don't trash sam bankman-fried and then pass his bill. i fear that could happen, because sam wasn't the only crypto borough -- the only crypto bro with pacs and lobbyists. there are none here to work for efficient tax enforcement. or sanctions enforcement. now, i have heard from some on the other side criticizing the fcc. in july in this room i criticize d the head of the enforcement of the fcc for not going after crypto exchange's. the fact is that without objection, i would like to put in the record a letter signed by 19 republican members designed to push back on the fcc. a brush back pitch if you are familiar with baseball. attacking the fcc for paying attention to, quote, the purported risks of digital assets. i would like to put in the record without objection comments from eight members made in this room that were designed to attack the fcc as being a luddite and anti-innovation for their efforts. mr. ray, you are going to be looking at ftx. we know that sam bankman-fried is already facing criminal charges. he did have help. will yo

arjun joins us with more sam bankman-fried, sbf, plans on pleading not guilty.ormer co-colleagues are cooperating and pled guilty. how does that set up knowing he was in a r romantic relationship with caroline? >> first, this buys legal team time to explore other avenues with this case and figure out how they go forward. secondly, it could kickoff the discovery process where sam bankman-fried's team will discover what evidence the federal prosecutors have against sbf. that is the issue for the not guilty plea. it is tough because gary and caroline are the two closest allies in this when it comes to evidence, they may have huge amounts of evidence showing wrongdoing on sam bankman-fried's point of view backing up allegations, remember, they are allegations made against sam bankman-fried and ftx. that is a huge deal that these two in particular are now on the side of the prosecutors. >> arjun, can you give us a sense within the crypto community how people are thinking about bitcoin this year joumanna tweeted an excellent reminder about where bitcoin peaked i think

they will also seek to hear motions from sam bankman-fried's attorneys.e will hear much more in the coming weeks but we will also be looking forward to any changes as it pertains to a speedy trial set for october 2, 2023. dani: the latest on the ftx founder's court case. let's look at markets because there has been a lot of market moving news coming out of china. i will point out what is moving on it, the aussie dollar up 1% versus the u.s. dollar. china is weighing importing australian coal. also looking at the aussie 10-year yield coming in, rally across the space, the best start to u.s. treasury 2001. meanwhile there is weakness in the japanese stock market but in hong kong, stocks are much higher, more than 2%. that's being fueled by alibaba after it one approval. will there be more relaxations when it comes to the regulatory crackdown in china? coming up, we will focus on something closer to home, u.k. inflation jumping to historic levels. we will dani: good morning, this is bloomberg "daybreak: europe." we have the stories as set your agenda. risk o

. >>> sam bankman-fried back in court today. expected to respond if criminal charges of cheating investors out of billions of dollars. >>> plus, apple reportedly slowing down production of key devices as demand falls short of estimates. >>> after a rough 2022 and look of the turning of the tide it is tuesday, january 3, 2023 you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan happy new year let's kickoff the new year and first day of trading with the stock futures. you can see they are solidly in the green across the board right now at this point and it is so early. the first day of the trading year the dow could open up 300 points higher this follows the rough 2022 for u.s. equity investors. for the year, the dow fell 9%. snapping a three-year win streak you see the s&p here ending a three y-year win streak nasdaq down. all three coming off the worst year since 2008. the great recession. it is not all doom and gloom a snapshot of the dow and s&p, they are coming off strong

sam bankman-fried. i was looking forward to that however i was concerned that you're going to testify first i would rather have him testify for so we could qualify some of the statements however. since you have been in here there has been a leak to what would have been his testimony that has come out. i would like to ask you about something that he has related in his testimony. he said if he had not been arrested -- he alleges that ftx u.s. has been and remained solvent. it could've paid off all of his customers tomorrow. given the evidence that you have, what you gather. is there any bit of clues -- >> we still have a hole in the u.s.. and it is not solvent, that is not accurate i'm not sure how you would even know that. how would you even announced that we are hopeful because the number of customers and the volume of trading on the u.s. exchange was much smaller than the dot com. some are driven by the number that took place within the u.s. silo. right now we have a field million dollar value. again,

on to sam bankman-fried.e should be getting a lot of information in the >> few weeks from prosecutors. they do have an october date for the trial. prosecutors have asked for an extra bail condition which is he does not have access to ftx or alameda funds. that is after activity was spotted by blockchain analysts that looked like things were being moved around. we should more -- no more in the next few weeks. and he will have more time to figure out what he wants to do with a not guilty plea. yvonne: and some more talk from u.s. banking regulators about concerns about the crypto industry. >> exactly. you have the federal reserve, the fbi see saying -- the fbi see saying we are concerned about the potential for crypto to's seep into the banking industry in terms of risk. they did issue a letter saying we are watching this and we are concerned about governance issues. we know u.s. regulators are looking at it, not acting quite yet, but that could always be down the road, especially when they are united. david: w

brian: wasn't it similar with sam bankman-fried too?g money to way to great cause. >> the sec investigated bernie five times and never found the ponzi scheme. and fear that he was front running. and sbf was the dog ate the homework which hasn't worked since fifth grade. >> what's fascinating about bernie, she was saying they never checked if he did a trade. his whole strategy was around options. it's calleddal split strike conversion strategy which is insane. apparently they did check the options and found he did no option trading in the u.s. he turned around and said i did it overseas. brian: from the layman, i give you money, i assume you are doing what you say. this guy is buying real estate, sam bankman-fried, in the bahamas. and he's investing in the 17th floor, the corrupt area. you hold the money, i give it to you. he just kept moving it. if the market doesn't fall out in 2008 -- >> i think he's still in business. his big four coconspirators took out $400 million. >> what took out bernie were the european investments. if he staye

and as tyler mentioned, the big story we're watching, sam bankman-fried appearing in court. in fact let's get to kate rooney to explain what we're expecting to happen inside that courthouse >> and so former ftx ceo sam bankman-fried has entered the courthouse in lower manhattan and i'm told that he plans to 34r plead not guilty he is being chargesed with eight counts of fraud. and prosecutors say that he used ftx customer funds to back stop his hedge fund and made political donations among other things he was released on $250 million bond and since then, he is on house arrest at his parents' house in palo alto. the legal team requested that they redact the names and any identifying information about two other people who still need to co-sign the bond. the deadline to do that is thursday his parents have had harassment and threats and received what they call a steady stream of threatening ening correspondens they say that there could be similar intrusions on their privacy if their identities are disclosed. and while they don't need to post the entire bailment, his parents and

he is actually suing sam bankman-fried. he is suing gisele bundchen. suing tom brady. whole thing was a huge crypto pyramid scheme. that is his words in the lawsuit. he, he is actually made some interesting comments about it recently. now here is the interesting thing. he is the chairman of bois schiller, the big law firm he created. two of his major partners are relatives of sam bankman-fried. a guy named -- liz: what? >> they are sam bankman-fried's uncle, james fox miller. major partner at bois schiller. a guy named charles miller, fox miller, also at bois schiller. they both work in the florida office. does this represent a conflict of interest? legal sources say no unless they're working directly on the case. it is an interesting connection here. let's unravel this a little more. james fox miller is married to barbara miller. barbara miller is the sister of joe bank man, sam's father. she was involved in a major charity in broward county, hackathon we reported about. liz: yes. >> for the kids in broward county to have them compete, make money. it is up in the air

sam bankman-fried has been accused of charges.y also sought to modify his bail to include restrictions when it comes to any potential access of alameda wallace. this is of immense end for free has tweeted about. he said he is not done but it is something the prosecutors are separately looking into and we will have more details in the coming days. we will have prosecutors put forward evidence as it pertains to the charges. they will seek to hear motions from sam bankman-fried's attorneys. we will hear much more in the coming weeks. we will be looking forward to any changes as it pertains to a speedy trial. >> a quick check of the latest business flash headlines. foxconn has brought the world's largest -- the official reports that foxconn's plant is operating with roughly 200 had -- 200,000 staff. they have secured enough workers despite a covered resurgence and recent staff upheaval. apples latest slide has pushed its market viability below the trillion dollars. apple shares closed at the lowest in june of 2021 as concern grows. hy

this is bloomberg. ♪ caroline: it was sam bankman-fried's day in court.appeared before a judge in manhattan and pleaded not guilty to criminal charges. he set to face trial in uber. still outside is the one and only sonali basak. what next? sonali: what a it has been. in addition to him pleading not guilty as we expected to eight criminal counts, there's a lot else that happen. they trailed eight has been set for october 2. if everything goes directly -- if everything goes correctly, it's expected to take a number of weeks to play out. in the coming weeks, we expect the u.s. to start resenting their evidence, presenting evidence at greater scale on the charges they have made. then there is the process by which sam bankman-fried and his lawyer set forward their motion. there is a process and things could change before tober, but we did get a lot of information about the nature of what will play out ahead in the timelines we are preliminarily operating on. there was contention in the court. sam bankman-fried came in wearing a suit and sat with his arms cros

they are set to sit down to try to hammer out a deal. >>> and sam bankman-fried back in hot water the accusations by prosecutors that have them looking to overhaul his bail conditions it's monday, january 30th. you are watching "worldwide exchange" here on cnbc >>> welcome back i'm dominic chu in for brian sullivan it is right around 5:29 a.m. here on the east coast here is how your trading day is shaping up with the dow off the first six-day winning streak since october and the nasdaq with the fourth positive week. futures are off. the dow implied lower by 207 points s&p down 37. nasdaq down 155. technology continues to be the epicenter of the late market volatility in the bond market, yields are drifting higher across the yield curve. on the short side, 2-year treasury at 4.2% the 10-year treasury yield at 4.54%. the 30-year long bond at 3.66% >>> u.s. benchmark west texas intermediate below $80 you see here breaking the two-week winning streak last week those futures for u.s. benchmark crude are off 50 cents or .50% similar loss for ice brent crude. down 36 cents to $86.30. natural

now, the media outlets took a ton of money from sam bankman-fried like. [indiscernible] haven't returned the money -- that's stolen money, and they don't seem very interested in how this happened. we are interested. we just finished a documentary, in fact, called "sam bankman-fried, the story of ftx" out thursday on foxnation. here's a preview. >> one of his strategies was to clutter his sent sentences withh jargon so no one understood what he was saying. >> that position was over klattralized a year -- collateralized a year ago. there's a correlated collapse in its assets over the last month. >> i'm no crypt toll currency expert or finance expert but i don't think that you answered my question. >> i have a general rule of thumb, if you cannot explain it to a 14-year-old, that means either you don't understand it yourself or you don't understand and you're trying to confuse the audience for a reason that has to do with your own self-interested gain. >> mr. bankman-fried has been able to confuse interviewers by talking in circles. >> nothing that sbf said

ftx founder sam bankman-fried expected to plead not guilty in court today.uthorities in the bahamas seed billions in ftx assets. what happens to that money? it is over there now. will it come here? i ask fox news legal analyst greg jarrett next. ♪ everyone remembers the moment they heard, “you have cancer.” how their world stopped... ...and when they found a way to face it. for some,... ...this is where their keytruda story begins. keytruda—a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma, which is a kind of skin cancer where keytruda may be used when your melanoma has spread or cannot be removed by surgery. keytruda helps your immune system fight cancer... ...but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain or tenderness, severe nausea or vomiting, headache, light sensitivity, eye problems, ir

they will also seek to hear motions from sam bankman-fried's attorneys. hear much more in the coming weeks but we will also be looking for to any changes as it pertains to a speedy trial set for october 2 2023. i am sonali basak in new york for bloomberg television. francine: that is a latest on the ftx founders court case. let's get to the first word news with laura. >> the eu is moving towards a requirement for masks and pre-flight covid testing on travelers from china. a commission spokesman says a strong majority of countries backed tests, which would go beyond what the eu health authorities recommended last week. any change will need to be approved by eu ambassadors who meet later today. bloomberg has learned that chinese bureaucrats are discussing plans to resume some imports of australian coal. the move comes after a ban of more than two years as relations improve between the nations. china implemented an unofficial pause on imports in 2020 as hostilities between canberra and beijing escalated. particularly over calls for an independent court -- pr

. >>> and sam bankman-fried pleading not guilty. what's next for the disgraced crypto mogul accused of fraud? >>> good evening. i'm raj mathai. this is not normal. not often do we have such rain damage and flooding across the bay area. almost every county facing problems. next up, rain, flooding, wind, and possible power outages. we're talking inches of rain and 40-mile-per-hour winds. you can see just how big this storm is. this is the view from space courtesy of the go west satellite. tonight we want to make sure you have all the information to be prepared. the race is on to clean up and really just to prep now. for a lot of people that meant securing sandbags. check out the line in san francisco. cars just waiting here several blocks long. we saw a lot of people at sandbag filling stations across the bay area. various locations from los altos, menlo park, and san francisco. now, why the concern over the weekend? you probably know this. widespread flooding. that has a lot of people still cleaning up. one of the hardest places hit,

authorities step up pressure against sam bankman-fried's inner circle. waning chip demand macy samsung reported its first consecutive quarterly profit slide in three years. shery: take a look at u.s. futures. marginally higher after u.s. stocks fell more than 1% across the board. we have the caution and anxiety over fed policy. we did get stronger than expected u.s. jobs numbers. a stronger labor market than expected. u.s. companies also added more jobs than expected. it didn't help sentiment when we had the fed representative talking about there was much work to do in order to tame inflation. have the treasury yield rising across the board being led higher by the short and. despite the caution and uncertainty, we did see oil prices gaining ground. this after we so the u.s. crude stockpiles rose less than expected. haidi: take a look at how we are sitting what comes to the first minute or two in cash trading here in sydney. we are seeing a flat start. one quarter of 1% higher when it comes to trading in australia. we have had quite a roller coaster when

there are very serious charges sam bankman-fried is facing. he's suspected to plead not guilty to.ll draw out the trial over many months here in which we will see much more come to light about what happened at ftx. two deputies have already pled guilty to a number of charges from the u.s. attorney's office. guy: do we know how he will fund his defense? >> that's a very good question. similar questions came up with the bond. $250 million. this is from a man who says he has 100 thousand dollars in his bank account. so where did -- where do these millions come from? largely backed by a very small fraction of assets relative to that bond. it's backed by his parents home. we also know separately that his lawyers have asked to conceal the names of the people cosigning on that bond. so he does have financial support here from others prayed we don't know who they are as they are trying to conceal it. a lot of this down to safety and privacy and other reasons but he does seem to have a financial support in some fashion. there are allegations here from authorities, the sec that say sam bankm

sam bankman-fried has decided the opposite, that he can make things better for himself if he dogs.le too glib, but that he can improve his situation by continuing to talk to the press, make himself seem more of a sympathetic figure in all of this. i can tell you that the attorneys for ftx who have been in these bankruptcy hearings and the current management, the new management at ftx that's taken over since he's left, they are sort of, you know, i pad at the poor level of management at that firm, the lack of bookkeeping, record keeping, internal controls of any kind. i mean, you rarely hear this kind of blistering criticism from one set of management to another set of management. i mean, they really feel like sam bankman-fried did a terrible job of keeping track of everything, a, and it's an open question of whether any crimes were actually committed here in the course of all of this. >> cnbc's eamon javers, as always, great to see you here on the show. thanks for that breakdown. appreciate it. >>> back here in washington let's talk about something you may be hearing about like a l

coming up, sam bankman-fried on the verge of entering a not guilty plea. the latest from the courthouse. this is bloomberg. ♪ [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. alix: this is "bloomberg markets ." i am alix steel with amber kanwar. sam bankman-fried is expected to plead not guilty to criminal charges at his arraignment in lower new york. this is one of the high profile fraud charges in recent years. sonali basak is in lower manhattan with the latest. what are you learning? sonali: there are a fair people out here. an hour ago sam bankman-fried walked in wearing a suit and a north face backpack. he will start this arraignment process very shortly. it is expected to start around 2:00 p.m., about 15 minutes from now. he is expected to plead not guilty to eight criminal counts. this would leave the groundwork to continue onward for a lengthy trial process as he faces t

this is bloomberg. ♪ caroline: it was sam bankman-fried's day in court.he ftx founder appeared before a judge in manhattan and pleaded not guilty to criminal charges. he said to face a trial act over. winning us from the courthouse is should know he he. what is next? >> what a day it has been caroline. in addition to pleading not guilty eight criminal counts here, there was a lot else that happen. the trial date has been self -- set for october 2. if everything goes correctly and that does happen on october 2, this is expected to take a number of weeks to play out in terms of the trial that will be later this year. in the coming weeks, we expect the u.s. to start presenting their evidence at greater scale on the charges that they have made. remember there is a process by which sam bankman-fried and his lawyer set forward their motion. there is a process and things could change before october certainly. we did get a lot of information today about the nature of what will play out ahead in the timeline in which we are luminarias lee operating on. -- prelimin

it has memory held its promotion of sam bankman fried. it has conveniently forgotten about his guidance on sri lankan fertilizer on which it turns out the wef is not an expert. none of this ever happened. the slate is clean. so we're ready for yet another world economic forum meeting in davos, switzerland, which is under way now. the event kicked off with 84-year-old founder of the wef promising to, quote, master the future. >> we couldn't meet at a more challenging time. we are confronted with so many crises simultaneously. what does it mean to master the future? i think to have a platform where all stake holders are engaged. >> tucker: we just master the future. master the future. so master the future is now the top item on the to do list at the world economic forum this year. that's the first clue these people are not living the same life you are. by the end of this week you'll have to find some time to get an oil change or pick up some dandruff shampoo. how are they going to do it? they're going to do it with john kerry who, despite p

the story the new york post is reporting on bill and hillary clinton to rise of sam bankman-fried andes, government e-mail should the cdc demanded facebook sensor content about the pandemic, tim burchett from house foreign affairs on "the evening edit". new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. hi. i'm charlie kirk. i started turning point usa to do the work to help save america. we are america's fastest growing conservative movement. right now, the world economic forum and global elites are planning the great reset. their sinister plan to destroy our economy and redefine your freedoms. that's why i want to send you my exclusive book, the american response to the great reset for a gift of any amount. this book takes you behind closed doors to reveal their radical agenda and arms you to fight back for the future of our beautiful country. join the growing number of co

. >> a third member of sam bankman-fried -- sam bankman-fried's inner circle is set to seek a cooperationl in the collapse of ftx. any deal would leave sam bankman-fried isolated after the ftx founder pleaded not guilty last week to aid criminal courts. bloomberg has learned apple will ditch a key broadcom chip from its devices by 2025 as part of its push to use more homegrown components. sources say apple also plans to have its own cellular modem chip in action by about the same time. apple is broadcom's largest customer, accounting for about 20% of the chipmaker's revenue last year. bloomberg sources say bhp group has struck a deal to sell australian coal to a chinese firm in the latest sign of easing trade curbs between the two nations. bhp sold two shipments of metallurgical coal to china for loading in late january. china slapped an informal ban on china -- australian coal in late 2020 as relations soured. tom: thank you very much indeed. time to check in on some of the movers. one of the stories laura hit on was the story around apple and its attempt to replace chips by broadcom by

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sam bankman-fried, speaking of which, his charitable donations under fire.ack? charlie has some news on that a to break when we come back. closing bell, 14 minutes away. so the dow is still down 110 points, the s&p just slightly lore, i'm going to call it flat, but it's down just about half a percent at the moment. nasdaq's up 78. ♪ ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. just a moment of your time, everyone! (whispering) keep it together, turkey. singlecare, the app that truly helps you save on your meds. is that... yeah, he's here every day. do you use singlecare? no, i have insurance. oh, singlecare can actually beat your co-pay. singlecare can also beat the price of your medicare plan. did you know you just search your prescription in the singlecare app, and show your coupon to your pharmacist... best of all, singlecare is free to

now, a lot of that came from sam bankman-fried, right? >> yeah.at kind of true influence is there going to be? some of these folks are going to be too embarrassed to do anything knowing they took money from sbf. >> yeah, i do think there is some embarrassment for those who were working closely with sam bankman-fried. but the political giving comes in two flavors. there's the type that sam bankman-fried was doing largely through a series of sophisticated superpacs, and and then there's the kind of giving that everyday americans are doing where they want to go to a fundraiser because they want to get to know their congressman and talk about what they're building in the crypto ecosystem, and that's a very different use than what we saw with the charges that now have been filed against sam bankman-fried. you know, i think going forward that number's going to drop quite a bit this year, but hopefully we'll have good considerations -- charles: i said watch for $7.2 million this time around. you're doing a great job representing the industry. public dema

sam bankman freed has just -- sam bankman-fried has just pleaded not guilty to 8 counts of fraud, losingion of customer funds. charlie gasparino breaks it next on what is going to happen for the fallen crypto star. what are the next accepts? we're live in -- the next steps. we're live in san diego. the famous boardwalk along the pacific ocean. closing bell ringing in # 1 minutes. dow is now down just 35 points. "the claman countdown" is coming right back. i'm a new york hotel. yeah, i'm tall - 563 feet 2 inches. i'm on top of the world. i'm looking for someone who needs a weekend in the city, who likes being in the middle of it all. you hungry? i know a place, and a few others nearby. it's the city that never sleeps. but hey, if you need a last-minute spot, i got you covered. at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hr today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ . . if you have diabetes, then getting on the dexcom g6 is the single most important thing you can do. it eliminates painful fi

sam bankman-fried's lawyer did not return calls for comment. liz: charlie, thank you very much.rritory for the week. the nasdaq was the one holdout. now all three majors will end the week in the green. let's bring in our countdown closer. we may see a .50 basis point hike at the next meeting. .50 basis points really? >> absolutely. you saw that job report. there is too much strength in the job report. the feds will have to keep the pedal to the metal and push rates higher. liz: what do you buy in this atmosphere. >> the fed is giving us a gift right now. the short duration high-quality ponds at 4.5%. let's ride out some of the volatility in the stock market and take advantage of these attractive yields. liz: everybody is talking about technology. do you think it rears its head this year? >> technology is the best place to buy growth. i think having growth in your portfolio makes sense right now. liz: happy new year. everyone should come to ces at one point or another in their life to see all the technology that is here. what a great first week of january. dow jones ending the se

according to sam bankman-fried. the only option the management and say bankman-fried had was to buy him out. at an extraordinary evaluation of close to 32 billion. less apparently a 15% discount. that's stripped of the balance sheet of assets. you ask me why it went bankrupt? go to the last week. all of a sudden, in social media, cc is asking for another $500 million. he wants to do a block trade of f t t. or the proprietary token of ftx once a court of a back to feet. why would you put that out there. you know it's going to push down pressure. gonna push and the value that coined a medically. that's exactly what happened. every trader knows of have a large block chain, you -- negotiate a clearing price of other buyers who do the transaction. in my view, my personal opinion. these two behemoths that own the unregulated market together and grew these incredible businesses in terms of growth. we're at war with each other. one put the other out of business intentionally. maybe there's nothing wrong with that. maybe ther

that's good stuff, all right next case sam bankman-fried post ed a statement online to try and defendlf from the allegations he's facing. in a post, he said, "i didn't steal funds and i certainly didn't stash billions away. nearly all of my assets were and still are utilizable to back stop ftx customers. i have, for instance, offered to contribute nearly all of my personal shares in robinhood to customers." his defense seems to be, i didn't do anything wrong. todd: i'm not saying lawyers are always without fault, but from joe biden to sam bankman-fried, stop writing and saying your own statements. let your lawyers do the work, because even right now, just sitting here amongst the three of us and the nation at home, he may have said something in there the prosecution is going to take and hurt him with so if i'm sam bankman-fried, just stop. if i'm joe biden, just stop making admissions against interest at this point because you and i well know. none of the shenanigans you've reported on this show with regard to ftx happened unless sam bankman-fried knows of it, and in your experience i

and sam bankman-fried outlining the case didn't steal billions of dollars, leaned into the idea a leverage much money risk. likened it to lehman or mf global despite what's been said phi ftx and those responsible for restructuring the company absolutely trying to shift public perception and a story around bitcoin prices but analysts say a lot of kbad newsd priced in. correlated to what's going on in the macro environment. things like cpi. running out of suell us, bad nes pricesed in, bottom around $1,500 to be exact 's and looking now at rates. things like the dollar and bitcoin's data to tech stock seems to be more important in terms of driving the crypto price narrative than sam bankman-fried, being absolutely newsworthy and catching headlines. >> no question about it. nasdaq up 4% this week bitcoin tracking that ark innovation fund, feels all correlated thank you kate rooney. >>> hit thes banks kicking off earnings season with bank of america, jpmorgan, citi group tete sew release results before the bell. ipo activity expected to weigh on their performance while long, lost reserves coul

. >>> i just want to let you know sam bankman-fried left the courthouse moments ago he's entered a not guilty plea there he is in his suit, no tie. definitely different than the usual shorts and t-shirt we're used to seeing him in moments ago in new york leaving the courthouse of course, he's free on bail, $250 million bond they have secured following his extradition from the bahamas he has pled not guilty to the charges against him. >>> we look at tesla, picking up where it left after last year. our next guest says there could be more downside ahead the stock is down almost 13% today. you'll hear why right after the break. we're down 100 points on the dow. "closing bell" back in a moment. be more downside ahead >>> welcome back to "closing bell." tesla kicking off. it fell short of delivery targets. roughly 1.31 million vehicles delivered in 2022. that's around 91,000 fewer than expected tesla tanked more than 52% last year alone let's bring in the north capital research capitalist. clearly you think there's more room to fall i do wonder why such a big reaction today on top of all the

if found guilty, sam bankman—fried faces up to 115 years in prison.t, including with the bbc, sam bankman—fried denied looting customers money. meanwhile, two senior ftx executives, caroline ellison and gary wayne, pleaded guilty to fraud charges and both are cooperating with federal prosecutors. for now, the former crypto king has been living with his parents in california since his release on bail. stay with us on bbc news, still to come: how do you fancy a meal cooked by a robot chef? it's a real thing coming to a restaurant near you. the most ambitious financial and political change ever attempted has gotten under way with the introduction of the euro. with the introduction of the euro, ., ., ., with the introduction of the euro. ., ., ., ., ., �* euro. tomorrow in holland we're auoin to euro. tomorrow in holland we're going to use _ euro. tomorrow in holland we're going to use money _ euro. tomorrow in holland we're going to use money we - euro. tomorrow in holland we're going to use money we picked i euro. tomorrow in holland we're| going to use

trade information, i could not get answers to many of the executives on the firm i simply called sam bankman fried and said where's the money, sam? he said he had been refused access to the servers he no longer knew it okay let's step back for this is simple case in my mind worded the money go? is it cm walked me back 24 months. tell me the use of proceeds the assets of your company, where did you spend it? and then he told me about a transaction that occurred over the last 24 months the repurchase of his shares from his competitor. i did not notice at the time but at some points by nancy purchased 20% ownership in sam bankman fried firm for seed stock and then over time i said what would compel you to spend 2 billion was in a breeze give me at the time. later in that substantive conversation could have been as much is $3 billion to buy back the shares. i asked him, what would compel you to do that? why wouldn't you keep your assets on your balance sheet? why would you just offer this to one shareholder he said because every time we went to get license in different jurisdictions you must und

sam bankman-fried is expected to plead not guilty to fraud charges. despite a paper trail, apology tour. miscues and his former girlfriend throwing hip under the bus. john deaton to bring that down. gut wrenching moment during the buffalo bills game, bringing entire country to prayer. damar hamlin is fighting for his life and what that could mean for the survival of the country. all that and much more on "making money." >> no need to remind everybody just how brutal 2022 was. in fact so many ways it was cruel as well t was orderly. think about this every now and then, gave us hope, gave investors hope. there were several bear market rallies. four months actually saw the s&p 500 rally more than 5%. but when those rallies failed the ensuing selloffs were harsh, resulting in six months or more of 6% declines. when the dust settled, at the end ever the year worse for the market since end of world war ii. wall street entering inner optimism flow. albeit a tiny rally. maybe they're betting the odds. since back-to-back down years is so very rare in the stock

it matters in crypto currency in crypto exchange. >> you don't know what sam bankman-fried has to do ers there. but the department of justice is helping hundreds of millions of dollars missed used by sam beckman freed, defense targeted contested shares of robinhood, then call back money and silver gate capital accounts the indictment of illegal campaign donations including using other names to donate more than the law allows. much of the money directed at democratic candidates, his executives donated to some republicans, those donations to campaigns as well as charities were sam beckman freed directed the money could be taken back by the feds. already some of the charities and political groups are saying the money has already been spent so this could get very messy in terms of trying to get back some of the money for the investors who were cheated. stuart: very messy and guaranteed. back to the market, and business for 25 minutes and full of red ink the dow is down 330, nasdaq down 120, look at microsoft. the ceo of microsoft just said he's going to get two years of pain before we get

. >>> sam bankman-fried pleaded not guilty the trial will begin october 2nd. the judge approved bankman-fried's motion to seal the names of two people who guaranteed his release on bail with the bond and the judge agreed with the defense attorneys that the visibility of the case posed a risk to his parents. do you have any idea who they are? >> i don't know. i don't know where nbc is in this the judge effectively said he was very open to it, who i imagine are going to be asking for access to the names. and he said that he imagined they were going to come forward. it wasn't so much like i really want to protect these folks. it was that i'll do this for now, but somebody else is going to show up with another argument and we'll re-evaluate it then. i would be very impressed if we did not know these names in short order. >> it was also funny watching on twitter who they're speculating it could be. >> oh, yeah, but i don't -- >> i won't throw any of those naples out there. >> what was the best one you're not saying it on international tv i'm the opposite we're goin

sam bankman-fried heads to court today. what he's expecteo >>> and looted treasure returns. an ancient egyptian coffin on display in texas is repatriated. bye, bye cough. later chest congestion. hello 12 hours of relief. 12 hours!! hmmm, ok. not coughing at yoga? antiquing not coughing? not coughing at the movies?! hashtag still not coughing?! aaah. oww! mucinex dm gives you 12 hours of relief from chest congestion and any type of cough, day or night. it's not cough season. it's always comeback season. my active psoriatic arthritis can slow me down. now, skyrizi helps me get going by treating my skin and joints. along with significantly clearer skin, skyrizi helps me move with less joint pain, stiffness, swelling, and fatigue. and skyrizi is just 4 doses a year after two starter doses. skyrizi attaches to and reduces a source of excess inflammation that can lead to skin and joint symptoms. with skyrizi, 90% clearer skin seriourgic or a lower abili and less joint pain is possible. u ha ection or symptoms, with skyrizi, there's ccinothing like the feeling of improving my skin

here is sam bankman-fried arriving a little while ago. he founded ftx.was once known as the king of crypto. he was based in the bahamas and as late as october he had a net worth estimated of more than $15 billion. ftx which allowed customers to trade cryptocurrencies such as bitcoin filed for bankruptcy november 11 after a surge of customer withdrawals. according to the court filing ftx owes its 50 largest creditors almost $3.1 billion. amongst the most serious allegations against mr. beckman freed -- mr. ban-fried is that he used clients invests to assist the company --. our north america business correspondent brought us up-to-date. >> there have been speculation building up to this appearance. this was only the second time he has appeared at a manhattan federal court since he was extradited from the bahamas. that was the last one in december. he is here again this time to face charges. we are expecting him to enter a plea. as predicted it was a not guilty plea. if he is convied of all the charges he faces, he could end up5 ars in w jail. clearly his d

sam bankman-fried was on an island and may literally and figuratively be on an island now.you. >>> meantime, president biden is set to meet with the leaders of canada and mexico in mexico later on today the three expected to tackle a number of key economic issues with tensions lingering in the background ahead of the sit down kayla tausche is here with more on the areas they plan to focus on >> reporter: brian, the meeting will touch on migration to fentanyl and climate change and policy deliverables later today. with lopez obrador with investments on chips semiconductors will, in fact, be a focus according to john kirby. >> we will focus on the world of high tech semi conductors and making sure there is enough resilience in the supply chain so the three countries can sustain in those supply chains we saw how it happened over the covid pandemic >> reporter: behind the announcements is a bit of acrimony president biden and president amlo as he is known, is expected to tackle the an energy business ta dispute. shutting out foreign investors and breaching the trade agreement.

how we might hear which donors helped sam bankman-fried pay the bail bond. is back with those. >>> brian, apple executives are accused of violating labor laws after making remarks and setting rules that curbed employees efforts to address the workplace issues and labor rights. this is according to the new report from the labor relations board. this comes after the nlrb announced ithad evidence that apple used anti-union tactics to stop unionization efforts by employees. >>> the judge named two people who helped sam bankman-fried should be made public. the public had a right to know who sam bankman-fried's sponsors were, but outweighed his argument for confidentiality the ruling is on hold pending appeal. >>> and the biden administration announcing funding for transportation projects funded by the infrastructure law. the $300 million grant project to help complete the early phase of the delayed hudson tunnel to improve travel with new york and new jersey the president will visit new york city later today. brian, that tunnel could use work. >> if you go throug

kate, good evening >> lester, sam bankman-fried arrived to federal court today in manhattan where he pleaded not guilty to eight counts, including fraud. prosecutors allege the founder and former ceo of the collapsed cryptocurrency exchange, ftx, cheated investors out of billions of dollars, money that's still missing, but today the justice department announced a new task force dedicated to finding those funds and getting money back to victims legally bankman-fried could be facing an uphill battle. two of his top associates have already pleaded guilty to their own charges and are now cooperating with authorities. bankman-fried's trial is expected to start in october, and if he's found guilty, he could spend the rest of his life in prison. lester? >> all right kate rooney, thank you. >>> up next, against all odds, a dramatic story of survival and rescue. >>> plus, the new warning about cannabis edibles and kids >>> a remarkable rescue in northern california a tesla plunging about 250 feet off a cliff and landing on the rocks below. two adults and two children were in the car. all were