is are mastercard and visa fintech?f course they are there are software companies working on technology problems too. >> it will be interesting as you continue to talk to him if there's a point later this year or beyond weahere he says maybew are ready to go public we've been following this closely. from the tech side specifically if you see those flood gates open, that could be meaningful great stuff as usual. >> thank you. >>> the tragic incident involving the oceangate submarine unveiling concerns around the so-called extreme tourism industry, as well as the large price tags that some individuals are willing to pay for the experience despite the risks. we'll discuss that we'll be right back. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as s

what do you make of the space with the buy now pay later the fintech may have a ripple effect any ofble for you here >> no, not really. i mean, i think -- you know, i kind of agree with tim here. they've had a really nice run up off of a low base. good for them there, but i just think that -- i don't know, anything financially related, if you want to have any credit exposure, which some of them do, some of them don't, but i really just want to be in the big banks. guy will disagree with me, but that's what i think the safest, best award is in the whole financial services space. >> kristina, thank you for joining us. >> thank you. >>> coming up, this crypto grid is having the best week since march. celebrating pride month. here is the chief peeple officer of equinox >>> being gay is not a liability, it's the creativity, the resilience, the empathy that you bring to the table that is so valued in any team, any workplace. don't settle for anything less pick people to work with and places to work at, not that they will just tolerate you but celebrate for who you are and what you bring to

caroline: what about the fintech space.e expertise in as well as health care. maybe fintech isn't the first area of adoption, what you make of that? >> i think the incumbents across fintech and education have an opportunity less because of the industry-specific nature and the idea that where there are rote tasks or efficiency to be created by people it can be a powerful tool to create that. that's cost savings, time savings, adding value to what's already there. existing companies versus new entrance. one of the unique things about this technology shift is that the incumbents have distribution advantage the data advantage that's very relevant in the technology is easier to use. they can do it faster, get up to speed and use multiple advantages and you will see that now and for a while across industries that give these big players a real opportunity that they can jump on. caroline: that was such a great conversation. meanwhile, coming out. we have plenty more to talk about in the world of venture capital. what it's like rais

let's turn to a fintech investor.ca lynn is joining us. $835 million in assets under management. fascinating to have you with us as to why fintech is -- rebecca: there are a lot of interesting places to put ai to work. fintech is not at the absolute top of my list. companies with through transformative opportunities with ai is where we would focus first. in my portfolio with a company called case text. they help lawyers put together research, briefs, discovery. the technology of ai, especially gpt4 have supercharged that company and tech into the next level. caroline: how comfortable are potential customers? we saw the news that two new york lawyers are potentially facing not only backlash but penalties to use gpt-4 to put forward case studies that do not exist. it seems funny but this has connotations of people need to start saying they are using ai. rebecca: 100%. people have been so comfortable with case text that the company racked up $5 million in 45 days after the launch of their product called co-counsel. regar

a arjun joins us again from amsterdam with the lady in question >> we spoke to the ceo at fintech.e said they will list in the u.s. when it comes to it there is an issue with london and its position in the world for listing of tech companies. what is your ambition? >> london is, by any measure, the largest venue in europe. our competition is with the u.s. there is a lot if you look at the listings that happened, you take one in a similar sector, it has had a successful listing in london and trading against the u.s. peers the idea you get the premium in the u.s. is a misnomer the listing is for life, not just for christmas access to follow-on capital, not just the ipo, is the reason for the listing. that continuing valuation matters. if you take the uk companies that have gone to the u.s., over 100 million in the last 22 years, five delisted and one traded up. mon man united it is not justthe headline sticker. it is what happens afterwards on any venue that matters we care about making sure companies have the right access to ipo and get the continuing access to follow-on capital. >>

i want to ask about the fintech landscape in europe.disruptive than here in the u.s any talk about that this week? >> reporter: we are seeing the dynamic where fintech in europe is forcing big banks to offer for budgeting control and contactless payment everywhere more digital disruption than in america. that is partly due to open banking and likes are now commonplace after a lot of banks fought to quash reforms. >> mackenzie sigalos live in prague always great to see you. >>> let's check on the headlines. nbc's phillip mena is here >> good to see you, frank. it is a top story in america former president trump is yet again on the receiving end of the criminal indictment. nbc news verified the statement on social media he has been indicted by the federal grand jury in the jack smith investigation into the handling of classified documents. sources confirm it includes seven charges and one related to the espionage act an t -- act. this is the second indictment since april. he posted to truth social saying he was innocent and dismissed it a

we will get the fintech and tech discussion on that story next.uickly, we are up 35% in the session on this name. there is one piece of news that came out yesterday, 24 hours ago. rackspace secured a partnership with google cloud to provide, guess what, cutting edge generative ai. a gain of 35% is near the biggest jump on record on an intraday basis. highest level since february. this is "bloomberg technology." ♪ ed: time for what is going viral, and it is the number one trending on google trends right now. in a 6-3 ruling, the u.s. supreme court has stricken president biden's plan to forgive student loans for some borrowers. let's get more context and who was the most impacted. ryan t beckwith in washington, and our wall street reporter sonali basak in new york. headlines crossing the bloomberg terminal. president biden saying in a tweet, "the high court ruling is unthinkable. the supreme court striking down student debt relief is wrong. the fight is not over on student loan relief." ryan, based on the court decision, where do we stand right now?

. >>> still ahead, picking up the pieces we'll hear from a fintech player scooping up silicon valleyank's former clients. >>> as we head to break, june is pride month. cnbc is recognizing it all month long we're sharing stories of corporate businesses. >> the lgbtq+ community is not a monolith there's lots of letters for lots of reasons those letters and identities intersect with race and ethnicities and disability really focusing on setting an environment where people feel like they belong and feel safe being themselves that's what companies can do to make sure that people can show up as their best selves. conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my to

what's your take on fintech right now?well, it's really been in the doghouse from the beginning of last year really it's underperformed the market considerably because of fears of competition, the strength of the economy, who will succeed, how big the market is we own paypal. it's been a terrible stock it has valuable on all times of websites they make purchases. venmo haven't even started to monetize it. we think there's a value stock at this point. business is decent the economy is not in a recession. people are spending money and maintaining market share even growing it on the venmo side i would like to give a plug because the stock is starting to act better, was stuck and it has a san francisco bay like first republic but it's not the same people looking for higher yields and higher interest rates helps schwab >> an interesting point that paypal hasn't monetized venmo yet. >> there are so many eyes on it. the growth companies are having trouble making money i'm talking about the private market and sofi is one of those.

. >> over 3000 banks, including the top banks, the top fintechs, the use vantage scores, so that is one broadly use credit scores for consumer lending in the united states grid we are going at 30% a year, which is two to three x, the overall market. it is important for consumers to keep their credit scores up. what we are seeing is lenders are becoming more cautious. in the most recent credit score, that showed that they were actually across all credit categories, auto loans, credit cards, mortgages, lenders were pulling back and reducing the account openings. there is a trend we have to watch. obviously, that is what the federal reserve wants to see. pulling back on credit, and this decision by the supreme court is actually going to accelerate that and reduce that going forward. consumers, particularly consumers of student loans, they should take this opportunity to resume payments because the silver lining here is consumers that resume payments of their federal student loan will actually give them a chance to bump up the vantage score critical -- credit score pray that is the silverli

is it a fintech company, a media company? similarly which is what is this actually. it is a legal tech company, a fintech company, a marketplace company for which they are using ai to do something that has not been done before? that is one lens. the second lens is this leapfrogging piece which i will shamelessly show that i wrote about recently which is the concept that ai will move into industries that were underserved. ed: give me a tangible example. morgan: the legal industry. ed: your office is in haze valley. we try to make the show global is what -- but what i keep hearing is that everything happening in ai is happening here. we had gary tan on the show two days ago and he called haze valley cerebral valley because in his mind all the talent working on alm's and models, you can find them in several blocks of that neighborhood. do you agree? morgan: i very much agree with that statement. i did not know we were going to be talking about haze valley and san francisco but i am happy to. ed: for the audience, why are we talk

microsoft big charitable trust name visa, the orange fintech and eli lilly the number one drug companyhe largest drug company in america having passed j&j. we have a drug company, a retailer, a medical equipment company, we've got a tech company and a fintech company. and that's what i call perfect diversification. now let's go to blaze in wisconsin. blaze. >> caller: hi, jim this is blaze from wisconsin as i age, i'm increasingly interested in dividends. i wanted to put a twist on this segment by requiring stocks which yielded at least 2%. >> okay. >> my five stocks are broadcom, archer daniels midland, marathon petroleum, jpmorgan, and verizon. am i diversified thanks for taking my call. >> absolutely. this is going to be very hard. archer daniels we know is ag company, it's perfect. marathon, good oil jpmorgan, great bank broadcom, very high-yielding technology company it's verizon i'm worried about the yield's 7% when you get 7% it's out of sync with the rest of the market, that means people are going to question the cash flow we're going to pull verizon. we're not going to want to

that has under performed some of the other high multiple techs we've talked about some of the other fintechi like it. i stay long. i think it's been a painful run. i think the comps get easier and they are conservative on the april guide and we might see something newcombing through. >>> our last fan wants to know if you can explain a short straddle please. give an example of in the money or on the money. >> there you go. sometimes better to be lucky than good. >> you're shorting a call and a put. you're betting the implied volatility of the options is not going to be realized you need it to be staying within the premium you collect. >> time for the final call mike >> yeah. i think we could look to a couple spaces where we've seen some underperformance so far this year. i rather like general dynamics and bunge. >> tim >> interesting how vix is falling with the market action markets stabilize next week. >> all returns are not created the same risk adjusted returns. treasuries. >> that does it for "options action." back next thursday cnbc documentary "making of the meme king" is next starts r

increasing, and it's a stock that's outperformed multiple other kind of techs, we've talked about other fintechit, i stay long, there's been a painful run. the comps get easier and they're conservative on their april guide and we might be see something better coming through. >> last fan, explain a short straddle of, give me an example of in the money, bonawyn, for you, you were just talking about straddling. >> you're shorting a call and a put at the same strike, you're betting on the volatility, the implied volatility of those options is not going to be realized you need that move to stay within the premium you collect, either to the up or to the downside. >> time for the final call mike >> yeah, i think we can look to a couple spaces where we've seen some underperformance so far this year, general dynamics and bungi. >> tim. >> vix has been falling with the market, you'll see the market stabilize next week. >> and bonawyn. >> all returns are not traded the same, risk adjustment returns for treasuries. >> back next friday 5:30 p.m. making of the meme king is next, starts right now >> announcer

he believes in fintech in tech. he believes in fintech aigiiai— in tech.ow they're not quite sure nov— somehow they're not quite sure nov ire— somehow they're not quite sure now in going— somehow they're not quite sure now in going ro— somehow they're not quite sure how it's going to work , but how it's going to work, but nevertheless, _ how it's going to work, but nevertheless, just trust us and evervrning— nevertheless, just trust us and evervrning viii— nevertheless, just trust us and everything will be fine. that's the everything will be fine. that's rne neeeage— everything will be fine. that's rne age .— everything will be fine. that's the message . farage do you feel the message. farage do you feel it's the message. farage do you feel its a— the message. farage do you feel its a eon— the message. farage do you feel its a eon oi— the message. farage do you feel it's a sort of philosophical poeiiion— it's a sort of philosophical position, almost like a disposition— position, almost like a disposition ,- position, almost like a disposition , a sentiment

he believes in fintech in tech. he believes in fintech didiidi— in tech.rdw— and make everything work. somehow they're not quite sure rrdw— somehow they're not quite sure irdw ide— somehow they're not quite sure irdw ir-e ddirrd— somehow they're not quite sure irdw we did rd— somehow they're not quite sure how it's going to work , but how it's going to work, but nevertheless, _ how it's going to work, but nevertheless, just trust us and ewerwririrrd— nevertheless, just trust us and ewewririrrd wiri— nevertheless, just trust us and everything will be fine. that's the everything will be fine. that's we needed— everything will be fine. that's rire rreeedde .— everything will be fine. that's the message . farage do you feel the message. farage do you feel it's the message. farage do you feel irie d— the message. farage do you feel irie d edd— the message. farage do you feel irie d edrr dr— the message. farage do you feel it's a sort of philosophical pdeiiidrr.— it's a sort of philosophical position, almost like a disposition— position, almost like a dispositio

they are having an update to financial offerings and it feels like it is not a great place to be for fintech and how much more apple could own in that. what excites you? carolina: this is the developer conference oh really interested in seeing what other enhancements or platform from the ios and mac will bring. we also know there is likely to be some new max and apple is continuing in an enterprise. it is always the consumer company but the reality is they are gaining enormous share in enterprise and if they are bringing to market a 15 inch at an aggressive price point, then the share will grow for them. ed: the developers love wwdc. it was like what ios 17 software per what are you most excited about? carolina: i expect big things. i expect personalized care, if you like, the ability of pushing more health and security devices . we saw some features last year. those are the things i am expecting. it will be interesting to see what we see around messaging and face time whether this little fight with android and rcs will end this time around or not. ed: at google they referenced this fight in

fintech space is posting a profit and that is leading the sector and having an impact overall.he swiss defensive index is up .10% as well. in terms of sectors, this is how the split is you actuhave utilities up .40% some defensive names are doing well autos are getting hit down .80%. this as that sector prices in the weakness we were talking about the surprisingly weak pmi numbers on friday and weak ifo numbers from germany. all of that is beginning to be priced into the cyclical sectors. oil and gas with a bit of a spike after the geopolitical developments in russia over the weekend has pared down the gains. some of the positivity has fizzled out. julianna >>> joumanna, this is a big p w -- big week for the central bankers. we are waiting for christine lagarde to take the podium to address the audience of ecb watchers there the central focus is how many more rate hikes are in store and the ecb and fed and bank of japan and bank of england frame the policy path moving forward you can see there is action at the ecb forum and madame lagarde will be getting under way shortly. joum

the fintech company is up strongly today on its outlook.tates where they are seeing some pulling back and that speaks against the data we have seen today on consumer confidence. there is not always a direct correlation between consumer confidence and consumer spending which is worth pointing out. let's talk about what's happening tomorrow. sintra is getting going in portugal but tomorrow we really kick it off. we get more italian data. the real story is going to be consumer confidence but the central policy panel debate. how differently are these various central banks going to see the world? the united states, the euro zone, japan, different mountains to think about, different ways of analyzing how the economies are developing. the boj is still down one base and maybe the fed is the one closer to the peak of the mountain but what happens when it gets to the peak is the big question. alix: there are so many hiking metaphors. it's the clinging in the base camp so let's get to the session of the day. is this at peak or plateau for central bank

so we are seeing this trend which is leading the government to investigate these fintech companies, and here, and the saying in this report when moving it to a app. unlike a traditional account that is fdic insured, if venmo were to go belly-up, the money is not necessarily fdic insured. so there are, you know, potential caveats here where they may offer conditional pass-through insurance or something like that, but the overall point that the government is making here, that the protections of so, those are not going to come with the same conditions when it comes to these apps. it is not about necessarily the payments that you make that are necessarily insecure, but what the government is saying is that if you decide to keep the money the apps, you are potentially putting yourself at greater risk. john? >> so is a way to protect yourself as simple as not keeping a lot of cash in the apps, and transferring it there when you want it? >> right. as you soon as you receive a payment in one of the apps, you are moving it to one of the linked bank accounts and store it there if that is connecte

cap tech, but how does the pause impact the broader sector of tech payments and medical tech and finteche out there. >> if we step back and think about the overall interest rate environment, sure, we may get another few hikes. what is most important across the sectors that you mentioned is cyclical headwinds they are facing the companies, the segments you referenced, each company will have to grow medical tech and boston scientific which we think is well positioned as you get more patients for procedures, that can help the business as one example. you have to look under the covers at each one of these. we see innovation and growth and we see opportunity >> so, certainly a lot of excitement whether you call it mania or not give us an under the radar pick when it comes to the big rally in tech so far this year >> sure. one name we continue to like is a company called motorola solutions. you have a leadership team led by greg brown who transformed the company and expanded it from the core business in w walkie-talkies many 911 centers didn't receive text or video as an example. we see higher

so excited about bringing companies, fintech, companies like shein. there are so many disruptors. the next five years is going to be a world of disruption not because of ai, but because technology will change every industry as we know it. we want to make sure anything being disrupted in latin america will have a role to play. caroline: you have been the disruptors, in a way. the size of checks you would write, if you are getting into small companies but also large ones, can the checks be of any size? what are you thinking about where in the lifespan of companies you are entering? shu: the ecosystem is good at the early stage, great funds have been working for decades to set the foundation. we do not intend to compete with them. checks range from $20 million to $50 million. this is not a big portfolio, this is about choosing a few partners that we can work with long term. 10 to 15 companies. it is about a close partnership and we will not invest more than $50 million in any given company, but we want a real seat at the table. ed: latin america is more than 650 million people. what

frankly i think a lot of the oversight may turn to the financial institutions, banks, including fintech did very little to vet these companies. >> hold on a minute. they worked in a position to. and the banks made it very clear, they said, given the time horizon you're giving us, we cannot provide oversight. and the government said you don't have to. and then the government didn't put anyone on the oversight committee. they didn't do anything to execute that. >> yeah. there is no mechanism to oversee this. and the banks were in fact encouraged to throw money out for anyone who claimed they are entitled to. but there were some pretty silly things. there are businesses that were very clearly fraudulent names. there was the early first gush of paycheck protection program money didn't go to the people who needed it. it was -- the shaq and these corporations that found ways to get through jpmorgan chase in places like that. there were mistakes all around. >> it is just horrible in every way. david mcswane, thank you for this reporting. this reporting gets needs to get read by everyone. comin

so that's terrific and i want to stick with that fintech.anagement stuck at 160 but i think it's a great diversified business and it's really more lever today believe it or not, the development of housing projects because that's where the most trash is that they deliver from. apple own it, don't trade it duke's fine. and nvidia, own it don't trade it two own it don't trade its we have a concentration, two out of five are tech it's very difficult for me to say sell those stocks. finance, let's call it a mild industrial utility. and then two tech. not perfect. okay but i can't tell someone to sell something when i say own it don't sell it. i would like to have more stocks that would dilute the impact of having so much tech in this portfolio. "mad money's" back >>> coming up, what happened to umh? doing your homework is the best insurance. cramer's got some triage, next [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a ban

a fintech entrepreneur as well as her other billionaire. aspired to the highest level of the firm and resulted in a settlement of a multimillion dollar settlement as we understand it. but what is interesting about this is not just the dollars involved, but also some of the reaction inside the firm. there were some executives who felt that the woman who received the video, perhaps she exaggerated how traumatized she was, and rush to get a lawyer involve others have told us that is part of the problem. there is very little recognition of how the balance of power is stacked on wall street. >> let's talk about wall street more broadly. what does this case say, and what is happening here? tell us how wall street is evolving. next you can look across the industry and you can look at goldman. with the issue of gender diversity at the highest length of the firm, this is something that has been brewing. everyone has vowed to do better, but we don't know if the change we are seeing is fast enough rid yet, they have been grappling with is had $250 mil

of the year for example, he predicted nvidia's surge back in march now calling for improvements in fintechlowing the bank collapse, as we saw this spring. with the s.e.c. crackdown on bifans and coinbase, he's advocating for more regulation joining us this morning, david marcus, board member at coinbase and president of paypal. great to have you back good morning >> great to be back. >> a number of areas we can go i guess nvidia is the best place to start i just wonder how you think about your call, which obviously predated their guidance by a pretty wide margin >> well, you know, when you look at what's happening in the ai world right now with the explosion of use cases and companies building on top of these chip sets, it was pretty obvious to me at least that nvidia was going to be the big winner because all roads basically lead to their chip sets and they announced, i think, a week ago or two weeks ago the combined cpu/gpu chip sets that will power most of the data centers that will be behind all of these ai applications so, you know, it felt -- it felt like they were going to be the wi

shares opportunistic fintech bank more than doubled in just the last month.and now of course the analysts are saying too pretty at the moment. spotify is at 52-week high after the music and podcast streaming company announced harry and meghan. the two parties are mutually agreeing to part ways and proud of the series they made together. spotify's deal with duke and duchess of sussex estimated to be worth as much as $20 million and report from the journal says harry and meghan only did one podcast and didn't meet the productivity benchmarks required to receive the full payout from the deal and food stamps spotify is up 3.6%. we should look at irobot shares because they're surging to six month high, 26.6% and amazon $1.7 billion in roomba vacuums and shares of $67.06 and amazon's offer of $61 per share. but far below it is enough. certainly to make sure they didn't overpay for it. the backlash against the pga tour's deal with saudi backed liv golf ramped up another notch. the justice department investigating the agreement between the former fauxes turned busine

jpmorgan in 2020, 55ip was the name of that company and our goal is to be a mini berkshire hathaway of fintechent ai will change the world, look, it's growing at 40% annualized from 150 billion market to $1 trillion in seven years so capital will follow that. >> but it doesn't do buy, sell, hold, right? you don't do, which stock should i buy? you're not trying to replace those analysts, are you? >> no, we're not we find our users are early investors saying, how do i get started? some of our users are experienced investors saying, compare that ticker with that. we do have the ability to execute. >> wow toes are in the water now. we'll definitely watch it closely. thanks for being with us. >> thank you >>> after the break, a look under the hood at microsoft's s secretive cloud business and what it could mean isctin runy from the ftc that story coming up next. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared.

. >> red-hot ipo after that, it's going to be biotech, then enterprise software, then nonsense fintechand then we're back to where we used to be, which is awful >> be nice to see an ipo >> you're going to see plenty. the flood gate's about to open >> come on >> that would have been better the bye-bye -- >> no, we have had no ipo activity for 18 months, practically. m&a activity remaining at a low number, why john waldron from goldman-sachs walks around depressed all the time debbie downer. >> he needs lithium? >> there's not a lot going on. carvana may be important i don't know if it's going to open the floodgates. >> the difference between you and your view -- >> carvana sorry. cava >> forget. >> i got confused between carvana and cava >> it's carvana versus cava and they're the same thing when cava opens at a premium, what happens is john waldron gets off his anti-depressants. >> he's not going to be happy with this conversation >> what we have is -- >> what do we have >> -- the kind of thing that you and i hate, the summer rally that is based on companies that are jobi >> short posi

of the biggest, most successful chinese companies a few years ago and jack ma was trying to take a fintech when consumers are looking for cheaper priced goods. so there's thinking maybe with joe huh sigh at the chairman of the e-commerce unit, maybe they'll make more of a push into the u.s. >> if anything, it's been too long already in that effort. deirdre, thanks. >> still ahead, the hybrid work model not just a problem for office rates. the "wall street journal" reporting investments links to america's downtowns are now under pressure. but is the time to scoop them up at a discount this very moment. >> and thout june, cnbc is celebrating pride month by sharing stories of corporate leaders. here is glaad president and ceo, sarah kate ellis. >> coming out for me at work helped surge my career. i wasn't hiding who i was. that takes an extraordinary amount of energy and time and resource that you could be putting against your career. your job, your clients, your employees. and so for me, when i was in the magazine business and i finally came out, i saw my career take off. so be who you are.

what i will be looking for is around wallet and fintech, and they announced the buy now, pay later that sent shares of the firm down and they have huge ambitions for apple pay and there there was an interesting report that apple put out that $3 trillion happened in one year in u.s. apps and how do they capture some of the activity if they're not subject through the in-store tax, and they do it through applepay so anything they can do to move the needle there is going to be super interesting, but to your point, it's a developer's conference and the reason why they'll announce a headset today because they need the developers in the audience right now to make the experiences and to make this product and get it sold >> so, steve, a lot of people have been saying for the past several years about everything that apple does, oh, it's evolutionary, not revolutionary, and yet, here the stock is near a $3 trillion market cap at all-time highs how does the smart investor distinguish between disappointed chatter around these announcements and the reality that unlike amazon, right? why didn't apple

people khan doesn't preside over that's the banks it might not even matter these days given all the fintech against bank consolidation i like that. it's only been breached once and the regulators only let that happen to stop a bankruptcy. we'd be seeing huge layoffs as businesses sxhernlgd fired people maybe you think her views are possible it's certainly good for the people keeping their jobs. but it's bad for inflation because it means the price of labor stays zub-bornly high. khan's one of the greatest creators of wage inflation in our nation's history and from the stock market perspective that's a very bad thing. same for the fed hey, same for you when it comes to your costs. as long as khan's there we likely won't see the giant layoffs that we'd normally get at this point in the cycle inflation killers for certain. whether you like it or hate it, at least now you know a big reason why inflation is far more sticky than it should be right now. i like to say there's always a bull market somewhere i promise to try to find i >>> hi i'm brian sullivan is china making moves into america's bac

but if you believe that housing might be fine, it made a ton of sense to buy the fintech name that dominates the consumer credit rating industry but if you wanted to take on more risk, i would have suggested the fifth best performer, and that's pm pulte home all of the major home builders hit highs today. can you believe that now number four, first solar, this was more obvious because the inflation reduction act had just passed the last time we were at 4300, including huge solar subsidies that was gettable you want easy? how about back in the fall netflix announced a new ad supported tier many suggested this would be good for the business. but it's actually worth a lot more than a regular subscriber we just heard that from the trade desk over this week on the show now it's the third best performer since the last time we were at these levels sure, maybe you needed a leap of faith to believe in netflix's management i know i didn't. most people had no idea whether this plan could even work. next, nvidia all right. second best performer from that period maybe the only way to this one is to know

sec chair gary gensler excoriated the crypto industry at the fintech conference last week saying " we'vee federal securities laws were put in place." hucksters, fraudsters, scam artists, ponzi schemes, the public left in line at the bankruptcy court. so, what does one of crypto's biggest bulls think of sec chair gensler's outcries here in a fox business exclusive billionaire venture capital royalty, drape era sos yachts founder tim drap er. hucksters, scam artists it's like that scene where the cop gets up on to the witness stand and says he's a new york coming intellectual bad apple but i don't want to cast nothing. what do you make of his comments here? >> you know, weak regulators spread fear and strong regulators spread opportunity, and i think we've got a real problem, because the sec has been spreading fear and all of the innovators are leaving the country, and there's a huge problem we have. this regulation by enforcement makes no sense. we want the great technologies to stay in the u.s. and they are all going to dubai and singapore and northern europe and south america and all ov

space is generally closer than you think, literally inside a smartphone, russia is on the frontier of fintech frontier inside russia and, accordingly, for many countries for which some things are space, for example, send money in a second or asked for this usual we are used to the voice assistant. but he protects against scammers. they can get through to you and start trying to somehow extract money from you with the help of social engineering, scare you, scare them and, accordingly, go to the bank. they can't call with your phone number. and also remember how klim virgin mts will reveal the secret. eight tinkoff bank cards were also hidden there . they returned to earth and were raffled among the regular customers of those who bought. tickets for the movie call through the bank application, although today you can order a space card for yourself, yes, and there is no such weightiness was, but if you really want a little space in life, why not. after all? no matter how icy this space abyss is, it falls in love with the view for the school of sushi. the first channel of otrasred continues and r

let's see under section 1031 you are dealing with privacy, data aggregators, fin text are not -- fintechs are not subject to a lot of the supervision banks are. what steps are you taking to protect americans from these folks. mr. chopra: we have started to put more familicies on nonbank supervision, especially these firms that touch sometimes millions and millions of consumers who have not been subject to similar supervision. we want to make sure that that abuse that you mentioned, or that it's not a collected for one purpose but monetized for a completely different one. it's going to be a challenge. but we are starting by making sure we are targeting our supervisory resources properly. mr. sherman: finally, i hope you would look at these for-profit debt relief agencies that keep you from talking to your bank first. >> the gentleman's time has expired. the gentleman from missouri, mr. mr. luetkemeyer: thank you, mr. chairman. mr. chopra, welcome. last time you were here we discussed your schedule. the fact you don't meet with people from the industry. we showed your schedule to you. made

we have extraordinary strengths in fintech, cyber and creative industries and biology come away fromd the uk is the best place in europe to raise capital. with more invested in tech here than in france and germany combined. but today, i want to answer a simple question. what's the single most important reason innovators like you should choose this country? the answer is leadership. do you trust the people in charge to get what you're trying to do? with this government and with me as your prime minister, you can. that is not by our words, but our actions. it is this government that is building the most pro—investment tax regime, that is increasing public r&d investment to record levels, that is making our visa system for international talent one of the most competitive in the world. we are overhauling our listing rules to make it easierfor companies to raise public funding and changing our pension rules to unlock new private capital. and we are changing the way government itself works. i created a brand—new department focused on science, innovation and technology, with a mission to do

with a fintech company, you as you card. you know, a pay as you go card.low you to wouldn't why would we allow you lo nave— wouldn't why would we allow you lo nave oan— wouldn't why would we allow you to have our product,— wouldn't why would we allow you to have our product, have our lank— to have our product, have our lanl aeeoanll— to have our product, have our bank account? we— to have our product, have our bank account? we don't approve of bank account? we don't approve ol wnal— bank account? we don't approve ol wnal yoa— bank account? we don't approve ol wnal yoa say— bank account? we don't approve of what you say anyway. ilii; of what you say anyway. there are some people— of what you say anyway. there are some people there, you know, on the far left, i would say, on the far left, as i would say, who to totally destroy who want to totally destroy everything that someone has if they don't have the right opinions. started off with no llallorn — opinions. started off with no platform them _ opinions. started off with no platform them on— a started off w

some other fintech comedies have announced it.s bull market, it was driven by people on their trading apps, 600 million apps have been downloaded and i think the fact is that suddenly they are not being able to those crypto trading services anymore and they are restricting it, it is a big deal for people on the market. haslinda: the question is is there a likelihood that altcoins could get to zero, could they use all their value? >> not all the way but close to it. when you look at the history of the crypto market that denominator is that bitcoin has always gone up and made new highs and i would define bitcoin as the group the currency market itself because it is close to 50% of the value. but for all these bull markets we have seen bitcoin go high. but even during the last bull market, a lot of those tokens have been launched which did not make new highs so they really made new lows. i think it is fair to say that it took at that is still 90% is going to take effort to revive the business and gain trust because i think the curren

contributors across the spectrum of consumer lending, including credit card, auto, mortgage retail and fintech. we have stringent requirements and monitoring programs in place to ensure that our furnishers are submitting accurate information to us. an important component of accuracy is the consumer's right to review their own credit report and correct adverse. with millions of free reports and scores in the ecosystem monthly, consumers have easy and free access to their report information, including through annual credit report.com, which provides free weekly reports. consumers, experience as a free, online to speak portal. including a mobile optimized website. now, consumers can also easily reach us by telephone or mail mister chairman, study suggests that is many as 15 million american adults are unable to access their and affordable credits. either because they have very than credit files or because they are completely credit invisible. we also understand many consumers, particularly minorities, and lower income individuals, are often underrepresented in the credit reporting system. this is

that covers, from fintech to e.s.g. to potentially cross listing.otential is very real in the sense that there's a lot of interest, right? right now, we are seeing a very big delegation coming from the middle east and what we want to do is seriously explore these possibilities. now if you look at the numbers, you know, as we know, talk about the sovereign funds from the middle east, their current allegation to china is actually not very high. and they do aspire to grow it. i've heard numbers saying by 2030 growing it to 10%. considering that against -- stephen: they're at about 2% now? bonnie: correct. and they are growing the a.u.m. at a very, very fast pace if hong kong captures just a fraction of it i think that would be a good outcome. stephen: i think some of you executives had meetings in the middle east. bonnie: few is an understatement. our c.e.o. has been going to the middle east a lot recently. i think in the last six to eight months he's been there at least three times. i think this two-way flow we're going to see more and more in the nea

we know that fintech is probably the most heated part of our business right now look at the firm, it'sk i'm not sure exactly it's just too many players >> you know what's fun, paypal, two-year, i mean heat done in the payment. >> it's extraordinary. apple keeps winning including mls. the messi pick. >> tweeting about it. >> apple believes soccer is worldwide so if you're -- this is going to be a windfall. soccer is worldwide. mls. >> because they want - >> we like watching the premier league. >> argentina wants to watch. >> now they do. >> we're not going to count you out tonight. >> i've got a metals company i like the metals company very much it is one of these companies if you believe like i do that crypto is not the place to store value, you want to listen. >> gold, 10% of your assets should be in gold. call me old fashion. >> when the machines come for you, those who have gold are going to get out alive. >> really? the machines are going to take our gold, accept gold to keep me alive? here's my gold thank you. >> like a leather pouch? >> it can be bought like anybody else, the mac

and quite by accident i found out about uh, the educational program that we have in tinkoff is a fintech universities were selected, then 3 months of study. and not some theory developed a real mobile application. finally got hired. it was a mixture of feeling, such. uh, relief from the joy and fear of the future. probably because well, damn it, such a big cool company, almost 77,000 people 70% it specialists have been nurturing some of these personnel literally from school for 5 years. we work with schoolchildren from the fifth to the eleventh grades. these are our mugs preparation, but for olympiads in mathematics. informatics this year is more than 100 and our students have become winners of the russian olympiad and are in the company and profile olympiad, for example, given together with the higher school of economics. any student knows winning or winning is the shortest path to top educational institutions, as a rule, you need to pass a selection for our programs, but we also have, but a large number of courses that do not require any selection, for example, a course in data analysi

robinhood from coinbase joining us right now is dan dolev, managing director and senior analyst of fintechto that conclusion >> good morning, becky thank you for having me on the show this is actually fact-based research and we have got enough data points on both coinbase and robinhood for the month of april to trangiangulate to he isee th relative share between the two that share must be coming down and that's a fact. there is literally no other way for you to basically triangulate into the data without the share coming down. so, that's why we feel very, very strong about that shared loss that we published yesterday. >> but the 65/35 shows a much larger share for coinbase? >> yes, they are the -- they are the legacy sort of like household name, right? our call is the fact that the s.e.c. is going after them, they raised prices for small ticket items that people are worried and we think that 65 going to 62, maybe to the 50s and people are walking to robinhood and we feel strong about this call. >> how much of this is, you think, because of the s.e.c.'s action how much is because higher pri

up next, another big news story this morning breaking in the last hour, nasdaq making a deal for a fintechadena friedman will join us next somehow we were able to get her to come righin ot tour facility here she's our landlord we'll be right back. rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. the two most important things in golf are your swing and your style. dick's sporting goods has everything you need to upgrade both. find top-rated drivers and irons from callaway, taylormade, titleist and ping. tour balls from your favorite brands. and the most dapper styles from travismathew and walter hagen to calia and lady hagen. you handsome devil. select the best golf shoes like footjoy, nike and more. and get back on t

i could go to one of the fintechs and i could get the ability of at least a payments mechanism. . and said on today . and i said earlier on today that at 7:00 tonight, i'll tell you what my next steps were. well you could not be down with a because the phone rang a feather because the phone rang at 6:45 and it was the bank that wants to close me down completely in a few weeks time. they claim there's nothing political at all in what they're doing. it's purely a commercial decision . and it was said to me decision. and it was said to me on the phone a few minutes ago they could get me a personal account with another bank that is part of same but is part of the same group, but that doesn't apply to the business account. so frankly, isn't much use to me . business account. so frankly, isn't much use to me. i'm isn't of much use to me. i'm used to battling against the odds as i'm used to being prejudiced against in the most extreme , ordinary way, and i'm extreme, ordinary way, and i'm generally pretty tough in fighting through these things. but for just once, fighting through these