i heard brian brooks. he said canada is moving ahead of us, europe is moving ahead of us.think it was important to make that point that we don't want to fall behind. to me that is a good, valid point. as long as we regulate it properly. emily: mike mcglone, thanks for breaking the hearing down. coming up, landed labs goes public. we will talk to the ceo will marshall about his vision, and the future of the satellite imaging industry, next. and gamestop shares falling in extended trading. the company, widely regarded as the first meme stock, reported a third-quarter loss. investors are concerned about how the struggling retailer intends to reshape its operations and lure gamers back. this is bloomberg. ♪ emily: former tech executive meg whitman has a new role, and not in the corporate world. the former ceo of ebay's president biden's picked as u.s. ambassador to kenya. until earlier this year, she was chief executive of the media content app quibi. she also ran for governor of california. planet labs is now a spac. the company provides a daily data insights to the likes of

charles: i want to bring in ceo brian brooks, you are at the house with the hearing and i read the wordto regulate the industry would be preventing people from investing in crypto because you want them to avoid volatility and suggesting maybe only the rich should have access and when i read that, i said it seems to be one 100% opposite of what the crypto story is supposed to be about. tell us why this is the way to go. >> it's not the way to go, i was trying to give an example of what the current u.s. regime is all about. we have this rule in the united states called accredited investor rule, an exemption from securities laws and it allows rich people, people with a certain threshold of income to invest in ipo, unusual.offerings and other things which is where while that's generated so i was trying to say not that we should embrace that but recognize unless we have regulatory reforms soon, the only people who participate in web 3r rich people. charles: i understand. but same place, such technologies are in place and this technology, web free technology is regulated, is he right? should

but let's get to one of crypto's ceo's who is part of that capitol hill hearing, bit fury ceo brian brooksfrom the fact he mispronounced doge, doesn't what happened after congressman sherman used a made up coin support his case? i mean, somebody went and created a mongoose coin about which investors know very little and now they're piling in and it could be a complete fake. >> well, you know, mongoose coin might be a complete fake, liz, but my guess is that the crypto community was not being by congressman sherman. my guess is they were trying to make a point to him which is listen. we're actually building real value and if you think you can scare people away from this with that kind of talk you're probably wrong about that so i think this may have been an on purpose thing not a head thing. liz: but how is mongoose coin real money? and real value? >> well, you know, look. there are meme stocks and there are meme tokens and oftentimes things start out that way and turn into something more so you take dogecoin as an example, in its early days, is kind of like crypto if you member such thing

. >> brian brooks, meanwhile, he's the ceo of bit furry also a regulator himself.ed about a potential for user controlled decentralized internet he hints at big tech, as well. he talked about the existing internet that is largely controlled by five big companies. crypto execs are looking to get the point across here that it's a lot more than just bitcoin we're talking about. they mentioned web 3 and the next wave of the internet. so other topics including market structure and even mentioned gamestop and potential for settlement times to release their disclosures around those and house members are now focused on hacks and a lot of questions around consumer protection guys >> kate rooney, thank you. >>> speaking of crypto regulation, cnbc has been investigating a new dispute between coinbase and a large group of the exchanges own customers with millions of dollars, well once they're converted dollars at stake eaomn javers has that. >> organizen on facebook that they make them whole in the wake of an incident that happened in mid november investors put money into a st

charles: one industry insider, brian brooks, ceo of fifth theory, he said two ways to regulate the industrye sure the rich only have access to it, or introduce products like mutual funds. i think those ideas are sort of the antithesis makes this thing attractive to individual investors. you've been working on so what are your thoughts? >> i think the biggest thing in jeopardy the ability to own your own assets, self-custody. the idea, this is open source code. anyone with a internet connection can download the code and begin operating your own node. you have to find somebody to transact with. a lot of people do account based system, companies like coinbase or ftx were on the panel talking about exchanges where you buy digital assets. self-custody was one of the things. the panel said we can do a lot of surveillance apcallism. which can spy on the customers really well and report to the government. that soothed a lot of my colleagues con shunness. you shouldn't have to be a good spy to operate a business in america. individuals ought to own their own private property. fundamentally that will

among those is brian brooks. ceo of bitfury and joins us now.ery good to see you thank you for joining us i want to get to next week and what to expect there in a moment, but first and foremost, in light of markets broadly selling off and including crypto a big picture question is even as someone that's a big believer in the ability for decentralized finance to significantly disrupt the existing setup of the financial world is it possible with the levels of today to get a repeat of the end of the dotcom bubble, which is today microsoft clearly a massive long term winner and did trade below the pre-2001 peak for seven or eight years afterwards could that happen to cryptocurrencies from where we stand today? >> i would be shocked if that was the outcome here i was looking to see where bitcoin is 19,000 a year ago and now where we talk about panic it is 15,003,000. it will have some turbulence on the climb out and the direction of travel is up and expect it to continue as people adopt the network. >> weirdly i think the point you made is sort of so

brian brooks. >> thank you. it's terrific to see you again and i always find your questions extreme the perceptive. what i would say about that question is a lot of the price volatility of the clergy has to do with the early stage of the market and the thinly traded nature of asset compared to u.s. real estate global equities or anything like that. the message i would land to this committee with response is some of things that make u.s. equity and debt markets more stable and less volatile have to do with the fact there's a lot more price discovery in those areas. what i mean is in the u.s. we have regulated equity mutual funds. we have derivatives products and futures products that allow the free trading on a 24/7 basis that provides the market with forecasts of what's happening in the ecosystem. in the world of crypto the u.s. hasn't responded by developing those tools yet and so the result in a relatively new relatively thinly traded market is that one person unwinding the position can have a massive effect o

milestone for both crypto and members of congress, seeing companies like fdx, circle, coin base and brian brookssify as this market grows. i testified about five years ago when bitcoin was $400. now it's close to 50,000. so the market has shifted dramatically from about 8 billion five years ago to two and-a-half trillion. this is a real industry with real growth and the regulation represents the biggest opportunity and the biggest threat to crypto. and having thoughtful regulation and having guardrails is important but -- it also could put us back if we think back 20, 25 years ago, if we over-regulated the internet. we would have a very different outcome today. we have to think through the same thing when we look at crypto. maria: i understand that. i like everything you're saying. you didn't answer my question. the question was, how do you see the economy changing as a result of digital assets and the block chain? >> well, i think what we're going through right now in terms of crypto adoption and then the more macro picture of yield and right now investors are coming into bitcoin, ethereum, et

would speak at the rally that later descended into the capitol attack, while brian jack spoke with notably someone like mo brookstion in the rally. >> okay. and how do we know this? you just offered specifics that i would think would be among those from the national archives that the committee's trying to get their hands on because they involve donald trump certainly with regard to max miller on the 4th of january. so how do we know this, and do we expect either of these two to plead the 5th or to cooperate? >> so bennie thompson, the chairman of the select committee raised these instances of max miller and brian jack interacting with members of congress and trump in their system letters. it's not entirely clear how the committee got their information. you have to remember they've been specking to hundreds of witnesses. they've got thousands of documents from mark meadows. their making incremental progress, and they do have trove of documents now from other witnesses, testimony from other witnesses, so the way i understand and the way it's been described to me is pulling these strings from all directions, and it

kind of get into work story and i especially liked would brian broome did it, this is one of my favorite poems of all time by wendell and brooks, the pool players of the shovel and headed framing the parts of the book with the text of the poems which i thought was powerful and can you talk about how you use these conical framing devices to get into your stories and those that narrative drivers if that makes sense as a question and anybody can feel free to jump in. >> i think that chanda prescod-weinstein should go >> kim, i know you're still connected, i think you should jump in while you can. >> thank you i will have to probably sign up soon, so this is a good question. i don't know that i consciously while he didn't have a framework when i started this book because i had never done something like this before and i actually intended it to be far more kind of critical. then he ended up being an the first to analyze another country from a theoretical perspective but i couldn't quite do that, writer and a professor and i have some of those frameworks but when i got into it, i could not divorce or my experience of reading the boo

kind of get into work story and i especially liked would brian broome did it, this is one of my favorite poems of all time by wendell and brooks, the pool players of the shovel and headed framing the parts of the book with the text of the poems which i thought was powerful and can you talk about how you use these conical framing devices to get into your stories and those that narrative drivers if that makes sense as a question and anybody can feel free to jump in. >> i think that chanda prescod-weinstein should go >> kim, i know you're still connected, i think you should jump in while you can. >> thank you i will have to probably sign up soon, so this is a good question. i don't know that i consciously while he didn't have a framework when i started this book because i had never done something like this before and i actually intended it to be far more kind of critical. then he ended up being an the first to analyze another country from a theoretical perspective but i couldn't quite do that, writer and a professor and i have some of those frameworks but when i got into it, i could not divorce or my experience of reading the boo

harold brooks of noaa's severe storms laboratory says what people across the country have to worry about is more intense and heavy rainfall during future hurricanes and rain events, wolf. >> brian sergeant alan cash, who pulled several soldiers from a burning vehicle in iraq back in 2005. he died as a result hof his wounds. also army sergeant christopher solis who died after using his body as a shield in afghanistan. army sergeant earl plumlee was the only one at the ceremony honored for his actions in afghanistan in 2013. "erin burnett outfront" starts right now. >>> outfront next, biden's warning for the unvaccinated. it could be a winter of severe illness and death. cases and hospitalizations both exploding tonight. so just how bad will this get? >>> plus the january 6 committee issuing a subpoena to a retired colonel who was pushing a presentation on how to overturn the election. >>> and democrats turning on their own as frustration and anger mounts over senator joe manchin who is holding up biden's sweeping multi trillion sp

brian: okay. i would say this, too. trump came back and surprised me when he talked to brook and he said hey, do you know what?y pleased some healing. i'm glad he made that comment. i was surprised and i was surprised the president was magnanimous. and i was surprised the current president was magnanimous. buff he said you get credit for coming up with a vaccine. wow, i couldn't believe it. even though we all knew it so i owe you a dollar. i will give it to you little by little a quarter at a time. steve: okay. brian: meanwhile this straight ahead. philadelphia police making an arrest in a series of robberies including this one where a groom was held at gunpoint on his wedding night. can the city's district attorney seriously still deny that this is a crime crisis? steve: plus, a massive fire breaking out at the home of a former virginia governor. the up tense video from the scene come up on this wednesday "fox & friends." xfinity rewards are our way of thanking you just for being with us. enjoy rewards like sing family fun nights! rent sing for $1 then belt out all your favorite tunes from the movie with sing