reporter:[inaudible] sec. raffensperger: no. we knew where it was headed. we wanted to make sure it was what it would be. now we are under 10,000 votes. a we look at how many this person has an add all 2002 it -- and add all 2000 to it. reporter:[inaudible] sec. raffensperger: voters have their free choice to vote all three methods. no excuse absentee voting. if you want to get your request in soon. early voting will be on an abbreviated schedule, five days plus. most likely, saturday and some counties will do a sunday. that is their choice. or election day, tuesday december six. we give voters options in georgia. they get to choose which one they like best. it is what it is. we have a full week runoff period. candidates are working on that and that is what we are working on today building. reporter:[inaudible] sec. raffensperger: our team and the counties have shown that they can perform at the highest level. every secretary of state takes pride in what their election office says. we were yesterday looking at

sec. jean-pierre: i have thanksgiving cookies for all of you. happy holidays. [laughter] reporter: are these from the white house or did you break them yourself? sec. jean-pierre: sure. [laughter] it would be quite impressive. good afternoon, everybody. today, i am joined by dr. ashish jha and dr. fauci. dr. fauci is retiring next month and i am honored to have him join me today. one last time, one more time at the podium. he is going to discuss the importance of getting your o.a.t. -- updated covid vaccine shot ahead of the holidays. for so many americans, dr. fauci has been a source of information and facts. dr. fauci's leadership and legacy stretch far beyond the past couple of years. it goes back even further whether it be hiv-aids, ebola or covid-19 for close to four decades and under seven republican and democratic presidents, dr. fauci has always led with the science and our country is stronger and healthier because of his leadership. today, he has returned again to tell you a bit m

sec. austin: good afternoon everyone, let me warmly welcome minister lee and his team to the pentagon for the 54th security consultative meeting. mr. lee lee, it's great to have you here. before i begin. i would like to express my deepest condolences for the terrible tragedy that occurred in seoul this past weekend. our hearts go out to the families of all the victims from across south korea and around the world. including two young americans. we stand together what the people of south korea during this time of national mourning now it is highly unfortunate that the -- has chosen to interrupt a solid period with the illegal destabilizing launch of an intercontinental ballistic missile last night. as well as additional missile launches today. i've consulted with minister lee and we have decided to extend digital storm, our long scheduled combine training exercises to further bolster our readiness and operability. we will continue to work closely to develop options to protect the u.s. and ou

sec. karine: an excellent question and an important question to ask. we have answered this question multiple times at this podium. the president spoke to them when he was in the halls of the united nations not too long ago in september. he said we stand with the brave citizens and the brave citizens of iran who are working to secure their basic rights. there's a lot we can do and a lot we are doing to support those brave citizens of iran. we are taking steps both on our own and also in partnership with other countries around the world, including organizations like the united nations as i mentioned was when the president first to meet his comments about what we were seeing in iran. we are using economic tools like sanctions. we supported the u.n. council volunteers port a fact-finding mission. it was really historic. something that we have not seen. we are working with civil society organizations to make sure that iran removed from the united nations body. focused on women. we have expresse

they petition the sec for it. i think the future is just as intermediaries trading a dollar coin or -- it is the web 3.0 and the smart contracts and the refrigerator in your going to buy five years from now that takes a picture inside and compares it to what you want and orders without. will have to have some kind of currency trade in order for that smart contract to get delivered or else you're going to the grocery store. that is what these people think of as the future of the internet. there is no way any of these rules and regulations have any way to deal with these kinds of snow. -- of now. my understanding is people who are forward thinking are way beyond what we are arguing about now. they think this is the way machines are going to talk to each other automatically, order stuff you want. pay for it with some kind of digital currency because you can't use your mastercard or visa. i don't understand why you can't use your mastercard or visa. >> they are working on it. >> they tell me you cannot. this is the vi

regulators and the sec has approached this. it has been using enforcement, in some ways it changes the dynamic of the conversation if you are having it in an enforcement action rather than an open public discussion about the right regulatory framework for the new emergency is -- emerging industry is. there are areas we need to make adjustments. that has been a problematic approach. >> i am curious of what you think of a comment made earlier this week, to us at bloomberg tell vision. he thinks -- television, he thinks there is a lot of people in d.c. who feels duped. he had been a huge political donor, how do you think lawmakers feel, not just about freed, but the industry given the trust that may have been breached in a situation like this? hester: i do not want to talk about an individual person or entity. i want to say that the idea behind many of these innovations in crypto is to move away from centralized entities or particular people. two look at on chain develop and of innovation, on chain activity that is transparent. th

sec. benson: exactly that. the data and evidence and facts and what's best for each voter is what has to drive our work in this industry. i have to start out by thanking the knight foundation, it really shows how partnerships with the philanthropic community and city and states are critical to help us thrive. we've seen that in elections as well, partnerships that help us emphasize the truth. debunk misinformation, which we have become better at in the last two years, because we have had a lot of practice. at the end of the day, the things i'm most proud of is what often gets lost in the crowd of the battle we are in -- clearly we are in a battle over truth and misinformation. that is the era we are in and it's coming to fruition. the two things i've seen happen over these last three years gives me a great amount of hope and optimism and even think we are on a track to have a healthier, more robust democracy than ever before. there's a lot of you in this room who have been working this bas

sec commissioner hester peirce in the studio. the day after the election what does it mean for young adults in the world. we have a live group in studio. casting a pall on the happiest place on earth. maybe, maybe it is time for them to focus on fun again. all that and more on "making money." charles: so needless to say this past year has been really tough for the crypto market, right? it morphed, morphed from this amazing place of unlimited potential, economic freedom into sort of a wild, wild west. run amok from bad guys. just think over the last few years you had these major players emerge, right? this zz, started binance in 2017. another couple years later sam bank fran freeze invested in ftx. binance was number one and ftx was number two. there was friction. when he said he was selling toke owns main asset on ftx the whole thing apparently began to implode. ftx went to worth of $32 billion to essentially nothing in the last 48 hours. that is the latest saga to make decentralized finance a reality. joining me bianco research

sec. haaland: hello and good afternoon. chairman schatz. vice chairman murkowski. and members of the committee. [speaking native language] it is deeply meaningful for me to speak to you from the ancestral homelands of the antique austin and piscataway people. thank you for the opportunity to present the department's testimony at this important oversight hearing on the federal indian boarding school initiative, an s-2907, a bill to establish the truth and healing commission on indian boarding school policies in the united states. the biden-harris administration is determined to make lasting a lasting positive difference in response to the trauma that federal indian boarding school policies have caused. i would also like to thank my dear friends, senator warren and co chairs of the congressional native american caucus, representative sherice davids and tom cole, for prioritizing legislation to address these policies. for over a century and a half, the federal government, including the depart

once you come in and talk to the sec, you're in discovery and it's hard to see how the sec hasn't engaged in selective enforcement. i mean, they were collaborating closely with, you know, ftx with sam bankman-fried and so was this cftc. meanwhile they're going after kim kardashian. really, you got kardashian but didn't get the ftx fraud? charles: from what i read, sbf was helping them craft legislation at cft. with this hearing, should members of congress be allowed to be in any sort of investigation if they took money? should they not at least be returning this money to victims? >> yeah, that's something we're going to take a look at. i mean, look, you know, sbf gave money to my campaign and i'm one of the handful of republicans that have -- [ talk over each other ]. charles: you've take the money. will you give that money to some form of charity aimed at helping the victims? >> yeah, it's $5,000 but, you know, he spent $31 million. it's a drop in the bucket towards what's happened but i think, look, at the time, you know, people thought, wow, what an interesting idea and it seem that ha

i don't think the sec can grant a monopoly to anybody. say they granted this thing, guys, go for it, liz claman and charlie gasparino can theoretically copy that. liz: i want a toke edge of my own. >> not a token. we can start a red exchange. >> thank you very much, charlie fast. four 1/2 minutes before the closing bell rings. dow, s&p 500 just hit a session lows. the dow gave up gains in final hour of trade. when we came into the session, loss of 118. now it is worse than that. it has been a choppy averages where major averages seesawed from gains to losses, move from negative to positive, short-lived, coming from lael brainard the vice-chair of the federal reserve who is a voting mel per, do expect we'll probably see a slowing down of the pace of interest rate hikes. holiday season, did you guys see this, underway in new york with the iconic rockefeller christmas tree arriving saturday. as we get closer, they're putting it up to the end of the year. it is time to find shelter in the dividends cave, at least that is what our "countdown"

sec. jean-pierre: i hear the question. i hear your question, but we are not doing this the way you want it. this is disrespectful. in his. i -- it is. i am done. i am done with you right now. go ahead. you are taking time away from your colleagues. reporter: only 13% of adults have gotten the booster. 70% of adults have completed their primary series. which of those numbers is more important in your mind in terms of anticipating how bad the winter surge could be, if there is one, and the number of hospitalizations? and i have a second question. dr. fauci: they are both important so i don't want to say one is more and diminish the other. but the people who are most at risk are the unvaccinated. we have 68% of our population vaccinated. that means we have 32% of the population that is not. if you look at the data, they are just profoundly striking of the curves of deaths and hospitalizations of vaccinated versus unvaccinated, versus vaccinated and boosted. there is a relatively small difference in vaccinated and boosted. tha

sec. buttigieg: well, i certainly think it was the right move to step in and ensure that the airline industry did not collapse in 2020 and 2021. one of the best moments. -- one of the best moments of the early days that i had in this job was when i got word from the flight attendants union that they in turn had got word to tear up their furlough notices because the american rescue plan had passed. there was a very real danger of things actually falling apart in a way that would have been irreversible. but the other side of that is when tens of billions of dollars of taxpayer money went into supporting this industry, it is a very surprising, puzzling, and frustrating to get to where, as we all hope would happen, demand is back, passengers are back, airlines are back, and by the way, back into what looks like very profitable territory as we get into the reporting that's coming out in this part of the year. and you're still seeing these kind of services. and i'll give you an example of one of

elizabeth: here is the story coming up where is the sec where is the sec on this where is the sec insider trading case what is "the wall street journal" found? massive government corruption, government workers literally trading stocks from their government computers, potentially trading off of insider government information. we've got the new mia attack on elon musk. he is reportingedly firing twitter workers bringing in his workers from places like tesla to fix twitter. tech expert jessica melugin on "the evening edit" next. ♪ technically when enamel is gone, you cannot get it back. but there are ways you can repair it. i'm excited about pronamel repair because it penetrates deep into the tooth to help actively repair acid-weakened enamel. i recommend pronamel repair to my patients. elizabeth: welcome back. billionaire elon musk, he is has not even owned twitter for a week. he is making big changes. big waves he is making too. he is getting a lot of heat as well from the media on his takeover of twitter. kelly o'grady in san francisco with more. kelly? reporter: good evening to you, li

blockfi bass dinged by the sec. i think they paid a 100 million-dollar fine a couple months ago right before it received a 200 million-dollar or so bailout from ftx. so follow this. they had to pay the fine to the sec not being a registered exchange from what i understand. they reached out to ftx for the money and then they got entangled with ftx and filed for bankruptcy. now you know, you should be able to walk and chew gum at the same time. not everything, things are not binary but stuart adderly who is the general counsel for ripple had an interesting comment on this. this is not an insignificant player. obviously someone with, that is at loggerheads with the sec. we should put his comment up there. there it is, liz. it is pretty interesting. this basically says, here is it says after the 100 million-dollar blockfi sec deal, blockfi went to get a loan from ftx and then you know what hit the fan. he is essentially laying this on the sec. liz: regulation by enforcement. what they did with kim kardashian. >> i'm try

how much of this ftt coin by the way which is not registered with the sec. jackie: yeah. charlie: it's not registered. how many people received this thing and should it be registered? this is a tremendous debacle. it's probably the biggest one so far in crypto, and i'll tell you it's going to have some implications for gary gensler going forward particularly if the republicans and it looks like the republicans get congress now and there's what, i think there's nine races left and they are leading in all of them. they only need six to get a majority. there will be hearings on this , because bankman-fried, the sort of guy behind ftx, the exchange that imploded was a huge democratic contributor, gave a lot of money to his boss, had a lot of doors open for him in washington when he wanted. he was a wonder kind of in the crypto market and now he's in the middle of something some people are calling a scandal. it's definitely a debacle and you know, we've been able to get some interesting details on meetings that the sec had with bankman-fried and with a guy named brad ketsiama,

charlie gasparino who has new information on sec chairman's meeting with spf. charlie is a senior correspondent with fox business. he's with us tonight. charlie, what is your new reporting on this reporting with sbf. >> the blanket approval of the sec. it would've been a big business venture. he's going to do it with another trader on wall street. i don't want to say that the sec was poised to approve it but they got pretty far. they were going pretty fast, hard on this thing. they were having multiple meetings with the sec even after the initial meeting in march. so i think one of the interesting things here and i guess the book on this guy, how did he hoodwink so many people? i'm talking to him all the time. he blew a blue streak of you know what constantly. he virtue signaled better than anybody else. giving to charity. giving to the democratic party. he hoodwink journalists that he was great investor when it was so odd that he was still, still giving money, expanding his empire even as crypto started to correct or massively corrected. i kick myself in the r

most exchanges even coin base, have explicit -- from the sec. how do we do this? gensler would say the gold standard is nasdaq and the stock exchange, registered securities, that led people in these meetings to believe coin base could face the biggest crypto exchange. credit face regulatory impact because they still allow trading of cryptos that are not registered with the sec that -- gendler say ethereum might be a nonregistered security, bitcoin is the one he said gets a pass, definitely in crypto but they trade them all and that does mean coin base is open for regulation and sec lawsuit. nobody knows. one thing i will tell you is this blowup, taking the crypto industry upside down, if gendler did go after coin base, they would cut to to eh, would show coin base, theoretically, so many losses in the crypto industry. jackie: that would crush crypto. charles: people can make up for their losses on ethereum and other things. to theoretically -- this is nasty stuff. no one knows where it is. some people were paid not just in cash with business, crypto we had that is

sec. described it for pennsylvania, that's a fairly normal system. some states like kentucky it's the state board of elections that does the certification. not just the secretary of state. but the description in pennsylvania is pretty accurate and the courts will step in and make sure people follow the law. >> absolutely paid thank you so much. another question for you all switching gears. the basis of our discussion is that we really needed and are happy to hear from two bipartisan voices who have been outspoken as you all have on the ways to protect our elections. you certainly have extensive histories which i didn't go to in the beginning. i was so excited to dive into the discussion but certainly you have 20 plus years of experience in secretary chapman we know both from your work before assuming office as an advocate at a leadership conference and other locations. going back to your days at howard law. i'm curious as we look beyond this election, we are hoping everything goes well pai

dave: where was the sec? he had a personal relationship with gary gansler? at least pick up the phone. charles: i wouldn't go that far. i went to be fair. there was a meeting between gary gansler, sam bankman-fried, his people, both bankman-fried, pitching the crypto fund and they met for 45 minutes. a lot of people talking about a head start on the notion that the sec will anoint someone as a fund. i could tell you gansler is very skeptical about all this stuff but he did pick up the phone. the sec staff was meeting with ftx while all the stuff was going down and you got to ask is bankman-fried's statute to open the door, that is legitimate question, you can't say that gansler was showering him with love because he's not that type of guy. dave: he does work for the public inside the beltway, that person gets a call from the senators. charles: bankman-fried gave money to biden. dave: another crypto exchange has been watching the fallout very closely, chief legal officer marco santorini joins us. could the meltdown happen at any crypto exchange? >> thank you

these people are on speed dial with the sec and finra. karma seems to be playing a role here. >> it's a bad week for meanness and nastiness. you've seen a lot of people seeking public office this week who thought you can just troll people into a senate seat or the governor's mansion and it doesn't always work that way. taking over twitter and then turning it into a dumpster fire, i just don't see how that's a long term proposition. or strategy. >> i think this was a good week for america, jim. i know you feel this way. i think our institutions are holding. whether it's lula, a peaceful transfer of power in brazil, election denial being a bad campaign strategy, whether it's an individual who had this jesus complex, the market and advertisers aren't going along with it, it just feels like whether people are starting to value our institutions and our financial regulators. i would argue that the most noble organization in the history of the planet is the u.s. government and its institutions, as flawed and clumsy as they may be. i think, again

the sec got hit with a lawsuit over its market reform plan. charlie gasparino will give us the details, be right back. ♪ 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, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst,

most crypto exchanges are not approved by the sec. i think the best you could say about his campaign contributions as they influenced congress in terms of pushing regulatory authority, it opened tremendous amount of doors for this guy. if you open the door to elizabeth warren you open the door to gary gansler, not that he did anything wrong, i don't have any evidence, but that's what we are talking about, very convoluted story. it is remarkable, 3 years, worth $30 billion, he influenced all these people in 3 years and maybe if it turns out this way, the most epic swindle of all time foot -- dave: some buddy coming up has a personal interest in what happens here. our next guest says the attorney of a plaintiff in the class-action ftx lawsuit, adam moscowitz, who precisely are you suing in this class action? >> we are suing those entities that are not bankrupt because they would get bankruptcy protection but we are suing celebrity endorsers, sam, a lot of managers that were fired before the collapse happens because they are not going to

how much of discussion is going on at the sec about why that happened? do you have any sight at all on that? >> i can't speak to meets a that chair gensler has, but it is important puts to make these decisionses about regulatory structure in as open and transparent method as, possible. typing pardon, i men we can. >> everyone.com many puck and tack to us at a round table where people are interact with each other. liz: transparency and quality hiking. let's hope that that comes to what is a nascent, nascent stage of what could be something, certainly, has useful down the line, digital currency. commissioner, thank you very much for joining us. >> thanks for having me. liz: while crypto mom, as she's known, positions on future of crypto and what regulations should be looking at, the aforementioned gaspo has been digging into the details about how one big sovereign wealth fund looked at everything that was going on at finish tx and walk away prosecute multibillion dollar empire. charlie breaks it next. we do have the dow down 14 points. you know, i'm lookin

just yet but debris later stage negotiations on approval of this sec sanctioned exchange that had sam bankman-fried's name on it. i have this from multiple sources that gary gensler, sam bankman-fried was a mega donor to the democratic party. the sec sanctioned exchange, all hell would have broken loose because money is missing from the exchange, scandal of immense proportions. cheryl: with 100,000 -- charles: i would say that gary gensler, this is a subject of hearings on the hill, comes into play. what did he know, when did he know it, how far review the negotiations, what is the sec about to approve the joint venture between i.e. x and sam bankman-fried. they were pushing for this minus the ftx markets. pretty interesting stuff going on. trying to get attend around crypto regulation, under pressure to do something with crypto exchanges bringing that in. whether it was the i.e. x approving therefore coin base cracking them to come to the table and get fcc approval. cheryl: operate in the winds. charles: we don't know. it looked like based on what i am hearing is joint venture betwee

my take later in the show, sec letting people off as usual with small slaps on the wrist. ♪. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire 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 nau

sec. mayorkas would like you to believe that the people committing these crimes are just in the search of a better life. how many people have not been caught? in 42 days, the united republica haven house to -- republican house takes control. in 42 days we end one party democrat ruled in washington. a new house republican will work to stop joe biden on our laws, borders and border agents. we will use the power of the purse and the power of the subpoena. let me be clear. those responsible for this disaster will be held accountable. i've spoken today, again, to congressman jim jordan, and jd,, defeat -- jamie carmer. they have my complete support to investigate the collapse of our border and the shutdown of ice enforcement nationwide. undersecretary mayorkas -- under sec. mayorkas, his laws have approved that deadly. fentanyl is slowing -- flowing in record amount. 300 americans will be poisoned and die. tomorrow, 300 more. it's the equivalent of an airline crashing each and every day in amer

people did ask the sec how did you miss the madoff blowup. it turns ought madoff had some family members -- his son-in-law worked for sec. he didn't get charged for that. but there is something called regulatory capture. when you have close ties to companies you regulate, we'll find out how close gensler was to fdx. there is something in you that says that person is not a crook, that person wants to do good. bankman-fried's father is big in democratic party circles, so is his mom. so you know him. but that's called regulatory capture. gary gensler is your friend? are you friends with him? liz: i interviewed him. i want to tell people the eod website crashed. thank you very much, you guys. sergeant airnl hale is going to make sure they get it back up and running. the candyman. we are seeing your donations to come in for heroes.org. we popped to 65,000. thank you so much and keep it coming. s&p hitting its highest point since june. you met aaron? >> i gave shim one of my command coins. >> i have one of your command coins. what do you like in th

kim kardashian paid 1.26 million to the sec for a similar crypto partnership. the investor lawsuit has been thrown out. gillian, the moral of the story a lot of people tied up in this and the list keeps growing. >> thanks for breaking it down fours, a new op-ed is calling out the media for using the kid gloves approach to the ftx approach. one would think the media would take a sledgehammer to him. it targets the "washington post" and "new york times" saying they failed to cover the story adequately and fairly. a couple of the headlines. ftx collapse dooms founder's effort to prevent another pandemic and how his empire collapsed. anchor of the evening edit on fox business. so much to unpack here. let's start with this, liz. is this a case of, as kelly reported, a soft regulatory environment enabling this behavior or is this a case of congressional lawmakers completely, completely renegeing on their responsibility to american taxpayers? >> it's both. i broke stories about it. digging through the bankruptcy government documents is clear what you point out it's bo

the sec it's -- >> doesn't -- it doesn't even compare, the sec is a different world. i don't think our biggest competitor is lsu it's our own unforced errors that alabama has had. they have not been amazing on the road yet but i think they are ready for this. we had a bye week next week. this is a signed photo of nick saban that may or may not sit in my office and zach may or may not have furiously run down to get. >> and this is by the way if you can't -- this is just lsu, this sits in my office. >> it feels like college game day where lee makes his pick and puts on the head of the mascot of whoever he picks and you should be putting on the lsu tiger head right now. >> i know i look crazy but this is actually how i dress figure to an lsu game on the rare occasion because i don't have a chance to go as much as i used to, but here is the thing, kaitlan and i were supposed to go down to death valley to baton rouge and go to the game. next week is going to be so crazy when it comes to the midterm elections, we decide we don't need -- we had a lot this week we didn't need

sonali basak has constantly what has criminal probe but looking within the sec as well but what about the impact he has lost of the money for others? some big money managers and the u.s. and worldwide. sonali: let's look at the ones reporting their exposure. up to 45 million dollars worth. a significant amount they say. a large majority of the capital tied to ftx. galaxy digital had 77 million. that was only about 4% of their capital base. they will walk away just fine with a bruise in terms of what they have lost. genesis has been working with dcg and they have 175 million tied to this. this is just starting to emerge it i had a conversation late friday with michael nova gadgets . he expects his former estimation of dozens of hedge funds failing will only start to exacerbate in this type of a market that brings us to the next point which is that cz of finance wants to start a an industry fund to rescue firms that have exposure to ftx but perhaps are good projects to be working with. there were a variety of responses. he had a twitter spaces ask me anything this morning. in terms of w

an sec probe on ongoing mayhem. tom: we are taking in these markets, very strong upside in asia, particularly in china and hong kong, gains of 7% within that jurisdiction. we will get more details on that shortly. the cpi print, coming in below estimates, and the market starting to price in 50 basis points and in december instead of 75. the s&p 500 higher as well. the dollar off and yields lower yesterday by 25 basis points. a national holiday in the u.s. today, bonds not trading. basic resources gaining, tied to the china story. four sectors in the red, health care, food and beverage among that list. francine: stocks rally after china eases quarantine rules and scrapped a system that penalizes airlines from bringing covid cases into the country. good morning from where you are, why were markets so excited by today's quarantine rules? >> if you look at the roles, the role changes, they are incremental. warranting is in place, you have to do five days down from seven. the flight suspension mechanism was positive, and

-based companies have been acting in a more compliant way, the way the sec would do things. i mean coinbase is in the u.s. companies like ours who have the avalanche blockchain all do things in a compliant way. the offshore ones is where they treat an exchange like a bank with fractional reserve. then forgot about segregating accounts. it is really astonishing frankly. i was in traditional finance. i lived through the internet bubble, enron, a adelphia, worldcom, you saw it again in the great financial crisis with lehman and bear stearns. now i see this in crypto. almost like the lessons of the past have not been learned. that is how you give trust in the system. that has to be repaired. david: that happens for thousands of years we go back and i don't think we'll ever figure that one out entirely but there does need to be looking into regulations. john wu thank you for being here. meanwhile president trump launching his third presidential bid. coming up we get reaction from both sides of the aisle including from former vice president pence, former vice president pence's pre

blockfi septembered with the sec, a 100 million-dollar fine. the larkest in history. that to me was a red flag. you saw red flags long before then. >> yeah. i've been kind of a skeptic of these yield bearing platforms. i think the reality is no one was really asking the question where was this yield coming from? and really the crypto mania of 2020 and 2021 was fueled by obfuscated leverage and particularly was exacerbated by these yield products. in case of blockfi fine, they got fined for the sec offering unregistered securities buildings look at the howie test and what defines a security by that sec, basically the promise of a return or investment with a counterparty. that is what these yield products are. i'm not one to call for the heavy hand of the state but the reality these yield products. bitcoin mass no stated yield. where is yield coming from? why a lot of counterparties are going bankrupt in a daisy-chain. charles: i had blockfi on the show a few times back then i would ask the same question. there was an ad in february of 2021. it ticked off all the reason

the sec basically created the market structure we have now that led to low cost discount brokers. the notion that all this stuff is going on behind the scenes and dark pools and with private market makers skimming pennies and costing small investors has not been proven at least that's what virtu is going to argue and that's when the lawsuits start hitting. first off we should point out there needs to be a proposal. when is that coming? we understand that they plan on doing it at a public meeting sometime this month, okay? liz: yeah, because there's a comment, you have to publicly comment to allow that. charlie: but he's been speaking through stuff, you know, cutting short the public comments, and then, you know, maybe this doesn't happen. maybe he puts this off until next year, no one really knows because on top of it all you have the whole ftx sam bankman-fried scandal going on. he's scheduled to speak at the conference tomorrow, sbf is which should be very interesting , and he's going to be interviewed. and andrew told me everything is on the table, so that is going to be intere

it is not just a cftc but the sec and other regulators that might move faster to protect consumer funds as they pertain to the united states and where the funds are kept at the end of the day and how importantly -- how they are classified because no matter what you can put as many protections as you one in retrospect until the industry, ftc and cftc can put definitions on these things which is an issue at play here. it is hard to imagine the regulators moving forward in any meaningful way. ed: a story that has many days to run. coming up, amazon is planning its largest ever headcount reduction as a basis for slower growth. this is bloomberg. ♪ >> the economy does not look great right now. things are slowing down. you are seeing layoffs in many sectors of the economy. people are slowing down. the probabilities say if we are not in a recession right now, we are likely to be in one soon. my advice to people, be they small business owners or whatever, is take some risk off the table. caroline: amazon founder jeff bezos on cnn earlier talking about the layoffs, and then we learned amazon i

i've had discussions with people that have been working with the chairman, the sec. and materiality is different by organizations, right? if you're a large organization, a small thing with, you know, tens of millions, it's not material, right? but for a smaller organization, the mere fact that something happened, it might not be multi-million dollars, but because it impacts so many of your customers, like it affects a lot of your customers and if those customers are all attacked or affected, that will, you know, cripple you. it's small remediation on your side, but the impact of your customers now places a different level of what materiality is for you. so, if you're asking me what the definition is, you have to have a good team on board that can look at the-- because it's a case by case analysis to determine what materiality is, so i didn't actually answer your questions, but you've got to think thoughtfully about it. we try to find it in like a set term and it's hard to work out because there are so many nuances and depending on the particular situation. >> now, i

sec chair gary gansler met with bankman-fried before fts's collapse. any idea what they talked about? ashley: gansler had a 45 minute zoom call with bankman-fried where they discussed a new crypto trading platform. if approved it would have given the former chief a jumpstart on the competition with a trading platform that would meet sec standards. ftx had been floating the idea of a joint venture with stock exchange i.e. x but gansler was lukewarm to that proposal but gansler was mounting a regulatory assault on the crypto business but critics in congress in particular questioning why he missed the ftx debacle and whether the sec has the authority to regulate digital points. lots of questions to be answered. stuart: they will answer those questions forever. what is this about pete putin judge --buttigieg meeting with dark money green groups? ashley: the transportation secretary's internal calendar was obtained by fox news digital. he met with several anti-fossil fuel groups including the league of conservation voters, natural resources defense council,

it was a huge sec battle. we'll show you came out on top next. vo: climate change is fueling a wildfire crisis. destroying our forests. threatening our communities. polluting our air. prop 30 taxes those making over $2 million a year. no one else pays a penny. 30 will reduce the tailpipe emissions that drive climate change. and prevent wildfires and toxic smoke. so we have clean air to breathe. this is about our kids' future. omar: prop 30 helps contain fires and combat tailpipe emissions. vote yes on 30. (vo) no matter what type of severe asthma you have,... tezspire can help you have fewer asthma attacks... ...and breathe better. tezspire is an add-on treatment for people 12 and older. it is not a rescue medication. don't take tezspire if you're allergic to it. allergic reactions like rash or an eye allergy can happen. don't stop your asthma treatments unless your doctor tells you to. tell your doctor if you have a parasitic infection or your asthma worsens. sore throat, joint and back pain may occur. avoid live vaccines. no matter who you are,

>> i would defer to sec. mayorkas but to deal with the transnational criminal organizations there's a number of things. first we have transnational organized crime task forces not just with agents but the state d local officers who work with us to go afterer the cartels and we have saved the streets task forces that deal with the related part which is the violent gangs that work with the cartels and going after those. third we have border liaison officers in all of the field offices that we haveio on the border and i've visited all of them myself and walked around not just with our people but the officers and those folks ensure cross-border assistance. we have legal attachÉ offices in mexico and in fact last year we were able to apprehend two of the top ten most wanted fugitives which is progress so those are some of the things we are doing but it is a major concern for sure. >> have we done anything with of the government of mexico that they need to step up their war against these cartels because again they

frankly i think the sec should be the regulator. particularly these exchanges are in effect securities, they are public securities, and they should be regulated not by the commodity commission but the sec, just saying. and he's trying to bribe senators not to do that. >> sandra: maxine waters was asked by hillary vaughn, a question, if you are a democrat who received money from this guy or his firm, do you have to give it back, and here was the question potioned to maxine waters. >> do you think some lawmakers that got donations from ftx's founder should give the money back? >> i don't want to get into that. both sides, democrats and republicans have received donations, thank you. >> one republican. bozeman from arkansas. >> sandra: so -- >> they shouldn't have to give it back. i'm going to take her position on this. >> sandra: you are something today, larry. >> why should they have to give it back? they took the money, and celebrities, now the politicians who will get fingered will be very embarrassed and think twice taking money f

musk fired twitter's board of directors, according to sec filings. and he said on twitter quote. this is just temporary without giving details. general motors has announced publicly it has paused advertising with the platform. advertisers will pull back and they will look and they will listen to see the tone and the tenor of the conversation and then determine whether or not it's right to go back in. rakowitz is co founder of garm, the global alliance for responsible media, which represents interests of the world federation of advertisers. it published an open letter to musk calling for him to adhere to their standards for keeping digital media a safe space for customers and advertisers. digital media safety is serious and that brand safety and the advances that we've made, um there are not negotiable for advertisers. rakowitz says. garment advertisers are going to be watching musk's moves carefully, and the impact of any staff cuts the public is weighing into don't think he's going to do what is best for this user base and for society at large? i think he he bought it for selfis

or when sec do the to serve the same purpose. in your opinion, there's a lot to compare. the 2 ulta, me essentially definitely serve the same purpose, but they are operating and 2 different distinct contexts within the, within the african african continent. and in looking at the continent of the americas, but they the, all, the african, i'm in or the military commands of the united states, whether it be south com or africa, or even like you said with, is there are there to keep back and be back and make sure there is no movement, no formidable, we know formidable movement, that can truck chart the course of self determination for the people to be able to access their own control and do what they will, the x, the resources for the collective good of the people that's the essential purpose of their operating and different context because i think latin america has a much more tor anti imperialist movements going on on the continent. as we heard of like things like the pink time which is becoming even darker. and we should, we should on to that, and they all still the interna