is a very messy board but i would say i am a buyer of tim's call. valuation perspective, even though the stock is up 83% over a one-year period it is still a lot cheaper than its peers. that's why i stick with this one. >> i'm going to throw a little

cold water not because i don't like tim, i would rather buy the breakout and as tim would tell you this stock traded up to 45 at the end of 2014 and failed miserably. potentially about to do that again. i'd like to buy it on the breakout more than here. >> that hurts more than my elbow. >> two buys and one sell. does tim's pitch have you running out to buy the stock the stock is up more than 3% after hours since that pitch. log on to twitter right now. vote on our poll. we'll reveal the results at the end of the show. it is the interview that sent the crypto world on fire. the ceo of ripple, brad garlinghouse sits down way rare talk with our own brian kelly and you will not believe what he said about getting added to coin base's platform. it is real, it is spectacular, it is next. we promise. you're watching "fast money" life from owsny times square in new york city. we got much more right after this.

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welcome back to "fast money." yesterday we had our very special show where we spoke to some of the biggest names in the space. because of breaking news out of the white house we didn't get to our interview with brad garlinghouse and that sparked absolute outrage all over twitter or what we like to call

the ripple effect. luckily our own brian kelly was able to sit down with garlinghouse after the show and he asked him about ripple being wall street's favorite crypto here's what he had to say. >> early on, ripple, the company took the point of view how do we use xrp to solve institutional mixed case it's really been to solve a big problem around how payments flow across border for banks, for payment riders. we've been very fortunate by focusing on that segment and signing up over 100 customers now ranging from some of the largest banks in the world to small banks. wall street is responded because people recognize at the end of the day any digital asset is only as valuable as the problem its solving. if it's just speculative over the long-term it's not going to work out well. >> how have you got wall street executives comfortable because

you have them saying -- firms saying you can't buy bitcoin and they're saying bitcoin specifically, but it's still a digital currency how do you get them comfortable with that? >> i think it's incredibly important that the whole industry recognize that we have to work with the regulators, we have to work with the system. i've been fond of saying the block chain revolution is happening from within the system. it's not happening outside the system. there's some in the bitcoin community that advocate not just downed banks but downed governments. and so i think when we think about an xrp flow and solving that institutional money flow where we've announced pilots with western union and money gram, all of those are happening through a registered financial institution. every financial transaction is through a regulated inpoint. when regulators hear that and understand that, they're like, oh, you're not circumventing

regulations or trying to enable anonymous transactions and it's incredibly important for the world to understand, to the extent there's regulatory concerns on digital assets, not all assets are created the same and we should understand what the differences are. >> all right. so part of that is, you know, people have called ripple the more centralized currency, right, for various technical reasons but is thatsomething that got wall street more comfortable? the fact that you the company have more control over the currency than maybe a completely open source, something like bitcoin? >> i think ripple say centralized company investing on top of a decentralized technology called the xrp ledger. that part is decentralized but i think -- what's given us an advantage where we have this strategic asset. we have $60 billion worth of xrp and we can use that as an asset to invest in the xrp ecosystem. there's no part more interested in the success of the xrp ecosystem than ripple.

we want that to be massively successfully because we own a lot. it gives us an opportunity to invest in that and we've invested in venture funds, in hedge funds, in companies and we've also partnered with payment providers and market makers in order to make sure that xrp is the mote useful digital asset out there. >> okay. that brings up the question of, if you're partnering with some of the premier players in the space and you want xrp the currency to do well because you hold some, how important is partnering with somebody like coin base who is effectively now the king maker of coins. how important to get a listing there? >> there are obviously a hundred exchanges around the world coin base is one that has a lot of success. xrp is listed over 60 exchanges around the world today. the liquidity between fiat and xrp is very important to us. we want to make sure there's

good liquidity between fiat. today we have liquidity in u.s. dollar through exchanges like bit stamp and cracken and we want to continue to see that grow because we want to make sure that xrp is the most liquid. as it relates to coin base specifically, they'll have to decide what they'll have to do. we don't comment on status of those kinds of things. let's bring b.k. back in. he's in front of paerchl the golden gate bridge. >> people were paying attention. >> i know. >> that was b.k.'s little joke. >> garlinghouse is very diplomatic about whether or not he would be added to coin base. he said it's up to coin base. what do you think? >> i mean certainly ripple is probably one of those. ripple stellar are one of those. i don't have any special insight. but coin base is a strategic partner for most coins out there and ripple is a currency. i don't think and i'm not a lawyer but i don't think you can

argue that it's necessarily security at all so it would be a natural step for them to do that. i would say ripple or stellar would be my odds on favorite to be the next one to be put on coin base. the other thing you got to remember is coin base is being very thoughtful about what they're doing. they're trying to be the safest and simplest exchange. and so, they're going to be deliberate about it. they are going to make sure that everything that goes on there is a high quality asset and they've done their due diligence. >> we should actually note to that ripple had actually gone up in value on this notion that we were going to be speaking to garlinghouse on "fast money" on our crypto show yesterday because people thought that was a sure fire way -- coin base is facing a shareholder lawsuit surrounding the circumstances of the bch rise that bitcoin ahead of it being added to the platform. this is why we're really talking about this and coin base is being extra careful about how

they tell the world which coin they're going to list. see bring's got a question. >> question on ripple. ripple's coin is not correlated to transactions, right, where stellar is correlated to transactions where you have adoption driving the value of the coin. do you like at ripple and say that is concerning to you? wouldn't you prefer to own a coin like stellar to give you a true devallized platform >> well, i own both for two different reasons. they've kind of taken -- first of all, the stellar and ripple platform are very, very similar, developed by the same people, essentially. and they've since split and they're developing differently. what i would say about ripple, that has been a concern about ripple, that you don't necessarily need the ripple currency to operate the first product that they released which was essentially going after swift, interbank global payments. now, they have other products that they're announcing that you

actually do use the currency for and so that to me is the game changing piece for ripple because it does say, you know what if these products take off and they're very early stages, they're just trials but if they take off then the currency is going to be an integral part of it. >> right good to see you. >> good to see you all as well. >> enjoy the golden gate bridge. >> on the bay bridge. >> thank you. we should note by. are you out there buying tim's pitch? >> in the after-hour sessions, you know what the stocks doing is 3%. there's still time to vote in our twitter poll. weigh in. results right after this as well as the final trades. stay tuned. finally. hey ron! they're finally taking down that schwab billboard. oh, not so fast, carl.

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welcome back. you know what's huge in russia tony braxton's unbreak my heart, all over russia and maybe tim's too because he lost his pitch by a large margin. 70% said no, tim. that's a record. >> maybe i need to listen to it ties. >> some will argue that i wanted to lose for this final trade, tim. >> final trade. >> i'm going to pile on myself

and pick yandex for my final trade. >> dollar tree was down a lot. call wasn't great. don't jump in. wait. >> 32? >> buy the heck out of ethereum here. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. what can i say i called it. when everybody was freakin