caroline: why don't we ask that question to our correspondent, sonali basak? what are you noticing about the trends we are seeing, knowing that that is from last quarter? sonali: what are those names? we are getting the answers from the likes of berkshire hathaway who have bought into chevron. we also know berkshire hathaway has about into activision right before the deal was announced. that is another gainer that has come up. one are other big names? they are not as you would always think. there is one of the buys of viking. you have at&t, which was positioning wise, one of the biggest pies. hertz global which is down significantly on the year, another huge by of one of the funds in the aggregate last year. my personal favorite, since we are talking about hertz, talking about david. one of the top paid money managers of the year has made a lot of money, and the large concentrated bet on avett which is down less. caroline: which they have been betting on for years. finally it paid off. good thing we had those numbers coming out today. i am interested in what t

ceo and founder max levchin along with sonali basak. sonali: i'm wondering if you can bring us inside the conversation you are having with investors and why such a muted reaction as you were trying to pivot your business. is there something you are communicating with them on how quickly you can pivot and when it will start the payoff for them? max: i am not trying to pivot our business at all. my long-term investors have been externally supportive and appreciative of what we have done. the market is having a bit of an identity crisis, as you just covered. we are not. we deliver and continue to deliver and forecast exceptional great. look at the last quarter's numbers. 20x merchant coverage. better than 100% each. the thing the conversation you were alluding to is the question of you are growing but where's the revenue. we grew by 77%. that should give you a good sense that as we scale these giant partners we also improve the unit economics. over a long time business that grows at 100% plus or plus or minus rate and improves the economic

time for the crypto report with sonali basak. what you make of that? sonali: what is interesting is it is a matter of time in that you have the sharing economy first that has not adopted crypto into big way, but the creator economy, which is the next step of the new economy, doing a lot faster of the transition when you look at companies like twitter looking at ways to tip people over the platform. how does this at the end of the day help people make a living? and thinking of a conversation with someone you know over at a firm and when i talking about the payment method of crypto, he was doubtful about the immediate use for payments. but another aspect he brought up, emily, is the ability to save. as a storage mechanism, as a place to invest, as a place to build wealth as a opposed to a place to create wealth. emily: crypto is everywhere now and not just on uber's mind, but taking over the super bowl. so many crypto ads this year. one is giving crypto away to viewers it could add up to hundreds of thousands of dollars per giveaway. sonali: it is a big

joining us is ava labs president john wu along with sonali basak. bitcoin spiking now. talk to us about what you see driving these moves based on what's happening in ukraine and russia? >> ironically, i think bitcoin has rallied on the false-negative -- false narrative that crypto is a different avenue for russians to move around. that's absolutely false and incorrect. people like to hold onto this old narrative that bitcoin is a black box and censorship resistance. people forget crypto is transparent. it is not a black box. it's actually like an open box where everyone can look inside, see the transactions, and be able to decipher if there are abnormal movements around. i think there has been speculation that caused bitcoin to go up recently. the reality is it's not a good way. emily: are you saying bitcoin should not be rallying to this extent? >> to the extent it is rallying, the good reason is because crypto has been able, with speed and efficiency, been able to raise over $20 million for ukrainian families that need it. it does highlight the technology in a differe

thank you for joining us, as well as our own sonali basak. coming up, apple store employees are quietly working to unionize. two locations already being supported by major national unions. more next. ♪ emily: google and meta are facing a possible data doomsday in the european union. the watchdog could make a decision that would paralyze transatlantic data flows and risk billions in revenue for the two companies. this has to do with contract terms used by meta, google, and others to legally transfer user data back to the u.s. both companies have said this is necessary to the business and are pushing back. meantime, apple store employees at some of the locations across the u.s. are working to unionize. i want to bring in mark. how far have they gotten? looks like we are having some trouble getting mark there. on this push for apple employees to unionize, my understanding is that having gone that -- it has not gone far but discussions are in progress, not unlike what we have seen at amazon, where employees are also trying to unionize. certainl

also joining us is sonali basak. when i think about the constant concerns of supply out there, we are always looking for solutions. how should we think about what you been working on, how it plays into that solution? jocelyn: great to be with you. i appreciate the opportunity. you hit the nail on the head. we have been dealing with a shortage of affordable housing for decades in this country. pretium really is leading in this area to be a part of the solution. we are bringing private capital to bear on one of society's greatest challenges. we are not only investing in existing inventory, we are also creating new inventory through our build to rent program. both of those solutions combined are what we are offering to address this problem. sonali: i realize you just joined pretium, so congratulations, but last year, pretium had nearly doubled in size. people don't realize, pretium bought thousands of zillow homes. coming off of that massive growth, the idea that 75,000 homes are under the purview of pretium, what does

sonali basak as well. i want you to take it away with sam. >> i think the situation in ukraine is an interesting example of where storage centralize could be applicable. could you explain what is happening when it comes to ukraine, and the types of information you are able to store in a decentralized way? sam: yes. we think in order to learn from the past, we need to store the past and such a way that it will not be altered over time. we have a ledger that is decentralized in nature. storing hundreds if not thousands of places across the world. that storage with a sustainable endowment. essentially what that has done is it has created an archiving box, putting approximately a million pieces of data a day, and replicating it around the world so with it cannot be altered. sonali: 10 -- caroline: can you tell us about whether or not we are already seeing your technology being used? how are you deploying effectively an ability to ensure that what is currently being written in history remains so? sam: we use cr

sonali basak joins us now. i have to say i was one of the people who clicked on the qr code and went to the coinbase website. and here we are talking about it. is that success or not? sonali: you have the chief product officer a coinbase saying they had the most traffic ever had, and you are seeing it in the numbers when it comes to coinbase. they are rising. they have risen very far, in apple up to number two. cannot see another couple company, another crypto exchange and a top five, let alone the top 10 or the top 20. if you do not count the county cash app for the apple app store. so in that way it is a success. but with all that said, you are not seeing a surge in bitcoin crisis -- prices that go along with all these potential new users. you have coinbase giving away $15 to new users, millions to existing customers as gratitude, but bitcoin prices itself as a result of all these promotions and these other exchanges has not risen even $1000 over the last couple days, even with a little bit of declines. so wh

bloomberg's sonali basak joins us now. i got to say, i was one of the people who clicked on the qr code and went to the coinbase website. and here we are talking about it. is that success or not? sonali: it is interesting when you think about what happened there. you have the chief product officer a coinbase, saying they had the most traffic ever had, and you are seeing it in the numbers when it comes to coinbase. they are rising. they have risen very far up in the app store for apple, up to number two. cannot see another couple company, another crypto exchange and a top five, let alone the top-ten or the top 20, if you don't count the cash app, for the apple app store. so in that way it is a success. but with all that said, you are not seeing a surge in bitcoin prices that go along with all these potential new users. you have coinbase giving away $15 to new users, millions to existing customers as gratitude, but bitcoin prices itself as a result of all these promotions and these other exchanges has not risen even $1000 ov

sonali: i'm sonali basak i'm a off today. romaine: looking at your screen you are seeing a market moving a little lower on some anxieties over what the current diplomatic status is between russia, ukraine, and the rest of the world. the s&p 500 is moving lower as we speak. a pretty big weakening in the ruble versus the dollar. you are seeing a lot of defense contractors including lockheed martin, nor

joining us now is sonali basak. what are they saying? >> with $5 billion in losses, they held the lion's share of those losses. this is because they were later to unwind these losses that came first at morgan stanley. sources have told bloomberg that credit suisse representatives last week held a presentation at the southern district of the u.s. attorney's office. when you are involved in an investigation, everyone tends to give over information. the information being given to authorities is a little bit above and beyond their routine cooperation you would see from the banks. it makes sense in terms of credit suisse's attempt to recoup their losses. greg: how does this filter through the industry, what is the reaction? sonali: a big reaction. the question was how credit suisse would respond to what happened. not only did they suffer those losses, stocks took a massive hit, executives loss of jobs. when people look at this incident, they think about those specific trays themselves, what happened when it came to viacom, gsx, but also how t

here to talk about it is sonali basak. >> if you take a look at this chart, you can see the ups and downs that bitcoin had gone through. where microstrategy has bought in is the average price of $48,710. that has led to an impairment charge of $147 million. remember, these are accounting changes. you have investors who may not be comfortable with the swings. microstrategy is an investor in bitcoin, double down on the depth and bought $10,000 lower at $37,865 per coin. that is closer to where it's trading now. that would still be a slight loss today, but let's see where it goes later on. one thinks that microstrategy witches is declined 50% on the year -- which has declined 50% on the year could be $950 per share. getting comfortable with what looks like to have the biggest corporate holding of bitcoin and starting to get comfortable with investors on with investors on what those impairment charges look like as they flow through the income statement. emily: followings -- following bitcoins downward trend. what about the move that we are seeing for microstrategy's investors? >> if you are c

sonali basak is here to discuss. >> we have a nice bounceback and bitcoin asset prices. stabilizing at around $44,000. it has been on a tear for the past week or so. we have a big rise. i want to point out not just going, but -- it's a good day to talk about stablecoins. we have a real rise in tether. it is affiliated with that connects where the doj seized money and bitcoin stolen from a hack and lawmakers were talking about stablecoins today. emily: regulators and lawmakers have been trying to make sense of the crypto landscape. earlier, the house financial services committee held a hearing to talk about that and more. the sole witness at the hearing made the case that they need to oversee stablecoin issuers. our guest is a senior counsel. >> thank you for being here. take a listen quickly to something that was set. specifically, this is about technology firms and engagement in cryptocurrencies. >> the issue of the separation of banking and commerce. something the congress has grappled with for many years. in this case, we believe stablecoin as a payment instrument sho

sonali: stephanie cohen, thank you so much. joining us from goldman sachs, along with sonali basak. kriti: we have some breaking news. president biden looking to give remarks about ukraine and russia at 2:00 p.m. eastern, so we will wait to hear the update when it comes to the geopolitics. speaking of geopolitics, let's combine that with travel. what is the impact the crisis in ukraine having on the hotel in dustry? we will talk with mark coppola's mania and -- mark coppola manzi and -- john: this is bloomberg markets. coming up on uber: balance, an exclusive interview with amtrak ceo stephen gardner. that's at 12:00 p.m. in new york, 5:00 p.m. in london. this is bloomberg. ♪ kriti: the travel industry is rebounding from the coronavirus pandemic. now it faces a new crisis, the one in ukraine. joining us now is the president and ceo of one of the largest hospitality companies, mark hoplazanian of hyatt hotels. talk to us about how geopolitical tensions in russia and ukraine are affecting your business. what are you looking for and how are you thinking about it? mark: kriti, thank y

joining me now is sonali basak. what do we know about this new crypto cyber czar? >> she has been with the department of justice for almost 10 years. spending the vast majority of time looking into cybercrimes, money laundering, dark web issues. no surprise that she got this leadership role which is a point person among all the different agencies. crypto touches so many different aspects, new laws that we normally have. you have an sec point person for crypto. the irs has a point person. it's getting everyone on the same page in policing and looking at all of the kinds of illicit activity. emily: does this mean we are getting closer to tangible crypto regulation? >> this is more on the enforcement side and getting people on same page as far as policing the issues. as they go through the enforcement cases, they look at the kinds of regulations that can help them better comply with anti-money-laundering rules. knowing your customer, bank secrecy stuff. as that continues to grow, you get a bit more case law on the kinds of things the government is interested in. >> ho

here to talk about it is sonali basak. >> it's interesting to see how microstrategy has written the ride of bitcoin. you see the ups and downs bitcoin has gone through and where microstrategy has bought in on the average price of $48,710 of last year. that has led to an impairment charge of $147 million. remember, these are accounting changes. you have investors that may or may not be comfortable with those swings. some are more comfortable than others. microstrategy is an investor in bitcoin, did double down on the dip, bought bitcoin about $10,000 lower, around $37,865 per coin. that is much closer to where it's trading now. that would still be a slight loss today, but let's see where it goes later on. if you look at what btig says about microstrategy's holdings, they think microstrategy, which has declined about 50% on the year, could eventually be about $950 per share. so getting comfortable with what it looks like to have the biggest corporate holding of bitcoin and starting to get comfortable with investors and what those impairment charges look like as they flow through the income

let's bring in sonali basak to talk about this and everything else. great to see you on the show. credit suisse has got problems in terms of talent retention. we see huge turbulence within the business. changes at the top, forced by covid rules being broken. now we have regulators coming in and saying actually, bonuses may need to come down a little bit. how does credit suisse hang onto talent at this point? sonali: it has been a difficult year. we have seen a pit -- a fair bit of attrition last year, including in businesses that credit suisse had been doing well. that includes in the advisory business where they have long been a top 10 m&a advisor. and also in their prime roque ridge business where we have seen people step down in the wake of archegos. they were fighting down and equities. where does the future businesses go when talent is strained and the bonuses are likely to be down 10% because finra is concerned? as you know, suisse regulators are the toughest in the world. they want to keep his capital buffers really tight. it does leave a lot of questions for talent. it was