the instability of bitcoin is a problem for people. a drop of $0.25 a day can make the difference between a leading and not eating or not matter. in as sante tourist hotspot an hour from the capital city, people were looking forward to the bid con project, expecting visitors to pay for their coffee using crypto easy. i run to get done and we thought they would all come to be part of a bit con revolution. turns out there evolution never started. hotel owners or early adopters have become weary as bit coins value dropped. the little bit boy fussy nick and oh, it's not easy to understand bitcoin. i think there's potential in long term investment, but that would be my personal risk as an entrepreneur. if amelia sion, the can 2nd go back president will, kayla has invested public funds and bitcoin, and it's unclear how much were the loses. we've give some hints, economists, ricardo castaneda puts his estimate at $225000000.00 and expect a loss of $60000000.00 records. those couple. the young is that money could have gone into education or in

last time a customer paid with bitcoin. she says no one here cares much for the crypto currency. as for herself, she spent the $30.00 and bit con, that the government gave out to every citizen. and that was it. see? oh sure. i bought something for myself with those $30.00. i'm about. i mean, after that, not much happened in her app. it's a far cry from the economic miracle precedent night. but kayla had promised turning himself into an hour tar voice fans talking about investment wealth and a huge vision, reconsidering bitcoin city, and nearly tax free community run on energy from a nearby volcano to a mission. lucille income tax in so far, none of this has happened. bitcoin has crashed and people still prefer us dollars. most of them barely have any savings. anyway. they earned just enough to get by with nothing left to invest in shaky bushel currencies. but, but allow up all assume salary. the instability of bitcoin is a problem for people. a drop of $0.25 a day can make the difference between the eating and not eating or

bitcoin joins me to discuss his push to make bitcoin the currency across border transaction.irst let's get a look at the market. volatility persists and rate worries continues. joining me is emily from bloomberg. >> what a volatile day in the u.s. equity market. the s&p 500 finished the day lower. it the lowest 60 day of losses for that u.s. equity benchmark. what i am looking at is the nasdaq. we saw bit of outperformance there in that tech heavy index, finishing .2%. it was led by gains in the mega caps. tesla up 2.5%. also apple up .6% to finish the day. they have larger weightings in the nasdaq 100, then the s&p 500. that lends itself to a bit of tech outperformance. we talk about tech outperformance. if you zoom out, the nasdaq 100 is down over 30% here today. it has been a great environment for bears or investors who are betting against the nasdaq 100, perhaps retreating a little. you take a look at the as qqq, the etf betting against the nasdaq 100. it sounds biggest daily outflow since june yesterday. it follows a steady stream of outflows from the fund in the last fe

that's one of the illusions by the way of bitcoin. they are they think that money has wealth in itself that you that you hodl, you know, hold on for dear life to bitcoin and i'll take you to the moon as a result of its scarcity. the value isn't scarcity value really is abundance. this a theme of my new life after capitalism. now, in the past we have talked to you bitcoin and you are a proponent, weren't you? i was a critical proponent. i've always opposed they have a fundamental in this concept of which is about and the cap it says there can only be 21 million bitcoins ever. and so it's about 5000 of them been lost. it means that, you know, there are only 80 million bitcoins ever to be produced and the entire clutches this limited supply die as a source of wealth and value limit and supply is not a source of it. it prohibits from actually performing as a currency a currency. it expands as its uses expand, but if all expansion uses is manifested in increasing price of bitcoin and it gyrate and and show this to the volatility that we're

one year after it made bitcoin legal tender. welcome, cdw business, i'm christy plats and amberlynn. apple is expected to announce its new i phone model today that's a little earlier than in previous years. it could be with hopes that an additional week or 2 on the market will have a positive effect on the quarterly figures. now holding a hybrid event online and in person marks another change to the way apple has been doing things. and more changes could be a head when it comes to where it makes its gadgets. the i phone is apple's flagship product. nothing else means more to be american tech giant than the iphone does. almost $41000000000.00 worth of iphones were sold last quarter. that was just under half of apples. total revenue i phone production is almost entirely based in china . and apple is becoming where you have this dependency. china 0 cobit policy and strict locked downs, paralyzed. it's partner fox con, which makes the phones that complicates things for apple industry. experts think apple has become more reliant on c

si invirtieron en bitcoin su inversiÓn estÁ segura. >>> el uso de bitcoin es una apuesta de futuro.onstrucciÓn de la bitcoin city, una ciudad futurista que el gobierno ofreciÓ a un costo inicial de mil millones de dÓlares, la que serÍa financio da con los llamados bitcoin. este es mi reporte, la seÑal a los estudios. >>> mismo que te agradezco samuel. >>> mi reesta historia, ayer contemplamos con estupor el mo mepts que una presentadora de televisiÓn en oklahoma sufrÍa el inicio de un accidente cerebrovascular en directo y frente a las cÁmaras, mire. >>> esta maÑana ella estuvo en el to day show de nuestra cadena hermana nbc. ella contÓ que pasÓ por varios exÁmenes y esto es parte de lo que compartiÓ esta maÑana. >>> su nombre juli dice que no tiene antecedentes familiares de cerebrovasculares. y la noche anterior de sentirse mal, habÍa dormido bien y estaba en perfecto estado de salud. muy profesional por cierto. al mantenerse frente a la cÁmara. le tengo mÁs historias en noticias telemundo mediodÍa. cuidado a la hora de alquilar una vivienda, aparecen nuevas estafas. el chelsea de

so bitcoin miners can swoop in, use that already existing infrastructure to mine bitcoin.tradeoff with ethereum, going to proof of stake, what that stage is, means it's a little bit like the fiat system, more money you have, more ether you have, more power you have over the network. i don't really like that very much. that is very centralized. that why bitcoin was created to have decentralized network. doesn't matter how much money you have you're not in control of the governance and the system. bitcoin literally allows miners to seek out cheaper renewable energy. that is the most important point. 57% of bitcoin uses renewable energy. charles: i will put you down still pondering on ethereum, not sure just yet. maybe. leia, thank you very much. appreciate it. we have ann berry. you're always living your best life like these bitcoiners but investors apparently aren't being able to do that for a while. last time i saw you said the market pulling back 15%. do you see that potential vulnerability? >> i definitely do. for the record i'm not living my life like bitcoin, that is h

a lot of online exchange options don't allow you to do that, but with bitcoin depot and our bitcoin depotlet app, our users maintain their own custody of their crypto and have their own private keys. even if bitcoin depot were to get hacked for example, the u users would be completely unaffected since we don't have any access to their wallets. liz: yeah, well, you know, we're calling it ghost in the machine but these are hackers in the machine we're able to somehow get through there. so i guess the question becomes as you are launching what is expected to be this near $1 billion reverse merger to go public with your atm machines that enable people to put money in and be given these tokens back, talk to us about how it actually works and what do you think something like this does to the psychology of everything that is swirling around this very early stage industry? >> well, how it works is you would go to our website or our bitcoin depot app, and we have over 15,000 locations where you can buy crypto in person. around 7,000 of those are bitcoin atms and there's another service we just lau

we don't know what bitcoin is, but were trading at, this is all crypto.e got a start together, neither of us had run the company before, we had $100 million i, it was not a compelling pitch. david: you got turned down? sam: people thought that so cool, i hope you find success. at the end, we cobbled together lines of credit and other things from various sources, trying to be able to build on it. david: you started another company, ftx, what does ftx do that your first company doesn't do? sam: alameda is trading for itself, ftx, you can think of it as infrastructure. everything between a buyer and seller. i can't buy and sell itself, it is a venue where people can go to trade crypto. every piece in between, from the clearing and settlement costs to date, money laundering to compliance, the front end and everything else. david: why does somebody come to ftx and use you and stead of one of the similar exchanges? sam: to each his own. the thing we specialize in, we've been pretty fast-moving and innovative. we are a relatively new venue, but we adapt our prod

david: let me ask you this, when the bitcoin world was going down, bitcoin p debt 61,000. -- when bitcoineaked at 61,000. a lot of other cryptocurrencies went down as well. you build out some companies. what money did you use to do that? sam: so, there are a few different versions of it. and, you know, one piece of this has been technology. we keep our corporate cash. and so, we raised a few billion dollars over the course of the last couple of years and were a profitable business. now, we have also done some acquisitions, which balances that out. we had some cash left and with the deal for instance, that was on a balance sheet. david: wall street had its balances early in the 20th century. mr. jp morgan himself used to go out and say i am going to bail out certain companies. you are called the jp morgan of cryptocurrency. does that bother you? sam: it does not bother me too much. our very explicit mandate that even people working on this, your goal is not to make a fortune. for us doing this, your goal is contingent on that. do as much as you can to bail out the industry. that was the hi

correlated to bitcoin is the nasdaq 100.he five-day move here, when i said significant, but i meant was 4% drop. not the biggest drop we have seen, but moving into september, a traditionally hard month for stocks, it will be interesting to see how this trades next week we saw traders try to get back some of those gains, but ending the day and the week lower. i want to take a look here at starbucks. they have that new ceo announcement on the back of that. the stock has declined 2.8% on the day. 2.9%. deeper than we saw on the s&p. lululemon was your biggest gainer. 6.7% higher on the back of an encouraging earning. people are buying leggings. broadcom, one point 7% higher on the day, shaking off a lot of fears for those chip companies. emily: we are going to dig into chips later. thank you for that update. meantime, turning to streaming. netflix sets to launch its ad supported service later this year. ace -- at a significant premium compared to other platforms, as far as we know. the streaming giant intending to roll out this

now, let's talk about bitcoin.ht, you heard people on the very fine network say for a long time bitcoin was supposed to be an inflation hedge it hasn't played out that way. bitcoin falling below 19,000 today. the lowest level in three months is it higher rates is it something else kate rooney knows. and she's here to tell us. kate, what's going on. can. >> reporter: bitcoin was created to be gold not the case as cryptocurrency has become more mainstream, sitting in portfolios as the ultimate risk asset and getting sold off the hardest, as wall street flews some of the riskier, high growth trades and with rates going up, it's all about the safe havens, physical gold, treasuries the u.s. dollar, and bitcoin has been trading in the opposite direction of those bitcoin versus the u.s. dollar, there has been a strong inverse correlation with the dollar at multi-decade highs, bitcoin going in the opposite direction. analysts i'm talking to say global macro news is the only narrative right now that matters for crypto it is

you saw businesses blow up when bitcoin hit $20,000.f we saw things meltdown much further than they did, we saw nasdaq drop 30%, 40%, and bitcoin go down to $10,000 a token, i think it would be another round of pain and be a medium to long-term problem. david: did not give you any gray hair privacy. sam: a little bit. i pluck those out to keep up appearances. david: let me ask you this, when the bitcoin world was going down a bit, i think it peaked at $61,000 or something, now it's a t $23,000. it went as low as -- sam: $17,000, $18,000. david: a lot of other cryptocurrencies went down as well. you bailed out other companies, what money did you use to do that? sam: there are a few versions of it. one was the balance sheet, we keep our corporate cash dollars in. we raised a few billion dollars over the course of the last couple years and for a profitable business. we also have acquisitions, which balances that out. we had some cash that was on the balance sheet. david: wall street had problems early in the 20th century. mr. j.p. morgan h

bitcoin to a three-month lo and behold the bold car that bitcoin is far from bottoming >>> and later, ford warning on costs and inventories after the bell here. moderna's manic monday and a bullish call on a sector that has just been hammered this year i'm sarah eisen in for melissa lee. this is "fast money. with me tim seymour, karen finerman, steve grasso and brian kelly. maybe coming to grips that the fed is going to keep raising rates. stocks, after opening solidly in the red, finishing around session highs. it was a very strong final hour of trading the housing sector a snapshot of this delicate balancing act. rates keep rising, pushing mortgage rates to nearly 6.5%. but the home builders actually went higher today. key bank upgraded the sector, saying housing is due for a comeback after suffering mightily this year, and that history dating back to 1963 is the guide. so if housing can adjust to a higher rate environment, can the rest of the market as well the argument was interesting hello. >> welcome >> thank you very much >> it's good to be here. >> nice bangles reference. >> w

you have seen bitcoin rally a bit, but the real story is looking at crypto other than bitcoin and ethereum talk about etherium because we are getting closer to the merge. there seems to be a lot of optimism. what is your read on the impact? it will have? >> it has been our belief that ethereum would outperform. once we get through the next week and it goes through, it does work, a key flows. we have been much more excited about it. the bitcoin share of market has been stripped down 38%, and a ethereum is over the market cap of its kind. >> i would love to get your take on stablecoins in light of recent old moves by binance. they will switch it i think usdc will impact that into their own stablecoin. are we setting up for big competition among the exchanges in terms of their stablecoin products? >> definitely. central banks seem to be in this because with antiquated systems like a wire that takes hours, stablecoin is a faster way to get money around the world. in the future, private enterprises will be able to use this like coin boy -- coinbase and ftc. governments will get into this. franc

david: crypto came along relatively recently, bitcoin in 2009.ently, it has become a big phenomenon. do you think that you might get involved with that as well? sam: potentially ai. right now, we are at the stage of ai that is going to change over time. 10, 20 years from now, we may be having a very different conversation. david: i have not bought any cryptocurrencies, i have invested in companies that service the industry. suppose i said i wanted to buy some cryptocurrency. what would you recommend to me or anybody else? sam: i try not to give investment advice. the most effective and useful thing you can do is try everything out. pay $10, paid through every exchange get a first-hand , experience of block chain or blockchain explorer, doing trade, and that will teach you a lot about how the industry functions. i've been interested in a few areas of the space. i've been interested in scalable block chains, exchange platforms on the regulated side. and i'm super excited about the potential for blockchain based social media, to the extent there are

looking at bitcoin, down 1.4%.not affected by this in the sense that it's blockchain was the old way of doing things. mining remains the same here. the debate has altered in some ways. we have the merge. we have questions about opening as well. will it surpass bitcoin as the chief cryptocurrency? let's put that question to antoni trenchev. thank you for joining us at 4:46 in the morning there. will this change the game? antoni: it is a game changer in terms of software update. it is the most significant thing to have happened. to your question about the flipping where ethereum will become bigger than bitcoin, i do have my doubts. i'm incredibly bullish on both bitcoin and ethereum. i hold both for the long run, at least for 10 years from now. i do hope ethereum, i am super bullish around the efficiency that you guys pointed out. but anyone who is writing off bitcoin is too soon. david: ok. will this be a referendum? if the merge goes successfully, what does it mean for future proof of work? antoni: to me, these are

they will only ever be 21 million bitcoin. is specified in the original white paper and coded in the algorithm. without broad consent, it cannot be changed. not only that, the rate at which bitcoin approaches this cap is slashed in half every four years. more accurately, the reward paid to miners is cut. given that the rate at which blocks are mined is advanced. it is clear to see that freshly mined bitcoin into circulation at a diminishing rate. every supply cycle has been met with parabolic rallies. at the recent, prices rallied. emily: cryptocurrencies and blockchain technology have been pitched as an inevitable part of our future. are these tokens a safe bet for your retirement account? should we be putting bitcoin in our 401(k)? >> i think we should be watching seriously. i think of blockchain as an infrastructure technology almost like our freeway system and cryptocurrency as individual cars. as our population grows and our data needs become more complex, we're going to need a more robust infrastructure. that's where blo

bitcoin doesn't need jamie dimon.ey can make money off of it. number two, we don't need big banks as friends. we want to eclipse all the institutions maybe this is something we can agree on with elizabeth warren. jamie dimon speaks for the fed. people are pretty fed up with these are unelected people with so much power over the economy. this is really a banking cartel, right? they provided over massive booms and busts while supposedly stablizing the business cycles. instead they have decimated the middle class. people are fed up. he wouldn't be as rich as he is if there wasn't a ton of easy money flowing his way, to slurp from the monetary spigot. charles: i love all the points you made. creature project kill island, which is the federal reserve, if he thought through that we no longer have boom or bust cycles like in the 1800s, that the business cycle would be smooth. that is all we've had since then. feels like wall street gets richer and richer after every boom and bust cycle no matter what. right now you have bitc

this is why bitcoin was invented.s should we kick the can down the road before we lose credibility on a global stage and no country wants our treasuries anymore. people don't understand bitcoin's monetary policies and how bulletproof the technology is, but that's why it was invented in the last financial crisis. it's a path, alternative from the currencies testimony that has irresponsible monetary policy at the root of it. maria: what do you think is going on at a state level. gavin newsom vetoed the state's digital financial assets law, requiring crypto financial services to get a special license to operate. newsom called the bill premature and costly. we know there's back and forth had going on in washington in terms of where regulation goes next. >> yeah, well ultimately i think that was a win on a state level for the industry because opponents warned that bill was short sighted, was going to impose costly and unhelpful regulations, i think what's most important is what newsom said about it. he said we need a more

bitcoin is remaining below the key 20k support level. bitcoin getting a little bounce now.weighing on bitcoin >> it's definitely the u.s. dollar, sara, that's the big thing. crypto analysts have been watch it and a lot of the macro news in general, things like monetary policy but it's kind of ironic if you think about how bitcoin was created, this premise of being separate from the banking system and decentralized when you've got global macro factors being the biggest drivers. things like the fed all weighing on risk assets, which bitcoin is an extreme example of, hit its high back in november. the only outlier we've seen in crypto-specific news that's moved markets this year has been the bankruptcies and liquidity issues and that was really to the downside and hit investor sentiment. if you take a look at the dollar versus bitcoin in the past year or so, around may you saw inverse correlation get a lot stronger the past month or so it's been almost a perfect negative correlation. so minus 8, a perfect inverse so it's a perfect indicator of what's going to happen with bit b

for, bitcoin was for essentially everything.e are important projects and we have seen bitcoin rally a bit but the real story is the project other than bitcoin. >> let's talk about ethereum. we are getting closer and closer. it dan: seems like dan: there's a lot of height, a lot of optimism. what is your read on the impact it will have? -- dan: once we get next weekend it goes through, god willing, it does work. we have been much more excited in the last month or two. we have seen bitcoin's share the market, drifting down 38%. ethereum is a bit more than half the total market cap of bitcoin. >> i would love to get your take on stablecoins in light of recent big, bold moves. they are going to automatically switch. into their own stablecoin. are we setting up for big competition on the exchanges in terms of their stable products? dan: definitely, even with governments. central banks need to be into this because with antiquated systems like fed wire, stablecoins get money around the world. in the future, finance will use a stablecoi

let me ask you about bitcoin. bitcoin has really held pretty good, right?nk, hold on, this is the wrong chart. bitcoin should be around 19,000. anyway, bitcoin has held really tough around 19,000. forming what you would call a descending training gel. on one hand you marvel and applaud it held, other than hand if it breaks through there the other end of that triangle it makes a big move. what move would it be to the downside? >> i say a move to 11,000. i think it is vulnerable here. on necessarily risk-on assets we talk about bitcoin or tech stocks or arc or biotech, bitcoin had one of the worst bounces from a technical perspective. yes you rally from 18,000 to 24, a big percentage who have but from a technical perspective bitcoin pretty weak over the last few months and i do expect this to break. charles: commodities erupted. part of the whole inflationary thing. now they have come down a whole lot. now they're really breaking down. they have broken some key support. can this commodities, can they continue to come down particularlily because everyone's hop

very focused on bitcoin.oing everything you need to connect the ecosystem no one else is there with the vision. that's a worry too distracted right now and causing lack of innovation or too slow innovation. product launches not as fast everything that can accumulate to slower than expected growth that's our call today. >> now, the stock already, just about down 80% off its record high not an earning sport where do you think the stock should get to? >> i mean, bears of the bears think go down to 30. we have $57 price target above where it's traded. the economy -- by the way, really important none of our call is based on the economy. the economy actually takes it, turns it south, and that consumer is going to weaken dramatically even more down side in a weaker economy, because of the low-end consumer spending power. >> yeah. fair point mostly, i guess, about kind of crowded payments that they pay thanks appreciate the time. >>> let's get another checken ot market with the s&p tracking for third down day in a ro

. >> i am looking at bitcoin trading around 19,000 u.s.ollars, between 19,000, 19,200 and more narrow range than the volatility of recent sessions. what is the story with it/ >> bitcoin has been making a run for, up 1%, has been up as much as 2%. on a day we have the s&p 500 down 1%, you do see bitcoin and crypto broadly bucking the trend. typically those two assets trade hand-in-hand. at this point there's been so much pain in the crypto space, bitcoin is the largest point out there, down over 50% year-to-date. i think a lot of leverage has been flushed out the market. the marginal seller is already gone. >> what is katie looking for this week? >> i am trying to make it to the weekend. it will be interesting to see what the bond market and the currency market does here. the see the stress from those two asset you have to be wondering how much pain there is in stocks. >> thank you to bloomberg katie, amazon's prime day, they are offering a two day early access sale ahead of the holiday season. the first time has done two prime day events i

i just want to get your view on bitcoin. between bitcoin and equity, to particularly tech stocks, has been growing closer. once again, that comes amid a more in certain backdrop of inflation, and one of the most important events in crypto history. how do you find that? are you still as bullish on bitcoin as you have been? >> yeah, i think one way to really understand the link between bitcoin intact is that they are both really plays on the innovation around financial services and products. whether you call it qualcomm. as capital availability is down, that is crypto. i think it is going to take some time for the supply benefits to show up, but i would say, again, crypto is holding up pretty well. we are talking about markets typically expecting bitcoin to have fallen further because nasdaq is a 27%. i think bitcoin is holding above its 2017 high, actually quite constructive. >> we are just looking at a chart, just below 19 k at the moment. thanks for being with us, talk to you again soon. >> still to come, looking to raise a

bitcoin lost 10% in the last two sessions.t is about the tightening in monetary stimulus around the world, the easy cash being gone and that is affecting crypto-currencies. not only crypto, but really risk assets. but there has been a lot of enthusiasm about the merge, the system transferring to proof-of-stake. we will continue to what the crypto firms that are pausing activity around that process. haidi: let's bring in our next guest, he says the merge provides arbitrage opportunities in the short-term. with us is the ceo of crypto investment firm satori research. it is much-hyped. how much of this is already priced into crypto asset prices, and what are these arbitrage opportunities that you are seeing? teong: thank you for having me on the shore this morning. there is a lot of opportunities for the market. the market is pricing in a successful marriage in a few hours. arbitrage opportunities in the market are dislocations between future markets, physical and other contracts including ethereum and etc. the last 48 hours have

on bitcoin and lost it. the important thing to remember about wayne and cryptocurrencies is -- bitcoin and cryptocurrencies is that they are not what you used to buy your coffee down at the wawa. it is a massively risky investment. to get your question, a lot of countries are looking at the idea of a digital currency that is backed by the government. instead of being bitcoin, which is backed by nobody, you would have a digital presentation of a dollar. this isn't exotic. people are using apple pay today . that is an example of electronic currency. this would be backed like the dollar bill in my pocket. the theory is that would give people more confidence, particularly at a time when all of these cryptocurrencies have been hugely volatile, would give them more confidence that it is a stable store of value. there is certainly not consensus the. there is a good -- consensus though. there is an argument, should the government do it or should the private sector do it? it does not have to be either or. we have dol

convinced him that now bitcoins are growing in price in a month.r them. but i understand this, a flight of fancy, the only thing i know about bitcoins. now what they are growing in price. good morning nastya hello mikhailovna join pies, help yourself i freaked out yesterday. good morning with pleasure. and i see that you have decided to revive the traditions of morning watered information. yes, what is it? well, at 9:00 the conclusion is something we don’t go. well, call him no, no, don't. what are you and vicky? there was an opportunity for everyone to drink tea in the morning. my sciatica suggests that this is the calm before the storm. so it will always be i can. yes, yes, i'm coming. this is my untouchable pie. let 's see this now let's turn it on and i'll find it. even the paint hasn't dried yet, it can't. allow me good morning natalya konstantinovna here is an order for your transfer. i should probably congratulate you. but i honestly feel like strangling you at the end of the year, boss. well, of course. honestly, i think maybe next year som

, by the hour, with bitcoin. quarter to date. we'll be watching all of that. its been a rough go for all of the names in these spaces. come back again, frank, thank you. >> thank you. liz: well, efforts to regulate crypto are underway. is the securities and exchange commission chief gary gensler going on a hiring spree ahead of the mid-terms and how should investors interpret that? charlie gasparino breaks it next plus, a wrap up of the trading week as the bears dig in their clues ahead of next week's federal reserve meeting. closing bell we're about 14 minutes away. dow is down 152. all right we're continuing to try and scratch our way back to the flatline. with my hectic life you'd think retirement would be the last thing on my mind. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. voya helps me feel like i've got it all under control. voya. well planned. well invested. well protected. your record label is taking off. but so is your sound engineer.

selloff taking wind out of sales of bitcoin. perry an boring, will weigh in on the resolve from cryptocurrency of late. i will give you my takeaway on this necessary pain that is not necessary and really at this point america, you're going to have a make a choice, push back or accept it. all that and so much more on "making money." ♪. charles: you know the word of the day is extreme. as a noun it is furthest from the center given point, it is the outermost. coming into the session all kinds of extremes, runaway inflation we found out was even worse. record drawdowns in emergency oil supplies. you think things are bad at the gas pumps now. record low fund manager but high exposure to cash. these are extreme conditions. investors were on tenterhooks before the cpi report was released a lot of big bets it would come in better than expected. a huge four-day runup. we have on massive precipice of five day run-up. the selloff reflects not only disappointment, but now we'll be pushed deeper into the abyss of the unknown that unfortunat

david, i don't know how much you follow bitcoin, but bitcoin seems to be another thing that the fed isick of >> yeah. we're going to talk a bit more about that >> you like that >> yeah. i like what? >> that the fed's sick of bitcoin. >> i don't know what the fed is sick of. >> just agree with me. >> i did read a lot, carl, this weekend about the merge, about the ethereum merge >> yes, yes. >> got a lot of play of course, the theme seemed to be, it's still not going to cure what's wrong with crypto, but it's obviously a good thing, certainly for energy use >> jim, to your larger point, the fed needs to drain more liquidity. clearly, 3,900 was pretty pivotal on friday. i think btig pointed out it's actually the level that's had the most volume over the last three years. but i assume now you're talking about revisiting june lows, right? >> i mean, we'll come near them. >> 5.5% away >> for a lot of stocks look, if we got to get three breaks, got to get the chinese to get away from a covid policy that is unnecessary, they have to take the moderna. we have to have the ukrainians drive out th

david: staying on bitcoin.ring historically, the only month of the year for bitcoin falling. the past five septembers have been bad. history is not on their side here. rishaad: let's have a look at the u.s. data due today. the fed is data dependent in totality. jobless claims. disappointing adp report. we are looking forward to friday. all the important nonfarm payroll rates. markets under pressure. a lot more on the way. ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. announcer: from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloom

what did he have to say recently about bitcoin?re looking at traditional financial world, bitcoin looks like a decentralized ponzi scheme. that's what jamie dimon told regulators and lawmakers. let's think about what crypto has done and what it looks like. we have inflation protected bonds of. why does that matter here? crypto has long been pitched as an inflation hedge. for the people that say that as an inflation hedge has fallen apart, so has vix. those are inflation protected bonds. that was a hedge fund favorite this year. you see both traditional finance and defi hitting a roadblock in terms of what crypto means for people. ed: we just had the merge. what is the next calendar event the crypto world looks forward to? >> you mentioned the merge and ethereum continues to be part of that outperformance in the next three months. to what extent does that filter into other assets? do we see that same love in other proven stake networks, solano? there are a lot of things happening in the community. we talked about it here on bloomber

bitcoin was up as much as 10% after hitting a three month low a couple days ago.s been particularly sensitive to the rising u.s. dollar in recent months. you can see that inverse correlation on the chart there really picking up in may or so and another factor this week, there's been a strong uptick in short liquidations, the past day or so, about $343 million worth of crypto shorts closed out their positions, the largest level in more than a month according to glassnode, coin glass data there, that sparks the jumps in prices. that may not be driving bitcoin's -- the venture arm of ftx, buying a 30% stake in sky bridge capital, after sky bridge gated some redemptions earlier this year as the prices of cryptocurrencies crashed, less than 8% of the if i rfirm's ass. $40 million of the roughly $50 million stake is going to go into sky bridge's balance sheet directly to buy more crypto. scaramucci told cnbc earlier it was already under way. adding to the growing empire, provided multiple bailouts to block fire and voyager, a personal stake in robinhood, telling "squawk

bitcoin reached the $19,300 level off of the gains. can see that in the crypto index, those of the losses we had in the u.s. stocks. what strategists say is happening in the market is that these long-term committed investors are starting to starting to bring in a portion of the market share. basically we will see these pele end up being the majority in the market and that bitcoin will actually fully decoupled from what we have seen in the u.s. stocks and that is trading in his own world. bitcoin is down around 50% on the year. they're saying the global adoption also slowing. shery: rising concerns about global recession, commodities also are on a downward ride. a key age for raw materials. new york traded oil futures are the lowest since the start of the year. su keenan joins us with the latest. the implications of king dollar and we are seeing it in commodities as well. >> the dollar is seen as a safe haven for many investors around the world. you have the fed rate hikes strengthening the dollar, that is bad news for commodities, part

looking at bitcoin, 19,793, still below that 20,000 mark.hat crypto investors have started to pull back on buying digital assets due to a more hawkish fed. the bank warned that crypto investors haven't priced in the possibility of a recession as more interest rate hikes are on the table at month's fed meeting. first on fox business is apple inch blockchain hedge -- [inaudible] great to have you here. >> nice to be here. cheryl: general comment what we're seeing with bitcoin sill below that $20,000 market. we've -- mark. have we kind of bottomed outsome. >> >> it's holding at that 20,000, but in general the big one, the avalanche, here yums and bitcoins, they're trading at a .8 correlation to the nasdaq. and a high growth tech company like snowflake. if you're going to take liquidity out of system, the whole space is going to be affected by that. cheryl: one of things we've always needed to kind of see with cryptocurrency in general, you've got to have banks behind you. even jamie dimon may be coming around a little bit. and then you also nee

bitcoin prices now currently 20,358 ether prices a hair above 1,600 per token, up about one quarter of%. now, around the world red arrows in asia overnight and europe has a rough early start going on let's send it out to our julianna tatelbaum standing by in our lunar newsroom with the latest good morning. >> hey, dom, good morning. as for asian trade, the invests are taking their trade from it the hong kong hdown 2.2%. the bank of japan could be preparing for currency intervention in china, the mainland, some resilience dropping just 0.8% so a more resilient performance than we saw elsewhere. as for europe, you're absolutely right. we got off to a rocky start, but a bit of a stabilization you've got the ftse over in italy. a bit of green for the spanish market as well the xetra dax down 0 fountain 2% we've been listening to ursula von der leyen who delivered the state of the union she said the european union will more aggressively tackle the european crisis including low cost electricity providers and asks for contributions from the fossil fuel producers who have been making huge gain