we discuss it with cio matt hogan. and free beer, transportation, gift cards -- they are just some of the incentives being offered by cities and states to get more people vaccinated. will the perks work? we discussed. first, u.s. stocks tumbling the most since february after data showed inflation creeping upward. kriti gupta has more on that and tech earnings that continue to rollout. kriti: let's start big picture -- selling across the board really accelerating after cpi data stoking inflation fears across the market. the s&p 500 all the way to semiconductors really taking hits. semiconductors in particular seeing extra pressure. remember, they are already in pressure territory, and that moderna moderna-- emily: we are learning how the administration charged with protecting the nation's pipeline has or has not been working. it has not imposed any protections since the september 11 terror attacks, despite dire warning's from the intelligence community about vulnerability to hackers. instead, they have relied on volunta

let's bring in bitwise asset management cio matt hogan. what's turning this market around right now and your etf as well? >> oh, great question, liz thanks for having me on. i think what we saw last night and early this morning was a forced deleveraging, by retail investors who had gotten in over their hugh. what we're seeing is institutions starting to come into the market and scoop up bargains in the space. you can see that if you look at the on-chain data. you're seeing exchanges that had a lot of retail activity booming this morning and now, some of that is moving over into institutional exchanges so that's what we're seeing and i think it says good things for the market. liz: tell me, because we had a five-alarm fire in the entire space this morning on this china news. tell me what your world was like when you woke up and you saw what was happening. >> it was absolutely busy, lots of questions, but the thing about the crypto market is that we've seen this before, right? bitcoin has gone through seven 70% drawdowns since 2010. this is

look, susan, i want to bring in matt hogan who has a new crypto etf. he joins us this morning. doesn't doge coin give the whole crypto game just a bad name? >> it does a little bit, stuart. i mean, look the reality what crypto does it takes money out of the physical world and moves it into the internet world and you great things from that, more efficiency, more speed, lower innovation, more inclusion and you get bad things that come along with the internet, that includes aspect of celebrity culture, memes and jokes. the problem for doge coin there's nothing about the celebrity endorsement that is overcomes the fundamentals of it as a block chain technology and as you dig in the surface, the fundamentals aren't great. does it cast a bad light over crypto, to a degree, yes. but in the end and the overwhelming advantages of real well-developed crypto currencies like bitcoin will shine through. stuart: if i invest many your etf, i'm not investing in cryptos themselves, i'm investing in what i would call the crypto infrastructure? >> that's exactly right, stuart. yeah, our new etf,

hogan win multiple terms in maryland, charli baker win multiple terms. but the difference here is youngkin has ties charlie baker never had. >> and matt, let me play a little mash here of youngkin, a little bit of the ads. no doubt, it was a very small primary electorate he was appealing to, but take a look at this mash. >> handful of california mega corporations are deciding who can say what. promoting positions that they agree with and canceling conservative opinions and religious believes. the major league baseball and some corporations forget that americans and virginians still value common sense. as governor, i'll institute reform, like bringing back voter i.d. for all of our elections. and anything that teaches division is not a hymn, and therefore we will not teach critical race theory in school. we will not. >> matt, if you look at the recipe of when republicans won the governorship in virginia, it's never been by running on those issues. it was the car tax, get rid of it. bob mcdonald running sort of more about roads and bridges than it was about -- and jobs, than it was about social issues. youngkin has a background that could make him a very via