nft collector.— and nft collector.le truly realise j and nft collector. i don't i think people truly realise or companies truly realise how much money, capital, resources, passion it takes to build out this metaverse, or part of the metaverse. there isjust so much momentum you need to be something that can stand the test of the next five years so by the big tech vision of the metaverse is well on its way to achieving mainstream adoption. roblox fortnite,, and minecraft have millions of users. and are developing more all the time. the crypto universes despite being more fully open to the vision of the metaverse are clearly not drawing any crowds yet. where is everybody? as you will moving through you will notice there are a lot of big white boxes, so these are the spaces that people buy up and then don't do anything with. it makes the area feel dead. in makes the area feel dead. in horizon wells, mitta's flaxey well, reports also suggest the people are not being engaged for long. some analysts predict that these wells w

sticking with the metaverse, thinking about nft's and thanksgiving, macy's is doing its first-ever nftade balloon. you can go on and vote what you want this non-fungible token element of a balloon to look like, and it will be a reality in real life come 2023. it feels extraordinary timing to be doing this. kind of hopeful that these brands are very focused on the here and now. ed: macy's parade is a mainstay for a lot of households. i don't know which one i'm chewing into, but wow. caroline: coming up, we have so much more to get ahead of our thanksgiving turkeys. the case of bitcoin we will discuss and how regulation will shape crypto markets. this is bloomberg. ♪ >> bitcoin's hash rate is at an all-time high. that is an indication of the security of the network. ethereum, we are seeing the total value staked at $24 billion. that is an all-time high. we think the infrastructure is working beautifully. caroline: cathie wood justifying recent investments that she has made in coinbase and crypto. she's sticking with her production that bitcoin will hit $1 million by 2030, all despite the

. >> we did see in the nft space women coming together. of it felt celebrity endorsed in some way. coming together and trying to build some art. i think a lot of it was hot women but i do think that is all inclusive. i am interested in what you think and be done in the here and now. that was the evidence in the particular form of web two. what is being lost now? >> i think what is being missed now is the opportunity to actually have a very expansive idea of what the meta-verse can be. i think what we often look at is just the technology but we don't think about how the technology can actually solve century-old problems. i think for example, we have a health care system that is really crippled. how everyone is innovating. there would be fantastic. i actually think that when you think about how women participate here, they don't really want a casual sort of focused opportunity. they want to deeply be engaged, whether it is about health care or the way that they live and to exercise, they want everything to be lifestyle and have real user exp

mateen is a successful metaverse landowner and nft collector. how much money, capital, resources, passion it takes to build out this metaverse, or part of the metaverse. there'sjust so much momentum you need to be something that can stand the test of the next five years. the big tech vision of the metaverse is well on its way to achieving mainstream adoption. roblox, fortnite and minecraft have hundreds of millions of users and are developing more metaverse—style utility all the time. the crypto metaverses, despite being more true to the fully open vision of the metaverse, are clearly not drawing in the crowds yet. where is everybody? as you're moving through, you'll notice there's a lot of big white boxes. so, these are the spaces that people buy up and then don't do anything with. it makes the area feel dead. in horizon worlds, meta's flagship virtual world, leaked internal reports also suggest that people are not some analysts predict that these worlds will explode in the next ten years, with people spending six hours a day plugged in. but wh

you can buy land as non—fungible tokens, or nfts. when you buy it, if you own the nft of the land, thenterest. according to metaverse platform analysts at dappradar, on metaverse land. but it's notjust big corporations. i bought my first metaverse parcel in july 2020. was about 1,500 that i've paid. i'd bought it, really, for exhibiting my own work, but also for running events — metaverse events that would promote my art, but also other people's art. angie taylor is an artist who has been creating, buying, and selling visual art for years. she owns plots in a platform called voxels, previously known as cryptovoxels. this is my gallery. it's called the london gallery, and i built it myself. as well as expressing herself through her gallery, angie also makes clothing for avatars. when i first entered cryptovoxels, i thought, "i need an outfit," so i started making my own outfit and i decided to base it on myself at about the age of 18. at the time, i had a huge red mohican and i used to wear sedition—made t—shirts. you'll find little places like this gallery here, where — so you could co

requests related to the best addition requirement for copyright deposits and the ip issues related to nfts and collaboration with the trademark office. two other ongoing projects relate to technical measures for identifying or protecting copyrighted works online. we've also engaged in extensive rulemaking. in addition to those setting up the ccp, as of early 2021, the office had issued all the regulations needed to implement that music modernization act. we continue to exercise an oversight function as directed by congress, while conducting numerous outreach activities. last october, we completed the eighth triennial section 12:01 rulemaking. the office is also prioritizing the enhanced use of debt as part of our new strategic plan. we recently issued a report on women's participation in a copyright system, finding a gender gap in women authors share of registrations but one that has been shrinking. we released the underlying data set in bulk and are planning further research to identify other potentially underserved groups. this will help inform our outreach activities and also further th

i didn't nft and i think it was top of the market. we made an nft at home. >> what was it?an image. just sort of digitally with a surveillance. it went down in flames. >> did you sell it to anyone? tom: i did not sell it in fact. it just did not work out. remember spac was that twocups of coffee ago',s, that worked out? dave got weeks to adjust to figure out the game plan for january and february. >> i think they would love to see some economic stability. return lisa, right now, we are not getting that, are we? >> although maybe next year, if this concentration, we might get some consolidation. you do wonder at what point they really right sized and you could sort of understand what the future is. i keep thinking about what michael sure was saying. it's really interesting how we are seeing the end of tech leadership as we know it and there is more to come. i wonder what this looks like, given the growth, the generation of a lot of the sellers. mark: super bearish but i say this because it is a worth of discussion. last decades are not unheard of. if you think an asset class

nft, crypto.ay powell is a gent he doesn't come out and say, i want all you people who are buying this stuff to realize it's phoney, but it would help the cause, carl, if crypto would go below 4,000 >> we saw a lot of technicians talking about 12 or 13, production costs >> who are they owned by tom brady? give me a break. fed doesn't like this stuff. fed doesn't like it. this is sourcing they think crypto, really? i saw some people last night who are all worth more than $10 billion, which is a lot of money. >> you did >> yeah. >> were you at a secret billionaire's meeting of some kind >> like "eyes wide shut" thing >> if i told you more about it, i would be killed. but no, i mean, they were all, like, laughing at crypto and just talking about the munger view you know the munger view >> i do. >> well, that's now become very much en vogue. >> well, to his credit, he didn't change his view throughout back to doordash for a moment, which we saw the stock, which is up i mean, the ceo does say, you know

cheryl: i would say i would never tell my mother to invest in an nft. that is just me.n the crypto bandwagon. this definitely makes me not on the crypto band wagon, jonathan, ray, thank you very much. appreciate it. >> thanks a lot. cheryl: ray, he has to get back to his golf game. criminal convictions plummeting here in new york city. coming up we'll break undo the policies behind the drop. that is coming up next, criminals all the way. nexium 24hr prevents heartburn acid for twice as long as pepcid. get all-day and all-night heartburn acid prevention with just one pill a day. choose acid prevention. choose nexium. what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are, regardless of your health history, offering values based affordable health care cost solutions. learn more today at yourchm.org about health care that puts you in control. cheryl: convictses in new

so now he is talking about nfts and crypto. comes to the hunter biden story and the biden family selling access, doing deals in rush that, in china, in ukraine, and kazahkstan, was there any vetting of the companies and the people they were doing business with? because we're finding these companies quickly collapsed after the deals fell apart? >> exactly right. every company has collapsed. even the chinese energy company is now referred to as china's version of enron. everything hunter biden touches collapses. because hunter biden -- elizabeth: but do we know who the people were they were doing business with and whether it compromised u.s. national security? >> i fear it did. i think we have enough evidence to prove to the press corps we need to move forward. this needs to be a priority for the republican majority from an oversight committee standpoint. elizabeth: got it. congressman, comer we'll stay on the story. we'll cover it tomorrow. thanks for bringing it to us. bringing news to us. we'll be on the story tomorrow. it is

nfts, no.ose digital images of say monkeys. >> steve: i still don't get that. >> nobody does. that's the point. the more they would sell this stuff. i have some impassioned pitches for nfts or crypto and i have never been convinced. did i my homework a long time ago. >> steve: you have gotten in on the ground floor. >> i would have to bail out of bitcoin 50 grand which i never did. bitcoin 15,000 it was at 16,000. some of these crypto brothers sold all their and bought real estate. now you have a hard asset. so many people out in some instances millions of dollars. it's sad. this reminds me of the.com bubble which i did cover as a business correspondent. i watched it implode in 2,000. a lot of similarities to be known now. >> steve: some day digital currency is going to be great and everybody is going to use it. we're just not there yet. >> let's regulate it. that's why we have central banks around the world to guarantee that our money is safe. >> steve: right. why is blockfi blaming ftx for th

. >> charles: dan, a short time ago you actually interviewed sam bankman-fried on nfts.sold from ftx was the word test, looks like it was written by an 8-year-old on an etch-a-sketch, sold for $270,000. if not a scam, what is that? >> they all looked dumb to me, but beautiful to other people. in nfts mean a lot to people buying them. >> charles: one bought for a million dollars, now worth 50 grand. his demeanor overall, he was shaky, unsure of himself, just your overall feeling looking back on that, what's happened since then? >> sure. that interview was in the bahamas, after they moved there from hong kong. sam, from a personality perspective, there's a lot of silicon valley or tech entrepreneurs, who have similar mannerisms to him, dress the way he does. that doesn't mean anything. some are remarkably successful and honest. the issue we've learned about sam bankman-fried over the last 10-14 days, he comingled funds and arguably stole money from customers. that's not common, even in the crypto world where you have massive bubbles, worth $2 million, are now worth -- that

reporter #2: nft volumes have exploded... to buy a crypto coin, people just really love predicting something, seeing if they're right, and standing to gain if they're right. and that's been the ticket to the 1% for the newest, youngest millionaires. red and black. oh, yeah. you invested $10,000 and it turned into $1.3 million... on a cryptocurrency created based on a meme? i have moderate to severe ulcerative colitis. so the moving truck just came, so i'm taking zeposia, a once-daily pill. because i won't let uc stop me...from being me. zeposia can help people with uc achieve and maintain remission. and has been shown to reduce symptoms in as early as 2 weeks. zeposia is the first and only s1p receptor modulator approved for uc. don't take zeposia if you had a heart attack, chest pain, stroke or mini-stroke, heart failure in the last 6 months, irregular or abnormal heartbeat, if you have untreated sleep apnea, or take maois. zeposia may cause serious side effects including infections that can be life threatening and cause dea

the company there fishel cryptocurrency platform and nft marketplace team is also a defendant in a lawsuit filed last week. u.s. base ftx customers seeking damages from celebrity endorsers like steph curry and quarterback tom brady. triple a estimates that nearly 55 million americans will fly drive or catch a train over the next few days to celebrate the holidays. air travel alone is likely to peak just shy of pre-pandemic levels. xavier walton has more on how much you might be spending this year to get to your destination. >> been astronomical forever. sticker shock and holiday travel, hiccups. i don't want to trash an airline, but let's just say arrived here about 03:30am, in the morning as millions head to different destinations. most of the same about the cost to get their lunch words you had to pay white. >> why i to pay $100 because my back was 2 pounds 2 pounds, 2 pounds. >> i mean, you've already paid an arm or leg and then now you get here, you have an extra $100. how does that make you feel? >> broke. we're going to compared to last year. average airfares up about 40%. >> can sta

because it was ties to the movement -- they had invite med on several times and i had gone on and nftsdle of the reporting so their at its highest and lula out of jail and the movement angry in general and in particularly with me. and -- there's this journalist who had been in the mainstream a long time he was editor of brazil largest "newsweekly," and about six weeks prior to my going there he had gone on the air, and essentially said that -- my husband and i should have our children taken away from us that we should be investigated by the adoptionwe agency how can we whn we have stolen documents and he's in brazilia homophobic remarks something to say -- but personal you may mean when people talk about your children it should be one limit, you know, and political warfare. faand i was extremely angry abot that and last minute they said we like to put him on the show with you. do you mind? i said no i don't mind because i wanted to confront him about his comments he had made.ou and they seated us, you know, almost like millimeters away. you couldn't have made a more combustible atmosph

caroline: someone somewhere still caring about the nft's related.ing up, a conversation -- let's talk about ftx's sam bankman-fried. one of the early investors are bridges baited in the 2020 funding round. what lessons did he learn and why was he convinced? stick with us for it. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they made us feel completely com

they believe in neutral protocol that is going to confirm a number of activities whether it is defi, nfts movement, why wouldn't i want 4% to 6%? it's an attractive opportunity. >> you have seen yields jump meaningfully higher. there's no free lunch. 10% is very hard to sustain. how sustainable are the surges in yields and do you get concerns when you look at -- pool and see imbalances starting to form? >> the yield has never gone to 20%. the yield is a calculation based on how many other participants are staking their asset, how many transactions are taking place at any given time and they are paying a transaction fee to have their activities validated. the yield is going to bounce around. whether they stay up at 6% or drop to 2%, i don't know. i would say that staking offers the lowest risk rate you can get. it's not completely risk-free, but it is effectively a bond with the protocol and that is as safe as you can basically get other than just holding and looking away. >> how do you feel about actors, you have the ftx hacker that emerged with a large stack of ether. when someone is ama

a lot of demand for everything from defi to nfts and even transactions.a lot of interesting opportunities built around it three or him. -- ethereum. there is layer two roll up that allows you to scale transactions even further, overall seeing a lot of traction from traditional companies hoping to tap into the web3 market. ethereum and its related projects is way to do that. we are excited and happy about developer adoption and we continue to track it very closely on it. -- closely on a theory of. >> earlier this year we had companies with issues with liquidity, you are part of them with coin flex, what was to be learned from that? guest: these are good lessons to be learned from the space overall. they teach these companies risk management. i think in some ways the farolitos we saw in the space were not because of web3 protocols and the smart contracts did not work or anything like that. they were at failure of the meat space agreements, real-world legal contracts. attesting to proof of funds or anything like that in a number of cases. that is what failed

last year there has been a lot of nft activity.le, bringing that to web 3.obviously the crypto world has changed. how do you view it now? eli: he was always kind of an area where you still have a lot of questions. you kind of understand it but were not quite sure, go in on that area? just because there were so many different unknowns. it was still scary, and you heard the buzz and everybody, these great success stories, but you still were not quite sure. luckily it did not go too heavy into that area. i think that is the exciting thing about private equity. it is not the venture world. it is finding companies that are -- have been around for a while. there is much room to grow and bring in people that can add value to these companies is what we are looking at. kailey: you are looking at more company -- more established companies. how are session resistant are some of those established companies? we were just finishing a conversation on the retailers. how does that read through into this world? steve: it is hard to say any business

. >>> gamestop launching the nft marketplace. up with the blockchain for the platform which allows gamers to own the assets within games. this is the latest to reinvest gamestop and adopt blockchain technology and cryptocurrency. >>> to our top story and the federal reserve kicking off the two-day policy meeting today pricing in a more than 88% chance of a 75 basis point move tomorrow joining me now is former vice chairman and board governoring roger ferguson he is also a cnbc contributor. >> good morning, seema >> mike wilson says the fed is nearing the end of its rate hike cycle. do you agree >> i do not agree with that. i agree with the market expectation that the next move is 75 basis point tightening this week. i expect 50 in december and 75 on the table and i expect two more times next year maybe 25 basis points. i think we are not nearing the end as maybe other people think that to be the case. >> what data points or economic reports will you look to give you more confidence that the fed is nearing the end of its rate hike

caroline: someone somewhere still caring about the nft's related to it.ing up, a conversation -- let's talk about ftx's sam bankman-fried. we have one of the early investors. what lessons did he learn and why was he convinced? stick with us for it. this is bloomberg. ♪ well, we fell in love through gaming. but now the internet lags and it throws the whole thing off. when did you first discover this lag? i signed us up for t-mobile home internet. ugh! but, we found other interests. i guess we have. [both] finch! let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about. ♪ caroline: this is "bloomberg technology." ed ludlow there in san francisco. i am caroline hyde in new york. we want to be discussing how geopolitics is front and center. the g20 is upon us. it appears the u.s. and china relationship is kind of warm

years of silence and building, but at the end of that, there will be maybe an opportunity for defi and nfts, but this is going to hit the reputation -- the reputational hit that crypto will take as a result of this cannot be understated. >> it goes to the real heart of the legitimacy, not maybe of crypto but some cryptos behind it silence of the shams traffi frank, thank you >> thanks. >>> we will hear from one crypto startup whose customers include ftx and binance. >>> first the draft king slayer, california voting against a bill to legalize online sports betting. those details when "power lunch" continues. you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. [holiday music] ♪ for people who love their vehicles, there is only one name on their holid

felonies based on the hunter biden laptop and he is trying to give an interview about painting and nfts? he was trying to sell paintings for $5 hundred thousand like that was normal. they are obsessed with people buying hamburgers at the trump hotel and yet this is happening. >> harris: it's not the feke-out by the reporter. i want to hear what was hunter saying? i can't answer that or attempting to give an answer? i don't know if that's worth -- i do know what we do to get it or if it's worth any of it. interesting to know what was being said on the other side. critics are going after john fetterman's wife. many were quick to point out her husband is partially cropped out and accused mrs. fetterman of using it for her own 15 minutes of fame. she wanted it so badly for herself. first day for senator elect gistel fetterman and why is she even there? >> she is a lot better looking an he s. as a man married to a wife far better looking i'm sure he would say i don't need to be in the photo. he is not able to do the job, harris. the reality here is that it does feel as if basically pennsylva

into luxury items, you have been focusing on authenticity and leaning into, it has hold back the whole nftbut the focus on sneakers, collections, what people wanted to buy of collectibles. is that going to be hit? what is the price point alike as we go into this slightly slower economy? renee: i don't think i have the data to speak to the price point being the sustainable. what i can tell you is those luxury items that are being resold are just as valuable in terms of avoiding emissions and avoiding waste as lower and items. the sweaters in my closet, the average american household from our last survey has $4000 worth of rit -- of things in their household that they can sell. we are heading into the holidays, that could be the difference between putting a present under the christmas tree, or exchanging gifts during kwanzaa, or even putting the turkey on the table. we don't want to see this 1099 k form which could be really confusing and disincentivize into casual sellers, impact what we want to see is purses a patient in the circular economy. ed: ebay head of stiffs -- head of sustainabili

. >> the first nft sold from ftx word test written by 8-year-old on etch and sketch.s that? if not a scam why is that not total [bleep] >> so, yeah, i was surprised by that. i honestly have -- >> jesse: he is shaking and has no idea why it's not a scam? i mean, would you give this guy your money? if chuck todd makes mini madoff shake this much, imagine how much is he shaking when he is filing his taxes. crypto fetterman weirded out everybody he was around. watch this. >> what's up guys i'm here with my boy sam from ftx crypto bahamas conference. start the day and do some tiktoks for you guys and it's going to be amazing day. we will get started we will do a get ready for w. me. sam, where are you going, bro? >> jesse: is he going to steal some money, tom. i mean, he doesn't have time to hang out he has to pump and dump. the politicians in charge of overseeing guys like mini madoff you know maxine waters, no relation, says the bitcoin king is actually as normal as it gets. >> you know sam bank man freed, right? he has testified before in front of your committee hasn't

if you go to macy's.com/nft.eed a ticket if you do so on on the computer, and you don't need a vr headset. you don't even have to log on, you just go to that web site. you can sit home, you don't have to stand in a crowd, you avoid traffic and the cold worth. you can participate in, i guess, some voting on the balloons, etc., if you par partake in the online metaverse version, but the tv's just fine to me, it really is. ashley: yeah, me too. you get a front row seat -- we're all missing it, apparently, but we've let people know that it is happening. thank you. >>> now this, the mayor of new york city eric adams, just ordered a new round of spending cuts, the third time since taking office earlier this year. joe borelli is the minority leader on the new york city council, and he joins us this morning. joe, look, the city is blaming the budget cuts on inflation and the migrant crisis. what say you? >> well, look, new york city is certainly facing inflation problems and financial headwinds that every other municipal

them over the last six months i think they're well positioned, when basically equities, crypto and nftsback up i'm bullish on coinbase's opportunities in the future. >> it's great to talk to you come back soon steven jang from kin drid ventures. >>> tech is down more than 27% if you're looking at the s&p tech sector this year. our next guest says one slice of tech has been unfairly lumped in with the laggards. let's bring in marc leman. you have liked these for a while. are you saying enough is enough? >> partially, sara we have been selective and we've talked for the last six months how we no longer talk about faang tomorrow and we want to be careful lumping the entire sector into everything is good or bad so you've got to be really selective and i think we've seen some quarters for the third quarter reports that we've seen so far and a couple of names that have been quite good and you've got to be selective i think we're looking at profits, not just growth and the companies that got ahead of that and are playing in some of the high growth markets are going to show a lot more profits.

all 20,000 scam coins are securities and nfts are securities.ough the securities regulator this is something that no one else is doing or recognizing. as a result they let the scammers like sam bankman-fried who is like a cross between bernie madoff and charles manson, just operate without any restrictions, ripping people off as a racket. he is a racket racketeer. gary gensler is involved and high-profile democratic politicians. this is racket. racketeering. it is a criminal enterprise down there in the bahamas. charles: i know. i got to let you go but i think the reason they did this, they have allowed all of this, they're so afraid of bitcoin that they have allowed these scams to perpetuated because the regulators could have stepped in. politicians could have stepped in. instead they let the american people get crushed again. max, i want to talk to you when you get back to the states. maybe i will come down to el salvador to meet you soon. thank you very much, my friend. coming up, folks my takeaway on thanksgiving side dishes. have a little f

but that was the bet people were making there were a lot of other tokens and nfts that had wild speculative ideas. i think that was mostly driven by free money for everyone and that wasn't going to come back and so listen, investors look at the horizon, bitcoin is a really important asset because governments around the world are trending towards populism. and populist governments spend more money than they have. that is the bitcoin story in a nut shell. and they are playing ethereum because ethereum is being used more and more to build this new infrastructure and so i don't think that those two main stories go away i think that it will take time for confidence to get rebuilt. i think that if you go on to fidelity website or their -- they launched this new bitcoin -- or crypto program for their retail, and if you go on their reddit page, it is brilliantly done and they will slowly educate their customers as we've been doing the entire time we've been investing. >> that is one part of the ecosystem. but we're focusing on the part . you are also involved and burned by tara lieu in a oig. why s

dapper labs is letting 22% of its staff go dafra has developed nft platforms for the mba and nfl this comes on top of a mixed jobs report 261,000 jobs were added in october. that's the good news, but despite that the unemployment rate climb slightly to 3.7% even worse the labor force participation rate rose to 62.2 percent in a healthy economy. more people are joining the workforce and looking for work. the report is also a sign that the federal reserve will likely keep raising interest rates in the coming months. we're hearing from speaker of the house nancy pelosi for the first time since the attack on her husband paul. it's part of a videotaped message ahead of the coming elections. she shared a brief comment about the incident. thank you. thank you. thank you for your kind words your prayers and your good wishes for paul. he surrounded by family. so that's a wonderful thing. it's been one week since the attack on paul pelosi today. the preliminary hearing was scheduled for december 14th. abc 7 news reporter loose pena was in court learning more details on what the prosecutor and d

their official cryptocurrency platform end nft marketplace. the team is also a defendant in the lawsuit filed last week by u.s. based ftx customers that are seeking damages from celebrity endorsers like steph curry and quarterback tom brady. >> now to our 4 zone forecast as we give you a live view at sfo tonight. a lot of people heading out there and that's really perfect weather. if you are traveling for thanksgiving holiday, lawrence karnow with the details really are sometimes this time of year we can be in for some big storms right now or catch a little bit of a break. i think last forever fact, next week we're going to talk about a whole different stories. the weather is really going to begin to change. but out there tonight. yeah, quiet night around the bay area will be cold as those skies are going to stay. mostly clear. they'll be couple high clouds moving in. i think late tonight into early tomorrow morning. but you're looking good out there right now into san francisco, the golden gate bridge kind of quiet out there on the bridge for

official cryptocurrency platform and nft marketplace. the team is also a defendant in a lawsuit filed last week by u.s. based ftx customers seeking damages from celebrity endorsements. and those such as steph curry and quarterback tom brady, members of california's congressional delegation of called on the university of california's president to begin bargaining in good faith with the school's workers union. this comes as the largest strike in the country heads into week. number 2, the strike is causing many classes across the state to be canceled. and for students fortunate enough to still have classes. they're feeling the absence of the student workers. >> right now, students have still been turning in the home ice, but there are no great is creating them they have a multiple choice online exam so that it would be possible to still administer sense. it's automatically granted by the online system but there are no gs highs for greater you know, putting anything in the great book. >> you see negotiators have offered a salary scale increa

the winner will also get an nft image of the sandals that auction will and sunday. >> and now 4 sportsrought to you by xfinity. >> it was quite a show. the warriors face the cleveland cavaliers tonight at chase. look into when consecutive games with the dubs. for the first time this season, it's been rough. getting started. the cavs are actually one of the east best teams, 83 record, but the dubs of one the past 10 regular season meetings with cleveland. they have their number. so what's going to give the forty-niners given the dump some love tonight, maybe both samuel. well, it's a brand and i you watching the game from the court. they were treated a great. performance from staff who takes the skip pass here? >> drives baseline. put some spin on it. the case off the glasses, bill raftery would say great body control warriors, though, down for the half. donovan mitchell used to be on the jazz now showing off for the cavs euro step around. kevon looney lays it in. mitchell led the cavs with 29 that game came down to one guy. steph. tell warden kerry. he gives it to draymond, gets it fro

the winner will also get an nft image of the sandals. the auction ends on sunday in case you're interested. so you can also just say i walked in jobs. >> the is up to do just kind of i guess you could get them into like a case all right, mike devalue the machine. well, somebody will, i guess i bless their heart. and that does. for news at night in unison in eunice. oh, man, you have a great weekend. thank you to katherine and i will be along with kron. 4 news at 10. what are we? what are we serving up tonight? kathy, partly the fact that it's a really good weekend to head of the sierra. if you ski. >> some ski resorts opening up marking earliest time they've done that and longtime what you need to know if you are hitting the slopes and he was once a homeless veteran. now he works full-time of lough used. this is thanks to a nonprofit called and power on the spectrum stable. going to highlight that organization and work in helping veterans find careers in technology and a francisco business ransacked by burglars last year is back. it's go

the winner will also get an nft image of the sandals. the auction. ends on sunday. no wonder what the smell like. marvel's newest movie black panther wakanda forever just came out and the first holiday movies of the year are now on their way to theaters. so let's get a preview with dean richards. >> for years, the question has been, how will they ever continue? the marvel panther franchise following the death of chadwick boseman. a monumental shift had to be made, but it was the ship that works beautifully both as a touching tribute to the actor himself, but also in furthering the story of why king t'challa is no longer there. black panther wakanda forever is how the kingdom deals with the unexplained death of its popular leader. >> and how it transitions go through phases of personal and collective grief. but also when faced with challenges from other nations, one of them, the mysterious underwater city of palo com with its ambitious and protective leader. no more played beautifully by mexican actor to what it's one of many amazing performances in wakanda forever i

the winner also get an nft image of the sandals. the auction ends on sunday.em, but they're cool. >> coming up here, a trail of destruction after storming weather on florida's east coast will take a look at now where tropical depression to where tropical depression to coal meet leon the third... leon the second... and leon... the first of them all. three generations, who all bank differently with chase. leon's saving up for his first set of wheels... nice try. really? this leon's paying for his paint job on the spot... and this leon, as a chase private client, he's in the south of france, taking out cash with no atm fees. that's because this family of leons has chase. actually, it's león. ooh la la! one bank for now. for later. for life. chase. make more of what's yours. ll, we fell in ve through gaming. one bank for now. for later. for life. t now the internet lags and throws the whole thing off. en did you first scover this lag? signed us up for mobile home inteteet. h! t, we found other interests. guess we have. oth] nch! t's go! oh yeah! 's not the same. a

correct you can be quote/unquote canceled as an older adult for lack of a better term for questioning nftshain, cryptocurrencies, you just don't get it. and not unlike what happened, you know, if i may date myself, in '99, '98, '99, 2000, leading up to the internet 1.0 crash hey, man, you just don't get it. this is a new world order. but when you get to be my age and start in wall street in 1987, september, 1987, a month before the largest percentage crash in one day in history, you get wise very quickly to these kind of pavbehaviors. i've seen this pattern, i've written about this pattern and this inevitability that was coming obviously, we didn't see it, just like you couldn't see it at bear stearns but the risks that were being taken. the way the fed was making money so easy to be available to so many people, and they were just going for it and all of these promise of revolutionary change, you know, maybe i'm too cynical. >> no. i was just starting out my career in '99. and remember when analysts started using the term revenue per eyeball? like, i haven't seen that in graham and dodd. b

. >> people wonder if the digital art, nft, whether that was kind of a fad this is almost like moving which is like a gold or something like that it's always been a pretty good inflation hedge. i think what's interesting, correct me if i'm wrong, scott, some of these collections that have come available, how do you price those when you don't have a -- ten years ago it sold for this some of these guys bought things from the artists as they were made so you don't know where they're going to be priced i don't know how you would do that i guess you do it with an auction. >> you do it with an auction half of the volume in the art market trades at public auction. you can see public comps for all of these artist markets and what things are selling for to appropriately value them interestingly, paul allen bought lo these paintings relatively recently. so his were not that far back. but, yeah, that's the case >> different that he was older and collected for longer you are an impressionist aficionado so you know how to do this with your own collection. like anything, there's times when you take

would add there are still challenges in terms of how different digital goods are defined, the rise in nft'se is a lot of uncertainty on how they should be classified. having a broadening of definitions on what is considered a digital good. secondly, the sourcing is a big issue. i am working with a client where one of the challenges is your selling digital goods you do not have to capture a physical address. how do we define where that is sourced? particularly with things that are utilized on a multiple employee basis, so if i sell things to a business, where are those employees who are using it? how much is the buyer required to provide to the seller? those are just a couple of the challenges. >> i would just say we previously introduced a bill which would add this issue and i would say that this hearing as it reviews the wayfair decision, we should look forward to decisions to see that businesses are able to compete in today's marketplace. we still have some work to do there, but your highlighting the challenges created by these state laws is something that will be useful and guide our dis

it is taking off through gaming, through metaverse, and nft's, and currently, there's around for hundredillion crypto holders around the world. we want to get to one billion, but events like this does give investors pause for thought. we need to come together, regulators, investors -- everybody needs to come up with solutions to make sure this asset last is managed in the right way. david: right. i think to your point, we have not gotten to the bottom of the issue. it seems at this point not so much an understanding of the technology, but behavior and compliance and being at least transparent. what do you think the other platforms need to do to shore up confidence? >> one of the interesting outcomes of recent events is actually the fatal flaw, if you like, has been the human intervention, the human mismanagement. the promise of blockchain is that a lot of this risk should be taken away by the promise of the technology it elf, to be self executing financial agreements, to lock collateral within smart contract-basis agreements, so it is actually secure. we are trying to move away from thes

what happens along the water front impacts san francisco's from every corner nft city and the scale of change necessary provides a once in a generational opportunity to get our water front right and give it to future generations. now to key project to enhance the experience, the san francisco arts commission is inviting team to qualifications from an art piece. from a large sculpture to series of smaller sculpture. the rfp is through october 2 and applications will be accepted until midnight. once the committee has been scored we'll be bringing to the art commission in september of 2023. this is funded by our general obligation bond and part of the enrichment program. so in closing, finally commissioners consistent with the write off policy adopted pursuant torres losing 22-11, summarizing the accounts which accounts have 30 days before you process. if you have any concerns, please contact me within 30 days and we can schedule a future commission item to discuss. and in closing, don't forget the tree lot that uses our own piers, 32, 59 embarcadero. it's the self-help organization for f

the bahamas loophole the exchange is allowing withdrawals in the bahamas and paying high prices for nfts. data firms calls it unusual and this could mean traders are cutting deals with users in the bahamas to receive assets back once they are withdrawn from ftx. another part of the story reports say sam bankman-fried alameda research traded billions from ftx accounts and leveraged the tokens as collateral we conjectured that was the case i don't know where this leads. does this lead to criminal charges? we don't know. >> lots of speculation about that hard to say for sure look, anthony scaramucci said he invested back in cryptocurrency and sam bankman-fried's coin you are pricing up that coin. >> if you look at the terms of service, it appears that when you invested money on the exchange, it was not money that was therefore accessible to the platform or alameda or somebody else to go trade i think it could be a clear case for him of when you comingle funds, you have a problem. this could be more than comingled funds. in his defense, it was a labeling issue he didn't know this was this i

that led to unbelievable amounts of risk-taking in the markets in hindsight looking at crypto and nft'ssuppress rates and bring them down to zero. people go out and are induced to sometimes 2020 hindsight reckless things. and breaking the spell of the resulting inflation is difficult talking with the trillions of dollars that were added to the economy. the multiplier effect of money still in people's pockets. people taking money out of their homes with home equity lines of credit. i just don't know if 4% or 5% interest rate will solve that. host: we now have a viewer from london, england on her independent line. caller: thank you very much for taking my call. i'm calling from london. my question is europe as an extension of the u.s. economy, yet it is not in the total conversation discussing the effect of this with recession and what would happen, what impact that would have on the u.s. economy. the other thing i would like to mention is the problem in europe is lack of access to cheap energy. no one is expressing that issue. how europe can have access to cheap energy. thank you very mu

had this wild acceleration of prices in all of these coins including baseball cards and wines and nftsng money was an item. so, you had a bubble, right, there's no doubt about people's art excelling for $69 million, that made no sense, as much as i love people. at the same time, this lehman moment is, wow, that privilege is overleveraged and asset liability, a system that's interconnected when you come back to it, coins like bitcoin that have a purpose, it's been proven out own 14 years now that are going to exist coins that provide stability, ethereum, a lot of these exchange tokens were set up to get around regulation. it wasn't that they were doing nothing. you've got discount on fees or whatnot. we were never big supporters of them because i didn't think there was enough value there to create -- to create sustainable value. >> right >> and so, a lot will get washed out. and some will continue to grow >> mike novogratz, i want to wish you a happy thanksgiving. appreciate you joining us this morning. >> thanks, guys. >>> well, inside this week's oil market volatility, and a look ahea