crypto market due to regulatory concerns, jane street group and jump crypto. operations offshore. and today on capitol hill, a rare joint meeting of two house subcommittees, meeting to address rules and new laws. this just underscores the momentum for new legislation and a crackdown has intensified coming out of the meeting there were questions of whether the sec should work with the cftc in going after crypto issues. one house member asked, do we even need any rules at all? others argued laws are muted because there are too many gaps in the regulatory controls. back to you. haidi: stay with us. i want to bring in our next guest who thinks crypto has entered a new bull market but faces significant volatility and mounting regulatory pressures and challenges. we have the chief investment officer, matt hougan, joining us from boston. layering on top the fact that we have seen the bridges to traditional banking, silver gate, signature having collapsed, there's a lot of challenges before we get to the bull part of the market you are predicting. >> there absolutely

crypto is many things. crypto has commodities.e think there should be a robust, healthy market for that. there's also stablecoins and there is work with and fts. crypto's going to have a number of different regulators and is probably going to need new regulation to pass in the u.s. there is broad bipartisan support in congress without actually happening. >> can you see being gone from the u.s.? brian: we have a choice of where to invest are dollars that we are not going to leave the u.s. the good thing is there is rule of law and we do reach the right outcome eventually. ed: the coinbase ceo brian armstrong with manus cranny. caroline: let's stick to crypto a little more. you reference the binance situation and how it has restarted withdraws of bitcoin itself. the suspension and wait on the cryptocurrency and market, we can go to kailey leinz to discuss one of the new meme coins -- what's the original of the crypto seer, before we associate and fts and meme coins with a theory him. why are we associating it with bitcoin? >> you ca

that all cryptos are securities. industry. don't you agree with that? >> i think there is, there is a clear contingent of democrats, frankly aco contingent of republicans as well don't want to see legislation passed today but i don't -- >> who is on the republican side? i see democratic talking points specific taking aim at the crypto industry. i don't see republican talking points. republicans are this is innovation let the free market work here. you really think this is equal democrats and republicans? i guess that is political correct thing to say. give me evidence republicans are doing what democrats are doing particularly with anti-crypto talking points? >> no, i won't say it is equal by any stretch. i will say so far the message seems to have resonated with more republicans than democrats but there are plenty of democrats that see the transformative future of this technology, see that it is worth saving and frankly, see the consumers could be better protected. >> why are they so silent though? liz: they're not

do you -- does crypto make sense to you, on this level?e united states went off the gold standard under nixon i believe, that you know we're now a fiat currency. things are worth what they're worth because we say it's worth something. it's backed by the full faith and credit of the united states, whatever that particular phrase, that term of art might mine. is crypto, where i just create a widget that spits out a coin that i declare a value and that number of those sets a capitalization for all that crypto out and there people get invested that $20 million people say that's now worth $100 million, and it's all created out of nothing. does that make sense to you? there is no inherent value to the item itself? >> i have been pretty skeptical since the outset about what the value of crypto would be to the real economy. >> stephen: because the united states has a fiat currency, does the dollar make any more sense to you than crypto does? >> yes, the dollar makes a lot of sense to me. >> stephen: why? >> because it's a national currency that's

you invest behind crypto, we've got a. i believe crypto as well.e categories will fundamentally adopt ai. it is a great new capability. ed: psychologically and mechanically, is the timeline for exit different for nai company or ai adjacent company or a native ai company, and the type of exit? >> i would say yes and i think it is faster. companies i have invested in so far as an example, jasper and deepl, are two of the fastest-growing companies i've seen in 28 years. the rocket ships, the adoption, they solve a real problem for customers. they each have tens of thousands of paying business customers already. so i think we will see exits even faster. i think these are ipo worthy companies. the kind of exits will be the same. that i think they will be faster than we have seen in the past. caroline: you just mentioned crypto. we have seen not only a talk of a hype cycle but also talk of lack of regulation. how are you seeing around corners? you said the crystal borrow -- still ball is not as good as others but i think it is because your abc. what else

this is about -- a business model built on crypto. is it not? >> the vast majority is perfectly reasonable. >> general scott berrier, does the fact that ran somewhere gangs in russia and around the world are using crypto demand ransoms from american hospitals, schools, power stations and businesses, does that threaten our national security? >> i believe it does. >> appreciate your answers. think about what we are talking about. north korean nuclear weapons, irani and sanctions, russian ran somewhere, human trafficking, major threats to national security are facilitated by crypto. that is why senator marshall and i will reintroduce our bill to crack down on illicit crypto activity. it is not about sec regulation are cracking down on crypto investor scams although we need to do that. our bill is about law enforcement and national security and keeping country safe. thank you, mr. chairman. >> senator scott. >> thanks for being here. xi in the last 12 months has givenes, he's preparing the chinese population for war. what should we take from that? h

what stock has proposed the 1st global set of standards for regulating crypto assets? i also goes members include most of the will as market regulates as including the c . c in the us is recommendations. while i was there was a scandalous in the crypto industry and the collapse of the exchange f t. x is millions of clients. so i believe to have collectively lost billions of dollars. i also his recommendations as regulates, is around the world to co operate, to control companies with operations across the board as well. i've been speaking to the secretary general of all sky and mountain maloney. i asked him if the collapse of f t x could have been avoided. you know, in a well regulated environment, you shouldn't get outcomes like that. and it is quite notable the parts of the f t x, a business that was actually domesticated into united states and noted states and overseen by us regulators did not suffer from the kinds of problems that f t x itself a faced. and so, yes, in principle, you shouldn't be able to avoid that kind of experience, but only on the basis of very si

a kind of well come together to tackle rogue crypto traitors. we'll examine proposals for new global regulations and a new data center is causing a dilemma in no way with local factory saying that wouldn't be enough energy to go round a. there's a day to be a business on robots in berlin. welcome to the program. so as well in your it's making the confident, less attractive for business. so the answer is, not yet you, if it goes from jim and he's just outside for an investment health study last year, despite the 10th situation surrounding rushes, invasion of ukraine on the massive impact it had on germany's energy supply chains that were more than 25000000000 yours of investment in germany last year. that's according to jeremy trade and invest and that is considerably more funding 2021. as you can see here. but that difference is almost entirely accounted for by us to make it entails plans to invest over 17000000000 in german plans. the us is the leading country for direct investments and terminate with 279 projects in the pipeline in 2022. but y

crypto and crypto-related stocks are sinking on the session after the world's largest crypto exchange halted bitcoin withdrawals for i want to say about three hours today, after being temporarily halted for an hour last night as well. now, binance says that the halt was caused by a glut glut of tending transactions due to heavy volumes and surge in processing fees. not sure if some people are buying that but in the meantime, people were turning and asking questions later. bitcoin not only left the $30,000 level, it is now below 28,000. it is down seven-plus percent after breaching the 30,000 critical point back in april, and everybody was sort of rejoycing on that. now the last time bitcoin had been above 30,000 was june of 2022. between the regional banking crisis though, and the debt ceiling debacle that we appear to be barreling toward, where is crypto headed, because some of those things have actually helped people it higher. let's bring in bitcoin foundation chairman and an early, early investor in bitcoin, brock pierce. i first have to get your thought on binance. i don't know i

this is a business model built on crypto, is it not? >> yeah.i mean the vast majority i think over 90% is perfectly reasonable. >> okay. general berrier, does the fact ransomware gangs in russia and around the world are using crypto to demand ransom from american hospitals and schools and power stations and businesses, does that threaten our national sigar? >> i believe it does, senator, jesper io appreciate your interest. just to that what we're talkg about here. north korean nuclear weapons, iranian sanctions, russian ransomware, drug trafficking, human trafficking. some of the major threats to our national security are facilitated i crypto and that his wife senator roger marshall and i will soon reintroduce our built to crack down on illicit crypto activity. our bill is not about sec regulation or cracking down on crypto investor scams although i think we need to do that. our bill is about law enforcement and national security in keeping our country safe. thank you, mr. chairman. >> thank thank you, senator. senator scott please. >> thank you

a large number of people have lost money through under regulation of crypto.in a matter of weeks we will be publishing global recommendations and how crypto should be regular did. it takes time to get into the detail. but it can be done. but if it is the will of regulators to do it, now is the time. crypto is partly part just permanent part of the scene. jon: we appreciate you, martin joining us. even targeting stairs and retail, profit cornering. the company setting by its annual outlook even though softening sales trends could impact results in the short-term, consumers buying fewer discretionary goods such as home furnishings and electronics. we were talking about home depot and whether or not things get better at some point and maybe that gives, for the team at target, the belief they can hold the full year outlook for now. matt: interesting to see these outlooks coming from big-box stores. a concern not only about a slowdown in the number of people, the wallet of consumers coming through the doors. but as prices fall, home depot pointed out yesterday, as

this is a business model built on crypto is it not? >> yeah. the vast majority is perfectly reasonable. >> and the general berrier gangs in russia and around the world are using crypto to demand money from power stations and businesses. is that threaten our national security? >> i believe so senator yes. >> i appreciate your answers. just think about what we are talking about here. north korean nuclear weapons iranian sanctions russian ransomware drug trafficking, human trafficking. some of the major threats to our national security are facilitated by crypto and that is why senator marshall and i will soon reintroduce our bill to crackdown on illicit crypto activity. her bill is not about regulations are cracking down on crypto and gams although i think we need to do that. our bill is about law enforcement a national security to keep our country safe. thank you mr. chairman. >> thank you senator warren. >> thank you to both of you for being here. xi in last 12 months have given operated speeches that he's preparing the chinese population for wa

maria: really. >> are people loving interest in crypto. crypto is okay, banks not so much.first republic. >> 20087 -- 373 billion dollars, in tied up assets, we are getting started, business model is falling part when you give it a little bit of a push then you lose, these institutions like svb politicized get to globalized, get pushed in different innovativelies, crypto simply purnd. maria: we're about to get new regulations we think new regulations for the banks, is this the answer i mean joe biden just the other kasaid look we are going to make sure that we have tougher ruled for regionals tougher rules for smaller banks with you can you do a brushstroke rather, pardon me for all banks same regulation for global money centers than for regionals. >> you can't. >> what is going to happen too big to fail going to lead to bigger institutions we've seen in 2008, this is the rerun. i don't think anybody wants to watch it but, well elected same people, now dealing with same consequences, i mean if you ride an perture for global markets yufrngs, airngs moving on global regulator

there may be other indigestion for crypto. i'm saying that sarcastically. here is what we know from securities lawyers representing clients under the gun in the crypto industry. from what we understand gensler is what has been described as a second leg of enforcement actions this industry. described from these same lawyers. these are securities lawyers. a lot used to work at sec. you work at the sec. you then go into private practice. the word he is flogging that is the word i heard, flogging his staff to bring crypto cases along with the ftx debacle. he thinks he has good law. here is where he wants to bring the casings at least i understand from the read i'm getting. i'm only as good as my sources, this is what they're telling me. the read is they're looking at any case related to unregistered digital coins being sold that registered securities. that could mean both the sort of creators of the coin, the companies that are using it to finance whatever operations they have, like ripple, like the case against ripple which is ha

crypto dot com arena. just going absolutely crazy.23 points and 6 assists onto the 3rd lebron. the lob to ad for the slam 17 points and 20 rebounds for anthony davis. he was so good. this series 4th quarter, lebron on he goes for the layup. and the foul that extends the lead to 15, 30 points. 9 rebounds, 9 assists for lebron james as the lakers win one. 22 to 101, and golden state season comes to an end. well, our kron, 4 sports director jason dumas says live at crypto dot com arena where he got to see. >> i think the most adept nation did not want to see play out tonight. kind of surprising the way this one went down. jason, i think a lot of people are expected to be much closer. what were you thinking? >> yeah, okay. a lot of people are still processing this loss. not only does a nation but the player. draymond green literally said i'm still processing this. i'm not used to finishing my season in may in, you know, tonight is a night of firsts to steve kerr never has lost the western conference playoff series with the warriors up unt

chad gpt - this is a new crypto in the sense that the name of the most popular neural network is being used by attackers almost as actively as ever. they used everything related to cryptocurrencies, with such a statement, the cybersecurity division of mark zuckerberg corporation made such a statement, according to them, the hype around generative neural networks, in general and around the creation of open ai, in particular, led to the fact that it was under the brand. chad gpt most often began to hide all sorts of evil harms. the security guards even singled out 10 separate families of viruses that use the name of large neural network projects to disguise and penetrate users' devices, and more than a thousand links to resources infected in this way have already been removed from messages in the largest social network. the lavreds themselves. they are distributed under the guise of mobile applications or browser extensions that promise access to new neuroinstruments. interestingly, in some cases, infected programs really provide at least part of the gpt chat functionality, well , viruse

projects was generally banned, just because of the abundance of crypto-fraud.d now something like this can happen again with neural networks from domestic ones, too, sber has officially warned those who want to communicate with the russian analogue of pyatigorch that most of the proposals to do this are pure fraud of sber tractors. currently in closed testing mode , invitations are sent through one channel in the telegram. actually. we have a warning about scammers, but more than 220.000 people have subscribed to this channel who want to see how they work, but few have been lucky since the launch of the project in 10 days. only 400 invitations were issued to everyone else. wait and reject the invitation. in a few minutes, watch on our air the program maria kudryavtseva has a solution. and how to eliminate violations in the sale of medicines via the internet? how much growth does the online pharmacy business give, and what is the government doing to keep the market transparent and safe? sbermarket will deliver everything you need even outside the city online fro

>> yeah, it is a very comprehensive set of crypto regulations that have come through from the eu. for a couple of years now. essentially what they're trying to do is increase transparency in crypto trading and crack down on money laundering. and also one element i thought was interesting was require major crypto companies report how much energy they're using, also significant. it puts pressure on other jurisdictions like the u.k. and the u.s. to follow suit. and certainly there's been a lot of regulation on crypto after the failure of ftx. >> thank you as always. still ahead here on "way too early," governor ron desantis defends his six-week abortion ban. the florida leader has to say about donald trump's recent comments bashing the legislation and the latest on the race for the white house. we're right back. for the white house. we're right back with flonase, allergies don't have to be scary. spray flonase sensimist daily for non-drowsy, long lasting relief in a scent-free, gentle mist. (psst psst) flonase. all good. (tap, tap) listen, your deodorant just has to work. i use secre

a market flash on crypto it adopted the first legal framework for the rules of crypto regulation to require customers in the region they must comply with safeguards against money laundering look at crypto bitcoin down .30%. ethereum down .50% xrp down 1%. >>> moving on. today, the ceo of chatgpt heads to capitol hill to testify in a hearing. julia boorstin is here with the latest >> reporter: in the sub committee hearing on privacy technology and the law, we are sure to hear a number of concerns of a.i. beyond the fear of robots taking over the world. issues consumers being misled that it will perpetuate bias a.i. and technology such as facial recognition will sresult in privacy violations. rise of a.i. will increase the dominance of the tech giants and likely hear of how a.i. can drive job losses we are sure to hear concerns if a.i. is incorrectly regulated, american innovation could be stifled and china will win the a.i. race. senate majority leader chuck schumer has been working on a proposal for transparency and disclosures over a.i. is trained and responses generated. his framework req

so much in the world of crypto. so much in crypto more broadly. airbnb shares are volatile. worst day on record. that is after reporting a new outlook. this get the inside track. it is our data analyst. do you think what we've heard from the company in terms of our guidance vindicates the plunge in a share price today? >> look. airbnb is a stock that has a premium valuation relative to its fears, and with a premier valuation, typically you get elevated expectations, particularly around quarterly earnings, but we are not surprised to see the stock selloff. the debate around those shares is whether the guidance which shows increase marketing investing increases spending with a time related issue or a marketing related issue for the beginning the year or if it is something more structural. near term going down, that is why the stock is going down, but we see a value share over a longer term time horizon. >> when you look at all of the analysts recommendation did you think it was going to go higher? the general price target is only 14 cells on the stock, and with your perspectiv

is recommendations, follow a series of scandals in the crypto industry and the collapse of the exchange f t x is millions of clients. so i believe to have collectively lost billions of dollars . i also guys recommendations as regulators around the world to cooperates to control companies with operations across the board. as i've been speaking to the secretary general of, i'll go mountain maloney, i asked him is the collapse of f t x could have been avoided to you know, in a well regulated environment, you shouldn't get outcomes like that. then it is quite notable that the part of the f t x meant a business that was actually domestic cases in the united states. and it states an overseen by us regulators did not suffer from the kind of problems that f t x itself a faced. and so, yes, in principle, you shouldn't be able to avoid that kind of experience, but only on the basis of very significant changes in the way businesses runs, the kind of conflicts of interest. we saw the f t x model, they just didn't exist anywhere. how confident tell you that i ask is because those will be taken out.

so, i think the uae deserves credit for the commitment to crypto regulation.ey he ave a dedicated regulat here i think they deserve a ton of credit for being business forward and embracing technology and potential, but also putting out clear rules to protect con consumers. that is attractive to us to invest here. >> would coinbase ever move overseas in congress and regulators in the united states can't provide clear rules of the road you have a big issue with regulation stateside right now >> coinbase will not relocate overseas we will have a u.s. presence i can talk about some of the efforts that we're making there to getting regulatory clarity. the u.s. is behind we are seeing more thoughtful approaches in the eu where they pa passed legislation the uk has been welcoming for us there. that is a hub we decided to serve the uk market. now with the uae, we are interested in looking at this space as well. this is my first trip to the uae. i'm here to meet and listen with the regulators here in abu dhabi. >> so walk through with what you l -- walk me through what

but, the crypto space is unique. that is overseen in this episode. year, they are all reptile related in some way. leading the way is the valkyrie bitcoin miners etf, w gmi. we are going to make it soared 119% year to date. it has taken and only $5.7 million. just million. these spot etf's have taken in $12 million overall. over $118 billion have poured into etf's overall. not a lot of love, even though you are seeing this performance. the answer i have gotten so far is, people are so badly burned last year they do not want to touch it. jon: it is helpful context. you are right. we have seen this huge move in the asset class, but investors perhaps a bit jittery. helpful context from katie greifeld on what is happening in the crypto sector. in the technology sector, lyft expanding pre-bookings. we get perspective from the companies ceo on the decision to end pooled rides. this is next on bloomberg. ♪ good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock s

crypto company at the truck has filed for bankruptcy the bbc�*s arunoday mukharji reports from delhis important. according to reports, these reserves have the potential to meet 80% of india's demand for lithium. while an official announcement is yet to be made, the indian mainstream media is quoting officials of the geological survey of india as well as officials of the state government where this discovery was made. as of now, india is heavily dependent on imports when it comes to lithium. as we know, it is a crucial component used in batteries, especially for electric vehicles. at a time when the country is looking to invest and bet big on alternative means of fuel, this discovery, experts say, could help india's larger green ambitions. the country has been doling out incentives to ramp up infrastructure in the industry and encouraged commuters to switch from fuel driven cars as well. india remains the third largest carbon emitter, and the country has been grappling with rising pollution levels, especially in its cities. experts say this is an encouraging signal, that there could b

what crypto company were they referring to? >> that's confidential supervisor information. would like to maybe be responded to that in a private setting. >> but you know who -- >> gentleman's time has expired and you can follow up inviting on that. withca that, the gentleman from tennessee,nt the vice chair of e oversight investigations subcommittee esther rose is now recognized for five minutes. >> thank you, chairman and thanks to her other chairman and ranking members from different and thanks of the witnesses for being here. trade for your report beginning in march 2020, on-site examination functions were performed virtually due to the pandemic. are the examination functions still performed virtually with staff working from home? >> during the timee of covid, te examination was performed virtually and frequently, and as many of the examinations involved reviewing of documents, we were able to perform our examinations, review virtually. >> is that still what you are doing today? >> we are more in a hybrid state today. some examinations are on-site andll some are actually

but for now, that's all i have a crypto dot com arena. i'm jason dumas aspect to you guys. >> well, haha, i think we're both just and with on the court tonight a jason, thank you. warriors fans at thrive city. they were there for a watch party and they went home. pretty disappointed tonight. yeah. bit of a their crop horseman. harry, talk with some of those fans, though, who say that they still believe the dubs can pull this series out. >> despite the fact that this game didn't go the warriors way, fans still packed, thrive city to support them and they say they still believe the entire series will be won by the warriors. >> golden state fans disappointed to see the warriors dropped game 3 of the western conference semifinals see the warriors which is not clicking to the chemistry was off. you know, i feel like a like defense and offense odds were getting made through. the warriors came out strong in the 1st quarter but fizzled out leaving lakers fans like a czar. confident los angeles would win the game at half time. we got double-digit

but for now, we're live at crypto dot com arena. or as noel says, staple thank you, jason, for correctly. naming center. >> we do have warriors fans, though, that were out and thrive. city had a watch party tonight. and a lot of those folks are going home. disappointed. yeah. kron four's amanda hari talking with some of those fans who still believe that the dubs. >> can bounce back in the series. amanda, what's happening? >> yeah, they were disappointed tonight. and as you can see behind me here, this place is pretty much emptied out in the last half hour. but a lot of them say they're still hopeful that the dubs can win the entire series because there's still quite a few games left. if you take a look at your screen now, you can see some video of what it looks like here earlier this afternoon. fans started out optimistic the warriors had a strong 1st quarter. >> but fizzled and the second they were down at the half and never managed to regain the lead. but fans tell me this just a learning experience for monday's game. >> far you n

any other type of crypto currency is often more stable than other digital currencies. and can also be used as a hedge against inflation. if the price of gold rises, the value of the car and see will also increase those box tokens. kind of the fulton sold on exchanges just like other types of crypto currency and can also be used to purchase goods and services online. so in baldwin has been suffering from lots of inflation fee. yes. which previously led to the national currency being swept for the us solar or the recently. and we introduced symbolic way and dollar remains on stable and pressed by other foreign currencies. the government has resorted to using new crypto assets following the example of going on. nigeria and south africa. and bob way wants to reduce the american dollars with no for the in the country while also is facing us sanctions. as alleged human rights abuses. we spoke with them both ways, collins, finance, minnesota on one of his previous s as they both say that country needs to revolve fix economy. so going to be investment some, some of those are i

it looks as if risk sentiment is rallying in crypto. a little bit of a push back. in the micro, is there risk on sentiment they? is it earnings? ed: there's a lot of dripping bond earnings. lips touching a record low on that stock. the outlook for revenue is not driving with investors. paramount 24 hours ago had a loss. warner bros. the discovery out with a surprise profit of streaming unit even though legacy business doing advertisers fly. then again you talk about the banks, pack less of the most on record, 84%. i am not seeing much rationale on the bloomberg or in the reporting. it may be buying the dip situation. will dig into that later in the program. there is one clear name moving to the upside and that is apple. look at the game on apple shares. strength is the iphone and services. growth in both units although low growth, 1.5% for the iphone. 5.5% for the services. before .8% gain the biggest -- the 4.8% of the biggest gain since november. we have been talking about fintech. what apple is doing on the side of things. caroline: apple helping to drive the ma

crypto company at the truck has filed for bankruptcy protection in united states.authorities accused it of operating an unregistered exchange. the company, based in seattle, stopped its operations at the end of last month following the allegations by the us securities and exchange commission. it has recently been fined almost $30 million for violating sanctions on certain countries, as well as breaking anti—money laundering laws. heightening regulatory scrutiny has seen a number of crypto country tumble in the past year. britain's investment minister has arrived in hong kong to promote business ties with the city. lord dominicjohnson is the first british minister to visit hong kong for five years , before mass pro—democracy protests swept the city and resulted in a crackdown by beijing. our asia business correspondent nick marsh with more. there is a focus primarily on financial services, and financial technologies. now the economic links between the home of europe's financial capital and asia's financial capital, of course, they run deep. there are some parallels

and i think you are exposed to, if crypto ever comes back, and crypto feels pretty stupid right now, in general, here in america, it does it just doesn't seem like something. if crypto comes back, the robinhood customer is going to be there for it in a meaningful way, and you have the potential for, i think, maybe they get taken out or something like that to me, if you are interested in coinbase here, i'd go to robin hood. >>> a lot more "fast money" to come here's what's coming up next. >>> chipping in. amd getting a boost on reports of an a.i. alliance with microsoft. what it means for the semis sector. >>> plus, a waste of office space. new york city seeing a surge in vacancies. and the real estate crunch could just be getting started. the details ahead. you're watching "fast money," live from the nasdaq market site in somesqetis uare we're back right after this. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ lomita feed is 101 years old this year and coun

charles: coming up crypto tensions heighten. the stakes getting big time.feet, they're saying so what? they're pretty belligerent about it. i think natalie prune nell about digital assets. first we have nancy tengler she has been busy herself. she had some things, she trimmed some things. she will give us a lesson how to actively manage a portfolio in this kind of a market next. ♪. what's the next chapter? that's the real question. with fidelity income planning, a dedicated advisor can help you grow and protect your wealth, even when you're not working. they'll look at your full financial picture and help you create a flexible strategy designed to balance growth potential and guaranteed income. so you can stop worrying about the future and enjoy the life you've created. that's the planning effect. from fidelity. >> woman: why did we choose safelite? >> vo: for us, driving around is the only way we can get our baby to sleep, so when our windshield cracked, we needed it fixed right. we went to safelite.com. there's no one else we'd trust. their experts replac

how is the banking crisis impacting the cryptocurrency market we have been watching crypto since thelapse of silicon valley bank. >> you look at march 10th with the problems with silicon valley bank and it has been an upward trend. bitcoin gained 22% in ma march alone. they see cryptocurrency and decentralized currencies become a safe haven play. the look at the kre against the nasdaq which represents the qqq and they are out performing. >> you see a dip before march 10th and the spike to the upside since. i want to draw down on this. we hear tightening credit conditions and possibly a rate hike and cost to capital turmoil in the financial sector. is this a headwind >> you mentioned we are getting a decision from the fed in the next few days. that has one of the biggest effects of outsized price movements and the cryptocurrency market the macro data points and moves by the fed ripple into the price of bitcoin one thing to mention, frank, when silicon valley bank closed, some did signature and the liquidity fell out of the crypto market if you have a bullish buy, it is great, but sell

just like any other type of crypto currency. it is often more stable than other digital currencies and can also be used as a hedge against inflation. if the price of gold rises, the value of the currency will also increase. gold back tokens can be bought and sold on exchanges, just like other types of crypto currency. as can also be used to purchase goods and services online. the buyer has been suffering from massive inflation for years, which previously led to the national currency being swapped for the us dollar. while the recently reintroduce and buy $1.00 remains on stable and pressed by other foreign currencies. the government has resorted to using new crypto assets following the examples of donna and nigeria in south africa. zimbabwe wants to reduce the american dollars monopoly in the country, also facing us sanctions over a legit human rights abuses. zombie and journalists, austin collude, but says the us sanctions against them by way are unjustified as washington contributes to economic was across the whole region. this

you mentioned crypto, that is supporting crypto related stocks like coinbase, higher by .8%. it had been higher after the company announced in international derivatives exchange. u.s. regular digits are ongoing. western alliance, another regional banking, lower. we continue to track that contagion risk. the main earnings mover is uber. we looking at the biggest adjustment since november, outperform and in the quarter, strong -- there is strength in riding and delivering. we will get to that later. lyft is modestly higher. they are so closely linked as market competitors. caroline: for a moment, let's talk about one company did not mention in the micro. we will talk about check gpt, how is that ending the tech industry? that seems to be the case for chegg which is down by 50%. the chabad tool is threatening its homework services. they noticed a spike in student interest in check gpt -- chat gpt since march. what does ai and education look like going forward? how do they harness each other? let's look into generative ai. teach ai is a look at an initiative to helping educators

what we found was that 1st republic, silicon valley, and the crypto banks that specialize in crypto currencies failed because the managers did not put in place the proper governors and risk management structure that most banks had in place. take, for example, silicon valley bank. they operate for over 9 months without the chief risk officer . and the chief risk officer is one of the most important people in a bank, because that person's responsibility is to make sure that they've taken to account all foreseeable risk. and then the environment that we were in, it was absolutely clear that as an inflation started to take off, the federal reserve is going to fund raising embrace, i guess we, i agree that the federal reserve raise rates that historically fast paced, but face should not have been caught salt flood for the that, that their customers pad it. and now we do have a new technology with bank panics, are now induced or, or, or, or capitalized by social media. so in silicon valley, which had people that were subject to a lot of groups, think you have one social influence or put out of a hug

there is a parallel with crypto. you have been an active investor in the crypto industry.atest was edx markets. that is a froth and bubble burst cycle. why will we not see the same thing play out in ai? konstantine: i am a believer in crypto as well, but that is a separate trend for further discussion. there is a lot of depth there too. too early to tell is a critical point and i encourage your audience to use ai and make it part of their lives. there is this trite quote, ai is not going to take your job. a human using ai will. there is a lot of truth to that. the action to take is to start harnessing the power of ai. if you're not using ai tools, try them out and see how they can make you better. internally at sequoia we talk about augmented intelligence as opposed to artificial intelligence. caroline: absolutely great to have you. thank you sequoia capital partner konstantine buhler with the optimistic point of view. go play with ai. coming up, what u.k. regulators are doing in terms of acquiring into adobe's deal to buy figma. we are talking tech. this is bloomberg. ♪ g

what crypto company were they referring to? >> that is confidential supervisory information. i would like to be responsive to that in a private -- >> but you know who that is? >> gentleman's time has expired. you can follow up and writing on that. with, that gentleman from tennessee, the vice chair of the oversight investigations committee, mr. rose is now recognized for five minutes. >> thank you chairman. and thank you for the other chairman and ranking members for holding the hearing. thanks for the witnesses for being here. we commissioner, get your report notes that beginning on march 2020, on fight examination functions were performed virtually drape to the pandemic. or the examination function still performed virtually with staff working from home? >> during the period of covid, the examination was performed virtually and frequently, and as many of the examinations revolve reviewing documents, we were able to perform our examinations review virtually. >> is that still what you're doing today? we >> are more in a hybrid state today. some names in -- some examinations ar

tune into "bloomberg crypto" today.ople, transactions, technology shaping the world of decentralized finance. alix: you are looking at a live shot of the senate banking committee hearing into the banking failures of silicon valley bank and signature bank get senator rounds now giving a question to the former svb ceo, fielding some of those questions. let's talk about what this winds up meeting. mark calabria, cato institute senior advisor, joins us now. what do we want to learn from the senate banking hearing right now? mark: it is important to recognize that the executives -- senate has the executives and the house has the bank regulators, and it is an argument to reemphasize and refocus the failures of these banks on the executives, an interesting contrast for the house, taking the approach that it is the regulators who messed up. one of the things you will hear out of this is a focus on what these executives did wrong. unfortunately, what we are not going to hear is a mea call -- mea culpa in any way. these executors

but for now, kate, i'm live at crypto dot com arena.. >> it's hard to be too upset when you see the cute kids playing like that. thanks, jason. alright, checking in on the east now with jimmy butler and the heat hosting the next for game 3 of a tied series and jimmy buckets. the home crowd at ease right from the start in this one. butler doubles into the key as he does so well, of course, mitchell robinson meets and then butler spins on hand, hit the banker and won. then a little bit later. it's butler again, drive through the key. splits. 2 defenders, his the shot and won again. led everybody with 28 points. >> would it be a knicks game without a little tussle? no. julius randle and cody zeller got tangled up. randle gets shoved to the floor as more players intervene. really much ado about nothing except a 105, to 86 heat win. is miami takes a 2 to one series lead. let's go to the diamond giants fans celebrating both the kentucky derby and willie mays. 92nd birthday today at the ballpark and the giants got on the board in the second wh

they are destroying people's cryptos, crypto accounts. know, janet yellen talks about equity towards our brothers and sisters of color. and then what does she do? she does everything imaginable to destroy their their crypto profits. my friend got me into the crypto industry. i made a huge sum of money. and then all of a sudden they began to scare the living -- out of everyone. the banks started employ saying that they're going to take our crypto system down and now what are we looking at? we're looking at a wrecked financial future that is about to implode us. you have a good day. let's go to joe, who's calling from indiana on the democrat line. joe, good morning. yes, i was wondering, i i've been following this forever and whatever happens, $5 million that steve bannon stole on the wall, they keep bringing that up. that really drives me nuts. as for joe biden. yes, i feel he did backpedal. he should not have done that. the republicans want to crash the united states. that's what they've always been about. watch this. since i was a kid an