, so that is when people start learning about, oh wait, that is what blockchain's.t is how it should be. the technology should be in the background, not in people's faces. caroline: interesting. we only have one minute or so left. demographics, however using that expand? you hear the ultra-wealthy, art collectors, but is the younger generation educating themselves? what financial literacy around nft is growing? roham: the younger generation thinks that volatility and investing in a different way. gamestop and amc are evidence of that. it is almost a social movement. not just an analysis of spreadsheets and whatnot. so the younger generation sees it as a way to get closer to basketball and away way they never could before, but you see older folks that may be collected cards when they were young. now they have kids. the lack of transparency is too much to keep up with. top shot is easier. you show up, by from the source. you don't have to pay scalpers. if you don't like what you got, you can sell it instantly. you have both sides of the market. it is male-dominated fo

blockchain used the trade diamonds. trade diamonds as an actual commodity? that is what the bermuda-based diamond standard is looking to do. it is the first exchange traded, regulator approved fungible commodity, and it is offering futures contracts and hopefully an etf on the new york stock exchange. we turn to the founder and ceo of diamond standards. where to start? so much news, you are raising money, just coming off news about crypto, bit carbon, what does it do? >> bit carbon is a significant breakthrough in the world of cryptocurrencies. it is based on the first blockchain native commodity, the diamond standard point. that currency can be used just like it going, but has a real asset behind it and as such is basically macro hedged, that as a real asset, it is hedged against inflation. caroline: why do you need it traded on blockchain? cormac: to prove the commodity is fair and fungible, we need to store the profit on's of the date of the diamonds in a public format. caroline: what is interesting is that people us

nader: but cloud -- bit cloud is an apt build on the use of blockchain. one of over 100 apps and we started the fund to start funding even more applications to build on the blockchain because the future is thousands of developers with thousands of apps and feeds you can choose from, more competition and innovation rather than three companies that control everything. but back to your question, there are two disruptions, the first that taking what is a private monopoly and making it a open utility, but it the second disruption when you use the blockchain to access --you get access to features that are difficult to do. deso supports and fts and social tokens and what is currently a social tip called the diamond where if you like a post you can give a white, but to the right of the like button you can give anywhere from a penny to thousand dollars with a click. that is difficult on a -- if you are not building on a chain native backend like this. it's up -- it is a business model that instead of menopause and content like facebook, the content is open and cre

on the bi outside as this industry matures, especially around blockchain technology.many cases, blockchain provides better use cases for problems that exist, database software products. we are seeing this maturation and we will be participating. to us, it is just the software or digital market just became bigger, and is providing bigger opportunities for us. >> what does it look like in terms of the deals that we could see you do? companies you would avenue there --you would go after, biot models? >> first it is gross equity. late stage growth equity from this category is becoming feasible to investors. in the next two to five years, we will be right there, just like we were 20 years ago as one of the first software biot firms in the world. >> another area we have discussed is spacs. you did the tom of bravo spac earlier this year, now trading as a public company. the spac game has been solid by abuse of some participants, too much energy too quickly going into the space. when we talked before, you had hoped to do another spac. is that something that is in the works?

this according to blockchain development company consensus.omberg quicktake takes a look at what this means for art collectibles by taking us to the first edition of the digital art fair. in hong kong. ♪ >> meta-verse, nft, virtual reality. the first edition of digital art fair asia shows a new generation of artists. >> we are particularly interested in educating the new generation of art collectors, and even traditional art collectors into the new digital world. >> that fair features over 200 digital and nft artworks. images paying tribute to hong kong architecture. >> i feel like the digital art place is evolving. i think social media plays a huge part. we have the -- surreal hong kong. [indiscernible] they are doing light paintings with drones. they program the drones to do the shape around iconic hong kong buildings. in the photography section, we sell nft's on the screen. scan the qr code, pay with theory of him -- ethereum. >> on fungible tokens run on blockchain technology. unlike bitcoin, each can be a unique digital property. one nft

this according to blockchain development company consensus.uicktake's stella ko takes a look at what this means for the future of art collectibles by taking us to the first edition of the digital art fair asia, in hong kong. ♪ stella: meta-verse, nft, virtual reality. the first edition of digital art fair asia shows a new generation of artists. >> at the digital art fair, we are particularly interested in educating the new generation of art collectors, and even traditional art collectors to enter the new digital world. stella: the fair features over 200 digital and nft artworks. from a turkish artists metaverse nft collection, to images being tribute to the hong kong architecture. >> i feel like the digital art place is evolving. i think social media plays a huge part in society these days. instagram has grown way bigger. we have this photographer. he likes to elevate his art by using photoshop techniques. they are doing light paintings with drones. they have actually programmed the drones to the shape around iconic hong kong buildings, so in

if you take a step, blockchain is a relatively mary -- is a revolutionary technology.could flashback to the late 1990's and think about the internet back then, i remember dialing up on a modem, and now i can swipe my phone and have a package arrived at my door 25 years later. we are at the early days of this blockchain evolution. so today, invesco has expanded our offering. we launched two blockchain etf's , one that is brought investment in the whole ecosystem, the publicly traded companies building this world, and one that is more specific, which is really geared at the companies building the cryptocurrency part of the economy. there's many ways to access this new and emerging asset class, and we expect there to be a continual evolution of more products to allow clients more toys to access these markets. guy: at some point we are going to get deep into the world of crypto etf's. at some point, the regulators going to clear it. what happens to these products then? are these just place markers for when that happens? what happens to these kind of etf's when we get that

how does your traction on the blockchain compare with ethereum or polkadots?he is ethereum compatible and it is a way to basically become entry to ethereum. when there is a lot of activity and atheneum, avalanche can easily provide the same ecosystem and sometimes native applications in de-fi and and fts, but giving them speed and finality. instant finality and speeds are probably 100 times faster and most importantly, the cost is pennies versus sometimes hundreds of dollars for one simple transaction. emily: what if the entire ecosystem debts regulated? is that a concern? john: great question. in the short-term, it is. in my opinion, if you have clear definition and people understand what is backing stable coins and transparency, i cannot see how that won't create even more adoption. obviously, stable coins now is one of the largest components. i can tell you, -- i can tell you, from talking with people who use this, they feel sometimes hesitant because they don't realize what is underneath the collateral that supports these stable coins, so they gravitate to

>> so the blockchain technology i think has been critical to allowing, you know, the payments businesscircle and i think in addition to that, one of the businesses that we're building is the borrowing and lending of various digital currencies. yousef: what about regulations? that is going to come in. how do you think that is going to take shape? >> we need it. that is probably not the answer that you were expecting. circle now is very, very regulated. the prime regulation is 46 separate states and a few in bermuda. from the federal level we embrace regulation. we think it will be a positive for the crypto coin business. we embrace it and look forward to it. we made a couple of announcement recentfully circle that we are going to apply for a full reserve banking license which i think supports the fact that we would expect to be regulated in digital currency and also announced the portfolio behind usbc moving to cash and short-term treasuries. emphasizing a dollar is a dollar is a dollar is very important. yousef: thank you very much for making the time. that is bob diamond. tom? tom: a

technology we think there's a lot of future in blockchain technology crypto valuations, though, to met's a little bit, whether it's a bar of gold or a tulip, i'm not sure be prepared for volatility i don't think they've proven themselves as correlative assets of equities or bonds at this point. there's not enough trading history. but it's an interesting area that's growing, with respect to - >> i was going to say stock to flow is probably the way that those in the crypto space would say they are looking at the, quote/unquote, fundamentals. but i also want to note that your picks here are first republic bank, keycorp so it sounds like you do think that yields are going higher >> frankly, over the next several years, not to mention inflation risk the financials would be an area that we think will take advantage of this situation. and in that area the stocks you named, we all own them couple regional banks with first republic and key corp, first republic being a little more expensive, i'd buy it on a dip keycorp, midwest regional. all these have pricing power all of them can manage their

how about nfts and blockchain technology they're proving out the concepts before our eyes.arket, but beyond that let's go to games let's go to play-to-earn blockchain gaming, speaking of daily active users, over a million active users a day, an $8 billion company go to artists again, i will point over my shoulder the artist that rhymes with duck render, he is building out his most recent project which involves crystals like these, cost over $30 million. that's one single artist >> it is beautiful behind you. i can see the hand holding the crystal. it is moving and shimmering. if i own something like this in the metaverse, whose metaverse is that and where is facebook in all of this? >> this is the most fascinating question, right. this is a land grab right now. we have smaller metaverse companies trying to pave their way like decentralland, for example, a nice call out there >> light >> now you have those like facebook who see an opportunity, they see the writing on the wall, they see the billions of dollars, they see a way to own the digital assets in the form of nfts, now

emily: as blockchain gains ground, there are calls for regulation.don't have regulation -- we still don't know what regulation for crypto will look like. what do you think it will look like? >> we encourage regulators to think about the policy. we have built out a policy of regulatory teams to address these issues. we want to make sure is happening is that the rules of the road are clearly spelled out so entrepreneurs can follow them and so that policy makes sense. all of crypto are not identical compass of the rules should make sense for the parts of the sector they are meant to identify rather than being blanketed and not particularly tailored. emily: sam altman -- you have backed his idea to swap crypto for an eyeball scan. >> we can't comment on rumors. it is up to entrepreneurs to tell their stories when they are ready. we can say we are excited about the future of crypto and technology in general. we as a firm are particularly excited to back big ideas. this certainly sounds like a big idea. emily: arianna simpson. we appreciate you taking the

in china in some sense is rebalancing the cryptosystem and longer, that's a good thing for the blockchainstem. now china's influence is getting less and less. emily: edith yeung grace capital general partner. thank you so much. reducing your carbon footprint while using it service. it's all about fighting carbon chain. our tech reporter is with us next. that's coming up. this is bloomberg. ♪ emily: a new push by google to help you reduce your carbon footprint while using its services. of fighting climate change. i want to bring in our bloomberg tech reporter now. what does this mean in practice? can we search on google and be green? nico: google announced last week ways for consumers to be green by taking more environmentally friendly routes and flights. today at a conference in the bay area, it announced their corporate clients will be able to see how many carbon emissions they are using with their google cloud efforts as well as google flagging to customers if they have projects that are idle using a certain amount of carbon emissions so they can take those projects off-line and save th

i rarely mention this on -- which is xi jinping is using it for control because it's driven by blockchain which is a remarkable thing when you think about it. forever we work on double entry accounting and now we have blocked chain which is the first innovation in accounting in hundreds of years. with the blockchain as we know xi jinping and the communist party can track down every single transaction and use it to allocate credit or to penalize people. it may not be as you've pick what is lee used although they are way ahead of us on this and that raises an issue because they got 4% of the fda basket that i have an open their capital counts and i think it would be helpful if you explain to her listeners the importance of having an open capital account which the europeans have per the euro is the only liquid pool that is the alternative to the dollar in their central bank is more accommodative than ours. so i'm just curious what your views are on that in terms of the need of a capital account in china and whether that limits or maybe gives them an advantage. i'm not sure. your views on tha

hashes the technology through stocks which is the only smart contract that can happen at the bitcoin blockchainthe protocol calls for 30% of the mining reward to go into a digital wallet. we are not even at the 75 day part and its $16 million, so it is significantly more than the last time it was reported. what we are seeing is a community of people who want to invest in bitcoin through stoxx and miami coin and want to do it in a way that supports our mission of creating a miami that is here for everyone. emily: you have an election coming up on november second and you are best known for your efforts to bring crypto and big tech to south florida, but what about miami residents who may be hurt by tech and crypto jobs coming in? why should they vote for you? >> i don't think they are going to be hurt. obviously i think they're going to be helped. one of the things you mentioned as our economy that was driven often times by hospitality and construction, two of which are often times not high-paying jobs. part of what we want to do is differentiate our economy and provide high-paying jobs and better

when jpmorgan is pumping millions of dollars into cryptocurrency and blockchain that tells me there ison of potential ahead and a ton of upside potential. follow the money, charles. that is where it is at. charles: especially when it comes to wall street, i'm with you 1000%. they always say one thing and the fund is doing something different. 45 seconds, the market is a little rocky, are you making changes to your portfolio? >> the market is looking a lot more attractive than three weeks ago, 6% from all-time highs. the policies from washington are becoming much more reasonable than originally thought. spending bill was cut in half, meaning taxes don't have to rise as much. that is good for the stock market. i don't see any reason to sell stocks. there is no alternative with stocks especially because of inflation happening here. by the dip let it rip. charles: hashtag buy the dip, thanks, luke. my new investor revolution town known 9th, 2:00 p.m. eastern. send your questions, email them to us at foxnews.com. we'll have a live studio audience.com. if you're in the new york area. get in

it is comparable to ethereum you can build on top of it it's seep as sort of a competing blockchain networkdevelopers use but a good way to think about it, the way it was described to me as sort of similar to the browser wars in the ages of the early internet was it going to be netscape for explorer you are seeing a similar dynamic playing out with the blockchains, so a, car danault, algoran. competition there, but it is absolutely helping the price of some of the smaller cross examinations in this case it helps the price. >>> ahead on punch -- the list of top 100 financial advisers. we will focus on a group focused on sustainable and responsible investing. >>> and tillray has been struggling, it is more than 80% off its highs. comments from the ceo on the quarter next working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue when he retired after 47 year. now he's showing a new generation what recology is all about. as an employee-owned company, recology provides good-paying local jobs for san franciscans. we're proud to have built the city's

interesting is they said they would get into crypto full-scale but they are investing a lot in blockchain and potentially deify in terms of being the counterparty through someone else for these technologies. you still need to know who you are trading with what the message in which you get there is changing. taylor: really interesting. let's bring in one of those traders profiled in that piece, katy kaminski, chief research strategist and portfolio manager who has about $6.5 billion in assets under management. katy, a great profile to read, mainly because it is all about the quan. i am curious, start with away quan trading has really changed for you. we knew of the blue ups -- the blowup, and the pandemic that upends the industry again. what have you noticed is the biggest shift about the quan industry? katy: the most important thing is quan is a spectrum and these days, everything is influenced by quan. it used to be very much a niche part of our business, but after what we have seen in technology and all the data science, quan is in everything we do in finance. for me, that is a good and

want blockchain, vr, data storage and this california gold rush thing going on.s is kind of where the zoog and miami meet up in the middle east. this is where the metaverse is forming. you see the different trade zones. the government is receptive to crypto. they're encouraging metaverse. they have the first crypto thing going on at the dubai expo. there are a lot of metaverse companies and startups coming here. the environment is here for not just the creative aspect but creating nfts here in the middle east. dubai is one of the places to be if you get a chance to get out there. you see all activity across the board. charles: ray, to that point is our government too resistant? i'm a self-admitted ludite. i have got an excuse. our government feels like they're so inintimidated by these things, blockchain, crypto. all you hear about is regulations and eye recking walls. could we miss out on the biggest thing that will happen in the world over the next decade or two? >> i think we might but i think from the regulatory side, the good news they're not adding regulati

are going to tailor the regulation to the crypto industry and issues around settlements due to blockchainogy. there are some peculiarities specific to the crypto industry and this is something i'm waiting to see what reporting requirements are going to be, what technology requirements are going to be, but very much positive forward steps. shery: thank you for your insight into the crypto industry. this as we get breaking news out of japan -- we are getting export number rising 13% year on year for the month of september, coming in higher than analysts had expected. imports year on year, a gain of 38.6%, higher than analyst estimates. still, when it comes to the yearly trend, we see a bit of easing when it comes to the export numbers. we've seen double-digit growth in shipments in japan for the past six months. double digits but still slowing from the previous month. this leaving the trade deficit at ¥622 billion. adjusted, it would be 600 ¥24.8 billion. we've seen export starting to increase, the import bill higher given the rise in commodity prices. we are seeing more details when it com

michael: we built our blockchain that is created and maintained by ibm. the difference is we are not centralized we rely on third-party validator's validating transactions so we know that you sold at one price and i bought at that same rice. each token can be embedded with metadata where you can understand the material. alix: is a professional institutional trader. michael: we are focusing on accredited investors because they can understand the risk and the volatility. but ultimately we would like to democratize this and make it available to the retail user. alix: talking about the regulatory relationship, a lot of the exchanges are not in the u.s.. coinbase is the big one but what is your relationship? how do you want to be regulated? eckel: we want to be regulated. we were thinking -- michael: when we wanted to be regulated, we decided we wanted to be in the u.s. for the regulations because sophisticated investors feel comfort there is relation. alix: how is that going? michael: it is a very long and expensive process and is not very streamlined. we wor

we believe crypto and blockchain will play an important role, however making sure everything we do is making customers manage their cash flow and be able to feel success, but they are going to play an important role. emily: speaking of empowering individuals, there have been reports that employees were not happy because they were told the company was never going to sell, not given the same kind of equity that typical startups give out in silicon valley. how are you responding to this? cap you thought about any to resolve this? sasan: we have. one of the things where excited about is mailchimp employees just like all intuit employees can participate in our equity plan. as they do amazing work, they are able to participate. that is first and foremost. second of all, we put several hundred million dollars to the side for employees so on close, they can benefit from equity and receive equity over time just as any other intuit employee. we are very excited about that, it gives us an opportunity to engage in ways that will unleash potential. emily: we have seen an increasing outcry over wea

people don't have any problem with traditional securities going on to blockchain and settling that waytations around bitcoin and the dark arts that people worry about, how clean the coins are and that is why it has been a while for the sec to get comfortable with it. shery:shery: president and acting ceo. thank you for joining us today. let's get to su keenan. su: we start with china ever granted, which has asked for shares to resume trading in hong kong on tuesday after scrapping plans to sell its property management arm. the shares have been halted since october 4. the proposal to tell -- to sell a majority would have given the developer a major cash infusion as it faces impending debt payments. the u.k. and new zealand have agreed to a trade deal, which includes improved business travel arrangements and reduced tariffs on clothing, buses, ships and bulldozers. it is a symbolic and political boost for boris johnson. a government analysis yes -- analysis last year estimated such a deal would have a long-term impact on the british economy. rio tinto's new ceo is kickstarting the compan

. >> blockchain and using stable coins is something very interesting. >> we will be big players on theoutside as the industry matures. especially around watching technology. >> i'm fine if people want to train bitcoin and cryptocurrencies, but there should be full transparency. >> we are seeing saturation -- maturation. >> high-profile guests at the bloomberg global summit sharing their thoughts on fintech and cryptocurrency. our next guest joins us from new york. to your point, this chart is showing the premium over the s&p 500 is at the narrowest since 2018. where in this sector would you find good opportunities? >> some of the big tech companies are starting to look attractive. not universally, but the valuations of corrected. if you look at the tech sector broadly, the s&p 500 tech sector, we went from one multiple to another but we are still above the five-year average. a lot of these companies are still growing earnings 20 something percent. if you ask me for the sweet spot in tech that this is where we would be buying, i look to the semi conductor space. if you look at the valua

now we have this news, so i think it's really exciting time for bitcoin and blockchain.mily: thank you so much for joining us, lots to keep watching. the largest assembler of iphones, foxconn has revealed its first electric car. this is a milestone that could boost the companies credentials as a serious bidder for apple secretive car project. it's a concept they plan to bill rather than sell under its own brand. coming up, home security is getting higher tech. we will talk about that with a ceo, next. this is bloomberg. ♪ emily: connected on -- connected home technology is getting in higher and higher tech. drones for your home, that's one of the new ring products recently unveiled along with the home robot. but as the home and the world really ready for all of this? we'll talk more about this with the ring founder and ceo. great to have you with us. the always on home karma that flies through your home even when you are not there, talk about the motivation for that. is this something consumers really want and need? >> i think what they really want and need is the reason

they have already invested in blockchain companies.hese are a lot of themes in finance starting to converge, matt. matt: you spend a lot of your time in private equity, in hedge funds land, but even the plain vanilla banks have done really well this year. i think the kbw index is up 40% year-to-date, more than double, the s&p. these financials have really been some of the biggest gainers across markets this year. >> they certainly have here with the banks have been doing extraordinarily well. -- they certainly have. the banks have been doing extra never well. jp morgan, near its records. kkr, up 60%. blackstone up even more than that. you have to look at the banks, the loan exposure, the fact that they are intermediary and underwriting this activity, but private equity, as the key for capital allocation, and those tech firms, like paypal i watch almost every day relative to bank of america, given how much you are seeing some of this transactional activity also move out of the banking system into the technology universe. so being a fina

the wall street banks, was in fact one of the first to be investing heavily in r&d technology and blockchainhnology ultimately they're a client servicing business and their clients are demanding access to this new asset class >> so, if you looked across the different financial firms right now that are dipping their toes and, in some cases whole bodies, into cryptocurrencies, who would you say is the win ners and losers >> i have to say the financial industry players that are in deepest and emerging as the biggest winners are not actually the j.p. morgans or goldman sacks of the world but rather the start ups that have come into the space and disrupted it. they have not waited on j.p. morgan to enter the custody space. anchorage has been working on that for years and across exchanges, otc desks and so forth those are really the players i would focus on and i think that's true in terms of who's servicing venture capital players, who's servicing corporates and who's servicing even those clients that j.p. morgan and goldman sachs have had for a long time. the hedge funds and so forth entering cr

there is also a larger story of the blockchain network.for low fees. this can help in the future with disaster relief aid, missionaries around the world. so cryptocurrency is one part of it but the blockchain network is a technology that i think is going to revolutionize the way we do financial resources. stuart: my colleague sean duffy sitting next to me is nodding vigorously pastor. on the same page with this one, believe me. nod away, please. >> he is right. pastor, you have freedom loving americans who want the government to leave them alone and if whatever it is will bring them into your church, fit is crypto, bringing them closer to god and jesus christ, good for you making that available. stuart: sean duffy is usually in which is not in mississippi. >> thank you, i'm a packers fan. >> i knew i liked you. i knew i liked you. stuart: pastor, see you soon. time for a quick program note, please. new episode of our fox business prime show, it is called "american built." it airs tonight. i have a preview what is coming up for you. roll it

axios infinity coupled with blockchain's, there are real rewards for playing.ular korean show, squid game, you can experience the gut wrenching twist yourself on roadblocks. it is expanding into the meta-verse. a gaming ceo, it is great to have time with you. talk to us about the transition of 2d entertainment into 3d, ar. how much does this link the entertaining -- entertainment world and the gaming world? >> thank you for having me. i used to run marketing for thousands of retail locations around the world, and if i could fast-forward to the current person i am today, the message would be loud and clear. i think any brand out there, if you don't have a meta-verse play happening, you need to think about it. it is the one way you can connect to this young audience of gamers where they are with their passions and -- in an organic way and create a relationship around your brand, one that carries over from digital to physical. it is really the kind of modern ad model that is at play. caroline: if i'm playing squid games on roblox, you just made an acquisition in a

the mit group ceo, mit blockchain ceo. through the climbs and the falls. today a bit of a climb, not all but certainly principal players. what is behind the selloff, it is all about energy and all about concerns whether those prices go still higher and it is spilling over everywhere, isn't it? stay with us. ♪. and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors . . . .com this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. you're driving innovation. you're racing to the cloud. you need to do it securely. that's why palo alto networks developed prisma cloud - an integrated platform that secures your cloud environment end to end. used by the

dna sequencing is deflationary, robotics, blockchain is deflationary.aking the middlemen out of the equation, which will hurt companies who have not spent enough on innovation, but have leveraged up to satisfy short-term oriented shareholders who want their profits and dividends now. carol: this is what i remember from the first day in talking to you. you have become a celebrity fund manager. maybe an unlikely celebrity. how do you feel when someone says you are an unlikely celebrity? and they are tough on you, especially when the performance is not where it has been? cathie: i've dealt with this all my career, though it has usually been insight the firms. i mentioned odd duck. how does it feel when your own colleagues are looking at you like, what the heck are you doing? i am used to it. i enjoy pushback. it tells me we are not in a bubble. as a portfolio manager, i much prefer to be climbing a wall of worry. those are the strongest markets. i believe that when we rotate out of value, we will come back into innovation. carol: what do you say when peopl

what they don't have is the ability to keep up with the protocols and blockchain technology if they do way and. they also have a lot of cash to do that. what i think you're going to see is a gradual transformation of these traditional banks into more tech savvy firms via acquisition. a gradual transformation as these technologies become -- alix: we are going to leave it there. thank you so much. david trainer, new constructs ceo. appreciate that. coming up, finance minister bruno le maire wrapping up with reporters. he will be joining us next. this is bloomberg. ♪ ♪ guy: finance minister bruno le maire finishing in washington. he is there with annmarie hordern. over to you. annmarie: we are dodging acorns. this guy is certainly falling. i am joined by the finance minister. thank you for joining bloomberg. i want to start about the tone of your trip in washington, d.c. that comes after the dispute between paris and washington. you describe the u.s. as misbehaving. do you still feel the united states is misbehaving. minister le maire: i think that is what was done during the meetings was

and the blockchain, a laggard, up 2% on the week.ch rocket lab, that stock lifting off after a contract >>> after the break, 100 days since qualcomm's cristian know raymond where that stock goes from here. stay with us ♪ (whistle) ♪ paola needs a parachute. so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams around her. so they can deliver a great experience from anywhere. ♪ (whistle) ♪ >>> if you missed jim in the 9:00 a.m. hour this morning, you can still get his insight delivered every day straight to your inbox with cnbc new investing club you get kramer's takes on twitter, box and semi story out there. you want to know which is stock that is? join the club. go to cnbc investing club or take out your phone and scan the code on the screen dow is up. a lot more "tech check" straight ahead. [uplifting music playing] ♪ i had a dream that someday ♪ ♪ i would just fly, fly away ♪ paola needs a parachute. so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams aroun

it is not just fintech, but you also have cryptocurrencies and blockchain's been adopted at a fast ratelks like apollo and kkr, and other major credit providers to this economy. so, are the banks going to also invest in those technologies? tom: i would kill to talk to brian moynihan about this over a beverage of his choice. with moynihan it would be a narragansett logger beer. this is serious stuff. can they do what clay christiansen talked about? i am hugely skeptical. jonathan: this is one of the big questions to the industry. lisa: for they have the capacity to do it -- they certainly have the cash. have investors been rewarding banks were making investors that are risky, but looking forward? shonali: at the end of the days -- day, these are constrained. we have had a run-up in their stock price, but not as much as the fintech, by and large, and not as much as their private capital appears. you are seeing huge diversions when it comes to the way capital market function today. jonathan: sit taipei the numbers are moments away. we will get the thoughts of kenley on later. -- ken leon l

any progress they are making on the new businesses, which are really cloud and ai, blockchain, that sort of thing, that's what we are focusing on for the quarter. they bought red hat two years ago and that business has been on fire. they grew 17% last quarter alone at red hat i expect that momentum to continue but this is the focal point, for sure they also spun out their infrastructure outsourcing business why this is important is because it has been a drag on sales by 100 to 150 basis points. i think that will be good news that's november 3rd, the official spin. of course in general commentary about enterprise send can the recovery we heard from salesforce, from workday, cisco, all starting to see a recovery i expect ibm to benefit as well. it is not expensive. it is 13.5 times earnings and you get a 4.5% dividend yield while you wait for the restructuring. >> what did you think about what jim chain owes just revealed on the "halftime report" that he is short bip and questioning their financials >> well, i can't speak to what he's coming out with regards to being short it, but i would

so i love the etf, but i really like out of those two i mentioned, i really like riot blockchain. i really think that, again, we can't look at pe ratio on stocks like those, but you look at a stock like that, and there's a lot more upside than there is, you know, possibility to the downside. liz: riot's pe is lower than nvidia's at the moment. we're just trying to let you in on what traders think, depending with on one of the important varying met rakes, the price -- metrics, the price to earnings ratio. >>> gotta look at tesla. if we look at an intraday, crossing the trillion dollar market cap level monday for the first time ever. so far today shares hit a new record price are of $1,094, then they turned negative, and now they're back up about 1% to $1,036. yesterday the stock soar ised more than 12% on news that hertz announced it has ordered 100,000 teslas to build out its rental fleet. the car rental agency itself rose about 10% yesterday, up another two-thirds of a percent this hour. aiming to reach a 20% electrification rate of its global fleet, and as it does that, its big

following suit, litecoin better by nearly 4% the crypto miners are also feeling the ripple effect, blockchainot all moving higher with a high of really leading the way here up 4.6% but not every name is looking rosie. ebay tumbling bias much as 9% after the e-commerce giant post ed a disappointing fourth quarter outlook in earnings after the bell yesterday. right now, it's still down about 7 1/3% and northrop grummon falling 8.6% we're getting very close to yeah , we're pretty much at the lows of the session, even as northrop revealed huge strides on its supersonic air breathing weapon, announcing it completed its very first successful test flight of the missile that flies five times the speed of sound. a mile a second? really? okay, northrop at the bottom of the s&p kind of crawling along at the moment. facebook ceo mark zuckerberg transformed the lives of million s around the globe with his social media platform but now, he's got a new vision, the metaverse. look at that. that's his avatar. what is the point of all of this what does it do? what are the great consequences and what are the un

ethererum is the second biggest blockchain, so very interesting stuff, we're going to keep followingviously people are interested. >> oh, it's huge for crypto. huge for the crypto market in particular, the implications are enormous. charlie thank you very much. well, the nasdaq is down, but our closer is going to tell us don't count out big tech just yet. that and more coming up on the "clayman countdown." our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement. . . i earn 3% cash back at drugstores with chase freedom unlimited. so i got cards for birthdays, holidays, graduations, i'm covered for everything. which reminds me, thank you for driving me to the drugstore. earn

quickly, how did you know, when did you see the crypto blockchain, know it would be this solution naryme on. i also appreciate the verbiage you used. you said ivory tower that is exactly what it was. when i first found out about bitcoin it was 2011. i had no idea what it was. i didn't think i was tech-savvy enough or smart enough to do anything in tech. then 2017 came around, end of 2017 i kept hearing about it a lot. i decided it was time for me to dump money in, see what happened. i was in a transition part of my life. once i actually bought bitcoin i started to dive down the rabbit hole to find out about what was really going on with the government, with the federal reserve, with spending, with money t forced me to educate myself. charles: uh-huh. well, jason, my man, first of all, welcome back. you have been on the show. in fact everything you predicted happened so far so tell me what happens next? >> i think there are some interesting things in our future. i'm going to focus on one thing in particular. we have the largest intergenerational wealth transfer in history going on right

you talked about the expiration, the trading plus two and the blockchain, threats, this whole new digitalmy is a sincere threat a legitimate threat to traditional wall street though, isn't it? >> it absolutely is. i just came back from filming a documentary down in hollywood about the new economy and we had dogecoin millionaire that was featured in the video, had a few cents in a bank account, maxed out credit cards, $2.8 million in dogecoins. he is not selling until he gets to 10 million. a guy lost all of his money in the robinhood gamestop fiasco. the bottom line of the movie, the reason i was in it, to actually create a reasonable voice in all of this, right? extreme speculation going on but there is still old guard, a old world, old idea being diversified that has merit these days. >> when you say extreme, is 100,000-dollar bitcoin, is that extreme? because i got to be honest with you, maybe you said a year ago, i would say okay but now looks very reasonable. looks like a pit stop? >> it does. i have a 100,000-dollar bitcoin mug here to wait for coffee. charles: maybe one day we'll p

a few blockchain companies, the thesis for bitcoin and the idea of inflation is even bigger in southuse of bitcoin seems to make more sense in some of those countries big challenge i am hearing now is competition you have the likes of soft bank moving in with a massive latin america fund there's a lot of dollars chasing some of the same deals i think in terms of the competition it has definitely heated up, and the return on capital may just be harder to find reasonable valuations one of the other things sequoia in particular pointed out, they said ten years ago they saw the same reasons to get into latin america, but they didn't see the founder ecosystem or entrepreneurs. but they're seeing now a lot of entrepreneurs leaving big tech companies to start their own they're looking at the success of the ecosystem and saying, instead of joining a google or silicon valley tech company, i want to go back to a place like colombia you are seeing more entrepreneurs going back and start their own companies and get their vc funding >> thank, kate rooney. >>> let's check on how the names dubbed n

just a few, including ethererum, the e ther crypto and bitcoin which is the crypto of the bitcoin blockchainu have here is a narrowing down of theoretical supply in a sense. the other stuff still trades but what's being sanctioned by the sec and you could trade these on exchanges, like coinbase, are a narrow band of cryptos and bitcoin is one of those and so is ethererum so the buying up of bitcoin is a technical move and people are saying the last time this happened was 85% held in storage was back in 2017, and then you had a wicked breakout. so now, again, look at the bear side. i'm giving you the bull side. i'm not saying this is going to happen. just it's one of the things out there, because i just don't want people saying charlie gasparino said i should buy bitcoin and i lost my house. i'm not saying that, you know what i'm saying? please, let me finish what i'm saying here. lauren: you seem more cautious than usual. charlie: because i don't give investment advice. i give sides of the story on the market and this is a pretty compelling story. this is called technical innocence when you