you can do crooked things as easily with a crypto currency as with real money i see crypto currency as a tool you can use a hammer to repair the roof or build a kennel or to bash someone on the head. one selling point of crypto currencies has been the speed of transactions but payment times have slowed to about ten minutes because of the surging volume the computers involved need more time to process transfers i mean basically least in the infrastructure that these brought by investors now for them to make money just from the it's necessary as there is just shown they can charge charge your fees and these really what these need it to have the system work doesn't cannot cut these are teething problems there are ownership to have to address and solve these problems i'm not convinced cryptocurrency is are here to stay this technology is very new and i'm sure that the problems we have today will soon be solved. that. the dollar and the euro eventually be replaced by crypto currency. i don't think they will replace them a payment system should based on the quirin see really. or complies wit

you can do crooked things as easily with a crypto currency as with real money i see crypto currency as a tool you can use a hammer to repair the roof or build a candle or to bash someone on the head kind of all human. one selling point of crypto currency has been the speed of transactions but payment times have slowed to about ten minutes because of the surging volume the computers involved need more time to process transfers i mean basically just an infrastructure of these brought by investors now for them to make money some congestion needs necessary as there is just shown they can charge try your fees in these really what these need it to have the system work doesn't conduct these are teething problems there are only should have to address and solve these problems i'm convinced cryptocurrency is are here to stay this technology is very new and i'm sure that the problems we have today will soon be solved. but the dollar and the euro eventually be replaced by crypto currency. i don't think that will replace them a payment system should based on a core in c. really. or complies with th

thanks for being on for coming up today has there been a crypto currency bloodbath some say so and there is a story you should know about how prices have moved we'll talk about that and more coming up directly and following our discussion of those cashless crypto currencies r t correspondent manila chan joins us to take a look at how some businesses are rejecting care we'll show for you plus small stocks have done better than many of the large stocks the founder of the stock closed books on most joins us to see which smaller stocks have made major moves and time magazine has new owners who are they and what might they do with a prominent periodical conservative t.v. and radio commentator steve malzberg tells the story we're chock full of fact fun and a lot more first we had a few headlines. a potentially do. decisive round of brecht's the talks between the united kingdom and european leaders starts wednesday in salzburg austria the european union's lead negotiator michele bunn yeah they gave a nod to what he expected as a good cooperation between the e.u. and the u.k. his mild optimism h

i am form of money, known as crypto currency. iam in form of money, known as crypto currency.lia's queensland region, catching a flight from brisbane. this is the country's first crypto currency friendly airport. it is completely digital. all transactions log onto a block chain. everybody in the world can see your transaction so it is a lot more efficient and a more transparent. unlike traditional currencies, the digital variant isn't issued by banks or governments. it is about an increase of freedom, freedom of investment and freedom of transaction and freedom of money. so what are the advantages of paying for things by bitcoin any other digital currency? it is really safe and simple. there area it is really safe and simple. there are a lot of people with digital currencies and they don't know where to use them. hello, can i get a ta keaway to use them. hello, can i get a takeaway and medium flat white, please? and can i pay by litecoin please? and can i pay by litecoin please? i've never done this before, you've got to help me. some investors have made a lot of money specula

investors they could lose a lot more than a belt buckle on the crypto roller coaster ride that said a lot of folks look roller coasters and for more on this we're joined by jeffrey tucker the editorial director in mare american institute for economic research and nick spent the founder of the bitcoin center and y.c. thanks to both you're being with us eight nick what i know you just got in the chair appreciate you may make it let's start with you. we see things like these large clip crypto blocks being sold should that raise anyone's concerns about if markets are being pushed around or manipulated. by the way thanks for having me. i think that you know there's a lot of activity of someone selling something this must be someone buying it also . all these o.t.c. traders a legacy financial. institutional over the counter traders are getting into crypto once they hit twenty thousand dollars everyone started calling me and asking me where they can get crypto and where they can get because and things like that so the big block trades are occurring at a growing at a rapid pace every day ba

it's great question bart i think over the last couple months we've seen an emergence really of crypto funds globally what's been interesting is that obviously there's a lot of demand for institutional investors for because investing in the crypt a fund as you mentioned as a great way for them to get exposure but also learn about the ecosystem similar to a lot of institutional investors dealt with hedge funds private equity funds and venture capitals over the last couple of decades what some of the challenges we're actually seeing in practice when it comes to crypto funds are often very simple custody for example although there's a lot of people working on coming up with proper custody solutions for the funds that's one of the areas where this alleged gap and that is affecting a lot of a lot of institutional capital entering the space on really harsh lady and i can't tell you how pleased i am you have a you do like a tweet or something for sixty seconds that i was on so i owe you now that you came on and did this we appreciate you being here so much and that's a crypto leader for pete

this is remarkably similar to investing in bit koirn and other cryptos. in a letter the sec released in january, cryptos offered substantially less investor protections than traditional securities markets and there was greater opportunity for fraud and manipulation a separate alert from 2017 warned ico investors to be wary of guaranteed high returns and unlicensed sellers and this is exactly the language they used to warn against pot scams. the two found similar because they go to the very reason the sec exists in 1933, congress passed a law that securities act to protect investors because existing state laws back then were ineffective in protecting them against fraud. there really were people selling swamp land in florida back then. the following year, congress created the sec to do three thing, maintain fair and orderly and efficient markets, number one and facilitate capital formation and three, to put tech investors and given how many get-rich-quick schemes have pot and crypto investments and this is exactly what the sec should be doing back to you, m

for example crypto currencies. 0thers for example crypto currencies.nd mainstream, late things of blockchain or machine learning, which it uses that you can use today. tell us a bit about as releva nt use today. tell us a bit about as relevant uses. there is a rush distrust around crypto currencies. you do that is only a tiny part of what it is capable of achieving. exactly. if you want to use goods and services around the world, is often paper—based, which is prone to error, prone to losing paper, prone to breaking compliance. all of those things can be helped by financial technology. you can use optical character recognition to help us gain. you can make sure that things are obliging to standards and screening. you can see the services around the world and making sure that you have the working capital finance to support it. turkey has raised its interest rates to 34% in a new attempt to try and boost its currency. it is the biggestjump in resident over one's rule. —— president erdogan. it jumped resident over one's rule. —— president erdogan. itjumpe

they are trying out ways to deal with crypto currencies. it is not the end, but the hype has finished quite a bit in the past couple months already. christoph: bitcoin and other currencies under pressure. jens korte reporting from wall street. back to brent and some very dedicated activists. brent: we will take you to western germany, where there is a clash with environmental activists over the future of a forest. police moved to secure the forest ahead of its coming out next month, but environmentalists are starting with a color program of massive civil disobedience. it contains centuries-old beech and oaktree's and a protected species of bat. reporter: their mission is to cut down germany's most controversial woodland. the energy giant wants to clear the remaining timber to make way for open-cast coal mining. there is not much left of the forest. the next part of the operation is due in a few weeks time. but there is huge opposition. a few squatters began to protest six years ag. now more than 100 environmental activists are living here i

john: billionaire crypto currency investor now saying crypto currency prices have reached their bottomurrencies like bitcoin dropped since the start of the ye year. today, bitcoin is up about 1%. with me, the man who made his fortune in digital currency, galaxy digital capital management founder. michael, you were the first legitimate voice for crypto currency, the first billionaire hedge fund guy, the first institutional guy who made so much money that got into crypto currency. i got an interview where you first invested in bitcoin at $96. it's about $6500 today. what did you see then that other people didn't? >> call it luck. no. listen, what i looked at then, i thought here's a new technology which is very cool that answered a call and that was people were upset with the institutions of the world. they were upset with banks, they were upset with central banks. at that point, qe2 had started and you were printing money and people really thought there would be debasement of fiat currency and this was a new way of creating a digital store of value. what i liked about it at that point i

use of crypto currency the transparency and all those things that come with it so we think that we're taking like an intermediary step right so i know in the case of us these are in of a very difficult very popular crypto out there and many still don't know how to vote for a block producer like fish rock for example is one that stacey and max are involved with and what it was your thoughts on this in terms of. put in these terms you know steve jobs and wozniak or were a pair and was was kind of the tech guy and steve jobs has got a marketing guy you know i think he wrote a code of his life. so you know we lack a steve jobs and i look at the landscape and crypto for example there's a cruise featuring a debate with people that support bitcoin cas versus bitcoin for it they seem to be a complete one hundred eighty degrees or move from what's happening why this is an important industry they've lost it they've lost the plot what do you think about that statement i do i think there's a lot of people in the industry that aren't really thinking about how people are going to actually use botch

now for more let's bring in our man on wall street yes court against crypto currencies on nosediving give us some more background on what's going on. you know what one of the main reasons for this current crisis of cryptocurrency is comes from goldman sachs the u.s. bank actually decided to drop plans to start trading desk on crypto currencies and that really got those coins going south just within twenty four hours within two trading sessions so to speak coins were down by about twelve percent and. another crypto currency got hit even harder by about twenty percent just within twenty four hours so there were times when many said crypto currency is worth the next big thing in finance are they still saying that well the hype has already vanished quite a bit different look back pretty much a year ago because for example stood at about four thousand dollars apiece and then they went almost up to twenty thousand by christmas and then the high started to fade and now we are good six thousand dollars so the hype is to a certain degree over but that does not mean necessarily at the end of t

is a crypto corinne c crisis.nd it, if serial, an important crypto currency, that has been crashing, down 80% from its peak, rose a little yesterday but an enormous amount of fear and panic spreading through the crypto currency markets. the believers still believe, the sceptics say it will go to zero. he wrote to zero. rory, thanks so much. it's one of the most recognisable cars in the world — the volkswagen beetle. from its roots in nazi germany it became a symbol of the hippy era. but now the german carmaker has said it will stop making the vehicle next year, simonjones reports. beetle mania, it's one of the bestselling cars of all time, but now it's the end of an era. rolling back on the german motor show. now it's the end of an era. rolling back on the german motor showm was the dream of the despised dictator that came to symbolise the freewheeling 60s, finding fame with the disney film the love bug, capturing hearts with its funky design and cheap price. the distinct look insured its success but now as volksw

use of crypto currency the transparency and all those things that come with it so we think that we're taking like an intermediary step right so i know in the case of us these are in of a very difficult very popular crypto out there and many still don't know how to vote for a block producer like fish rock for example is one that stacey and max are involved with and what it will your thoughts on this in terms of. put in these terms you know steve jobs and wozniak or were a pair and was was kind of the tech guy and steve jobs got a marketing guy you know he wrote a code of his life. so you know we lack a steve jobs and i look at the landscape and crypto for example there's a how old is this company. about nine months so we started january and so when you say your finances are funded you're funded what's the headcount there well interestingly it's not that i we have about thirty people on the team they worry about project. everywhere everywhere so i mean here we have people in new york west coast london hong kong australia just to engage in any jurisdiction shopping in other words a lot o

so you know we lack a steve jobs and i look at the landscape and crypto for example there's a crew has featuring a debate with people that support bitcoin kaz versus bitcoin for it they seems to be a complete hundred eighty degrees removed from what's happening why this is an important industry they've lost it they've lost the plot what do you think about that statement i do i think there's a lot of people in the industry that aren't really thinking about how people are going to actually use botching rakes is what we talk about is most people don't understand the internet they don't know what's going on in the back and they're just logon to facebook and want to be on facebook you know they don't care about servers and switches and you know same thing no one's going to care about the block change people are not going to get educated on what are distributed you know ledger is you know mutable lead like they don't care they only care about what is it going to do what kind of apps are going to come out how's it going to impact their life are going to make things better you know hopefully w

leinil media what the future holds also i'll tell you about some breaking and curious crypto news out just about two different countries italy and and really india they're taking decisively different directions on crypto currencies were jam packed as usual so let's get right to a few have. china's warning that they are withdrawing from trade talks with the us plan for next week has become more than an idle threat even worse trade issues now seem in tango with geopolitical issues of war and peace on friday chinese trade diplomats scuttled the expected trade talks as promised over president trump's imposition of tariffs on an additional two hundred billion dollars worth of chinese exports to the u.s. a chinese foreign ministry spokesperson told reporters nothing the u.s. has done has given any impression of sincerity or goodwill the chinese foreign ministries top deputy has summoned u.s. trade and bastard terry branstad for a formal airing of grievances over u.s. sanctions not tariff but sanctions against china the u.s. sanction the chinese army and its director over weapons purchases f

today it's grown into europe's largest crypto currency exchange. customers can change heroes and dollars to buy because it and other critter currency. so we have in the region of a million in sales today both buying and selling the positives and withdrawals are even higher so that of course comes on top. but pure sales are work just over one million euros a day. while many crypto exchanges operates in grey areas or prohibited the german austrian team is setting the highest standards . they want everything to be as secure as a bank. we have and i'm trying to act this year we said from the outset that we were serious about this. that i sometimes feel transfers from euro's to bitcoin in vice versa i must not be anonymised to see it and we must have verification for each customer. this is exactly the same sort of verification that you have in europe today when you open a bank account online. customers can now pay via credit card or online banking. but even getting that fine has been a struggle. as the banks gave us zero support they avoided us like the

it's not i'm spending 90% of my time focusesed on crypto. i couldn't help myself because i saw the -- >> one last question before you go will you grace us with a forecast this time >> you know, i -- my lawyers told me i'm not allowed to give actual forecasts. >> they're not here. >> i do think bitcoin will be significantly higher by the end of the year. and i do think those levels i talked about are important. >> 8,800 is a key one. >> go through one, go through 6,800. >> do you think we'll hit a key level by the end of the year. >> i certainly do. >> one or two. >> i'd be disappointed if we don't hit one or two by the end of the year. >> 88 or 10 okay mike thank you so much for coming buy. >> thank you a ton. >> michael noevgts. >> he has to talk about the blazer is that. >> we could buy -- we did -- you see what he was we agree that's crypto what do you call it crypt of camo. >> this last couple days we had volatility, both here in the cannabis space. >> he is in the trefrms. >> log good, looking good. >> sorry dan. >> thanks again mike fo

the crypto crunch , digital currencies have taken -- the crypto crunch, digital currencies have taken hit. we ask where is the crypto roller coaster heading next. plus, a countdown to the next iphone refresh. we will preview wednesday's big launch. and, president trump expected to roll back methane protections, one of the most potent ses as theyga roll out clean power by 2025. cryptocurrencies has lo -- have trading hasand plunged nearly 80% in the same timeframe. some of the biggest exchanges are turning to unorthodox practices to boost productivity. here with us we have our guest in new york, the cohost of "what'd you miss?", joe weisenthal. joe, it is not just the value, it is the trading volume. is this the bottom? >> i have no idea if this was the autumn or not. with the price -- the bottom or not. with the price collapse, that causes a volume clash -- volume collapse. we saw a small round of layoffs last week at the popular crypto exchange. we are not seen that much more. we have not seen an exit is from the industry yet. if we were to look at past historical bubbles, we might e

crypto goes to congress.op executives from wall street vc and crypto firms met on capitol hill to discuss the future of cryptocurrency seema joins with us more on the story. >> that's right. cryptocurrency and the icos were a buzz today in washington warren davidson from ohio hosted a major round table with roughly 50 wall street representatives on capitol hill. topics included the regulation cryptocurrency token regulation and a bill planning to be presented to congress this fall attendees including big name venture capitalist abandresen horowitz, union square investors, crypto finance company circle, the nasdaq, fidelity, the key focus for the meeting included finding better ways to protect consumers from crypto fraud and regulate the currency more effectively. participants expressed frustration at what some felt was a lack of urgency, some worry that if the u.s. does not regulate soon innovation could flock to other countries in fact some executives raised questions over whether the s.e.c. was the right go

mesa faces up to two years in prison. >> one of many examples of crypto crimes.s part of cnbc's "bitcoin: boo or bust. >> cyber crime is not going away it's a $450 billion market today. bitcoins and crypto currency makes it harder to track the money trail. >> so it's easier to be a criminal and not get caught? >> exactly it's a cat and mouse game. i'm not sure 100% who the cat and who the mouse is. >> here to talk about what the fbi is doing to fight crypto criminals, crime section chief at the fbi managing investigations into the white collar crime both in the united states and around the world. wow, what a job, steve you're a busy guy. thanks for joining us. we appreciate it. >> happy to be here. thank you. >> i'm curious what percentage of time is now spent on crypto related crimes today versus, say, three years ago. >> we've seen an uptake in the complaints for cryp tochto curr in crimes. there's been an increase in complaints and cases we've opened. >> what's the biggest problem that the fbi faces at this point? what types of crimes we were outlining what's

mining equipment in twenty eight team once volatility hit the crypto the crypto market the orders for crypto money equipment dropped that hasn't deterred the company however as they have also announced their latest mining which they say will increase mining efficiency. and we now move to consider if it's too late to start investing given the two year rise in many markets here to give us the assistance of the director of options and trader specialist at simpler trading danielle shay danielle welcome we're so pleased to have you with us thank you so much for having me so i mean we've seen these markets go sort of gangbusters not everywhere but it in the us certainly in a lot of those in europe for the last couple of years but is now a time when a new investor could still get into the market and be safe not lose their shirts. absolutely i mean i think it's a great time to be an investor personally i'm more of a short term directional trader and it has been a glorious time to to be a trader in this market of course you know trading comes with a risk but as long as you're using discretiona

there is a catch—22 for a lot of crypto providers. we have over 1600 of these crypto currencies.coin. if you regulate that, surely they move to something else that is regulated. you cannot regulate the entire basket of crypto currencies. that's fair. what regulators are looking at is something that operates on the margins of financial markets and enters the mainstream and people are not sophisticated investors start taking a lot of people... like when taxi driver say to you, i am going long on bitcoin, that is when regulators get worried. you are right, you can't regulate all of them but is where they enter the mainstream, the regulator takes an interest in the consumer ‘s best interests. simon, you will be back shortly to talk through some paper stories. to stay with us. simon french, thank you. still to come — a look back on the business week with our business editor simonjack, who'll give us the latest update on brexit. you're with business live from bbc news. almost half the people who bought a leasehold house in the past decade had no idea what they were getting into, accord

so that is the favor of crypto currency. i have no use for crypto currency. and then to be hovering around $7000. i have a banged up volvo station wagon and if you offered me one bit coin bite me. because i am confused by those mathematical intricacies from thee block chain to underlie the currency. now i am confused about a lot of things. i am confused about women and i fly on airplanes all the time i have no idea how they take off or land. but i am looking at the internet and i think whose bright idea was it to make sure every idiot is in touch with every other idiot? >> [laughter] as far as i can tell it is an enormous hacking industry by a connected computer network. i fear that somehow crypto currency with the slide rules in the math club or a 15 -year-old is in his bedroom with the snickers wrappers logging on to make himself a billionaire. walgreens accepts crypto currency for acne cream. >> it is the route for libertarianism. but it probably isn't the antipsychotic medication. we worry about money and the medium of exchange to collapse our society. ba

i'm glad we brought up crypto with pot.een writing about this in business week on the parallels between previous bubbles and what we are seeing now. joe: i have a business week article that we will be talking about later on the comparison between cannabis and crypto. in the meantime, let's get back, specifically to the crypto chart. i have a chart on the terminal that looks at some momentum indicators for crypto if we can bring it up. maybe we don't have it. here he go. scarlet: ask and ye shall receive. the tom, when you look at big point chart, you have been while, on crypto for a we have hit this 6000 level numerous times. each time we bounced back, we keep having lower highs off of the bounce back's. chart oflook at the lower highs but the same floor, what do you see? tom: it looks like it is dying, right? just getting. a level thatl is is more important than we realize. have this year, when you 6000 break even for bitcoin mining, that level is a roughly one-times book and that is very good news. i think there is cataly

to work has now become the first local authority in the world to accept crypto currency. this is how it works you can go to a residence registration office register or d. register yourself purchase a few of the services and pay bitcoin it works wonderfully from mobile to mobile or as they say today from peer to peer. it's very fast and the transactions are secure so we aren't squandering any taxpayers' money you don't also be floating donnish till you get. this official pilot scheme has had a signal effect and transformed the alpine town into a blocked chain valley. what's it is now a hot spot on the global block tain seen miller wants to take things even further to ensure the thirty thousand inhabitant community keeps up with a digital ization avalanche. on its own. oh yes now we have a new project also a bit of a world first digital the identity. there are various different methods will be using the blocks and. this would mean personal data would no longer be stored on central government service in the future every citizen would manage his own digital id card safe from

details on the crypto world, next. this is bloomberg. ♪ ♪ caroline: regulators are circling around cryptocurrencies again. a federal judge ruled initial coin offerings fall under u.s. security source. the sec took action against two companies dealing with assets charging them with misrepresentation and acting without registration. let's bring in our bloomberg crypto reporter. -- which is a long time to have them come out and they have. >> this was the first time they had a criminal case in the u.s. federal court in which a judge ruled securities laws could apply to ipo's. had civil, is that the issue? >> this is the first criminal one. yes, that is the distinction. there was a case where a guy had to ipo's and he was arguing they were currencies and because they were, they were not securities. the judge set hold on, just because they are currencies and you think they are does not mean we think they are securities. what will happen next is it will go to a jury trial and they will decide the outcome. the judge set a reas

he's got the whole crypto universe, and the crypto craze about to come to a screeching halt we are live from the nasdaq marketsite in times square chor"ft neqwt mu me asmoy es "right after this. intelligence, edge-to-edge covering virtually every part of your business. so this won't happen. because you've made sure this sensor and this machine are integrated. atta, boy. & yes, some people assign genders to machines. & with edge-to-edge intelligence, you'll know your customers love this color, & don't love this one. never getting grape again. & you can adjust in near real time. & if someone tries to breach your firewall in london & you start to panic... don't. you've got allies on the outside, & security algorithms on the inside. & if it's jammed up here, & it's hot in here. & you know both those things, you can do this. & your flowers won't wilt. at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when her patient's blood pressure drops, she can share the information with... >>> welcome back to "fast money. reta

bank actually decided to drop plans to start a trading desk on crypto currencies and vendor really got those coins going south just within twenty four hours or so within two trading sessions so to speak were down by about twelve percent and. another group of currency got hit even harder by about twenty percent just within twenty four hours so there were times when many said cryptocurrency is rather next big thing in finance are they still saying that. well the high of paris already vanished quite a bit different look back pretty much a year ago because for example stood at about four thousand dollars apiece and then they went almost up to twenty thousand by christmas and then the hype started to fade and now we are good six thousand dollars so the hype is to a certain degree over but that does not mean necessarily at the end of two cryptocurrency some of the big changes here in the united states are also working and trying out ways how to deal with crypto currency and so it's not the end but certainly the hype is has vanished quite a bit in the past couple of months already but calling

and that is in the crypto space.t's bitcoin bitcoin is down another 6% we'll dig in more on this big drop in the cryptos coming up in a few minutes. first, we have to begin with a story that's got everybody talking today. the "new york times" publishing an anonymous op-ed titled "i'm part of the resistance inside the trump administration." the paper purports to be written by a senior white house official president trump on the attack last night calling the op-ed gutless and tweeting treason let's get to eamon javers live in washington with more on this story. >> good morning. it's an incredible development somebody who claims to be a senior administration official, not necessarily inside the white house, but inside the administration, penning an op-ed in the "new york times" absolutely blasting the president. critical of the president's leadership style, his personality, his capability for the office there's the headline says the anonymous author, the "new york times" saying they rarely publish a nameless op-ed, but

>> some people call me justin, some crypto kid. i tried to change my name, but the bureaucracy was a nightmare. >> that seems crazy. >> yes, i'm obsessed. >> right now we're mining cryptocurrency. >> in 2009 i came across the bitcoin scientific paper it was like wow. ♪ >> that's when i got a job working construction for the sole purpose of investing in bitcoin. ♪ >> unlike other bitcoin millionaires who cashed in their staggering returns for lambos and yachts, he keeps his paws off altogether. >> i sold all my stuff, moved into the most frugal living environment i could. >> a tree house? >> yes there's lots of hard surfaces to hit your head on you to be very gentle like a sloth. >> okay. so show me around. >> so here i have my kitchen area the living room. you can sit down if you care the library -- >> doesn't seem like a real easy way to live. why do you live like this? >> i'm not paying rent i can spend that money on bitcoin andeth theorem and other blockchain assets that i believe eventually will change the world. >> bitcoin and

over 30 businesses in this small beach community accept crypto.to rely entirely on my digital apps. so, looking in my wallet, i've got american dollars, i've got japanese yen, and i've got australian dollars. and even more annoying is these coins. what do you do with them when you get home? travelling with crypto, ijust have a couple of apps on my phone. so, i'm going to pay by cryptocurrency today. absolutely. i am going to pay by bitcoin. i'm going to pay in litecoin. in litecoin? ok, so i slide to send here... payment is relatively straightforward. i open an app, type in my pin, scan in the retailer's qr code, and we are done. it is even possible to add a tip and pay for a tip in cryptocurrency. who knew? but as with any emerging technology, there is the occasional hiccup. it is taking a while. it is. it always helps to charge your ipad. maybe it is a wi—fi issue? there we go. done. all right, you got it? yes, all approved, thank you very much. thank you. amazing, that was so fast. i feel kind of weird not having signed anything. tick, done. he

we ask where is the crypto roller coaster heading next. plus, a countdown to the next iphone refresh. we will preview wednesday's big launch. and, president trump expected to roll back methane protections, one of the most potent greenhouse gases just as california based on the challenge for 100% green power by 2045. to our top stories. 640 billion dollars, that is how much cryptocurrencies have lost in value since january. trading values have plummeted more than 80% in the same timeframe. the results, some of the guest cryptocurrency exchanges are turning to unorthodox practices to boost productivity. here with us we have our guest in new york, the cohost of bloomberg's "what'd you miss?", joe weisenthal. joe, i know this is something you follow very closely. it is not just the value, it is the trading volume. is this the bottom? joe: i have no idea if this was the autumn or not. pricetely, with the collapse that causes an interest collapse and causes the volume collapse and that is bad news for the exchanges. we saw a small round of layof

jason: let's talk about crypto.at broadly within bloomberg you are right in the middle of really covering that, putting together a team, figuring out all the different angles. as you look back, what were the key moments? >> if you go back to last year, i mean, what kills bubbles? it's always the massive increase in supply. there is all this money coming in and there is a finite number of assets to invest in. they just create more and more of bitcoin until there is not a bid for it anymore. that really hit a fever pitch last december. more and more coins listed on exchanges, not to say that broke the bubble but that is necessary to happen. the interesting thing this year has been if you had talked to the optimists last year they would say there was a lot of institutional money coming in. a lot of it has happened. institutions have set up crypto something or other. the money just has not been there. it will be interesting to see if either some of these things get pulled the plug on or if there is another wave of enthu

the price of it and other cryptos falling yesterday on a report that goldman sachs was shelving plans a crypto trading desk speaking at the tech crunch disrupt conference yesterday, foldman goldman's cfo knocked down that report saying there was never a timeline for any kind of effort. >> when we began talking about exploring digital assets, we knew since the beginning, which was always the case for us, that it would be an exploration evolving over time we have a commodities business we've been in the commodities markets for a long time. bitcoin, some think of it as a currency it has more properties as a commodity. >> let's talk more about the crypto space, currencies and what's happening with emerging markets with steven innis. thank you very much for joining us from singapore. we know it's getting on on a friday evening there what do you make of -- not a collapse, but with ether down 80% from its highs in december, it's hard to find other words that seem to fit what's going on? >> it's a bit of carnage out there on the street. it's driven on the back of the goldman sachs comments i