could it be a former cftc chair?crypto dad when he joins charlie gasparino and me next. it's happening on "the claman countdown. ". ♪ ♪ amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. at harbor freight, we do business differently from the other guys. we design and test our own tools... and sell them directly to you. no middleman. no folks in suits telling us to raise prices for the heck of it. just quality tools you can trust... at prices you'll love. that's how we like to do business any way. whatever you do, do it for less at harbor freight. get ready: our biggest deals of the year drop thanksgiving weekend. sinc

i heard rumors that the beneficiary of that legislation might be the cftc. not the fcc. the markets are fed up with the last decade of sec governance in the area. are you hearing the same thing? would you expect legislation to come through? j.w.: it would surprise me. if the industry spends $100 million to support the administration, why would they wait until the new congress can get a better deal instead of humoring the ambitions of an outgoing democrat senate agriculture chairman who wants a legacy bill before she leaves the senate? i have heard the same rumors you have heard. i don't like it. we should wait until the next congress. the outcome is i have concerns about some things that were not done sufficiently but it's a good effort. it's an effort intended for the best. through the glass darkly of the senate we would see those ideas take the same path that crowdfunding legislation that was the brainchild of patrick mchenry. we saw the crowdfunding going to the senate. it just destroyed by the senate compromises that has led to a crowdfunding market that is broken. t

it's really the cftc that should be in that lead role.this regulation by enforcement posture, the s.e.c. coming after some of our most brilliant companies across the united states and saying got you, you actually were a security even though you may have thought you were a commodity. we're not going to give you any guidance. there's no actual regulations. there's no statute. there's no law that defines this and it's chased companies outside of the united states and there's only a few businesses left here. so we have a lot of work to do now that we've elected our first pro-crypto president to realign the regulatory framework and to build a welcoming environment for digital asset businesses here in the united states. maria: i like the way you said it. i agree with that, that it has been regulation through enforcement. that's right. i mean, because it's like there's a piece in the journal the other day, everybody's under investigation. everybody's under a probe. i mean, that's what they've been doing. perry ann, we can exclusively report that

for the sec and cftc, without those positions crypto czar is not going to be able to get much done.ng that we touched on last week. it crosses many different agencies. we need to deal with prudential bank regulators and market regulatory issues. we need congress to step in and pass a new law. having a crypto czar position at the white house would help facilitate those conversations and make sure we are getting all the pieces done. there are a lot of different parts that need to be addressed and they occur across different agencies. yes, we would welcome someone in that role, but not at the expense of getting someone strong and at the ftc and cftc. caroline: if it's not mutually exclusive, who would you want to see? how deep within active duty would you want them to be or would you want them to be a step removed? >> there are two qualifications. nuanced. you need someone who can navigate the people and the personalities of the industry. you also need someone who knows how to navigate government. if someone shows up from industry but doesn't understand the nuances of the relationships

the cftc, traditional regulators are busy with regulation and enforcement. this takes the notion of pushing legislation for congress to fulfill donald trump's mandate to be the best crypto president to push this industry, to bring the innovation back from on shore as it was during the biden administration's regular tory crackdown, you need a body that can deal with congress, the administrative state, the sec, donald trump and that is why a lot of people believe trump is leaning toward creating this thing. we hear that it has been pushed, they like it, they like jean carlo, there could be other candidates, never know with donald trump. the treasury secretary, don't be surprised if a dark horse the marriages. as of five minutes ago the main candidates were not called. we are going into left field on this one too. neil: you could be in the running. charles: for some reason i don't think so. neil: it was a compliment. a thank you. you are the best and you stay where you are, i want to go to how lambert, he is been coming on the show for a while. always respect i

it's going toe be regulated by the cftc.er here a security and would fall under the domain of the securities and exchange commission. we're not talking about building a fancy mansion. we're talking about building a foundation on which digital assets can exist and thrive and unlock that innovation in america that has been really offshored for so long. that's why bitcoin ends up in what the bahamas because they couldn't live here and be subject to real regulation. i shouldn't say bitcoin. i'm sorry, ftx. maria: i love what you're saying, because you're making the rules clear. and i think the clarity end of this was one of the issues for this market to really be believed because people weren't sure who was running it, who was overseeing it and what the rules were and that was because the biden administration just threw lots of climate change agenda rules at every single agency. isn't that right? and corporations had to follow all of those new regulations. >> well, they were busy with the environmental stuff and then this idea w

and the cftc specifically. know, is a commodities regulator, and there's been a lot of debate as to where this should be regulated. the speculation in washington -- because all kinds of people's names are being thrown around for these positions. but they are probably going to pull a little bit of this away from the sec. gensler has been very successful in litigating this whole issue around crypto. but the industry wants to be regulated so financial institutions can own this asset. so this is the anticipation of a more regulated environment environment so institutional and sovereign wealth can take a position in bitcoin, up to 3%, 4% weighting in typical portfolios. and this is actually probably going to hit 100k. everybody's speculating, pretty quickly. and i don't see any reason why it stops there. if this truly is going to be an alternative asset class much akin to gold, there's demand for it. and the other offset will be the interest in bitcoin mining once it good many requests regulated. -- becomes regulate

that would be unbelievable or cftc.to all of this. >> coin base has been a really important voice in this. three key players came together, coin base, ripple and horowitz came together to make sure crypto is front foot on the agenda. i think we'll get someone in the s.e.c. who is very familiar with crypto. there's a couple names in the mix, i think are very strong candidates. the nice thing is, these are people who don't go in with a we're going to attack this industry. it really did turn out to be at a minimum unethical and maximum unlawful and again, federal courts are saying that, not just brad gorlinghouse. maria: trump talked about the stable coin industry. you're about to launch a stable coin, right. >> we're going to launch ripple usd. the stable coin market is around $180 billion and the largest player is called tether. we think there's an opportunity for the ripple of the world, you know, institutional use case selling into banks, solving that cross-border and really making payments cheaper, faster, we think th

write digital asset legislation or the white house and other agencies that have jurisdiction like the cftci would point you to the tweet from kristin smith, the ceo of the blockchain association who posted saying the crypto czar idea is a great idea but ultimately they can only actually do things if there is a strong secretary of the treasury and sec chair to go along with that and we have not gotten picks for either of those roles from the president-elect yet. >> a lot of this is signaling. but just remind us on the campaign trail some of the promises to make the u.s. the crypto capital of the planet, to make mining ever more focused in the united states, to have a reserve of bitcoin. is that necessary to have congress make moves or can this be done from an executive order from a lead position. >> some of it can in that the promise -- the president can make appointments, putting in place more crypto friendly chair who would be more lenient with the industry perhaps than we have seen in the biden administration but a lot of this will come down to congress and it was not just part of donald

or cftc level. there are two regulators. clarity on those two. where will it sit?dividuals in those positions beyond gary gensler that will help drive clarity for the space. that will just give clarity for not only institutional investors in the u.s., but japan who is waiting after the u.s. because the japanese market is set to open up for digital assets in the institutional market. our parent company from japan. what we are seeing and we're excited about in '25 and '26 is clarity at the u.s. markets in the s.e.c. level and that will open up a lot of the asian countries and that brings in massive adoption into the space. >> how are potential concerns here because we saw with the announcement of world leaders, with that announcement, there were members of the crypto industry that were concerned with the reputation of the crypto world now that donald trump has the market? are you worried going forward or if there is a risk for the industry? it may not just be all positives? >> we witnessed this four years ago with ftx. like any industry, like the early web or early a

that around the world it will settle it but it's when we get compliance to regulation whether the cftc or what chancellor has gone out of the ftc with better policy we will find institutional investors buying a bigger waiting in about bitcoin, i see this way past $100,000 next year rapidfire on topics. you are hired who. edward: we will be back on airbnb host are planning still ahead, israel is inching closer to a cease-fire deal with hezbollah how the energy markets are responding to that right after the break. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. introducing new eroxon gel, the first fda-cleared ed treatment available without a prescription. eroxon gel is clinically proven to work within ten minutes, so you and your partner can experience the h

purview of the sec or if they were commodities which then they would fall under the purview of the cftckevin is right. we have to pick one and go with it. if kevin says he doesn't care as long as we have an answer i agree with that. pick one and go with it and stop the debate. john, i this i the problem is every day we wait we get wore eft about people like china or russia or you name it who are going ahead in decentralization. china is well ahead of us in terms of their digital currency. if we don't do it, someone else will. especially when you think about the race to a.i. i don't know if there is a huge link necessarily between bitcoin and a.i. it is fueled together in terms of the tech race. we need to be a leader in this space. >> john: i'm saying we're moving ahead so quickly in all this stuff you need to get a handle on it or somebody else will. taylor, great to see you. see you later on today. appreciate it. >> thanks. >> gillian: just in, a new york judge has granted the incoming president permission to file a motion to dismiss his hush money case delaying the sentencing. nate f

reporting that president-elect trump will fill his administration with pro-crypto aides at the sec, cftcall of which oversee elements of the crypto industry including its relationship to the banking system and maybe even an executive order on that. stuart: okay. we need some analysis, we've got it from tom hayes who joins us here in new york. can bitcoin deepen to running? >> i think it's the new vix. the it's a sentiment indicator. what it's telling us right now is animal spirits are back. it has momentum, it has trading momentum, and it probably goes to $100,000. based on what? i have no idea. [laughter] people are excited about it. the policy is pro-crypto from this new administration, and it's telling us that people believe in risker -- risk, people believe in the future and it's consistent with what we've seen since 19332 the in election years, the markets' risk assets tend to rally into the indiana -- inauguration. and the first six months of that next year as we, absorb policy -- stuart fourth not so much. >> not so good. stuart: you're talking about animal if spirits beginning to

liz: you are regulated by the cftc.suit that the government had filed to keep you guys from active trading and even in appeals court with some pretty liberal judges agreed with you and allowed you to operate, so i don't know. let me just do, i'm doing a lot of what-ifs today but if polymarket were interrupted, business were interrupted by the feds are you ready for what could be a massive influx of people rushing to your site to bet on all different kinds of things including these cabinet positions. >> yeah, well as you know it's interesting because i don't know if it'll have a meaningful impact on the business and liz you mentioned statistics about kashi so for context, we legalize election markets in october and we had approximately, you know, two full blown weeks of trading on the markets. we had two weeks versus some other competitors are offshore unregulated like polymarket which had a year and by election night we were already, you mentioned we did $470 million of volume on election night and i believe polymarket