apparently the u.s. fish and wildlife service is saying americans should hunt and cook the species. i don't know it's called a a nutrius. they say we should be eating them to help curb the population. i don't know if you boil or fry them? >> i'll stick to steak. charles: [laughter] it tastes like chicken what you talking about? taylor: i'm a vegetarian. i'm going to pass on this one, but i'd just go along and end up stomping those red butterfly winged things that come around because they told me to put them out. charles: that's, i never knew they would say we need you to fry these bad boys up. john, taylor, you look fantastic have a great weekend. liz, over to you. liz: if there's siraccha on it i'll eat anything. we'll handle that. have a good weekend charles

thank you so much. folks we are awaiting president trump's remarks from the white house where the world's crypto elite are right now, the crypto crew just med with the president and any meant we expect him to talk about his plans to make the u.s. the crypto capitol of the world. speaking of crypto capitols wyoming is on its way to launching the only stable token which is the first stablecoin issued by a u.s. public sector entity. the futures to crypto plans in the home of the old faithful geyser and we'll be talking about that but hang with us with one hour left of what a wild week of trade that could see even more gyrations because at any moment, we're expecting president trump to speak at the first-ever crypto summit. we are going to take you to the white house any minute, as soon as he begins speaking, but until then, you're looking at the markets in the green today, but for the week, let's show you. they have taken a lashing. the majors look to close out the worst week in six months.

we've got the dow jones industrials for the week down 2.5%. i'm looking at the nasdaq, which is getting crushed here down 3.6% for the week and the s&p 500 down 3.28 for the week. all three struck eling this week to keep up with president trump's constantly-shifting trade policy which he altered no fewer than three times over the past four days and there is some breaking news where he's adding a fourth possibility. for the moment it is not the president but fed chair jerome powell who is moving the markets pulling them out of an earlier hole. so etiquette hads show you at noon eastern, the dow which was down 403 points at the lows, started to make a run for the green just as fed chair powell began speaking at the u.s. monetary policy forum in new york city. you'll see the same pattern with the s&p as we scroll through that, nasdaq, russel. powell struck a calm, composed and i don't know, even sanguine tone about the economy saying it and the u.s. financial system are in

a good stable place so here is what wasn't stable. the 10-year yield spiked when he said the cost of being cautious about another rate cut was very low. it went from 4.25% to 4.313% and right now, it is at 4.319%. he even shrugged off slightly weaker-than-expected february jobs report out this morning which showed unemployment did tick up to 4.1% warmer than the 4% expected and a slight miss on job creation which came in at 15 1,000 versus the 160,000 estimate. now, when asked about president trump's on again off again tariff policy, here is what jay powell said. >> we're at a stage where we're still very uncertain about what will be tariffed, for how long, at what level. we're going to have to wait to see all of that but the likelihood is some of that will find its way, it'll hit the exporters, the importers,

retailers and to some extent the consumers and we'll see what that is, and in a simple case where we know it's a one-time thing. liz: yeah, so in essence, he was calm enough to say it's only a piece of what the fed takes into account. look at the vix. this morning, the fear index hit the highest since december 20 around 26, but dropped into the red which means things calmed down and right now, more complacency it is down about 3.5% to 20 let's call it 24 but look, make no mistake there is high anxiety across much of the market. big banks they have taken a beating this week. look at week-to-date financial names. morgan stanley down 8%. bank of america down 6%. goldman down 7.6%. tech has gotten clobbered for the week, tesla is down 7.5%. by the way tesla is on pace for its seventh straight weekly loss. meta even got hit down 5% and nvidia down nearly 7%. should investors though flip

the narrative, maybe flip the picture, see these as lower prices that are a buy signal or is it a little too unsafe to enter right now? let's get to the floor show joining me now two star traders market rebellion john nagarian and keith fitz-gerald. john, the president in the last two hours announced maybe he might signal another tariff coming when it comes to canadian lumber so how do you see an opportunity right now. is it too dangerous? >> that be an opportunity to buy warehouser which is a reit that's lumber based in the u.s. and as soon as that happens if it happens, and it will eventually. he will at least threaten it, liz, but i view all of these as opportunities, both when we see the pullback and when we see the bounce-up, so i like volatility. it's the life blood of a trader. liz: okay, but trader versus

investor or longer term investor and if you look at lumber prices, let this just be an explainer in a way, keith, to how the market has been dealing with these on again off again tariffs. i mean, this is the picture right now for intraday lumber, and you see it was down and then suddenly it spikes, if we are going to see some tariffs, so, give me a sense, keith, of how you're viewing at the macro level all of the changes this week and the markets reaction which has not been pretty. >> well i'd be happy to. what you're seeing is classic, really. the markets are the only store on earth where people fear a sale and it doesn't matter whether you're a trader and a short-term horizon or an investor with a long-term horizon focusing on quality, you can go buy the things that have big business cases, strong growth, strong management, and that's what we've been focused on the last few days is where can we find the best names at the deepest discounts and boy there's deep discounts. liz: yeah, deep discounts, but

did they miss it? suddenly the markets are coming back. i'm not so sure, john, because as you look at minute to minute forget day-to-day, these headlines continue to yank the markets in different directions. >> yeah and i would say take president trump at his word, the same way that i'd take jay powell at his. i think both are very transparent. trump has said, he's going to do these tariffs. he is going to threaten them and then do them and sometimes, he will push them out further into the future, to give him a little more negotiating room. liz: what do you avoid then if that's the truth? >> you avoid stocks that are like the fomo stocks, the fear of missing out. a few weeks ago that was palantir. a few weeks ago it was super microcomputers. liz: i can hear keith fitz-gerald. >> but those are also stocks coming by on these dips. i mean it went from 125-130, palantir did all the way down to $79. liz: its gone back up right at

$84, keith. did you buy at the low here? >> uh-huh, we sold before it started to go down. we took a little bit off the table and we're busy using that money to buyback into it so yeah, you bet we did. liz: okay -- >> smart move. liz: what about tesla because it's one that you have been pounding the table on for several years, and you've been buying on dips in the past. is that the case now because it doesn't look good. i mean, they are seeing some really negative numbers when it comes to scaling back the purchases in europe. who knows how it's going to look when they come out with their numbers here in the united states. >> i think that's a fair and very sharp question and if i view tesla as a car company then fine i'd be very concerned but i don't. i think the robotics and the fsd, the annuity that comes with charging any of those things are potentially and this is a big statement, liz, potentially worth more in a few years than all of tesla is today. we haven't even begun to scratch the surface of the stuff he's involved in so i'm willing to take the heat and take

the downturn, because i think the bigger picture is still a lot brighter. liz: well, yeah, and maybe not so though for the entire auto sector, john. if you are looking at these tariffs, which have been staved off until what is it april 2nd? >> yes. liz: my timeline is just -- >> he didn't want to do it on april 1. so yeah he has pushed it out for , i was just up in toronto yesterday and today, just flew in from there. they are worried up there because there's probably 50,000 jobs tied to the auto industry up in canada, so both sides can talk tough, liz, but when you start looking at the real damage done to the economy, i think it'll bring people to the table to negotiate, on both sides. i'm not just saying trump will just bully this. i'm saying trudeau and the leader of mexico will also have to come to the middle and the usmca which replaced nafta under trump's first term.

that is going to be renegotiated the 26th, 2026 so basically, all of what's happening now is a precursor to that. liz: keith, i do want to just quickly hit tech which as we said has gotten clobbered this week and maybe even part of last week too. specifically, we've got earnings from marvel. we got earnings from hpe and hpe today. that is just not a pretty picture, certainly. these are the companies that helped put in the data centers equipment. we've got the ceo coming up, so i'm just interested to know what you look at with the entire tech picture, specifically as it pertains to a.i. and the picks and shovels around a.i. >> well, thank you for asking i lack really at whose got the quality names. i'm typically going after the first one or two positions in any industry in any eggment i'm going to go needles in haystacks where can i get the best value right now. to me it's going to be those top tier players, because a.i. isn't

going away. a.i. isn't suddenly going to vanish because we have tariffs or not. a.i. isn't going to vanish because everybody gets freaked out or scared. if anything we're going to continue to accelerate. it's the greatest recorded investment theme in human history. so if you have that assumption and you can stomach it, which is a different question, i would encourage people to stick with it. liz: both these guys for our viewers have very strong stomachs. they've got the six pack abs, the whole thing because traders have to. guys it's great to see you and the ceo of hpe, is coming up later in the show. in the meantime we are still waiting on president trump to make remarks from that first-ever white house house asn as the president begins his

remarks. the cowboy state not waiting around to saddle up the cryptoverse horse. wyoming plans to launch the first ever cryptocurrency created by a state government. wyoming governor mark gordon is here to tell us why he thinks crypto investors will pony up. yeah, this i'm interested to know about. it's a stablecoin for the state of wyoming. yeah, we've got a lot of questions it's a fox business exclusive. look at the dow up 263 points. we are coming right back.

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liz: fox business alert. i'm just checking bitcoin right now. we do have bitcoin falling, it is down about 2.5 perspective per to 87, 843 as we await president trump's remarks from

the white house, where the world's crypto leader huddling. the crypto crew met with the president and any moment we expect him to talk about the framework for a national crypto reserve. well, even before president trump talked about that wyoming began forging ahead with the creation of its own stable token. yes the state known for its geysers sprouting up his idea which be the first fiat-backed stablecoin issued by a us public sector entity. the idea has not come without backlash. some critics say the procurement process lacked transparency and was heavily biased in favor of certain blockchain players, but wyoming's crypto creation has the full backing of the states governor republican mark gordon who joins me now in a fox business exclusive. well, this is interesting, governor, and you've been working on it for about 18 months. tell me about wyst. this stablecoin. how it would work and explain it to people who don't quite have

the ability to wrap their minds around what you're go to offer. >> well, sure, liz. people that know stable tokens need to understand how they're backed. ours is fully reserved backed by treasuries and the dollar. the value will stay the same. we're going to make sure that it provides the stability to however settlements are going to be handled and we've built an entire framework really around that. i used to serve on the kansas city federal reserve bank as a class b director. i got there shortly after aig collapsed, and at that point, it seemed to me that the federal reserve had taken a new direction and we needed to have something that was predictable, stable, between different administration, different frameworks, and we really have taken a very long look at this , and for those that would say this isn't been in the public

eye, we have been absolutely transparent, everything is available online. all of our offerings, all of our rfp's have been fully in front of the public and we've had a lot of engagement on that. liz: okay so you say it'll be backed by treasuries and the dollar? so this coin be used to what? settle dollar denominated global transactions? my question is why do you, or how will you convince people, not just people who live in wyoming, but others who are interested in buying stablecoins to purchase yours versus some of the more established ones. i mean you've got the usdt, usdc, there are a lot of these things out there, with much bigger market caps. >> well absolutely. ours is completely open to the view of the public and we'll have the reserves online, people will understand what that is. the fact that our state is a

domestic state really will provide the kind of framework that is important and the domestic space to make sure that we are a good regulatory bet and there isn't going to be anything that goes outside the lines, so i think we have looked at it not to sort of take the market by storm, but by predictability and dependability and transparency to gain a certain amount of acceptance. liz: wyoming is one of the least if not the least populated state of about 600,000 people that's why it's so fabulous and people want to go there to just get peace and quiet from the drama that goes on but your biggest industries and your biggest money makers are oil, mining, agriculture. how do you see farmers and ranchers and the oil industry getting in on this , if at all? have they shown some interest? >> well, i think there's just a native value to having

somethings efficient as digital assets are, so for in terms of settlements and so on and so forth it makes it a lot easier. our banks are, we have a member of our banking sector that is on our oversight committee, and so i think this will just make business work faster. it's an argument that i've had with former members of the federal reserve and argument with the fdic that the united states has been lagging in this ability to have really an electronic form of settlement that is stable and understandable and doesn't sort of fade or gain with the change of administration, so wyoming we're very small, as you mentioned, but we were the leader. we were the first state to come up with the llc. we were the first state to come up with what we call our speedy bank which is a digital asset form of danging. we're the first to come up with

dow, digital autonomous organizations. we have really led in innovation and some of our competitors are all watching to see if wyoming will falter in this. i can tell you, we feel very confident of the fact we're doing this in the open, that we have a lot of national and international support watching us, that this will allow us to move forward in a way that's going to make sense for the country and make sense for wyoming and it's just going to really kind of catch us up with what's happening elsewhere in the world but we can do it in a way that american consumers and others can say, i think america is the safest place to do business. liz: well, that seems to be more and more an opportunity that some people, whether it is state governors like you or business people would like to see has been a little bit of upheaval over the past couple of weeks with all of the tariff changes so doing business in the united states is still a bit of a question mark for those outside it but we'll be watching this.

governor, thank you very much and i'm sure florida is watching too, because certainly miami. miami has been big on crypto, and i just think it's interesting that you guys are forging ahead. good for you. >> well, thank you. thanks very much. liz: great to have you. elon musk's spacex star ship exploding yesterday after lift off but another mishap in the cosmos has investors in one company scrambling away from the dark side of the moon. we have the details straight ahead and fashion influencer caroline baudino put together incredibly hip outfits, all cobbled together from amazon into a massive money-making career. caroline started to share her flare for mixing high end designer pieces with affordable items from amazon on her random social media account, shop with caroline. people loved her breezy, totally authentic way of communicating. how to pull off frugal fashion.

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liz: fox business alert. we are still awaiting the president's remarks on the framework for the national crypto reserve. in the meantime tiktok may be getting much closer to some type of deal that could save it from being banned next month. charlie gasparino is breaking news, what is it? charlie: and people close to the trump administration are telling me and these are people on wall street who have been talking with the trumpers about this deal. it's a long, simmering, we could go back to 2020 when the government then the first trump administration wanted tiktok to be out of chinese hands, into u.s. hands in some ways, to protect data. well, we understand now is that they are making progress on a deal to move tiktok into semi, at least semi-u.s. hands and here is how we think it's going

to go. it's a licensing agreement between the apps chinese-based owners, bytedance and a u.s. tech firm and you say what tech firm might get it? so if you think what's the one tech firm that donald trump really loves? can you think of that firm? liz: oracle. charlie: who runs oracle? liz: larry ellison. charlie: it's not a done deal, but from what i understand, larry ellison was the co-founder and he doesn't run the day-to-day operations but he is a gazillionaire, or is that right? $150 billion or whatever. he is seeing, so oracle is having the inside track into this. again not a done deal. could take a while. i hear "the talks" are progressing pretty well, so when i asked my source who deals directly with the white house, on economic matters, give me a timing. he said it could be month, it

could be six months but it's moving forward right now. again, it's the situation as they say is fluid. getting back to crypto, i didn't realize is trump actually going to speak? liz: yeah, he is expected to speak imminently. charlie: the meeting itself is closed off to reporters. i will say this. i think we broke the story yesterday, already on this. i mean i think this is anti-climatic. we broke the story yesterday when we said that the crypto reserve could not, they could not fund it, the strategic reserve. we're not getting into whether it's good to have a strategic reserve. there's a lot of arguments on that but that the strategic reserve, the white house was moving away because, canceling the notion that there was going to be bitcoin, crypto purchases by the strategic reserve, by the government, because you need -- liz: taxpayers. charlie: you need congressional approval. that was out. david sax last night as we first reported was coming out with

something. he did. he confirmed our report. i think if we're going to look at other potential, you know, news things out of here it's more stuff we reported. maybe something about the banking of crypto, ending operation choke point 2.0 was the debanking of crypto people, because they were controversial, and that fell outside of fed boundaries on who you should bank. that might come out. liz: what about favorable tax treatment? charlie: that's another one. i kept hearing that, but we'll see. we had some reporting from fox that who were part of that pool that it's unlikely but trump has talked about it in the past. favorable tax treatment, no capital gains taxes on sales of u.s. digital assets. so we'll see when it comes out. again, i think we broke this thing. i could be wrong. i'll eat my hat. liz: i didn't bring my barbecue sauce for your dumb hat. all right, charlie thank you very much. fox business alert. folks walgreens we need to look

at that is officially ending its run as a nearly 100-year-old publicly traded company. shares of the pharmacy store chain are jumping 7.5% after it cut a $10 billion with private equity firm sycamore partners that take the company private. this comes after walgreens came under pressure by the covid pandemic consumer spending, rising healthcare competition. walgreens and sycamore are expected to close the private deal in the fourth quarter of this year-ending its public run which started all the way back in 1927. stock may be up today but over the past 25 years it has suffered down about 53%. houston? we have a problem. shares of intuitive machines are crashing 22% after the space exploration companies moonlander mission tipped into the abyss. its spacecraft named athena touched own on

the moon thursday in a crater near the lunar south pole and tipped over on its side. the spacecraft's battery quickly drained because its solar panels were facing away from the sun bringing the mission to an abrupt end. meanwhile, investors are saying you know what? we'll get off intuitive machines and go into gap because gap shares are going to the moon up 19%. the retailer posted a top and bottom line beat during the fourth quarter. report thanks to strong holiday season sales. the parent company behind old navy, banana republic and its namesake saw comparable sales grow 3% year-over-year, but for the full year, the retailers expecting the sales to be "flat-to-up" slightly due to the pending trump tariffs. all right demand for nvidia's new chips, the blackwells, massive but if you can't get your hands-on the black well chips, one tech company might be your saving grace. it's teaming up with the a.i.

darling and just shipped its first grace blackwell system. hewlett packard enterprise ceo antonio nari joins us next to tell us how the top tech partnership is playing out, and why the stock is falling dramatically today. the "clayman countdown" is coming right back. that's why at fisher investments, we keep a disciplined approach with your portfolio, helping you through the market's ups and downs. (husband) what about communication? (fisher investments) we check in regularly to keep you informed. (wife) which means you'll help us stay on track? (fisher investments) yes. as a fiduciary, we always put your interests first. because we do better when you do better. at fisher investments, we're clearly different. 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.

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voya provides tools that help you make the right investment and benefit choices so you can reach today's financial goals. that one! and look forward, to a more confident future. that is one dynamic duo. voya, well planned, well invested, well protected. liz: fox business alert. data centers and the makers of the equipment that go into them are having a very rough week. for the week, super microcomputer down 11.5%. dell is even worse down 15.6% and vertiv holdings down 8% and the s&p top laggard is also part of the sector. hewlett packard enterprises is falling 12.25% actually off the lows of the session. the company did report financial results for the fiscal first quarter and they look pretty good. the data storage and network company reported earnings of $0.49 per share in line with estimates revenue beat at

7.85 billion but investors began fleeing the stock when hpe issued weaker-than-expected guidance for the current quarter as well as a plan to cut roughly 2,500 jobs. well, earnings and forward outlook may have spooked some investors, hpe could actually get a huge boost in a.i. revenue from its new software, which specifically help companies transition from nvidia's hopper system, that is the older chip, to the new grace blackwell system. joining us now, hewlett packard enterprise ceo antonio nari. we actually went through your earnings call and we did note that the word "demand" popped up around 15 different times. you spoke about how strong demand was. well if that is the case, why the outlook that is certainly not what investors hoped for? >> well, good afternoon, liz, and thank you again for having me with you and the show. you know, again, you said it really well. we had a solid quarter in terms

of the numbers but i will say, we could have executed better. the reason why the stock is down today is because of two things. one is the operating margin of the server business was down more than anticipated driven by three issues. one was the aggressive pricing and discount we've seen in the market. number two was on our side, a little bit of higher costs than anticipated or costs in the inventory and the transition we see from gpu's and number three was obviously, the fact that we surprised the street from not understanding some of the challenges with the working capital and the inventory. but that said much of that is in our control. we have put the measures in place and we feel very confident in that but the demand was super-strong and the demand is the back of amazing innovation. it was up double-digits in every line of business, networking,

servers, tr triple digits in storage as well as double-digit 46% in cloud subscription, so we guided the street based on what we saw in q1 but also the fact that the tariffs is going to have a near-term impact until we find all of the mitigation strategies, and therefore we passed that so there is a flag pole to investors to look forward to but ultimately, we think we have put the right things in place and return to our normal profits by the end of the year. liz: you have really forged ahead with helping the customers that you do have transition from the older hopper systems to the blackwell and tell me. are all of your systems for the blackwell spoken for , or are you able to offer them to people & companies that are really looking for one or two or listen, some of these orders are in the thousands. >> yeah. so, this is why you need to segment the market in a.i. in three unique segments. there is what i call the builders where we're familiar with them, very

concentrated, maybe 10 companies that build these large language models and the service providers including their hyperscalers. they lead with time to market with the latest technologies and that's why this transition from hopper to blackwell is going much faster, because they need much more competitional capacity and lower cost per-core the chips level, and in q1 we doubled the bookings from the previous quarter, and 70% of that was block well. on the other spectrum, you have what i call the enterprise a.i. the companies that deploy a.i. for benefits and productivity and simplification of profits and the processes and automation and in that business, we saw 40% growth year-over-year in our orders, which is a fantastic news because that means companies are moving from proof of concept to deployment and in the middle you have the sovereign which is like the united states and many others where we are deploying large a.i. clouds or even super

computing systems and hp is a market-leading market. in fact, we have deployed the largest supercomputers ever built to the department of energy and those are now all live. all these systems, liz, are built in the united states of america. liz: well, that is certainly a plus, when especially you've got the president pushing tariffs on anything that is coming into the united states and antonio, the president is about to speak any minute now, actually, it's happening right now if we could just hold out for a second, antonio. breaking news president trump making comments in the state dining room right now, following the very first white house digital assets summit. as he walks into the room, i am checking, bitcoin's price at this moment just to make sure because it could start moving around, it's down 3% to 87, 316. >> [applause] liz: and you see howard lutnick, the commerce secretary. let us listen into the president, david sacks, the crypto guy is there too.

>> thank you very much, everyone. great honor to have you. i know you've all been working very hard and very successfully. it's a wonderful place, the white house. i want to begin, is johnny here from world cup? i want to thank you for this election and they just had a presentation in the oval office and i thought this was such a beautiful, this is the trophy. this is the big deal. the world cup is the biggest sporting event and johnny infantino is my friend for a long time and during my first term, we worked out a deal to get the world cup, and then because of lots of interesting things that happened, i end up being president, i was always disappoint. i wasn't going to make it. i was going to serve eight straight and we did it the hard way but maybe the more important way, so i will be with you as president, johnny, so maybe you could just say a few words

and show how beautiful the world cup trophy is. thank you. >> yeah, sure, please. >> it's a great key. you go ahead. i trust you. >> so this is the new trophy of the new competitions for the fifa world cup. it is the best players and for the first time in history this competition is based in the united states, and opening day on the 14th of june in miami, and ending on the 13th of july and the trophy is special, because there's a key, and because as you can see , if i manage to do this , there it is.

so this is the trophy and it's a trophy which represents, this is why i think that it's interesting to show this trophy exactly in this form, because it represents the past but it's also projected to the future. there's no other sports trophy like that. it has a great history of soccer or football as we call it, and the stadium, it's a beautiful stadium in the united states of america where this competition will take place, so at the same time, past, present, and projected to the future and if i may, president, say two words and then i'll let you work. i'd like to congratulate the president and the administration for the world

cup and the great work done but also for this initiative that you are speaking about here. if i may add something, in this respect. i'm not an expert at all, but fifa, as you know, is a brand which is globally known, a very strong brand. the soccer economy in the world is around 270 billion a year and 70% of that, mr. president, is in europe, so imagine the potential that there is around the world only in soccer if we develop it and so fifa is very very interesting under the presidency to develop a fifa coin to do it from here, from america, and to conquer the 5 billion soccer fans in the world. so if there's anyone here who is interested to team up with fifa,

here we are together with the united states of america and we will conquer the world of soccer with the fifa coin. >> thank you, that coin -- >> [applause] >> that coin may be worth more than fifa in the end. it could be quite a coin, actually. anyway, thank you, johnny, great job. i just thought you should see this trophy because it's the biggest sporting event in the world, and we have it here, and we appreciate being selected. thank you very much. you do a fantastic job and welcome to the first-ever white house digital assets summit. i know that many of you have been fighting for years for this , and it's an honor to be with you at the white house. i want to thank the white house a.i. and crypto czar david sacks, treasury secretary, this is david, right here, in

case you don't know, you know david, and a man whose doing a great job as secretary of treasury, scott bessent, whose right here. scott, thank you very much. commerce secretary howard lutnick, wherever you may be, howard. hi, howard. >> how are you? >> he's doing some interesting work right now with all that's going on. he's right in the middle of it doing a great job. thank you. sba administrator kelly loffler, and hi, kel, sec commissioner hester pierce, thank you, hester, acting cftc chairman caroline fam, house majority whip tom emmer, hello, tom. >> hello. >> representative brian style. thank you. brian, thank you very much. digital assets council

director beau hines, and many other distinguished guests. we have a lot of distinguished people around the table, some of whom will be speaking. i want to thank marco rubio also whose right over there, and we have tremendous people, very interested in this subject and last year, i promised to make america the bitcoin superpower of the world, and the crypto capitol of the planet, and we're taking historic action to deliver on that promise, as you know, around the table. yesterday, i signed an executive order officially creating our strategic bitcoin reserve and this will be a virtual fort knox digital goal to be housed within the united states treasury. it's a big thing. [applause] >> the federal government is already among the largest holders of bitcoin, as you know.

really one of the largest holders in the world with as many as 200,000 bitcoin obtained via civil law and various other forms of law and including enforcement actions. these existing holdings will form the foundation of the new reserve. unfortunately, in recent years, the u.s. government has foolishly sold tens of thousands of additional bitcoin that were worth billions and billions of dollars had they not sold them, but they did sell them. mostly during the biden administration and not a good thing to have done. from this day on america will follow the rule that every bitcoin knows very well. never sell your bitcoin. that's a little phrase that they have. i don't know if it's right or not. who the hell knows, right? >> [applause] >> who knows. who knows, but so far, its been right. let's keep it that way.

the treasury and commerce departments will also explore new pathways to accumulate additional bitcoin holdings for the reserve provided its done at no cost to the taxpayers. we don't want any cost to the taxpayers. in addition, my order directs federal agencies to conducly hey the u.s. government and determine how they can be transferred easily to the treasury. non-bitcoin digital assets will be held in a new u.s. digital asset stockpile, where they will be managed properly. my administration also is working to end the federal bureaucracy's war on crypto going on pretty wildly during biden until the election came about, about five months before the election, he became a big fan because he heard how many people were in favor of it and how many people love it and respect it, but i guess it didn't work out too

well for him. people understood what was going on, and pave the way for a groundbreaking innovations and institutional finance. under the bitcoin administration, regulators strongarm banks, they really did. they strongarmed banks into closing the accounts of crypto businesses and entrepreneurs effectively blocking some money transfers to and from exchanges and they weaponized government against the entire industry but i know that feeling also. maybe better than you do. >> [laughter] >> all of that will soon be over, and we are ending operation chokepoint 2.0. >> [applause] >> some people really suffered. it was ridiculous what they were doing but in the end they came around but came around for the wrong reasons, only because they wanted votes and they saw that tens of millions

of people were against them because of what they were doing. i also want to express my strong support for the efforts of lawmakers in congress as their work on bills to provide regulatory certainty for dollar-backed stablecoins and the digital assets market. they are working very hard on that. this is a tremendous opportunity for economic growth and innovation and our financial sector and we'll really go a long way. i think, we feel like pioneers in a way. tremendous method of growth, and things are very much tied and we want to keep it that way. the u.s. dollar, long into the future. we're going to keep it that way. liz: as charlie gasparino predicted so far we have not really seen anything new coming out yet of this but the president reiterating that he will make the united states the crypto capitol of the world. he said, no taxpayer money will

be used to perhaps acquire more additional bitcoin, which he said he's now put treasury and commerce on the case to look at alternative pathways on how to get more of these bitcoin. so far at least i haven't heard, i don't know if you guys have, but xrp and ether, we have not heard. david sacks is speaking let us bring in chief market strategist troy gu theyeski. what do you think has come out of this that changes anything? right now bitcoin is still down about two and one-third percent. >> i wouldn't say anything in this particular event today but clearly, with the government backing it gives more confidence that that 90 million of new buying power that needs to come in every day to keep bitcoin at its current price an eventually drive it higher is much more likely. you know, crypto is so fascinating because it's an alternative investment with

tremendous volatility and upside. it's part of the broader outreach that investors have embraced, embracing things like crypto, private credit, middle market private equity, ways to diversify, for massive cash holdings, fixed income which is tragic for quite some time and we all know, liz, up until its recent correction equities got let us pivot to the markets. it has been the with flash week and we've been calling it on "the claman countdown". a lot of losses most of the week indicate that were going to close down negative for the week, the dow looks to be down 2%, the s&p down 3%, same with the nasdaq and the small-cap and mid-cap down 4% what do you think is in the psychology of the investor a lot of things have gotten less expensive, hpe we were talking to the ceo of seven people are not going into buy it at this price. >> i think it's really simple we

got up to 23 times forward earnings in u.s. equities everyone was pulled up on tax reform for the regulatory rollbacks that were coming in and expected merger way. what happened the trump administration has been clear the president said the treasury secretary said he today they're willing to take the sick engine significant amount to rebalance towards domestic production in domestic investment young clearly when you have that much uncertainty injected you should have a lower evaluation and you haven't gotten to the point where you brought in a lot of buyers. normally you get to the 200 day moving average and it's almost close your eyes and by but because of the transformational change we think it will take several weeks for clarity. >> interestingly we have the market for the moment in the

green a lot of that has to do with what jay powell, the federal reserve chair said we have 30 second-tier he was clear. it does not look like they're going to make move on interest rates at the next meeting and you have to tell me what do you think is going to happen with rates, the tenure moving all over the place and spiking today. >> the ten year spin. >> is too much uncertainty tariff should not be long-term inflationary but there's certainly not going to help the feds because in the short term. if you are looking for a fed you're welcome to get it if you're looking for presidential you're probably not going to get it either. >> gotta run, there's the bell, we are headed to the a.i. conference human x next week. working out big interviews.