and later, we'll be talking crypto with mike novogratz "squawk box" will be right back. most reliable 5g network, but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. >>> welcome back to "squawk box," hundreds of billions of dollars of stock value crushed many of those stay at home names and high flyers continuing to drop further away from their all-time highs the joining us now with reasons to perhaps remain optimistic and where to put your money, a partner at gray croft you have a little bit of optimism amid all this pessimism? where do you get it from >> i don't think you can be a pessimist and invest in these companies. so look, companies -- we need to be long term, right? so there's a lot of trends over the next five to ten years that we're still real

never, numeral, the founder of galaxy digital holdings, said don't try to pick the bottom -- mike novogratzsomer: dogecoin and solana have lost roughly 30%. you are looking at bloomberg now. anybody who bought into the crypto market in the last two years is either flat or showing a lot of red in terms of losses. shiba inu, acorn that was created as a joke, it is down 80%. analysts looking at previous bear markets have seen pullbacks of 84% from their highs. based on that historic level, that would be near 11,000 for bitcoin gave it were to follow this historic pattern. again, a lot of these bitcoin analysts are advising followers who remain optimistic on this is the future, to reduce their exposure for now. haidi: there is a new stablecoin despite what we saw, the collapse of terra. su: surprisingly it has not dulled the enthusiasm of one crypto entrepreneur. he is out with a new law-based stablecoin that he says is offering a yield of 30%. you are looking at the project that was known as terra. terra usd and its sister token luna lost a lot over the weekend. there is a lot of scrutiny on th