nft's, you have to look at the metaverse as well. how do you apply nft's in life?it is just on screen. i left browsing it and bragging on the phone, but eventually, when the metaverse's are fully built, if they are proprietary or they are the decentralized metaverse, these works could be housed in a virtual home. yvonne: the whole concept still blows my mind. there's always the question about china and the buyers there. given the crypto is an outlier -- >> china has its own future of developments. there's a strategy in terms of building blockchain and also big data as resources is key. maybe some technology or ideas adapted from ethereum, but china will have its own smart contracts. there will be a cross race, perhaps, that if you want to sell the nft from china and by from hong kong, you need to calculate very quickly and then convert it. for businesses who are watching, they have to be very careful if they want to participate in the metaverse to be considering these things. rishaad: we have christie's, for example, taking bitcoin as payment, and you will as well,

>> what sets us apart is the usage value of nft's.n a lot of projects growing around the collectible value of the nft's. for us, it's all about what you can do with nft's. we have this fantasy game. we have been growing consistently in terms of sales. we expect to do $700 million this year. i think that makes all the difference. what you can do and you can engage and retain the funds because of the experience you have. emily: now, you just announced a partnership with mlb and the players who don't necessarily always agree. how did you convince them to get on board and why baseball? >> they asked us three big questions. the first one is are you the best to help us grow into fantasy? we have proven where the best place to build up. question number two was are the best to help us grow the audience. we are sitting in 180 countries. we are going to help the mlb to grow their reach again overseas. the third question was are you the best to provide the best experience? we are building in the u.s. with people coming from companies, so we are

bill swooped in and bought a team which is buying all the nfts, all the fire tier nfts.wners and this is a great transaction for the league, for dogecoin, and it's just been great to be in this position. maria: yeah. i mean, bill, i like what you said in the press release, saying while others are buying nft i'm images of apes and owls, i believe nfts with utility are the next frontier. you purchased all 25 fire ntts for the alien teams via dogecoin, the largest commercial transaction of dogecoin in history. why did you do it and why do you want to be part of this? >> well, first, i mean i think what cube is really doing is bringing the power of web 3 to the big 3. and so in that sense, it's like true utility instead of just buying art. and so with utility, it makes it so that he's turning the team owners into developers. and so that means that as a team owner, anyone who purchases our nft, we can create custom experiences and apps for our user base and so we can create like a virtual gym and the only people take can enter that gym to meet with our team players could be p

where players can earn nfts or i players can earn nfts or non—refundable tokens in cryptocurrency. philippines. people are working, playing a game for three hours a day you can essentially hire out your nfts to other countries and is an exchange with investment for someone else to play the game in the time. someone else to play the game in the time-— in the time. the transition from gaming _ in the time. the transition from gaming for _ in the time. the transition from gaming for fun - in the time. the transition from gaming for fun for. in the time. the transition - from gaming for fun for gaming to crypto doesn't feel like a big leap for many and along with at base training, entry into this virtual world has real money consequences. but cryptocurrency is, nfts and other digital assets are still in their infancy and unregulated, meaning there is little consumer protection. it's also difficult to financial advice because traditional experts see many in that world as gambling. it is a world that can suck you in. some of those who get hooked end up here, therapists say young and in p

believ in nfts.n one are of these apes, but i can put it up on my profile picture. why pay for one of these things. how do you view what elon musk pointed to >> i'm not sure. elon's got his finger on the pulse. and's one of the big projects no the nft space. ki take a picture in front of a lamborghini outside. doesn't mean i own it. i can take a picture outside of an apartment in manhattan, doesn't mean i own it. the blockchain is a ledger that shows ownership. this is what always happens when there's big technology changes just by clicking or putting a picture doesn't mean that you own it, just like in real life >> right then again, you have to separate, eventually separate the wheat from the chaff >> yeah, that, that is the far more interesting point, everyone who's watching this knows in '97, '98, '99, 2000, wall street gave outrageous, obnoxious valuations, because they sensed that the internet would be one of the biggest shifts. but it did not make sense, and over the last 25 years we've seen th

corporations dropped onto the nft band wagon. they've released their own nfts.lose it. one of the reasons given for the fall in interest and prices of nfts, you talked about it with charlie, is inflation. that's up. as the fed fights inflation, which they do by raising interest rates, it makes any risky investment like tech companies or bitcoin or nft more risky. people are like let me back off. >> bill: we have ntfs and we'll make millions. >> dana: they'll go in the crash. >> birthday girl. we should have made an nft of percy. >> dana: i think johnny did. >> bill: the headquarters of the wisconsin pro-life group set on fire over the weekend. what the white house is saying this morning about that. a baby formula shortage is getting worse. we'll talk to a mother trying to feed her own kid coming up. ♪♪♪ ever wonder what everyone's doing on their phones? they're banking, with bank of america. the groom's parents? they just found out they can redeem rewards for a second honeymoon. romance is in the air. like these two. he's realizing he's in love. and that his dat

you can watch "nft's "enter the metaverse" wherever you stream.'s check in with spencer christian. give us some good news. spencer: it is going to get even warmer going into next week. it will feel like nate -- late summer. pretty breezy, of course, a pattern we've become familiar with. when speeds up to 33 miles per hour in san francisco. gusty in some spots, as well. you can see the camera is bouncing in the breeze as we look out towards alcaraz -- alcatraz. 79 in san jose. 55 at half moon bay. looking towards mount diablo come into the inland east bay, quite toasty, but we are looking at temperature readings, 90 at fairfield, concord, 83 and 84 degrees. one more view looking down to the bay, a little bit of san francisco. these are our futures, mild to warm. summerlike heat will grace us tuesday and wednesday, and it will cool down sharply next week. overnight, some fog forming along the coastline, pushing and across the bay, and beginning to burn away by early to mid morning, giving us another sunny day. overnight low temperatures will drop in

this op-ed rips into the nft and crypto markets.people who engage are playing stupid games to win stupid prices. brock, that's a real takedown, certainly of the nft market, what's your response? >> any time that you have a new market and there's this much value being created, it attracts the best and the worst of society. and there is a lot of activity within the nft market that's not going to withstand the test of time but that does not mean that this technology isn't real and doesn't have a very important role to play in the future. stuart: the technology is not up to the job. that the atherium, i don't want to get into this particularly but the point in the times is the -- the technology suspect id enough yet. >> that is true in terms of the market has been built on atherium and etheroeum has fees that are not sustainable long term and have upgrade to etherium 2.0 and correct the fee structure but if you look at the market today, i agree with that point. it is unsustainable the fees are too high and the market's promise will neve

something that you would look into, the use of crypto and nfts within the gaming platform?ll, we haven't done anything yet with nfts we selldigital goods and our consumers love them. an nft is simply a digital durable good so i think that's pretty exciting at the same time, we want to make sure that we're not asking our consumers to speculate there is this overhang of speculation of all things crypto and all things nft so do i believe there's durable opportunity for nonfungible tokens going forward in the interactive entertainment business i do i want to make sure it's in service of a great entertainment experience and also in service of treating our consumers fairly >> all right strauss, we'll leave it there. it's always great to speak with you. thank you. >> thank you for having me. >> strauss zelnick of take-two. >>> let's get a check on the markets with the dow higher by 1.9% that's 600 points on the dow s&p up by 1.7% nasdaq composite up 1.3%. >>> up next, mike santoli breaks down the latest ceo confidence data and what they could foretell about a possible recession in

a big part of normal culture to be in this metaverse and to be trading nfts. is not just for collectors or for artists that collect. it's going to be a way we trade. that's that's like black mirror stuff. going to be so normal. fascinating nft's enter the metaverse gives an in-depth look at the gold rush hysteria and growing popularity surrounding nfts a featuring celebrity interviews with paris hilton mark cuban of abc's shark tank entrepreneur gary vaynerchuk and many more you can watch nft's enter the metaverse right here on abc 7 tomorrow at 9 pm and wherever you stream, but stay here with us back in a moment. did you know that renovating your kitchen and bathroom is one of the best ways to increase the value of your home? i'm mike holmes here with ivan from agm renovations america's kitchen and bathroom renovators thanks mike! we make kitchen and bathroom renovations easy for everyone. we quote and design each project and help customers select all finishes without having to leave their home! wow! agm are the only kitchen and bathroom renovations specialis

i have the nft.llectors in the first instance it is valuable but there are use cases in things like supply chain. how do you know where a particular potato came from? i think those kinds of use cases flow from this first wave. tom: great stuff. a fascinating story. thank you come bloomberg's mliv eddie van der walt. surveillance early in addition is up next. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa. >> my guess would be that the fed is going to need to go further. they're going to be up to the five range to get inflation meaningfully down. >> in the near term, inflation is high. it carries its own risk of

maybe we need to create an nft of this i guess. what's next.t took a spill border air force one this morning? no. he did not. >> i don't know if you get many takers on that nft. but laura, his feet may have avoided disaster, but his tongue sure didn't. >> is delaware in the house? anybody from delaware? holler loudly man because i want to see you after this is over. >> i've been to -- i didn't want to make you stand. i'm sorry. the whole point of my raising this is, and we're not going to be able to talk much about it today, but conservation. you know, we have no plan, they have no plan to bring down energy prices today. >> i would make the argument that biden speaks more truth in his stumbles than when he actually reads the copy cleanly laura. you were talking about earlier, the president is now pushing to lift those tariffs on china. in an underreported story, cardinal joseph zen of hong kong tireless voice for freedom and religious rights was arrested by the ccp this morning. so the white house called for his relief. biden said nothing, ditt

. >> the answer is nft. the prize for getting it would have been an nft of a monkey that would have had you set for life. we live in a very dumb, dumb, dumb world. >> no love for nft's, the beanie babies of the 2020. time to bring it home in our bonus round. >> who said i don't think i'm qualified to answer this when then president trump asked him what he should do about north korea. who said that? >> pence. >> mike pence. >> mike pence. >> you are giving donald trump way too much respect to think that he would ask an actual politician a policy question. think much less qualified. >> he introduces himself like this, my name is >> rupaul. >> rupaul actually is qualified to answer north cor yavment have you seen drag race, breaking up arguments-- arguments, dealing with egos, disappointment, success. >> no. >> think about the least qualified person that could answer a question about north korea, a person who said to trump i'm not qualified to answer that. >> kid roc. >> well guess what. >> it's kid rock. >> no

haidi: part of the plan is to sell housing and hotel units across 100 nft.nancial inclusion? or does it just fade into another asset class that is speculative? and are you worried when you look at the crypto crash? poman: metagreen is meant to be a green ecosystem that will positively harness blockchain, nft sent tokenization to power social impact. we will initially selloff 100 nft's to promote financial inclusion in the most expensive real estate market, hong kong. in hong kong, owning real estate is almost an impossible dream. to own virtual real estate, you can buy sandbox, which is going for 10,000. we want to introduce residential units for sale so someone can own a mega estate for the fraction of the cost. we are bullish on the long-term of metaverse developments. this is a great way to make a long-term investment with an amazing upside. there are other things we will offer such as nft art, digital jewelry and fashion. we will be featuring innovative crossover collaborations between our retail partners for concerts , hotel room decorations, customized

you can catch nft's: enter the metaverse tomorrow at 9:00 p.m. and wherever you stream.at we need to become familiar with. dion: i cannot wrap my head around the concept of it, i need to see and touch and feel. i don't know about you. mike: can you see, touch, and feel the metaverse? [laughter] i know what you meant, all joking aside. it is interesting and complex and a hope to watch it soon. let's talk about the weather. temperatures are going to be cool at the coast but comfortable everywhere through 9:00, low to mid 60's, put on the jacket if you are going to be outside. 6:00 tip-off but if you had their earlier, there could be a traffic jam because we have this, 68 degrees dropping to 58 at the chase center but also up the road, 7:15 first pitch, 63 dropping to 58 degrees. look at this shot of the coast. the air quality is not only good, it is going to remain that way. a gorgeous sunset. temperatures falling into the 60's during evening hours. tomorrow, maybe a little milder. 50's at the coast, the rest of the 70's. check out that beach shot. there will be a few clou

given the nft market, where they are not related at all imagine you tried buy one of these.pull that market. >> great question, there was a time when people thought nft owners would create new owners. those have just tanked these warhols and picasos. it only takes two billionaires who would want these there is so many parts of the art market, nfts one of them that became so leveraged and speculative. again under these masterpieces prices got crazy, so they are going to come down looking forward to see you tomorrow with the results of this auction becky. >>> still to come, reddit cofounder joining us to talk technology, crypto and much more >> at 8:00 a.m., catch neel with >> at 8:00 a.m., catch neel with usgame plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. >>> check it out the yield on the two-year note we've seen the push significantly higher in the

it is the nft craze over? thank you for having me i hope it's over just like you i'm not surprised in fts are down so far they are in a completely different category of investment in something like bitcoin. it is like comparing the internet to a series of art websites, so much speculation when it comes to in fts they require lots of liquidity and buyers who believe the future buyers will pay more for the nft and always caution people with investing in that space, is very different from bitcoin. >> the gambling chips as far as i'm concerned we have bitcoin, elon musk says bitcoin is a liquid alternative to cash, is that all it is? is that all you get into it, it's not much of a hedge against inflation, you cannot do transactions with it, is that all that is and alternative for cash customer. we seem bitcoin as a savings technology that's ever been invented, everyone is recognizing the long-term value and short-term volatile but a long-term story value, elon musk is recognizing that joe rogan and i agree with th

stop every bouncing axie is, in fact, a non— fungible token, or nft, a unique piece of digital data thatsents ownership and value. stop and every drop of smooth love potion is a unit of crypto currency, or digital money. stop both exist on a blockchain, an online ledger thatis blockchain, an online ledger that is stored on computers around the world and is protected by powerful cryptography. making assets and love potions digital assets that can be owned and traded incentivises players to take time and money on the game and as they are exchangeable assets, assets and love potion can be traded for other crypto and traditional currencies, such as dollars. every time this is done by its millions of players the game �*s owners charge a fee, turning play into a highly efficient way of making profits. many think that the fusion of play and work in virtual economies like axie infinity is ourfuture. and a new business opportunity for the philippines. other countries have silicon valley. in korea there is samsung. in vietnam a lot of people are creating new technology. so in the philippines we wa

. >> we had the anniversary of the reddit we talked about the reddit trade and nfts and acronyms.n a lot of that which was flowing. the first tweet went for a couple million >> now spacs >> all of those things that's what he was talking about. >>> let's talk to veron. he is a technical guy. worse month for the nasdaq since 2008 according to the next guest, it is not over yet. here to break down the technical terms is chris varrone chris, is it about charts or sentiment in you haven't seen blood in the streets yet we are down quite a bit. you don't really read about it as much as we have before with the put call ratio bullish or bearish are all those things registering complacency for a decent bottom? >> joe, that is it the market is driven by sentiment right now. we are still in the process of ridding the market of all of the built up complacency that has been present the last 20 or so months we are in the confessional booth, but not done sharing all of our sins yet. this takes more time more put call ratios they are rising, but not extreme. we still have yet to see vix above 40 y

type stuff >> no, nft's can't be issued on bitcoin.y simple system, relative tamost of crypto. bit it is coin transfers value and in particular transfers high value at a very, very, very low cost you could transfer billions for a there or two in cost and that's what it does well and the scaling technologies, like the lightening network in bitcoin will allow us to, instead of paying visa and masturb card 3%, you can move money through maybe only one intermediary instead of five or six, which is what happens when you use a credit cart. and the cost and the speed and the efficiency are going to go way up we're at the early stages of that >> i get that but to me it almost sounds like arguing for the overall benefit of cloud technology and therefore, what the price of an individual semiconductor might be why does the value of the bitcoin because the technology it's delivering is so high >> bitcoin is the only truly decentralalized digital asset and it's money that has no issuer because it is decentralized, eno one is going to be able to cha

. >>> and the world's first nft museum has opened in seattle. several exhibits are in the works.aims to show people what nft art is, how to create it and collect it. >> it is just a contract that shows the ownership of an asset. it is getting used for digital art because there hasn't been a space for it. >> some works sell more millions of dollars. he just explained it and i still don't understand it. >> someone has to explain. >> feel like i'm missing out. >> it is interesting. >>> in the next half hour. >> hundreds of people hitting the streets across the bay area in support of abortion rights. why demonstrators say that they feel compelled to speak up. >>> and mother's day just four days away. the two moms whose bond is unbreakable and the heartfelt story of what brought them together. >>> and researchers testing new technology to make indoor air as safe as outdoors. how it could be a game changer. >>> and a live look from our mark hopkins camera. a beautiful shot as the >> tech: when you have auto glass damage, trust safelite. this dad and daughter were driving when they got

i just, like, i'm working on my podcasts, my nfts, my art show, my merch line. >> reporer: her latestlic hotel in new york city's lower east side. in the form of a chic gallery opening where anna's art is for sale, displayed by runway models with a cat burglar vibe. what do you say to people who say, this is just anna delvey's latest grift? >> i don't know, i really don't care for people who are, like, doubting me. i don't know, they should wait and see for themselves. >> if there's anything that has stayed the same about anna, it's that she's a total chameleon. she did well on the upper east side, she did well in prison. she's now doing well in the art world. >> you know, i think it's real art. i would own an anna delvey original, you know? i mean, i probably can't afford it, but if i could, you know, i would definitely have it hang in my living room. >> i definitely think she's not going away any time soon. >> yeah. >> i wouldn't be surprised. >> reporter: anna delvey, legal name anna certiserikon, has bee subject of tabloids for years. running in new york city's elite social circle

what helps the company is innovation and trying new things , and nft program and all those other thingst he's doing. i think the regulators have been so all over him that he is spending more of his time talking to them than running his company, and i'm very concerned. liz: is there anyway that you see coinbase suffering a bankruptcy? >> oh, god, no. no, that's a ridiculous thought. i mean, even in a down quarter, i mean, they lost some couple hundred million dollars, which seems like a lot of money, but it was, they've got 7.1 billion in cash. they are fine, and when things get better, they will be back to just printing it. liz: there was contagion. bitcoin wavered and really started shaking, went down below 30,000, went to about 25,000 and change. where do you believe bitcoin ends the year? >> well i've predicted four years ago, as i did before with you, by the way, and i nailed it , 10,000 in three years, 250,000 by the end of this year or early next year, bitcoin is going to soar, and i think it's one of those things that we've got and speculators were in there, and a lot of traders

yeah, the nfts are coming down i've been skeptical because of what elon musk said today.y seem fungible you copy and paste them and you didn't pay for them. >> they're like jpegs >> to be clear, i think they're going to be huge, but not in the form they are today. >> you're missing it it's about community >> the land grab sale went up the other day. i got a question for bk, though. so part of the bitcoin story was the adoption of institutional investors needing to have exposure there is that that still the case? is that played out >> it's absolutely still the case because if you look at the institutions have barely come in, right? you have barely any pension funds, barely any major sfu institutions however, you are also getting macro funds in there which are trading it as a proxy for fed q liquidity. that's the dynamic right now the long-term trajectory for bitcoin is still wildly bullish. a rht up next we have your final trade. (vo) verizon is going ultra! with 5g ultra wideband in many more cities, you get up to 10x the speed at no extra cost. plus six premium entertain

my nfts are available on my website. and now we have a few of the nfts. towards education providing education opportunities for foster care children who are aging out of foster systems. nearly 20,000 children are aging out of foster care a year. and now we have 407,000 children in foster care in america today. so i will be proudly granting scholarships to the children to students who deserve it. >> pete: your first scholarship recipient, how about me surprise, surprise them together? if i give them a call and he doesn't know you're here. michael. >> yes, sir, how are you? >> pete: share your story in the foster system. >> i was born to a single mom and i became a foster child living in a different home until i was 17. >> i know you are aware of the scholarship you are receiving because of melania trump and the foster that future initiative. what does it mean to get that kind of scholarship? >> it is literally a dream come true. >> pete: let me just do it. she is hearing what you are saying right now. if i may, the first lady of the united states. >> thank

the creator of the popular yacht club nft launched virtual land over the weekend that crashed the blockchainite. users scrambled for 55,000 parcels of land stop global news, 24 hours a day on air and on bloomberg take -- quicktake. this is bloomberg. ♪ ♪ >> we are doing everything enforceable on the battlefield but the diplomatic front to stop this war as soon as possible. is this war was started with russia, it has to be in the eye russia we really hope they will make that decision faster. jonathan: the ukraine ambassador to the u.s. on abc over the weekend, from new york city, equity futures look like this -- it was an ugly month of april. crude is negative and about $.90 but a new sound out of germany. lisa: country finance minister saying an immediate russian oil embargo is possible. we just learned last week that germany was not going to stand in the way of a wider european embargo and they were prepared to back a gradual reduction, not necessarily immediate step kailey: that's an interesting change of tone but it's no longer germany that has stood in the way. the focus has shifted in h

the nft market is growing rapidly and we are seeing great appetite for nft's in the art and culture space four out of five of the top countries are from apac. we are seeing a lot of demand for digital artwork in china, singapore, hong kong and the philippines. we are proud to be showcasing artwork from artists from these parts of the world, across asia at art basel hong kong and at the tezos exhibition this week. shery: it says you are an energy efficient public blockchain. how so? katherine: energy efficiencies are based on the design of the consensus mechanisms. each they are one blockchain. for tezos we are based on proof of state model. that is the same profile of state model -- ethereum is also looking to merge into. tezos has gotten lucky because as an ecosystem, we have been working with this design from day one. haidi: when you watching the drama, what does that debacle tell you about digital asset ownership and some of the risks for investors? katherine: i think we need to make a distinction between collectibles and also art being displayed at our basil example. the collectibles

there wasn't a lot that didn't sell >> except for the nfts thank you. >> except for the nfts, yep. >>ting to gains for stocks but not enough to erase this week's losses so far, the dow down by about 2.9%, almost 3%. the s&p is down by just over 3%. the nasdaq composite down by 3.5% guess what, we're looking up this morning and we're watching shares of amazon this morning, too citi has removed the stock from its focus list but citi also says that macro economic risk has already been priced in. and that it still rates the stock a buy. to stock is up by about 1.5% this morning. we'll be right back. miss allen over there isn't checking lesson plans. she's getting graded on her green investments with merrill. a-plus. still got it. (whistle blows) your money never stops working for you with merrill, a bank of america company. ♪ ♪ i came, i saw, i conquered. (all): hail, caesar! pssst caesar! julius! dude, you should really check in with your team on ringcentral. i was thinking like... oh hi, caesar. we were just talking about you. ha ha ha. yeah, you should probably get out of here. not goo

and i would say from what we see in our own nft and crypto-related activities, there still is a hlotwhat is to come. >> we got to go. we want to wish you a terrific weekend. i want to ask you, that piece of art behind you, which may be a digital rendering is what? >> it's not a digital rendering, it's an original from 1975 come take a look, andrew >> oh, my goodness, it looks phenomenon am. looking forward to heseeing you soon you want to go in together and try to buy that piece of art >> no, but i like it i'll keep the flag >>> today's vemors american eagle, down by almost 19%. my son romeo has sought counsel with some strategic advisors. they suggest that we marry our fortunes with...the capulets. blasphemy! fear not. these advisors managed one of the largest mergers in history, creating billions in value. billions? plus, they have experts in global trade. this merger shall be a boon for our spice business. and set a course for growth. here, here! friars, send word at once. yes, m'lord. in two seconds, eric will realize (laughs) they're gonna need more space... gotta sell the house

the new craze in the art world is these nfts, digitalartworks, new craze in the art world is these nftsfor a short break ahead of the platinum jubilee celebrations. our scotland correspondent lorna gordan has been chatting with locals who live in the village nearby about their thoughts and memories of the queen. in ballater, they are getting ready for the jubilee festivities. good afternoon, ma'am. this is a part of the country the queen is said to love. she's a familiar sight on royal deeside. and here, they're celebrating not just a monarch, but a neighbour. oh, it's a fantastic achievement. wow! and a great servant to the country and the amount of things she has done for this country and the area, as well. archive: balmoral has been almost the only place where the queen i could relax from affairs of state. her time here is an opportunity to step back from some of the formality of royal life and to take an active role in the community her family has been part of for generations. she is a regular at the local kirk and fete. there was one occasion when somebody said to me, "oh, "i made

nft reporting strong results -- nxp reporting strong results for will take a look.t sievers is going to join us from nxp. the ceo of volkswagen is expecting things will improve. this is bloomberg. ♪ kriti: we are tracking the moves. ritika: we continue on the downward trajectory, clearly in the red, maybe erasing some losses but investors trying to find safety. they took little comfort from the jobs report. the labor participation looking like the fed will keep with the aggressive rate hikes. we were looking that we could be flat on the week but we will have to see how it goes today, looking like we are going lower. adding more pressure is the yield and the long end of the 10 year. continuing to move higher and we can't talk about a risk off day without talking about bitcoin selling off, 1.7%, trading in tandem with risk and the tech stocks. focusing in on bonds, we talk by the selloff in stocks and treasuries as well when you see the yield of the 10 year on the long end up some 18 basis points, big moves here. investors not going into stocks and bonds, where they p

been buying in fts for multimillion dollars and they don't have a structure for in fts right now -- nftsow. emily: i'm curious about your thoughts on elon musk potentially taking over twitter, given israel in the crypto community and his role in the crypto community himself. do you think decentralized social media is possible with blockchain technology? kavita: as of the current technology that i've seen in the space, i don't think so. identity has been a huge problem in the space, we need to figure out a lot of indexing, identity. should social media -- the reputation system is a huge problem we are still figuring out. in the future could there be a technology where it could be truly decentralized? absolutely. but it is not possible any technology -- with any technology in the space so far. emily: are you calling elon musk fluff? kavita: i think he's a visionary. he probably thinks over years he will build. it's like 10 years passed he said he would put people on mars. he has put a spacecraft on the therapeutic there has been -- spacecraft on there. but he's put a spacecraft on their. -

stumbles on this flamingo casino club, promoting itself as a virtual casino in the metaverse, selling nftsnvestors to get a piece of the action today texas and wisconsin and kentucky and alabama filed this 22-page emergency order. according to the order, the virtual casino had no affiliation of the actual hotel in vegas the account is negotiating with rapper snoop dog to buy metaverse plan to build on the casino is failing to disclose how it plans to fund this purchase. regulators say they used ip records and block chain analysis to trace the group far outside the united states. >> it is operated by russia. >> that's when they started levelizing this. >> reporter: the virtual casino founder told investors, part of the process would be donated to suffering ukrainians >> they did not talk about how they're going to donate as to one person or two. they publicly proclaim it. >> any of the money benefiting to ukrainians? >> i have not seen any money benefiting ukrainians. >> what's happening is the tip of the iceberg we are seeing frauds, there are a lot of work here >> the metaverse casino has

as they seek to diversify away from trading revenues into new product like the nft marketplace ?nt to turn now to stable coins. this came up recently in a discussion with janet yellen. dollar backed stable coins are supposed to provide calm and the stable coin called terra plunged sick to eat -- to $.60 instead of trading at a dollar as designed. it is now background $.90 but is this a sign of trouble for stable coin more broadly? i went to bring in the head of coverage for her take on all this. let us zoom in on tara. what does this mean? >> there are a couple of things at play. there's a difference between an algorithmic stable coin versus based -- versus a stable coin backed one to one with the u.s. dollar. if you look at heather, usd is a blend of luna and ust which is minted and burned to maintain the one to one peg. what happened at the end as you sigh large motivated seller go into the market and depress the price and d peg the algorithmic stable coin, causing an initial drop down to point eight cents on the dollar. why is that concerning? because the luna foundation guard

. >> yep >> wow i want to see other nft businesses, not really expanding that welp here's what i founderesting. their head count increased dramatically 4,484 people, increased 33%. that's ill-advised when your business is getting gob smacked, you don't just start adding employees it's just not the way it goes. and i saw that and i said, okay, well, that's just kind of the opposite of what you do. maybe you're throwing good money. maybe we should be retrenching a lot of good companies don't want to do that because that indicates they're not on the path of profitability. the way to do that is to retrench they didn't care about pr profit profitability. it's absolutely true, david, that companies that have capital will get through this, but i think that -- i'm beginning to believe that jay powell's targeting the stock market >> really. well, he's doing a good job if that's what he's trying to accomplish >> it's not like he's out there saying, you know, he feels bad about people owning stock. >> no. i do wonder what it's going to mean for employment over time. you raised that idea they were

now we have a few of the nfts are moving on it. house. especially the one i created for foster care month, it's the rose, the met at that rose. some of the proceeds of sale of ntts will go toward education, providing education opportunities for foster care children who are aging out of the foster system. nearly 20,000 children are aging out of foster care. pete: a year. >> a year, yes. now we have 407,000 children in foster care. pete: in america today. >> in america today. so i will be proudly grant scholarships to the children, to students that deserve it. pete: the first college scholarship recipient. michael, why don't we surprise them. i give him a call. >> yes. pete: he doesn't know you're here. michael. >> yes. pete: pete hegseth with "fox & friends." share your story in the foster system. >> i was born to a single mom until 18 years old. i was a foster child. lived in self homes until i was 18. pete: you're aware of the giving scholarship from melania trump. what does it mean to get that scholarship. >> ha is neat. pete: wh

the companies will develop a range of nft products for almost 500 -- from their most 500 million imagest business flash. guy: it is interesting. spac's having a tough time of things. crypto having a tough time as well. let's stick with what's happening in digital assets. bitcoin just above $30,000 right now. i think the biggest problem food bitcoin came from a problem earlier this week. talking about the fact that it's just too hard to transact and it's too difficult to transact in bitcoin. it's never good to be a bigger story. at the give to take a step back. any a world where energy is becoming more problematic what is the future of bitcoin look like. alix: is it blockchain or bitcoin or stable coin or ethereum. mark of ubs said investors should not call a bottom in these highly speculative assets. that's different from weeks ago where investor set up no growth anywhere you have to go there no matter what because if you see growth in five or 10 years it will be in that area. one i'm sure they will be talking about today. our bloomberg crypto show coming up. you will hear from the cofo

month out is so that members can file their taxes without having that led up against the deadline for nfts. frankly, taking a poll of members and figuring out that intent makes sense would be a reasonable approach to figure out if it's in place. >> let me ask a couple of questions that have been asked to me by various members. people wonder about this. member of congress is estranged from her spouse. not divorce, but it's obviously heading that way. the nonmember spouse is engaging in rampant stock trading and will not comply with requests of the member spouse, should we have a provision where you can say, this is out of control or we are a strange story you are going to hold a member accountable for something they can't control? what do we do with that? >> two things to consider is any exemption or potential exemption , one is to look at how the executive branch has handled it. they had similar restrictions for over 60 years. the bigger, broader principles for congress to consider when thinking about this or any exemptions to the rule is that any exemption takes you further away from what

policing crypto market abuses, from new coin offerings and crypto exchanges to defi platform's and nft'se office brought more than 80 enforcement actions since launching. we will have more of that in our crypto report later this hour. coming up, one click payment. my next guest says no such thing. i will talk to the founder of a shopping app with a one click check out function about that and the controversy surrounding its competitors, next. plus, we will have the latest on that reporting for elon musk's vision of twitter truly becoming a public company yet again. that is next. this is bloomberg. ♪ xfinity mobile runs on america's 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. get $400 off an eligible samsung device with xfinity mobile. take the savings challenge at xfinitymobile.com/mysavings or visit your xfinity store and talk to our switch squad today. emily: welcome back to

policing trip to market abuses, from new coin offerings and crypto exchanges to defi platform's and nft'se office brought more than 80 enforcement actions since launching. we will have more of that in our crypto report later this hour. coming up, one click payment. my next guest says no such thing. i will talk to the founder of a shopping app with a one click check out function about that and the controversy surrounding its competitors, next. plus, we will have the latest on that reporting for elon musk's vision of twitter truly becoming a public company yet again. that is next. this is bloomberg. ♪ emily: welcome back to bloomberg technology. let's get back to elon musk's evolving vision for twitter, taking the company private, but not blocking out the possibility of becoming public again in the future. our ed ludlow here to discuss. we are getting a new report from dow jones. ed: dow jones is reporting according to their sources that elon musk is telling potential co-investors, because he's still trying to line up the equity portion of this deal, that he can eventually take twitter publ