what gary gensler wants to do, all retail order flows get auctioned by new york stock exchange, nasdaqmakers like srrtu an sit is a dale. you go with that routed, new york stock exchange has issues with the auction process that auction process in this case cost a lot of money. they don't have the software to pull this off. so you're seeing essentially the glitch being used to thwart gary gensler's plan for redo of the entire stock market structure. so again, we are going to debate this for a while. it's a brewing story. we don't have exact numbers on how much money was actually lost by these brokers and their clients. you know, numbers i keep hearing are tens of millions of dollars. it is a big undercovered story i think. i don't understand why more people are not covering this. liz: they don't want to lose friends. i mean other business networkers coned on is ensconced. >> that is frightening. >> do you want your brows waxed? she is in the green room. >> do i need it? here is the thing, i don't take makeup, i don't dye my hair. i don't do botox. know what that means? know what that me

so exactly the words that gary. genslers to enforcing the law, applying the law, and these two guys got caught up many -- in peddling unregistered securities for a number of years, and the sec is finally coming after them. charles: i think by brag -- dragging his feet, you have more and more folks that become victims of all of this stuff. and yet it's so interesting because the moment the sam bankman-fried thing exploded on the public scene to all of the things that have happened since then, has it actually been a cathartic kind of hinge for the industry? was it something that had to happen? it might if seem negative, but to ultimately give bitcoin and others maybe more credibility? >> well, bitcoin really is perfect money, and that was clear on january 3rd of 2009, and since then we've had 20,000 attempts to recreate bitcoin and make bitcoin better, and they've all failed because you can't improve on perfection. and the sec has said quite clearly that bitcoin is something that they consider to be a synthetic digital commod

and again if the sec wins expect that regulatory axe by gary gensler and company at the sec to be hotready said, everything but bitcoin is a security. get your rear ends in here and register. after the ftx implosion, the question why didn't ftx to register beforehand? liz: they weren't based here. >> no, ftt, people were trading it here. liz: they were but based elsewhere. >> or gave a lot of money to joe biden. liz: gave to republicans in shadow money. >> he gave directly to joe biden. changing -- liz: not just coinbase but the dow jones industrials, we just touched the 200 handle. right now we're up 192, charging higher. the nasdaq up three days in a row. it is about to close at the highest level since september 15th. speaking of nasdaq, what about a nasdaq stock meta, which has been brutalized over the past year. nasdaq's instagram, i'm sorry, meta's instagram is removing the shopping button at the bottom of the homepage. this could be good news for users to have one less distraction on the home feed. today's "countdown" closer says the tech company is one to watch in the new year,

if we w ask these questions and maybe you might want to answer itt ths this way. >> they didn't gary gensleroldman sachs beforei' he joined the s.e.c.? i mean, it sounds like a revolving door in the biden administration between wall street and his administration. >> all right. i want to i want to switchs. topics here real quick. witctomorrow, we expect footage to be released in the attack of the paul pelosi case. a judge in california has ordered the release of the video of the attack on the husband of the former speaker of the house, nancyir pelosi, inside their san francisco home. fr but why such a delay?ago. this happened a while ago. this is been a real fight g to get these this body camera footage out the door. >> yeah, i mean, this is horrific. what happene d to speaker pelosir husb and her husband.an >> and it's you know, it's awful. what's, it's happened to him. >> but if if it is routine forhe these body videos to come out am to the american people, if it's routine to produce them ina req response to media request, you have to ask k, why are they delaying it here? why is why are the

if all these coins are out there and should be registered at the top of regulation gary gensler calledthe ecosystem of crypto including these exchanges. you can't trade on exchange, why you need and exchange. if bitcoin is the only thing that can trade on the exchange, what is coin base's overall value? it is a public company. that's what everybody is grappling with. this is interesting and cataclysmic time for crypto. you don't see it too much here but you do see it in the rest of the industry. if the sec prevails, and by the way, coin base ceo has been blaming the slowdown on the implosion of ftx and sam bankman-fried, that is another factor but you do see the sec prevailing. these companies, valuation of the exchanges themselves because the coins won't be able to trade on them in the us. you could say they are all valued at these levels, coin base is down 80% from its ipo price. neil: thank you very much, charlie gasparino. help is on the way to the border but they need a lot of people to help them out with all the people trying to cross that border. someone has ideas after this. i

investment banking revenues, just catastrophic across the street guesss what one of the reasons is gary gensler basically slammed the brakes, on the so-called blank check companies and spaks, doing deals into last year he basically shut down a good portion of the investment banking industries' republic i am sort of surprised no one has been more criminal of that more cd wall street will find a way to do deals, deal interest biking up i gather people kind of getting ready for what they hope is a surge in activity the next couple quarters, but this is -- you know a biden administration, is doing just what obama did issuing all kinds of rules regulation damping down growth in industries certainly including investment banking. maria: great point you have to question whether or not it is political, as soon as donald trump announced he wanted to take his company public, through a spac suddenly magicly gensler says new regulations around spacs, good point investment banking numbers horrible across the board joining me write now to react to all this chief dick bove what do you say as far as semos i agr

he had a lot to say about gary gensler yesterday and i wonder where the truth is in terms of what thisation is doing to stop truth social from advancing. >> that's a whole other pandora box. >> i think is legitimate the sec again going to the esg there's a lot of behind-the-scenes truth social waiting until march to try to close closer previous critical to stay in business. maria: we have a lot to talk about were just getting started the first quarter gdp is coming out at 8:30 a.m. eastern we have our all-star panel all hands on deck a big day for the airlines southwest, american airlines and jetblue all out this morning if thou shall not steal, then on was in the right place at the right time. she will join us next hour with the story. wait until you see this, more news with maria live on fox business. ♪ w dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones >> tech: when you have auto glass damage, trust safelite. this dad and daughter were driving when they got

doing but given the context where you have a lot of regulators including the chairman of the sec gary gensler turn their organizations unfortunately enter climate enforcers, it is refreshing to have him say look we have a job to do it's an important job is the bedrock of society, it's a currency, we have to maintain price stability in the fitting regulator is going to become the climate enforcer that has to come from a law passed by the congress, you can't appoint yourself the climate czar much as some regulators would like to do, i do give him credit for that, he standing apart and we hope he will pull a wiser course. >> a similar sentiment yesterday from jb gagnon sat down with the ceo of j.p. morgan chase and he said were good to decide who we are going to be lending to come over get it aside with the risk profile is in the doesn't matter if the democrats or republicans or anybody else agrees with us, you are managing money, you are out there trying to put a portfolio together, do you feel the pressure of esg? >> we ran some anti-sg etf's that are sponsored by second boat, this is esg for

he managed to get in with gary gensler twice over the course of the year. the democratic side. maxine waters blew a kiss at him. how did he use those contributions? were they bribes? that's a tough case where they probably got him. they used their real names in making campaign contributions. from what we understand in the initial indictment, sam bankman-fried they are leajing g did not use his name and you can give more money and exceed the limits. that's where we understand the investigation is starting to turn now. we hear that the u.s. attorney's office is expected to have more cooperators in building a case against sam bankman-fried and possibly others. sam bankman-fried's lawyer did not return calls for comment. liz: charlie, thank you very much. we've have now pushed into positive territory for the week. the nasdaq was the one holdout. now all three majors will end the week in the green. let's bring in our countdown closer. we may see a .50 basis point hike at the next meeting. .50 basis points really? >> absolutely. you saw that job report. there is

regulators without denying the finding and also agreed to a cease and desist order as cc chairman gary gensler said in a statement that compliance with our time-tested public policies century a choice as he put it where crypto companies will not comply we'll continue to follow the 23facts and law to hold them accountable. last week they charged genesis and gemini for a similar interest bearing product and in the wake of the ftx collapse, the s.e.c. has come under pressure for not imposing some of the these safeguards earlier. back to you. >> it is great they're cracking down now, kate it is just stunning, right now they have a cookie-cutter where they're going to enforce against all of the companies that have offered to for people to lend out their crypto and earning some yield. >> like the untouchables a little bit. >> i like what you did there. >> you have the fbi. and i think there is a theme to this, by the way, folks. i think one of the big issues is what are securities and what are not. where do you get additional regulatory framework involved and i think we'll see. but it is a little ir

i just think this group is incredibly problematic a lot of people were giving gary gensler a hard timetood against a lot of what these guys were doing you but he was acting pretty much alone, even on his own commission there were people saying basically crypto is the real deal this guy has stood his ground, and i say avoid coinbase let's go to adam in washington adam >> caller: a big ba-ba-ba boo-yah to you, jim. >> i'm liking that adam's playing with fire what's up? >> caller: sincere thank you to you and your team for well over a decade and a half of partnership, educating me to build a positive lasting portfolio for my family's future and having fun, staying connected with my dad, talking stocks i have a -- >> i love that >> caller: -- question for you, jim. >> okay. >> caller: my question, jim, is about a premium brand and a stock with a cult-like following, amazing leadership, but a sky-high p/e of 35 lulu is down from 451 in december to 325 today. can this stock hold up and make ground back in this slowing market and slowing economy buy, sell or hold here, jim? >> first i want to

to keep that within the bounds, like gary gensler. >> buse they ?re busy, focused on advancing those same agendayc . whloy ar rulese they propagating disclosure rules when, in fact, they should be focused on preventing people fromuc losing moneyker:? you would think this was an objective. and the irony is they're goingth to use this as a catalyst to say, well, now we needto to have greater purview over regulating cryptocurrencies orf whatever , when in fact thisen is just a managerial class , it's advancing a political agenda.at's and the more you advance a political agenda advng politil re you'r, the less you're doing the job thatthat's you're actually supposed to do and you don't. well s, tucker, that is the stoy of the administrative state. the sec included, as we know, really quick, if it is true that what sandbanks been fauci,r did is not so different fromt th what a lot of people are doing right now, are you concernedit about the stability of our financial system? >> so, look,d i hadconcer concs dating back to 2008. the thing that we didn't le

keep seeing that people who have your crypto are at war with each other, and i remember we had gary gensler rate, like an 8% rate when you're getting zero at a bank, beware that there's risks being taken. and i think, you know, david, one of the things people may not realize is, you can have risk in both the security and where you keep the security. i mean, it's tough enough to have risk in a security. >> it is >> like, so, david, i know you're invested about solana, light coin, along with -- along with alphabet and amazon, solana but i think maybe solana is, i don't know -- >> you question solana a little bit. >> i just try to offer -- i went to a really good restaurant the other day, and i was tempted to pull out my solana, but i ended up pulling out my american express. >> they don't take solana? >> i wanted to take, so badly, at bar san miguel, i thought it was time to take light coin, but i couldn't find anyone who knew what light coin was, and i said, listen, i'm going to take nonfungible tokens but everybody was offering me fungible tokens. it's a strange world i came to the conclusi

. >> reporter: it's a call echoed by the head of another regulator, gary gensler at the securities and for resources. >> what can congress do differently? >> they can give us money for a few hundred people to do this stuff. >> that's what you need? >> yeah. >> what's your advice to a pcon now? >> this is highly risky, and ultimately you need to be really careful. like what are you willing to lose? >> will you ever invest in crypto again after this experience? >> i would reinvest, especially now that the market is down. unfortunately, i don't have the money i once did to do it but i would. >> such a sweet family but curt really surprised me there that even after everything he is still a crypto believer and that's something i've heard now, guys, from a number of smaller investors. that's why it's so important for this industry to have guardrails and enforcement and for people to understand that if there's big up side, you're also taking on big risk. >> yeah, no question about that. you can find out more on all this crypto chaos by checking out "impact x nightline." this episode is stream

what to do, can you that's going to be -- as long as gary gensler is there, do you see progress beingo says he's an expert in this area because he taught it in graduate school, blockchain distributed ledger technology. we'll invite him up to congress to tell us what he knows and what he was doing last year when we had so many challenges for our investors and our consumers. >> just overall, what does the speaker mccarthy-led house expect to accomplish in the next few years? i love all these bills you guys are involved with that have no chance of ever becoming law. and you guys take it seriously and kill all the trees, all this paper comes out. there's all these things that are done and people at home are like, why are they doing these things it is nice to make a statement, but it would be nice to have something that has a chance of becoming actual legislation. is there anything on the table right now? >> well, joe, i think we want to keep our commitment to america, and some of that you're right are posturing bills that talk about what we would do if we had the house, the senate, and th

is going to come in and sweep everything gary gensler has had it.intech is here to stay. i think he's had it. i don't think anyone should be in any of these. i think everything should be sold >> bold call, jim. we're going to see you in just a couple of minutes and we're going to be -- >> thank you for t fti. heull me >> jonathan golub is going to be here we're going to talking markets with him after this. to adapt in the changing world, you could hire a professor of theoretical mathematics. we all know this equation, right? he'd crunched numbers day and night. that's it. to maximize profitability. morning. i have quarterly numbers that are beautiful. and forecast revenue from every corner of your organization. is that important? or you could use workday. the finance hr and planning system that helps cfos make better decisions faster. for a solve problems like a genius world. workday. for a changing world. >>> a little more than half an hour until the opening bell on wall street. joining us now is jonathan golub from credit suisse we haven't talked