kate rooney has more on the policy and those offer who just don't like it. the ceo wants his employees to know they're in the cryptocurrency business, not the business of social activism. he made the view clear this week armstrong says coinbase won't debate causes or political candidates internally and will not engage in things unrelated to the core mission. he points continue to ternl stri internal strife at other businesses that do engage in these issues he offered them about four to six months of sefrverance if th decide to quit because of that new policy he said life is too short to work in a company you're not excited b the pack ablg helps create a win-win for those who leave. coin bs das stance is an outlier where most tech companies embraced the causes during protests over racial injustice it is sparking big debates in the tech community twitter and square ceo jack dorsey saying the policy leaves people behind. he says it's important to at least acknowledge the societal issues that customers face daily h dick costello said it's an ab did he indication

bought some bitcoin, the fed has talked digital currency and paypal is jumping in let's get to kate rooneypto launch could be a boost for paypal analysts have morning pointing to square's ability to monetize bitcoin trading since launching a couple of years ago. jack dorsey's payments company started offering crypto trading in 2018 and so far it's been paying off last quarter executives say that users who buy or sell bitcoin are two to three times more engaged than users who don't bitcoin revenue topped $875 million. that is up 600% from a year earlier. still it only makes up about 3% of square's total revenue. paypal is saying the crypto product will be available on convenient mon venmo and analysts say it could be a boost to push the app toward probability analysts say based on paypal's spending it's still not breaking even both apps are competing to become the one-stop stop fdigita banking, but square clients are using the app more it's about 150 times per year, versus paypal users at about 45 times per year paypal stock did get a boost and bitcoin is trading at the highest level since

kate rooney with the latest on stripe for us.om. >> all right, kelly, check out this mystery chart the stock is up 450% in just six months and it's part of a group many people are betting will go even higher if joe biden wins the election take a look at that charlotte. "power lunch" will be back after this stay restless with the icon that does the same, the rx crafted by lexus. lease the 2020 rx350 for $409 a month for 36 months. experience amazing at your lexus dealer. ♪ ♪ "hmm's and ahh's" heard in-call. ♪ >>> welcome back to "power lunch. the biggest solar ipo of the year array technologies, is up more than 50% in its first dave trait trading. the whole group has been soaring. invoesco solar etf, tan up in the last month alongside a rise in joe biden's polling numbers the graph we showed you just before the break belongs to sun run one of the best performers in the solar space so far this year it is up 360%. for more, let's bring in joseph osha from jmp securities let's talk about whether or not this optimism has priced in eve

kate rooney joins me now with more kate >> hey, kelly.re turning to the dark web where brokerage account loggins are for sale for as little as a few dollars. your average person can't access these sites without special software, but security analysts gave cnbc a tour of the dark web. we saw dozens of portfolios listed from t.d. ameritrade to vanguard with balances from a few thousand to half a million but accounts on stock trading app robinhood were listed with the highest price tag. analysts say that premium is likely due to perceptions that robinhood would be easier to hack, and criminals are thinking that if they buy those credentials they are more likely to cash out. robinhood telling cnbc there have been a limited number of hacks on that platform this year, and they are rolling out new security practices just this week, including two-factor authentication and encouraging stronger passwords kelly? >> you know, it's interesting, kate, because even as hackers are going after these accounts, robinhood, users themselves on robinhood were

spending improved in the quarter because of strong online transactions growth let's welcome in kate rooneyd to the ceo this morning. is this an encouraging se ininir the economy? >> it's interesting. the amex quarter was a travel story. everything outside of travel and entertainment was actually pretty good. jeff gamble mentioned it was flat it was really up about 1%, helped by things like retail and ecommerce. he did say, though, consumer travel needs to bounce back before amex can get back to those pre-pandemic levels. and then he mentioned business travel, which was by far the weakest. but it's funny, i thought of amex as a business travel company. it only makes up 6% of the revenue or was before the pandemic he also said that could take years to recover they're not expecting business travel to really get to where it was before the pandemic. >> jon fortt, what would you add to all of that >> i would say we need to get airport barbie and give her a black card >> tekelly, i -- >> go ahead. >> kate said that maybe she thought this was maybe a business travel card but to me, amex is still m

, the patriots of course an niners handed them one of their worst home loss is ever kron four's kate rooneyoins us. now with not last year's patriots. this is a different a jets team they look very different and they even look different at the end of the game after they've been scammed newton because the 49 ers were able to pretty much dismantle that team they won 33 to 6 and that was the worst margin of defeat for the patriots in foxborough. >>since bill belichick has been head coach, you know felt good for jimmy garoppolo to be able to show his former coach and former team. what they missed out on, but even though jimmy g had a great day going 19 for 33 for 259 yards and 2 touchdowns san francisco could have done it without the ground game. jeff wilson junior became the latest running back to shine and kyle shanahan's scheme. he had a 112 yards and 3 touchdowns on 17 carries. he did leave the game with a high ankle sprain though and kyle shanahan said today. wilson is likely to go on injured reserve list later this week. acosta was also impressed with his team's defensive performance and

for an explainer on that, kate rooney is with us with the ceo hey, kate. >> the new etf is paying a dividend every friday instead of every quarter. ticker, tgif joining us now is anthony noto thanks for being here. how do you match up wh wha is a quarterly dividend with these weekly distributions are you holding onto the cash and then dribtsing that and what happens to the money in the meantime >> sure, with sofi invest in the products we're trying to differentiate on selection it's the only place you can buy stocks without commissions our objective with this particular etf is to continue to give our members access to investment in vehicles that are right for them give them access to things that are differentiated most etfs have dividends on a quarterly or annual basis. our view is that's sort of driven by old thought processes and philosophies why can't you pay on dividend frequently the money is there we're going with a higher frequency payoff sort of like your income from your paycheck. >> just to clarify, you get that dividend every quarter and you're paying it out to the customer on a w

kate rooney has more kate >> tyler, coin base is lose being 5% of its work force due to the ceo's newrmstrong, head of the cryptocurrency company made waves early in october after saying coin base would not engage quote unrelated to their core mission that of course includes politics and social activism. in an email update to employees last week armstrong saying 60 people took the offer to leave with a few months of severance if they didn't agree with this new policy he said there is still a handful of quote other conversations on going. he says the company will emerge as quote more aligned and it was a chance to rearticulate and clarify cultural norms he acknowledged some of the lines are blurry and asked that employees use good judgment. the goal he says is not to look for violations but to support employees in adapting to these clarified expectations n. a tweet, armstrong responding to questions that the 60 free agents could now go off and start competing companies. around strong saying he supports it and he would love nothing more than for there to be more crypto businesses. byes

. ♪ >>> amazon's primeday a big deal but some alternatives are emerging kate rooney has that hey, katers are pouring into another e-commerce name, shopify. they help merchants take payment and set up thur own website. the stock is one of the biggest winners during the pandemic. take a look at shares year to date 175% up. that is by small businesses quickly moving to sell online during the pandemic and, of course, a rise in e-commerce the merchants brought in record sales this year. last quarter the value of goods sold on shopify grew about 919% year over year for the highest mark ever. that was almost 50% higher than the previous record set during the last holiday season with the fourth quarter in 2019 the holidays are historically a boost for shopify and the rest of the e-commerce giants thanks to the stock's runup this year, analysts say a lot of that success is likely priced in. the stock is way ahead of the record sales price to sales ratio is nearly triple the five-year average if if you compare it to amazon, the price to sales ratio is about 12 times higher. morgan stanley is wai

kate rooney has more. >> hi tyler.t back around where it was when it crashed in 2018 in the past week bitcoin added more than 19 merchandise to its market cap a few catalysts are driving the rally. square said it was adding $50 million worth of bitcoin to its balance sheet. we also had paul tudor jones on cnbc last week calling it the best inflation trade comparing it to an early investment in apple or google. brian kelly of bkcm highlighting something else interesting from the firm jp morgan's popular weekly report flows and liquidity featured bitcoin in the past two weeks. he says that could be a sign of more mainstream investor interest this year, its prices will be closely correlated to u.s. equities the trend broke in october as stocks sold off this week. look at bitcoin. it's up 14%. oak back you >> what do you think is this move in bitcoin fragile, as we have seen it before? but i keep hearing more and more people talking about bitcoin and gold and these are respected reputable portfolio managers >> think of it

. ♪ >>> jack dorsey's company square buying $50 billion worth of bitcoin, the question is why kate rooneye >> we don't see this from companies every day. square's $50 million investment in bitcoin represents roughly 1% of the total assets in the second quarter a few reasons though square is doing this first, too diversify similar to why any investor might buy buitcoin given the evolution of crypto, if you get the right time to expand square's u.s. dollar dominated balance sheet. and to make a meaningful investment in bitcoin. they see it as a tool for economic empowerment it gives people around the world that live in countries with less stable currencies, a shot in participating in the monetary system this is a step in furthering the company's mission as well. all this is really driven by square's ceo jack dorsey who, of course, also runs twitter and is it one of the most well known bitcoin advocates. dorsey's predicted it will become the world's single currency and the currency of the unt net. dorsey pushed square into launching bu launching bitcoin trading ahead of 2018. square also ded

well, security experts are now warning that fast payments can equal fast fraud kate rooney is live inalley on this kate, what's the most important thing people need to know when using these payment apps >> reporter: hey, shep these finance apps like you said have become really popular in the past year as alternatives to traditional banks, but people should know they're often more vulnerable to hacks. we've also seen more mentions of the terms fraud and scams in their app reviews. zelle run by a group of big banks is going in the other direction with fewer mentions. criminals see some of these apps easier to break into tweeting about the cash app or venmo could be bait for a hacker to target your account so be careful what you tweet. >> where are we seeing the biggest concern about this from users? >> shep, it's about customer service. not the first thing you might think of when you sign up for an app. but if you suspect somebody took your money, you want to talk to somebody pretty fast with these finance apps, they say your only option is filling out an online form and getting in line

. >> that's such a quickly evolving story, kate good stuff kate rooney joining us on that when we come two days not fast enough for your delivery? how about two hours? we'll talk to a company who is behind a promise like that the dow is sharply negative, mnuchin saying a deal on imusefe e econay be difficult ♪ ♪ ♪ ♪ ♪ ♪ this was the theater i came to quite often. the support we've had over the last few months has been amazing. it's not just a work environment. everyone here is family. if you are ready to open your heart and your home, check us out. we thought for sure that we were done. and this town said: not today. ♪ >>> the treasury secretary on his continued talks with speaker pelosi on stimulus although he adds that a deal before the election now looks a little difficult. stocks have taken a leg lower on that we'll watch that. retreating from positive teity. a lot more "squawk alley" continues in just a moment plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare yo

criminals are now targeting retail investors by hacking into those popular trading apps cnbc's kate rooneyas details on which app gets the highest price, kate, on the dark web. >> hi, sara. hackers are turning to the dark web where these brokerage account log-ins are for sale for as little as a few dollars your average person can't access these sites without special software we receive aid tour of the dark web. we saw dozens listed from td amertrade to vanguard. accounts on stock trading startup robinhood were listed with the highest price analysts say that could be due to perceptions that robinhood would likely be easier to hack and criminals thinking if they buy those credentials, they're more likely to cash out. s.e.c. warned against these cyber attacks and recommended that additional steps be taken to protect client accounts work from home and a boom in day trading. robinhood telling cnbc they've seen a limited amount of attacks this year and they're rolling out pushed notifications, reminding people to use two factor tho authentication and stronger password. >> is that the dollar pric

. >> kate rooney, thank you. >>> still ahead on the show, carlyle group cofounder david ruben stein joinsto share his perspective on the rising covid cases and their equity on equities. >>> right now, yields moving lower, buying the safe haven bonds, the ten year yield, .8% still well off of the lows we wegoa few months a 'll be right back here on "closing bell. - [narrator] at southern new hampshire university, we're committed to making college more accessible by making it more affordable, that's why we're keeping our tuition the same through the year 2021. - i knew snhu was the place for me when i saw how affordable it was. i ran to my husband with my computer and i said, "look, we can do this." - [narrator] take advantage of some of the lowest online tuition rates in the nation. find your degree at snhu.edu. >>> welcome back 31 ips minutes left of the strayed. dow is down 731 points the s&p 500 isdown over 2% utilities have just gone green every other sector is red by at least 1% energy, industrials and materials hit the hardest. three things driving the act rising coronavirus cases in

visa earnings are also out let's get to kate rooney. >> slight beat on revenue for visa net revenue atn, better than expected that was still a drop of 17% year over year adjusted eps, 1.12 we don't have a comparable number for that just yet cross border volume was down year over year, that higher margin, more profitable area for visa and other card companies. total volume was up about 4% year over year the company is not giving guidance for 2021 due to the covid uncertainty. guys, back to you. >> thank you very much let's go to ford earnings. they are out as well phil lebeau with those numbers phil >> a beat by a wide margin ford earning 65 cents a share in the third quarter. estimate for 19 cents a share. revenues better than expected at $34.7 billion. it's the one/two punch of strong demand especially for trucks and suvs right now. we reported on that extensively. it's not only that those vehicles are in demand it's the pricing these vehicles are selling close to record high prices. put those two together and you've got for the record beating the street by a wide margin, earning 65 c