and just going back and looking to remember, ryan saleme, there were pro-crypto candidates that he was. when sam was giving he said this was a matter of pandemic preparedness and all tourism -- altruism. but not a matter about crypto. ryan had donated to very praying -- plainly a lot of candidates with ties to donald trump. they had different rationales for why they gave, so it is hard to tell what the motive was. ed: such deep reporting on what has been an endless saga and you will be back for more. coming up on bloomberg technology. keep on trucking. the private -- the founders of the self-driving unit of volkswagen started their own startup. this is bloomberg technology. ♪ - [mo] if you're thinking about going back to school, this is for you. ♪ - i ended up spending less money my entire time at snhu than i did in just one year at my other university. - [juan] my time at snhu has given me more confidence. now i can go for that promotion. - if you're ready to go back to school... you can do it. southern new hampshire university has changed my life. and it can change yours too. ♪ - [an

sam bankman-fried's trial is kicking off in early october, but ryan salem officially pleading guilty to those criminal charges. >> okay. kate, thank you. kate rooney with the latest there. >>> shares of apple trading lower, extending losses on the back of china's reported iphone ban for government officials. that stock is suffering its worst back-to-back days in roughly three years. my next guest, though, thinks the setback in china among other headwinds are overblown. joining us live at post nine is wedbush's dan ives. good to see you. let's take the movement in the stock, in and of itself. what is happening? >> i think the biggest fear for apple has been the china exposure. i think the worry is that they were ultimately go to be caught in this cold tech war between u.s. and china. i think when you look at these reports, now it is 20% of iphone sales, 98% of actual production, could this disrupt the golden jewel of the cupertino growth story. >> could it? >> in my opinion, based on the work we have done, i believe this is -- would i quantify it in terms of what it could be, i think

former ftx exec ryan salem joined ftx in 2019 and was a prolific little cool donor.sche, opened restaurants while on the job. he was the co-ceo of ftx bahamas subsidiary. he report -- he reported to court with bitcoin socks. also admitted in court to making roughly 24 million in donations in support of republican campaign, saying he knew it was prohibited by campaign finance laws and the money came from alameda's account, not his own. as part of the plea deal he pled guilty to two counts, one count of finance violations in another counts of money violation. he agreed to surrender more than a billion and a half and assets. the plea deal, this is what many were speculating, would he or would he not testify against sam bankman-fried. the deal does not include a promise to testify. sam bankman-fried was arrested in the bahamas in december of last year. what is fascinating as a result of bloomberg reporting is that it was ryan salem when the initial issue first came to the floor in the bahamas, who are initially contacting bahamian officials and specifically reported that

ryan saleme could be sentenced to up to ten years in federal prison. comes less than one month before bankman-fried is set to begin trial in a federal court for charges including wire fraud and conspiracy. >>> and gatorade is introducing a new less colorful beverage to its lineup -- water. the pepsico-owned brand is trying to break into the functional water category with this version that's unflavored and infused with electrolytes. the company says gatorade water was developed to support all-day hydration for active people. it hits shelves next year. >>> that's your cbs "money watch" report for this friday morning. i'm shanelle kaul, cbs news, new york. >>> coming up, chaos at the u.s. open. protesters delay the women's singles semifinal for close to an hour. what they were fighting for. an hour. what they were fighting for. toto duckduckgo on all your dee duckduckgo comes with a builtlt-in searchg but it doesn't spy on your sec and ouour browser blocks creey ads that f follow you u around and otother compananies. anand it's freree. download duk lookin

. >>> former ftx executive ryan salem pleading guilty of money transmitting crimes.to making millions of dollars in political contributions ress under his na. salem agreeing to forfeit more than 1$1.5 billion as part of te plea and faces a maximum sentence of ten years in prison, frank. >> silvana, thank you. >>> turning attention now to the luxury space of. a number of europe businesses taking a hit over the continued and growing worries of the chinese economy. robert frank has more on the story. robert, good morning. how big of a drop? >> pretty big, frank. luxury stocks losing $150 billion in market cap just over the past six months and dragging down p a lot of the european luxury space. lvmh lost the market cap. it is no longer the largest company. you have gucci and richemont as well with losses. china's slowing economy and the property crisis and youth unemployment and falling consumer demand is expecting to hit consumers there. hsbc saying in the research note saying sales in mainland china are bound to decelerate. many hoped wealthy chinese would be immune to

. >>> former ftx executive ryan salem pleaded guilty in new york federal court yesterday to campaign2021 and 2022, he steered tens of millions of dollars of political contributions, says here, to both democrats and republicans, i guess, in his own name. when the money actually came from alameda research, the hedge fund arm of ftx. he says they were made at the behest of sam bankman-fried. in bankman-fried's trial is set to begin on november 23. >> there have been a number of former ftx executives that have agreed to cooperate with the government in this case against sam bankman-fried. ryan salame had been holding out and wasn't going to, so this is a new development that he's actually pled guilty as well, agreed to forfeit $1.5 billion. i still can't figure out where the heck he got that money. but agreeing to all of that. >> it appears that none of these people are going to have prison time at all. >> that's what it sounds like, and that must have been part of the negotiation. >> clearly. >> they must be offering all this. >> i think they're all going after one guy, which is -- >> s

i want to bring in nbc news correspondent dasha burns in salem, new hampshire, former aid to republican speakers paul ryanbuck, and democratic pollster fernand amandi. what are we expecting to see in new hampshire today? >> reporter: we're going to see all the folks you just mentioned vying for votes in new hampshire. this is a state where voters here have a lot of scrutiny. they are independent voters. a lot of folks here very independent minded. they're going to be watching closely to see what those folks have to say. it's going to be interesting because we are going to have mike pence is and vivek ramaswamy, when those two have been locked into little bit of a battle with pence consistently going after ramaswamy. it started on the debate stage, and it spilled over to the scam -- campaign trail. take a listen to what he had to say, mike pence recently. >> i don't have a problem with vivek. i met him a couple of years ago, he's a good man, a good family man but he's wrong on foreign policy. he kind of goes one direction and then goes back another direction. i don't know how we fully back and then say tha