million bitcoin. it is a buy-and-hold strategy. i think tesla has many other issues i am not privy to. i think acquiring and holding high-quality properties forever is a good investment strategy. bitcoin in my opinion is the highest quality property in the world. >> you filed with the fcc to issue shares as part of an investment benefit plan. is that going to the new ceo, to you, to other employees? >> there was a stock option grant to the new ceo. 60,000 shares. the rest goes to the employees, not to me. i haven't had any stock option grants since 2013 and i work for a dollar a year. we have made a concerted effort to make sure nearly all of our employees either have stock options or restricted stock units. that has been a highly successful motivational program. it has cut our attrition in half. it has been great for morale. >> decentralized cryptocurrency has been argued to be from the u.s. dollar. it has not happened yet. will that happen? >> i don't think it will. i think there was incredible cons

there are many, many hard-core bitcoin people who don't want to see the change for bitcoin and want toeep it at proof of work. yet their people will come out and say proof of stake is better for the environment. i am withholding judgment. i'm going to wait and see how the pos upgrade for ethereum goes. also fundamentally, bitcoin and ethereum are different. even though they are lumped into the same bucket, but the reality is they are quite different because the bitcoin is more about money, as underlying asset class whereas ethereum is more about a global computation system, lack of global internet computer system that will run smart -- like a global internet computer system that enables an fts and all of these tokens. bitcoin is going to be used very differently. it does take some experience and knowledge to understand the nuances i am describing. for that matter, that's not critical that bitcoin has to follow ethereum for its consensus. they can be different. apparently they're going in different directions at this point. yvonne: yeah. bobby, you mentioned how sentiment is looking bet

we know that bitcoin leads with centralization. means is that when looking at how the protocol is secured, bitcoin finds it most important to make sure the protocol is secured in a centralized fashion and that any individual user can do two things. one, they can validate the code. bitcoins core protocol are open-source. users can know the software rules to the systems. number two, users can participate in validating the accuracy of the letters themselves. that is something that is much easier to do in bitcoin than other protocols. one of the reasons it is important to do that is being demonstrated by the news over the last couple of weeks of implications of governments in positions of regulation, regulation to prevent money laundering. we are seeing that happen with tornado cash. we know some of the most critical services in the cerium space have felt the need to comply and have quickly done so, making users that have received even passively, transactions from tornado cash lose access to services they depended on. emily: i sat down

but bitcoin was the first acid to go.ready for the rest of the financial markets to catch up. i agree that we do have a lot further to go as far as rate hikes. we think that we will see the fed target rate somewhere between 375 and 400 by the end of the year. >> what does this mean for non-bitcoin crypto assets? what does it mean for ethereum? people fall onto sides here. you have some that are selling into the merge and some that are bitcoin maxis that are really more focused on the benefits that mining provides. how do you feel about this move? >> i don't think it is a rare thing for ethereum in the short run. in the long run, it might actually work out but the ethereum network is actually more secure. that is what really makes bitcoin the most secure network. essentially you have validated that are validating transactions all over the world in a decentralized manner. when you need to prove a stay, that falls in the hands of the few. those are the ones that give this to validated. there is an application but in terms of

perhaps that is part of the jpmorgan chase call with the major holders of bitcoin which sold out of bitcoin. there is not that risk of further major selling here speaking to investors on the program, i'm sure traditional asset managers are not keen on investing at lower levels. >>> we'll take a quick break the cost of living taykes center stage as an the race to replace boris johnson heats up >>> welcome back to "street signs. i'm julianna tatelbaum >> i'm joumanna bercetche. these are your headlines >> european equities edge lower with value stocks struggling ahead of wednesday's key u.s. inflation report. >>> the fbi rates former u.s. president trump's mar-a-lago estate >>> chinese authorities impose covid lockdowns in tibet a day after beijing locks down the hot spot of hainan >>> and continental in reverse after the second quarter loss, but sees production picking up in the second half >>> it's a fairly muted start to trade this morning let's look at where the boards stand. we have fairly flat trade for the ftse 100 up 7 points. cac 40 trading at the flat line. we have a little bit of r

bitcoin research analyst with coin shares.matthew, why this actually might work this time why do you think >> first, thanks for having me what i can tell you is there are several positive signals that could mean that bitcoin is soon entering the stage of more price stability or even nearing a market bottom. the first is that investors that bought in the previous market cycle, back in 2016, 2017 on the rise up to $20,000 per coin have resisted the urge to sell their coins in this past market high at any point last year when they could have realized gains. this is sort of a signal suggesting there are conviction among some bitcoin, and so minors are laborers adding transaction to bitcoin block chain and we're in the capitulation, and once we reach full capitulation the excess supply that they've been releasing and selling into the bitcoin market could soon dry up and that means they could again begin accumulating bitcoin as they have done historically. >> that kind of assumes that demand is going to keep up for crypto when we've

bitcoin isn't the first asset to go.waiting for the rest of the financial markets to catch up. i agree that we do have a lot further to go as far as rate hikes. we think we will see the fed target rate between 375 and 400 of the end of the year. >> what does this mean for non-bitcoin crypto assets? ethereum is getting ready to hit a pivotal place in its lifecycle. some are more focused on the benefits that mining provides. what you think about this move to proof of stake? >> i don't think that move is a great thing for ethereum in the short run. in the long run, it might work out. the ethereum network is more secure as proof of work. that's what makes bitcoin the most secure network is a long time through proof of work where you had computers as validator's that are validating transactions all over the world in a decentralized manner. when you moved to proof estate, that falls into the hands of a few and those are the ones that stake their tokens to validator's. this is how some other more enterprise related chains were.

i'm impressed by bitcoin resilience.e 60,000-dollar range, oh, it is too expensive. here is your opportunity to get in. when you zoom out bitcoin's performance speaks for itself. charles: when it goes down, you find out who hates it. all old school haters is dancing on the grave. they come back, wait until next time. >> diamond hands. charles: right, haley? >> definitely agree. it is a difficult as an attorney in this space. the more issues we see with crypto that gives regulators talking points but i think the way bitcoin price has held, especially compared to the dollar over the last year and the journey that bitcoin has taken over the last 10 years is impressive and exciting to watch. charles: it really has been. i want to go to some of these questions. bobby jo sent this one. what do you think about crypto regulations? haley, where are we now with that? >> that's a big question. so what i would say is that the u.s. for a long time has had trouble because there are some federal and state regulators that touch on this

no, i don't think we'll see one million dollar bitcoin tomorrow or 100,000-dollar bitcoin tomorrow butt two years i'm always realistic. we're in a bad market. charles: holding up well especially breaking through 24,000. always a pleasure. talk to you real soon. coming up why you need to be careful about buying the hip stocks, right? we'll go to the school of stocks right after this. ♪ alright, limu, give me a socket wrench, pliers, and a phone open to libertymutual.com they customize your car insurance, so you only pay for what you need... and a blowtorch. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diar

that is why we particular the bitcoin magazine where i work we separate bitcoin and crypto.w methodical buildout. everything is backwards compatible. the system has been chugging along for a decade plus. solana, these exploits, whether back end, it wasn't fault of native chain, but a lot of software being used was straight up exploiting or exposing private keys of users funds. that is where the hack originated. i think it is important to understand these things, you know, take some time not to go all-in with all of your money and savings. charles: i got a minute to go so let's go to bitcoin specifically. i had michael saylor on yesterday. the night before everybody was dunking on him. great memes and videos on social media and the most important thing though he remained extremely confident about his decision. just your thoughts on you know, again the heck cup that his company took, the writeoff they had to take but the fact is he is still all-in, what does that say to other folks investing in bitcoin? >> yeah. you know the long-term thesis of bitcoin is unchanged. obviously

>> blackrock is allowing institutional investors to buy bitcoin entry bitcoin be a coinbase while usinganagement and risk analysis. we see this as a clear response to the demand of the very traditional institutions. i want to flip this for a moment and say that while we are seeing traditional institutions like blackrock, the most significant and important adoption, bitcoin and the payment market are in the emerging market. these two forms of adoption are happening simultaneously. >> thank you so much for sharing your views with us today. coming up, is the ftc harassing jeff bezos? we will have more on that, next. is bloomberg. ♪ >> amazon is fighting back against the ftc. in a filing made public on monday, amazon claims that the staff has -- ftc staff have made unduly burdensome demands on the amazon is claiming that the ftc is harassing jeff bezos. how so? >> in this filing made public yesterday, amazon claims that the ftc has been overreaching in their ongoing consumer protection investigation into amazon subscription services including prime, audible, kindle and other services. the f

if you like bitcoin, this is a great leverage way to play bitcoin. riot block chain we don't own it but we may. >> let's talk grid dynamics. we don't do that a lot here, fred what do you think? >> we like -- we think the services companies -- this is a very much smaller version or you may have heard of epam systems grid dynamics is basically helping large corporations, home depot, raymond james, firms like that, become increasingly digital. and so if you like enterprise software and think enterprise software is critical, which we do, and we think that part of controlling inflation is going to be making our employees more efficient, more effective, then i think you have to like enterprise software. this company, the grid, enables that and they have -- they're global. a lot of their businesses in europe and a lot of their manpower is in europe, primarily eastern europe and india, so they're able to basically provide this consulting service across the board, actually it's a number of different functions. if you look at grid, i think it's a very interest

i said before bitcoin is hope.the strategy that we use in order to outperform during a very difficult financial period when most currencies are crashing and most assets are struggling. and i would recommend it to anyone looking at a good treasury strategy. >> you reported there was a $918 million impairment charge just due to the selloff of bitcoin. i'm just curious, how long has the transition been in the works on the ceo and chair role. >> there's no relationship between the transition and the writeoff, it's a non-cash writeoff the board of directors looks through that as well as the officers fong has been the president and the ceo heir apparent. he has been president and cfo until may of this year but given the size of the balance sheet and opportunities in front of us, the company really needed a world class, ted ka kated cfo. it cleared the way we have a talented executive in the same time period, i have emerged as an important advocate and spokesperson for the boin community. while fong and andrew execute on

visit indeed.com/hire >>> take a look at bitcoin along with stocks here falling, bitcoin is down 8% inat's dragging down names like coinbase, block and robinhood. joining us now is dan dolev in person nice to see you. >> thank you. >> and to have you here. >> happy friday. >> happy friday. not so much for the crypto stocks i feel like you have to be a fed follower or a macro economist to follow some of these stocks and where they're going lately. >> or a fortune teller. >> you've never liked coinbase. >> no. >> an 8% move in bitcoin and then an 11% move lower in the stock? >> that's a great point. you're getting the move in bitcoin but pricing pressure, massive volume declines. they're running at $1.8 billion in volumes per day it's a fraction of what they did last year. and a huge cost basis that they need to cut. it's like bitcoin minus. >> the bulls say there's potential there. they're expanding beyond just the crypto trading and they have first mover advantage. >> and what i would have to say here is if you look at their non-crypto trading revenue, if you take out the interest inco

. >>> bitcoin is breaking out.already so where can it go from here? >> democrats new spending bill allotting for a bigger and spending irs. boy oh, boy, 87,000 irs soldiers out there. watch out, folks. don luskin is here and will give us his take. alright, limu, give me a socket wrench, pliers, and a phone open to libertymutual.com they customize your car insurance, so you only pay for what you need... and a blowtorch. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. ♪. >> welcome back to "making money." i'm gerri willis. tax experts telling fox business that the democrats inflation reduction act which passed the senate

enterprise software business and bitcoin is out of the business and suffering big time as bitcoin falls taking an impairment of almost a billion dollars, $918 million and that happens any time bitcoin goes below the price where the company bought it and according to yesterday's report, the average purchase price is $30,700. bitcoin is well below that today and that's the cause of that impairment charge and the company has spent about $4 billion buying up bitcoin and about half of that, guys has been through debt. >> wow, very, very interesting stuff and michael saylor has an awful lot of followers and whenever he's on cnbc he gets a lot of attention for what he says. >> thank you very much >> let's get over to bertha coombs for the cnbc news update. >> good afternoon. here's your update at this hour. pat cipollone who served as former president donald trump's white house counsel has been subpoenaed by a federal grand jury for its investigation into the january 6th capitol attack the justice department is investigating then-president donald trump's actions leading up to the riot as part

bitcoin is up 94%.ave outperformed every major asset class, all big tech stocks, all enterprise software stocks. google sup 54%, oracle sup 42%. bonds, silver gold, amazon, facebook, s&p are down for this period. so we turn in good results for our shareholders. we're doing it on the backs of volatility. that means bitcoin price changing all the time and indefinite accounting treatment makes some of our gaap financials look a bit ugly but the number one thing to keep in mind is, we started this journey two years ago with an enterprise value of $666 million. we have added five billion dollars to that number. we're up to 5 1/2 or more billion dollars of enterprise value. it is up 730% in 24 months. charles: right. >> no strategy could have done that. other than a bitcoin strategy. of tpanyompa betetay that rumors liit b exaater t mleskou youutbobohishioptopt bill bin iongresnn t t senaten re iortantor itt ulti therehe some sort of rules to the road? almost every other day there is negative headline, not wi

bitcoin and others go through upgrades as we use them.realize we need to make some slight changes this upgrade to ethereum is going to fundamentally change the supply and demand, there is a lot of ee buelens, a fun word. it's an outside catalyst and they are looking at the merge for isolation. if you are trading or managing a portfolio, you don't look at a single asset you have to look at it in a broader context of asset, breaks, level of interest in the portfolio. while internally there's a lot of enthusiasm within the crypto community and ethereum community around the merge that will dramatically reduce supply and demand, one of the realities is on the macro side, people are worried about rates. people are worried about macro there is a lot of new capital coming in to buy ethereum on the changed fundamentals and technicals there is some risk that will need to play out in the market in my view, the merge has been a buy the rumor sell the news situation. the way people are playing it on the traditional side or through the trading side is

i can't think about it coming up, more pain for bitcoin hodl ers. best of "squawk box" in our squawk pod. listen anytime it is audio ly tonhis podcast. we'll be right back. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> a news alert, nasa tv said the launch at artemis at 8:33 is unlikely as they troubleshoot problems with the engines and a crack on the inner core stage. they have not said they're scrubbing the launch they have a two-hour window, presumably. >> those don't seem like things to fix in two hours, but what do we know, obviously. >>> the price of bitcoin down 70% from the high in november. let's talk about regulation in the crypto market, and

>> i think the bitcoin only miners are going to be a good bet.believe in decentralized monetary system it will not function properly under proof of state model. as much as ethereum could be an interesting currency for doing whatever, it is not going to be the same thing that bitcoin is if an moves off from proof of work. i don't think it chains anything. if people want to speculate on it, it doesn't bother me one bit. but if you want to own truly hard asset with the supply cap that cannot be disrupted or taken over, by anyone party you need to stick with proof of work. liquid mining, at least in north america has a great future. emily: mike lafred there. coming up, what is quite quitting? the concept getting a lot of attention among young workers trying to change office norms. we will discuss, next. this is bloomberg. ♪ emily: workers are fighting executives, pushing for part-time returns to the office. the latest example coming from apple. more than 200 apple employees signed a petition demanding the company to new its flexible work policy, inst

bitcoin and ethereum down. double digit losses in the last seven days bitcoin more than 12%. ethereum more than 17% it is a similar story for other cryptocurrencies with the collective market capitalization with tokens falling 11% in the same time period this drop in prices is coinciding with the inflation worry and the data from germany which was high inflation that came out friday. we also got updated guidance from the fed officials say they remain committed to raising interest rates until they are able to curb inflation in a meaningful way. that is not surprising for a time the rate hikes might not be as aggressive as anticipated which would be a good thing for the risk assets like bitcoin and ethereum. digital assets tend to perform better with more liquidity in the system bitcoin prices were higher in june, july and part of august when investors were talking about inflation peaked it appears the hopes had been dashed brian. >> so what's the next big thing? i know ethereum has the big transition coming up a big carbon footprint move as well does the crypto market follow t

bitcoins still hovering around $20,000. appetite wavering following jerome powell's speech on friday addressing interest rates may have to stay elevated to stamp out inflation? great to have you with us. at this point, how much is bitcoin and crypto just a macro trade? >> thanks for having me. i think bitcoin and the crypto market more broadly have certainly expanded over the last cycle. i think we are starting to see that reflected when it comes to macro comments coming from jerome powell and the general market sentiment tending to edge away from risk. i don't know if that will continue long term. it is certainly a result of how the markets have performed the last 24 months. sonali, it definitely feels like chair jerome powell spoke and crypto listened. sonali: crypto listened. you do have it back up in the last 24 hours. if you look at what is happening, macro is driving much of the story. there are also some single name events, ethereum being one of them. avalanche on the downside. some news over the weekend driving at l

a lot of long-term money into bitcoin. carleton: that will get the attention of our viewers. what investors need to know about what is gripping welcome to allstate where the safer you drive, the more you save like rachel here how am i looking? the most cautious driver we got am i there? looking good (phone chimes) safe driving and drivewise saves you 40% with allstate if you have age-related macular degeneration, there's only so much time before it can lead to blindness. but the areds 2 clinical study showed that a specific nutrient formula can help reduce the risk of dry amd progression. ask your doctor now about an areds 2 supplement. 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 carleton: much of the country experiencing drought conditions and widespread water shortages impacting businesses, industries and agriculture. the cover story of this week's addition of barron. we are talking about water scarcity. breakdown the figures on what this means

some of the new names investors are betting on can take on bitcoin. >> moving in the other direction,ey are among the biggest lag yards on the s&p in july is there more to come? >> and investors eyeing higher taxes ahead for corporations across the board who could get hit and how it could play out this hour. >>> a big show ahead as the dow 35n s&p move into the greeup 41 don't go away. only at vanguard, you're more than just an investor you're an owner. that means that your goals are ours too. and vanguard retirement tools and advice can help you get there. that's the value of ownership. >>> boeing is headed higher after the long-awaited faa for the 787 dreamliner one of many positive this morning as the manufacturer also narrowly avoids a strike at three of its plants. our phil lebeau has a wrap-up. hey, phil. >> reporter: hey, carl the strike news is important but i think the reason the stock is moving higher is because of the 787 dreamliner news which we confirmed through a couple of sources over the weekend here's what's happened the faa has finally approved the inspection process

of bitcoin?e: it is becoming a mass during markets become a little boring. supplies going, demand adoption is increasing, what black drop -- blackrock did with this thing with coinbase and more and more demand from institutions, just a matter of time for me for bitcoin to reach that $100,000 threshold. the key thing is if the stock market keeps going down, which i think at some point it will roll over in q3, then bitcoin will suffer. bitcoin is becoming more like bronze and gold and less risk on asset. the key thing you will notice about bitcoin is come friday when we have our happy hour, it keeps trading. there is no asset on the planet that does that like bitcoin. taylor: i will meet you on a doom happy hour, how about that? mike mcglone, counting us down for the weekend joining us on bloomberg intelligence. coming up, it has not been more difficult to own a home in more than 40 years. home sales have actually now dropped for six straight months. we will be speaking with allie wolf, chief econo

goes up or bitcoin goes down.uld say in the near term there will be a pretty high correlation. but longer term when bitcoin can stabilize, coinbase does not rely too much on trading revenue. i think the stock would not correlate that much with bitcoin like last year we have seen so far. >> do you feel a little uncomfortable recommending a stock that is -- okay, i'll read you some stats quarter to date up 90% for the week, one week, up 42% but year to date is still down 65%. it's all over the place. >> right but to be fair, when you look at many stocks in the market, many growth stock in the market, they are all over the place, right? if you look at not just on the crypto space, because right now i do feel like the market thinks the crypto names are high growth, the most speculative companies so that's why we see that volatility. but remember, bitcoin and also coinbase is only like 10 years old or 12 years old or so. when these industry matures, i do believe the volatility will decrease also, again, going back to t

a lot of long-term money into bitcoin. carleton: that will get the attention of our viewers. what investors need to know about what is gripping (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. brayden has amazed me. he's so strong. you hear about cancer but you don't ever think that it will be your child. it was your worst fear coming to life. the doctor tells us your son has a large tumor. and he said, well, that's not the only tumor. we thought my son had one tumor.

bitcoin up 27% solana up more than 30%. what's your take on crypto right now? we actually found the floor? >> you know, i -- >> you know, it's a little like o.j.'s still searching for his wife's killer. i think a lot of people still searching for that $40,000 in that store of value that's disappeared. same thing there's no there there crypto just has no utility you don't need crypto for blockchain bloc blockchain's been around for a long time actually ibm's had it for a long time i think that it may trade higher, it may trade lower it's an asset class. but there's no intrinsic value beneath what you see trading in front of you and the regulators know this. that's why they're coming hard for it so i wouldn't be in crypto i'd be a seller of crypto. and if i miss it i miss it but guess what i like buying things that have some value that back up the price that i see on the screen >> i was about to go to you for hopefully a slightly less morbid analogy but i'm just going to move on. final trades >> i actually have a question real quick for kevin so if a lot of it hi

a lot of long-term money into bitcoin. carleton: that will get the attention of our viewers. investors need to know about what is gripping (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. research shows that people remember ads with young people having a good time. so to help you remember that liberty mutual customizes your home insurance, here's a pool party. look what i brought! liber

that's what i'll tell you, citizen of the bitcoins.labatin was suspected of hitting a man. but then it turned out that he was driving. i know a lot of people with that name, you have a short memory of cue balls, and you strain and remember vasya, who keeps you have a pawnshop. my name is matvey danilych, bitkov no pawnshop. i don’t have any vasya, i don’t know, i have a legal business from which i pay taxes and i have no doubt that part of this money goes to the salaries of the policemen who guard my peace and the peace of other tax payers. anything you want to add absolutely nothing. in an hour you will collect all the information on bitcoin for me, i’ll understand, it’s not clear there is a colonel standing there. that's how zvonarev urgently brought me the detained balabatin, i'll be right there. he kept some documents for you, where the name of this vasya would be no. he took my passport i took the documents for the car and gave me an empty form with a power of attorney to sign everything, and some official position in the club. va

we hear about bitcoin, where is that going?elle: we did actually have an exclusive interview with the founder of galaxy digital holdings, very well-known crypto bull, hate lost half $1 billion due to the overall declines in crypto, his call is that bitcoin will stay in this price range for an hour for around 20-30,000 dollar range, bitcoin has been tight -- tied to the direction of the fed because they are looking for any move with bitcoin, look at the performance of bitcoin over the past 30 days, it is rising around 12%, a far cry from what we had in november of last year. heidi: let us get more on softbank, the ceo says he is planning to cut costs after a record $23 billion loss in the last quarter. our reporter has been covering softbank and she joins us in tokyo. bracing for some pretty bad numbers? >> the bottom line figure was way bigger than analyst estimates that we have been seen because softbank had aggressively marked down both its publicly held and privately held assets. the other surprises included the news of the

charles: right. >> we think bitcoiners, bitcoin proponents think, we found engineering solution to take trust out of the loop for money. charles: love it, man, thanks a lot, dylan. i didn't get the chair, i am working on it. we ordered it. see when i get it. >> thanks charles,. charles: market recently putting faith and money in mark newman. >> the future of work will be different. >> we're selling an experience. >> we're on track to lose 400 million this year. >> i -- >> enough. charles: yep, the same guy who employed at wee works is getting $350 million to somehow reinvent the rental market this comes from a guy said no to nimby, maybe because he got beaten down by friends on the left. walmart earnings revealing living standards across the board ain't good in this country. in fact they ain't good at all. we'll be right back. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it

just buy bitcoin. >> over to you what is your take on coinbase?n the company first went public a lot of people saw it. a lot of upside because there was so much enthusiasm from retail traders especially. where are you at with this stock right now? >> i think what's been the case for coinbase and other exchanges is likely not reemtable in the near term. there's been a huge catalyst of very easy fed and ultra easy monetary policy and a lot of speculation and that is what has propelled these out sized trading volumes we saw last year and that is not the case today that may not be the case for the next year. you don't have an immediate catalystt for something like bitcoin to trade higher or ethereum and others. anybody who is expecting this to go back to the prior level i don't think that should be the expectations for the stock here. having said that, we are believers longer term in the crypto ecosystem and i think there's many different ways to approach it. to josh's point if you look at the trading volumes of crypto they are down. if you look at th

a lot of long-term money into bitcoin. carleton: that will get the attention of our viewers.t investors need to know about what is gripping big part of the country, the emerging risk and where to find opportunities next. ♪ my relationship with my credit cards wasn't good. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees... i felt trapped. debt, debt, debt. so i broke up with my credit card debt and consolidated it into a low-rate personal loan from sofi. i finally feel like a grown-up. break up with bad credit card debt. get a personal loan with no fees, low fixed rates, and borrow up to $100k. go to sofi.com to view your rate. sofi. get your money right. ♪ [ male announcer ] today, you can give a gift like no other. a gift that can help st. jude children's research hospital save lives. i think it's the most worthwhile place to put your money when it comes to childhood cancer. if it weren't for st. jude, i wouldn't be sitting here today. if it weren't for st. jude, a lot of kids wouldn't be with their fa

bitcoin and ether are messy at this hour and bitcoin losing $2,007 and either yum down well below $2,000 a coin. can you blame the federal reserve for what we outlined? over the past three days, four fed bank presidents have used the verbal version of a red sharpy pen to make very clear the central bank is not done raising rates. let's put all of this together in the "claman countdown" couldron. how do you see this in the final hour? >> that, liz is only part of the answer. answer computers are piling on and cal gather rhythms are going and you've got a massive cocktail of toxicity today. volatility even under normal market conditions would be expected. this is a global margin call and people throwing in the towel, whatever you want to call it but you're seeing massive rundown into the close here. liz: dutch, we're double figures 354, 55 points for the dow and falling. dutch, can you hear me? we're going to wait on dutch and see if we can get his audio fixed. keith, talk about the fed as we said and i hate to keep bringing it up but now they have made it very crystal clear that they are

we are back to just looking at bitcoin. there had been a lot of excitement about something called emerge happening at a theory him as it moves from proof of work to proof of stake reducing the dependence on energy. people think this may be the breakthrough sector for the crypto community. many people thought it was a buy the rumor and sell the fact theory. thus then a month before the merge is to happen we could see ethereum collapse. bitcoin is close to the important level of 2700. tom: not much of a surge from the merge. bitcoin kieran lee at 21340. let's get into more at what is driving the market. the speak from -- the speech from jay powell on friday. joining us is esty dwek. and phil --the catalyst for the stock markets as we look toward the speech on friday, are we expecting more clarity from jay powell? >> the market is in a holding pattern. you have had a big rally from the bottom in mid june. now, investors need to see some evidence of whether the optimism is well-placed. the conventional wisdom is earnings are ho

bitcoin in the red, then the green. now it's down just slightly about half a percent at the moment to 22,887. we're watching this because bitcoin billionaire and founder sam bankman-freed appears to be resolute in propping up and supporting the cryptosecurity players even the ones on the edge of bankruptcy. don't miss my interview with sam one-on-one live coming up. for now, crypto now gold hitting a high of 2,043 in march and retreated to $1,073 per ounce. today it's time to hunt for safe havens in stock versus gold or treasury bonds? is that true? to our floor show traders and masters. great to have you both. dutch, we didn't even get to chicago fed president charles evans sounding the daily and hawkish bell earlier saying he's fine with a 50 basis point or even a 75 basis point hike in september. what about today east trading response tells you equities are the best bet right now or not? >> i think i'm all for, you know, another 50 dips too, even 75. i don't have a problem with it. look at what the bond's doing. it's

take a look, 198,913 for bitcoin, the drop coming after hawkish comments on friday, bitcoin down 70% to see you this morning. after such a drop, where does crypto go from here, bitcoin specifically? >> well, you know, bitcoin is an asset that's limited in supply and it's up against an asset, the u.s. dollar and fiat that's unlimited in supply. i'm still bullish. i think that we're in crazy economy times and the fed keeps printing money from thin air. bitcoin has certainity in an uncertain world so i'm still bullish for sure. jackie: does bitcoin present the kind of certainity to investors that you think they're looking for. when it was moving higher we thought it might be an inflation hedge. the drop says it's probably not being traded that way. i don't know. i think a lot of people still don't feel comfortable a enough with crypto and how the space is going to shake out. all these players are not going to be left one day and they're trying to also figure out if there's one or two men standing which one they'll be. >> yeah. i mean, for sure, not all crypto is created equal, that's fo

bitcoin being under 20,000 is not good for anybody.are a buyer of machines here, you're getting a much better price than eve ago. it was held down a little bit by the macro. this is relative to the 60 day. it flips positive in the last week right after being negative. i think the capitulation phase is online. i think that speaks to the general strategy that people should have around the balance sheet. i think it is too strategy that work well. all of this the way that irish energy does. that way you can grow the cash flow. all this is just using equity and debt strategically and not taking on too much debt and growing at that reusable speed. >> we think that in mid-september, the merge may finally happen. a theory will move from proof of work to proof of state. how does the upcoming merge affect how you want to be investing in these kinds of companies? >> the big currently minors will always be a good bet. if you believe in a decentralized monetary system, it will not function properly under a proof of state model. as much as a theory

they added the ability to trade bitcoin on their platform.have since been adding more and more assets. just today they added avalanche. so, they have realized that their customer demand for retail and crypto trading is incredible. and so, they have been competitive with us for quite some time. what we realized is that we can do it, providing a stock trading pie form two our users as well without relying on order flow. we can give people more advanced analytics and tools to make smarter decisions. we want to make our platform one that is involved with educating users in how to make -- how to do trades in a responsible way, as opposed to being more of a game. in that sense, we think we have a good shot of completing with them on this platform. -- competing with them on the platform. the are excited about all of the initial user growth that we have seen at ftx u.s.. emily: you have also in a number of different sports partnerships, your name is on arenas now. partnership with major league baseball. how much are these sport partnership, sponsorsh

bitcoin is down. sharply premarket take a look at the leaks of a marathon digital, riot blockchain all of them showing in some cases double digit decline >> we'll talk to former sec chair jay clayton. don't miss our interview with one of the ceo of one of the largest mtas >>> i think we're kind of in the wild west these days that is something where i would expect someone from the sec enforcement to pick up the phone and say what the heck are you doing in they should make inquiries, they should call ryan in, ask his counsel, what do you sthi think is going on here and get things going i don't have subpoena power, but if i did, i would use it right now. >> that was jim cramer yesterday talking about ryan cohen's stake in bed bath and beyond he's now cashed out of his entire position. let's bring in jay clayton, former sec chairman and cnbc contributor. great to have you with us. the idea he's hitting on the head is that ryan was an analyst on the stock should the sec investigate is this should there be

bitcoiny's podcast host natalie burnell here. stay with us, you're watching "mornings with maria" live on fox business. puma exploration is set to follow up its major high grade, near surface gold discovery, with a fully funded exploration program on its extensive land package in atlantic canada in 2022. puma exploration. oooh we're firing up the chewy app... what do we want delivered every month. hmm. clumping litter? resounding yes. salmon pate, love that for me. and some of those catnip toys. just choose the frequency... and ship it. we did it. i feel so accomplished. now you can pet me. ok that's enough you're literally so annoying. just kidding love you. great prices on everything pets want. chewy. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy cam

when the bitcoin world was going down a bit, i think bitcoin peaked at 61,000 or something analogous at 23,000. -- now it is at 23,000. a lot of other cryptocurrencies went out as well. you bailed out some companies. what money did you use to do that? >> there are a few different versions of it. one piece is basically the balance sheet. we keep our corporate cash in dollars. we have raised a few billion dollars over the course of the last couple years. we are a profitable business. we also did acquisitions that partially balances that out. we had cash left in that was on the balance sheet. >> wall street had problems early in the 20th century. mr. jp morgan himself use to go out and say, i will bailout certain companies. you were called the jp morgan of crypto. does that bother you? >> not too much. it is something i felt was the right thing for the industry. we were very explicit that we have a team of people working on this with your goal not to make a fortune during this. your goal is to do ok deals, not get our faces ripped off. contingent to that, do as much as we can to pay out

we have migrated from maybe 60,000 on bitcoin down to 20,000.oline hyde tells me maybe it is an inflation hedge and may a risk on asset as we try to hover around $23,000, $24,000 or so. let's take a look at some of the digital assets and maybe the more tradable assets at least here on a daily basis. if you think about equities, coming off of a pretty big monster rally where highs a little bit but pretty firm footing, off on the dow down about a quarter of 1%. at the s&p 500, we will call that down on the day. certainly in s&p 500, let higher by tech stocks. i are on the day for really trying to digest inflation versus the big jobs report tomorrow and really what that means for the federal reserve and how high they really have to hike rates if needed to really tackle some of that inflation. one of which is coming next wednesday, we take a look at a two year yield may be on the day. coming up, a new low for crude oil futures. that conversation is next. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and siz

ceo sam bankman-fried was on earlier this week showing his support behind a new bill to regulate bitcoin. one of the bill's bipartisan author is here next to tell us what he hopes to accomplish. republican senator of arkansas on why the bill's backers are not choosing the very agency that's pushed the hardest to serve as crypto's watch dog. closing bell, 51 minutes away and looking at red on the screen for the dow and s&p and nasdaq popping up into positive territory and s&p just turned positive by just a third of a point. russell is down, let's call it flat. we're coming right back. just getting started here on the "claman countdown". millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile

we trade on average 4 to 5 billion a day in bitcoin in spots.what about the ethereum merge? because it got hit big on friday. >> yeah. charles: are you worried about this. >> no, i'm excited for the merge. charles: really? >> big event upgrade for ethereum network. but as a trader from the market perspective, buy the rumor sell the news. there are no big inflows. who are the big institutional buyers coming in size? we're not seeing that materialize quite yet. charles: you had a tweet i thought was really intriguing, i want to share it with the audience. seemed like you were a bit peeved about gary gensler. instead of writing op-eds, the agency could engage with the participants it is supposed to oversee and b, more pragmatic practicable rules and enforcing them equally. what are you really getting at here? >> any what we've seen is a pattern with the sec, particularly under gary against letter. using orange groves howie test. crypto is new paradigm. the agency is very challenging to engage with. we see lawsuits left and right. precedent of enfor

one other place to watch is what's happening with bitcoin. we got commentary from some trading desks, jpmorgan and others, about maybe this bottoming process happening right now with bitcoin prices. earlier this week. bitcoin is below 24,000, 23,089 off 3.5% the reason it's kind of important some traders are eyeing this level here on the upside about 24,000. that was the high end of the range that we've seen for the last couple months here. if we were to break out above it maybe it poretell morse upside, but kind of drift to the downside here, might just say that, a, maybe the bottom is not in yet, so watching that 24,000, that's the reason why some traders are scrutinizing that level. we'll keep an eye on the bitcoin prices >> thank you very much >>> tomorrow's cpi report seen as a key indicator of the fed and market's next moves. it was the hotter read in june that sparked the fed's first 75 basis points rate hike we've seen inflation expectations cooling and speculation swirling over whether tomorrow's data will bring any further signs of

bitcoin is being viewed as a risk asset. to people. it is just not big enough. it hasn't been fully adapted to be an inflation edge. it is still being perceived right now is a risk asset but if you really understand the fundamentals, if you dig into the technology behind the block chain, you recognize that it will be impossible for us not to use the stuff in the future because it will create massive economic efficiencies. you will be taking middle men and women out of transactions, this massive -- mechanism. it may become a store value and inflation edge right now, it is connected. it is connected to risk assets at least for the time being to the nasdaq. >> in my day job, i am in a proposed merger. i ask myself the question a lot which you were alluding to which is what is the potential future utility of bitcoin in the everyday economy in the future versus today? and does that in your mind impact the value of bitcoin in a dramatic way or no? it is just a stored value and that in and of itself is fine ? >> that is a question