this had -- has been dubbed the ethereum killer. what took you with that protocol? what is it about solana and the growth profile that you like? jill: solana, from the get-go, has been solving problems. they have done a great job in terms of targeting developer acquisition. they ran a series of hackathon's and grant programs. they have been successful. they have over 1000 active developers in the ecosystem and that has translated to the growth of end-users in the ecosystems and in the platform. within the ethereum decentralized finance ecosystem, which has been around longer and is more well-established, there is about $90 billion in total locked value in that ecosystem. you have now seen over the last few months, the rise of solana applications to now have about $10 billion locked in there. the same trends hold true as you look at the user base, as you look at wallets, which is a good proxy for the number of users in any of these ecosystems. while it downloads. solana is seeing about 100,000 new wallet downloads per day. that is a rough proxy for the type of growth

bitcoin and ethereum have always been dubbed as the gold and silver. how much are we seeing institutional and retail money take more protocols more seriously? jill: when i speak to institutional flows, that does center around bitcoin and ethereum specifically, bitcoin most of all, still being the blue-chip, or the gold, as you put it, caroline. but increasingly, we are seeing interest from institutions in moving sort of down the ranks of the crypto ecosystem to get access to other layer-one protocols, many of which are coming and nipping at ethereum's heels in terms of developer adoption and end-user adoption and so forth. there you have the likes of solana, slow ventures is a major investor in . solana. you have things like polkadot, avalanche, coming for ethereum, and all those tokens have written those tailwinds. you also have app coins, applications that have been developed on ethereum the have -- that have their own tokens so your own ways of expressing views, not only on ethereum as a whole but of course on these specific de-fi applications and s

a lot of people argued bitcoin was great, but there are other things like ethereum.s it too soon to start talking about those developments as etf's? michael: i don't know if it is ever too soon. certainly the success of grayscale etherium, the largest ethereum fund in the world, certainly tells of the story that investors are diversifying away from just bitcoin and even beyond just ethereum. earlier this week, grayscale had its seventh, eighth, and ninth product debut on the market. we are seeing an acceleration amongst our investors that crypto is a thematic part of their portfolios and needs to go beyond just bitcoin and ethereum to other protocols as well. caroline: michael sonnenshein, thank you for joining us hot off the heels of the new grayscale investment announcement. from crypto to a company that is familiar with crypto itself, we hear from amc's ceo on how the company is recovering from the pandemic. that is next. this is bloomberg. ♪ caroline: more from milken. the amc ceo spoke to carol massar earlier. >> this is something much bigger. if all we do is in

john: avalanche is ethereum compatible and it is a way to basically become entry to ethereum. a lot of activity and atheneum, avalanche can easily provide the same ecosystem and sometimes native applications in de-fi and and fts, but giving them speed and finality. instant finality and speeds are probably 100 times faster and most importantly, the cost is pennies versus sometimes hundreds of dollars for one simple transaction. emily: what if the entire ecosystem debts regulated? is that a concern? john: great question. in the short-term, it is. in my opinion, if you have clear definition and people understand what is backing stable coins and transparency, i cannot see how that won't create even more adoption. obviously, stable coins now is one of the largest components. i can tell you, -- i can tell you, from talking with people who use this, they feel sometimes hesitant because they don't realize what is underneath the collateral that supports these stable coins, so they gravitate to a few that they are comfortable. if there is proper regulation and transparency into what is

stuart: what is with ethereum? it power had $4,000 today. >> people are building off of ethereum.ike both of them. it will clear, a lot of this depends on above 65,000. it is bringing a lot of momentum. with commodities, gold in 2004, it shot up. november, early november, it stayed strong through the end of the year. stuart: thanks for being with us this morning. we are two weeks away from the gubernatorial election in virginia and there is a surprise in the polls. republican glenn youngkin has caught up with terry mcauliffe. lawrence jones is in loudoun county, virginia. i know education is the big issue but what about inflation? has that popped up with the people you are talking to? >> reporter: putting up on screen, biden has dropped 11 points when it comes to approval rating is why that matters is the national approval rating started to affect the local level as well. we are in a dead heat in virginia. former governor mcauliffe will get youngkin, the republican. when you talk to folks on the ground they talk about education but also inflation as well as the supply chain. this

i'm thinking of selling some, not all, but some of my ethereum but we've had an amazing couple of days. since september i warned that the market hits a rough patch and it lasts through late september and early october. but once we get through the midpoint then we have to get more sang win. here we are. the calvary is finally here to save the day gregory in california. gregory? >> caller: yes kind sir. >> good day. >> caller: i called you just over a year ago on the same company when it was traded around $1,200 a share and you told pme it was a screaming buy and i'm an educated club member and i bought it and rode it up to almost $2,000 a share where it was oh, about a month ago so thank you for that. first of all if i sold it, i would have named my new jet ski cramer. but i'm an investor here i'm not a trader and especially with this one the street had to go up to 3,000 so i was surprised to see it collapse, not 5% like the rest of the market or 10% like other stocks but 25% it went down to the mid 14 hundreds on no news. >> i could tell you. i was an investor in the e-bay of latin ame

-- ethereum, right? bitcoin has been given the go ahead.see how it plays out, how regulation is sort of weird, sort of picking winners and losers. it plays out way to the favor of bitcoin and ethereum as opposed to others, and here's why. if you notice, cathy woods is not starting a xrp, you know -- [laughter] etf or whatever she's thinking of doing, right? she's doing a bitcoin etf. why is that? everybody knows, and we reported this fest on your show, i believe, at fox business on your show or cavuto's, that he personally lobbied jay clayton back in 2018 -- liz: so how must he feel about coinbase's move? >> well, keep bitcoin as a currency and not a security under sec rules. my guess is he hates it. one of the things about gary gensler if you go back and look at his regulatory history, he's a guy that likes to control stuff. the reason why, i think, the main reason why he wants to change market structure, force everything on to the exchanges, he believes it's more transparency. he doesn't buy the fact that it might raise costs because if y

. >> we will do gray scale's ethereum trust the trust was trading at a 5% discount to ethereum fourthnfts, most are created on the ethereum platform >> thank you for that. r r rob. >> faang lowest since 2018 >> okay. jimmy. >> i liked what i heard pete saying about vegas wynn resort is my play there >> there you go. i knew you were out there recently, too. have a great weekend, everybody. see you on the other side. "the exchange" starts now. >>> thank you very much, scott hi, everybody. i'm kelly evans, here is what is ahead this hour. jobs, the economy adding only 194,000 jobs in september, enhanced unemployment benefits ended, most kids are back to school, there are millions of jobs openings. why aren't more roles being filled what does it mean for stocks, bonds and the taper we'll ask. >>> we're talking tesla with an analyst bullish on the stock for what he calls the company's apple-esqu

number two, i know you love ethereum. >> yes. >> caller: plays all bitcoin and ethereum and they don't sell my question is should i double down on hutt being the best performer? >> i look at something like hu i think you pick one and buy them buy fractional i don't want to buy a derivative because i want to know what i own. if you want to own bitcoin, buy bitcoin. tim in wisconsin. >> caller: boo-yah, jimmy chill. >> what's happening? >> caller: first time caller >> okay. >> caller: i have a somewhat specular pharmaceutical stock recently got approved in europe and went instantly to first line treatment. trials are done in the united states looking for nda next couple of weeks. citigroup elevated the price target from 13 to $20 a share. currently sitting at 5 bucks a share. what do you think of lxrx. let's get them on the show >> you know i like these companies that aren't straight up but have a lot of great things to say. let's go to jim in new york. jim. >> caller: hey, is this jim cramer >> yes, jimmy. what's up. >> caller: jimmy how about those cowboys? >> what do you think about b

and there are multiple decentralized platforms that really could compete with ethereum, bitcoin.tty sharply. another is algorand. that feels like solana two to three years ago. algorand is one that's much cheaper at about $1.90 it's using that as support and i think on a trading basis you can do algorand as long as it holds above $1.50 both of these are available on coinbase >> so many cryptocurrencies. thanks, gentlemen, great to see you both and for more "trading nation," you can head to our website or follow us on twitter >>> up next, more on today's big market reversal. it's green across the board. we've also got a stock soaring about 20%. we'll tell you about it. don't go anywhere. >>> and now the latest from "tradingnation.cnbc.com and a word from our sponsor. today, things can be pretty unexpected. but your customers, they still expect things to be simple. and they want it all personalized. with ibm, you can do both. businesses like insurers can automate it processes across clouds. so agents can spend more time on customer needs. and whatever comes your way, you've got it

stuart: why has ethereum come on so strong recently? this was we saw the launch of a new etf that has been received with immense popularity, almost at the outset, open interest served and investors looking for ways to play this and will go to the bright shiny objects like bitcoin and ethereum which is number 2. as more capital comes into this, they hold resources, it will grow in the amount of that is going to grow. stuart: that is greg smith and this is the stock market opening on friday morning, 9:30 eastern. in the early going, it is unchanged, fractional gain of 10 points. the nasdaq composite taking a bigger hit down the third of one% because interest rates are rising. the yield on the 10 year treasury close to 17. they respond that way. it is an all-time record high. you are down 21%. >> users have to consent to being trapped, and that is less reach. that advertisers were hit by supply chain and labor shortages. they are down two. industrywide, if you look at the report that they had $1 billion for the first time, 306 million dail

so i do think coinbase directionally is a bet on higher prices for ethereum, bitcoin, solana, on andn and on i understand they're an exchange and a brokerage, so it's a two-way market, but in truth, the higher these things go the more options there will be you have 68 million verified users on the platform. does anyone bet you don't get to 100 million. 462 billion every quarter in trading volume, 10,000 institutions are already working with them on custody 160,000 ecosystem partners and they're in a hundred countries and i think they have enough of a head start that the market cap, which is large, is justified. people understand what their place in this seek system will be in one year, in five years and ten years. so i like it technically, i hope it continues to move higher off of those lows, if it violates i'll get out and reassess, but that's what i'm doing >> let me ask you this because you make about as compelling a case as i've heard anybody make for a reason to own coin base. >> i was just -- i was a stockbroker for ten years. i'm very good at pitching stocks >> i know you are,

ethereum, nfts are minted every day on the ethereum block chain.rencies, you don't know what is going to happen. it's the wild, wild west. there's no rules. it can get crazy. in the wild west it was hard to survive. many counts aren't going to survive the regulation that's about to come. imagine a world where we use hundreds of different currencies. i can't imagine that world. that would of be so difficult and complicated for people to track and transact. so i think there's only going to be a few big winners, why you need to stick with bitcoin and ethereum. maria: we'll get more clarity. s.e.c. chair gary gensler will testify on october 5th in front of the house financial services committee. this is going to be topic a on the agenda. lee, mike, luke, great to see you gentlemen, thanks so much for the great word on wall street. we've got much more coming up. more drama in d.c., house speaker nancy pelosi delays the infrastructure vote amid in-fighting within the democrat party. claudia tenney and jim jordan weigh in on what is possible. then the nat

he likes ethereum. gas prices showing no signs of easing. not in california. madison al worth has a report on 5-dodollar gas where you will be hit with it. leaked documents shows thousands of migrants are on parole. that grants them temporary status and get a work permit to boot. >>> violent crime in new york is so bad, some residents say it is the wild, wild rest. look at this. >> innocent people going to work, minding their business, getting pummeled by people for no reason. >> people getting shot. shootings are up. killings are up. stuart: who is responsible for this? i will ask new york congresswoman nicole malliotakis. she is on the show next. ♪. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. ♪ ♪ there are beautiful ideas tha

>> we actually look at it in solano, avalanche, all taking market share on our platform from ethereumocols and other projects that are coming out we're seeing more and more adoption of that on the platform and our assets for those protocols are increasing every single day >> interesting so i guess as we head into the end of the year and beyond, i mean we just had fidelity on yesterday and they're talking about the possibility of bitcoin hitting $100,000 where do you see it going? >> interesting question because i said it was going to be $100,000 six to eight weeks ago and i still believe in that, i believe that bitcoin will be at $100,000 by the end of the year. we're seeing that increase in price, and i'm -- i am well behind $100,000 price target by the end of the year. >> all right we'll see. we'll see how volatile it is if it does, indeed, get there we appreciate it >> thanks for having me. >>> coming up on "tech check" a big show including an interview with lebron james business partner maverick carter with his company getting funding from nike, epic games and others. on ipo watch

ethereum is a block chain.at copyright, and it is built on top of a rails system called block chain or ethereum. and so for a lot of people, you know, that's an exciting opportunity to buy these al alternative assets. again, it's anti-establishment, it's not regulated by any one institution. >> well, it's not regulated but something that -- sorry to interrupt you, we're running out of time, but it's also something that surprised me about this. this is something that's really appealing to young people but it's terrible for the environment. young people care about the environment, so these two interests to be competing, i don't think enough people know it's horrible for the environment. >> that's right because in essence you're paying what we call a gas fee, which is a mining and transaction fee to actually not only get the bitcoin but then if you are making a transaction, for example, for an nft, you have to pay fees to put that up onto the block chain, and it's essentially like crude oil, right? you've got to p

o others might think about ethereum futures product versus a bitcoin futures product, how would you talks have been very proactive working with industry participants like us. i think they have taken their time and been methodical about introducing what will be the first bitcoin futures product, so i think it stands to reason they will also be proactive and thoughtful about bringing other products into the market as well >> do you think this makes it harder for the chinese crackdown though continue? >> what we have seen out of china is another round of prohibitive class against the asset class. time and against the resiliency has moved to other parts of the world, and i think we're seeing another cycle of that, as we view as a good things. this smooths some of it out and not have it so concentrated. >> michael, great to see you we'll see what happens in the next 24 hours. >> thanks, andrew. >>> and a couple stocks to watch. disney now after barclays downgraded it, citing concerns about a significant slowdown in growth no its streaming service. >>> supermarket operator albertson's offered

paid down my mortgage with my profits from ethereum.ou can use it as a heej against inflation up to 5% of your savings. all that said, i didn't buy bitcoin as inflation on insurance. i was gambling i have no idea why these things went up. there's a lot of over enthus enthusiastic people that want to buy and sell higher. consider the curious case. you don't think people took them up six. total six while customers thought it was cool, they weren't interested in using crypto to pay the bills. just scrapped it sure some institutions try to pressure you i tried to buy the token or nft of time magazine i went as high as 25 grand before my wrife had a fit. correctly, i walked away i immediately forgot my position entirely and never traded it back into dollars. that turned into one of my greatest hits ever i say it's better to be lucky than good. nft auction, i haven't seen many transactions conducted with crypto that said, i don't know how anyone can believe these crypto currencies are real. as we saw the other day the bulk traded on robin hoo

. >> whether bitcoin and ethereum survive, i'm not sure. >> the risk reward potential far outweighs any of the other things they may be able to look at. david: there you go. a lot of voices in where you want to be across these asset classes and in the market. aaron brown joins us now. the portfolio manager. good morning from the asia-pacific. let's extend that string of soundbites. where will you be across asset classes? >> i still think you want to be invested in equities. more cyclically oriented equities, particularly those exposed to commodity inflation, will outperform as we move from midcycle into later cycle environments. yvonne: i'm taking a look at the third quarter. we saw stocks and bonds were out of favor, yet commodities outperformed. does it put the question, the 60/40 strategy portfolio, is it no longer attractive? >> no, i definitely think it still is attractive in these environments. with respect to before, what you have seen is duration has moved off of the lows. i expect duration from here is likely to be more range bound. in real less held scenarios, where you see th

scan the qr code, pay with theory of him -- ethereum. >> on fungible tokens run on blockchain technologyke bitcoin, each can be a unique digital property. one nft can represent ownership of a specific work of art. nft's abilities to -- has led to a boom in digital art collectibility. nft art started making news in march when -- a signal for -- singapore [indiscernible] [indiscernible]-- >> whose work encompasses street arc -- street art started offering nft's in november. >> it's not even 3d, it is for the, you can get -- four d. you can get the whole story. >> a report from blockchain development company consensus says the nft arch market was up more than 800% from $52 million in 2020 to $490 million in april 2021. christie's announced in september it had shattered the $100 million ceiling in nft sales worldwide with its first nft auction in asia hitting a total of $15.6 million in sales. outside of asia, switzerland had its first nft auction the same month. nft soaring popularity has raised concerns. some credits are calling it just another commercially exploitable hype, while others p

. >> there are cases of crypto currency, ethereum, you can pay me sometime without going through thebut not crazy money. >> buyer beware. i agree. outside of bitcoin, ethereum, those are the two - dogecoin, there might be some cases of adoption whether you can buy, mark cuban saying you can buy maverick merchandise using dogecoin. neil: the premise that only young people are getting into this, very dismissive view of my generation. >> we have low input yesterday, didn't get our thoughts across. neil: no need to shout. your in primetime? >> on television or something. neil: i got a call. we've got to go. you have to go right now. i will be right back after this. it will probably be a new host. stay with us. we are up 24 points, bitcoin rocketing away. all those young frisky buyers after this. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire municipal bonds don't usually get the media coverage matchin

believe in some of these cryptocurrency protection or sound money currencies, if you believe in ethereumacts, there's more people that are starting to understand the technology, the communities, nft adoption, all of that is growing around ethereum. and i think you're seeing more buyers and holders in this asset class that's making it more interesting for people looking for volatility this has a 94% volatility index here so, four or five times more volatile than the overall marketplace. but i think when people are looking at -- it's sort of interesting that even though you have high volatility and even with interest rates rising, you have an asset class that many people said, look, this is trading like a high bit of tech stock. in this type of environment where interest rates are rising you're seeing it stronger, moving up to the 55,000. i think that says a lot about the current holders and a lot about institutional participation. >> it does get hit on days where rates do spike sometimes >> it does get hit there's a couple of interesting plays off of this. coinbase, for example, seems to

. >> we've said we're going to accept, before year end, we will accept bitcoin, lite coin, ethereum,e coin. all by right now for amc gift cards. by year end, bitcoin, lite coin, i think doje coin in q1. we're entering the 21st century in a big way >> adam aron, thank you for coming on. we'll see you at the movies. thank you. >> brian, thank you. adam, great to see you again very good skier, i should say. happen to know >> certainly showing the way that he can play the -- >> he can slalom with the rest of them. >> fascinating to watch his career here. this is me still ahead, watching the skies and screens. united airlines and netflix are reporting after the bell is netflix moving subs to rivals like disney? we'll break it down. stay with us do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don'

continues to remain a top priority eric said his biggest regret is not doing more to secure his bitcoin, ethereumone that he didn't follow on was a hardware device used for cold storage. >> i meet myself up every day, i have my friends' voices in my head, eric, put it on cold storage and i just didn't. >> she says cold storage is virtually hack proof you get a key to buy and sell crypto and you store that key offline >> when you keep your funds in cold storage you have access to them. they're offline. away from hackers. >> of course, the problem with even that solution, owners can lose their passwords or something can go wrong with the device itself. >> as far as the richardsons, soon after the interview, coinbase restored access to the account. they received a credit nowhere what they lost. coinbase >> i felt like they kicked sand in my face >> coinbase told the richardsons it won't refund their savings because the company was not responsible for the hack customers have filed 12,000 complaints against the company with government and consumer agencies since 2016. meanwhile, an additional 1500 com

there, you pay with ethereum, and you have to have a wallet, a new way of purchasing artwork.or non-fungible tokens, run on blockchain technology. unlike bitcoin, each can be a unique digital property. one nft can represent ownership of a specific work of art. nfts abilities to -- have led to a boom in digital art collectibility. nft art started making headlines in march when christie's auction images to a singapore-based crypto investor who paid $69.3 million worth of ether. this, artist whose work encompasses street art and stencil, started offering nfts in hong kong in november. >> it is not 3d, it is 4d. you can get the whole story of how you approach your work, your process and your methods. stella: a report from blockchain development company consensus says, the nft art market was up more than 800% from $52 million in 2020 to $490 million in april 2021. christie's announced in september it had shattered the $100 million ceiling in nft sales worldwide with its first nft auction in asia hitting a total of $15.6 million in sales. and outside of asia, switzerland's art basel

it is comparable to ethereum you can build on top of it it's seep as sort of a competing blockchain networkdevelopers use but a good way to think about it, the way it was described to me as sort of similar to the browser wars in the ages of the early internet was it going to be netscape for explorer you are seeing a similar dynamic playing out with the blockchains, so a, car danault, algoran. competition there, but it is absolutely helping the price of some of the smaller cross examinations in this case it helps the price. >>> ahead on punch -- the list of top 100 financial advisers. we will focus on a group focused on sustainable and responsible investing. >>> and tillray has been struggling, it is more than 80% off its highs. comments from the ceo on the quarter next working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue when he retired after 47 year. now he's showing a new generation what recology is all about. as an employee-owned company, recology provides good-paying local jobs for san franciscans. we're proud to have built the city's

. >> whether bit coin and ethereum survive at the end of the day i'm not sure. >> the risk-reward potential far outweighs any of the other things that they may be able to look at. shery: some of the high-profile guests attending the global invest conference. spooky season may just be getting started. alpha trade c.i.o. max gokhman joins us from california. max, always great having you on. i mean, we are just a few weeks away from halloween. after all. so i just wonder, though, the fear, is it going to be something more substantive like a correction coming up or just more volatility and sideways trading? max: sure. i think we could be in for a by of both. on the -- in for a bit of both. on the one hand this inability of the markets. you accept that that is very likely to -- the fed is loophole it -- likely to taper in november. we saw it in happen in september. weirdly a day after the actual fomc announcement we saw the curve really steepen. and then we also have the issue of earnings. we've seen earnings revisions really climb in the first couple of quarters of the year. but as we're now se

>> my thoughts, talk about bitcoin and ethereum, regulation is around the corner and in the sec, youstor to build out, how you access bitcoin and you will see a lot of regulation coming. you can see 30 or 40,$000 on bitcoin. in the long-term buying opportunity at any price level because in the long term once crypto regulation comes you will see a lot of money flow out of smaller coins and flow into bitcoin and ethereum, the other coins not so much. stuart: what is up work and why do you like it? >> small business is bouncing back with their struggle is finding quality workers. they can negotiate benefits like pay if they want to work from home or not. it is usually 5%. they work for themselves. they reach out to freelancers and people are trying to be more independent and work for themselves, no more 9-to-5, they can work when they want where they want and choose how much they work for. it is above the 50 day moving average and the 200 a moving average. that should breakout all-time highs. more room to run. stuart: it is an agency for freelancers on a short-term basis, that is what u

it's supporting ethereum based standards and will add other block chains down the road they're starting with a wait list nfts have really taken off this year they're essentially digital collectibles it's the latest move by the company to differentiate in a pretty crowded crypto trading field. competition is heating up with robinhood, square, sofi and others it's another way for the company to diversify revenue and adds competitive pressure to open seed, which is still a private company right now. the move comes amid more regulatory scrutiny for the industry coinbase saw that firsthand last month when the sec threatened to sue the company over its proposed crypto lending program. today, coinbase is seeing delays on its platforms with transfers, buys, sells, deposits, withdrawals and some trades. we're keeping an eye on that >> any explanation from the company as to what's causing that and what would they bring to the table in the space that these other marketplaces doen't offer? >> no comment from coinbase. they sent us and said there's degraded performance for a full, when it comes back

ethereum higher by just a fraction. litecoin down just a fraction.ing about indexes the nasdaq appears to have the lead. dow up 92% since march 23rd lows of 2020. s&p seeing a gain of 105. nasdaq up 124%. but the come from behind winner, the little guys, the russell 2000 small and mid-caps with a gain of 133% since the march 2020 low. let's bring in brian smollett. river capital management with some of his favorite names. semiconductor timing company. i looked at this. we were talking about price to earnings ratios this hour, 73, that is kind of rich, is it not but you love it? >> it is expensive at 73 times earnings. what we like in small caps those earnings estimates looking out 12 to 24 months could be really inefficient. this one is inefficient. the whole market of timing device are moving from quarts to silicon. the street has 25% revenue growth next year growing5% this year. we think that revenue estimate is way too low. liz: i got to know, do they have a competitive moat? i don't think many companies look at their peers, intel, xilinx but i'm

ethereum and litecoin also moving higher.w he's telling me he has to wish some wall street big wig -- who are you sucking up to now? >> let me tell you something, this is a fox news alert right now. it's kenny g.'s birthday, as in ken griffin from citadel, one of the greatest financiers of all time. liz: we really want him on the show, obviously. [laughter] you disappointed some of the music if fans. >> no, this is the guy. kenny g, i think he's worth $20 billion -- he's 5 if years young. -- 53 years young. make billions and billions ask billions more. happy birthday. [laughter] all right. got that out of the way. liz: all right. let's get to -- >> and headache your billions -- make your billions off payment for order flow. [laughter] liz: okay, that needs to go on the gag reel. [laughter] pronto. can you get to the et, the that's on bitcoin futures, right? >> and people think this is going to be approved by next week. i mean, that's what we're hearing, bloomberg reporting it. it's kind of interesting, we already reported tha

about $249 a share obviously, the big surge in bitcoin in particular, but a lot of the others like ethereumnd bitcoin through 54,000 and that is helping drive many of these stocks like mara, like riot block chain and so forth. it's great for coin base, and it should be good for robinhood, as well and this is the one we're citing and 250 calls that expire this friday. i'm in those calls, scott. >> brenda, you're in coin base, right? >> we are. this is an underappreciated opportunity that no one talks about. crypto world speak to different languages and we've seen so many people come to us with tremendous amount of wealth they've we ecreated in the cryp world and engage the traditional finance world and no one has a good solution except for coin base so we really think that presents a tremendous opportunity for the company in terms of growth and that institutional side of their business. >> joe teranova, are you in coin base >> one of the best trades for me this year was at 3.25 and quickly selling at 3.18 and saved a lot of money there scott, you have to acknowledge there's been a lot of dis

for some of these major defense names we'll ending with nice moves in the crypto space bitcoin and ethereum are on the move today. >>> president biden unveiling the framework for his highly anticipated social and climate spending bill. after months of negotiations between factions in the democratic party, ylan mui joins us now with everything we need to know. >> reporter: kelly, that framework does include what he's calling historic investments in things like child care subsidies and extension of the child tax credit as well as over $500 billion for climate provisions it also includes ways to pay for that saying it's fully offset and that includes a new corporate minimum tax, a new surtax on millionaires as well as potentially a way to reform the international tax code but it's unclear if this is going to be enough for progressives they just got out of a meeting in which they said that they do have the votes to sink a vote on an infrastructure bill because they want an iron-clad assurance that this broader package can actually pass. as of now, the president's framework does not seem to be e

retirement accounts but this enormous interest in resave for crypto stocks and i favor bitcoin and ethereumrprise who is surprisingly in favor of dogecoin on the conference call, the ceo vlad tenet touted the successful rollout 24/7 live support, where customers can get help on any topic, including crypto. given he often talks about the huge interest in dogecoin, i have to wonder, what kind of advice are these people getting? is robinhood telling them about the value of diversification maybe investing versus speculation, hazards of options, about owning stocks as, say, a great way to build wealth? about the stuff we do for the club or some of the rumors or things we talk about here? the old robinhood company was a company that really was just terrific it got people started as investors by letting them buy shares, even fractional shares in a company they wanted to earn for the long term. the new robinhood want to declare 22 million souls out there chasing what's hot i'm glad safety is the first priority, that's good but if dogecoin is the head of the realm, what do they look like? or are the

ethereum hitting a new all-time high bitcoin up about 40% in october on pace for the best month of the year plus weigh in on facebook's name change more "techcheck" is next hey i'm joe montana. when you get to be our age, you have little patience for nonsense and inefficiency. after years of practice, you become a pro at pretty much everything. so when i qualified for medicare, i got with wellcare. wellcare is no nonsense. they're pros at putting everything together to make things easier. their plans include things like prescription drug coverage dental, vision, and hearing coverage. it just makes sense. ♪ ♪ yeah. do you want a medicare advantage plan that just makes sense? then be like joe montana and go with wellcare. wellcare can offer their members dental, vision, and hearing coverage to make things easier. it's a no brainer. go with a no-nonsense medicare insurance provider. call for a free wellcare guide today. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in

a doge coin or a shiba coin and you will see bumps in the road and at the same time the bitcoin, ethereum and all of these up and coming defy coins, coin is the best place to make the investments in these coins and we see massive network effects coming into the business. >> glen, it's scott wapner welcome to our program it's nice to see you again with all due respect on coinbase, i still can't get over the move we're seeing in naked wines in real time it's up nearly 27% on this mention. i've always thought of you as a pretty astute technology investor, just given where we are on nasdaq and where rates may be heading, how do you see tech investing nasdaq stocks in general at this particular time? >> yeah. look, i look at it and we've been coming through a sort of period of tough comps in e-commerce sector, for instance because we're anniversary, and so we are one or two quarters away from that being over and whenever a headwind or tailwind is going to come to a point where it switches fractions, and the investor will start anticipating that. so i think the headwind on comps for e-commerce

compared to what the dollar we've had a free floating exchange rate since the '70s it's like bitcoin or ethereumulation. i agree it needs to happen i speak to every single cybersecurity company and the whole industry is adamant cryptocurrency is almost always used for ransomware payment. that's the government's fault. you want to stop ransomware payments, you need to crack down on the businesses that break the law. plus i think there's an amazing opportunity for any big bank ready to get into the game we have stablecoins. people use them to conduct transactions tether got sanctioned by new york state and the company behind it no longer allowed to do business here tether is backed by tens of billions of commercial paper we have no visibility depending on what commercial paper it is maybe it's exposed the evergrande fiasco. something issued by a trusted financial institution. this could be jpmorgan's moment. jamie dimon missed the square revolution because the younger staff didn't bring it to his attention. will the same thing happen with crypto he could own the entire market say jpmorgan is going

i think it is smart to look at alternative chains to ethereum that support the nft growth. support nfts. dive down the rabbit holes. see which projects help those systems grow and bet on those. charles: jason i talked about the suits coming into this. climbing on the bandwagon, you see them on financial television explaining all of this now. of course they were dissing this whole thing a couple years ago. on that note citadel's founder slammed cryptocurrency. he said it is jihadist action against dollar. he said if the youngsters had passion towards crypto would make the united states stronger. what is he missing? you sort of talked about this. this is the attitude. does this make the united states stronger. >> i don't ask my grandmother what the next great cell phone technology is. when i hear these guys, the bubble gang participants, where is peter schiff? charles: [laughter]. we got to get you and peter back together. meantime, it has been a fantastic having you and wendy together. wendy, you're remarkable, great stuff. i appreciate it. learned a lot from you. congratula

>> i'm invested in quite a few of the different coins i'm obviously invested in bitcoin, ethereum, solanahe space i like to go where the young developers are going so i'm very cognizant of what they're doing and what platforms they're working on >> let me ask you one final question and i didn't realize that you're on the board of bill ackman's holdings spac we know what valuations are and you're talking about them with some of the biggest investors in the world all week long. does that make it more difficult to find a target >> i think it is always difficult to find a great target and it's not as easy as it appears. we have this big spac run. bill is an extraordinary investor he has great instincts and we have a great board and we've been incredibly careful and as you know, we've had a deal with universal music and we had some issues in getting it approved. so we reversed it to bill's fund which turned out to be a phenomenal investment. rid now they're looking at a lot of different targets we do have a very large spac at 4 billion. we've turned it into a spark, and i think bill's being ex

while i don't think that answer is the bitcoins or the ethereums, the reality is gold is not handlingios right now. i think gold is not the thing to hold right now. i don't think some of the bitcoin stuff is right either, if that's what you are looking to replace it. >> charles: milton, institutional investors are rushing in like gangbusters, venture capitalists. i read the funding have gone through the roof from hundreds of millions to billions. at least are the credibility questions over right now? do you feel like someone who has championed this space, you took a lot of slings and arrows from this same institutional type that you can finally say don't question their credibility anymore? >> yeah, look, scott, i will take the w all day. i'm sorry, but i will take the w. [laughter] >> i think we are definitely at the point, 1% of global aum across all asset classes is now in crypto. of that, 50% is bitcoin and 50% is everything else. crypto is here. 20% of americans own bitcoin. this is no longer fringe asset class. this is a diverse asset category that has publicly listed equities in

remember we were making ought those $64,000 questions -- >> i sold a chunk of my et ethereum it feelsthusiasm around crypto that i picked up at milken, taking it seriously not necessarily bitcoin, but cr crypto >> dollars versus bitcoin. >> i don't know what that means. >> when you're a younger person, do you think the dollar will be worth more >> no, i don't think so. >> how many mortgages did united wholesale mortgage write with crypto >> six but it's early days. >> billions and billions of mortgages, but only six that -- >> doge, you saw that at milken. >> i know there's people at this table that think that stoke is hopef -- stock is overvalued. >> i was listening i have this thing in my ear. i hear everything you day. >> david, we've got to go. >> we've got to go. >>> vix close to 15. let's get to bob. >> a bit of a flattish open, carl, but we are knocking on the door of new highs. flattish open here, health care l leading, tech is holding up. we're 0.3% from the new high so we're six points amp from a closing -- a news historic closing high the reason it's been happening the earn

not the same story for ethereum, currently down by 0.2%. plenty more road ahead.rg. ♪ haslinda: there you have it. markets in asia are mostly higher, up by more than 2%. a quick check of the headlines. this company has ramped up its capital base after chinese regulators wrapped its record ipo and ordered an overhaul of its sprawling operation. the fintech giant got approval to raise the capital and told bloomberg the mobile better support its future growth, with the money coming from its own capital reserves. and lance burstein is seeing a crop of its fixed income team leave, including veterans, as the farm -- global debt team restructures. eight people left the firm last week. auntie anne's bernstein says -- alliancebernstein says it is adding a new team. an indian builder of renewable project has been acquired by mukesh ambani as his reliance pushes further into renewable energy. this gives the company a $700 billion value. the company is now valued at $352 billion. rishaad: keeping the indian theme going, we have a big week. let's get to david ingles, who has a

. >> whether bitcoin and ethereum survive, i'm not sure. >> the risk reward potential outweighs any of the other things they may be able to look at. haidi: more of a cautious tone from some prominent investors. one of those we spoke to from blackstone, the president saying this feels like a good time to start selling some assets. he says it is a liquid environment. he is saying caution coming through from expectations of fed tapering and longer-term rates will start to rise. i thought it was quite a cap yacht because he does not feel this is the top of the market. there are clearly some increasing concerns. shery: i think it has become difficult for analyst investors to make up their minds of where we are at in the economic cycle. we continue to see this stark divide between bulls and bears. you were talking about uncertainty with the fed tightening, with the debt ceiling in washington and you have improved and covid trends and an economy that is still chugging along in double digit earnings growth. not surprising we are seeing gains and losses in the s&p 500 of at least 1% for four st

gorman is out of touch, and the percentage that's ethereum is actually 10, 15, 20.in part because the younger people don't believe in the dollar they watch the $4 trillion this and that, and they say this is a better investment than the dollar younger people just have -- i'm concerned. >> how about the news that the s.e.c. will not contest -- >> i think the short-term buying is elevating when the etf is creating, the idea is there will be a pop, and they can sell some of their bitcoin. there are some trading in the name, obviously. but the real blowback is maybe the older people are really out of touch >> we're going to find out it's been a long trip back to 60 the big board is -- [ cheers and applause [ bell ringing ] >> it's loud down here >> yesterday was a day that people said, maybe it's over i don't know if it's over, but there is excitement. if you listened to the goldman call, we're in aera where people are saying, you know what? you've got to own stocks >> well, they want to own them today. >> you know the south china -- you saw the papers saying that there

we are seeing a bit of a rising ethereum. up about .3% for the galaxy crypto index.seeing this latest leg higher when it comes to this crypto space as we see the proshares etf preparing to launch the bitcoin futures fund on tuesday. this would be the end of a wave for those who are looking for security that tracks bitcoin on the u.s. stock market. shery: the sec also releasing its highly anticipated report on those meme stocks that created a trading frenzy in january. debunking many of the conspiracy or is these -- conspiracy theories around gamestop and others. it also supports greater scrutiny of regulators. su keenan joins us. the report changes the narrative. so, it wasn't a short squeeze? su: it certainly throws cold water on the theory that we all believe that the beginning of the year that an army of retail traders are waging war on the wall street short-sellers, buying up shares of unloved, struggling stocks like gamestop, amc, and others, and forcing the professional traders in a massive short squeeze that sent stocks higher. there were posts on reddit and t

>> it is and a great reason to trim i've been selling ethereum and took some profit of bitcoin and boughtarm. real estate seems to be peaking. according to various reports maybe zillow i think that real estate is more timeless and valuable in inflation than these might. >> sure. a disappointment on housing starts largely due to multiple family on fire you mentioned zillow today downgraded down to neutral many unanswered questions in the near term. >> why not slow down than stop altogether raises a good point. before chairman gensler, i think if you get all of congress against you you have a ten-part series in "the wall street journal" to shame you every day and people think you're trying to ruin society is how you get the stock going. facebook is unstoppable! mark zuckerberg might be saying bring it on! we want more hearings. we want frank. >> that's a high for the month. >> i know. is the journal out of bullets? tried to get teenagers to watch like snap? i don't know maybe that's all she's got. >> as we talk bito is open with a 41 -- yeah opening at 41 i guess. we'll track this. >> yeah.

be here for life, but when it pops i think it's good to be much lower along with the other one is ethereum. neil: you could've said that all the way up, i understand you were among the first to say don't put your kids education, that depends on whether you like your kids but i did get what you're saying but it is climbed the wall you don't see that lasting? >> my jealousy is showing i wish i owned it ten years ago but again i have to pinpoint what is behind something and inspires pain a higher price five by microsoft right away earnings and with the guidance looks like i would like one person to answer the question what is behind bitcoin by somebody paying a higher price will still haven't got the answer, but people are adopting them i promise you if it drops 50%, it went quiet when it had a big correction recently, if that happens again it'll go quiet again i'm not saying it's not going higher, just be very, very careful with something like this. neil: adele should not take her future royalties and bitcoin. >> what is the 80000 today. neil: $82000 a day. neil: that is gary kaltbaum kind o

discretionary spend is coming back ahead so, in other words, people stillant baying i'll use ethereum's for investment. some say different speculation. >> some would. >> but i likethis company very much i think it's not too late to get in it. what size company is -- [ cheers and applause >>> let's get the opening bell and the cnbc realtime exchange [ cheers and applause [ bell ringing ] >>> jim, one big question for a lot of people is how the market is absorbing some of these hawkish moves out of the bank of canada, bank of new zealand, bank of england? >> what a great point. the stock market is disassociating itself from what is going on, but that is typical of these two weeks >> that chant gym, gym, gym, is that what they're say? yeah. >> first apple, amazon, that's what we're focused on, otherwise we would be focused on these and what's going on happen we do have a lot of people saying housing is going to get hurt. >> mortgage rates now highest since april. >> yes. >> but your point is -- but the belief that companies can handle it. >> black & decker is raising prices next quarter

. >> i am selling ethereum and we didn't talk about toast, the way to be able to handle a lot of restaurantsof sale not ours. >> we'll get into tonight, "mad money," 6:00 p.m. eastern time coming up, we will talk to the ceo of grocery giant albertsons reporting results today. big div hikes. back in two minutes. ♪ ♪ ♪ ♪ with a bit more thought we can all do our part to keep plastic out of the ocean. ♪♪ ♪♪ ♪♪ - [narrator] introducing the grubhub guarantee: our promise to deliver the food you love on time, and give you the lowest price, or you'll get $5 off your next order. >>> good monday morning. welcome to another hour of "squawk on the street. i'm carl quintanilla with morgan brennan and david faber who is live at the milken institute global conference today. a drop at the open but recovered a touch. dow down 100 as we got energy costs across the world rising, china gdp was weak, but it's a big week ahead from tesla, snap, proctor and intel. david? >> meantime carl, we have data out just a few moments ago diana olick is here with me at milken and has that for us >> david, it was a surprise

i think bitcoin's going to stand tall, ethereum, maybe another one, but most of them are going to go by the wayside. neil: all right. we shall see. it's a bumpy ride, so don't use the kids' education money. it depends on how you feel about the kids, but we'll watch it closely. gary, very good seeing you, my friend, on all of that. the. >>> you've heard about these vaccine mandates and all, some of them have deadlines. by the end of today, health care workers in new york are vaccinate or out of a job. new york city schoolteachers have already taken their case to the supreme court. now what happens? after this. ♪ ♪ when you need me, darling, can't you hear -- ♪ the love you gave me has saved me ♪♪ ♪♪ ♪♪ ♪♪ that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy.