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

mr gensler was a known sceptic of the cryptocurrency, calling it "the wild west".the united states would be more friendly to cryptocurrencies when we saw that price crossing $100,000. interesting that it came many hours after mr trump's announcement that he would nominate mr atkins. i have to say at it asia is home to some of the largest number of crypto traders in the world, mainly in south korea, china and india, just to name a few.— south korea, china and india, just to name a few. many thanks for keeping _ just to name a few. many thanks for keeping across _ just to name a few. many thanks for keeping across that - just to name a few. many thanks for keeping across that story - for keeping across that story for keeping across that story for us. before we go, some other news: police in new york are searching for a gunman who shot dead a top medical insurance executive outside a hotel. the attacker lay in wait for brian thompson, who was the head of united health care. investigators say they don't know the motive of the assailant. the attack unfolded in one of th

so then why is gary gensler, when you know, he's barely in the office, gary gensler, right?adquarters of the securities and exchange commission, why does he care about this right now? so the rule of law, and he didn't dot an i or cross a t, or file paperwork, there was paperwork filing as i recall he didn't do. i mean, it's so biza. my guess is elon musk will tell him to pound sand and he'll adjudicate and take this to court with him. liz: that's what elon does, files lots of lawsuits. stuart: system of articulation they'll file a lawsuit against him and won't set and will file charges, lawsuit before a federal judge. i've got bigger fish to fry and it'll be done next year. that's where we're going and party shot and gary gensler getting shots o the of this and i saw some tweets out there about how this is the doj indict and sec and going to indict and first of all, sec doesn't indict and files civil administrative actions and don't go to jail and pay a fine. they're not going to fine him. average sec fine is barely a million. okay, let's say they go after for $10 billion. o

current share gary gensler plans to step down on generate 20, inauguration day.to switch gears and look at the u.s. real-estate industry, because it is on a mission to redefine itself in 2025, according to our next guest. abigail doolittle has a special guest joining her. take it away. abigail: thanks so much, scarlet. joining me is liz hart, president of leasing for newmark. newmark is in a multitude of businesses in the real-estate space. your real house, leasing, but also advisory, capital management. in terms of the trillion and a half worth of debt coming due in cmbs, there was speculation a year ago that it would create a complete collapse. is that still on the table? elizabeth: what we are seeing is that there was a portion of the real-estate market that will have debt issues coming up, but because it's coming at a fast pace at pre-pandemic levels, there is an amazing value ration we are seeing the same time. 24 month ago it was hard to find a way to get through this. now that there is more data points, we are able to move forward. abigail: it's interestin

in 47 days, america will no longer be embarrassed by the mockery chairman gensler has made of the sec. president trump fulfill his mandate for change, with the first pro crypto commander-in-chief the sec will work for the american people, not against him. a new day is coming and i look forward to working with president trump and his new sec chair to deliver on our america first agenda for the digital asset community. with that i turn it over to the raging cajun, our leader, steve scalise. >> a new day is coming indeed. good to see all here. we had a really good meeting with our members and members elect upstairs and you see with the 31 members coming in a lot of energy, a lot of excitement about what's ahead and what we can do to get this country back on chat -- back on track. this morning i revealed the schedule for next year and laid out the new calendar. you see in that calendar a very ambitious agenda, the ability for us to get a lot of things done for the american people that we talked about during the campaign. we are already working very closely with the trump's friend -- trans

chair gary gensler is set to depart office on january 20th. how will paul atkins for the s.e.c.ing me in a fox business exclusive is the s.e.c. commissioner hester purse. welcome, commissioner. you've been one of the few crypto advocates at the s.e.c. what's your response to the just give us the rules of the road request. >> hi, liz. it's great to be here. i agree, there has been a lot of interest in having clear crypto rules now for many years. and it's time and i'm looking forward to being part of creating throws rules. liz: how do you think that if paul atkins is finally taking the place on january 20th of gary gensler, will he absorb that? do you know anything, have you spoken to him about how sees regulation? >> well, i work for paul atkins. i know a lot about how he approaches problems. he's very good at thinking about how to use government efficiently and effectively to solve problems but not to step in the place of the market where the market can do its own thing so he's got the balance right and i think that's why he's -- he'll be very good at tackling this problem. liz

of the contributive factors is that paul atkins was appointed to this position at the sec and gary genslerbe gone really think this is a huge move. maria: i totally agree, gentlemen it's great to talk to you. steve moore and andy puzder, walmart is rolling back dei programs pulling controversial items from the inventory will target his order to face the music over the pride backlash former target vice (♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com maria: welcome back retailers rolling back eei. walmart the largest private employer cutting back on the diversity policies forget the company removing controversial items from the website including items marketed for transgender children, retail giant target losing his bid this week to shut down a shareholder la

of the contributive factors is that paul atkins was appointed to this position at the sec and gary gensler will be gone really think this is a huge move. maria: i totally agree, gentlemen it's great to talk to you. steve moore and andy puzder, walmart is rolling back dei programs pulling controversial items from the inventory will target his order to face the music over the pride backlash former target vice jorge has always put the ones he loves first. but when it comes to caring for his teeth he's let his own maintenance take a back seat. well maybe it's time to shift gears on that. aspen dental has complete, affordable care all under one roof. plus $29 exams and x-rays for new patients without insurance and 20% off treatment plans for everyone. making it easier to get started with quality care. it's one more way aspen dental is in your corner. maria: welcome back retailers rolling back eei. walmart the largest private employer cutting back on the diversity policies forget the company removing controversial items from the website including items marketed for transgender children, retail g

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impose under gary gensler. that is something atkins has singled out in the past that we can look for him to try to target again in the future. caroline: mike sheppard with all the context. we thank you. for more on broader implications for the crypto market, catherine darling is with us, a chief compliance officer. foremost, more than $100,000. for people who have been in crypto for a long time, that must feel extremely vindicating. catherine: thanks so much for having me this morning. it was fun to watch it go over six digits last evening and see it continue to hold today. caroline: when you think of the fungicide, but also the realities of what paul could mean, dig into the announcement and what you made of it. katherine: first off, leading up to this announcement, all of the names that were floated were positive. we have that. what was going to be better. there was really no wrong answer. in this choice, it is a great choice, quite simply. you could hit the ground running. he has been a commissioner before.

of the contributive factors is that paul atkins was appointed to this position at the sec and gary gensler gone really think this is a huge move. maria: i totally agree, gentlemen it's great to talk to you. steve moore and andy puzder, walmart is rolling back dei programs pulling controversial items from the inventory will target his order to face the music over the pride backlash former target vice your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. it really works. it's hard to say who'll be more excited on the day after christmas. the guy who got a brand new truck from mom and dad. or the guy who got all the weathertech protection for his truck. like laser measured floorliners... the under seat storage system... no drill mud flaps... impact liner with shock absorbing rings... and top it off with the alloy cover. find these american made gifts or get a gift card instantly at wt.com. (♪

of the contributive factors is that paul atkins was appointed to this position at the sec and gary gensler will be gone really think this is a huge move. maria: i totally agree, gentlemen it's great to talk to you. steve moore and andy puzder, walmart is rolling back dei programs pulling controversial items from the inventory will target his order to face the music over the pride backlash former target vice chairman gerald storch is here with reaction. stay with us. after careful review of medical guidance and research on pain relief, my recommendation is simple: every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪ growing your business is easy once you know the moves. with godaddy websites plus marketing, you can quickly create a website, and ai will customize it for you. get your business out there and get more customers in here. no sweat... for you anyway. create a beautiful website in minutes with godaddy. maria: welcome back retailers rolling back eei. walmart the largest private employer cuttin

david: gary gensler has been the number one villain of the crypto industry for the last few years. kind of hard to overstate the amount of animosity that the industry feels toward him, and that's because he's sued crypto companies, argued that they're violating securities rules, and essentially put the industry in a position where it could be driven offshore. the expectation is that paul atkins will significantly deviate from that approach. he is somebody who has worked closely with the industry in the private sector, who served on the advisory board of a crypto industry alliance, and so crypto companies and founders are very enthusiastic right now. they're expecting him to kind of abandon the gensler approach and really take a much kind of lighter touch, approach to the crypto industry. geoff: and what more do we know about donald trump's change of heart on crypto over the last year or two? david: yeah, i mean this is something that i think people sometimes look past, but, you know, when he was president during his first term, trump said things like bitcoin's a scam, you know, it'

chair than gary gensler -- >> i'm not sure fairshake would exist. >> really?ly. >> in response, an s.e.c. spokesperson said, any amount spent by the crypto industry on legal defense or influence peddling pales in comparison to the savings lost to frauds and failures. it was definitely a war on crypto. >> john reed stark in charge of enforcement at the s.e.c. says he owns no cryptocurrency and has never worked for the industry. like garlinghouse, he believes voters have given president-elect trump a mandate to govern. >> as far as these election results are concerned, the clear mandate is the s.e.c. needs to lay off crypto. and that's exactly what's going to happen. >> but that doesn't mean this former s.e.c. official thinks the agency's actions were wrong. >> crypto is a scourge. it's not something that you want in your society. it has no utility. it's just pure speculation. remember, there's no balance sheet to crypto. there's no financial statements. >> you're talking about s.e.c. filings, there's no public disclosure mandate. >> exactly. nothing. but also t

crypto component paul kins wirral place gary gensler. the overall -- crypto proponent pol atkins oral place gary gendler. here's of american eagle plunging this morning 16.5% premarket. it issued a week holiday guidance and cut its holiday sales outlook. american eagle also reported sales which dropped about 1% from a year earlier. the company ceo said there was strong back-to-school demand but otherwise choppiness between those key periods. that is your brief. jonathan: retail is brutal right now. if you miss you get punished big-time. lisa: there is a question about whether you are cool, whether you can manage through an influencer time of product drops in different types of social media influence and if you cannot the hammer drops. jonathan: dollar general reporting later this hour. we'll hear from kroger later this morning. up next, the french government collapses. >> marine le pen has decided it is better to precipitate a crisis than have a weak government. she probably thinks accelerating the political agenda is what is best for he

it will be less than what gary gensler gave you which was enforcement by regulation. we will see one of the crypto advisors of donald trump sitting in a room with paul atkins and others. and they will try to figure out a regulatory framework which takes it out of the enforcement which the crypto industry hated and a lot of people said was unfair, something more innovative and that's why you see the run up. rallies reverse at times, there's little irrational exuberance. stuart: a little money side into this. when it comes to donald trump, he wasn't keen on this in the beginning, looking at it he reassessed it and became a big fan but to hone in on what you said it doesn't mean we go from a lot of regulation and watching what they are doing to none of that. charles: the republican commissioner believes in a degree of regulation, paul atkins is a long time securities lawyer who was on the commission under george w. bush. he believes in the basics of the securities law as written. not that we should do what gary gensler did with environmental disclosures, he believes in d

second, gary gensler is stepping down in 2025 and could be replaced by l atkins.ensler was seen as a illain. and finally, you will hear institutional adoption a lot. many bulls have said traditional firms in the market will support the price into 2025. the bullish calls we heard aren't without risks. coinshares told cnbc bitcoin could touch $150,000 in 2025, there is also the chance that bitcoin could fall to $80,000 if the promises around pro-crypto policies don't pan out. arjun kharpal, cnbc. >> you got to love it. experts think it is going up. what about the ones short of it? that's dangerous. the leverage plays on crypto. it's volatile enough as it is. >>> anyway. coming up on the show, chinese president xi jinping says the country is on track to hit its 5% growth target for 2024. we'll bring you more next. z's bakery is looking to add a pizza oven, arissa's hair salon wants to expand their space, and steve's t-shirt shop wants to bring on more help. with the comcast business 5-year price lock guarantee, they can think more about possibilities for their busine

trump tapped former sec commissioner paul atkins to replace gensler.n. and finally, the industry wants a rollback on sec guidance that was issued in 2022 requiring public companies to present crypto assets held on behalf of users as a liability. those are the three big things, and they could get it with their crypto president, ash. ashley: yeah, they could, indeed. madison, thank you very much. >>> coming up, many americans will end the year with not so merry, high-interest credit card debt. we're going to get into that issue. and the mega millions jackpot could be the fifth largest ever. the top prize now worth more than $1 billion. whoo. we'll is have the very latest next. ♪ ♪ confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can invest with confidence. visit h

signaled two weeks ago, this is the gary gensler, joe biden s.e.c. -- gary gensler will step down januaryay of the inauguration for president-elect trump, they said they wouldn't approve the solano etfs under the current administration. how optimistic are you that the trump administration will? >> i'll put it in the category of i don't really know what's going to happen in the next year with the etf applications. >>> i do believe that there's a greater chance that some of these etfs will get approved in 2025 under a new administration. but there's also a lot of things they have to look at. and under a new chair, under a new commission, we could possibly see at least one or two more single token etfs going live in 2025. i do believe that we'll get there. i don't know which ones we'll get. but it certainly will be more favorable but to say that we get all of them is probably not going to be the case but we are cautiously optimistic. liz: what do you think would happen to the price of bitcoin if the president-elect were to do what he said he might do and that is establish a strategic bitcoin

because one could argue that gary gensler and elizabeth warren weren't even open to it. one could argue that they said, we are not open for business. we think this is criminal. so there is a space between being hyper pro bitcoin and the republican bitcoin bill, and where elizabeth warren is. is there a lane for smart regulation that you think could be coming? >> from's pick for the sec, paul atkins, he signaled that he's definitely going to change course from gary gensler and what he said is that actually i thought this was pretty crazy, the failure of ftx, sam bankman- fried's giant fraud, he said that it wouldn't have happened had regulations in the u.s. been looser. that by having tough regulations here, enforcing already existing securities laws that drove crypto operators offshore, where like anything went, and i think that, if anything, the sec let the last bubble get out of hand. saw tons of fraud happening in plain sight and didn't do anything until prices started going back down. >> i'll just say that there is a finite supply of this. there's a finite supply of

on the campaign trail he said he would fire gensler. now we have adkins, supportive of it. sachs, like him, a supporter financially of trump, supporter of crypto, really helping to bring in not just the crypto industry to donate, but also younger men in general. abigail: absolutely -- scarlet: absolutely, that is part of what we saw pushing him into electoral victory. from what i understand, this is not a paid full-time position where he has to publicly disclose and divest holdings, but more of a special or -- special advisory role. how do they then prevent potential conflicts of interest? >> as you mentioned, what he has been appointed to, this presidential council of advisors, that's known as a federal advisory committee essentially set up so that people with private sector expertise can advise the government without divesting assets. so, this is something where, and we have reached out, where he will not set -- step down from craft. there will be speculation as to how to maintain the, you know, the separation. to make sure that there aren't any instances of him having th

gensler's out, crypto's in. look what's happening at the ftc.een a thorn in the side of big business since she was appointed by mr. biden, she is out. she's going to be replaced over at ftc. so look to see mergers suddenly start to get approved -- start to happen and get approved. it's a complete regime shift in washington and, stuart, the market loves it, small business loves it, and i know that, certainly, you and i like it. stuart: oh, yes. lauren: do you know what else is in? stuart: what have you got? >> it's okay to the make money --? >> yeah, thank you. lauren: and it's okay to hire someone based on merit and if if they deserve it. >> not because of the way they look or what their sex is, the color of their skin. no, based upon their merit. of it's okay to go back to just the basics. if you're good and you get the job done, you deserve the job. stuart: all right. eight minutes into the trading session as we speak, and the dow has turned positive. it's up 30 points. small losses now for the s&p and the nasdaq. the future ambassador to isra

securities and exchange commission, gary gensler, yesterday, and he captioned it, oh, gary, how could you do this to me? the letter states the commission had pressured musk to agree to a settlement and a fine within 48 hours, or else musk would face charges for certain purchases, sales and disclosures of twitter shares. the commission has been investigating whether musk committed fraud in 2022. that's when he sold some of his tesla shares to support the buyout of twitter. markets were pretty flat across the major indexes today. the dow fell for a seventh day by 86 points, making it the longest losing streak since 2020. the nasdaq, up 23 and the s&p dropped by less than a point. okay, a lot of holiday chree the volvo holiday sales event. perfect for wherever your little passengers want to go. i want a hot chocolate! yeah! i want to go sledding! mom, play your winter playlist! yeah, play it! turn this up! (♪♪) i love the holidays. the volvo xc60 and xc90. your first step to a safe and happy holiday season. sign & drive with zero down, zero due at signing, and zero first payment on selec

role as the nation's top financial market regulator, and, if confirmed, atkins would succeed gary genslertal currency community for his many efforts to crack down on the $3.5 trillion crypto market. trump's position on crypto mirrors his larger pro—deregulation stance during his first time in office. trump has promised an easier route for bitcoin and its peers, and the market has soared since his election victory on november the 5th. atkins served as sec commissioner from 2002 to 2008 under then president george w bush. along with adopting a pro crypto stance, atkins was critical of some of the reforms that emerged from the global financial crisis in 2008. specifically, he criticised the dodd—frank legislation as too stringent on the banking industry. film award season is under way and wicked has been named as the best film. the film based on the musical�*s award from the new york organisation puts it in the running for an oscar nomination and a nod at the golden globes.— nomination and a nod at the golden globes. amanage the other awards, _ golden globes. amanage the other awards, best _

gary gensler is the chair of the security exchange commission, the person in charge of regulating theding the stock market and now crypto. what is the scale of this? how much money are people losing because of these frauds? individuals have lost collectively tens of billions of dollars. many of these projects are not complying with the law. even the good—faith actors in this field are not necessarily giving you, the investing public, the disclosure. and the influencers arejust...making it worse. and why? because folks are vulnerable to thinking that, well, they are so successful at life, they are so successful, they must know something, but they are really misleading their followers. kim kardashian lands in hot water with the sec for promoting a cryptocurrency asset on instagram. they are supposed to tell you how much they got paid, whether they own the token, whether they know anything. and we have brought a number of cases in these areas over the years. these celebrities were fined between $50,000 and $400,000 by the sec for promoting a token to their followers without disclosing th

intel first fired its ceo, pat gensler, over the weekend. sources tell cnbc the board had lost faith in his leadership. well, it is the tatalk of the silicon valley today. a tech startup ceo admitting he's looking for employees willing to work 84 hours a week, not 40. not 60, 84 a week. he says he's getting criticism, but also some job applications. let's bring in our business and tech reporter scott budman, who spoke with the ceo one on one today. this brings a smile to my face, actually. scott, you love to know that people are working hard in silicon valley. raj. yeah, this is raj. annabelle to some extent is silicon valley tech startup culture working hard for long hours, but 84 hours a week, that's 12 hours a day, seven days a week. and that's why his startup and the debate over work life balance is trending. tech startups here are famous for their grind it out culture. techies working hard, collecting stock options and banking on a giant payoff. but now how hard they work is in the spotlight. it's a rocket launch in some ways. daksh gup

securities and exchange commission, the top securities regulator in the us, currently at the scene by gary gensleri think the cryptocurrency industry sees an ally come into the scc. david sacks, who you noted, is a former paypal executive, now a former paypal executive, now a venture capitalist, also hosts a popular podcast in technology and a lot of people and silicon valley listen to it and silicon valley listen to it and he was one of the first and one of the loudest supporters in the tech industry as donald trump was mounting his presidential campaign this go around, taking over as ai and cryptocurrency sao, is a new position and i think what the signals with david sacks coming is we can expect this administration to work with congress to pass legislation that the ai industry and the cryptocurrency industry, executives and both were like. —— tsar. executives and both were like. -- tsar. , ., , -- tsar. interesting to see those deeper _ -- tsar. interesting to see those deeper ties - -- tsar. interesting to see| those deeper ties between donald trump and those members of silicon valley. always

gary gensler said he would step down.l atkins being considered according to reports by bloomberg. lots of tailwinds for the space. now, we have the establishment take over bitcoin as well -- take over of bitcoin as well. caroline: at one point, tesla was doing the same thing. what is interesting is we did hear from cathie wood praising a new regime under the administration. she is long digital asset classes. but where else does she see positivity? >> in crypto and fintech, m&a, all of the things clamped down on during this administration. cftc band a lot of acquisitions in the tech space could she sees softer regulations on the space. the u.s. government is potentially being a whale. there is a bill that could require them to buy bitcoin. it could create risks like volatility. gold might sink and bitcoin might rise. there are a lot of things happening in the space. interesting because now a lot of companies own more bitcoin than others. caroline: crypto regulation is looming over lawmakers in washington. the future of tik

but i am also counting down because it's the day that sec chairman gary gensler will finally meet the american people's demands and resign. chairman gensler's tenure at the sec has been marred by regulatory hypocrisy, crippling american competitiveness. his approach to our capital marks was lawless, self-interested and and objectively destructive. he's been an incompetent cop on the beat pushing american firm into the hands of the -- firms into the hands of the chinese communist party and will undoubtedly go down as the worst sec chair in the history of this country. under his leadership, the sec abandoned its core mission to to protect the opportunities of every american who wants to participate in the greatest capital markets in the world. he wasted a large part of the sec's resources to wage war on the crypto industry, a strategy that has proven unsuccessful for him as the sec continues to lose again and again in the courts. corruption under gary gensler ran so deep that a federal judge took the unprecedented step of imposing sanctions on the sec for misrepresenting key facts in th

. >> we have seen gary gensler being extraordinarily conservative and critical -- critical of crypto.president biden is talking about right now is not crypto. he is out there talking about his record and defending what he has done but warning that donald trump tries to undo things like the inflation reduction act and the chips act. it will cause a massive redistribution of wealth where it will be a huge win for things like big pharma, places like china. do people understand what joe biden is warning us of? >> i am not sure. it is a good question and it will be one of those things where hypotheticals turn into reality very quickly. and people will understand what a rollback of the chips act or the i.r.a. is going to be. they are trying to at least try to make some and roads. >> she was not anti-crypto. but the crypto and the joe rogan bro universe are completely intertwined. and donald trump at that vote locked up. stomach when we return. a very dark warning from the nypd until chief heard why she says the murder of brian thompson resembles domestic terrorism. domestic terrorism. deald

announced plans to nominate paul atkins for the securities and exchange commission replacing gary gensler to see what happens over the next few months. dom. >> dan, the use case for bitcoin generally speaking with cryptocurrency evolves around the idea of decentralized finance. we know president-elect donald trump has made a lot of waves and commentary in regards with his relationship with the fed and fed chair jay powell. there is a way to reconcile and how exactly does somebody like eric trump talk about the idea this uld be a different type of banking or financial structure? >> this is fascinating, dom. you hit the nexus exactly. what is the purpose of the strategic bitcoin reserve in the environment where bitcoin is meant to be decentralized. doesn't that defy the idea why this exists in the first place? nonetheless, it will be interesting to hear from key players like elon musk and david sachs who is the white house czar. they will take the roles in reshaping the environment as well. it will be those people that are really key and influencing trump to determine exactly what happens n

we're going from a crypto dud in gensler and now to a crypto king.edicted that crypto would hit 100,000 this year and i text him saying where are we going next 120,000 and then he said it'll tank next year. interesting take and options market supports that stance in terms of going to 120. next year when rubber hits the road on what kind of crypto policies we'll get, you'll get volatility. crypto was always volatile and how high before it tanks? stuart: yeah. last time you were on didn't you admit in the middle of the show you didn't like crypto but in the middle of the show, you bought some? >> i've always had a small position but i turned and changed my stance on the fact i didn't believe trump was going to make this a part of his administration, but based on his actions, actions speak louder than words and making it a policy priority. i'm very optimistic about broader adoption and access but the volatility won't change. stuart: i can see that. outside of the crypto world and back to the stock world, i think this is the trump rally. it's a big one.

about a lot of these positions, i mentioned paul atkins paul many happy nominated to chair sec movies gensler rules throne at business, positive as head of financial services committee believe they will find bills that can win support not just from house democrats, but also from the senator tim scott will chair senate banking committee, reaction. >>i think what american people are looking for whether then wall street or main street, is clarity. there are so many regulations, that basically overlap each other, they are not sure where in should turn having, one set of reports one set regulations clarity and frankly fewer regulations the important ones keep those but everything else throw out window i think very well, i can't imagine pushback other than from elizabeth warrens of the world, the big government exerting their power but this is mandate the american people have given to congress to president trump so i think actually going to be a very welcome development. maria: yeah all of this very good for crypto, cheryl going to zero in who is in charge of oversight give at the developers clarit

uncomfortable for him she's gone after amazon, meta and we already talked with the grocery store, gary genslerf the sec all the sudden crypto has a place under the sun it's wonderful, animal spirits are real because getting rid of these people in washington israel and that's good for stocks. >> a lot of optimism about paul atkins coming in with the securities and exchange commission i'm wondering if he will open up the doors to crypto legislation is going to be big. fbi director christopher wray preparing to resign and pack up his bags on or before inauguration day because he does not want to be fired by president-elect trump according to the washington times, he knows what's coming as a new watchdog of the department of justice secretly obtain phone records from two main members of congress in 43 staffers including trump's pick to lead the fbi, kash patel during trump's first term i reported all about this in 2017 how they were spying on the trump campaign including kash patel because kash patel and devin nunes unlock the truth about russia and there was no russia collusion they spied on him

remember, with gary gensler saying the sec chair and does it on everything, climate does closures andd 34 access and investors care about dei and i want dei at nasdaq. what's going to happen is paul atkinses runs the sec under trump. people throughout ministrative agencies have to go by what congressman dated those to do. >> if you can't you don't need them and knocking the staff out or make them come to work and how about that? ving money too. knocking theout all together. the stock market gives up the ge gauges of the trump zeitgeist. i worry. >> it's my worry too because there's very little doubt in my mind and massive runup in stock prices as you've seen was laely driven by the tax cut and jobs act of 2017. so ithere's any questionhat those are going to go away, it stands to reason that administration coming in and never have as ch power in the first six months to a year and this is the time 20 do it. fellas, i have to go. on stage. i'm sorry. spending too much time on drones. can't help it. stop score. larry: now i'm joined by alex mar low, editor in chief at the news channel. tr

if confirmed they would exceed gary gensler a harsh critic of digital currency can't be done on the threeft capital market david tawil predicted back in january bitcoin would hit 100,000 by the end of this year and on this program he predicts at a late charge of 50000 by the end of 2025, bitcoin is not better than 140% you to get a 51% since election day on november 5, let's take a look at futures, indication of a lower opening for the broader averages stocks under selling pressure, fractional moves down gal industrial got 18, the net effect on 24 and s&p lower by three points, after stock soared to recognize driven by a rally intact, the dow industrials up 308-point did nasdaq of trigger 54 points, one a third% on the nasdaq, the s&p higher by 36, markets are green across-the-board issue take a look at stocks in 2024 with the dow up 20% and s&p of 20% and that as of june s&p of 31% this year joining the mahoney asset management ken mahoney, great to see you thank you for being here, your outlook for the end of the year and into 2025 is bitcoin an indicator of what is to come? >> that sho

the letter addressed to gary gensler did not elaborate what the s.e.c.ng to take action against musk related to his inn vestmen to twitter before he bought the platform in 2022. frank. >>> silvana, thank you very much. we turn attention now to the ipo market and watching shares of servicetitan after the monster nasdaq debut yesterday. shares surging 40% yesterday. now in the pre-market, pretty much unchanged. the company saw the shares had close $101. servicetitan debut ending the lackluster year for the ipo market. bob pisani notes it is well below average three years running. so far, 140 offerings raised $28.8 billion. joining me now is our guest with stake in many. santos, good morning. great to you have here. >> good morning, frank. >> can we read into servicetitan to get insight into 2025? >> yes. two or three significant significant signals. it was a great day in general. the ipo marked needed to be thawed. this set the process in motion. this is the beginning of many more to come. this is the best out of the gate. there are so many waiting in the

first crypto president and paul atkins as part of the bigger story because he would replace gary genslerules and regulations around digital assets and also a commentary going on on wall street whether or not paul atkins is going to get behind and support the idea of emerging with the cftc regulators wanting in on a.i. and a lack of clarity, how important is paul atkins at the fcc along with david sachs in the enter david sachs as a new a.i. czar. >> extremely important i would say under the gendler era at the fcc there has not been clear regulation, that has been the problem how can you operate in industry when you don't know the rules you can disagree with the rules but if you know the rules you know how to operate and when you don't know the rules when ud banked and you find that you broke the rules because there's an enforcement action against you versus knowing what the rules are that's what leads in industry to flee a country that's what we seen in the united states and i think atkins represents a complete reversal in a way that could not be more bullish for this country. maria: tru

. >> hopes gary gensler would embrace the asset as chair of the securities and exchange commission.current sec commissioner also looking forward to change. >> it'sline extremely frustrating being inside the agency and seeing opportunities that we had to provide guidance, to provide clarity and, instead, our approach has been almost entirely driven by bringing lawsuit after lawsuit, which is really expensive way for us to yelling great and not effective way. >> president-elect trump bitcoin reserve something insiders applaud. >> what position we have given the u.s. already has significant bitcoin holdings i think exactly the right thing at exactly the right time. >> cynthia lummis supports vision 5% of the world's gold so it should hold 5% of the world's bitcoin. critics worry the reserve would not serve a national security purpose volatile losing taxpayer dollars. loomis hopes to make the asset easy to earn. >> we want to make sure bitcoin is available in individual wallets to be held by individual americans that cannot be touched by government surveillance. so, this is a freedom as

a bull run on digital coins and trump administration promising a lighter regulatory hand and gary genslerrance and rational. liz: i'm now shorting micro-strategy and there's a huge split between rational movements and more. >> ting kind of a computer company that's buying bitcoin. i don't get that. by the way, there's a lot of etfs feeding off of that micro-strategies bet and journal did a really nice story on it. i'd be real careful for the technical factors and it's getting way out of hand and suppose the sec says we're going to bring the case. does it go down another $2? liz: donald trump has said incredibly friendly with this case. >> listen, if you look at who he's talking to for sec chair it is paul atkinses. paul atkinses right now from what we keep hearing down in mar-a-lago and talking to trump and he's a long time securities lawyer and commissioner and he understands the disclosure mandates and you can't let u.s. federal court ruling stand that says retail holders. it was a stupid ruling and the judge in the case said obviously there's nothing about securities law. you can't all

he will take over for gary gensler.ong time that all of the regulation around crypto has forced developers to go to europe and asia and do real big business and it's leaving the u.s. alone in not having that kind of expertise so paul atkins coming into the securities and exchange commission is going to do a lot for crypto legislation. people need clarity. we've got all of these different agencies running things. they want oversight over crypto. you've got the securities and exchange commission, the cftc. that's where also doge comes in because doge is looking to cut costs and one idea is to merge the cftc which is the commode commodities futures and trading decision with the s.e.c., the securities and exchange commission. pepeople want to know if paul atkins will get behind the idea. crypto is one of the issues and the ceos see people like david saks getting a white house role, running crypto and a.i. they want a voice at the table. we're talking about that this morning for sure. we are leading off the program with utah

commissioner caroline crenshaw who voted in favor of gary gensler agenda in the first term and has been-crypto. gop leaders speaking out about gorgordon eto. they are calling in a push by democrats and an attempt to hinder president trump's agenda. well, get this, new yorkers could receive inflation refund checks of up to $500 from the state next year. part of a plan announced monday by governor kathy hochul. it would be a one time payment of $300 to individuals who earn less than 150,000. $500 for families earning less than 300,000. hochul says, quote, it's simple. the cost of living is too high. new yorkers deserve a break. all right. well, the house oversight committee is going to be holding a hearing today on the united states postal service's financial struggles and the necessity to cut costs or remain on a path to either a government bailout or the end of this great organization as we know it. maria, we talked about this before. postmaster general is going to testify this morning on the challenges as families and small businesses around the country experience let's be honest here

obviously gary gensler is not a pro crypto guy. could make the argument that he wasn't just being conservative. he was standing in the way of possibly a business that should be strong and growing. but here we are in a crypto bonanza. trump has his own crypto exchange. his son, eric, saying my father is going to be the most crypto friendly president ever even though it has only existed for less than 20 years. so the crypto people are thrilled. the guy who wrote "too big to fail", a guy that understands the big short, we see things like that girl and her coin. you are laughing. and we are discussing it, we are talking about it. but is this the moment that we are going to say, this was like the stripper in the big short saying, should i buy a fourth house to flip? >> i worry. >> are you thinking about the stripper? >> no, i worry. i worry because i see all of these signs. and i say to myself, this just doesn't make sense. it doesn't seem like it should make sense. by the way, i didn't think it necessarily made sense and we were saying

and tesla at the time to complete the twitter take over, elon musk reacting aiming his post at gary genslerace holding back tears and musk attorneys letter, they're asking him to agree to a fine or faced charges on numerous counts regarding the purchase sale or disclosure of twitter shares at the time. suspected ceo killer luigi mangione was recognized in san francisco. the fbi been contacted days before the high-profile arrest "the san francisco chronicle" is citing two sources familiar with the investigation and this comes as he was not united healthcare customer that's according to the parent company united health group and nypd detective says 26 rolled may have targeted the company due to the size despite luigi mangione not be the customer, he does make mention it the fifth-largest corporation in america. were also learning his mother spent months searching for him after someone close to the family told the wall street journal he went off the grid six months to a year ago. the 26-year-old is accused of killing brian thompson in a shooting earlier this month, he's awaiting trial in the p

he nominated paul atkins to succeed gary gensler as the next chairman of the s.e.c.reet seems to be his nomination is likely to bring democrats to the table for crypto legislation and market structure because they want to see more clarity in terms of who is overseeing the crypto industry, right? right now you've got confusion between the s.e.c., the cftc and others who want a piece of the oversight. >> yeah, there certainly has been a turf war between the s.e.c. and cftc over recent years. there's been confusing and conflicting statements from the commissioners, the chairs, the officials at the s.e.c. and the cftc saying cryptocurrencies are regregulated under the s.e.c.'s jurisdiction, cftc is saying the same thing. this creates a lot of risk for businesses who want to be compliant, follow the law and do the right thing. if you don't know who your regulator is, how do you do that? this is a huge part of what's driven the industry out of the united states. i worked closely with quintes and paul atkins over a number of years. paul atkins is one of our advisory board m

the chair, gary gensler, was a villain in the crypto industry for a long time.any in the industry accused him by using enforcement to regulate rather than coming up with thoughtful regulation. of course, he is stepping down. there will be a new chair who many believe will be friendlier to crypto companies. what will happen? will there be a reserve? will there be regulation in the industry that actually allows innovation and at the same time, makes the industry safer for participants. that's going to be the big question. or will it continue to be an unregulated sector? there's a lot of questions. all of this that we have seen, and the calls around it are predicating on these ideas of a pro crypto administration. which has been lacking the last few years. >> this is one of the topics in your last episode of beyond the valley, looking at the predictions for 2025. cryptocurrency is part of the discussion. check out that episode. thank you. >>> meanwhile, i want to take you to the weather, he'll be having a stern, telling the company to get brewing. the shortages of

there is no proof of that being the case, but he is certainly somebody who, being swept up by gary gensler's be looking for an out here under a more lenient, shall we say, securities and exchange commission under new leadership under president-elect trump. >> before we go, and the category of you get what you get and you don't get upset, pennsylvania, donald trump is now saying he is going to block japan's nippon steel from taking over u.s. steel. and you have steelworkers in the area so upset. i mean, u.s. steel in pittsburgh is like the liberty bell to pennsylvania. and sure, lots of people, i asked kamala harris about this, would love for u.s. steel to stay an american company. but there are no other bidders. and if this deal does not go through, they can leave pittsburgh. they can shut down entirely. >> yeah, and i don't think the biden administration was too thrilled about this deal, either. there is a certain antipathy towards this type of foreign acquisition of what used to be one of the premier companies in the united states. so there is a risk, obviously, that they could go out of b