let's talk about coinbase. in the us, saw it shares slump 15% in after—hours trading coinbase announced it had 7.4 million active users during the period, which is a decline from the eight million it had in the second quarter. it's trading volume was also down 29% betweenjuly to september. joining me now is nigel green, who's the ceo and founder of devere group. lovely to see you again, nigel. took us through these latest numbers by coinbase. the markets gave them a bit of a hard time. your thoughts? markets gave them a bit of a hard time. yourthoughts? i’m hard time. your thoughts? i'm ve hard time. yourthoughts? i“n very disappointed to stop you saw the stock this week went up 10% breed previa announcement. you are seeing big expectations come in but disappointed, the profits are lower and as you said the number of users is lower so that is big. if you consider, they have 70 million people registered and only 7 million use the app, so extremely disappointing numbers. extremely disappointing numbere— extremely

we wrote about coinbase building the amazon aws of the crypto economy and i think what coinbase willtitors will be partners and they have hundreds of engineers you can't create them out of nowhere and firms clearly want to be in the space and have resoirss and don't have the technical expertise that coinbase built over a decade and that's worth a lot that i think is why they are a key player in the space for years to come. >> thank you for joining us. good to see you thank you. >> shares of ai lending platform upstart are plunging on innings. josh >> upstart falling hard. eps 60 cents better than expected 220.85 million on the top line f forecast is above estimates. back to you all. >> wow just the latest to do so with poshmark and others. thank you. >>> doordash shares are volatile after a larger than expected loss those results from an analyst saying the stock is overvalued and the ceo over aurora cannabis don't miss that interview coming up on "closing bell. ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to n

coinbase hasn't launched nft yet.ey have, they have 275 million signed up so far which is like 10x the current user of open c based on our estimates, if these pace continues it can add about 7% earnings to coinbase's bottom line in 2023 so it can be material. >> do you get any sense from the company whether they have calm things down with the s.e.c.? >> i think one key point -- i think it is also somehow underreported. coinbase's ceo mentioned that he had a meeting with the s.e.c. chair gary gensler last week after this twitter storm, coinbase published the asset policy proposal. for me it is hard to predict the reg l.a..er to outcome but this is a signal that the relationship has been improving. at the end of the day i see the path to get there. >> with the shares down 7% today. with the p/e high, but not insane, what do you think the valuation should be? >> i look at these on a revenue basis not on the p/e bases they trade at times revenue, trading a of the a discount compared the other fintech companies at 14 or 15

meaningfully coinbase says that has continued into early q4. the value of assets on the platform jumps to $255 billion more than half of that coming from institutional investors there is a call kicking off at 5:30 eastern we will bring you any headlines. >> thanks a lot. kate rooney. down 11% karen, what did you make >> the quarter was disappointing. they said we are going to have a lumpy revenue stream but revenue is up the start of the fourth quarter. i kind of believe them, it will be lumpy, but i think in the land grab they are in a really good spot. they deserve to be rich. they also had an improvement in sub strippings and services which is staking and some other things so i didn't think the quarter was that bad i think what happened was it was up maybe $100 in the three weeks prior to the announcement of the quarter. if they had announced a month ago, i think it would have been fine i think they are in an interesting position instead i own bitcoin though >> to invoke a term used by brian kelly, is this the sort of investment you put in a

really that is their bread and butter for coinbase.y of their money on trading revenue if there's any sort of diversification, if they have any other line items that add significantly to revenue, that could be huge. the other thing, you mentioned it in a tease, it is a long-term vision but it is why wall street has been bullish on coinbase, the bull case as the long-term vaccination. and meta, get into the metaverse. >> interesting take rate revenue mix and revenue contributors in general. matt, we just saw obviously robin hood not benefitting as much as people would have assumed by bitcoin, maybe in part because there was less trading in doge or whatever. what is the trade tonight? >> well, i think one of the things we have to think about is what is the year-end trade it is funny because, you know, one of the reasons coinbase had fallen off after its ipo was that, you know, it was badly timed in terms of the price of bit coin and ethereum and the other ones were all falling at the time therefore, the trading really slowed down. well,

what is your take on these coinbase numbers?rett: definitely a lot of -- a lot to unpack in the shareholder letter. coinbase as a business developed as a retail-focused business. they have 70 million users, 7 million monthly active users, and as we know, retail loves to trade crypto right now, but it is moving a lot, especially when it is moving up a lot. we have seen crypto volumes pick up on exchanges across the u.s. in the last several weeks as crypto has reached an all-time high. but early on in the quarter we were seeing general lower trading volumes, lower volatility, and that seems to have a huge effect on the amount that retail wants to actually transact. we are seeing a lot of mentions in the coinbase letter about how much their business is correlated with the volatility of the crypto market. ed: so coinbase is talking in the shareholder letter about how the company is a long-term investment. it doesn't want investors to pay attention quarter to quarter. but one of the things analysts caught on to was how use of the app

i also want to briefly touch on coinbase.s always so many headlines about coinbase, all kinds of stuff. they are softer 1.5% on wednesday. there is some mergers & acquisitions news, news that key democrats are taking interest in coinbase. they are asking difficult questions and writing letters to the executive. here is what i am looking at, adidas tweeting, saying that they have partnered with coinbase. but they also say, probably nothing. coinbase replies with the handshake emojis. bloomberg news asked each of these companies to comment and explain what they are talking about. they have not replied. i am sure this is something we will find out more about. this is where we have got to in the world of cryptocurrencies and traditional business. caroline: it is definitely ah-didas, though, let's face it. ed ludlow, thank you so much. meanwhile, cathie wood has chimed in and said china is not an investable. she says she sees a bit of an opening and she is waiting till the valuation test settles. she spoke with our bloomberg analy

those mining fees that you're starting to see when you try and buy certain crypto, on coinbase. closing bell ringing in 49 minutes, the dow and the nasdaq right now on pace for all-time record closes, you've gotta see what happens though, again, we've got 49 minutes left of the "clayman countdown" don't go away. (vo) this is more than just glass, walls, doors and carpeted floor. it's a place to change the world. loopnet. the most popular place to find a space. hi, i'm steve and i live in austin, texas. i work as a personal assistant to the owner of a large manufacturing firm. i've got anywhere from 10 to 50 projects going at any given time. i absolutely have to be sharp. let me tell ya, i was struggling with my memory. it was going downhill. my friend recommended that i try prevagen and over time, it made a very significant difference in my memory and in my cognitive ability. i started to feel a much better sense of well-being. prevagen. healthier brain. better life. hearing is important to living life to the fullest. that's why inside every miracle-ear store, you'll find a bett

we have coinbase, which i regard as being a suboptimal situation, unity, i liked last night, but peoplen't like the fact they bought the peter jackson business, which i kind of liked. we had toast which i thought was last night as fiasco >> you know, you're going through it fast, if you don't mind, can we slow down or are you making a broader point? >> my point is we've had a lot of merchandise come, so people are now saying, wow, i got very excited about, let's say toast -- >> let's talk about upstart, do you 21.5%, to the point we were making earlier moves in many stocks are extraordinary, either up or down, but i don't remember a period where we've seen so many plus 20% or down 20% days based on earnings. there is a miss there? it was a.i.? making better credit decisions >> heavy shorted they did talk about being a prisoner of spiko scores, which haven't done well. but here's the problems. >> they are growth companies to put it in perspective 28.6 million from operations at upstart. you're talking about, you know, coming in today, a company with a $25 billion market cap. >> people ca

when a card is swiped at the point of sale, it sends a message to coinbase.y look at the cardholder balance in crypto. they convert that crypto to an amount that converts to fiat currency. you can't spend crypto at the point of sale. we have created a gateway to make sure that happens. we are seeing great growth. i am a big believer in crypto and a great believer in blockchain. >> you also said that crypto is going to get regulated. when do you see that happening? >> regulation is good. regulation of crypto is good. you can see the conference around everything fintech. a lot of talk around crypto and blockchain. compliance and crypto for together really well. they draft off of that. we see a bright future in regards to crypto. also the centralized finance as we begin to grow the business there. there is a lot of growth there. you have clearly seen as dip our toes into cryptocurrency and blockchain. >> thank you so much for stopping by. coming up, a call to action. save the planet. we will speak with john about his new book, speed and scale. as we go to break,

. >>> let's turn to coinbase a different story there. weaker than expected revenue for the quarter and plus another decline in monthly users having a big impact on the stock this morning. those shares are down right now more than 3% here's our friend dan on "fast money" last night with some pretty harsh words on those results. >> i think this was a pretty bad quarter and it all comes down to the yield, the take rate, right. robinhood, robinhood, as well. robinhood is giving it away for free and coinbase is trading a lot of money to trade in and out and what you're seeing the pressure in crypto is coming in at a much faster pace than people were anticipating and i think that, to me, is the biggest out there. >> pricing pressure in crypto, pricing pressure in trading. deidre, what do you think is going to happen next >> well, with all due respect to dan dolev looking at a disappointing quarter and what we have been saying all along this is a long-term story. is coinbase going to be the go-to platform not just for crypto but nfts and furthe

from licensing, being able to offer coinbase it is a global phenomenon.from sentiment standpoint, it is risk on. i think as more people adopt crypto currency and believe it is here to stay, coinbasis a positive recipient of that sentiment. it can be a volatile name and volatile asset class, you can sell calls against it during times of volatility, and finally financials, last quarter coinbase did 2 billion in revenue, 1.6 in net income if you annualize that on track to do 6.4 billion net income, about 85, $86 billion market cap. the stock is cheap and has secular growth wanted to add before earnings. if you don't own it, wait until after earnings i was averaging into my position, i will probably buy more after the earnings call next week. >> i got you appreciate that. we look at that move today. >>> we're taking a break, do final trade, hit stocks hitting new highs as well that our committee members own. see you in two minutes ♪ feel stuck and need a loan? move to sofi and feel what it's like to get your money right. ♪ ♪ ♪ ♪ move to a sofi personal loan.

dagen: what else, what about coinbase?to everything else that is happening in crypto all alternative currencies for closure avenue lanch listed on coinbase no matter how you look at it traditional investor or a -- um or a crypto person you have to fall in love with 80%, margins 50% ebitda growth rates insane but you get exposure to all other parts of dedecentralized -- for my small cap high data play would like at company, stock exchange voyageer, a smaller company instead of 80 million registered users they have 2.3 up and coming look at apps in october recently, they have massive amounts of downloaded 90% plus year-over-year,, great you you downstairs, in fourth quarter great start for coinbase and voyage jump in. >> coinbase from 250 to 350 increased 40%, i supposeba i agreed that, today's numbers after-hours probably going to indicate a surge because we've seen with coincided with bitcoin ethereum what happens though, we have seen periodically talks of regulation some point going to embrace regulation cyberterrorism do

bitcoin is possibly to blame kate rooney joins me with the details and what it could mean for coinbaseson for square's revenue miss. analysts were also disappointed by slower growth in square's cash app bitcoin revenue coming in about $800 million shy of expectations the cfo telling reporters this was due to lower bitcoin prices and less volatility, therefore people trading less. she did show say seesing seeing a little bit of improvement from october as bitcoin prices rebounded to an all-time high. square's numbers echo with what we saw from robinhood last week. also missing on revenue with bitcoin dropping off as a percentage of revenue. robinhood saying less interest in alternate coins was a big reason for that. square and robinhood saying they are not planning to add any new coins to drive coat. scott dorsey saying he is staying with bitcoin coinbase, the largest crypt exchange reporting next week their bread and of the butter is crypto trading 95% of their total net revenue they have been looking to expand and diversify into other areas of crypto with an nft marketplace, perhaps.

. >>> plus ethereum hitting an all-time high as coinbase gets ready to report moowtorr after the bell we'll break down the trade when "fast money" returns as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. (swords clashing) -had enough? -no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. >>> welcome back to "fast money. rivian set to ipo this week at a valuation that could be as high as $65 billion shares expected to price tomorrow our next guest says that unlike other recent electric vehicle ipos, this time you should believe the hype the man behind the not boring newsletter joins us now, it's appropriately-named not boring, by the way welcome to the show. >> thanks for having me. >> this is a deep dive into rivian the more recent sort of ev companies that have gone public, most of them have gone public via spac this is a very, very different animal in terms of the hype, in terms of

when a card is swiped at the point-of-sale we send a message to coinbase.look at a cardholder's balance in crypto, then convert that crypto to an amount, fiat currency at the point-of-sale. we have created a gateway to make sure that happens, so we are seeing great growth there. i am a big believer in crypto, blockchain, we will see all that were to come. emily: you said matter-of-factly crypto is going to get regulated. what will be the impact on marq eta and markets across the world? >> regulation is good. regulation of crypto is good. i was just at the preeminent conference of everything fintech, a lot of talk around decentralized finance and crypto and blockchain, compliance, compliance and crypto fit together pretty well. that goes into a place of trust and verify. we see a bright future with regards to crypto, decentralized finance as we begin to grow the business. visa and mastercard have interconnected the world for companies that want to accept cards. there is a lot of growth there. emily: we will keep watching, david gardner, founder and ceo of ma

winners and losers across hardware and software finally the $20 billion crypto exchange taking on coinbase later this hour. >> john, one month into q4 officially 82% of s&p 500 companies that have reported so far have beat expectations for earnings on semis up 12% right now on some strong results after the bell with uber, roku, square, pinterest. dom chu has more key themes to watch here >> where has the momentum been over the course of the past month or so. and for the market overall, it's maybe been what you would expect for the s&p 500 at record highs that we just hit today, a lot of the movement has come in certain key sectors of the market, namely, in consumer discretionary and, of course, in energy we've seen oil prices going higher over the course of the last several months arguably since the last year since the pandemic lows. so, if you take a look at the sectors doing the best, it has been consumer discretionary. it has been energy the place that has been the biggest laggard is communication services and we've highlighted why that weakening momentum in social medium has been that

let's talk about coinbase.he crypt on trading platform reported a revenue miss with the trading volume from the second quarter and let's bring in bryn talkington who was with us the other day and she bought it high you bought it back in april. you bought more and urged our viewers to wait until after earnings if they were interested in the stock is today the day to buy it if you like it? >> well, i think it's important on the show as traders that we inject some of our guidelines on trading and so i urged everyone last week if you didn't have a position in it to wait until earnings because i don't ever buy a new position right before earnings because just look what happened last night the stock was trading down at, what? 311 and i think that's been pretty interesting is i bought it last week at 340, and i think i saw the last print at 341, so i would be a buyer here if i didn't own it and i think you have to understand these are still the early days of cryptocurrency and for the viewers that don't know, brian ar

coinbase blames market turbulence.t conditions improved meaningfully late in the quarter. ps mc says it will build a $7 billion fabrication plant -- tsmc says it will build a $7 billion fabrication plant in japan. the initial investment will be $2.1 billion, while sony will invest $500 million for a less than 20% stake. it has a support of the japanese government. rishaad: let's take a look at what is going on with one company, a gain maker despite some this is in terms of estimates. -- some misses in terms of estimates. we caught up with the ceo and asked why his outlook was more conservative than the street. >> we exceeded our outlook for q3 at the high-end of our guidance. we had strong performance in korea and china. we are gearing up for a big 2022. in 2022, we expect to have continued improvement in our core franchises in korea and china. we are launching several new games, three major catalysts in the new year. everyone is focused on q1 and the rest of 2022. >> how much pressure are you seeing from the regulator

but also take a look at coinbase that stock is still down 7%.r the quarter, the big thing for sofi and affirm, though, to watch today, can these fintech firms live up to the valuations and some of the future growth that's been priced in since these companies went public gmc, importantly, that gmv number excluding peloton how many times people are using affirm per year. and is it able to move to more of an everyday payments app versus just that big purchase? some of the more qualitative info we're looking for some of the partnership information with amazon and shopify, for example. over to sofi, the numbers on members of the app are huge. they've ramped up advertising. so some are wondering if that has paid off also the number of products per user and the galileo acquisition. analysts are watching growth in that segment also any updates on sofi's national bank charter application that could improve some satisfy the economics on the lending side back to you guys >> kate, thanks so much for that one. dan, what do you think's triggered this affirm s

why the difference >> i think there's a difference between coinbase's listing policy and robinhood part it to the crypto space. robinhood have fewer crypto assets coinbase, i thought did a pretty good job of quick to list sheva eno. and they capitalized on that down more than the street was expecting with the last quarter but not as bad as some of the more traditional players, like robinhood. i think coinbase has done a good job of listing a variety of as and positioning themselves where if there's a weakness, in terms of trading volume, there's another sectser they can taked a vantsage of. you're not so reliant on a few crypto currencies or a few products >> fascinating good stuff appreciate it very much. >> later this hour, "squawk on the street" heads to space quarterly results, satellite launches and ever increasing levels of space junk on the heels of the russian missile detonation yesterday that's coming up with the ceo of rocket labs. plus, walmart is on the move after results. and ceo doug mcmillen sat down with us last hour to talk supply chain bottle necks and walmart's respon

coming up, bitcoin soares and coinbase slumps. third-quarter results missed wall street estimates.

he has invested in more than 50 crypto companies, including coinbase. he is known for early investments and names you might recognize -- tesla, and tim: robin hood. tim:-- tim: it is great to be here, thank you. amanda: obviously you are a believer in crypto. you have made a broad portfolio of that's. what is -- of bets. what is the underpinning of that? is it this notion that fiat currencies will lose their place of dominance? what drives your eat those on crypto -- ethos on crypto? tim: i say bitcoin represents trust and freedom in a world that is starting to get less of both in the fiat world. fiat is less trusted because governments are just printing them willy-nilly to just build their own coffers. this is a great hedge against the inflation you were just talking about happening worldwide. for investors, i think holding onto bitcoin is probably a good place to be. there are only 21 million bitcoin out there, and they represent the freedom that allows us to use them anywhere. and the trust in that you are trusting in the software rather than trying

i'm i haven't bought anything in my coinbase account yet. i love buying dips on anything.. genevieve, we'll talk to you again real soon. >> thank you so much, charles. charles: of course, folks, love hearing from you whether you have a comment on the show, a question for me or the guest. tweet me: @cvpayne. in fact cheryl gave us a shoutout about the "snl" clip from yesterday's show tweeting, love the dan akroyd flash back inflation and watching larry kudlow laugh hysterically. i love larry' reaction. that was absolutely fantastic. next if this market doesn't have you in the christmas spirit, maybe the christmas spirit itself should you have the feeling. i have sean duffy and rachel campos duffy on about their new holiday book out today, including one from yours truly about christmas. ♪. i promise - as an independent advisor - to put the financial well-being of you 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

i put 100 grand in a coinbase account this week, and now i'm waiting.e suggestions. how should i -- i want something solid, you know, of course i'll get bitcoin, but what else should i do? is there something else other than squid game i should do on the high risk sidesome. >> yeah, sounds like you want high risk, so all of them. all of them except bitcoin. just bitcoin. [laughter] only put in the money you can't afford to lose in bitcoin. the rest, you know, speculate and gamble as you want. [laughter] charles: well, but ethereum is getting a real good reputation, and i think there was more traded on coinbase for the last two quarters now. what's up with that? >> you know, i think there are a lot of people that are speculating about ethereum, but we have an exciting upgrade coming to bitcoin which is going to unlock the potential of smart contracts which drives a lot of innovation on the blockchain. i think once again bitcoin's going to outcompete. charles: 100,000 has been tossed around, but now at 60,000 it doesn't seem like, yeah, okay. can we go muc

you can also buy stocks and publicly traded bitcoin mining companies or in the exchange of coinbase.re are even ets that invest in infrastructure at the pick and shovel approach. my attitude i like diversification, do a little bit all, be directionally correct and that way you will be precisely wrong. >> if you do on bitcoin can you explain the cold wallet, how that happened and where is the right place to store? >> when you buy bitcoin directly from an exchange your account is online and that means you're connected to the internet. hackers are connected to the internet to, they could steal your money if they managed to get a hold of your account, your password and et cetera. one way to protect yourself is to tell your exchange to move your money from a hot wallet, on the internet to a cold wallet storage, they take your account and move it to a flash drive and store in a vault not connected to the internet. >> this is ben livingston, can i get the exposure to bitcoin and other crypto's that i want from going from the crypto index or even like micro strategy. >> yes disclosure on an

there is the direct way, open up a wallet on coinbase. would own the bitcoin ethereum or alt coin directly in your name, you would hold it. what you alluded to, bito, which is a etf to buy in your brokerage account if you're more comfortable with that people don't want to go through the hassle of opening up wallet. or etf, it won't hold bitcoin but futures contracts. you don't actually hold the physical because the sec hasn't allowed that yet. charles: you would prefer the owning the physical, owning the coins rather than the digital coins, rather than the -- >> you know what? a lot of people be surprised i actually hold a etf. charles: really? >> up in canada we have etfs to hold the physical coin. i find it that much easier to hold the etf. that is what i do. the other question you're asking about. publicly-traded bitcoin companies and miners. those are very volatile. they can move to the upside, two, three, four times the price of bitcoin, conversely on the downside they can crash pretty aggressively. so i would stay away from that. ch

. >> we want to talk about a new purchase coinbase down 5% on the past 2 days is this your expressionok i'm not catching this early but down 8% yesterday i thought was an opportunity to get one of the best in class, the largest and most secure crypto exchanges and can't ignore the total addressable market 1.6 billion today and grows by 2026 that's a total lowball number and hard to ignore talking to real companies hard to ignore they 'em brasz crypto in general not just paypal, square and tesla. it's coke and expedia and many, many companies to embrace this and benefit the exchanges. the third quarter was terrible i don't know why that's a surprise to people because volumes in prices over the summer were horrific what that loss in translation is they raised numbers on monthly users. average daily volumes. average transactions per month and said average daily volumes 80% better than the third quarter so i would buy that and the best at what they do and the best in the business and i thought it was on sale yesterday. >> mike, the valuation of the name relative to other fintech plays not

coinbase and s.e.c. -- they are inquiring about things. the sec is looking at crypto companies.gulators around the world are doing that. crypto is becoming more important and regulators will look at what they see as something that might have some uses but can also be a real problem for retail investors when you have frauds and issues in the market. it is not too surprising that the sec is active in some of these places. tom: regulators are from china to the u.s. looking at this space. saudi arabia, russia and the uae saying opec-plus will continue raising opec output but cautiously. we had to abu dhabi next. this is bloomberg. ♪ >> what is the difference between a phase out and phase down? i don't know but for a large number of countries, during the process of transition, they will have to rely on whatever means of energy they have. i mean if suddenly someone could enhance the availability of petrol, diesel gas in the market, people would not have to use that. but it is not india alone. now, what often happens is it is a convenient play to take the focus off oil and gas and sudd

think about coinbase. morgan stanley at a stronghold of three of the top six ipo's on the u.s. exchange. that is a very big moment. morgan stanley, jp morgan and morgan sachs all on this ipo together. it is rare to have three giants on an ipo. if i look back at the last six ipo's of this scale, you do not have all three together like this. it is an amazing, rare story where you have massive players. matt: i just pulled up the league table, goldman sachs is comfortably at the top with 20% of the market share. jp morgan in second place, morgan stanley in third. i would love to see a lead table for exchanges. is there a difference between doing an ipo at the nasdaq compared to doing a knife yell at the new york stock exchange? -- doing an ipo at the new york stock exchange question mark joe: we are trading aftermarket. you are trading and nasdaq stock similar to a new york stock earlier in the day. even now, it used to be the new york stock exchange was two letters. they are all mixed up now. to me, they have -- matt: this ipo continues, or the trade continues to rise in price. th

emily: we saw coinbase and robinhood disappointing results.stock is soaring on the back of your report. what do you think is driving that optimism? >> a few things stick out. because we are building a one-stop shop for financial services products on your device. we benefit a low rate environment and a high rate environment. we also have benefits -- businesses that benefit from stay-at-home. we have been able to navigate. we had a record q2. the diversity that we delivered to our consumers translated into more diverse revenue base and there are customers that are missing because they are only in brokerage or lending or categories benefited from stay-at-home. because we are a one-stop shop, we have the breadth of businesses and three that can offset each other. continuity and consistency is really important and we are proud of the fact we delivered q3 and we still see strong women into q4 and guidance for accelerating revenue growth year-over-year. emily: talk about the future of crypto on the platform. how many more do you want to add and can y

over $110 billion in market cap in pure play crypto companies like coinbase and coinshares and that willnue as we see investors allocating across equity and debt. interest rate products in the space and the assets themselves so generally sentiment continues to remain very strong and still so much allocation that's being made, in the process of being made and firms are raising nine figure, ten figure dollar funds and it is an interests trend. >> joe, wanted your view on robinhood coming up earlier. what is your view there? >> you have to look at robinhood and suspect that there's something more going on here the bulls will point towards retail engagement wh the bulls point to the regulatory bills i think it is more of diversifying the business model, recurring revenue. that's what robinhood needs and i question at the executive level is there enough intellectual capital represented not from the technological side but the financial services industry to get them to diversify the business we all know it's a weak trading environment. interactive brokers surred the same weak trading figures so

stuart: let me get this right, please, coinbase. >> yeah.od news is we're trading close to 381 which was the peak right after their ipo earlier this year. the bad news is that sales went down in the summertime, and so did the number of monthly transactive user meaning the accounts each month, that number went down to 7.4 million in the summer. that's down from here to 9 million in the springtime. you see a slowdown quarter on quarter. but also remember coinbase already warned crypto trading would slow down because of falling bitcoin and crypto pricing. it looks like from what i see, this is really surprising, you have bitcoin account for a fifth of coinbase's trading volume. ethereum accounted for more than that, almost a quarter. so maybe ethereum might be the more popular trade. stuart: it shows you that the top two cryptos really dominate the crypto market almost entirely. >> correct. stuart: good tough. >> yeah. stuart: let's get to tesla. they lost, what, close to $200 billion in the last couple of days. looks like they have not yet sta

earnings from doordash and coinbase. the fed's neel kashkari will be speaking. u.s.gricultural supply demand forecast coming up. guy: talking about the short-term energy story, i know you're also excited about that. ppi today, the big number tomorrow. cpi looking forward to see what the data delivers. liquid treat is also out, we've been talking about through been ipo and talk about that as well. our producer nicole will be paying a great deal of attention. it is a surprising interest she has come level of interest is bewildering on a daily basis. tencent also out with numbers. dr. fauci will be joining david westin on balance of power. you will be joining bloomberg radio on the cable on dab. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while y

and the rollercoaster ride continues for coinbase, which sees its shares tumble after investors lose

you see some pressure on coinbase over activities. than the questions about whether you can get back to that record high we saw earlier in the week. down almost 2%. francine: let's also dig deeper into some of the sectors. it has been everything about energy and oil. the american department of energy and the international agencies. the u.s. is expecting these prices to come down. they are not releasing strategic reserves. energy, i think it is right behind me, it is in the green. banks also gaining 0.8%. some of the biggest movers on the consumer side of things, we have some movers, i'm sure we will talk about doordash later because it bought an $8 billion company. if you look at the overall s&p, we are seeing things that are gaining and losing, but not by much because the ranges either 0.4% lower or 0.5% higher. tom: allianz, the insurance provider and wealth management. gaining 0.7% with a beat on a number of the key metrics. credit agricole also did better than expected. the earnings of the trading unit were down by about 20%, but

coinbase tumbling with the crypto currency exchange set for the worst day on record.it hasn't been public that long but being hit by a 7% loss. third-quarter drops nearly 30% from the prior quarter that her revenues. crypto currency such a hot growth area for the first time ever crypto land in their own category at the consumer electronics show in las vegas this coming january. the ringmaster himself gary shapiro joins me next. exclusively on why he's rolling out to digital money and in fts and much more. a major announcement, he has not yet disclosed anywhere but he is about to reveal the big news on "the claman countdown" on the hottest consumer electronics. the closing bell ringing and 48 minutes. we will show you how crypto's are trading and get the headlines right after the break. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immedi

when we talk to the head of risk strategies at coinbase, one factor he pointed out for next year andecond have of next year will be the merge, so essentially the change in protocol in ethereum. that will be a big want to watch. the near term is actually taxes. the fact that people who have made a lot of money and crypto through year-end are probably going to have a tax bill to watch out for. guy: i guess what i am also trying to understand is as crypto does well, does that mean that the call buying in equities is well supported? if you remove one leg of the stool, does the other one become impacted? previously, there was definitely an impact in some of these stocks. crypto is doing relatively well at the moment. does that continue to support the meme stock buying, particularly on the call front? amy: on the retail side, i think that does make sense. if you are doing well, you are making money. you are a person who trades crypto. you are doing well. you have the ability to fund the retail call buying as well. but the larger story is there's also just more institutional adoption and cr

scott dorsey saying he is staying with bitcoin coinbase, the largest crypt exchange reporting next week their bread and of the butter is crypto trading 95% of their total net revenue they have been looking to expand and diversify into other areas of crypto with an nft marketplace, perhaps. >> yes, they have. that does it for "the exchange," everybody. "power lunch" begins right now >>> kelly, thank you very much welcome, everybody, to a busy "power lunch." i'll tyler mathisen. it has been a week of outsized moves for a number of stocks we are talking moves of 50, 70%, 90%. how big of a roll is the options market playing in these wild gains? and where could the action be coming from next. >>> plus, the great resignation. we've got an inside look at what areas are seeing this quitting phenomenon playing out, and what it means for the future of the jobs markets. >>> and the call heard round the world, and wall street former fda commissioner dr. scott gottlieb says we are entering the final phase of the pandemic we will look at what it could mean for your investments. >> hi, everybody two h

there is a different signal in there, as well not only does it own maybe what you would expect, coinbasestart, but also some like paypal and a stock that has gotten really hurt and zillow, as well. >> fascinating times also includes amc entertainment. that stock is up over 1,200% over the last 12 months. jan, thank you for joining us. >> thank you. >>> now federal court dismissing one part of a proposed class action lawsuit against robinhood and the company's role in january's gamestop frenzy. robinhood did not conspire to strict trading as meme stock surge. shares of the company are 50% off their highs and deutsche bank says sell now or that customer account will continue to drop in q4. we are back in two ♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit inde

>> coinbase looks like it wants to break out of its ipo day highs. >> steph >> diamondback energy. great quarter. higher prediction. $4 billion in free cash flow raised dividend third time this year. >> good to see everybody "the exchange" starts right now. >>> thank you, scott, and hi everybody. i'm kelly evans and here's what's ahead on "the exchange. vaccines for kids. the cdc's advisory panel is just hours away from voting to give pfizer's covid shot to kids ages 5 through 11 we will speak to pfizer ceo about that, and about the strong earnings that had thecompany shares up almost 5% today. >>> and inflation has eclipse covid as the number one threat to the economy, according to our latest cnbc survey digging how that and and inflation may be persistent, maybe not as bad as you think. revealing where we see opportunities. and cars in your home and a home-buying van. looking ahead to lift t-mobile results after the bell today in our earnings exchange. before that another day of record highs dom chu has numbers. >> poetic earnings exchange. like that a lot. tongue tied me up the

look at coinbase. i will throw out coinbase and the riots, the grayscale trust.d also i would say the bitcoin etf, futures etf helped shift momentum as well. will we get a spot price at some point? some say maybe next few months. with we could get a ethey are yum spot price. neil: nft, non-fungible token what is it exactly? think. reporter: think of it as a art. it is all about ownership. owner of a nft, verifiable ownership. people use this in faming, likes games, for instance the quid game token. have you heard of infiniti, have you heard of that? is 4 billion-dollar company. the plates are earned. neil: it is risky but you like isn't. >> i would say buyer beware out there. be careful what you're buying into. not all cryptocurrencies are made the same. bitcoin is more of a store of value. you could argue there are layers, technology behind the ethereum blockchain and solana as well. neil: seems like you're hedging your bets? you don't want to lead the viewers astray but you still saying there is something there? reporter: right. i'm saying not all cryptocurrenc

. >> coinbase.s the fundamentals and the technicals look strong >> i see that moving to the upside on the back of that earnings report. thank you so very much for joining us today a happy veterans day to all the men and women who have served this great country and, again, salute to our own jim lebenthal and digas wright "the exchange" is now. >>> welcome to "the exchange," everybody. i'm in for kelly evans here is what's ahead the heat is on, hot inflation numbers turning up the pressure on the fed and raising questions about the need and the speed of its taper. we will look at how far behind the curve they might be. >>> plus, it's no secret that auto prices has been soaring are there any signs things are improving? we will ask the ceo of car guru's.com following strong earnings and a stellar rally this year. and earnings exchange. we've got the action and the story and the trade on three key earnings

>> coinbase looks like it wants to break out of its ipo day highs. >> steph >> diamondback energy.ction. $4 billion in free cash flow raised dividend third time this year. >> good to see everybody "the exchange" starts right now. >>> thank you, scott, and hi everybody. i'm kelly evans and here's what's ahead on "the exchange. vaccines for kids. the cdc's advisory panel is just hours away from voting to give pfizer's covid shot to kids ages 5 through 11 we will speak to pfizer ceo about that, and about the strong earnings that had thecompany shares up almost 5% today. >>> and inflation has eclipse covid as the number one threat to the economy, according to our latest cnbc survey