today jack dorsey's square halted purchases of bitcoins altogether.oining us is ed ludlow and joe weisenthal. we can't blame everything on elon musk, but when you look closely, most of these moves seem to have something to do with elon musk. joe: bitcoin itself had been below its highs from february. it had been going sideways for a while. some of the movement with other coins. when tesla bought bitcoin earlier this year, that was seen as such a key signal, enthusiasm, the most cutting edge company on the world putting its weighton it. -- weight on it. to see the angst of energy, because regulators care about that stuff, it is a blow to bitcoin. emily: tesla down big time for the week. it had to be pretty transparent about how it is benefiting and not benefiting from its bitcoin investments, since it is still holding bitcoin, just not accepting bitcoin as a form of payment. ed: tesla shares down the most one week off since february. it is about communication. in the first quarter of this year, 1/5 of their pretax profit was the gains they made on bitc

just take exactly the same idea and say it's now a jack dorsey tweet, but the block chain is the basis of the trust. and you can see not only that there's only one version minted, but you know uniquely which version, which one you're holding. so, you're correct. i can take that baseball card from topps, i can get a chinese factory to print another million copies of that baseball card, but you and i know they're fake. they're pirated. >> it's not exactly the same technology. >> with the copyrighted baseball card, it can be really, really hard to figure out which is the real one and which is the fake one. in a digital world, we can create digital proof of which is the authentic real one and which one is a fake. and that's the difference. >> did we need the block chain in the sense that -- again i'm going to use the sotheby's or christie's example. presumably they're giving me something that says this used to bond to matthew le merle but he sold it to scott mcgrew. >> yes. >> i don't think anyone doubted or questioned a stamped certificate from christie's or whatnot saying no, no, no, i o

brian kelly, it is interesting because elon musk raising the climate concern and jack dorsey seems toying overall, even if you have those concerns, bit coin improves everything. what do you think? it is like a war of words here >> yeah. so, a battle of the billionaires in bitcoin a triple b so aliteration aside, it continually improves bitcoin uses a lot of electricity and a lot of studies shows that is renewable and therefore bitcoin is like a subsidy for green energy but let's say it was completely mind with coal dirty energy, the history of tech shows you it could improve and get better so that looks like an investment this thing is going to get better if that is the only problem you with v with bitcoin is some province in china has a lot of coal and they mine bitcoin and if that changes elon will come back and be buddies with jack again. >> this climate issue or the fact that bitcoin using -- that has been around for a while. so is it the bitcoin miners, is it 70% of the energy they use is renewable or something like that a lot of the energy they use is energy that other wise woul

i think there's $2 billion in revenue from crypto activity specifically bitcoin and jack dorsey saidd up in this tech selloff right now. >> todd and michael, thank you head to trading nation for more analysis ty >> thank you. >>> amid the covid crisis you expect medical companies stocks to soar but for the medical device maker becton dickinson everything else is lagging the ceo will join us to explain. we'll be right back. >>> and now the latest from trading nation.cnbc.com and a word from our sponsor. (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better

asks them to report crypto revenue under way right now ceo jack dorsey talking about crypto driving morengagement of cash up which makes up half of square's revenue the seller business, the other half, is also showing signs of recovery guys, a third ecosystem is being talked about, the acquisition of jay z's music streaming service, jay z joined the square board, and dorsey is getting a ton of questions how music streaming fits into the broader picture for square, we'll bring more highlights but ton of questions melissa back to you. >> just so we can understand the crypto part of it that's where analysts miss the mark in terms of estimates this helped i would presume by just the sheer run up in bitcoin because the revenue number sounds like the total asset of bitcoin that were traded on the app. >> that's exactly right. similar to what you saw on coinbase and other places in the quarter, huge bull market for bitcoin, a lot of trading going on, therefore the number for trading revenue for square was much higher than people expected $3.5 billion out of $5 billion total. but that gross prof

fact checking you did it for jack dorsey.anut butter and jiffy is the delicious snack of popcorn. >> skippy is the best. hate to say but true. >> i love it all spread with raspberry jelly. thank you for watching "the faulkner focus". right after this commercial break "outnumbered." >> no mother, no father, no nothing. this is one of our workers wife's right here taking care of this tiny one. no one with these children. >> harris: a new video from a texas farmer after she discovered five migrant children abandoned on her ranch. heartbreaking but video of those unaccompanied minors ranging from 11

and founder of twitter is jack dorsey, he, too, was part of that house hearing at the end of march and talked about how twitter handles the -- how they handle content on their site. >> we believe in free expression. we believe in free debate and conversation to find the truth. at the same time we must balance that with our desire for our service not to be used to sew confusion, division, or destruction. this makes the freedom to moderate content critical to us. our process to moderate content is designed to constantly evolve. we observe what's happening on our service, we work to understand the ramifications and use that understanding to strengthen our operations. we push ourselves to improve based on the best information we have. much of what we are likely to discuss today are entirely new situations the world has never experienced before, and in some unique cases involve elected officials. we believe the best way to face a big new challenge is to narrow the problem to have the greatest impact. disinformation is a broad concept. we needed to focus our approach where we saw the greates

ceo's jack dorsey sold his first ever tweet for 2.9.ny expectations and will not be disappointed, whatever happens. >> charlie! >> reporter: the boy's father a, howard, hopes the old video can help his sons now 15, in the future. >> it would be great if somebody thinks it's fantastic and they want to do whatever and it makes it easier for us and it means that harry goes to university and has a nice place to stay and doesn't have to have a bar job. >> no splurging on fast cars and video games? probably not. >> education takes priority. >> reporter: and while charlie found biting his brother funny. >> that really hurts charlie and it's stillng. >> rep>> reporter: it's the fam that could be the last ones laughing all the way to the bank. ian lee inenan again s the video to an anonymous bird for $761,000. wonder what they will do with all that, g that's the overnight news for this monday. for some of you the news continues for others check back later for cbs this morning and follow us online any time at cbs nene >>> it's monday, may 24th, 2

prominent names and text circles, courtesy activist edward snowden and twitch, your friends or jack dorsey appraised the stream of your genuine telephone are you long treated you signal last year, the european commission also recommends using signal to staff members are producing experts appreciate signal to getting the message or some other apps do, encrypt their transmission. but signal is trying to build a business off of essentially guaranteeing that the communications stream you and other signal users are completely private. they don't hold what we call the keys, the encryption keys to those messages. whether you're concerned about other individuals, hackers or the government signal probably checks all those boxes. signal has declared an offensive on facebook's or pig date. see, for example, with ads like this one, they were supposed to be on the photo platform instagram. the advertising was to be tailored to the individual user, using data that advertisers can purchase this data, include hobbies, locations, and even opinions on socio political issues. pretty scary stuff. never showed

polluted. prominent means in tech circles, privacy activists, edward snowden, and put your finger jack dorsey appraised the stream of your genuine vessel phone treated you signal to your the europe commission also recommends using signal i, our privacy experts appreciate signal to getting the message or a thumbs up the other app do encrypt their transmission, but signal is trying to build a business off of essentially guaranteeing that the communications pre new and other signal users are completely private. they don't hold what we call the key encryption keys to those messages. and whether you're concerned about other individuals, hackers or the government signal probably checks all those boxes. signal has declared an offensive on facebook or pig data policy. for example, with that like this, they were supposed to be on the photo platform instagram. the advertising was to be tailored to the individual user, using data that advertisers can purchase this data, include hobbies, locations, and even opinions on socio political issues. pretty scary stuff. they never showed up on instagram. faceboo

polluted. prominent means in tech circles, privacy activist, edward snowden, and put your finger jack dorsey appraised the stream of your genuine loaners treated you signals last year. the europe commission also recommends using signals that are produced, expert appreciate signal to giving the message or other apps do encrypt their transmission. but signal is trying to build a business off of essentially guaranteeing that the communications between you and other signal users are completely private. they don't hold what we call the key encryption keys to those messages. whether you're concerned about other individuals, hackers or the government signal probably checks all those boxes. signal has declared an offensive on facebook's or page data policy. for example, with ads like this one. they were supposed to be on the photo pad from instagram. the advertising was to be tailored to the individual user, using data that advertisers can purchase. this data includes hobbies, locations, and even opinions on socio political issues. pretty scary stuff. never showed up on instagram. facebook claims th

in the apple watch 7 due this fall as you mentioned, jay z finalizing the sale of 80% stake to jack dorsey's jay z if i turned up at my mothers with donuts instead of flowers, they have a donut disguise box six-pack of donuts that looks like a book. if you're in detroit and columbus, ohio, one or two other locations, you will be able to buy these for your mother on the ensuing mother's day this weekend. >> that's assuming they're donut shaming. eat them loud and proud. you don't have to hide that. >> new way you can hide other things in there. steve, thank you. >> which late night host is leaving decades on tv first for a streaming service instead? >> and the artist rmlyfoer known as puff daddy has made another change to his name well... we started buying charmin super mega roll. whoa! that's huge! charmin super mega roll is 6 rolls in 1 and lasts so much longer you don't always have to worry about the roll running out. i'm glad you were rescued, dad. me too. it was a huge relief. enjoy the go with charmin. guaranteed to fit or your money back. does your vitamin c last twenty-four hours? onl

jack dorsey to remove it started trending. former trump campaign advisor current and america's host chris hedges shared their views about the dangers digital monopolies pose to free speech. they have created these digital monopolies which should be broken up if they can do it to head of state like trump they can do it to a head of state like merkel or somebody else that they don't like what they really want to shut down or any critics on the right or the left of neo liberalism of corporate capitalism of the crimes of imperialism and. we just it's not a world that we want to enter because it essentially snuffs out the free flow of information we must remember they know everything about us we know nothing about them and it sets a very dangerous precedent now it's a whole new paradigm and one that i find very terrified i think this should actually terrify every single american any single citizen in the free world because we're looking at. a private corporation who is operating as a platform and one day and a publisher the next da

what are your impressions about jack dorsey and mark zuckerberg and the others?epresentative latta: when the test about before the committee, i think they need to really listen to some more people. there are a lot of hard questions that were asked at the last hearing we had. i will be very happy when we are able to have everybody in front of us in person, and not just by zoom. i think the committee hearings will be functioning better when we are all back in person again. but for the companies and ceos, it is really knowing what their platforms are doing out there. it is not just crunching numbers and things like that, but the overall effect they are having across society. that is why it is important just hearing from mr. zuckerberg, that day he brought his own kids. and our concerns about what can happen to children up there on these platforms on how much is there, so that is why we have those hearings, to make sure we get this point out there, and we are on the legislative side, where things have to happen. but we want to make sure the platforms here us loud and

it's crazy, twitter's jack dorsey says its ban is permanent, telling house lawmakers in march his companyieves in free speech with certain limits. we must balance that with our desire to for our service not to be used to sow confusion division. or destruction. what president trump is reportedly considering starting his own social media platform. for now, he's resorted communicating by press release last week, he told fox, he's found it to be quote better and a more elegant way to communicate in washington. mike emanuel fox news. oh bury weather temperature is starting off the week on a warm note. in fact, the warmest locations right around 90 degrees. the eventual trend, though we're going to cool things off the over the next few days tomorrow. still a few one neighborhoods could be close to 1 90. let's show you some of the numbers from today's we take a look at the maps. you could see the hot spots a few 90 sprinkled sprinkled on this graphic out toward fairfield, antioch and out toward conquered oakland, 78 some eighties up in the north bay and san francisco downtown. down in the upper

any at all so they're still holding and likely accumulating and here's the thing in addition to jack dorsey saying that they will actually improve sustainable energy billionaire mark cuban is also voicing out saying that crypto currency is including bit quite well actually help the environment because keep in sight of the industry has become the near equivalent of nuclear waste dumps that must be candid into perpetuity because hard rock mining generates more toxic waste than any other industry in the us and he also cited that bitcoin network of change 74 percent of its electricity from renewable sources and then another independent study points energy usage stands at 114. terawatt hours while the banking industry consumes over 260 karawaci hours each year and this report was came out on friday which provides open source access just methodology and calculations so in conclusion shrinking big bank and when you say it will actually benefit society and the environment excellent points to consider here and i hope that a lot of us give listening to this one in particular christiane thank you so m

so obviously this is not new news for him because back in april in fact he actually agreed with jack dorsey a square that decline actually incentivize renewable energy because miners are unique energy buyers and there are some miners face in countries like iceland and norway where most energy production is almost 100 percent renewable via hydro electricity and geothermal energy so with mining you actually want to maximize the number of per kilowatt and currently the most efficient way is through the use of solar hydroelectric because those are the cheapest way to produce electricity so again no new information here must agree with dorsey on this so why is he suddenly doing this one a day without a better explanation and if he really did feel this way why didn't he elaborate on what he meant because his tweet was so generic so clearly there are other factors and motives at play here and you brought up a very good point because if we're all all on the let's be more green thing by musk unless he switches rockets manufacturing and battery manufacturing where you're actually mining huge huge amo

sold any at all so they're still holding and likely accumulating and here's a thing in addition to jack dorsey saying that they will actually improve sustainable energy billionaire mark cuban is also voicing out saying that crypto currency is including bit quite will actually help the environment because keep in sight of the industry has become the near equivalent of nuclear waste dumps that must be tended into perpetuity because hard rock mining generates more toxic waste than any other industry in the us and he also cited that bitcoin network obtained 74 percent of its electricity from renewable sources and then another independent study points energy usage stands at $114.00. terawatt hours while the banking industry consumes over $260.00 kara was hours each year and this report was came out on friday which provides open source access to methodology and calculations so in conclusion shrinking big bank and when you think will actually benefit society and the environment excellent points to consider here and i hope that iran must give listening to this one in particular christiane thank you so

the social media ceos have been in front of congress several times and what is your impression of jack dorsey and mark zuckerberg? >> guest: when they've testified before us in committee no, it comes down to they really need to listen to some more people, in my opinion. there are a lot of hard questions that were asked them at the last hearing that we had and i would be happy when we were able to start having everybody in front of us in person and not just by zoom because i think the committee hearings will function even better when were back all in person again but i think for the companies and for the ceos i think it's knowing what their platforms are doing out there and it's just not crunching numbers and things like that but the overall effect they are having a cross a society so i think that is why it's important and i think that this hearing from mr. zuckerberg that day about his own kids and, you know, our concerns about what can happen out there with on children out there on these platforms and how much is there so that is again, why we have those hearings to make sure that we get tho

sold any at all so they're still holding and likely accumulating and here's a thing in addition to jack dorsey saying that that one will actually improve sustainable energy billionaire mark cuban is also voicing out saying that crypto currency is including that quite well actually help the environment because keep in sight of the industry has become the near equivalent of nuclear waste dumps that must be candid into perpetuity because hard rock mining generates more toxic waste than any other industry in the us and he also cited that bitcoin network of change 74 percent of its electricity from renewable sources and then another independent study points energy usage stands at $114.00. terawatt hours while the banking industry consumes over 260 karawaci hours each year and this report was came out on friday which provides open source access just methodology and calculations so in conclusion shrinking big bank and quine you think will actually benefit society and the environment excellent points to consider here and i hope that a lot of us give listening to this one in particular christiane thank

what's your impression of jack dorsey and mark zuckerberg? >> guest: when they have testified before us in committee, it comes down to i think that i think they need to really listen to some more people in my opinion. there are a lot of hard questions that were asked them at the last hearing that we had. i will be very happy, we are able to have anybody in front of in person and not just via zoom. i think the committee hearings will function even better when we are back all in person again. again, i think for the companies and for the ceos i think it's really knowing what the platforms are doing there. it's just not crunching numbers and things like that, but the overall effect they are having across society. that's why it's important i think just hearing from mr. zuckerberg that day about his own kids. our concerns about what can happen out there on children out there on these platforms and how much is there. that's again why we have those hearings, to make sure we get those points out there. and then again on the legislative side where thin

so obviously this is not new news for him because back in april in fact he actually agreed with jack dorsey a square that they're quite actually incentivize renewable energy because miners are unique energy buyers and there are some miners face in countries like iceland and norway where most energy production is almost 100 percent renewable via hydro electricity and shields are more energy so it might mean you actually want to maximize the number of her kilowatt and currently the most efficient way is that they use that solar and hydro electric because those are the cheapest way to produce electricity so again no new information here must agree with dorsey on this so why is he suddenly doing this one a day without a better explanation and if he really did feel this way why didn't he elaborate on what he meant because his tweet was so generic so clearly there are other factors at play here and you bought up a very good point because if we're all along the let's be more green thing by musk unless he switches rockets manufacturing and battery manufacturing where you're actually mining huge hug

any at all so they're still holding and likely accumulating and here's the thing in addition to jack dorsey saying that that one will actually improve sustainable energy billionaire mark cuban is also voicing out saying that crypto currency is including bit quite well actually help the environment because human side of the industry has become the near equivalent of nuclear waste dumps that must be tended into perpetuity because hard rock mining generates more toxic waste than any other industry in the us and he also cited that bitcoin network of pain 74 percent of its electricity from renewable sources and then another independent study points energy usage stands at $114.00 chair. hours while the banking industry consumes over 260 terawatt hours each year and this report was came out on friday which provides open source access to its methodology and calculations so i conclude in shrinking big bank and when you say it will actually benefit society and the environment excellent points to consider here and i hope that you are on most of listening to this one in particular christy i thank you s

so obviously this is not new news for him because back in april in fact he actually agreed with jack dorsey a square that decline actually incentivize we knew more energy because miners are unique energy buyers and there are some miners face in countries like iceland and norway where most energy production is almost 100 percent renewable via hydro electricity and geothermal energy so with mining you actually want to maximize the number of her kilowatt and currently the most efficient way is through the use of solar hydroelectric because those are the cheapest way to produce electricity so again no new information here must agree with dorsey on this so why is he suddenly doing this one a day without a better explanation and if he really did feel this way why didn't he elaborate on what he meant because his tweet was so generic so clearly there are other factors at play here and you bought up a very good point because if we're all all on the let's be more green thing by musk unless he switches rocket's many faction and battery manufacturing where you're actually running huge huge amounts of l

when jack dorsey went to appear before congress, he had a clock like this behind him, and a lot of peoplehought it was showing russian time, but actually it was just showing the price of santosh east. emily: good to have you. coming up, we will hear from cathie wood on where she thinks the market is headed and how much higher or lower bitcoin can go. this is bloomberg. ♪ emily: when price swings lead to investor mood swings, we are talking bitcoin. cathie wood in february predicted bitcoin would go to five hundred thousand dollars. bloomberg spoke to her earlier. cathie: i think what is happening right now is because the highly volatile part of the stock market, the innovation part of the stock market that has gone through such a correction, which has been flamed by inflation fears -- i think the correlations among volatile assets are going to one right now, including bitcoin. emily: you told dow jones it could go to $500,000. do you think that is still where it is headed? cathie: i do. we do. our crypto analysts -- we go through soul-searching times like this, and, yes, our conviction is

jack dorsey of course, square has a huge bitcoin business.he consensus on crypto in the miami community? is there a unique take there, if you will? jon: yeah. i think there is a lot of excitement about crypto everywhere right now. the nft phenomenon has kind of brought a use case, a values case to the blockchain. and i think that is important. i think there will be others. it is the first that has kind of gotten some traction. we have already talked about images and art can be validated using the blockchain. and it's happened and there is real money behind it. i think that phenomenon in the past six months has really given cryptocurrencies a bit of support. there's a lot of unanswered questions in regard to evaluation, and how -- what other business cases will be useful, but time will tell. emily: let's talk a little about that. how do you, as an investor, separate the currencies, the opportunities, the companies that are building onto this craze, from some that might be, quite frankly, a joke? we had an investor on earlier who called doge no

jack dorsey giving enormous amounts of money to those who are in this type of message is something webe angry about that yet i think this is the sort of thing we will continue to see to pay indulgence to the religion of critical race theory to escape the attention they would otherwise receive as white ceos are the major corporate entities. >> it's so important to look at the impact on children. that she i had friends who said their kids came home and said i'm embarrassed and ashamed to be white. another friend said iam embarrassed to be an american. this is how it is being interpreted by our children. we have done so many things coming from the left to damage our children whether lockdowns or mask mandates. we see this critical race theory that is impacting their self-esteem and even their ability to achieve the american dream that has been so eloquently laid out. this is damaging our children these are our children and our tax dollars we have to take control because it is getting out of hand. trace: important points. a fox news alert capturing brand-new video of illegal immigrants ma

jack dorsey with tesla, elon musk. keeping his belief with bitcoin.uy any bitcoin with the cash holds after losing $20 million on the bitcoin purchases in the first three months of this year. stuart: after all this backwards and forwards, bitcoin is at $44,000 a coin. susan: down from 53,000, remember? that was last week, last wednesday. stuart: yeah. that is quite a rapid decline. susan, thanks for keeping up to speed with mr. musk. always appreciate it. >>> this is out of left field. navy pilots speaking about possible ufo an counters. roll the tape. >> we saw a little while, tic-tac looking object. it turns abruptly. starts mirroring me. i start coming down, it comes up. it gets right in front of me and disappears. stuart: how about that? that is a shocker. congress by the way is taking it seriously and we have details for you. >>> there is this, prince harry calling the first amendment bonkers. so why doesn't he just leave the country, please? we'll get into that. first the border surge, no sign of letting up. now how many migrants are coming here

i what i now what it before this because i think someone was talking jack dorsey, the founder of twitter>> selling his original tweet. teen is in ft. i don't think that i don't know if it's happened or not. but i'm just starting to learn about coin. are you involved in i'm i'm learning it's kind of cool. but i'm not i don't know you know, anything. you know. >> other than a you know, you like, you know, like i'm not messing around with that. you know, stuff or maybe he >> you have dose going. jason. eu foreign cash e. for cash nationally. i like it. thank you so much for joining us here on kron 4 news this weekend. i'm justine waltman of jonathan mccall. don't go anywhere, jason collins up next with sports night live. they're going to take you through the rest of the night. >> we'll see you next weekend. it's time for sleep number's memorial day sale on the new sleep number 360 smart bed. it's the most comfortable, body-sensing, automatically-responding, energy-building, dually-adjustable, dad-powering, wellness-boosting, foot-warming, temperature-balancing, recovery-assisting, effortles

jack dorsey an company, they're testing. >>> and elon's crypto cryptic tweets mad at the tesla ceo again this morning. carl >> yeah. what a weekend on that front, de meantime, challenging for technology again nasdaq, worst performer of the major indices after last week's sell-off chips are taking it on the chin today. down more than 2%. faang mostly holding up. the big movers, jon, at&t/discovery opening up double digits and close to flat. >> yeah. that is the deal of the morning. discovery and at&t announced that they will combine discovery with warner media. a merchant to create a stronger streaming challenger for the likes of netflix and disney and one owned by the at&t and discovery share holders currently. shares of both companies surged off thatannouncement but discovery series a lost all the gains, though. disck, still up 9% the question is, is this combination of content enough to catch up to the competition? discovery's ceo's and at&t ceo earlier with david faber >> there's billions of people out there that we could reach in the market we're going -- you know, today we're almost

. >> so have you been in contact with doctor berg and jack dorsey and they deployed an army of obviouse sunshine state. desantis: usually mike contact with him is when they take my videos down like on youtube. some of the things that i do on twitter which is really unbelievable but i think big tech is very arrogant. i don't think they come i think they think their bulletproof because of section 230 under federal law. but what we did is we didn't touch second attempt that section because we can't obviously to be focused on consumer fraud theory. so they have in terms of service, they played in ways that are discriminatory and so if you or somebody is been centered on fairly work platform, were giving you the techty to sue big yourself. think of something that the necessarily thought we would do so we were able to get a thrill and the thing is, this not just purely a republican thing. think their people are not necessarily republican to see the danger of going down the road in which the discourse in a country controlled by silicon valley. jesse: we just talked to attack about that at the

to be a change in tune because a couple weeks ago we had cathie wood, jack there were earthy -- jack dorseyn musk promoting the idea that mining bitcoin could be good for the planet. of course critics have long been pointing out that despite institutional hedge funds that have been eager to promote the opportunities in trading bitcoin, there is a lot of concern over how it affects the environment in terms of the amount of energy consumption needed to mine as well as maintain bitcoin. we will be getting you more on that story as it develops, but watching a little bit of pressure. not exactly a wild swing for bitcoin. let's get the latest on the virus now. moderna has reached a deal with the australian government to supply 10 million doses of its covid vaccine this year. more booster shots are expected in 2021. it my also see the moderna produce locally and utterly a. paul allen joins us now for more. australia now has three vaccines. could this potentially change the situation when it comes to the very slow vaccine rollout? paul: potentially it could. it is hard to say when the moderna is go

it is not visionaries like jack dorsey. you are seeing real institutional involvement.ayscale investment ceo. we spoke in the last hour. that is has bitcoin plunged as bunch as 10%, following below 50,000. michael mcglone of bloomberg intelligence joins us now. the easy question. you want to buy the dip. is this a big deal? michael: most people are thinking this is a by the dip. the prices the same since february. before tesla allocated it was bumping up against 40,000. now is coming back to support. the key thing to think about is elon musk just pointed out the whole strength of the bitcoin network is a decentralized -- the largest computer network on the planet. it uses a lot of energy. that energy happens to be electricity. what is the difference between a using electricity and bitcoin? bitcoin goes to sources that are cheap. all of the electricity is going renewable because it is a matter of time. the force of electricity. guy: i'm not even going to get into that. i am not sure you can make that comparison. what i can ask you about is how much less is bitcoin worth

jesse: have you been in contact with zuckerberg and jack dorsey and deployed lobby fist to sunshine statestop this? >> well usually my contact was them when they take my videos down off things like youtube or put disclaimers on some of the things i do on twitter which is really unbelievable. but jesse i think big tech is just very arrogant. i don't think that they think i think they're bullet proof because the section 230 under federal law. but what we did is we didn't touch section 230 at the state level because we can't, obviously. so question focused on a consumer fraud theory so they have these terms of service, they apply it in ways that are discrimer to so fur to platform you can see big tech yourself and i don't think that was something that they necessarily thought we would do. so we were able to get its through and the thing is jesse this is not just purely a republican thing. that i think there's people who aren't necessarily republican who see the danger of going down a road in which the discourse in our country is controlled by oligarchs in silicon valley. jesse: we talked wit

we know jack dorsey came out and said that shouldn't have happened.es aren't enough. >> many americans would say so and that's part of the drive. this is smart politics certainly by governor desantis. i do agree however with emily that there is some real questions about legality and enforceability of this provision in law. i would also say they are questions about what the appropriate role of government is when regulating enterprise. what's the balancing act. these are tough questions. there is a pretty significant bout for disney, a company we were criticizing. that smacks the politics. there is a legal battle ahead. i share frustrations towards inherent in this effort, and i think the devil is in the details and we can't compound the problem by making it worse. >> conservatives have to fight back, good for you for trying to do something. shots breaking out in minneapolis. one year after the death of george floyd and it was all caught on video. coming up next. highs.values are atd now's the time to use your va benefits to turn your home equity into c

it is not just visionaries like elon musk or jack dorsey.g real institutional involvement. when you combine that with what is going on on corporate balance sheets, adding bitcoin, as well as the surrounding environment and stimulus being injected into the financial system, you have seen investors continue to gravitate towards new stores of value and new returns for things like crypto. we only see that trend continuing. guy: michael, thank for joining us. i close on and shine of grace -- michael sonnenshein of grayscale investments, thank you. this is bloomberg. ♪ ♪ ritika: it is time for the bloomberg business flash, a look at some of the biggest business stories in the news right now. the biggest blunder of fossil fuel companies. jp morgan pledging a 35% cost -- the biggest funder of fossil fuel companies, jb morgan pledging a 30 from his off -- pledging a 35% reduction in carbon emissions. and disney reports fiscal second quarter earnings after the closing bell today. disney is seen as more insulated from the unwinding of the stay-at-home

people are rightfully concerned about the power sitting only with people like mark zuckerberg or jack dorseyle get to see. >> so let's talk about what happens now. just on monday, the president said -- lied again and said the fraudulent election of 2020 will be from this day known as the big lie. one would safely assume, if he's back on facebook, then he'll just post that again, right? has anything really changed from when zuckerberg made that declaration on the 7th, that he was too dangerous to be on facebook until today? >> i think that's the question that everyone is grappling with. i'm not sure much has changed. that may be part of the reason, recognizing the oversight board wants to give facebook six months, to see how the political climate continues to evolve. if it does change in terms of the threat of violence that is happening, and i think as well with this, their policy recommendations are, again, wanting to provide clear rules for people and world leaders about what they can or cannot say on the platform. a lot of it to me feels like this is a bit more of wait and see and trying t

jack dorsey had his contempt for congress on the full display on the house energy commerce committee hearing i think it was last month and he tweeted a poll on possible answers to the question basically treating the hearing as a joke. so do you agree that it is unacceptable for the ceo to tweet while he is testifying before congress, yes or no. >> he is the ceo and creator. i ask for a yes and no, but i will say i am pleased you are looking and appearing more presentable than your ceo in his testimony before us when he behaves disrespectfully in a congressional hearing and before the american people, he embarrasses twitter. it's such proof how out of touch it is with the rest of the country. in my opinion it is destroying the free speech competition, original content. it is responsible also for much of our children's minds. this is something that bothers me the power of facebook and users algorithms to the social media addiction where it is among babies, toddlers, tween's and teams and this is something that should terrify each of us. youtube deploys them and they do it because it pa