we are not here to praise german gensler -- chairman gensler. but to bury him. but let me say this about his time in office. we have a limited government with limited power. even if the independent agencies don't sit easily within the original framers' intent. within those limited powers afforded to the federal government by the states the expectation expressed in federalist 70, for example, is we would have energy in the executive. i can think of few public servants who over their careers have more embodied energy in the executive then chairman gensler. maybe you can make an argument for lena con or henry kissinger, john bolton. people who use their power to achieve their end efficiently, effectively, without a single-minded sensuousness. gary gensler, i would disagree with 80% or 90% of his rulemaking. upwards of 80% of his rulemakings were not specifically mandated by congress. it's a very active time. let me contrast the gensler regime to another way of particular republican way of being a chairman of the sec. wes hamilton had more property. -- more hypocris

when gensler leaves. champ is here to tell us how he would handle crypto if nominated and investors have been sprinting to prediction market site kashi to bet on all donald trump's cabinet nominees, the co-founder is here in a fox business exclusive on the latest odds. the "clayman countdown" is coming right back. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. i love my brand new bike! having a set of custom wheels gives kids like me and me the ability to do things we could only dream of before. throug

crypto's bull run — the chair of the sec, gary gensler, steps down as bitcoin nears the $100,000 markyet another bump in the road for europe's ev industry. battery start—up northvolt goes bust as uk car—makers call on the government to ease sales targets. spain fines a series of budget airlines, including rya nair and easyjet. we'll explain why and what it means for passengers. the ultimate game, black myth: wukong, is crowned game of the year at the golden joystick awards, in what has been a tough year for the industry. welcome to business today. let's start in the us where the chair of the us financial regulator, the securities and exchange commission, gary gensler has announced that he is stepping down on the day of donald trump's inauguration in january. the president—elect revealed plans to sack mr gensler on "day one" of his new administration — after the chairman took legal action against crypto firms, sparking controversy in some quarters. the news comes as investors are eyeing bitcoin as it approaches the historic $100,000 mark. gary gensler was seen as aggressive in his over

crypto's bull run — the chair of the sec, gary gensler, steps down as bitcoin nears the $100,000 markyet another bump in the road for europe's ev industry — battery start—up northvolt goes bust as uk carmakers call on the government to ease sales targets. boosting the economy — japan is set to approve a massive stimulus package as inflation accelerates. and: the ultimate game — black myth: wukong is crowned game of the year at the golden joystick awards in what has been a tough year for the industry. live from london, this is business today, i'm lukwesa burak. battery start—up northvolt goes bust as uk carmakers call on the government to ease sales targets. a massive stimulus package as inflation accelerates. black myth: wukong is crowned game of the year at the golden joystick awards in what has been a tough year for the industry. live from london, this is business today, i'm lukwesa burak. let's start in the us, where the chair of the us financial regulator — the securities and exchange commission — gary gensler has announced that he is stepping down on the day of donald trump's ina

.: the president -- precedent for this is the gensler 180 on proxy disclosure. it's a pretty straightforward rule. similar to credit rating agency guidance that progressives and pension funds supported, but when it came to their ally, the proxy funds, they did not like that. they wanted to stop it. gensler came in after new rules adopted and first set of not going to enforce it. sorry. i know you adopted a rule but i'm not going to enforce it. then he said about undoing it -- said abou -- set about undoing it. there were lawsuits. wallace: i can't recall. j.w.: that was probably the precedent for doing so they like that. it is hard for me the objective -- to be objective about the role. i did a 30 page comment letter on it. i cited more to -- in order to demonstrate materiality i side to a lot of international climate accords and policymaking bodies that has no relevance for the reality of the federal securities laws. i can't pretend the upper house -- emperor has clothes on. it threatened to be disrespectful to the good folks. i'm such a hard critic that i cann

mark for bitcoin and this comes after the securities and exchange commission said its chairman gary gensler who led a revelatory crackdown on the crypto industry will be stepping down. president—elect donald trump who will take office in january donald trump who will take office injanuary is viewed to be supportive of cryptocurrency�*s. the bbc�*s ritika gupta has more from new york. bitcoin is heading towards the $100,000 threshold while the master number itself is more psychological than meaningful, it is striking that bitcoin is notching record after record high and the latest boost has come from the announcement that a securities and exchange commission chair, gary gensler, who led a us crack down on cryptocurrency will step down onjanuary on cryptocurrency will step down on january 20. that's also the day donald trump will be sworn into the white house. investors have remained bullished the policies from the incoming trump administration, bitcoin has soared about 40% since trump's presidential victory. and reports of president—elect�*s transition team discussing the possibility of a fi

i just want to get your thoughts, a, on a gensler sec.gary gary gensler and company failed because digital currencies, bitcoin, for example, blockchain, this was, this was, like, the train already left the station, and they're, like, holding it back and, therefore, causing a train wreck. there wasn't any mergers, acquisitions, any kind of deals. couldn't get done in that entire space. but look now. the price of bitcoin is telling us where we're going, and i think we're going to see a lot better leadership whether it's paul atkins or dan gallagher -- charles: those are the names that you think? >> those are the names that that i'm hearing. dan is over at robinhood. charles: i talked about lemming the playing field. -- leveling the playing field, but it's incumbent upon investors to do that on their own. how can folks enlighten themselves? because i was at the airport the other day, a kid maybe 25, 26, he's in the market but he's struggling. >> use your common sense, use the opportunity that wall street doesn't have which is really to be ou

sceptic and chair of the sec, gary gensler steps down as bitcoin nears the $100,000 mark. plus, turbulence for carriers in spain after its regulator fines a series of european budget airlines. we'll explain why and what it means for passengers. and the trillion dollar question. as climate talks come to an end in baku, who will foot the bill to help the world's poorest countries go green? welcome to business today, live from new york, i'm ritika gupta. it could be a lacklustre end to a busy week on wall street, with investors looking to lock in gains. in about half an hour from now, we'll have the latest figures from the purchasing managers index for november, with analysts expecting a slight bounce back from the manufacturing sector. looking back at the week, investors have had a lot to weigh up. blockbuster profits from al giant nvidia, partly overshadowed by forecasts of slowing growth. the news that america's top financial regulator, sec chair gary gensler, will step down has boosted appetite for crypto assets. but we're still no closer to finding out who will be treasu

this coming security and exchange commission or gary gensler says he will resign effective january 20, 2025, president trump's first day in office, resistance, the democrat governors are playing claiming they will not help trump's incoming crackdown on illegal migration as biden administration loosens restrictions on that in at the border making the dangerous situation even worse before leaving office, homeland security secretary mayorkas and director red claim to be refusing to testify in front of the senate homeland security committee about the state of danger america is in right now. were getting into the fight for accountability in washington all morning long, futures indicating a decline at the start of trading, stocks are lower, dow industrial down 92, nasdaq 1096 and s&p 500 lower by 19 and a quarter. after a broad-based rally yesterday, dow industrial finishing up 500 yesterday as investors turned their attention away from tech and lot names tied to economic growth, they're down duster 461 at 4:00 o'clock on wall street better than 1%, look at bitcoin hovering below $99000. bi

we heard from gary gensler that he will step down before january, pointing to deregulation. very close to breaking 100,000 level. tom: hard to overstate the animosity toward gary gensler indeed. now to the story of the moment. russia launched a missile at ukraine sending signals to western backers. let's bring in all of her croak. ollie, what do we know? oliver: yeah, tom. you're asking all the right questions. what we heard from vladimir putin yesterday was this was retaliation within russia, a lot of back and forth. ukrainian said it was in the u.s. that it was midrange. this was fired 1000 kilometers from the caspian sea, same week putin change their doctrine lowering the bar for a nuclear response when we heard about negotiations, russian president, unpacking all this to figure out how much is true, how much is negotiation, we heard from the kremlin spokesman saying russia holds a responsible position and notified the u.s.. there's been a lot of concern, mainly gold having his best week , a lot of concerns about the conflict. tom: yeah, market reaction is there. talk abo

gensler steps down on january 20th. would you want the job? will you take it?sident to make. what i can tell you is that whoever steps in that job, there is a lot of work that needs to be done to address some of the regulatory excesses not only at the sec, but at a other administrative agencies. there are a lot of new rules and regulations that were rolled out. there are a lot of unintended consequences, many of which will need to be addressed. [laughter] stuart: you sound like you're auditioning for the job because you're coming out with all the things that trump wants to see, right? are you auditioning? are you throwing your hat in the ring? >> well, i'm just going back to my experience at the last transition we had with president trump president trump. i was fortunate to be on our executive staff as a senior adviser to acting chairman who was named by president trump the take over the agency. after the obama administration. and there are so many things like the situation was back then that need to be addressed. back hen it was many of the regulatory overreac

gensler will step down on donald trump's inauguration day.minal court which you should arrest warrants for benjamin netanyahu and the israeli defense minister accusing them of war crimes after israel moved to defend itself after killing 1200 mostly civilians on october 7th next year. that means benjamin netanyahu and gallant would face the risk of arrest if they travel to one of the court's 124 member nations. they should an arrest warrant for top hamas military leader, already killed in a strike. the icc is after benjamin netanyahu and gallant for crimes against humanity during the israeli military strip including starvation as a weapon, directing attacks against civilians. the warrant comes as netanyahu ramps up efforts to bring israeli hostages home up. there are 65 hostages presumed to still be alive in gaza and benjamin netanyahu is offering a $5 million reward per captive to any palestinian or anyone who helps secure their freedom. israeli ambassador to the united nations called the icc decision diplomatic terrorism. define democratic t

chairman gary gensler on day one. >> on day one.gensler recently signaled he may soon resign after president-elect trump massive election win. here's a look at some of the rumored contenders trump is considering for the chairman of the s.e.c. i want to get your take on what's the most important thing that that person should do in the early days of this new role at the s.e.c., should one of these folks get them. >> i think working with congress and identifying here is the gaps in existing laws that create the confusion. i think -- i don't know all those candidates personally but there's a bunch of very strong candidates up there that i think aaren't going to pretend the rules are clear. gary gensler would testify in front of congress and would say the rules are clear but the flex sentence he wouldn't answer the question is, e a security. it's a head in the sand. it's a new dawn for crypto in the united states and i think we really ca can make this the heartbeat of the crypto block chain industry in the next five or 1 10 years. maria:

can trump force out gary gensler if you wants and put in crypto friendly sec chair?hat is something we are curious to find out. katie: a big open question. the fate of gary gensler. that is mike regan, team leader for crypto coverage at bloomberg news. crypto is one part of trump's proposed policies. we are looking at how companies are bracing for a new era of trump tariffs. national retail federation president and ceo matthew shea joins us next. this is bloomberg. ♪ what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 yea

and gary gensler who had a strong attitude of crypto and bitcoin.has already taken off and encroaching on the $90,000 mark. a lot of take aways. social media is another area that trump has a social media platform and elon musk is a beneficiary with twitter. frank. >> a lot of names, karen. you said there are a number of startups there. there are a number of startups waiting to go public next year. is there a similar landscape in europe? >> reporter: i'm struggling to hear that question, frank. it is a bit loud. some tech companies have been able to raise a large amount of money with the large language models. a.i. has had support. h is another one. i think there is a lot of support for the big a.i. companies that have been able to get in front of investors. of course, the exit is all important and that's the conversation i'll have with vcs as you get the companies access, it frees up the pipeline for more investment to go into other companies. that pipeline has been stuck in recent years. if we see smooth flowing exits here, that could be fundamenta

we know that he is going to fire gary gensler on day one.d: you are working with the harris campaign, but you are complementary of what former president trump, how he is approaching this. we had gary gensler on the show last weekend caroline asked him very simply about his retention of his job. what is your position on leadership at the sec in that respect? kristin: gary gensler has got to go. there is no question about that. with the change in administration there is an opportunity to make that change. i think we know it is pretty clear where trump stands. harris, i think we are hopeful. she has had the shortest presidential campaign in history, but she is talking with the tech community. she is open-minded. she said some positive things about crypto. she is not as precise in her policies, but i think we are optimistic that if she wins there will be an opportunity for change at the top as well. caroline: can you articulate the precision of the policies coming from the trump campaign? for me it sounds like we want to be more adopted in the u

gary gensler set america back 20 years.re we need to be in terms of the digital asset economy with stable coins and it really, thank god president trump is here, it's really going to unlock a new era for america and in fin tech. maria: i know you want to be number one ahead of china. china also wants that role. do you want to say anything about china and pushing back on some of the passage of a legislation to exclude u.s. sanctioned companies. chinese companies, and their subsidiaries from having access to our capital markets. you've got plenty of chinese stock still trading on our exchanges, some of which are sanctioned. >> absolutely. when president xi wakes up every single morning his goal is to become the world's sole super power by 2050. they want to destroy the american economy. i really believe that china is our biggest threat from a national security perspective. they want to get in bed with other countries. they want to get in bed with other communist regimes. it's time for america to lead here in digital assets. o

gensler was appointed by president biden in 2021.e has taken an ambitious and controversial approach to several regulatory issues, including cryptocurrency. this move ves the way for donald trump to no, minate a replacement. he would have served through june of 2026 if he carried out his full term. >>> in the meantime, howard lutnick planning to step down from his three businesses and divest interests in the two public companies if he's confirmed to the post. statements from bgc group and newmark saying lutnick will divest, but not plan to zealot open market. we will step down leadership at the companies as cantor fitzgerald and this has always been an interesting economic play for those folks who have very low basis stock because what ultimately you are able to do, potentially, diversify your way out of something where you are locked in. you get to put it in treasuries and then if you have enormous amount of money, most people will take loans effectively against those treasuries often times for the rest of their lives so when you pa

gensler insisted the stricter regulations were meant to protect investors.eet today, stocks were higher on really an up and down day for the markets. the dow did end up more than 461 points higher, more than 1%. the nasdaq was slightly up and the s&p was up more than 31 points. shares in google's parent company did drop nearly 5% after regulators asked a judge to break up the tech giant by forcing it to sell its chrome web browser. governor newsom governor newsom was in the central valley today where he made an announcement about jobs and improving the state's economy. now the governor is visiting counties. donald trump won during the presidential election in hopes of connecting with people who feel frustrated by the economy. this afternoon, he was in fresno, highlighting his initiative on jobs and also made announcements about job creation and bolstering california's economy. >> 13 now of these plans, this is the first we've received in the state, 502 pages. those 13 plans will come together in january. we'll be releasing the most comprehensive, nuanced sec

there are reports about gensler's possibly stepping down in january. we will monetary it and see if we hit six digits. nvidia is lower today despite another solid quarter with revenue nearly doubling year over year. the guidance was ahead of estimates but the bar was very high and could be a sticking point for investors. are we going to kwibl about a 1% decline? the stocks tripled this year. my next guest has a buy rating on the stock. he acknowledges supply constraints he expects them to be short lived. he has a 17 # price target on the stock. why do you think there is some selling off here and is it even significant given that last time around i think the shares were down 6, 7% on results and they still rallied sharply into this quarter. >> yeah, we don't think it's all that significant. first of all, the demand is very strong right now. one indication, one positive surprise in the quarter if you look at the hopper demand, current product they are shipping in q3 and q4, that grew 5 billion sequentially. that's the fastest in the last four quarters. i

one of trump's campaign promises was to remove gensler over his stance on cryptocurrency.the stricter regulations were meant to protect investors. >> well, coming up tonight, eight suspects, including a 12 year old, all accused of targeting several walgreens across san francisco. >> also in the city, the murder trial continued today. the new round of witnesses who took the stand for the defense. >> and a whole lot of rain has come down in the north bay and in just a few hours, the rest of the bay area will feel the impact of this latest storm. our chief meteorologist, bill martin, has the timeline for you. coming up nex (♪) when your child has moderate to severe eczema, it's okay for them to show off. show off their clearer skin and noticeably less itch, with dupixent. because children 6 months and older with eczema have plenty of reasons to show off their skin. with dupixent, the number one prescribed biologic by dermatologists and allergists, they can stay ahead of their eczema. it helps block a key source of inflammation inside the body that can cause eczema to help hea

another one is gary gensler. i think you'll see dozens of lawsuits against the s.e.c.or overreaching on regulation. one way that people are enthusiastic that they're hope um a newer regime may see a lot of this go away. >>> always great to see both of you. >>> the bond when they delivered that rate cut. he's here with more buzz and discussion, rick. we have a terrific bond auction today. >> what are your thoughts today? here it is, and why are those things happening? it's structural inflationary pressurers here. >> you don't think your, the reality is trump is telling -- what the world wants, populism, a rebalances of inequality. if that happens, that's structurally inflationary. tariffs, we may need them? , but that's inflationary. that's what the curve steepener is all about. once that gets going, you have bigger structure issues, inflation can be entrenched. >> i can't disagree with any of that. even at a 460-ish 30-year bond yield, do you really think the market is petrified of a huge bottom of inflation. i would think we would get a whole lot more for that fear fa

larry: gary gensler at sec was opposed to crypto currency. >> right, that was holding it back. one things we're seeing in bitcoin in stocks is really a surprise rally, people, remember we went through this before, cfo's of the world, the people thought trump would win but a lot of the business leaders did not. what we're seeing is a rally as everyone suddenly realizes an upside they didn't see coming. >> by the way gensler announced he will step down from sec january 20, he has the message. larry: when did he announce it in a couple hours ago. >> how about that. >> you have a feeling people in crypto and new regulatory regime, that overall lower regulation, may be allows people like brian armstrong of coin base to meet with the president. larry: take a deep breath. later in the show we'll run a interview his with ted cruz, senator ted cruz, we taped it about an hour ago. he is a big crypto currency advocate, he mentioned, in the course of the interview he was a crypto m miner. he owned crypto mines, i said that is wonderful, i did not realize what he was talking about. >> a bun

. - a couple of months ago, i spoke to the head of the securities and exchange commission gary genslerallel between what he described as the hucksters and grifters who sell crypto today and the kind of stock market behaviour that precipitated the crash of the 1920s and the great depression that follows. what do you make of that comparison? is it isita is it a bit dramatic or on the button? i is it a bit dramatic or on the button? ., ., ~' is it a bit dramatic or on the button? ., ., ~ , button? i do not think it is that dramatic _ button? i do not think it is that dramatic a _ button? i do not think it is | that dramatic a comparison because there are a huge number of scams around in the world of crypto currency. the problem is that gary has been excellent at diagnosing the problem is that not so great that the solutions, as we saw with his failure to stop the fdx scandal, where there was massive fraud committed. the one thing i would say, that is pushed crypto prices at more than anything else is donald trump's promise at the crypto currency conference earlier this year to fire gary g

gensler couldn't speak specifically about paul, but he told us...ght be, don't go out and tout something and mislead the public. because it's illegal? yeah. it's also wrong. there are still questions around paul's crypto activities, but instead of answering them, he chose to send a lookalike. in doing so, he appears to be ambivalent about what happens to fans who invested based on his endorsements. and with a class—action claim filed for his failed cryptozoo project, the allegations around paul exploiting his significant platform to promote cryptocurrency continue to mount. logan paul has consistently denied any wrongdoing and blames other team members for the failure of the cryptozoo project. the full report is available on the bbc iplayer. coming up, we will hear more from matt in terms of that investigation. we will also have the latest on the news that the uk's storm shadow missiles have been used inside russia for the first time, this comes after the americans allowed the missiles they gave to be used in russia yesterday. the bbc understands th

i know we've had so many complaints around gary gensler at the s.e.c. the most onerous in terms of rules stopping more expansion of this industry, perry ann, and how do you think that is tweaked? >> it is the lack of regulatory clarity coupled with a very aggressive regulation by enforcement posture of the securities and exchange commission. that's why chairman gensler has been so heavily criticized by this industry. he's out there saying everything is a security. at the same time, you have the cftc saying no, many digital assets are commodities. the s.e.c. has really taken the spotlight as the lead regulator, the lead voice in crypto, in cryptocurrency, which is incorrect. cryptocurrencys are commodities. it's really the cftc that should be in that lead role. so when you have this regulation by enforcement posture, the s.e.c. coming after some of our most brilliant companies across the united states and saying got you, you actually were a security even though you may have thought you were a commodity. we're not going to give you any guidance. there's n

gary gensler is going away, we know that.rump is going to replace him at the securities and exchange commission. and with that comes the elimination of a ton of rules and regulations that gensler has put on business. >> yes, without a doubt. and as it relates to crypto overall and regulations surrounding crypto and bitcoin, that's certainly not something that the crypto bulls have liked hearing about. they don't want the regulation. they want to be able -- kind of want it off the radar. i almost wonder if a little bit of regulation on it, you know, assuming they're not overstepping their bounds, might actually legitimize it more as a legitimate currency. maria: you need guardrails. you need guardrails in place. what i was saying is we just need clarity. there's going to be a lost rules, okay. there's going to be fewer rules, okay. we need clarity. there's too many regulators, the s.e.c., everyone wants a piece of crypto. >> correct. you just look at -- the trump administration overall is going to relax regulations, whether it

of gary gensler at the sec was very much opposed to cryptocurrencies. >> that's absolutely right.hat was really holding back cryptocurrencies. one of the things we're seeing in bitcoin, in stocks is really a surprise rally. people -- remember, we went through this once before on the show. the cfos of the world, a lot of the business leaders -- the people thought trump would win, but a lot of the business leaders did not. so what we're seeing is a rally as everybody suddenly realizes an upside that they didn't see coming. >> by the way, gary gensler announced today he is going to step down effective january 20, so he's sort of gotten the message -- larry: when did he announce that? >> today, during our show. larry: whoa, how about that? >> again, you sort of have this feeling that people in crypto want a new regulatory regime, overall lower regulation that a maybe allows people like brian armstrong of coinbase to meet with the president. larry: so just take a deep breath for one moment later in the show we're going to run a wonderful interview i had with senator ted cruz who's a gr

how bad is the mess that gary gensler left behind? as you kno, i followed him at the cftc, but the mess during his time there was a mess. the talent had left the agency, some of the talent you rely on for the agency's daily activities. there was -- the agency had unionized following his departure because they felt so mistreated and had reached a federal if impasse panel because there was no agreement. one thing i'm very proud of in my two and a half years as chairman, i was able to reach the first collective bargaining agreement in the history of the agency cleaning up that mess. >> what do you think the new sec chairman will have to clean up? >> perhaps even worse than i found at the cftc. talent has left. you've got -- what's left are dead-enders, people that don't want to come in the office. i understand the sec, they're required to be in the office one day per pay period. >> really? >> once every two weeks. >> government employees are calling it in. >> calling it in. right in how can you get all the policy initiatives that need to

they had a tense relationship with that regulator under gary gensler.he agency, though, issued a wells notice to robinhood and gensler's potential removal seen as a win for robinhood in any less hostile stance toward crypto would be a good thing for robinhood and crypto. thomas teterffy approximate will be on "closing bell." >> more on today's post election rally and the move in yields, blackrock's rick rieder will join us. you're watching "closing bell" on cnbc. did you ever worry we wouldn't get to enjoy this? [jeff laughs maniacally] (inner monologue) seriously, i'm on the green and all i can think about is all the green i'm spending on 3 kids in college. with empower, i get all of my financial questions answered. so i don't have to worry. empower. what's next. wall street forecasts over $100 billion in sales for weight loss drugs known as glp-1. even with disliked injections. dehydratech processing of a glp-1 drug demonstrated improved blood sugar reduction and reduced side effects. study results are arriving monthly and lexaria has entered a new re

well, look, just yesterday, gensler announced that he is stepping down on inauguration day.r sec chairs to do that when there's a change in power, but it's another reminder kate, that in just a few weeks, the president elect is going to be in a position to pick friendlier regulators to the crypto industry. >> and what what is this about trump's company getting into crypto in like a processing payment? what is this? yeah. so we're talking about truthsocial owner trump media. >> they filed paperwork trademark application indicating that they are thinking about getting into the crypto space. specifically, they filed an application for what's being called truthfi. it's a cryptocurrency payment processing application for digital wallet digital asset trading, financial asset management. this would be an expansion away from just social media. now we don't know for sure if they're going to do this, but clearly this indicates that they are talking about it. i also think that this is another reminder of the thorny conflict of interest issues raised by trump's victory and his sprawling

gary gensler said he was going to step down january 20th, widely regarded as an enemy of crypto.e's a less hostile environment when it comes to the sec. might let them ship products faster. on the sec appointment jokes like having a friend who buys a boat. every name floated is someone he likes and respects and has worked with. it's going to be hard to go wrong with the names he has floated out there whether that's folks like paul yads adkins. back to you. >> he was very much -- this was newsy for folks tracking this in the crypto world because he was seen as the name being floated for sec. what is your sense of others that might be on the short list if he's removing himself from the situation. >> it was interesting, interviewed the ceo of robinhood, and he described dan gallagher as the crypto king this week. there was hope he might be in that chair. the hope among the crypto crowd out there in terms of a new sec chair, even if it isn't who comes directly from that industry, boosts regulation, anybody but gary gensler would be seen as bullish and huge impact from some of the fun

this comes after the securities and exchange commission said its chairman gary gensler, who led a regulatory will take office injanuary, is viewed to be supportive of cryptocurrencies. the bbc�*s ritika gupta has more from new york. bitcoin is heading towards the $100,000 threshold while the master number itself is more psychological than meaningful, it is striking that bitcoin is notching record after record high and the latest boost has come

sceptic and chair of the sec, gary gensler steps down as bitcoin nears the $100,000 mark.s for passengers. and the trillion dollar question. as climate talks come to an end in baku, who will foot the bill to help the world's poorest countries go green? welcome to business today, live from new york, i'm ritika gupta. it could be a lacklustre end to a busy week on wall street, with investors looking to lock in gains. in about half an hour from now, we'll have the latest figures from the purchasing managers index for november, with analysts expecting a slight bounce back

last thing, lauren marcus, gary gensler says he'll step down from the securities and exchange commission. that just was announced. pretty traditional move ahead of a new president. all right. thanks, scott. we are following breaking news out of the entertainment world ahead on nbc bay area. the big legal decision regarding actor jussie smollett's conviction. plus calling out the san francisco zoo. the push today to demand accountability. this is after a scathing report found dangerous conditions for both animals and humans. take that up a little bit higher. you should feel that, like, right back here. oh, yeah, i felt that! good, that is so much better than last week. thanks, i've been doing 'em every night while i'm watching tv. - oh, what are you watching? it's a mystery. high quality care that meets you where you are. ♪ honeybaked, how it glistens. ♪ ♪ mac and cheese, so delicious. ♪ ♪ sweet potato souffle. ♪ ♪ ham and turkey, hooray. ♪ ♪ feasting on some honeybaked all day. ♪ every bite is a celebration with the honey baked ham company. santa rosa native and actor jussie smollett for

gensler couldn't speak specifically about paul, but he told us... their name might be, don't go out and tout something and mislead the public. because it's illegal? yeah. it's also wrong. there are still questions around paul's crypto activities, but instead of answering them, he chose to send a lookalike. in doing so, he appears to be ambivalent about what happens to fans who invested based on his endorsements. and with a class—action claim filed for his failed cryptozoo project, the allegations around paul exploiting his significant platform to promote cryptocurrency continue to mount. logan paul has consistently denied any wrongdoing and blames other team members for the failure of the cryptozoo project. injune last year, bbc scotland s political editor glenn campbell fell off his bike. he first felt he had a lucky escape, but six weeks after his accident, he had a seizure. he was diagnosed with incurable brain cancer. in a new documentary, glenn shares his experience of living with a brain tumour, and explores why treatments for the condition ha

gensler insisted the tougher regulations were meant to protect investors. it is now 757.o vote today on a proposal, raising some big questions about the separation of church and state. now, it would allow elementary school teachers to include lessons based on the bible in texas classrooms. now, critics say the proposal promotes christian beliefs in public schools and violates the u.s. constitution. however, some board members say these bible start stories will enrich the overall education of young students. >> don't you want control over how your faith is taught and don't you want to tell those stories yourself and be the one who imparts the meaning of those stories? instead of having someone who you don't know talk about your own faith. >> now, republican governor greg abbott of texas shares those same views. he's a strong supporter of the proposal. elementary school teachers could begin teaching bible based lessons in classes as soon as next fall if that proposal is approved today. well, this year, more voters in several states have now banned psilocybin. it's found in

gary gensler, gary gensler over did i thought that said i mean it's like the early internet it's of of charlatans and people who make you know it's a speculative instrument right now and it doesn't seem to have any efficacy. so ultimately, it's just a speculative instrument. and where is it going to have the efficacy? i think there was big boom in it. and then sam bankman-fried kind of pulled back on that. so you see fraud and game playing. you know, it's at 98,000 now because they think trump's going to start a bitcoin reserve. but that's not that's not give underlying value to me the real focus should be on i almost like what's happening now is a cambrian explosion much the same way mobile was even more so what's happening is really massive and you see the money flowing to it. maybe too much. you know, india is now the most company in the world. they're like cisco in a way. and in the early days of the internet. and so you're going to see if i was focusing i mean, i think crypto is part of it and that's going to go up and down. it's to me, it's a casino and. again, i don't see the us

tom: what do you think that means for both sides, for the future of gary gensler and the sec, who seemhave taken a slightly more robust or combative approach to this ecosystem? does that mean the wings have been clipped or will be clipped for the sec? >> we should say the industry is hopeful that either administration would reconsider those in charge of the sec and we would be looking to find someone that would provide a clear and transparent policy framework that allows entrepreneurs to operate with respect of the law and know they are doing so and for that policy in those regulations to be applied uniformly across the industry. and we are also hoping the new administration will work in partnership with the industry and what i mean by that is that as policies are developed that the leaders of the industry are broadened and the -- what the industry can properly happen regarded and it allows for the value for the invention of bitcoin to be preserved and for end-users to continue to access the value. >> where is the catch up? there are parts of the story where there's an advantage and a

with kristin smith, who can address the future more broadly in terms of more laws being made, gary genslerstepping down from his seat in january. were you surprised by the news that he is frontrunning the ousting? >> i was not surprised for him to step down at the end of the congress before the inauguration. we are excited to see him leave. it has been a difficult couple of years for the industry. we felt like we were boxed in the corner through his regulation by enforcement approach but we are focused on trying to figure out how to move forward as an industry and reset our relationship with government. we are a excited to get new people into the key positions and work with the newly elected congress next year because we have a great opportunity to get a regulatory framework in place that will be a lasting appropriate for the industry for decades to come. caroline: talk to us about the names the sec are currently pondering. names that you don't think we'll be regulation by enforcement. >> there have been a couple of great names floating around. from the standpoint of the blockchain associa

many criticized gary gensler for doing what he can to kill that thing. >> that acknowledges donald trump liked bitcoin and wants the united states to hold bitcoin to be incredibly important. >> and to buy bitcoin, furthers the demand. >> with their best store value assets, bitcoin's prices increase, and bitcoin is a global alarm system and far calling the bluff with politicians. $850 billion, and 40%, right now we have a race between the national debt and bitcoin, bitcoin is skyrocketing the same pace the national debt is skyrocketing. neil: we go to one hundred thousand dollars a coin, we are not that far now, less than 20% to get there but it is a wild run. >> it used to be controversial but now people to get won't happen, the question is when. stuart: what do you see beyond this year to next year? >> timing is difficult but opening up to what they are going to do, bitcoin will hit $1 million in our lifetime because you have a finite supply asset. stuart: it is a tenfold jump. >> which sounds insane. in 2022, it is almost 90. we get massive moves and asymmetrical asset. the other thing

from a team cities are teamsters president o'brien, the federal deposit insurance corporation gary gensler announcing yesterday he plans to step down on inauguration day a fdic martin bloomberg will resign the day before waiting for a pick on treasury secretary president-elect reportedly closing in on kevin warsh with intention of him later taking over the federal reserve, once concurrents chair jerome powelle's term ends, trump reportedly considering appointing to lead the white house economic council would rereplaces warsh as treasury secretary vice president-elect j.d. vance saying interest interviewing to rereplaces christopher wray kash patel mike rodgers floated to run fbi comes as wray and secretary alejandro mayorkas dhs refused to testify in public hearings fbi put out a statement claiming committees will before from a classified briefing instead of public heaving, dhs adding mayorkas testified 30 times in tenure hackers would have been the first for mayorkas and wray since president-elect donald trump won his reelections promising to clean up dhs and fbi, you know, when he first

gensler has been wary of cryptocurrency the president-elect meanwhile, wants united states to be thended its ceo ted christie a bonus of 3.8 million dollars just days before the company went bankrupt. according to a regulatory filing, spirit also handed piles of cash to the carrier's coo cfo chief commercial officer and chief information officer. these payouts were intended to incentivize the execs not to jump ship as the bow dips below the water line. but they also constitute hefty rewards for the very corporate leaders who rahm spirit into a fi iceberg in the first place. now, it's not unusual for companies to give reion bonuses to the very executives who got them into trouble. but at the same time, what are you kidding? in any case, the execs have to give the money back if they leave spirit in der r r r r a year. back to you >>coming up, big holiday blockbuster movies are here, including gladiator 2, andy reece myers has the details in your next it's a massive movie weekend, including the opening of the highly anticipated gladiator. 2 andy reismeyer talks with the cast about the s

now in crypto and general you had the deregulation trade or careful regulation as opposed to gary genslering to be the first one to leave in january and i think that is showing in the markets directly but if you look at the equity market yet a bit of the trump trade belton and the last time i was on the show in new york october trudy first the dow was at 42000, toward the very end of the campaign kamala was getting more traction. in the last week you saw the poll numbers tighten, she was bleeding and a lot of holes in the swing states. i think the market gave some of that back. i was saying on the 21st a lot of it was priced in already. be careful but this is a buying opportunity because the market went down to 43000 to 41000 and you saw the great bounce this morning back to 43. most importantly it takes uncertainty out. that is a really important factor. maria: the relief that this is over. adam johnson how do you see it. >> you are regulation, give you a specific example, qualcomm has interest in buying and and theyd we won't do anything because of democrats staying in power and the lik

gary gensler is set to the part s.e.c. after tense legal battles with companies.all ahead on "bloomberg crypto." first, a snapshot of the market.