but there is hope the advent of fintech and the rise in smartphone usage is nearing the chasm in respect to financial inclusion. the indian governments digital india initiative aims to transform the country into intentionally enabled society. and this has significantly increased financial inclusion in india, particularly among the i'm bank population. according to the world bank, the percentage of adults with a bank account in india, search from 35 percent in 2011 to 80 percent and 2021 largely due to the government's efforts to promote financial inclusion. india has the fastest fintech wealth within an acceptance rate of 87 percent compared to the 64 percent global average. however, despite increased internet usage and tremendous growth, a 190000000 indians are still on banked. india is an economy where 90 percent of transactions are still made in cash. in countries like kenya and nigeria and south africa are also at the forefront of africa. spin teck boom, things to high smartphone penetration fintech started ups are able to give african customers a level of access that traditional ban

his words has sparked a renaissance in china, is fintech industry focused on lending and payments to maximize economic potential of china and backed companies like we bank specialize in inclusive finance to provide loans to low income individuals with no credit platforms. like all we pay and we check pay work as digital payment system that is similar to a pseudo bank, allowing people to get paid and receive funds. so for this and more, let's bring it again professor richard wolf, economist and founder of democracy at work. now, professor, in what ways can crypto currently serve as a potential solution to address on bank crisis? and how does it offer financial inclusion to those without traditional banking? well, there has to be a little bit i hope to where it is and certainly go, but i want to be honest with you. i don't think it makes much difference. i. the people who are on bank are not likely to become customers in the crypto system. i understand why that idea has been put forward. a crystal currency is also a profit driven economic entity. it's a company wanting to make a profit

the fintech sector has provided credit access for low and middle income individuals. many of these providers are also pioneering strong consumer protection. i'm concerned that overly broad regulations threatened to kill innovative, law-abiding fintechs . registration of banks , for instance. or 1071 rule. what kind of cost-benefit analysis is the cfpb engaging in to make sure that you are not harming vulnerable consumers in the name of protecting consumers? >> with respect to rulemaking, we are under certain obligations to publish it. it is a flexibility analysis, including to look at where the costs are. you know, sometimes, when it comes to benefits, benefits of getting a credit report corrected, avoiding an illegal foreclosure can be hard to estimate, but we comply with all of that. and let me share -- i agree with you that we want companies, especially small and new ones, to be able to compete against the big guys. ideally, roles, including laws that you pass, can be clear, and there will not be ambiguity about it. sometimes we strive for that, but often, the laws

fintechs or financial technologies have penetrated almost all of our lives. a subject that can be entered at the beginning. bank tellers to financial and banking industry. the technologies that are aimed at increasing the speed and security as well as making the services non-face-to-face have been expanded to other fields such as electronic banking, payment industry, investment and crowdfunding, loan validation and payment, insurance and tax fields in order to gain access, acquisition and make it easier for the general public, and especially for start-ups, to access financial services. we have this permission with stanatup and daneshmani companies. in particular, we want them to access financial payment banking services more easily. the services that are due to the wide range and complexities of each of it is not possible to provide them directly from banks. for this reason , technology companies, knowledge bases and types of financial technology providers opened their doors to this area. and recently, the latest financial technological achievements in the co

fintechs or financial technologies have penetrated almost all of our lives. a topic that can be considered the beginning of aberbank's entry into the financial and banking industry. technologies aimed at increasing speed and security as well as making services non-personal to other areas such as electronic banking, industry. investment payment and crowdfunding validation and payment of insurance loans and tax areas were expanded to facilitate access to financial services for businesses of the general public and especially start-ups. we give this permission to companies, startups, and knowledge-based companies in particular , so that i can access financial payment banking services more easily. our services are available to all startups and companies in the country, more than 4. hundreds of companies are currently using it. services that are not possible to provide directly by banks due to the wide range and complexity of each of them. for this reason, companies technology, knowledge base and type of providing financial technologies were opened to this field. a

up next fintech within a billion-dollar market cap.n the grand scheme of things that's relatively small. they say they're getting ready to play with banking's big boys, sophia has gained dramatic numbers over the past year, 53% ceo anthony noto is here live as his company crosses a major milestone in his quarterly report with the dow jones industrials including three of the big banks sophia wants to be. moving up 127 points at the moment. "the claman countdown" is just getting started. our engines are starting to roar, stay here. we'll be back in a minute. when, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. nice to meet ya. m

employees to get and that's where they have to work or and now with the rise of digital payments or fintech solution, how does the landscape of credit card debt change was often get worse because again, the easy you may get this done, those dollars on the age of 5 to region by box and even i can just put it on my phone or i can just you know, to do something else that makes it very easy to make it for people to spend money. but more money they're gonna stop. and i think that's a better problem that is going to be developed here and do genuine, to get worse. which is why the reason that we see so much debt among the, the gen 0 is that because of course, the debt is so easy to accumulate without, without hardly even making m. oh, right. you have to go in a lot of stores has gone to apple pay all you know out of i don't have a way myself so you can buy from that. you guys are apple valley, but they are advertising that margaret. they want to come in down to spend their money, and they want to accumulate that interest rate because that's just another profit center for the loan. and now after so

many of them focused on fintech. but the magically what areas do you see opportunity in?europe is a large continent and there's a lot of different verticals that can be built here. we are seeing a lot in climate and energy. there's lots in deep tech we have companies, proxima fusion and obviously we can get done without mentioning ai the way it is attacking different verticals. helping lawyers get away from the drudgery and do more productive work. in the health care sector helping nurses be more active. i think we will see successes come from a variety. i think what combines them all is ambitious founders looking to build consequential businesses. ed: a company -- robin ai is known to us. it's interesting because openai is an example of a start up that's taken on a giant. they think the integration of the technology into existing microsoft office but here in the united states it is microsoft, amazon leading the charge. i always think about it as little and large and you can assess the chances that europe has of bringing a big ai player to the fold? >> i think there's a l

fintech, education, egor?rgy is booming, now attracting investments in this market, electric bikes, electric mobility, kenya is now one of the market leaders. partnerships with africa are being built in the oil and gas sector. lukol has been operating in the congo since 2019 and plans to build floating plants for the production of liquefied natural gas in lebanon worth billions of dollars, for example, interest has been shown in the congo. africa supplies russia with raw materials, fabrics, natural materials, vegetables and fruits, trade turnover is approaching. 91 signatures out of 60 were declared invalid as a result of a check of thousands, these are inaccuracies in information about voters, thus, 91 invalid signatures are 15. percent of the number of verified signatures, such a minimum percentage of defects had practically no effect in the end, besides 91 signatures recognized as unreliable due to minor omissions, for example, a voter for... was to indicate the date or put a signature without filling out t

the budget places for them have doubled more, 4700, invest in africa started business, who needs fintechons, educational igorka, alternative energy, superboom. since attracting investments in this market, electric bikes, electric mobility, kenya is now one of the market leaders. partnerships with africa are being built in the oil and gas sector. luk oill has been operating in congo since 2019. plans to build floating plants for the production of liquefied natural gas are injecting billions of dollars, for example, interest has been shown in the congo. africa supplies russia with raw fabrics, natural materials, vegetables and fruits, trade turnover is approaching $20 billion. numbers are a creature. ageneau is on a march to paris, they are traveling from all over france, along the way they are joined by trucks, construction workers and foresters, the capital is frozen in anticipation. do not allow the city to enter, ideally to prevent a long blockade of the city. chaos at airports, taxi drivers suddenly joined the protests, they are also blocking highways and holding mass demonstrations i

fintech, education, gambling, alternative energy, super boom, now attracting investments in this markethips with africa are being built in the oil and gas sector. in congo since 2019 lukol works. plans to build floating liquefied natural gas plants inject billions of dollars. as an example, congo showed interest. africa supplies russia with raw materials and fabrics, natural materials, vegetables and fruits; trade turnover is approaching $20 billion. the numbers are significant, but the request. anna voronina knows how the meeting of the central election commission went. 315,000 signatures, 5 days of verification, here is the result. the central election commission officially registered vladimir at 11:23 moscow time putin as a candidate for the presidency of russia. and for the first time, tsik used artificial intelligence to verify submitted documents. its operation almost completely eliminates errors during verification. our testing complex was certainly used. influenced. in addition, 91 signatures were found to be unreliable due to minor errors. for example, a voter forgot to indicat

fintechs or financial technologies have infiltrated almost all of our lives.an issue that can be considered the beginning of the entry of bank tellers in the financial and banking industry. technologies aimed at increasing speed and security as well as making services non-personal to other areas such as electronic banking industry investment and crowdfunding, validation and payment of loans, insurance and tax area were expanded to make access to financial services easier for the people and businesses of the general public and especially for start-up companies. that easily our services are available to all startups and companies in the country. more than 400 companies are currently using it. services due to their wide range and complexity.

mikhail lyapin - founder of fintech a company that works in the field of online lending, he started buildingtoday has a rare, but in demand. alternative energy is a super boom now attracting investments in this market, electric bikes, electric mobility kenya is now one of the market leaders according to our usual rules, business in african countries cannot be built... all processes on the continent have their own local characteristics, which vary from country to country are different. then africa is a geographical concept, it is not social, not some kind of non-cultural, not business, a tectonic plate, in fact there are even two of them, and a common colonial past, but it is different for everyone, for example in the french colonies it is very different from the british colonies, and the needs are very they are also different, for example, senegalese and kenyans, wow, heaven and earth, there are galaxies between them, generally trillions of years. in order to successfully enter the continent with your startup, it is important to stop thinking about africa in stereotypes that are not related

buyer of the group, which provides financial payment services, was hong kong-based fusion factor fintechongs to the chief executive officer of kyvi andrey protopopov. however, he will leave this post. transaction amount: 23 billion 750 million rubles. payment involves installments for 4 of the year. next, a repurchase of american depositary shares from the nazdak and moscow exchange platforms is planned. the maximum that will be offered for paper is 581 rubles. the money for these transactions will be taken from retained earnings. delimobil promises to start paying dividends this year. investors will receive at least half of the profits. let me remind you that the car sharing service previously announced its entry into the moscow exchange, the placement range is 245-265 rubles per security, the ipo volume will not exceed 3 billion rubles, trading is scheduled for february 7. at the end of the issue, let me remind you that exchange rates for today dollar 89 rubles 28 kopecks, euro 96.78, that’s all i have for now. large-scale projects. modern technologies, new horizons, russia of the pres

and by the way in 2024 it's all regular fins, not fintech.nkly i have a bad history with paypal. we used to own it for the charitable trust then sold it at a loss nearly two years ago when the stock was in the 80s. it was tough to swallow at the time. but given that the stock's now fallen to the high 50s selling was clearly the right thing even though buying it was horrendous. when i talk about my winners i have to talk about my losers. paypal's a loser. you could make an argument it's become cheap as it sells for just ten times this year's earnings estimates. but i don't know. it could be a value trap. also the company has a new ceo alex chris recruited from intuit. that's a company i like very much. but can't make a good fundamental investment case for paypal right now. at the end of the day their core digital payments offering is no longer special. they're being challenged by apple, amazon two, companies it's very hard to compete against. meanwhile, paypal never found a way to make much money off venn moe, its popular peer to peer payments

fintech, education, alternative energy, super boom, now attracting investments in this market, electrictric mobility, kenya now one of the market leaders, partnerships with africa are being built in the oil and gas sector, in '. looil has been operating since 2019, plans to build floating plants for the production of liquefied natural gas, injections worth billions of dollars, for example, interest was shown in the congo: africa supplies russia with raw materials, fabrics, natural materials, vegetables and fruits, trade turnover is approaching $20 billion, the numbers are significant, and the request for humanitarian support is gradually transforming; in burkina fasso, for example , they are asking not for a ready-made harvest, but for seeds. they want to sow themselves. egor grigoriev, matvey popov, news. more than half of us governors supported texas in the border standoff with the biden administration, fox news reported. attorneys general from twenty-six republican states said texas has the right to defend itself against the invasion of millions of people staying illegally. they sent

the buyer was hong kong-based fusion factor fintech limited.f the company, alexey moshchenkov. the transaction price exceeded 23 billion rubles.

the russian fintech company qiwi will hold an extraordinary meeting of shareholders, at which it willa reverse program share repurchase. the meeting will reportedly take place on march 11. recently, qiwi announced plans to sell assets in our country to a hong kong company owned by russian management. the transaction price is 23 billion. the group will repurchase its american depositary shares from nazdak and moscow exchange. the maximum price on the russian trading platform will be 581 rubles per security. the price on the nasa exchange in dollars will be determined taking into account the redemption price in rubles and the central bank exchange rate. meanwhile, on january 29, the moscow exchange will transfer qiwi securities from the first to the third listing level. possible influences are given as the basis for this. in germany, a new strike of railway workers, the previous one lasted only three days, and the one that begins today will last for a week, it seems. industry workers in berlin were not heard, the essence of the claims to the trade unions is to revise working conditions

kivi closed a deal to sell russian assets; the buyer was hong kong-based fusion factor fintech limited. this was stated by the new executive director of the company, alexey moshchenkov. the transaction price exceeded 23 billion rubles. kiva noted that the restructuring of the business will save it. and russia for the first time entered the top five largest suppliers of gold to hong kong. this is a fight metal increased almost sixfold to $5.5 billion, reports have been written about this. at the same time , russia's share in hong kong imports has almost quadrupled to 9.5%. switzerland became the main exporter of gold with a share. followed by uae, australia and japan. it was economic news, briefly. alfabank was the first in russia to cancel all fees for transfers of payments. order your free alpha debit card. not just profitable, alpha profitable. it is profitable to retire in the new year with a savings bank. pensioners get a free savings card, a favorable deposit rate, so that please yourself more often, cashback with bonuses in pharmacies to take care of yourself, a discount on a loa

the russian fintech company in kiev will hold an extraordinary meeting of shareholders, at which a sharerogram will be approved. the meeting will reportedly take place on march 11. recently, qiwi announced plans to sell assets in our country. hong kong company. which belongs to russian management. transaction price 23 billion 750 million rubles. the group will repurchase its american depositary shares from nazdak and the moscow exchange. the maximum price on the russian trading platform will be 581 rubles per security. price on the nasa exchange in dollars will be determined taking into account the redemption price in rubles and the central bank exchange rate. in germany, there is a new strike by railway workers. the previous one lasted only 3 days, but... which starts today, will last for a week, the essence of the claims to the trade unions is the revision of the conditions: work and wage conditions , as a rule, are determined by rising prices for the consumer basket, that is, for basic food products, here accordingly, if this is not done, then along the chain, like a domino effect, th

fintechs or financial technologies have penetrated almost all of our lives.issue that can be considered the beginning of the entry of bank tellers in the financial and banking industry. technologies that aim to increase speed and security as well as make services non-personal to other areas such as electronic banking, payment industry, investment and crowdfunding. validation and payment of loans, insurance and tax area expanded to the access of public institutions, businesses. make it easy for people and especially start-up companies to access financial services. we give this permission with the company and startups and especially daneshmanian companies so that i can access banking services for financial payments more easily. our services are available to all startups and companies in the country. more than 400 companies are currently using it. services that , due to the wide range and complexity of each of them, it is not possible to provide them directly from banks. it is not effective for this reason technavar, a knowledge-based and nascent provider of fin

to wonder what there is or to multiply some crazy interest on these microfinance organizations of fintechs, because a short loan and a loan for a year or for two by three - these are completely different financial instruments. sir andrii, but on the other hand, we always know that there are exceptions to every rule, and we understand that there are older people. there are people who are not fully responsible financially, and so on and so forth, there is the influence of force majeure, which in ukraine is constantly present in similar situations, and sometimes we are faced with wildly wild stories, when people receive millions the amount for a loan in some, i do n't know, two to 5 thousand uah, 500 uah, usually, usually the age category of people who use such... loans, these are not people there are older or elderly people, it is more young people or middle-aged people , on the other hand, you know, if a person, for example, took a loan from an individual or from a microfinance organization or from a bank and does not pay his obligations, then you know , in all three cases that i mentioned

and while the rise of fintech has been rate for convenience, it has created some nasty habits and consumption patterns or people are encouraged to buy now. pay later to this mentality has created deeper debt for millions as close to one and 5 americans say they have used one of these b, n p l services in the past 12 months. in contrast, these b, n p o users don't have interest fees, but can incur late fees for missed or late payments. so this can result in charges that exceed typical credit card interest rates, causing more harm than a simple interest payment. especially when it comes to gen, the credit card debt is increasing and it's falling behind on payments faster than any other generation. so for this and more or less bringing again by the horwitz. so now by how do you spending pad is very across different regions globally, and what factors contribute to these variations as well as the factors you look at is again, if you're more established, obviously you're more concerned objectively. and you're going to be more careful. and you probably make enough money to go ahead and satisfy that.

so they have to work hard and now with the rise additional payments and fintech solution, how does the landscape of credit card debt change? was always get worse because again, the easy you may get this done, those dollars the easier by the region by box and even i can just put it on my phone or i can just, you know, do something else that makes it very easy to make it for people to spend money, but more money they're gonna stop. and i think that's a better problem that is going to be developed here and do genuine to get worse, which is one of the reasons that we see so much debt among the, the gen zeros is because of course the debt is so easy to accumulate without without hardly even making m. oh right. you have to go in a lot of stores have gone to apple pay all you know a lot of places. i'd rather i don't have a way myself so you can buy from that. you guys are apple barely, but they're advertising that margaret. they want the man down to spend their money and they want to accumulate that interest rate to be. that's just another profit center for the long and now after someone accu

we created a new model where we had both people leading the fintech division.arket tech, our anti-financial crime suite, which is the integrity pillar, it also includes calypso and acxiom sl. we now have a complete suite of solutions we can offer banks, brokers and exchanges around the world to manage risk, exposure and route criminals out. it's going really well. when we assess acquisitions today, we deep dive the culture. values alignment is critical to success. we've been bringing new companies and capabilities in. we make sure we have cultural alignment. that speeds integration along. we are off to a strong start. david: when you announced the deal you emphasized the future growth opportunities. you didn't talk much about cost. now you are doing integration. are you looking at savings? adena: both. when we announced, we announced $80 million of net expense synergies. over medium to long-term, $50 million of revenue from expanding the business. we are on track on both fronts. with the expense synergies, we have a clear path. we expect to achieve that over th

jack dorsey's fintech will begin cutting jobs as part of a go to cap its workforce at 12,000.ic details on how any jobs are affected. they will report third-quarter earnings in november. they have been trying to rain because to be prophets. and reducing headcount after the takeover of credit suisse, sources say several cuts were made last week. the workforce jumped to about 120,000 when the deal closed in june. the bank says it aims to save about $6 billion in staff costs in the coming years. annabelle: we can stick with that theme of job cuts at banks, because the japanese lender nomura announcing it is cutting 60 staff and most of that is in investment banking, ahead of its earnings result later today. let's crossover to tokyo and are asian reporter, it does seem like there are job cuts underfoot at ubs as well as nomura. what exactly does it signal to us? >> the job cuts are flowing worldwide in the banking sector. the latest big news coming from number overnight, 60 jobs being cut, 30 in the u.s., mostly in investment banking. this reflects the slump in global dealmaking t

a new operating motto where we -- motto where we have both adenz : and nasdaq people leading the fintechision. now it is comprised of technology markets, our anti-financial crime suite in the integrity filler and includes the adenza product calypso risk management and regulatory reporting. now we have a complete suite of solutions we can offer banks, brokers, and exchanges around the world to manage risk, manage exposure to capital markets, and route criminals out of the system. i would say it is going really well. when we assess acquisitions today we do a deep dive on the culture. we think cultural alignment, values alignment, is actually a critical component of success. we have been bringing new companies and capabilities into nasdaq. we make sure we have cultural alignment. that speeds integration along. we are off to a very strong start now with adenza as part of nasdaq. david: you emphasized future growth opportunities for nasdaq. you did not talk much about cost saving. that's unusual. now you are doing integration. are you looking at substantial savings as well as growth? adena: b

to me it's fintech.has the same supply considerations as gold but that's about where the similarities end in my view. guy: it's amazing to see that run recently. great to see you and thank you very much indeed for stopping by. still ahead, tesla hitting the mark on fourth-quarter delivery is competition in the ev market hits up. we will talk about rivian as well. this is bloomberg. ♪ (upbeat music) there's more to business than the business you're in. if you use data, that's the privacy business. manufacturing on demand? you're talking cloud business. got a few million hyper-connected customers? digital experience business. that was fast. that's where deloitte comes in. with the right combination of talent and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. sonali: it is 20 past seven on the west coast let's get to the startup where we cover the top tech stories from the bay area and beyond just as silicon valley starts its morning. ed l

it's principally coming from middle markets and strong performance from the two fintech lending platformsquired the past few years. guy: let's come back to the end. you are starting to see an impact in the way you run your business. we have heard from all of the big bank ceos the last few days and they have all poured cold water on it. they don't see this as the ed -- endgame, they see changes and tweaks. what would you like to see changed here, what do you expect to see changed and what will the final picture end up looking like? >> that's an excellent question. from my point of view, i think we expect to see improvements in the current proposal in areas of operational risk. i am hopeful we will see improvements in the capital rules attached to products like mortgages. i don't think anybody believes that housing is too affordable in the u.s. particular for folks who are first-time homeowners. in general, if we get a little bit of relief on capital associate with lending activities, it will bring risk-weighted asset calculations down. that means if we operated higher capital levels, the a

being evoked, in the 2021-20 regulatory crackdown campaigns for the chinese governments targeted finteche gaming giant including tencent and many others. and in the latest rules in late december, china's gaming regulators said that it would be issuing a set of rules which is still soliciting opinions from the society that it would curb videogame players playing time, spending multiple mobile games as well as video games of course has been badly received by the market. we can see severe drops in shares. but there have been some signs of easing from regulators recently. for example, they reproved 105 video games domestically, including those being run by tencent. also, two media reports signal that senior officials overseeing the gaming regulators have been called to step down. caroline: we've got 30 seconds, but what is it that investors need to keep their eyes on to make sure they are reading the tea leaves right? >> more signs of easing, for sure is comforting, but i think investors at this time do need to see the concrete signs that the government is supporting the sector, not just say

>> it means people are looking -- if you've got another fintech company that doesn't have payment capabilityy're interested in is taking that capability that we've developed. you know, our capability is global, highly scaleable, and utilizing that to solve a piece of their overall value proposition that they're putting out to their individual customer, and so demand means that our existing customers are contained to seek growth. it means we have new customers interested in product offerings we have. >> can you illuminate some of your businesses? you do health care benefits and benefits for health care professionals. essentially why do the large companies turn to you for this? >> so similarly the larger companies are looking at us as an underlying technology provider. so they're going into the marketplace. they might be white labeling our products and selling them directly into businesses where they're tracking overall tax-deferred accounts. so people come to us for the underlying technology capability for the up time we have within those customer segments. if you look at the trends there, yo

kbw citing the stock run up for the smack down and not the worst thing in the world and fintech favorederation soared 114% over the past year and kbw is concerned about sofi's potential for slower loan growth origination and tech revenue this year. disney's thinking there might be safety in numbers and entertain want conglomerate. tryan pressuring disney to change and value we're fine with disney and supporting ceo bob iger and his nominee at the shareholder meeting. they include former morgan stanley ceo james gorman and sky box jeremy derrick. black wells capital is swirling. they're nominating directors to run against not disney and iger but the more hostile tryan and nelson peltz and last year that peltz nominated himself and former ceo to the board citing lack of stock performance and stock up 2% over the past year after 1.5 billion loss in the streaming division and underperformance in the movie division. today disney is up just under 1%. a choppy session after the stake steak house parent added two new members for the board. change comes as far of agreement between blumen and sta

we've been trying to get out forever and we have stripe and maybe klarna all getting out sort of in a fintech follow-on on. that's the prime list and the others that were mentioned i'm not sure will be mentioned or want to go out in the cycle. >> what holds them back? they've been trying to go out forever. what is the impediment there. the markets just didn't want them. and they say now is the time. >> i think the time is coming. i think the bankers will say, hey, this is a time to go back out again, you guys are such solid companies, very simply, and these are the tech company it is that are high interest rates and low interest rates, it doesn't matter and they're creating value all by themselves. >> we have this chart up here in 2020, and 2021, what was the surge driving it then? rising markets? >> oh, low interest rates. come on. bubbles are created by crazy low interest rates, and so you get crazy bubbles. >> as interest rates come down you would expect some of these other companies to finally get over the fence? >> quite the opposite. >> i think if interest rates don't come down or maybe

what's your take >> so this is dan dolov, the finist of fintech analysts, and dan is pointing out the pressure, the competitive pressure, paypal has felt in e-commerce, their share of check-out, continues to get worse according to his checks. apple is just blowing them out of the water basically and that's been going on for news, so it's not news what is news is dan has been one of the analysts willing to say, okay, we understand the competitive situation but the stock has already come down a lot and maybe we're overly discounting that threat. and today it seems like he's throwing in the towel and giving up on that idea. that's the story with the stock. they've lost $300 billion worth of market cap already. so i think the threat is -- i think the threat is well understood i think the only debate now is can paypal find growth, or can they not the stock is priced for zero growth, none if they find something to do, then all of a sudden the story changes. and if they don't, the stock remains right where it is or worse. >> jimmy, nxp to overweight from equal. price target to 260 from 300 t

this other one is fintech, they're all a-list stocks. i think they are places -- i think a pullback in the big tech names is ridiculous. to your point, you and i discussed who would thought j.j. would be quit to start to cut rates. he is not. he made that finally. liz: he is not ready to declare victory and say we're on track for a soft landing. but listen, kenny as we watch the markets, the dow looks close to session lows, you have 10 seconds down 315. what happens tomorrow? >> you know actually i think tomorrow there is a little bit more pressure. if we close on the lows today, close on the lows today you get a test tomorrow. i think initially we get a little bit of a selloff tomorrow morning. [closing bell rings. liz:] kenny polcari our friend always. the markets in the red. they don't like what the fed had to say. we have sigh work swoosh sky works solutions ♪

so really a lot of financial innovation, what we call fintech is really just digital wallpaper.s a fresh coat of paint on the old industry. right. it's a new, sleek user interface that makes interacting with the old banking world just a bit more appealing and a little less painful. but it's not getting at the deep root of things right. it's not fixing the plumbing or the electrical, the framing or this deep structure of, the industry. it's just fixing something on, the surface. so what's interesting about defi decentralized finance is that defi is trying to reimagine every aspect, what the industry does not, just how we move value, but how we store value, how we access credit, how we connect entrepreneurs with investors how we do insurance, how we exchange assets and so on and so forth. and defi today is relatively small. the total asset value that's in this ecosystem is less than $100 billion, which sounds like a big. but it isn't when you think about how big the industry is, but very leaders in the banking world paying attention. the ceo of one of the biggest banks in the worl