maybe some crypto -- crypto thing will happen in the future but i think it willl be different.ou won't be the same stuff that i wrote about. >> in the book there's like the idea of crypto and smart contracts and everything that circles around it and ponzi scammers and scammers that you describe. you have a hard time separating the idea from the people. >> for me at this point it's hard to separate and i can only judge crypto by what i saw which was bad but i also know that the ideas have a lot of appeal in the a lot of smart people have worked on them. but the question i would come back to when i was talking up to something and that like as a writer you want to keep up with what's happening so you can write about it so i did like k you've got this company and you say you raise $200 billion so maybe we can play the game together and it will be a better scene. there were guys like no, no, no. we have the $200 million but the game is five years away. we cannot play the game. and i felt like i was holding back the curtain and was very disappointed by what i saw. so at this point it

was super important and central to the crypto economy, and, yeah, i just couldn't believe like cryptoders really, really trusted this company. >> it seems like you set off on a journey that you thought would have like a simple resolution and then it just got like more and more complicated in terms of like what you were looking for because it seems like you were able to figure out fairly rapidly that this was like a sketchy company that was telling lies, but it didn't lead to like a neat, simple resolution, oh, know you that people know that, they certainly won't keep their money in there. >> right, like in traditional finance land. when you do an expose' of a mainstream finance company, you don't usually have like conclusive proof that they're a fraud. like the story, if you go back and look at the stories that exposed enron, they were just sort of like, hey, you might want to look at this weird financial maneuver they're using. with tether, you definitely had that already and anyone who invested in tether tokens had reason enough to sell them to tyrion a get their money out, but in t

>> so i resisted investigating crypto.thought like it did not have the same cool complicated scamming us i could untangle and write about. but tether was a mystery that appealed to me. it's called stable coin because it's a coin you give them a dollar and they give you one tether token. take gamble with elsewhere in crypto land. and when i went to start into it, tether had sold billion dollars worth of these chips and they had not said to anyone satisfaction where they were keeping that $50 billion. so there was this fear that if people went cash in their tether chips, the $50 billion would be gone and the entire crypto economy would crash. and so felt like this was the kind of thing i could work on trying to find this like missing money. and that was the mystery that like sucked me into crypto world for two years and when you start mean if this was a a bank a proper bank they would have a pr be like a pr division you who to call u have prp firms, division. where do you start when you enter? >> compared to a traditional fi

these are advertisements for crypto, but you know, crypto existed in the same capital of system that the banks to group though is a profit making enterprise. they don't want to be the bank for the poor for the bank cuz there's no profit in it. believe me, the big banks, you are all experimenting with crypto by the way, they're either buying a little trip the companies or they're creating their own. just in case it turns out that there is a way to make profit from the poor they want in on it too. but that evidence is not there yet. and i'm very dubious that it ever will, in our system of any quality which is generated and reproduced by capitalism will decide which industry can make a profit. and which can, and the banks have long ago develop ways of understanding how to protect the monopoly they have a from anybody who comes along. and if crypto were able to capture a significant part of, of the credit business, the big banks will be right in the buying them up and creating new competitors. more money in those competitors, they'll probably win the competition, which is what happens in

it is able to enjoy less regulation then the big banks. crypto currency is something new. crypto currency hasn't been tested for very long and it took advantage of the fact of all banking regulations only applied to banks. if you don't call yourself a bank, well then you are free of regulation. why do i point that out? because every financial criminal in the world is worried about regulation. banking has been an area in which criminals have been active from day one. and that's why there's so much regulation, because the banks have committed every conceivable legal act they still do. in recent years, we have forced banks in this country to pay billions of dollars in punishment for long during money from the drug business for over charging. if you, if you overdraw your checking account for over charging you, when you exchange currency, you know, a euro to a dollar or whatever. it may constantly are doing this. and as a result, they have built up hostilities in world populations who respond to by demanding that the government regulated control banking. but the irony of all of this is that th

the crypto currently scams we see even crypto currently open dumps were done before but you're right, the technology has changed it. it's change the delivery system as far as robocalls. the voice over internet protocol were phones can be messages can come in from all over the world over a computer. and the phone is still the way that seniors get the most scams. and there's even something called spoofing. you mention the irs and you know it's not the irs, which is the same line i've always told people. however, they look at their caller id and they see the call is coming from the irs, so they trusted. that's what my motto comes in, is trust me, you can't trust anyone. ai has just enhanced that. sort of what time was a cut anytime you are asked personal information, anytime you're asked to make a payment of any kind, anytime you're asked to click on a link, you've got to be skeptical. you've got to hold back and check that out. but it's a nice rule that can be very difficult when these scammers, east scam artist can the only criminals we call artists, have knowledge of psychology with t

what it could mean for opening the doors for more investors in crypto t crypto.is thursday, january 11th, 2024. you are watching "worldwide exchange" here on cnbc. >>> good morning. welcome back to "worldwide exchange." i'm frank holland. let's pick up the half hour check with the stock futures. you see futures solidly in the green. it looks like the dow would open up 35 points higher. nasdaq is the best in the pre-market up over .10%. take a look at the yields. we will continue to watch this all morning long. we are watching breaking news. >>> the oil tanker at the center of crisis in the gulf of oman is boarded by unauthorized men in military uniforms. details are unclear in what was the latest seizure of the chip in ship in the waters of the middle east. oil iss moving higher. we will show you in a minute. in general, oil moving higher. actually, we will move on. that is the morning money set up. >>> the key driver for the markets today is the release of the december cpi which is due out in three hours. that is expected to show an increase from november of 3.2

previously. and shares but not in crypto previously-— and shares but not in crypto previously. we saw the collapse of _ previously. after we saw the collapse of one _ previously. after we saw the collapse of one of— previously. after we saw the collapse of one of those - previously. after we saw the i collapse of one of those crypto exchanges last year, you can understand why investors are concerned, but we have covered this story before in the last few months and we have been anticipating this change from the us market regulator, and i understand the expectations are that a decision could come within days, so why are we so much more hopeful at this point in time? it is because there was a big court case in august in america where the financial regulator in the us were told that basically their decision told that basically their decision to reject a previous application for an etf was unfair and so they had to take it a lot more seriously and the guy who runs the sse and not a big fan of crypto, he has got to take it more seriously, we have heard from cathy would who is a famou

in crypto. the anonymity of crypto, that is why scammers love it so much. >> talk about why crypto. why is it happening through crypto rather than your bank account or some other transaction account? >> it is a new shiny object. we think there is something there. i can't help but believe to a certain extent it is the emperors new clothes. cryptocurrencies are legitimate, but the idea of making millions in investments -- >> it is a new shiny object. anything else? >> the anonymity is terrific. that is one thing you have people looking for the privacy. of course, that is something where your account gets mixed in with others and becomes very difficult to trace. one of the things the government did a great job with was, after the ransomware attack with colonial pipeline, they were able to trace the accounts and get it back. but once goes into the mixers, then you have problems. there are legitimate privacy concerns some people may have, but it doesn't come anywhere near to the scammers. >> also, as i understand, it is fast. the money is gone. >> that's the thing. with scams, it is ofte

is _ still in crypto. the move could still happen. is it _ still in crypto.uld still happen. is it expected? i still happen. is it expected? either way it will have an impact on bitcoin? it either way it will have an impact on bitcoin?- either way it will have an impact on bitcoin? it is not totally done _ impact on bitcoin? it is not totally done deal _ impact on bitcoin? it is not totally done deal that - impact on bitcoin? it is not totally done deal that it. totally done deal that it follows from the scc —— sce losing a court case where the court basically said they had not provided a good reason for not provided a good reason for not approving an etf and sent the sce e away and it seems to be that they do not have a good reason and there for will have to do it. that is expected in a day or two when that is what this is about. as always with changes like that everybody is buying the rumour. that is why bitcoin�*s prices going up. whether it continues to rise after these etfs is approved is an open question and it is possible that the price may fall back.

it means that the government knows that if the central bank directly says that crypto transactions are prohibited, what it is doing now. the vice president of crime prevention of the judiciary, this autumn, it is the official position that any activity in the field of razza , of course, with the condition that it be organized , will be taken as a membership. we have to pay attention to the fact that the nature of this field based on the blockchain platform is unmanageable . governments all over the world are facing a phenomenon. it has a golden point. the way the government deals with any part of the code of land can turn its opportunity into a threat or its threat into an opportunity, that is, as soon as a government starts limiting it and limiting its people, china's experience is the experience of nigeria and many other countries. of course, for example, china is much stronger than us in this field, the restriction had the opposite result, that is, it led to the strengthening of the underground market or the migration of people to platforms outside their country, and therefore today

how crazy crypto can be sometimes.onali: given the many people if there is an approval today of an etf and they start trading as soon as tomorrow, what are the biggest risks in your mind that investors are not paying enough attention to? >> learning about bitcoin, it is not for everyone, it is volatile and it does not have any clear valuation methods. any objection are valid, it is not for everyone. fomo has been a feature of the market, you have been covering it for a long time, you have seen it in action. it is a risk because investors can lose a lot of money. hopefully with the weight of the reputable people behind this, they will be educating their clients and educating themselves in the potential as well as the risks and any allocations going forward will be prudent and if anybody does want to take a wild punt they can do so on their own. i read an interesting question from a colleague, when does crypto go mainstream? when is it easily adopted as of the u.s. dollar or even bought as a bar of gold? >> that is a fas

those in crypto are decentralized. of skye mavis and how xm infinity grew up in -- blew up in asia. where is the excitement and where you invest? is it always in equity? chris: we do equity and token investments. new york in the u.s. is the hub for this blockchain activity. it is really a bobo movement. china is doing -- a global movement. china is doing a lot. korea is active. japan. we opened a u.k. office. it is a very global movement more than most technologies. that skews some perspective in the u.s. stablecoins which are basically digital dollars are very popular. $600 billion in transactions last month. a lot of that happens around the world and we don't see that as much here. caroline: we have a fed. chris: the payment systems work well here and we have access to the dollar. it really is a global movement. ed: do you hold bitcoin or any other digital tokens personally? chris: i am very bullish. i do. i am not supposed to talk about my physical links but i do have a lot of crypto. caroline: chris dixon, managing

crypto winter, that is , such a long-term protracted decline in the value of crypto assets, and i think of the solutions that could completely turn this cryptozimles 5 around and lead to a possibly protracted phase of some long-term growth of the crypto asset. and in the meantime, the united states did everything to complicate life for the russian crypto market, introducing sanctions against the chatex crypto exchange and a dozen digital currency addresses. the document was published on website of the us treasury office of foreign resources control. and investors expect that following the release of bitcoin on the stock market. other cryptocurrencies will appear; the next one, for example, may be the second most popular ethereum. everyone who sends me money becomes incredibly rich. quantum psychology is working with the subconscious. i'm a billionaire, you're a billionaire. these are trillions of rubles that citizens are losing, this is a threat to national security, oh, young, handsome, gild your pen, i’ll tell you the whole truth when the rich you stand, and they give you your last, i

if you're a crypto _ right moves? deep sigh. if you're a crypto believer . right moves? deep sigh.'re a crypto believer you will probably be quite excited about it, as you said it provides to legitimacy. originally people were excited about crypto was the lack of regulatory oversight, it was seen as tradable but after all this scandals we have seen with various companies, i think some regulatory approval will be welcomed by crypto fans. the theory guess it opens a tidal wave of anyone who can access bitcoin. a $46,000 investment is not something everybody can do so that there is a money flows into the fund, the fund buys more bitcoin, the price goes up and more people get excited but that process can work in reverse as well. it is work in reverse as well. it is interesting. _ work in reverse as well. it is interesting, this _ work in reverse as well. it is interesting, this whole - work in reverse as well. it is interesting, this whole journey because when it all kicked off i remember my colleague investing in bitcoin right at the beginning, all those years ago, and the tumultuous

with crypto legislation like ours help crackdown on crypto scams? >> my students at bentley university, the banks of the note the customer rule. the legislation is long overdue. it is a no-brainer in the sense. >> thank you very much. >> i want to thank you for the video you showed at the top. this mom in scottsdale got a call from an unknown number. she picked it up and thought it was her 15-year-old daughter. her daughter was crying and calling out for her. they threatened to harm her kid unless she paid $50,000. they said they needed the money in cash. folks thereby called 911. it turned out that her daughter was just at home and not with kidnappers. the call was not real. scammers had used ai to create a voice that sounded like her daughter and she could not tell the difference. even though in that moment of the extreme horrific terror that probably shook her to her core, police said there was nothing they could do. no many was transferred, no crime they said had been committed. this feels to me, and i imagine many others and to many americans a

take a look at crypto prices down across the board, the price bitcoin falling over 8% last week afterand exchange proovrd stock bitcoin etfs for u.s. public trading thursday, pulling in nearly 00 million dollars first three days of trading higher than that today, joining me right now world economic forum in davos ceo of ripple brad, great to see you. >> great to see you. >> thank you so much for being here i want your take on impact of this etf approval what have you seen. >> i think it is a very big deal in large part further validation from institutions, and even in this case a government entity on outskirts coming into mainstream a validation indication of in other institutions into crypto asset market. maria: ripple enables global financial institutions take us through that. how. >> ripple at core, we sell blockchain technology to enterprises focus on financial institutions we started payment solution to settle crossborder settlements, for banks, for psps, typically have been slow expensive, using technologies we can dramatically reduce the cost increase the speed efficiency. >> y

we're a crypto specialist.within the crypto ecosystem for a lot of asset managers and issuers, this is the first time they're dealing with the complexities that go into running these types of products. >> you don't think blockroc blackrock is up to the challenge in. >> i'm not going to speculate on how well other asset managers will or won't navigate that. what i can say is over the last ten years we have learned countless times through countless cycles that this is not a straightforward -- >> why are your fees higher? >> we talked about fees, we promised investors we would lower fees, we did, we reduced by 25%. you have countless examples across the space where you have category leaders that are not the lowest cost option. >> but when you look at the screen, we put up the fees for everybody across the board, you're significantly, significantly, multiples higher than everybody else out there. >> yes. because gbtc has differentiated characteristics. there are not -- there are no assets in these other products. t

assets, human crypto interaction. what did you alternately think of this almost test case to the price reaction to the signoff? how much is baked in? how much exuberance is there within the $48,000 price point? jalak: it's great to be with you again. it has been an amazing 24 hours for crypto. i think that if we look at the price action, it has been pretty narrow. there is a lot of pent-up energy and demand for the asset. caroline: what does this mean for crypto more broadly? there has been a lot of focus on bitcoin. perhaps dragging away some liquidity and ultimately volume from altcoins. you are thinking about business models within crypto. it is their exuberance building into other parts? ether, solana? jalak:eth appreciated quite a bit over the last 24 hours since the pack and i think there is an expectation or viewpoint the sec will continue to approve select crypto assets like etf's. that allows more retail investors and institutions to feel comfortable owning these assets. if we take a step back, these are new

the chatex crypto exchanger and a dozen digital currency addresses.ublished on the service website. on control of foreign resources of the american treasury, and investors expect that following the release of bitcoin other cryptocurrencies will appear on the exchange market; the next one, for example, may be the second most popular ethereum. starting this year, the ministry of economic development and trade will switch to a new system of state support in the field of tourism; the regions will allocate a single subsidy, which they have the right to direct to whatever they deem necessary. the key indicator will be the number of trips, for example, in the khabarovsk territory the tourist flow for 2023 has already increased by a third, how the tourism industry in the region is developing in a special report by vira moroz. explore taiga landscapes, conquer snowy protected peaks, plunge into hot thermal baths, in strong minus. kick a goal into the goal wearing felt boots, the sights of this city can be found in your wallet. khabarovsk is one of the cities w

to crypto because it's been a wild 2023 for the crypto industry as authorities crackdown on the sectorsigures. meanwhile bitcoins value rose almost two 100 62% amid a broad rally in crypto assets. 2024 has already started with big swings. investors await next week's deadline for the u.s. sec over spot bitcoin etf's. let's talk about how important this could be with emily nicole. how significant is this decision we are expecting from the sec? >> it depends who you ask. if you talk to somebody in crypto they will say it is significant. a signal from the ecb -- from the sec bitcoin is something they are comfortable with. overall positive for crypto. others you speak to might say it is still an etf. you are not holding cryptocurrency yourself. if we think about the broader mission of democratizing access to finance, decentralizing finance, how decentralized is that if you are holding an etf? lizzy: at least they have you for perspective. the last year has seen arrests and convictions of major figures in crypto. how much has that shaken faith in the sector? >> it is harder for people to thin

there is a lot happening on the crypto space.hankfully we have arjun with us. >> he will join us in a moment. before we get there, it is key to talk about the price action in bitcoin today. up .90%. silvia, there is an expression in finance is buy the roumor an sell the fact. anytime i spoken to anyone in crypto, they talk about the carrot dangling in front of the community about the possibility of a bitcoin etf. we know there is approval despite the back and forth in the last 24 hours and it will happen. we have not seen any reaction on the price of bitcoin. this was baked into the price. the question becomes what is the next catalyst for the move higher? arjun has talked about bitcoin halves, but it is a well known fact. you think perhaps all the of this is to do with rate cut expectations which is similar to what we see in broader equity markets. >> it is also the question that i have at this stage about what will happen to bitcoin? it seems we are seeing investors paying attention to the next big thing and next etf. will the

and michael sunshine on bigger implications for all things crypto. it is all about the price folks will pay and maybe not pay. so far it's kind of a standoff. j woods, freedom capital markets chief global strategist at the big board on some of the moves we've been seeing. we thought we had the inflation thing set in stone. federal reserve was going to cut interest rates. you are not among them. maybe as soon asmara chip. now it's getting pushed back in this report, so much for those. >> reporter: seems like it is getting pushed back. we still have another cpi report before the march meeting, the focus will be on the january meeting. we don't expect them to cut at all. the language we want to see, what this reading will lead them to do down the road. this reading caught us off guard. a lot of harder than it expected but given the trajectory, you put in perspective nicely at the top where we were 18 months ago to where we are now. one slight uptick could be a 1-off and the one term trend continues to be down but we saw -- we still have a lot of work to

ed: that was the nasdaq cheer president and ceo. >> we have got to keep on talking crypto. wallet built on bitcoins networks. important offering for the transactions on bitcoin that much faster, easier, smoother. i'm interested because you have been someone who has been developing this space, thinking about crypto and bitcoin in particular for a decade. it took a decade for us to get to this point. we saw the brothers, out and want to get into this spot bitcoin etf scenario. what does it mean to you? >> man, well first of all, happy bitcoin etf day. thank you for having me. i think it is a huge deal. i view bitcoin as the best expression of fiat they basement -- debasement. as they print more of their own currencies and devalue it like devaluing the u.s. dollar, bitcoin is the best expression of that and you can see that most in the rise of bitcoin's price and it's because of two things, it is the scarcest asset on the planet, and it's one of the only asset classes in the world that demands energy to acquire it so those two things make it the best expression of what is incr

she said the sec should stop trying to prevent crypto and investors getting into crypto and stop addinge circus atmosphere around these decisions. finish one thing for sure, with bitcoin now if overtaking silver as the second most popular etf commodity behind gold, one of the 11etfs that launched last week to let people invest in spot bitcoin is outperforming the rest, and charlie gasparino is here to explain which one and why. >> if well, of course it's blackrock. but we should get back to what she said and unpack what she said. i think if you're reading between the lines, hester peirce is basically saying as of now the decision on an ether etf, spot etf, goes 3-2 against. that's what i believe she said -- liz: i didn't hear that, but you do. tell me more. >> i think anybody that follows crypto and knows the sec like i do would say that because to get out of the way means they're in the way. and gary gensler has always had an animus towards ether. he's always said bitcoin is a crypto, is a currency, and it's outside his realm of direct enforcement because it's a currency. he's never sa

because we see the potential of this crypto domain. as we continue to offer our investors more opportunities to access this innovation and capture the beta of what we call this new protocol economy. kailey: but what would you start with? eth, something else, another alt coin? sandy: i think you can anticipate you will see more filings coming from us at some point. sonali: how soon can they come? you see a market today with a lot of excitement already built around other assets. sandy: that is a normal progression path. there are many coins that have hit large racket -- rapid caps within the space. why stop with just bitcoin? there are other opportunities in different opportunities. ethereum is another asset in the crypto domain that offers a slightly different value proposition than bitcoin because it is more of an app development platform and fosters its own ecosystem. that is a slightly different proposition than bitcoin. in all portfolio theory it is better to have multiple than a single. so it would not be reasonable to expect bitco

portfolio but also use new crypto products.e watching this closely. it will impact your business and your world. that news, the updated forms. we have more issue -- more updates on fee structure. it seems like the weight might soon be over. >> we've been waiting for five years. we're getting close. it is going to happen. the question is wind as it goes live? does s.e.c. delay the filing? i don't think so. i think they are back against the wall. you'll will see the etf go live q1, q2 maybe. maybe they will give us the bitcoin etf but not the others. they've already said that bitcoin is definitely not a security. ed: you've been waiting five years. others in the market have been waiting much longer. the other kind of data we are getting now is the proposed fee structure. you think about beluga and your customers accessing what is a new product in the market. why is the fee structure or fee proposed by the issuers important? >> i don't think the fees are going to be as super important as others think. pensions fund -- pension fund

yes, there is an upper law , not about the crypto currency.my opinion, the issue that the doctor is referring to is an issue that goes far beyond the cryptocurrency issue. it can be raised about the macro issue, and for me, the question is what should we do in crypto currency, today's concern. i am for the country, this is why i am here, we are in the space we created for the country in the field of regulation up to now, what has happened up to now is that we stopped the growth and development, why did we take an active business that could not actually develop the appropriate tools in this field, and it has caused the iranian person to be in a competitive position. a beautiful technique can be found in a foreign platform in the field of cryptography, and unfortunately, this is one of the biggest kernel damage that we have seen in the field of cryptography. a foreign platform blocked all of iran's cryptocurrency assets, iranians, and everyone . before that, in 2013, a platform called emtigax suffered a breakdown, and no one got anything. there

he accepts that the crypto currency has legal restrictions .r hand, he takes a kind of guard that the audience has asked me many times if the government says that the crypto currency is legal, even now we have an exchange that is operating in this field. let's look at it . there is a structural intention of the government in this case that the government does not clarify its position on this i am criticizing the lack of transparency of the government 's position. we really need to see a fact, that is, the government knows that if the central bank says openly that even the central bank of iran is prohibited from transactions in the field of cryptography, which is now the deputy of the judiciary's crime prevention, this fall, this issue will be made official that any activity in the field of cryptocurrency, of course, with a stipulation that it takes an organized aspect. it is forbidden to hire a member who declared any crime, of course, they meant the activities of the temple, doctor, i will say the same with a condition that they state that it

in 2022 the government had imposed heavy taxes on crypto trading profits.ocal trading platforms to offshore exchanges like binance and kraken as domestic platforms had stricter know your customer rules. it is estimated that almost $4 billion worth of crypto assets are being traded on offshore exchanges and with the recent government crackdown some of these volumes are not coming back to domestic operators but it is a section that the government wants to scrutinise. the world? five richest men have more than doubled their fortunes over the last five years. oxfam's analysis found that the 5 billion poorest people on earth have seen their wealth fall. the charity predicts the first trillian air will be created within ten years and it is calling on governments across the world to introduce policies to try to tackle that widening global inequality. china's central bank left its interest rate unchanged, defying market expectations. signs of a weaker currency have continued to limit the scope for monetary easing. a slew of recent data continues to reflect the coun

after the global crypto exchanges were flagged for operating "illegally" in the south asian market. to mumbai where we find our business correspondent. why has google taken this step? the government's major concern is that these offshore crypto exchanges are not compliant with the anti—money laundering laws in india, and that millions of users in india are using these offshore platforms to evade taxes on crypto currency trading. late december, the government sent out show cause notices to nine such offshore firms asking them to talk about their registration and compliances and since last week first their websites were blocked and then they were removed from the apple store and now the google play store has also removed these apps. the government in india has been increasing oversight on virtual digital assets. in 2022, they impose heavy taxes on profits as well as trading of digital assets. many users had moved away from local platforms to these offshore exchanges because the local platforms had more stringent customer rules, while these offshore companies and offshore platforms had

after awhile this guy, he says, we have this type of crypto currency. i want to to learn how quick the currency works. so and, and this person will so kind and he said, i'm going to teach you the crypto car and sees like, bitcoin are increasingly popular as investments. the risk is high, but so the margins for profit, they are largely unregulated and transactions are difficult to trace that goal. so it makes them attractive for organized crime. the. so i chose to this person and you know, i, i let him teach me. you're investing the website, you can see your funds there. you can take out the money. the scam is groomed, the victims also in 4 months and just wait them to invest more in mon, laura. so the website was legitimate. she believed she exchange test savings for a lucrative investment, but instead of money went to a crypto wallet, the equivalent of a digital account controlled by the scammers. i wanted to withdraw a couple of $1000.00 and i couldn't withdraw them. and this person was, was pushing me to invest more money into, into this crypto curre

like laura, they invested the money in a fake crypto currency site. and on witching lea transferred the funds to a wallet used by scam us to hide its trace criminals, rerouted the money until it reached wallets k. k pop uses to pull the defrauded funds. these one that's then made several direct transfers to other accounts including this one, millions of yours was encrypted or passed through it. we weren't able to identify and corroborate that. this one that was opened by this chinese business man based in bangkok during the time the cash was flowing long. each one was the vice president of the tie a trade association located in this building on the fringes of bangkok. this is also the building of a chinese association. the overseas human culture exchange center. both the location i'm the sense that came into the focus of title storage sees in 2023. i this in february, police raided the building on suspicion of serving as a from to for organized crime, along with another cultural association in bangkok using the same name home and the home men were a c

crypto today, something else later.low the money. i think, the fact that it is, you know, emerging, there are a lot of things to be figured out about this. and i think that is what the appeal to it is, we are a little behind in truly understanding how to use itin a way that helps us combat. >> all right, mr. urban, you have decades of experience at dea, following illicit fentanyl funds. why do you think that crypto has become so attractive? >> it allows for speed. >> so, you can move it fast, unlike cash, which you have to physicallycaconceal, so there i and, to some degree, anonymity. they can transfer and move th asset anonymously, they are exploiting the lack of compliance and oversight, within the crypto industry. >> just a lot >> it is easier to hide, yeah, correct. >> make no mistake, drug traffickers are still moving cash the old-fashioneway, but crypto has changed the game by allowing criminals to move boatloads of money instantaneously and nearly anonymously. you know, no need stop $900,000 in cold, hard cash i

. >>> taking a look at crypto stocks, coinbase is down half a percent.ut riot platforms and marathon digital down 2.5%. we turn our attention to the cryptocurrency market and what's been a wild 12 hours for the sector. on tuesday the s.e.c. falsely announced an approval for bitcoin etf. in a statement the s.e.c. quickly denouncing the post saying its account had been compromised and the unauthorized tweet was not made by the agency or its staff. it says based on its investigation, the compromise was not due to any breach of the internal system. social media is pointing to an unidentified individual who got control of a phone number associated with the s.e.c. account. >>> today is the deadline day for them to respond to a spot etf. it includes blackrock, grayscale, and wisdomtree. joining me is director sarah ku kuntz. great to have you here. right now i'm looking at bitcoin under pressure now. is this s.e.c., false tweet, is that at all a catalyst for that decline? >> i think it is a decline for the catalyst. you need that better security. that being sai

there are 9 crypto tech -- 19 crypto tech company educate -- exhibiting here.heir going to want to hear what you want to hear, and that's what charlie gasparino's got, when the sec will finally let the spot etf funds run. we're live from ces 2024 in las vegas. ♪ ♪ reliq health is a digital health company targeting the $100 billion virtual care market. reliq is rapidly growing with customers that include several of the largest and most highly rated health care organizations across the nation. reliq health technologies. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com ♪ unnecessary action hero! ♪ -missing punches? -unnecessary! -check reversals? -unnecessary! -time sheet corrections? -unnecessary! -unentered sick time? -unnecessary! -go! -unnecessary! -go! -unnecessary! -when you can take this phone, you'll be ready. -make the

a very quick word on the crypto fiasco. for us, we don't cover crypto because of compliance issues. you're covering this part of the world, elections, japan. 34 year highs. the position is not crowded, corporate governance reform is ongoing, payouts kept rising. government announced the tax exemptions for the retail investor. that has been encouragement for households to put cash to work. we may see some consolidation but we still see corrections. >> is that the same as india? >> we also like india for the long term. election years. that's actually good. any corrections we see buying opportunities, long-term structural growth remains intact. we think with value stocks in the u.s.. we love the value sectors in the u.s.. for now, some market participants we expect starting from may but for some commentators maybe the second half of this year. i think this is, we can expect market developments for the pivot. >> what about treasuries? >> we actually think there is still room >> is the environment to extend we may extend direction. >> let's to find out. five years? two to three years. in

crypto should not get a free pass. forward to working with all of my colleagues to try to fix that. thank you all. despina mr. chairman, can i ask for personal privilege, 10 seconds, is that okay, jd? >> one of my staff members is leaving for the private sector. mary kershner and she is here today and i wanted to recognize her and thank her for her service. >> senator vance. >> thank you, senator vance >> congrats, mary, and thanks to the chairman for having this meeting and thank you to the witnesses for being here today. i want to focus on this questionnaire we talk about that know trafficking, in particular, and i worry a lot that we are always in this body, a few years behind what is always going on in our country. i think back, to my own very personal experience, with opioid addiction in my family.■ 10 years ago, what everyone was talking about was prescription painkillers. of course, 10 years ago, prescription painkillers were giving way to street heroin. five years ago everyone was talking about street heroin, b