. >> stay there has we bring in brad garlinghouse for a first on cnbc interview glad to have you with is an interesting story i'm going to pick up where kate just left off, which is the idea that investors may have thought that in buying xrp, they were buying a security that gave them shares or some ownership in ripple why is that wrong on its face? >> well, first of all, tyler, thanks for having me i think this is an important issue and there has been confusion out there. ripple, as a company, we have shareholders we've raised capital from venture capitalists and even banks like standard charter is a shareholder. xrp is a separate thing altogether, a currency that trades in the marketplace and over $1 trillion in the currency has traded over the last eight years. the sec having watched this for many years taking the position now that is frankly i think incredible to take the position after eight years. >> there are a variety of crypt ycrypto currencies, and xrp and bitcoin and others is it something in the structure of your business that makes the sec concerned that there may be a se

is probably not what ripple ceo brad garlinghouse had in mind when i interviewed him just over a yearthe securities and exchange commission alleges the third largest cryptocurrency behind bitcoin is not a payment or token currency type of thing but rather, a security that hasn't followed s.e.c. regulations properly. xrp did get slammed in the wake of this suit. right now it's down about 34%. compared to yesterday, i mean, it's struggling certainly. meanwhile, bitcoin is up about 20% this month and 370% plus since its 2020 low of under $5,000 back in march. look at it now, $23,509. new adopters jumping on every day. billionaire mark cuban tweeting just a couple of hours ago that he would offer 25% off dallas mavericks gear, because he's the owner of the dallas mavs, if you buy with bitcoin. but perhaps the biggest rush involves the new app lolli. the site offers shopping rewards not in dollars, but in bitcoin. adidas, microsoft, sephora and ebay are among lolli's 1,000 plus merchant partners. alex adelman joins us now in a fox business exclusive. alex, what kind of jump in subscriber n