. >>> plus, the bitcoin brain trust, what elon musk, jack dorsey and cathie wood said today that sparked a new rally in crypto land. >>> getting real, the real, real rallying on the back of a big upgrade. one of our traders sees even more upside ahead of this stock. we'll break that down. first we start with another higher move far markets. stocks rallying in the close recouping all of monday's losses and this week's wild swings, got our traders flagging some eye popping moves. our traders have come up with the three most ridiculous charts in the market. so we kick it off with the ten-year yield falling as low as 1.13% yesterday morning before rebounding all the way back up to 1.3%. guy, this was on your radar. >> yeah, and we've been together a long time now, and i think you realized pretty quickly i'm not the brightest bulb in the knife drawer, you know what i'm saying one thing i do know is the biggest economy in the history of the world ten-year yields should be the most liquid security out there it should not go in my opinion from 141 down to 125, back to 140, down to 113, up to 130

that's the baeatles elon musk, jack dorsey and cathie wood.'re doing. >>> if you are stuck in traffic in the hamptons and you need something to listen to, we appreciate being on your listening list >>> dow futures up 900 and markets now positive for the week we're back right after this. hey, it's good to see you. the company we've trusted to keep us working remotely, is the same company we'll trust to bring us back together. cisco. the bridge to possible. this is dr. arnold t. petsworth, he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers spending potential that's built for his changing business needs. he used his card to furnish a new exam room and everyone was happy. get the card built for business. by american express. >>> the big bounce back rolls on futures are higher as investo

what is going on here with square is jack dorsey being too bullish? i also love the name of this company. can we talk about the name of the company. tbd. at first, people thought this was just a place holder. it's actually called tbd, which is quite symbolic and nice no one really knows what's going to happen in this market appropriate name from my perspective. >> yeah, joanna, and it's amazing looking at sort of the cadence and pace of new product introductions not just for square but remember, jack dorsey also runs twitter, deirdre, and pretty notable that he's making all of these new moves as square expanding into these other areas at the same time as twitter is really ramped up the pace on new product introductions, and even closing down some products that aren't working, as we saw with the death of fleets and the further investment in spaces, d. >> yeah, you know, he likes to experiment in the open, and joanna, you can do your carl and john impressions just don't do julia or i until we're out. let's get to our first guest he says that buying squa

names in business are getting together at a big crypto conference tesla's elon musk, square ceo jack dorseyrguably three of the most influential people in crypto the three are on a panel as we speak. i just turned the volume down. it's hosted by the crypto council for innovation 40 minutes in and they're still getting into a lot of these topics elon musk is wearing a bitcoin shirt. he says on balance he supports bitcoin but brought up the environmental impact of cr cryptocurrency mining. >> i'm a supporter of bitcoin and the idea in general. but as i said what i watch out for, crypto taking, especially bitcoin, to maybe use energy that's a bit too much and not necessarily good for the environment. >> reporter: musk had been blamed for sparking bitcoin sell-off the impact of the environment. tesla stopped taking bitcoin as a payment, if you remember he says they want to start doing more diligence he did say tesla would most likely resume accepting bitcoin at some point. doing a little more research he owns bitcoin, ethereum and dogecoin another headline here, musk says that spacex also owns

now we also heard from jack dorsey mentioning that he hope coin could help create world peace. when you hear their comments about what draws under crypto currency, just to show they are more than just billionaires who are lacking on the counterculture. i mean, do they take group or currency seriously? well as much as i dislike musk, i don't think that him specifically him and dorsey are in big because they want to be countercultural. i do think some other billionaires are such as paul tutor jones, or even i'm ready dally, of bridgewater, and even some millionaires like snoop dog, a con, busta rhymes, etc. they're all in it because crypto currency. and because with the new fad, the new trend, the new thing, everybody is talking about it trading it and making money on it, issuing a con coins and the works like that. so i think mosque and dorsey they come from the technology background and so they come from the mindset that, hey, this is actually revolutionary. and this technology could actually have the potential to change the world. and having that technology background, they un

sonny: elon musk, jack dorsey, kathy would -- kathy wood, a triple crown of speakers about crypto.hey all have their different beliefs. crypto has a different leaf depending on where you are in the world. all three had a different vision as to why they loved crypto. that makes crypto so great. caroline: many we have talked to here, the arrival of institutional money and how you need institutional adoption, and in some analogous way you need to centralize it to have everyone take forward the centralization mantra that is crypto. we had scott minerd on earlier, key man at guggenheim. he is saying bitcoin is going to go to $15,000. this is in the right time to buy. how much is this a worry when institutional money is still on the sidelines? sonny: fairpoint, but three years ago when bitcoin had its big drop, everyone thought this was the end of bitcoin. the sky is falling. now we just had this drop, the institutions that got in six months ago like fidelity, none of them have sold. all of them have reiterated their belief that we are long-term holders of bitcoin. we don't mind this rec

jack dorsey has done a lot for bitcoin. square has done a lot for bitcoin.his credit glad to see him continuing to be a pioneer, helping to propel and push society forward to create a more equitable world. four -- ford have billion people on the planet and under banks. they lack the financial services for these technologies are going to create financial inclusion for everyone. life, liberty, the pursuit of happiness. this is essential for everyone to pursue that happiness that is the american dream. >> hopefully that something that will take el salvador out of the economic gutter that it's neighbors have been embroiled in for so long because of the drug war. most people, a vast majority of people and el salvador use cash they do not have bank accounts. everything is done via cash. how did they switch from that to bitcoin? and raise their mobility and life as well? >> it will be bitcoin as well as effectively a digital dollar. 70% of the population of el salvador is on bank. they do not have banks, they do not have credit cards. if you order and uber and el s

if you're jack dorsey and you're seeing people move towards this decentralized world, if you build it, they will come >> he's been bullish on it for some time. when we look at the fintech performers which has been tremendous, these are huge markets, paypal is among the top five banking apps in the world are you concerned about that or like sara is saying, does that just tell us that these are where the flows are going? >> i think that's what it tells us right now the funny thing about all the crypto stuff is people don't actually use them to pay for transactions this is about people buying them and waiting for the value to go up, right? so, i think probably the biggest thing that -- bit of information we're going to get in the next five years in this space is is there an appetite for transactions and if so then, you know, somebody's going to make some money off of it. is it the innovator or is it going to be the traditional banks? we won't know. but that's probably what i'm looking at the most is where are the transactions >> right and who's making the fees and then who's going to rak

axios is reporting he's planning to file a lawsuit against the twitter ceo, jack dorsey. facebook ceo rex zuckerberg. any moment now we expect an update on the deadly condo collapse in surfside florida. the mayor and the miami-dade fire rescue chief are among those who are slated to update. we will monitor both of them and bring you any live updates. meanwhile president biden is facing pressure to take on the crime surge that is devastating the united states' largest cities. this is "the faulkner focus," i'm gillian turner in for harris today from washington. things were joining us. homicides are surging across the country. as you can see, the stats here. republicans now and critics of the white house say the president is failing to connect the impact the far left, state-level policies and riots have had over the past year. yesterday the white house seemed to blame the crime spike on seasonal changes. listen. >> continues to work to address violent crime, we have seen it go up over the last 18 months around the country, including in the city of chicago. we see spikes in v

giants including facebook, google and twitter, as well as their ceos, mark zuckerberg, dash, and jack dorsey. three real nice guys. [applause] trump: we are asking the u.s. district court and the seven district of florida to issue an immediate halt to social media companies illegal, shameful censorship of the american people, and that's exactly what they are doing. we are demanding an end to the shadow manning, a stop to the silencing, and a stop to the blacklisting, vanishing, and canceling that you know so well. our case will prove this censorship is unlawful, it's unconstitutional, and it is completely un-american. we all know that. we all know that very, very well. our filing also seeks relief to allow prompt restitution and restoration and you can name about 20 other things, and it has to be prompt, because it is destroying our country. of my accounts, in addition, we are asking the court to impose punitive damages on these social media giants. we are going to hold big tech very accountable. this is the first of the motions that will follow, but this is the lead and i think it's going t

the elon musk, jack dorsey, and kathy would touting the token at a crypto conference. we will get the case from scott minerd. four of hong kong's top banks stop mortgage lending for evergrande properties as default fears grow. haidi: let's take a look at how we are setting up for this thursday session with asian equities firmly in the green on the back of the rally and wall street. this is how we are seeing early trading in new zealand. modest gains, .2% when it comes to trading in the key recession. futures looking like the gains will continue after the s&p 500 notched its biggest two day rally in months. the russell 2000 jumping almost 2% as well. a big story when it comes to oil, pulling back when it comes to wti at the moment, jumping. previously, the most since mid april. we see this broader optimism after that u.s. government report. we saw gasoline stockpiles driving last week as well and that added to some of those gains and as shery mentioned, a bit of an interesting session for bitcoin. we saw it briefly passing 32,000. elon musk, jack dorsey, all speaking at

the elon musk, jack dorsey, and kathy would touting the token at a c

you have kathy wood, elon musk and jack dorsey.e's what they have to say. >> i believe that bitcoin will be much more environmentally friendly than traditional gold-mining or traditional financial services sector. in many ways, it already is. >> what about letting twitter advertisers pay in crypto? >> any form of payment they want to use we should be able to take. i am more focused on how we create economic incentives in the network itself without having to rely on advertising. >> i think something in the neighborhood of $15,000 is where we are going to and up. the standard bull market -- bear market for bitcoin has been an 80% retracement. given all of this, i think there is more downside to go. david: that is the case. it brings to mind to jack dorsey's point the benefit of having this on your balance sheet. you have to be prepared for anything. that does make sure a treasury. rishaad: i wonder what scott minerd is up to. this is a man that said the price can't be justified. then he goes on the $600,000 price target four days lat

the jack dorsey he wants to create an open, develop a platform to make it easier to provide a centralized financial status following the pattern to squares. previously in our digital wallet, a bitcoin german airline. lufthansa has its new holiday carrier called your wings discover. it starts off with 7 planes with its 1st flight next week to mombasa in kenya. it also says special holiday destinations like amman jara victoria falls in africa. i know that gun is not harvesting season is a crucial time for many rural women who earn a living, making shade butter. but a surgeon multinational companies exporting the raw nuts is now threatening their livelihoods. myself, duke reports i had a motor house and is among dues profiting from money increase international interest in gun if not industry. he buys the produce from thomas in sales on to more to national. this particular budget destined to be shipped to techie business . he says, is me, i say 2018. and 29 to coffee. i supply more than $10000.00 to my company and $29.00 in 2020. i sell about 18000 metro dos. ganna is, was the guest head larg

currencies have raised their profile and helped send prices. soaring tech likings must come to this jack dorsey are among those. in fact, the likes of bitcoin, the creation of bitcoin. and as mining is an enticing prospect in a country like ours in tina, where the national currency is depreciating rapidly. but there are risks attached people like argentinian alejandro. are hard to trace. he's afraid of the tax authorities. he's one of many who mines crypto currency from home, lupins. i'm going to come when i went in, but as a good investment in argentina because argentine as pain, so a so weak you can't get many dollars for it. and you often have to pay for things and dollars. but we have subsidized electricity in argentina, and here on the capital that makes crypto mining worthwhile and does, as isn't going to holler. but i mean that he, together with a friend on a 100, spent the equivalent of 5000 euros and pesos to buy computer equipment. they'll pay it back in $18.00 installments, interest free. they estimate that the crypto currency, bitcoin more strength, and better than the soft argentin

a long must can put his jack dorsey, among those in the back, the likes of bitcoin, the creation of bitcoin. then as mining is an enticing prospect in a country like argentina where the national currency is depreciating rapidly, but there are risks attached people like argentinian alejandro, are hard to trace. he's afraid of the tax authorities. he's one of many who mines crypto currency from home, lupins. i'm going to go more know any, but we're going to get a good investment in argentina because argentine as pain, so is so weak. you can't get many dollars for it. and you often have to pay for things and dollars, but we have subsidized electricity in argentina and here in the capital that makes crypto mining worthwhile in this isn't going to holler, but i mean that he, together with a friend on a 100, spent the equivalent of 5000 euros and pesos to buy computer equipment. they'll pay it back in $18.00, installments, interest tree. they estimate that the crypto currency, bitcoin most strength, and better than the soft argentinian pay. so despite fluctuations, some companies also spent milli

the one organized by jack dorsey open money initiative cofounder joins us now jill, thanks for beinghing that wood, and musk, cathy wood, elon musk, jack dorsey, is there anything they could say at this event that would move bitcoin one way or another >> i mean goodness knows whatever elon musk says, it's been proven over the last six months, can move markets so i'll be keeping my eyes on the headlines out of that event. it's important to note it's going to be a fairly balanced crew up on stage together. jack dorsey is making investments in crypto and bitcoin via infrastructure he's building out through square and desensitives areas of twitter. and wood is one of the biggest proponents who knows what side of the day he woke up on and where he'll come out it will be a balanced crew regardless and it will be interesting to see the headlines that kp from that discussion. >> what side of the coin musk will turn out to be. you bring opgood point with regard to musk because recently it wiped out all of the games that tesla had made, which at one point saw $1.9 billion do you expect that to

now he is preparing to take action over his concerns >>> and jack dorsey doubling down on the future of bitcoin. it's friday, july 16th, 2021 you are watching "worldwide exc exchange" here on cnbc >>> good morning tgif i'm dominic chu in for brian sullivan today quick check on the friday morning money. we are seeing stock futures showing very, very modest stability here you see the dow implied higher by 37 points at opening bell s&p higher by 3 points and nasdaq up by 5 the under performer yesterday. the dow is the only index still positive for the week and also on pace for the four-week winning streak nasdaq is about to snap an eight-week winning streak of its own. >>> breaking news from china regulators step up the investigation into regional ride hailing giant didi global. we have arjun kharpal joining us from beijing this is the next step to rein in the tech giants. >> reporter: absolutely, dom the timeline is days after the massive ipo. regulators opened a cybersecurity into the company they asked to pull the app from download they told didi they could not sign up new users. now

. >> mark zuckerberg, and jack dorsey. three real nice guys. [applause] they are asking the u.s. district court for the southern district of florida to order an immediate halt to social media companies, illegal, shameful censorship of the american people. that is exactly what they are doing. we are demanding and end to the shadow beening , the stop to the silencing, and a stop to the blacklisting, banishing, and canceling that you know so well. our case will prove this censorship is unlawful, it's unconstitutional, and it's completely un-american. we all know that. we all know that very, very well. our filing also seeks injunctive relief to allow prompt restitution -- really, restoration. you can name about 20 other things, it has to be prompt. because it is destroying our country. my accounts, in addition we are asking the court to impose punitive damages on these social media giants. we are going to hold big tech very accountable. this is the first of numerous other lawsuits, i assume, that would follow. but this is the lead, and i think it's going to be a very, very important

. >> jack dorsey with interests in bitcoin for some time. if you have got twitter and amazon of both here does that somehow stabilize the market? and is that somehow necessary? >> i think it grows the market i'm not sure it stabilizes it. jack dorsey has done a lot for bitcoin, square has done a lot for bitcoin. i'm glad to see him continuing to be a pioneer helping to propel and push society forward. to create a more equitable world. there's a foreign have billion people on the planet that are under bank to predate lack financial services. includes financial and cures inclusion for everyone. it's for everyone to pursue that happiness. that is the american dream. >> hopefully it is something that will take el salvador out of the economic gutter that its neighbors have been embroiled in so long because of the drug war. most people, a vast majority use cash. they do not have bank accounts. how do they switch from that to bitcoin? and raise their mobility in life as well? >> 70% of the population if you order an uber that comes with el salvador

we are hearing reports that he is going to announce lawsuits against mark zuckerberg and jack dorsey.t because former president donald trump will be speaking at the top of the hour. we're expected to hear about plans to file a class-action lawsuit against mark zuckerberg, founder of facebook and jack dorsey, the founder of twitter. that is according to "axios." trump and others have accused them of trying to silence conservative voices. this is a theme he has been repeating for a while now. trump has taken aim at facebook, google, twitter, as giants that have become too powerful as their platforms control and dictate what voices should be censored, making it possible to bypass the constitution's first amendment of free speech. >> big tech giants like twitter, google and facebook should be punished with major sanctions whenever they silence conservative voices. reporter: much the republican lawmakers as well say big tech giants, that the government needs to rein them in because they're suppressing speech they don't like and are telling people how to think. this attack on big tech socia

caroline: jack dorsey and elon musk paying attention, i am sure. thank you so much.at spending time with you. romaine: just a reminder, you can subscribe to our weekly podcast. you will find all the best conversations we had on the show. great stuff. you got a podcast. joe: bloomberg technology is up next. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burs

they might announce other things with cathie wood and jack dorsey and cathie investing in what jack dorseyady had that announcement we don't know what's going to happen it won't overcome this bearishness. today people are bullish >> sure. >> what do you attribute this to we have this event coming up at 2 p.m. that a lot of people are talking about. in your mind, that's not a catalyst >> no. it might be buying because the prices were below 30 and you have technical buying. you might have interest coming in maybe there will be an announcement maybe elon musk might tweet that he's going to be buying bitcoin once he gets on the move who knows what it's going to be. overall, it's not going to overcome this lack of retail buying coming out of asia that was there months ago it's a real problem that bitcoin has right now. i don't know if any influencer can overcome that now. they have short-term influence you can have these people coming in and tweeting and doing all sorts of things and that might be good for a pop 2000 here or there, but it's not going to overcome the long-term problem. >> speaki

later, we see jack dorsey apologizing. both of us have an enormous megaphone. doesn't have one is one of the plaintiffs that president trump -- she merely put up a video and was blocked and censored. this is giving a megaphone to thousands of americans across the country, and good for the president. >> emily: morgan, this is against the landscape of doj talking about new attorneys in the fight which they argued as a monopoly of these big tech giants. could this be a full frontal scale assault on these guys from all aspects of the public here, through all the forums possible? >> that's a good point, emily. when we look at the actual lawsuit, it'll depend on lawyers like you and kayleigh to give us the facts. i will tell you from a p.r. perspective, zooming out of the big picture and all of this, there is a monopoly on information by all of these major social media companies. and that is really, i think, getting to the heart of what seat in the stack met earlier. that former president trump is trying to address. whether the lawsuit is successful or not, i think t

and jack dorsey, is really pushing square and the developer space he has for bitcoiners there.trade short-term, july 2.50 equals the stock was 251 when i bought them i'll be in knows calls, scott, in the neighborhood of two days. quickly, boeing, yesterday, fast as well as ccl, both of them screamed higher. bam. cashed out >> all right, doc appreciate that avenue capital chairman mark lasry, the coowner of the nba champ milwaukee bucks. he joins us next across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9% apr financing on the all 2021 lexus hybrid models. experience amazing. >>> the milwaukee bucks winning the first nba title in 50 years last night, edging phoenix to win in six game

jack dorsey says bitcoin will play -- will be a big part of twitter's future.that for a while. i think it's still speculative. bitcoin this year, no question about it, how big part of twitter's future it is than any other company. the reason why it won't pop as much is snap going forward because the user growth is as strong, they grew 11% year over year despite a lot of feature and product innovation. the market's question, you put features, product improvements but we don't see takeoff for user growth, what gives. stuart: we have an audio problem. we will postpone next week. i have an important story coming from general motors. they have issued a second recall for their electric vehicle. this is not just any-old vehicle that they are recording for the second, i know, this is the bolt. i think that makes it a big deal. lauren: 61,000 chevy bolts worldwide being recalled so they can fix something with the battery module. don't park cars inside garages, don't charge them overnight because they could catch fire, recall number 1, recall number 2, for chevy bolt 201

. >> karen, that's a question, isn't it they have a pretty strong pipeline of innovation jack dorsey not afraid to experiment in public but are they able to monetize it >> well, deebo, a little bit of a funny thing. i just checked my notes it said trade. that's wrong that's my mistake. i wrote that, but i meant fade so i'm kind of with the general here you know it's totally made up that gap down it had after the disappointment of last quarter's earnings so if we're playing the advertising social media, it's a would you rather facebook. sorry about that that was my bad. >> a double fade, and yeah, i think certainly investors have been bidding up facebook despite all of the regulatory scrutiny and the headline we got. intel wraps up the week. down nearly 14% since last reporting. trade it or fade it? pat gelsinger and team, they reportedly want to make some big moves in the foundry business. >> well, deebo, i'm trading this as well, deebo that's a double trade and a double deebo, by my count that's about ten. listen, the struggles of the company are documented over the lat two years. w

as well as their ceos mark zuckerberg, siddhartha j and jack dorsey. three real nice guys. [applause] >> asking the us district court for the southern district of florida to order an immediate halt to social media companies illegal, shameful censorship of the american people and that's exactly what they're doing. we're demanding an end to the shadow banning. a stop to the silencing and a stop to the blacklisting, managing and canceling that you know so well. our case will prove this censorship is unlawful. it's unconstitutional and it'scompletely un-american . we all know that. we all know that very well. our filing also seeks injunctive relief to allow prompt restitution. really, restoration and you can name about 20 other things that it has to be prompt as it's destroying our country . by my accounts in addition we . are asking the court to impose punitive damages on these social media giants. we're going to hold big tech very accountable. this is the first of numerous other lawsuits i assume that would follow but these is this is the lead and i think it's going to be a v

past hour are closely watching comments today by three of the most influential people in crypto jack dorsey, elon musk and kathy wood the three are on a panel that i think is going on -- i just turned the volume off. hosted by the crypto council for innovation a lot coming out of this and a lot of topics. musk says that on balance he supports bitcoin but brought up the environmental impact of crypto mining. he owns bitcoin, etherium and dogecoin it's a combination of dogs and memes and talk about the irony of this becoming so popular. he also says tesla, of course, holds it -- or holds bitcoin on its balance sheet. another headline, spacex also owns bitcoin as well talked about some of the accusations musk has been manipulating prices. here's what he said about that >> i might pump, but i don't dump so it's not a case of -- i definitely do not believe in getting the price highs and selling or anything like that. so i would like to see bitcoin succeed. >> musk has gotten a lot of pushback from the bitcoin community after announcing tesla would stop taking bitcoin payments for tesla vehicles.

square is planning a new firm that's focused on bit coin that according to square and twitter c o jack dorsey he wants to create an open, develop a platform. he says to make it easier to provide the centralized financial services following the pattern for squares previously. and digital wallet, bitcoin and northern god is not harvesting season is a crucial time for many rural women who earn a living, making shape butter. but a search in multinational companies exporting the roar nuts is now threatening their livelihoods. i saw souk reports, i had a motor house and is among dues, profiting from my knee increase international interest in gun is not industry. he buys the produce from thomas, incense it on to mark national. this particular budget destined to be shipped to techie business. he says is with me as 820182019 across david. i supply more than $10000.00 to my company and $29.00 in 2020. i sell about 18000 metro dos. ganna is west africa, had largest exporter of the money and booking of us who during the countries not season many women get temper wake in the industry, have them installed

top that off with kathy wood and -- off with cathie wood and jack dorsey chiming in. e resilience is there. i think it's important to have fun, as well. any way folks can express themselves, that goes back to the main idea, how do we create native currency? anything that goes toward the path, whatever fun we can have along the way, that's going to make it a more enjoyable and people want to use it. emily: cryptocurrency trading around dirty $2000. joining us to discuss the outside influence of musk on bitcoin is met. matt, every time elon opens his mouth about crypto, it moves. what do you think it means, and is a healthy? -- is it healthy? matt: elon is an iconic leader and a smart person about the payment in fintech. so i think people are smart to listen to what he has to say. he has thought about bitcoin a lot. he sees its potential for the future. long-term, the story about bitcoin is more than elon musk. even the impact of these comments are bigger than just him. it shows that he was concerned about environmental issues. he investigated them. he saw that bitcoin i

. >> josh howie who is no stranger to pushing it back sent letters to mark zuckerberg and jack dorseyanding answers saying casual admission of collusion between the state and corporations that monopolize the flow of information is shocking. he then requested a full account of social media content flagged by the biden administration, and what was removed, this follows a trail of contradictory comments from doctor anthony fauci throughout the pandemic, he went back and forth on masks and herd immunity as well as working with facebook to downplay the. the covid 19 was linked from the wuhan lab. carley: we will have more on this later in the show. as the administration's big brother tactic spark outrage the wall street journal editorial board member kimberly stross offices this may come back to bite the white house. >> kind of remarkable, only this week we had the former president of the united states sued big tech arguing they violated first amendment standards because they were acting as arms of the government and here we have the white house and jen psaki giving talking points that see

including facebook, google and twitter, as well as their ceo's mark zuckerberg, sunder book j, and jack dorsey 3, we'll we're going to hold big tech very accountable. this is the 1st of numerous other lawsuits. i assume that would follow, but this is the lead and i think it's going to be very, very important game changer for our country or communication law experts and said today that the company did nothing illegal and they have called the trump lawsuit frivolous. let's go now to los angeles and bringing ethan ferryman. he is a us political commentator. he's a national and syndicated talk. radio hosts even. it's good to have you back on the show you were out there in california. that's the state where most social media giants call home. how is silicon valley explaining this lawsuit to itself? well, it's really simple. it's fundraising mechanism. and in a desperate seeking of attention by the former president of the united states, it's not going to go very far in the courts unless this new supreme court is going to do something really surprising and want to take it up to strike down. section 2

and then you have companies like twitter and people like jack dorsey that sensor like planet ponzi on twitter. anything that i say that they don't like. you'll notice i lost 20000 followers. and then you'll see that there's all this stuff going on that you can't tell because they set their algorithms. so you're kept out and a certain number of followers and they don't let you get the word out. what they do is broadcast or echo like an echo chamber. they repeat stuff, repeat stuff and repeat stuff they want people to hear. now i get at them as far as being out of band. but stan, dr. maler, paul tutor jones miko. burry, are screaming at the top of their lungs that the fed is a fraud. they're causing massive inflation. they don't think it's transitory. and they're putting the entire countries economy at risk. again. you know, michael murray is gone so far as to short us treasury bonds. i mean, that's traditionally as it worked, but this guy seemed to know what he's doing. i get the year being shadow band, but you know, it's alarming. i find it personally alarming when the government seem

giant including facebook, google and twitter, as well as their ceo's mark zuckerberg, sunder j and jack dorsey 3, we'll know we're going to hold big tech very accountable. this is the 1st of numerous other lawsuits. i assume that would follow, but this is the lead and i think it's going to be a very, very important game changer for our country or communication law experts and said today that the company did nothing illegal and they have called the trump lawsuit frivolous. let's go now to los angeles and bringing ethan berryman. he is a us political commentator. he's a national indicated talk. radio hooks even. it's good to have you back on the show you were out there in california. that's the state where most social media giants call home. how is silicon valley explaining this lawsuit to itself? well, it's really simple. it's fundraising mechanism. and in a desperate seeking of attention by the former president of the united states, it's not going to go very far in the courts unless this new supreme court is going to do something really surprising and want to take it up to strike down. section

kate rooney has the details. >> jack dorsey is building a new business dedicated to crypto, specifically icedecen finance, also known as de-fi dorsey naming the new and building this in the spirit of the bit counsel. speaking of bitcoin, robinhood and coinbase are going head to head in the trading business it seems like robinhood had a step up. robinhood sauce about 1.6 million new app installs in april. and coinbase did not off dogecoin trading in april. back in january, though, robinhood user on that app for an average of one hour per week. that fell to about 30 minutes in the second quarter and a big risk, guys, for robinhood as it heads into the ipo. elon musk on "snl" dogecoin rallies and gamestop >> tbd, the bitcoin desk, if they want to stick to those letters. >>> time for a cnbc news update. >> here's what's happening at this hour. officials from germany say the cleanup is underway even as the search for hundreds of missing continues. the death toll has risen above 125. >>> a survey finds occupancy rates went above 70% for the first time ever, a full 20 percentage points above ju

. >>> twitter shares are up, but not as much, after ceo jack dorsey explained his vision for using bitcoin to move faster for any products, including subscripses and tip jar. take a listen. >> there's a good amount of friction when you want to transact across borders, taxes, currency, different systems that work in one place or another so jack what talking about last night is the opportunity to use a door centralize the occurrency to overcome some of those challenges >> that was twitter cfo ned siegle explaining ceo jack dorsey's perspective on "squawk box" this morning. when it comes to concerns about the concerns of apple new operating s.a.m., they greed, there will be more impact potentially in the third quarter. guys >> julia, clearly twitter's gain through the day, the other stock that's gained has been facebook i get that's in part because of these results, even though we still haven't seen if its snap-specific, this strength >> well, look, i think there are definitely some consistent themes between snap and twitter. we also have a bullish analyst note we have that note given optimis

there will be an online the word discussion today featuring jack dorsey and crypto enthusiast kathy would. investors are looking for an encouraging headline. crypto up today. a big vote on infrastructure. the bipartisan $1 trillion package, senator mcconnell says republicans won't folk for a bill when they don't know what is in it. does that remind you of this. >> have to pass the bill so you can find out what is in it. stuart: it was irresistible, that is what senator schumer is saying and then we will figure out what is in it. on today's program, and comparing their flight to an escape from slavery. and to far left activist van jones and a celebrity chef. they can use that money for their own charities and spread it around. we will show your book authored by donald trump and signed to rudy giuliani which will sell at auction for 30,$000 or a lot more. it is wednesday july 21st, 2021, "varney and company" is about to begin. stuart: sixth avenue new york city. a bit more traffic beginning to pick up. it is better than july of 2020. a morning, everybody. check futures, mixed position, the

host: in respect to the hearings where jack dorsey and mark zuckerberg testified, or you invited to the hearings? how much access have you had to members of congress to make these recommendations that you have made this morning? guest: not at this point, we have not been invited. we would welcome that, of course. that is part of the argument, right, you have heard in hearing after hearing that the platforms are not doing enough to remove hate speech from the platform or doing enough to handle so-called misinformation. remember, with respect to the information, stte of this is legal speech -- information, most of this is legal speech protected by the first amendment. the only people who should have control over that are purely private actors. when you have this immunity and you have congress saying, hey, you better act using the benefit of that immunity in the way we see fit, other wise we might take it away completely, you have a state action problem. host: belleville, new jersey, harry, republican. good morning. caller: good morning -- hi, i don't know if i am mixing up apples and oran

jack dorsey says bitcoin will be a big part of twitter's future. i asked twitter cfo on how he sees crypto being integrated into the platform. primus or spain taps into the energy of the u.s. tech ecosystem and bring some of it back home. the prime minister's out of a meeting with tim cook. we will see what was on the agenda. all of that in a moment. but us get a look at the market s. what an end to the week. what are you watching? reporter: we started the week with all those variant concerns. not really evolving at the end of the week. a similar story. we start the day with a lot of rot market gains but evolving into a tech outperformance kind of day. s&p 500 down 1%. stocks drifting higher. a lot of that was responsible. tech was responsible for the nasdaq being up. what didn't do so well are those chinese adrs. chinese tech having their worst day since 2008. a plunge of 9% in one session. you see a little bit of money heading into treasuries. we can see money heading into semiconductors as well. you are starting to see that global chip shortage