we've seen it in crypto.oint enthusiasm about putting money to work and investing in this. neil: in dubai talking to big rigs. mice go to an event in the poconos. i always learn something. thank you very much. the animal spirits are alive and well. more after this. ♪ r workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected. the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. at harbor freight, we do business differently from the other guys. we design and test our own tools. and sell them directly to you. no middleman. just quality tools you can trust at prices you'll love. ♪ where ya headed? susan: where am i headed? am i just gon

most are like, i'm not a crypto person. it's not about crypto.t trump saying, i'm going to pick a winner. >> i think that is why most people are so desperate to get in with the trump investigation -- administration. they were looking for new people to invest. they needed new people to speculate. all speculation is gambling and trying to find the right coin to invest in that will become more and more valuable until you are rich. that is the thesis behind most of crypto. just pick the right coin, it will become more valuable and people will want it. the idea that they are trying to get in with the trump administration because they don't have access to the regular people because the crypto markets have been faltering -- >> but it is not faltering now. >> because they are thinking that they will have less regulation. we will scam more people to invest into these coins. owners of these coins will already get more money out of it. and we will have the backing of the federal government. that is the most worrisome. when you see donald trump stand up and

crypto daddy.major financial institutions and other corporations stopped doing business with them after january 6th. david, i turn to you first. first of all, long before january 6th, donald trump had a very difficult time doing business with any u.s. bank's. it's how he ended up with deutsche bank as his banker and after all the issues they had, they stopped banking with them. but even this headline, after january 6th, institution stopped doing business with us so we turned to crypto. what does that mean, you are paying your contractors in crypto? you pulled your money from chase, i mean like this is not making sense but what does it mean. >> i'm quite confident that he's not paying contractors in crypto. he's had this huge about-face. he recognizes that, we've seen in getting into all kinds of businesses and crypto is one in which he's been approached and we will see what this world liberty thing is, it'll have a token, justin son, noted crypto entrepreneur who bought that banana. >> for $6.5 mil

can an interim do that with crypto? basically wrap up the good ideas when we get to disclosure and put that in a document? with some diehard lawyers in the next three or four months? >> they can and should. there is interest in the acting chairman can direct staff to work on rule makings. because of the quorum and desire to see the new chairman have a free hand i would think it would be promulgated subsequent to the new chairman but they should hit the ground running. >> confirmations of heads for behind the executive so you can see situations where colin powell was appointed before bush took office. you can see things like that. gary shapiro was confirmed after the inauguration but four or five months where agencies go through the senate calendar, you lose the hundred day metaphor, not a metaphor. 100 days, you lose. one of those two would focus on using the energy to get something done so the chairman is drafting. >> cool. she appointed john coates to be the director of the fed. he was my professor and we have been op

crypto king stole $6 million. when we realised he was a bad actor and his motives were purely financial and i guess that is what i get for trusting the team that i relied on. jake greenbaum has denied wrongdoing, claiming he did not make $6 million and missed out on tokens due to having his wallet and tokens frozen by logan paul. logan has claimed he had little oversight over the launch of this token and instead deferred to eddie and jake on the launch. logan points to text messages leading up to the stealth launch and on the day of the launch itself that he believes shows lack of involvement. but on the day that the launch happens, logan appears to have been aware of the team's plans to buy tokens early without anyone else getting in. did logan paul get backstab? absolutely. i am not debating that. he trusted some bad people, but were his intentions pure? i don't think so. the bad publicity about cryptozoo has not stopped logan from his other adventures but he is no longer silent in the face of the public critici

lobbied for crypto. i was listening to an interview from him last year, talking about the ft dp collapse, the giant fraud by sam bankman-fried. he said that the problem was that the rules in the u.s. you were too strict. had they been looser, sam bankman-fried would have followed them. he would have been in the u.s. where we could have monitored him. >> great reporter. a very, very important beat in the coming hears. >>> coming up, police haven't caught the gunman who killed an insurance ceo out of a manhattan hotel. latest on the manhunt next. mann hotel. latest on the manhunt next woo! hey! try new robitussin soft chews. packed with the power of robitussin... in every bite. easy to take cough relief, anywhere. chew on relief, chew on a ♪ robitussin ♪ speaker: who's coming in the driveway? speaker: dad. dad, we missed you. daddy, hi. speaker: goodness. my daughter is being treated for leukemia. [music playing] i hope that she lives a long, great, happy life and that she will never forget how mom and dad

like greed is good in the crypto ecosystem.haps more important i think is the ethos of crypto currency especially bitcoin and the idea of block chain, the technology it's built off, which it is an anti-institutional technology. that's the way that it was created to -- you know, to take the middle man out, to take away the banks and the central bankers and the government and the oversight and regulation and all those institutional guardrails that they help protect people but they also leave people out of the financial system. people who are into crypto are really into that anti-institutional authority, and it makes a lot of sense. we are in an extremely low trust moment. the maga world is full of people who are incredibly skeptical and distrustful and resentful of elites, and they like the idea of this. so this culture has a real, you know, overlap with the maga and the trump ethos. >> yeah, nothing says anti-institutional like the u.s. president creating a strategic bitcoin reserve built on goals. what? i mean, can we talk abou

needs to lay off crypto.exactly what's going to happen. >> but that doesn't mean this former s.e.c. official thinks the agency's actions were wrong. >> crypto is a scourge. it's not something that you want in your society. it has no utility. it's just pure speculation. remember, there's no balance sheet to crypto. there's no financial statements. >> you're talking about s.e.c. filings, there's no public disclosure mandate. >> exactly. nothing. but also there's no audit inspection, examination, net capital requirements, no license sewer that creates real systemic risks, not just risk for investors. but the other part people don't really talk about enough are the dire externalities that are enabled by crypto. >> what do you mean? >> every single crime you can conceive of is easier to do because of crypto, especially ransomware, human sex trafficking, money laundering. north korea is financing their nuclear weapons program using crypto. >> sam bankman-fried's conviction for fraud is a case study of what can happ

as a crypto and a.i.'s czar that will submit a pro-crypto policy and the leader in crypto in a.i.inds for that are substantial and have been fully pasted in the crypt or industry has done so well since the trump nomination for the next president. maria: i'm glad you mentioned paul atkins, you said trump will be the first crypto president and paul atkins as part of the bigger story because he would replace gary gensler who put rules and regulations around digital assets and also a commentary going on on wall street whether or not paul atkins is going to get behind and support the idea of emerging with the cftc regulators wanting in on a.i. and a lack of clarity, how important is paul atkins at the fcc along with david sachs in the enter david sachs as a new a.i. czar. >> extremely important i would say under the gendler era at the fcc there has not been clear regulation, that has been the problem how can you operate in industry when you don't know the rules you can disagree with the rules but if you know the rules you know how to operate and when you don't know the rules when ud ba

i have heard stories of people using crypto to buy homes. >> people are finding a way to use crypto for real estate. >> interesting. barry, if we were to zoom out to 30,000 feet here, some would argue this should be a real data point that pushes the fed toward considering the easiness of financial conditions overall, and maybe holding off on rate cuts later this month. how would you contextualize this for us? >> i think there's a broader trend at play as well. through the 2010s, we had two factors pushing down on consumption particularly in the first half of the cycle. the first one was the deleveraging effect of the global financial crisis, the housing crash. the second was the boomers, the second biggest age cohort was in peak retirement savings mode. >> interesting, the accumulation. they're trying to accumulate there. >> the life cycle wealth thesis, you send most when you're in your 30s and 40s, and spend less as you get close to retirement, saving for retirement. that was putting downward pressure on consumption. i had this thesis, the consumption was going to be stronger this cyc

it appears there's no stopping the rise of the worlds leading crypto—currency — bitcoin.ew ground hitting all time highs of over 100 thousand dollars a token. feeding off the crypto positive pledges from president elect trump — bitcoin has surged more than 50 percent in value since the us election. this latest surge comes off the back of donald trump naming paul atkins, a veteran financial regulator — and crypto advocate — as his choice to lead and possibly overhaul the main financial watchdog — the us securities and exchange commission. 0ur north america business correspondent ritika gupta joins us now. this is a significant move, isn't it? it this is a significant move, isn't it? , ., isn't it? it is. heading through _ isn't it? it is. heading through the _ isn't it? it is. heading| through the $100,000 isn't it? it is. heading- through the $100,000 level is psychological but again, president elect trumpeting an eye on his promises to have a crypto friendly cabinet and now appointing paul atkins as the s e c. gary genter has been lambasted by the crypto community for tr

is he intimately tied to crypto? >> the important thing to note is that he has been supportive of crypto for a while now, as well as in the ai space. we had reported previously that there would be a crypto's are. it was not clear at the time if that would be combined with this ai's are role. we now know that it is. again, that points to how far, you know, these emerging technologies, how big a role they will play with the trump administration. this is really capping what has been a turnaround because of his relationship with crypto. right? originally he was skeptical of it. on the campaign trail he said he would fire gensler. now we have adkins, supportive of it. sachs, like him, a supporter financially of trump, supporter of crypto, really helping to bring in not just the crypto industry to donate, but also younger men in general. abigail: absolutely -- scarlet: absolutely, that is part of what we saw pushing him into electoral victory. from what i understand, this is not a paid full-time position where he has to pu

crypto wells.ecause cryptocurrency claims to be all about creating money that does not rely on the u.s. government . but it makes sense when you understand cryptocurrency not as a new technology or the symbol of some online libertarian movement, but as an industry rife with speculators looking to cash in on donald trump's second term. as charlie writes, "whether trump understands crypto beyond the basic notion that it is a good way to win votes and get rich off the backs of his most fanatical supporters is not clear, but the alliance between trump and the crypto constituency makes sense philosophically. trump is corrupt and he loves money." joining me now is the author of that piece, charlie, staff writer at the atlantic. charlie, i am such a fan of your writing, and this piece in particular was very helpful for me, and i'm sure many other people who read it, to understand the handshake between maga and crypto. can you elaborate more on the sort of anti-institutional band that unites these two subg

while bitcoin spikes on news of a crypto-friendly presidential appointment. how mr.'s picks to head the nation's intelligence agencies appear poised to radically shift the way those departments operate. >> it's not really clear with these people yet whether their goal is just to get real loyalty for donald trump or whether it's to destroy these organizations. geoff: and a palestinian chef who ran a soup kitchen in war-torn gaza is killed delivering aid to a hospital -- in what his family says was a targeted israeli drone strike. ♪ >> major funding for the pbs "newshour" has been provided by -- ♪ >> a law partner rediscovers her grandmother's artistry and creates a trust to keep the craft alive. a raymond james financial advisor gets to know you, your passions, and the way you would rich work community. life well planned -- enrich your community. life well planned. >> carnegie corporation of new york. more information at carnegie.org. and with the ongoing support of these individuals and institutions. ♪ this program was made possible by the corporation for public them

you have seen a new crypto's are come out. david sachs. someone invested in crypto.have you been able to steer the conversation? >> david is a good friend and has been an investor for a long time. the reason it is so important to have someone like david stacks in that position is that the two industries are critical to the future of america and have been really constrained and challenged by regulatory reach, regulation by enforcement. i think the market probably doesn't understand how fast these industries can move if there is regulatory clarity. bitwise is involved in washington. we have spoken to folks in washington, we talk to them all the time. it's great to have people who understand crypto taking office and i'm excited to see what happens here. caroline: looking at things that happen again and again when it comes to crypto, bitcoin was your preeminent thought, not all boats rise. there is fun, there is exuberance, there is an air of sitting at the table at blackjack sometimes and i'm not taking that away from market participants, but how much is there a worry t

i am going all crypto all the time. friday, i spoke to high school personal-finance teachers who cannot get their students to focus on learning what mortgages are because they're all in and crypto. >> what if it is the next big thing? you have an opportunity. it can only go to zero and it could go up to the moon. >> you are seeing there is a chance. >> i am saying, think about that. if there's enough people behind it and a government behind it, why would you do -- why would you want to take the other side? >> let's say we buy everything dan is saying but to have that and have a level of success, you need smart regulation and some level of guardrails. right now it feels like we will let it rip. >> we can talk about there's a supply but the price is really high. bitcoin is like a pyramid. the tech guys got in early and they are at the top. the masses are coming in with the etf and they are at the bottom. this pyramid is getting really big and, to smart regulation will make a new level come in. that's why they donated big

is going to be crypto friendly.s sent bitcoin to a new record high, crashing through the psychological $100,000 barrierfor the first time. we are nowjoined by the chief investment officer at landsberg bennett private wealth management, so welcome. let us start off looking at bitcoin. president—elect trump has followed through with his promise of a crypto friendly administration, and he is now picking atkins to beat the sec. we have seen bitcoin rally nearly 50% or so. what you expect him to do for regulation, and what would you be telling clients about investing in bitcoin? i think atkins is — investing in bitcoin? i think atkins is a _ investing in bitcoin? i think atkins is a good _ investing in bitcoin? i think atkins is a good pick. - investing in bitcoin? i think atkins is a good pick. he i investing in bitcoin? i think. atkins is a good pick. he was investing in bitcoin? i think- atkins is a good pick. he was a small mirror sec chairperson, so is not unknown to the job, —— former sec chairperson. he is a pro—b

industry alliance, and so crypto companies and founders are very enthusiastic right now.ecting him to kind of abandon the gensler approach and really take a much kind of lighter touch, approach to the crypto industry. geoff: and what more do we know about donald trump's change of heart on crypto over the last year or two? david: yeah, i mean this is something that i think people sometimes look past, but, you know, when he was president during his first term, trump said things like bitcoin's a scam, you know, it's designed to undermine the u.s. dollar, and he really pivoted on the campaign trail this year. the obvious explanation, i think, is that the crypto industry has been spending a huge amount of money on campaign contributions and has really become kind of a financial heavyweight in politics. and so there was sort of a kind of an opportunistic element to trump's pivot on the issue. but he's also said that genuinely changed his mind about crypto that his sons, including baron, are super enthusiastic about the technology and that they kind of talked him into kind of be

a crypto hub. one of the keys is making changes at the s.e.c., chander president joe biden has cracked down on this market after seeing some excesses we saw during 2022 with fraudulent behavior. the current agency chair, gary gensler, singled out. trump has looked for a change in the crypto industry investors who supported his candidacy, and also wanted to see a change at the agency. hence their encouragement now. caroline: someone who has not only served on the s.e.c. before is a commissioner but has gone on to advise fintech, crypto companies. tell us a little bit more, other than crypto. how else is he going to be facing the financial markets? like: i'm glad you brought that up because he is far from a one trick pony. he is a seasoned regulator. one of the analysts are colleagues spoke to after he was named referred to him as the godfather of conservative capital markets ideology, and that is a big statement, but he will be coming in with an agenda to make broader changes at the agency which ove

in crypto. petroleum reserve like for crypto? >> i think so. we will do something great with crypto. we don't want china or anybody else. we will be ahead of a.i. we will be way ahead of a.i. we have to produce electricity. it is unbelievable. we need twice what we already have. if you think that's for a specific industry. we will be able to do it. we have lee zeldin in charges of the environment. he will give us strong approvals. he will make sure everything is good and clean and proper. >> natural gas should be able to afford it and handle the 5% per year grid. you obviously think we need to be up on the king of a.i. which means people say protect taiwan. china would like that technology. >> we will have a lot of talks with china. i have a surprising relationship. when the covid came in, i cut it off. that was a step too far. a bridge too far. we have been talking and discussing with president xi some things and other world leaders. i think we will do very well all around. we are -- we have be

and crypto and, blockchain, which i think is even bigger hand crypto, people -- than crypto.i don't care how highest trading right now -- liz: 101,000. >> -- unless that blockchain technology can do stuff. and right now that blockchain technology is really nascent. no one really uses it. liz: well, banks -- >> very niche. banks are not doing the cross-border payment system, they're using swift. ripple is seeking to get rid of swift, but it ain't happening now. my point is a maybe sacks is thought to be bridging those two things together. i mean, i'm -- i don't know. the other thing is can this keep going, and i think that's a key point, liz. i think it can. i mean, what's interesting here is that you can only debase your currency so much as we have done in recent years printing money, spending money, $36, 7 trillion in debt, debt to g if dp if at 127%. -- gdp. before people start saying i want gold, i want a tore of value, gold is thought -- a store of value, gold is thought to be depass say. is that the word? liz: declass say. >> so then if you're young, you go to crypto. th

david sax, whose a big tech and vc guy understands crypto will serve as the new crypto czar.eing on the screen you saw 500% jump in crypto trading month-over-month? >> yeah. crypto trading went up 500% month-over-month at robinhood from october-to-november. october was already a pretty strong month and i think it shows that regulatory clarity doesn't just matter to the company's operating in this space, which we do believe is going to be a huge sector for growth in the economy and in the u.s. but consumers respond to that too. i think its been my experience that consumers want sensible regulation. they want to know that the assets that they're investing in are safe. they weren't getting that from this current administration and in fact it was more of let's ignore this industry and hope it goes away or send it overseas and i think that it should be embraced in the u.s. and the u.s. should be a leader like we are in a.i. in the cryptocurrency industry and i think customers are supporting that, and you see a ton of enthusiasm in the cryptocurrency markets, also in the equities m

and crypto for a while embraced him because he was doing the yeoman's work of bringing crypto into the mainstream, presenting himself as the safe and reliable face of crypto. who is working with the regulators? he was also in washington, in and out of washington, basically every other week in backroom deals with politicians on both sides of the aisle, trying to convince them why crypto was good for america. the whole time he was taking his customers money and using it to make incredibly risky investments. and they found out. and when they asked for the money back, it wasn't. they're more similar to the banks than i think we realized. you were mentioning nfts, i mentioned nfts, that's non-fungible token. can we get a third grade explanation to what that is? an nft is sort of like a digital asset that lies on. it's something called the blockchain. if you think about any sort of if you have a spotify song, you're not really owning that. but the idea is that when you own an nft, that could be a song, you actually own it. there's like a authenticity or a certificate that you do own it. on t

is my question are we sure that crypto friendly is bullish for crypto prices?een running a four years with uncertainty and open ended predictions. for going to get more clarity and guidelines are investors going to stay as excited as they have been about crypto? >> they definitely are, crypto and a.i. are the top two priorities in the trump administration partly because we want to be number one in the world and the two technologies. a lot of cash, billions have gone into the uae and the middle east is the rules are clear and a ton of talent has moved over the critically unclear regulation, that means people will move their talent back to the u.s. i more important, crypto will play a big part and what were going to do next. the second is the crypto active be proposed this is a certain percentage of the u.s. reserve will be held in bitcoin and that's what's driving the price up anything else. then we seen quietly in the background, the institutional investors that have actually made large purchases in bitcoin and put those into their holdings already in anticipat

crypto the capital of the parliament and accumulate a national stockpile of bitcoin as well.french capital firm called crafter ventures and is an early leader of paypal which is a payment processing firm that was bought by ebay back in 2002. he was also an early evangelist of crypto currencies, as early as 2017, he was saying that it feels like we are witnessing the birth of a new kind of web. bitcoin broke $100,000 for the first time yesterday and is currently trading below. in other news.... stop the press! the sale of the world's oldest sunday newspaper looks to have gone through. the boards of the guardian media group and its owner the scott trust have approved the sale of the observer to tortoise media. the weekly is changing hands despite repeated strikes by staff. in the uk, thames water has received multiple bids for its struggling business and has warned that it could run out of cash by next year. the scottish utility firm castle water, is understood to have made an offer for thames ahead of a deadline for potential investors this week. thames is the uk's biggest wat

richard: globally, we are supporting crypto adoption.on, cross-border payment, etc., etc. whether we reenter the u.s. market, that is a discussion. as of now we are focusing on global deployment. we are growing very quickly and very happy with the progress. this year alone, if you look at the net inflows into binance, more than 20 billion. if you put our net inflows versus the next 10 largest exchanges put together, we are 40% more than the 10 largest. we have seen phenomenal growth, a lot of new institutions being on boarded. with the u.s. going to announce the strategic reserve, i do believe that many countries around the world will start to deploy. not only countries, sovereign wealth funds, institutions, endowments. they will start allocating to this space so the future is it's really bright. lizzy: you have been in post for just over a year now. i wonder what you would say the biggest changes are you have lamented in that time. as you look ahead, are you adding new independent advisors to your board? richard: we have a strong board

and i'll tell you what, we are also going to unleash crypto crypto. i'm proud to stand with crypto. i'm proud to stand with bitcoin, and i am the only member of the united states senate who is in a bitcoin miner miner. i've got three miners hashing in west texas right now? and it is beautiful. and let me say to all of crypto at all of bitcoin, come to texas. texas is the oasis for bitcoin. number four, we will restore integrity to the department of justice and the fbi. if you are a wild eyed partizan who is a abused your power and targeted your political enemies at doj or the fbi, well, your bags because your job is done. and that means number five, we will enforce the law, especially against university across this country. the anti semitic protest we've seen at universities will end next year. if you violently protest, if you threaten your fellow students, you will be arrested, you will be expelled. and if a foreigner, you will deported. and we're going to say the department of justice and the fbi follow, the money go after the money, cut off the money. we're going to see universit

3% of advisors use crypto based on their own recommendations.pto exposure and over one third of advisors use etfs in 2023, sirruleo associates expects the vast majority to use bitcoin next year. to have it in your portfolio depends on your time horizon, risk tolerance and financial goals. tyler. >> thanks very much. sarat, where does bitcoin or crypto fit in your investment thesis >> i think 100% it depends on the client's risk profile. this is a volatile asset class that can have a short period if clients can have that risk tolerance and do they want it or not. this is not something that is going to be linear for -- it is very volatile. i think given where we are in the markets equities -- you need to understand your client's needs. needs. is that what they should have or not. >> let's move on to three stock lunch with sarat that has our trades today united health group the shares down nearly 15% over the past week and a drag on the dow president-elect trump's comments on the drug industry, and its middle men hope unh >> i do. we own it. i own

do they want crypto? do they want certain crypto assets and not others? that's fine.er to the market now. liz: how valid do you think the ripple xrp lawsuit that the s.e.c. filed was? >> i can't speak about any specific lawsuit that we're still engaged in and the s.e.c. is still engaged in a lawsuit with ripple so putting that aside, i think having been at the s.e.c. now for -- since 2018, it's been extremely frustrating being inside the agency and seeing opportunities that we had to provide guidance, to provide clarity and instead our approach has been almost entirely driven by bringing lawsuit after lawsuit which is a really expensive way for us to regulate and it's also not a particularly effective way. liz: you've been kind of lonely, haven't you? when i say that, i mean it's really been your voice as the so-called crypto mom and we go back several years where you would come on the show and you would try explain to people, to viewers, we wanted to give you this opportunity because it is something that people have wanted to invest in and now they can mostly with th

there's no protections in crypto. >> yeah. and we are -- we're three years after this sort of -- the post-covid inauguration of the pump and dump and the memecoin. and yet people are still falling for it. the argument i would make basically is anyone who actually bought this token, like maybe some people bought the token because they are fans. like surely that happened. in this lawsuit there's 12 plaintiffs who together say they lost $151,000. and someone lost 70k. like that's a ton of money. but the thesis of the story i wrote is essentially they were all trying to play crypto musical chairs -- not all. but playing crypto musical chairs to try to be the one that pull the rug on the other. and that gets at this larger thing that i tried to define. i think i did a good job of defining bag culture as this like modern social internet phenomenon. >> 100%. you lost your money? sorry. you do you, boo. you played musical chairs and there wasn't one left for you. sorry. you love hawk tuah girl? should have bought a t-shirt. patrick, t

currency czar, sacks firm kraft ventures in crypto a.i. i spoke with david sacks on this about crypto in 2022 here is what he said. >> your thoughts where the regulatory framework is going with error to incriminating. >> regulators, for crypto companies to innovative, you know -- regulation -- >> trump many tapping david per cue to serve ambassador to china perdue significant business experience in china former ceo dollar general top executive at sara lee reebok responsible for global expansion lived in singapore, hong kong see how tough he is on number one adversary, your reaction. erika: very excited about david sacks one of these promises made promises kept situations with president trump. he said that he would be supportive of crypto currencies going to listen to people who know most about them the representation from venture capital private equity i have been out there raising cal from communities over the last couple years, the destabilized nature of capital markets has had effect on founders, able to do to really innovate in our cou

, full of people that are low on crypto. so you can see what the choice of the s.e.c. chair, we are going to have a much different regulatory environment, and that's going to allow innovation it's going to allow trade fi, you know, the citibanks of the world, and everyone else to participate in this new asset class. and, you know, it's tough because you can see one hand, man, it feels frothy, and leveraged, a lot of stocks feel expensive. on the other hand, it feels like the rest of the world is just going to get, you know, the traditional world is just going to get a chance to play. >> exactly >> i think it's going to be volatile that end up higher not lower. >> two questions, what is the practical significance of the s.e.c. chair going to be do you think you're going to see corporate america seeing bitcoin on the balance sheet, do you think we're going to see bitcoin on the 401(k), what's the pragmatic pragmatic change we're going to experience >> our industry we're not going to feel attacked at everything we do. hopefully

think crypto is such a threat to them? i think there's dirty business happening with crypto right. you know whether it's -- drug deals or, you know, ransoms there's a lot of that. so that's i think that's kind of a black mark on crypto. but you know about when you look at the technology, the block chain technology, when you look at the ease of transfer, it is a legitimate currency and i believe that the people who are in place right now are certainly going to further legitimatize that and charlie i have to tell you some of the bullish calls out be bitcoin is a thousand up 50% sense the election. mike of galaxy digital of maybe a month or so ago he said that if trump is able to build a bitcoin reserve which he's talked about -- it could go to 500,000 a coin. another research resource that i read bca research said it is beginning to 200,000 a coin and there's no qualification for a bitcoin reserve. so when you look at all of these people it seems like the cone is going to continue to climb higher. charlie: also i don't like

it done. >> crypto-currency is getting a trump bump big time.00,000 for the first time ever. the massive surge happening after trump announced his crypto friendly fec chair pick paul adkins. joining me now lydia moynihan, a "new york post" financial correspondent lydia, first, explain to me out there. who may not be really quite familiar with this, still, years later, what bitcoin is and why are we seeing this surge now? >> bitcoin is a type of crypto-currency, i don't want to get too into details but basically it's the idea that you have a coin that's on a centralized ledger and the thing is it can be used without any intermediary. can you buy or send bitcoin without involving any government, without involving any bank. it's a libertarian idea basically restoring currency and that power to the people. and we have seen bitcoin, specific will he, the first crypto seen as the most reliable. we have seen it surge more than 40% since trump has been elected. that's because the past four years we have seen under biden's financial regulation they have

>> who is buying crypto? i think there's this idea that it's losers and their mother's basements, but that is not i will tell you, it's definitely not from what i'm hearing it's definitely not the people who are buying crypto. 23% of those in the upper income bracket have bought crypto compared to 18% in the middle income. just 14% of those in lower income are buying crypto. so the bottom line is, the folks who are buying crypto are wealthy people. they do tend to be younger, but they are wealthy people and they are making a lot of dough right now even if they are buying bitcoin or they're buying dogecoin. either way, those gains since election day, in part because donald trump is coming into the presidency, have been flat out massive. >> let us see if this sustains the market tumbles and it's weird ways. it's just like the polls. there we go. just kidding john hi so for many, this time of year is about giving back. >> but cnn heroes, an all-star tribute salutes five extraordinary people who put others first

conversation is moving into crypto for now. was at the station yesterday and two police officers were talking about bitcoin and how it was going to go higher. now let's turn from crypto to data security. data security software firm rubrics came out with numbers eating earnings expectations and boosting full-year revenue guidance. the market reaction up 34 present on the d. that is a record high. let's talk to the rubrics cofounder and ceo. congrats on the numbers. analysts like what you show with cross-selling here. many say you are the only game in town when it comes to cyber and data security. how are you seeing your clients pick up? >> thank you, caroline. another outstanding quarter. we are very pleased to not only have strong growth at this scale topline but improve the profitability and generate free cash flow. it's an exciting time for us. what is fueling the rubrics demand is the understanding that people will spend thousands of dollars but you need a resiliency strategy to ensure that when each happens you can still ru

and how the government will treat crypto.he went and had meeting with the biden/harris administration. the folks at work this for them in their presentation or in their communication they say very matter-of-factly ai would be so regulated only a couple companies would really have access to what they call the math behind it they would work hand in hand with the government they be the only ones allowed to implement ai in this country and he says to them how can you stop this that's out there from going to every mom and pop techies a software engineer he know it's s like to develop something in your garage they said we stopped theories of physics in its tracks during the cold war. we can do the same with this he said that scared him basically they have done is an all out assault on crypto they were threatening to do the same thing with ai that was really scary to the silicon valley entrepreneurs who have all, not all but so many have shown their support for trump it comes down to this relationship between the free market and fre

let's start in the crypto space. a pretty hot run. >> sara, crypto under pressure .on the day and 12% off its record so we are seeing a trend the past few days shorting bitcoin in the future market, buying up the prices alongside a slowdown in buying activity across the u.s. trading market with the premium turning negative according to data from crypto. coinbase, of course, going down and under pressure for the ay and on pace to end the week lower. sara, it was only earlier this the first time and more recently its record above $108,000 so i think traders are coming off the high of the postelection rally starting to focus on what happens now. we have a lot to look forward to in the new year by focusing in on how soon we get to see all of those things we are looking forward to. >> certainly got their wish in terms of appointments from the trump administration and they expect all of these things to happen. where do these price targets come from and how are they derived? we just heard eric recommending micro strategy. >> 200,000 is being floated a lot on the street and

and crypto czar.n french hill has been picked to lead the house financial services committee, he plans to lead an investigation into operation choke point 2.0, the alleged debanking of crypto company. but i want to get your take on what this could mean for the oversight of crypto, perry ann, because there is some expectation on wall street that doge comes in and starts cleaning house here as well. you just talked about the confusion between the securities and exchange commission and the cftc, the commodities futures trading commission, and who is really in charge in terms of oversight. would you as a participate in the industry support a merger of the s.e.c. and the cftc which is what one of the analysts i spoe with recently is talking about. he is watching to see if paul atkins gets behind the idea to merge the cftc into the s.e.c. he says congress rejected that idea previously but trump's doge commission could view it as a cost savings, perry ann. >> we're looking at it through the department of gov

i'm going all crypto, all the time. on friday i spoke to a bunch of high school personal-finance teachers who cannot even get their students to focus on learning what mortgages are because they're like, i'm all in on crypto, that's my future. >> what if it is the next thing? you have an asymmetric sort of opportunity. it can only go to zero and it can go up to the moon. >> so you're saying there's a chance. >> what i'm saying is just think about that, right? and if you have enough people behind you, if you have a government behind it why would you want to take the other side of that? >> okay, fine. let's say we buy everything dan is saying, that in order to do that and have a true level of success for the masses, you need smart regulation and some level of guardrails, and right now it feels like we are just going to let it rip. >> we can talk about there's a finite supply but at this point the price is really high. i think bitcoin is a little bit like a pyramid. the tech guys got in early. they're at the top. the masses