we speak with the ceo of binance's united states branch.eanwhile, we are not just looking at a centralized exchange of crypto, but decentralized options. what is the future of decentralized finance? what protocols are being built? we speak with a venture capitalist who is investing exclusively in crypto companies. let's talk isn data. still well above 60, but slightly slower pace. joe: exactly right. still very strong. i think the way people would characterize the economy overall right now, and nothing we saw in the ism today, was very strong and fast growth. there are these concerns about prices. there are these concerns about supply chain bottlenecks that will slow things down. for more on ism, i want to bring it u.s. economic reporter olivia rodman. the market turned a little lower and it seemed like it spoke to the concerns of the market, maybe a little bit of a slowdown in growth at the same time of these pressures that continue to mount. olivia: we know debt demand -- that demand is there. it is really about employment and supply chai

coming up, we hear from the binance u.s.on the regulatory scrutiny it's facing for its wild ride this year. crypto is staying on volatile at $33,000 for bitcoin. from new york, this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. caroline: this is "bloomberg technology." i'm caroline hyde in for emily chang. let's get back to the market fund bring in kriti gupta for a look at how markets shaped up. kriti: a risk off day. on risk off days, who are the winners? it's tech. it's treasuries. you could see that with the nasdaq 100 outperforming. this will be crucial as we talk about where we go next.

caroline: binance u.s. ceo brian brooks earlier.ar industry has spent decades getting electricity directly from the sun. now it's working on making panels more powerful and transparent. >> today we are at -- electric power research institute for a peek at one of many innovations companies are working to to take -- working to take solar power to the next level. the biggest success story for energy and environment is how companies manage to cut the cost of solar panels by 90%, make -- making them a cheaper source of electricity then in many parts of the world. now that they have made them cheap, companies are working to make them more powerful. the reason for that is that panels are just part of the cost of solar power. developers also have to compensate workers and pay lawns. as panels become a smaller part of the overall cost, it helps developers if they are more powerful to get more return on the rest of their spending. this is one of several firms researching a material. it is thin and transparent, and convert sunlight into electr

and binance globally?te legal entities, but how are you owned by them or what is the relationship? >> we are not owned by them at all. we share a common founder and historically binance licensed some technology and the name. a couple years ago it was clear the world was segmenting. you had most of the world which was still learning about crypto, did not have crypto licenses or requirements, and then an emerging part of the developed world putting crypto within a regulatory framework. we were founded to be a regulatory compliant license exchange. we got 43 u.s. states that allow us to trade in our borders. we will eventually have all 50. there are other parts of the world serve you different company -- served by a different company. we have a separate board of directors, separate ownership. you might think of us as a binance branded exchange doing our own business. different companies. >> when we talk about the u.s. regulation or lack of, i'm curious as to your thoughts, as to why it has been so slow to see

that and the latest on binance with nick carter in a moment it's another day.lcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> a lot of news in the advertising business today and it looks like it's kind of booming, julia boorstin. >> that's right. this year's up fronts revealing a booming ad market. cnbc's parent company comcast announcing the biggest up-front ad sales period ever, with double-digit increases in volume and price across the company's assets and there is particular strength in digital with $19.5 billion in sales up from last year, driven by peacock, drawing more than half a billion dollars in up-front ad commitments. and the super bowl is already 85% soldout with ad

as the areas crack down on the different areas of concern >>> let's talk about binance for a moment thepto in the world is facing regulatory tightening. "the wall street journal" finding that groups all around the world are working with lawyers to recoup massive losses they incurred when it froze on may 19th and according to gizmo, the ftc has found 760 complaints filed against the platform since last june so, casey, what's the future of binance at this point? we've talked about coin dust and some of the others that are on the scene in a big way -- coin base, i'm sorry. does this create a massive opportunity. there's no way these users are going to be recouped for these losses with futures and highly leveraged and all the rest of it >> that's right. i mean, as i've been reading these stories, the main thought that i have is if you're going to do risky options tradings on crypto, do it with a company that has a headquarters. part of the problem here is that binance i guess technically isn't located anywhere so, users can't even figure out who they're supposed to sue. i do think they're t

didi --binance licensed the name and some technology from binance .com.ting into two basic kinds of market. ÷hój■elcteldk&] was the learning about crypto, did not have crypto licenses or requirements, and then you had an emerging right of the world that started putting crypto within a revelatory framework. we were founded precisely to be a regular tour -- regulatory compliant board. we will eventually have all 50 state licenses. and then there are other parts of the world served by a different company but other than licensing the name and technology, we have a separate board of directors, separate ownership, and you know, you might think about us as a binance brand of exchange. we are the eighth biggest in the world. different companies. >> we got the brand here in the u.s. now. when we talk about the u.s. regulation or lack of it, i am curious as to your thought as to why it has been so slow to see something a little bit more formative out of the fcc and the other regulators, whether it is setting up guardrails, proving etf's. there does not seem to be a

japan has warned binance. germany has worn binance about their so-called tokenized stocks which are essentially crypto assets that track the performance of stocks and look very similar to me to the kinds of equity swaps or total return swaps that crash the archaicos family fund. we recently saw the uk's fca tell binance that they need to put a warning on their website as of today saying that they are not registered with the fca and i think in some ways the us regulators are behind our international regulators to putting out these sort of consumer warnings. so that's one thing that they could do. another thing that they could do is look at leverage by retail investors, right? why is there this difference between the access to leverage of retail investors in the stock market and in the crypto markets and i said in my opening statement. i think it's very important whether it's congress or the regulators. we pursue an avenue to ensure that private funds like hedge funds are disclosing what their cryptocurrency pos

the ceo of binance just earlier this morning said he is willing to hand over to a new ceo if ear thisoverto another ceo if there is someone a strong regulatory background. so perhaps, carl, send resumes his way. while regulation worries some it could ray the groundwork for digital currency less volatile with more utility. and carl you are seeing different companies in the cryptospace distinguish themselves by regulation or at least transparency >> definitely it's become an edge for some feeling they can play it that way, dee. what a week of coverage from you in particular. we are getting earnings from alphabet, microsoft and apple after the bell, as we once again get closer to session lows "techcheck" back in a minute ♪ ♪ ♪ >> announcer: "techcheck" sponsored by comcast business, powering possibilities because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. ♪ put a little love in your heart - david ruffin ♪ my bad, my bad... good race! -you too! you were tough out

. >> and my point here as well, there's a lot of people concerned about what's happened with binancen a lot of different jurisdictions. here in the u.s. unregulated futures trading runs afoul is that why you can't offer the full suite of products here? do you think the regulatory environment is one where american liquidity is attractiv enough that we should expect to see more players than just coinbase operating how will this shake out? >> yeah, totally there is a totally different regulatory environment in the states than most other jurisdictions. particularly around derivatives. there's very little clarity around the framework you do need a license to offer crypto derivatives in the u.s. but there's no clear crypto derivatives license. it's barely leveraged at all, it's like 1.2x and you can only access it if you can interface with the cme through brokers it's not an easy way to trade. you know, i think that may change over time i think people are going to figure out ways to get licenses and/or the ftc will roll out some crypto specific framework at some point. i don't think that's

the market, but the result of this piece, from two of the most popular crypto platforms, ftx and binance, they're curbing the leverage that traders were able to use, and that could ultimately lead to less volatility in these ma market carl >> yeah, jon, i wonder what your thought was on that amazon piece. i mentioned with cramer earlier this morning we haven't seen it matched by any other news organizations and i don't know, does it run afoul of what we know about amazon's discipline to let a story like that slip? >> the part that is weird to me, carl, is that if you were really amazon planning to roll this out at the end of 2021, would you just be hiring your project leader now and would you roll something like this out at the end of the year, when q4 is -- that's the playoffs, that's the super bowl for amazon wouldn't you wait until january, february, when things calm down a bit to roll out something like this and beta form test it out and have it all set by the second half of the year? i don't know seems a little fishy to me we will see. >> we indeed we will >>> still to come, robinho

finance -- binance is looking for a new ceo.s to establish what the bill headquarters around the world and act as a financial institution with licensing and compliance procedures. the world's biggest crypto exchange is facing scrutiny by various agencies in the u.s., thailand, and the cayman islands. haidi: starbucks quarterly results beat estimates of a strong u.s. recovery, but slowing china growth dampened the mood. it is a key gauge of restaurant success. it rose 73%. but in china, they were way below estimates. it highlights the challenge for starbucks as it rapidly expands and china. it has 5000 locations in the region and is planning 600 new ones this year. microsoft reported sales that exceeded estimates. optimism was temporary. by slowing growth in its cloud computing business, sales rose 45% after accounting for fluctuation, marking a slowdown from previous quarters. fourth quarter sales climbed 21% to 46 billion dollars, with net income rising to just over 16 billion. haidi: let's get a broad check across our equities