35 Burst results for "$ 1.5 Billion"
Monitor Show 16:00 11-02-2023 16:00
"Pop culture is something that touches everyone. It's how we fill our leisure time and how we enjoy ourselves. Particularly when you're talking about the famous people and big personalities in entertainment and tech, there tends to be a need to sensationalize. But what I enjoy is explaining to people how the things that they love get made, come to be, and how people make money off of it. I'm Lucas Shaw, and I cover the business of pop culture for Bloomberg. My job is to uncover how entertainment is changing and explain what that means for you. Because context changes everything. Everything else, about 10 seconds away from the closing bell, we're going to finish about 1 .9 % higher. That is the best day since April for the S &P 500. It's the same thing, too, if you take a look at the NASDAQ, finishing about 1 .8 % higher. The Dow getting in on the action, up 1 .7%. And like Scarlett and I were talking about, this is ahead of a lot of risk events still to come this week. All right, everybody, we are going to get to the gainers. I don't know if we want to. Do we want to go right to booking and just talk about their earnings? Do it. Yeah, let's do it. Booking coming out, third quarter revenue, $7 .34 billion. That's a beat. $7 .26 is what the street was expecting. Third quarter gross bookings, we're looking at $39 .81 billion. That is a beat. $38 .22 billion was the forecast. This is a great indication whether or not people are continuing to travel, and that revenue beat is certainly catching our attention here in the after -hours. All right, I've got Paramount, which is the former CBS, the former Viacom, all put together into one nice package. Paramount Global, third quarter adjusted EPS. Continuing operations, $0 .30. That is three times what analysts had expected, which was a dime. In terms of revenue, $7 .13 billion. Slightly less than the consensus estimate of $7 .15 billion. Continuing operations, EPS, $0 .36 for the quarter. Paramount right now, a little change at the moment, but we'll, of course, keep an eye on that.
A highlight from Bitcoin $30k: Uptober is Back on the Menu!
"I don't necessarily think that right now, if these products launched, we'd see some incredible inflow of people buying Bitcoin. My anticipation, then, would be that a lot of that speculative energy that flowed in, in the days between the announcement and the listings, would level off or even flow back out, but I also still don't think that would be the end of the story. It's in the importance of narrative and the announcement of the arrival of Bitcoin on the most mainstream traditional financial stage, and it's about its existence as a vehicle in the long run for all sorts of different use cases that we're not imagining and that aren't about rushing in on the first day. Welcome back to The Breakdown with me, N .L .W. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Monday, October 23rd, and today we are talking about October. It's back. Here's why. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. All right, friends, this is not something we normally do, but let's talk price. Today, I think warrants it because it is more contextual than just some random move. And of course, you don't need me to tell you this, but Bitcoin is up at the time of recording around 31 ,000, not quite there, but just under, and overall closed last week above 30 ,000 for the first time since early July. The weekly gain was 11 % and that was the largest weekly green candle since late June, which was when Bitcoin markets went ballistic of news of BlackRock's application for a spot Bitcoin ETF. Now, of course, throughout the long crypto winter, 30 ,000 has sort of been the price ceiling on multiple occasions. Aside from that BlackRock rally in June, we also saw Bitcoin hit 30 ,000 in early April, which was of course during the period the aftershocks of the banking crisis coincided with Binance converting a billion dollars of its defunct stablecoin BUSD into Bitcoin and other major tokens. Now that said, every trip above 30 ,000 over the past six months has ended up reversing and heading back down below 26 ,000. July saw the most robust trading above 30 ,000, spending most of the month above critical psychological level. The period saw two tests of the 32 ,000 dollar level, which analysts are pointing to as a much more critical technical level, although I don't know anything about that so I can certainly not verify or deny it. 32 ,000 though is where Bitcoin put in its lows in July 2021 before heading back up to all -time highs, marking the double top of the last bull run. Now, the price action over the past week has been accompanied by a major uptick in exchange volume, beginning with Cointelegraph's fake news report last Monday that the BlackRock ETF had been approved, traders have flocked back to their exchange of choice to take new positions. The block's preferred metric of seven -day moving average of daily volumes across all exchanges has now hit 15 billion. That means that while we're still a long way from volumes in the first quarter of this year, which were up above 30 billion for most of that period, we're still up more than 50 % since multi -year lows in September. Now, as you might imagine, the Bitcoin pump has extended gains for Bitcoin dominance. That metric of course compares the market cap of Bitcoin to all other crypto tokens and is a measure that has been trending up since last November. Bitcoin dominance is now firmly above 50 % for the first time since April 2021. Last cycle highs in Bitcoin dominance reached 70 % during late 2019 when most previous cycle altcoins had been largely written off as worthless. The broader crypto market is obviously far different during this crypto winter with Ethereum clearly carving out its niche as the second major token and even Solana as we'll talk about in a minute having come to the very brink of and then continuously saying not today. Now, still perhaps the most obvious comparison to draw is year -to -date performance across crypto markets. Bitcoin has now gained over 85 % since January compared to a 41 % gain for Ethereum. Several top 20 tokens have put in stronger performance than Bitcoin with, for example, Solana up 210 % and Chainlink gaining 95 % year -to -date, but obviously comparing altcoins is a little bit different than comparing the majors. Indeed, with the vast majority of altcoins down so far this year that it counteracts this handful of standouts, it's very difficult to claim this year as anything other than a Bitcoin -led rally. The block research, Rebecca Stevens said, inflation woes, geopolitical risk, and an increasingly partisan US government have been weighing on investors who are looking to minimize risk. Meanwhile, Bitcoin seems closer than ever to getting a spot ETF approval and in a certain sense serves as an ideological hedge to the uncertainty on the world stage, helping it reclaim more dominance in the crypto space. Community reactions are commensurate with the news. I saw about a billion tweets like this one from Ro Mooli who said, the Bitcoin bull market is imminent. Can you feel it? Oliver Velez says, I believe this is our last opportunity to buy or accumulate Bitcoin under 30k. Whether this period lasts a few days, a week, or whatever, I believe it will be brief. And once it's gone, it's gone forever. Cryptodon Alt pointed out just how remarkable things are right now, saying, kind of crazy to think that the entire crypto industry nuked. The most famous and influential players got wiped. A bunch of people went to jail. The global economy buckled. Retail got carried out entirely. And yet Bitcoin is only down around 55 % from its highs. Now, the last thing that some were pointing out is the ultimate affirmation of diamond hands and DCA -ing in that after three years of very regularly scooping Bitcoin, MicroStrategy is once again up on their investment.
A highlight from CRYPTO NEWS! BLACKROCK BITCOIN SPOT ETF FAKE NEWS PUMPS & DUMPS BITCOIN & GARY GENSLER IS BLOCKING BTC ETF!! LARRY FINK BULLISH ON CRYPTO
"Welcome back to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I'm sure many of you heard about the fake news around BlackRock's Bitcoin spotty TF getting approved. That was fake news reported by Cointelegraph. It started a whole domino effect where everybody was retweeting and recovering it, but no one had actual sources. And that's something that we can all take away from here and learn a lesson from. We have to verify, don't trust, verify. And $65 million in Bitcoin was liquidated within minutes following the fake reports that BlackRock's spotty TF or Bitcoin's spotty TF was approved. And Bitcoin had a huge pump. On some exchanges, it went above 30K and then, of course, dumped as the reports were highlighted as fake. So we got to be careful here, folks, in this social media area that we're dealing with. And in fact, Larry Fink, BlackRock's CEO, went on Fox Business today and he made some interesting statements. So he did a little bit of damage control, PR control here, but he made some bullish statements as well. So one of the main takeaways here is that he said crypto will play a role as a flight to quality. Very bullish. Let me play a clip of what he had to say. This rally is way beyond the rumor. I think the rally today is about a flight to quality with all the, you know, all the issues around the Israeli war now, global terrorism. And I think there's more people running into a fight to quality, whether that is in Treasury gold or crypto, depending on how you think about it. And I believe crypto will play that type of role as a flight to quality. So there you have it. And some of the other statements that was brought up in that longer version of the interview, Eleanor Terrett of Fox Business highlighted, Larry said, I was busy all day. I only heard about it an hour ago. So talking about the Cointelegraph fake report, he only heard about it an hour ago. I don't believe that for one second. And I think Larry went on here to do a little bit of damage control. And look, he's selling his book, right? They have obviously been investing in Bitcoin, mining in Bitcoin itself and crypto, and they're applying for a Bitcoin spot ETF. So he's laying the groundwork for the next millions and billions of people to come in and buy the BlackRock spot ETF once it is approved, right? Pretty clear as day. I think common sense and logic would tell you that. One thing I'm happy about is you and I are here early ahead of the herd, right? We're doing the contrarian move against the herd, right? Because right now they are scared, they're selling, right? They don't do their research. They don't understand the charts or the market cycles. You have to take time to educate yourself about that. So if you are here early and you understand those things, then you are on the side of smart money. Something else he said is that it's an example of pent up interest in crypto. Talking about the pump, he said, we've been hearing from clients around the world about the need for crypto. And of course, crypto will play the role of flight to quality. So this is very bullish books, huge bullish news. Obviously he's talking up his book, but I think we all recognize that they are all putting their cards on the table now. Institutional investors, Wall Street, we know what the game plan is, right? They're all investing in it globally. They're building funds, they're building custody services, trading services. They want ETFs, they're building their own exchanges and much more. It's very bullish. And I am super excited for next year. I think Larry knows that, look, these quantitative tightening cycles, this inflationary situation, it will all come to an end. As I've said many times, the bear market situations will come to an end and we'll be back in a bull market. Liquidity will fall back. QE will be back. It's just a matter of time. Is it hard to go through the current tightening cycle? Of course. It is tough. Obviously, there's world conflict as well. So it's just a matter of time and we got to be patient, but just think about it. You are doing what BlackRock's doing. You're buying the dip and you're being patient, right? And waiting for Bitcoin spot ETF approval. The herd will be buying Bitcoin on the pump. That's not when we buy. We buy when there's blood on the streets, when it's dirt low, when the rest of the herd is scared and they're running in the opposite direction, right? This is how you have to invest, whether it be in stocks or real estate or much more. So very bullish statements here from Larry and clearly big things happening. Now Miles Jennings highlighted something here, he's from A16Z Crypto about fake news on Twitter or X or social media. He said, just a reminder, fake news in X post causing significant market movements isn't unique to crypto. Eli Lilly lost $15 billion off its market cap in November, 2022 because a verified account impersonating its brand announced that they were making insulin free. So this is the world we live in. Whether you're investing in crypto stocks, even real estate, you have to be careful with these rumors and these fake news. You got to verify, don't trust, make sure there are sources. Now quick word from our sponsor. This content is brought to you by Cryptonomy and Cryptonomy is a great platform. It is a web three focus crypto venture fund and trading organization. They allow you to easily earn a high APY off your crypto and they do so in a very safe manner. They've been around for a long time since 2019, but they also use qualified crypto custodians such as BitGo and Fireblocks. You may recognize those names. I've interviewed the CEO of BitGo, Mike Belshi, multiple times to one of the most trusted crypto custodians in the industry. So your assets are safe once they're on this platform. And this platform offers you a variety of ways to earn. And let's take a look at my dashboard here. You can see that my account is funded. I have a variety of different tokens in here, such as Bitcoin, Ethereum, XRP, and much more Cryptonomy supports pretty much the top 20 to 30 cryptocurrencies out there, such as BNB, Matic, ADA, Solana, and many more. So you can easily deposit your tokens in here. And then in the interest account section, you can see there are many options such as flexible, fixed and launch pool. Flexible allows you to earn APY, but it allows you to withdraw at any time, which is really great. So you can pull out your coins. Fixed allows you to lock in for a longer period of time and earn higher APY. So obviously you have to lock up for a longer period. And then there's launch pool where you can participate in different pools that are here on the list. So if I wanted to, for example, deposit some Bitcoin here in the flexible, it's easy. I already have the Bitcoin in my wallet. I add some in here, I hit continue deposit and boom, I'm good to go. And I can start earning interest. And right now the Bitcoin interest is at 24 .72%. You can do this for Ethereum, you can do this for XRP as well. So for example, if I want to deposit some XRP, I can do that and get that going as well. So pretty straightforward folks. And Cryptonomy also has a loans feature that you can check out as well as an exchange feature. So a really great platform. So once again, I want to highlight that this platform uses top level crypto custody services and they've done a variety of different investments across the industry. So it's a great way to earn APY on your crypto. Once again, I'm using this platform, trying to earn as we're in this bear market. So be sure to check out Cryptonomy, links will be in the description guys. Go check it out, take a look, see if it's for you and if it's something that you want to participate in, but definitely check it out. Once again, they are a safe platform, been around for a long time and you can check out all the variety of services and the company history and much more. Do your research here on Trustpilot. They have a pretty solid rating as well and you can learn more about them. So once again, links in the description. Now continuing on the news of the Bitcoin spot ETF, Preston Byrne highlighted something here that the SEC in part is the blame for some of these rumors and so forth. He said, honestly, the SEC's failure to approve a Bitcoin spot ETF is what allowed this to happen. If they would have done their job and allowed one, a fake announcement wouldn't have made a dent. So obviously Friday, the SEC did not file an appeal to the court's ruling that they were arbitrary and capricious in denying the grayscale Bitcoin spot ETF. So that was certainly a win and that kind of lit the flames here that a spot ETF could get approved. And of course, somebody launched a fake news at Cointelegraph and we saw what happened. Now the other interesting part is that Cathie Wood in just an interview last week said some things about Gary Gensler in the SEC. Eric Balkan has highlighted this. He said, here's some notable non -fake news. Cathie Wood saying the SEC staff who is currently engaging with spot issuers for the first time ever understands Bitcoin and its merits and that it is just Gary standing in the way, which is what we sensed as well. He's talking about him in Bloomberg. So very interesting. And this is being reported by multiple news outlets. She's saying that Gary Gensler is the one standing in the way. I think that makes sense. This is why I've been saying he is a scumbag regulator and I don't know what he's up to. Obviously he's with Elizabeth Warren, who's anti -crypto, not to mention he's trying to kill these crypto startups. So I'm sure Gary does not want Grayscale and Winklevoss twins and some of these other folks to get a Bitcoin spot ETF before BlackRock, before the Wall Street crowd. We know how the game is rigged, folks. So that's what's happening and Cathie's calling him out big time. Now here's something Ryan Salkus and Massari had to say regarding this. If you think a Bitcoin spot ETF is inevitable, you underestimate how corrupt Gary Gensler is. He's a political animal that can't lose face. How corrupt Liz Warren is, Elizabeth Warren, she wants to kill crypto and fundraise off that. How corrupt the White House is thanks to Warren staffers.
A highlight from "The SEC Is Floundering"
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys, it is Monday, August 21st, and today we are talking Coinbase International, Sam's request to not be in jail, SEC, Ripple, and much, much more. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello friends. Well, we are officially in the dog days of summer. This is a period of the year that is always quiet. People are soaking in the last of their summer vacations. Traditional markets aren't very active. People are getting ready to go back to school or go back to jobs. And particularly this year, given that we are in the true depths of a bear market, or if you've listened to my episodes with James Check from Glassnode, that long in between a bear and a bull market where things just kind of stay flat and boring, the August doldrums are even more amplified. Now, I will say interestingly that the excitement around things being built on base and in particular friend .tech, I do think is at least a little worthy of notice in the context of some patterns that I've noticed at the beginning of bull markets. Patterns that involve, on the one hand, Bitcoin driving a new narrative return to the space. And on the other hand, in franchise builders within the space, finding some new playground or sandbox to mess around in. But maybe we'll look a little bit more at that later this week. For today, we're going to do a grab bag of some of the more important things from the past few days, and we're going to start with the SEC and Ripple. Ever since Judge Torres handed down her decision in the Ripple versus SEC case, the big open question has been whether the SEC was going to file their appeal, and what would it say if they did? Well, now the SEC have filed their motion for permission to appeal the Ripple decision. This is still a preliminary motion asking the court to certify the case for appeal. If successful, the SEC will also need the appellate court to accept their case before they can proceed. Although it's still early days in the Ripple appeal, this motion gives a look at how important the Ripple decision is to the SEC's overall enforcement strategy. The SEC noted that the Ripple decision, quote, could have a substantial impact on a large number of pending litigations. They specifically noted its relevance in ongoing cases against Coinbase, Binance, and Justin Sun, among others. One of the key questions in the Ripple case is whether blind purchases of digital assets from an exchange could create a, quote, reasonable expectations of profits based on the efforts of others. This is, of course, one of the key elements of the Howey test. The SEC highlights the importance of getting a firm answer to this question for the purpose of setting precedent for other cases. They write in their filing that, quote, the pending cases may involve different crypto asset securities, but the same legal disputes at issue in the order's rulings will likely be critical in those actions as well. Now, the Ripple decision has already been outright rejected as a precedent in the Terraform Labs case. In that lawsuit, the judge not only found that Terraform's LUNA and UST tokens were factually distinguishable to Ripple's XRP token, they also determined that the Howey analysis in the Ripple case was an incorrect application of the case law. The Terraform decision was in an early -stage motion to dismiss, but the judge still found that UST could be a securities offering even when sold by a third party through an exchange. Notably, in their filing, the SEC has backed away from their position that crypto tokens are inherently securities and will not argue that point on appeal. The regulator, in fact, claims they never even took that position in the first place stating that the SEC did not argue here or in Terraform that the asset underlying those investment contracts were necessarily a security. The SEC's appeal, if it's allowed to go ahead, would be what's known as an interlocutory appeal. This means it would take place before the final trial has concluded and is a somewhat unusual but not unheard of process. Most of the issues have been decided already, with the only outstanding issue being whether Ripple executives aided and abetted the firm in breaking securities law. Now, interestingly, one attorney, Greg Buke, has said that the SEC's strategy is not particularly smart. Greg writes, Judge Torres did not rule that sales over exchanges can't be investment contracts. She only ruled the SEC failed to meet its burden of proof that a reasonable retail investor would believe they were relying on Ripple's efforts for profits. The SEC relied on cherry -picked statements from Ripple and selected employees, but failed to produce evidence of the reach. The SEC didn't produce evidence of a single XRP holder, who said he was relying on Ripple to increase the price of XRP. It tried to use expert testimony, but that testimony was excluded. The SEC didn't try to rebut Johnny Deaton's affidavits from the XRP community. So why is the interlocutory appeal a huge strategic mistake for the SEC? Normally, a party appealing a final ruling has a chance to interpret the ruling in a way that is helpful to it, and the court that issued the ruling doesn't get a chance to explain or clarify. But now, whether Judge Torres certifies the interlocutory appeal or refuses to, she will have the chance to clarify her ruling. She will make it very clear that her decision was only that the SEC utterly failed to meet its burden of proof. One important thing non -lawyers might know but not always remember or appreciate is the general rule that no new evidence can be made on appeal, and no new legal arguments can be made on appeal either. The SEC is stuck with the record and will have scant evidence to point to on appeal about reasonable retail purchasers. What this means is that when the case does get to the Second Circuit on appeal, Second Circuit might even be inclined to agree with the SEC's underlying theory of the case, but it will be very clear that Judge Torres' ruling was based on the undisputed factual record, which shows a glaring lack of evidence from the SEC about the understanding of the retail investors it was supposed to care about, but always sought to minimize and found itself adverse to throughout the litigation. As the plaintiff the SEC loses on a tie, it has to show it was more likely than not that a reasonable retail XRP purchaser was aware of Ripple and relied on Ripple's efforts for profits or it loses. Deaton's affidavits by XRP holders to the contrary were answered by the SEC with nothing, and nothing is what the SEC is stuck with on appeal. Now I think the big interesting thing about this motion so far is the SEC effectively acknowledging that their enforcement strategy really hinges on being successful in this case, and that they need it to be decided in appellate court so that it can be binding precedent in other cases. It certainly validates those who have found this whole legal strategy of doing zero rulemaking to be super super high risk. Now speaking of the SEC, Gemini have filed their reply brief supporting effort to dismiss the lawsuit brought by the SEC. You'll remember that in January the SEC sued both Gemini and bankrupt crypto lender Genesis, arguing that their Gemini earned product was an unregistered securities offering. Gemini's filing took on a rather derisive tone, arguing that the SEC had failed to properly identify any violation of the law. Gemini stated that, quote, section five of the Securities Act is not hard to understand. The fact that the SEC cannot decide what is the security at issue only underscores the weakness of its position. Gemini argued that the court should not entertain the quote convoluted analysis presented by the SEC. Instead, they proposed a series of straightforward questions to determine whether the Gemini earned product qualifies as a security. These included, when was the alleged security sold? Who was the buyer? Who was the seller? What price was offered or charged? Gemini have consistently argued that their earned product was essentially structured as a loan and stated that therefore cannot possibly be deemed to be an investment contract and therefore a security. Now Jack Bauman, who's a founding partner at JFB legal, who is representing Gemini in the case, writes, the SEC is floundering. They can't even decide what the security is. On the one hand, they claim that the loan agreement was a security. On the other hand, they claim that the entire Gemini earned program was itself a security, an argument absurd on its face. Another absurdity is the SEC's efforts to identify a quote unquote sale. They never do and instead fall back on arguments like this. Gemini and Genesis did not in fact sell their promise to pay the interest in exchange for crypto assets. Not only is this factually wrong, it is ridiculous. A sale and a loan are different things. At some point, words must mean something. I've been litigating for 30 years. It doesn't bother me when private parties make ridiculous arguments. Judges swat them down. But it is something else entirely for the government to take outlandish positions. The truth is that the government gets the benefit of the doubt from most judges and its arguments will get more attention than they otherwise deserve. There is deference to how agencies interpret the statutes they administer. That is why it is so wrong for the SEC and other regulators to be quote pushing the envelope and trying to win cases no matter what. That is not their role and it harms the public and the market. They have a duty to everyone, including those they litigate against. The current crop of regulators in Washington has lost the plot. A great thread and I think many in this space will agree with Jack's assessment there. Now moving over to markets for a moment, Coinbase International recorded its largest day of volume ever on Friday. The newly established offshore derivatives venue saw $287 million in trading volume as crypto markets moved on from Thursday's flash crash. Trading commenced in mid -June with the exchange exclusively offering perpetual futures trading to clients. institutional For the first 50 days, volume was soft, struggling to register more than $100 million in daily trading volume. The past two weeks, however, have seen significantly more volume, with each workday seeing over $100 million in aggregate daily volume across all trading pairs. Now by way of comparison, Binance regularly sees over $15 billion in daily futures volume, so there's still a long way to go for the fledgling Coinbase platform. The offshore exchange was of course launched as part of Coinbase's recent push to accelerate global adoption of the asset class and expand the firm's business internationally. The decision to restrict the trading venue to institutional clients only was punctuated by the exchange only being accessible via API with no user interface offered. According to a recent letter to shareholders, Coinbase has onboarded 50 institutions to the new exchange. These clients have traded $5 .5 billion over the first seven weeks of trading. Coinbase said in the shareholder letter, quote, while we are in the early days of investing to build liquidity and grow institutional participation, we are also working to bring new features and additional products to market over the second half of the year, such as additional asset trading books and spot trading. We remain committed to partnering with high bar global regulators and are encouraging the U .S. to follow the progressive regulatory framework seen in emerging crypto hubs. With Coinbase successfully obtaining a license to offer futures products to U .S. customers last week, they no doubt have plans to further develop and integrate their futures offerings over the coming year. Now speaking of offshore, the days of privacy protected crypto trading appear to be numbered with another offshore exchange implementing KYC policy to conform with global regulatory guidelines. Seychelles -based crypto derivatives exchange BitGet will now require customers to provide government identification documents and complete facial recognition in order to trade. The firm says that the new KYC requirements were being put in place, quote, to better protect users' rights and interests, comply with regulatory requirements in the global cryptocurrency sector, and to create a secure cryptocurrency trading environment. The new KYC requirements will be enforced starting in September, and the move follows in the footsteps of OKX and KuCoin, who also both strengthened KYC policy over the past year to come in line with global regulatory expectations. Now speaking of expectations, SPF is apparently finding being locked up not to meet his expectations. Days after the judge revoked his bail, Sam's legal team has requested that he be released five days per week to work on his defense. In a letter sent to the judge on Friday, lawyers complained that Sam is unable to properly review the volumes of evidence recently disclosed by prosecutors. They wrote, Now, while locked up in the metropolitan detention center in Brooklyn, Sam is supposed to be given access to a laptop to review evidence in his case, but internet access is not allowed. This means that additional files need to be physically transported on hard disks by prosecutors, who claim it is not feasible to load all of Sam's documents onto a laptop. Prison authorities have already rejected a plan to move Sam to an upstate facility where he could have easier access to a laptop and the internet, and his lawyers are also arguing that without the ability to meet with his lawyers and use an internet -enabled laptop at the courthouse, the October 2nd trial date might need to be pushed back. Meanwhile, later on Friday, prosecutors claim that Sam has not yet turned over all of the required information to ground a defense, that he relied on legal advice in his conduct at FTX. Prosecutors argue that Sam should not be allowed to introduce this defense at trial unless he promptly turns over information about the contents of this advice and identifies who he received it from. Now, this news went over about as well as you would expect in the crypto sector, with Aiden tweeting, Dude, this isn't a camp. You don't get to choose what days you do and do not go to jail. And another account, Wills, saying, This makes a lot of sense. If I were in prison, I would also want to be released from prison. Anyways, guys, that is going to do it for today's episode. Like I said, a bit of a short one, but we are firmly in the dog days of summer. Now, it is crypto, so who knows what will be coming around the corner tomorrow. But in the meantime, I hope you're catching up on the news, catching up on some time with fam, and looking forward to another phase, which will inevitably be a lot more volatile than what we have right now. Thanks as always for listening, and until tomorrow, be safe and take care of each other.
A highlight from 1193. Uber 3.0 Using XRP? + Solana Teleport & Hivemapper Analysis
"All right, so let's get into it today. We're going to be talking about Uber and possibly the idea of how Uber could be maybe taking cryptocurrency and also what the innovation will look like around Web3 and what kind of companies could be competing with Uber because all of this will play into the blockchain. You guys are going to like this one. My name is Paul Berra. Welcome back to The Tech Path. Before we get started, I want to thank our sponsor, and that is iTrust Capital. If you guys are looking at long -term holding, one of the best ways to do that is getting into crypto IRAs. There's a couple of things you can do. You can get into gold and silver. You can also jump into all of the blue chips, Bitcoin, Ethereum, et cetera, but you also have the capacity to get into things like XRP, Avalanche, Axie Infinity. There's just a ton of options all inside the iTrust platform. So make sure and check it out. You do get a $100 funding reward if you use our link, so make sure and just use that. It does help the channel. All right, so let's go into a couple of things. I want to just to highlight to you guys some of you that are brand new to our show and maybe don't know completely how we cover and what we cover. We really stay on forward -leading technology. Blockchain of course is one of those big sectors. Of course, we talk about AI. And the other area we talk about is ridesharing. Ridesharing, of course, has been one of the topics we've hit here on the channel for quite some time. We've covered ridesharing in reference to Solana and what's happening with HiveMapper. We'll talk about that today. We've looked at Dito's program, which is a Chinese ridesharing company. There's a ton going on in this space is the point. And the reason this is so important is because Uber, pretty much one of the gigantics within the sector, is now looking at doing something unique. That is maybe actually taking a cryptocurrency for payment. I want to get over to a couple of clips. Let's go to our first clip right here talking about profitability. A big day at Uber headquarters where we are this morning. Uber reported quarterly results. The ridesharing company achieving what is a milestone, a first -ever gap operating profit in the company's history. Uber generated the $1 .1 billion of free cash flow during the quarter. And joining us right now is the company's CEO, Dharikas Rajahid, the CEO of Uber. When you took over, by the way, I was looking, bookings were $14 billion, $33 billion right now. Free cash flow was negative $877 million, and so today is quite something for you. I don't know if you could see the stock. The stock up is now up about 4%, almost 5%. At one point it clicked up over 6%. But really, you look back even towards May, and it is now a straight line up. And what we're seeing in advertising is $650 million now of run rate revenue growing very significantly, and we're well on our way to a billion plus next year. All right, so there's a lot to break down here. I want to continue with a couple other clips. This is more of their vision for the future, Uber 3 .0. Let's go to that clip. I think you might have just completed 2 .0 of sorts. I don't know if you can take the victory lap on that front just yet. We're not ready for victory lap, but we've come a long way. And that was, let's be honest, that was almost a daily knife fight for you in terms of trying to get through it all. What is, to the extent you now are a platform, a profitable one, what does the 3 .0 version look like? Well, I think the 3 .0 version for Uber looks like essentially are connecting every single vehicle and driver who is available to take you any place in your local city. And to some extent, what that translates to is you're an operating system for everyday life in a city, right? When you combine that with ML and AI, we essentially are there for you, machine learning, artificial intelligence, we essentially are there for you. Any place you want to go, anything you want to get delivered to your home, as we get to know you more and more, we become more of a utility and more of a service that you can't do without. All right. That's good for Uber. And obviously, there are some things that they're doing that are starting to kind of tilt the scales a bit in their favor. And obviously, profitability, the idea of machine learning, AI being incorporated into the platform. But really, this is still pretty much a human interface. And drivers are still the iconic badge for Uber's success. I want to go to this third clip in terms of driver profitability so you can kind of get a framework. We'll go into that in a minute. So for example, drivers, couriers earn over $15 billion including tips on our platform. That was up 19%, which is up faster than overall gross bookings growth that was up 18%. So the increase in pricing is really going, the vast majority of that is going to drivers and couriers. And we think that's fair. All right. So some of the things I think you probably have heard this about Uber is they're a bit of a penny pincher. And they also are accused, in many cases, of really kind of abusing the driver network. This is a tweet here, just, Uber accused of price -surging customers if the phone battery is low. These are some of the shenanigans that have been played out. And Uber is not like any company. They're for -profit. They're trying to do the best they can. But when you get into these kind of scenarios like this, it does start to show badly. Now, the question will be, how does Uber and will Uber integrate more consumer -facing technology like blockchain, crypto acceptance, et cetera, that will open up some interesting things? I want to jump to this next clip that really gets into kind of the forethought of their crypto plans. Listen up. Is there any chance of Uber accepting Bitcoin in the future? Are you having conversations about this internally? Like could it happen someday? It definitely could. We're having conversations all the time. So we're absolutely watching it. And if you say, is Uber going to accept crypto in the future? Absolutely. At some point. This isn't the right point. But we will. Speaking of that, last time you were here, you said Uber will absolutely accept crypto someday. Someday. Any more details on that? It's demonstrated to be a real store of value. But it has not yet demonstrated its utility in terms of exchange of value, efficient exchange of value. You know, our average trip is a $15, $20 trip. So we need crypto to become more efficient. We're certainly looking at all choices. But if you ask me the same question a month from now, I think the answer is going to be the same. So interesting. I mean, the efficiency side of things, just to look at their drive platform for how to cash out with their thing called FlexPay. One of the things you'll notice here is Transfer completed one to two business days. So I mean, in most cases, bank transfers and transfers today are almost next day, with the exception of a handful of entities out there. I think Uber, being one of the leading technology companies and by far the leading ride -sharing platform, could easily leap to this. Now the question would be, could the platform of choice scale to what Uber's demands would be? They have millions and millions of customers using activity on some of these blockchains would be pretty significant. And one of the things that they could benefit from is some of the new technology. Now the question is whether or not Web3 applications will start to leap forward and above Uber, especially around fees. But before you think about that, outside of the ride -sharing side of things, Uber also has Uber Eats. Now this is the other aspect of their profitability. This is just how Uber Eats works currently with, if you're a restaurant, you're going to get charged a pretty heavy commission, I'm going to zoom in on that for you guys, starting at around 15 % right now, and pretty much standard across the board right now. And this is one of those things that is starting to, I would say, slightly soften mainly because of the fees for Uber Eats and also because of the pressure that we've seen from consumers who are now going back to dining and or doing pickup. Matter of fact, there's a lot of new data on that, of that very same situation. So Uber Eats may not necessarily be the path forward, at least as a huge profit center for Uber as a whole. I think their potential here is still ride -sharing. And the potential for this to really kind of accelerate is going to be interesting to watch because if crypto gets in the mix, it could be pretty significant. Here's just a little bit of research, ride -sharing market size worth around $344 billion by 2030. That's a pretty significant market, and if you just think about what Web3 would look like, what crypto would look like in here, this would be one of the gigantic companies that could really start to move, especially how adoption is done because I think ease of use is going to be a big factor here. Now, I want to kind of cover a few companies that we've talked about here on the show before. This is where we get into the Web3 side of things. If you're brand new to the show and you're trying to figure out, all right, how does this affect me? What can I invest in? What am I watching in terms of new technology? This is a good precursor to the ride -sharing side of things because there's a handful of companies that are developing on Solana. Now, Solana we talk about all the time. It's one of the, I would say, the blue chips of crypto right now. And these are some of the companies that are integrated within and or on the platform of Solana. And there's others out there, and we'll talk about a few of those. But Teleport right here is basically a ride -sharing that is as open as the internet. The idea is pretty straightforward. It's designed to be more of an open network of ride -sharing and how that might be utilized in the future. So we're going to see more of this, and I think when you think about Teleport and just what they've been able to do in a short period of time, you also have to kind of look at the team. This, of course, is their CEO. Remember, this guy is part and was part of the team that designed Dropbox, their point -to -point protocol. That's a pretty significant leap. I mean, when you look at the type of technology and also the engineers that are in the space. This is another one that has leaped to Web3, which is really great for Web3. It's great for innovation, and we're going to see more of that. I want to go to a clip of Teleport, their CEO, talking a little about what their vision is. Take a look.
A highlight from HUGE RIPPLE XRP NEWS! HEDERA HBAR HYUNDAI & BITCOIN SPOT ETF APPROVAL SOON?
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. This content is brought to you by Link2, which makes private equity investment easy. Link2 allows you to get access to companies before they go public, before they do an IPO. And within their portfolio includes crypto companies, AI companies, fintech companies as well. And some of the crypto companies you may recognize such as Chainalysis, Ripple, Polysign, Circle, Ledger, Dapper Labs, Uphold and many other big names. So Link2 allows you to diversify your portfolio to get equity shares in these companies before they go public. But if you'd like to learn more about Link2, please visit the links in the description. Well, folks, we've got some very big news around Ripple and XRP, and it's a lot. So be sure to watch the podcast to the end. And in addition, we're going to talk about HBAR as well as Bitcoin ETF approvals and what that's looking like. First, let's start with Monica Long, who I've had on the podcast. She's the president at Ripple and she was on CNBC, Fintech Effect, and talking about Ripple and what their plans are. And she made a very big statement, which actually should come as no surprise because XRP has clarity in the United States now. Here's the quote. We are re -engaging with a lot of the US market. So that absolutely makes sense. I think everyone's waiting in anticipation, which banks and payment companies and whatever else TradFi companies may use XRP. We know many are using XRP outside of the US already. Let me play a clip of what she had to say with that quote. So it's been a couple of weeks now since the judge's ruling in our case, providing clarity that XRP is not a security, which we're very happy about because it's all out of clarity in terms of how Ripple will operate its business going forward. And we are re -engaging with a lot of the US market. So there you have it. We are re -engaging with a lot of the US market. So I think let's keep our eyes and ears open, which banks and payment companies are going to leverage the XRP ledger in different ways. Now there was also a big report from CNBC around Ripple being listed in the world's top 200 fintech companies. So I'm sure Gary Gensler is really pissed off about this news. Here's a company, him and Jay Clayton and these guys tried to sue over XRP. It's listed as one of the 200 top fintech companies. And Ripple, of course, beat the SEC in the lawsuit where XRP was declared not a security. So this list was put out. Obviously, it's very long, so I'm not going to go through all the big names in here, but obviously, Ripple listed here. Some other crypto companies were in here as well. But great to see Ripple as a company and crypto companies as well are getting recognized for the solutions they are bringing for the future of payments and technology and the web. Right. We're entering that Web3 world where it's another layer on top of the Internet. Now, Ripple CEO Brad Garlinghouse highlighted the Q2 2023 XRP Markets report put out by Ripple, and he shared some thoughts how the regulators like corrupt scumbag regulator Gary Gensler were using that against them. He said, we began these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit. However, we remain steadfast in our commitment to transparency, but I suspect they're going to look a bit different moving forward. And here one user added the comment to Brad's tweet, saying one correction, Brad. When the SEC sued Ripple in 2020, 15 billion dollars in XRP market cap was eviscerated at the expense of U .S. holders. It was to all XRP holders. I am Australian yet still. So my XRP value decayed because of the SEC's actions. Brad said, you are absolutely correct. We should have caught that. Thank you for pointing it out. So one thing I highly respect about Ripple and this goes back to the early days, they put out these market reports showing in full transparency what they're doing. So you may not agree with certain things that they're doing, but at least they're transparent. And I wish more token projects would do this. Show us your monthly or it should be quarterly. I should say quarterly tokenomics reports. How are the tokens being distributed from a decentralization standpoint? Are there foundations? Are there any partnerships? What's happening? And I think token holders should know about that. And I think Ripple is really setting the standard here. And I think more projects and around the world, not just in the United States, but around the world should do this in an effort to build more trust and provide transparency so that we don't have an issue where scammers we know right away, hey, scammers don't want to put out these reports.
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"Of our best of Bloomberg series. And in this episode, we are hearing from one of the best known names in baseball, former Yankee slugger, Alex Rodriguez. He is currently chairman and CEO of a rod corp and an investor in everything from real estate to sports teams And even though he's a former baseball player, he's an investor in a basketball team as well. The Timberwolves franchise. And here's a rod with David Rubenstein on all of that. Let's listen in. While recently you did a deal that was a little bit bigger than a $48,000 down payment on a duplex, what it is is that you agreed with a partner to buy the Minnesota Timberwolves and the links, the female team as well. For a price that is was considered the time a pretty good price today, it might seem a little cheap, but pretty good price. It was $1.5 billion. So why would you want to buy a team in sport that you're not as famous for? Why not buy a baseball team? Well, it's funny you say that. One of the guys that I love growing up who's now a friend and a mentor is Magic Johnson. And we often laugh about that. He was a basketball legend, and he owns a baseball team with a Dodgers, and I played baseball for so many years, and I own a basketball team. The truth is, we try to make a run of the match. And we had a hell of a run. And we came second to Steve Cohen, who's doing an incredible job. And then we kind of wonder shut and their store opened. And Mark and I, my partner, Mark Laurie. We moved very quickly within 7 days. We understood all the levers we can pull. We understood sports was more than just baseball or basketball. That is this kind of 360 media entertainment sport enterprise. So once we saw the meds, that fell apart, we were able to move very quickly. Shake hands almost within 7 days with Glen Taylor and the rest is history. So usually when somebody buys a sports team, they buy either a 100% of it or whatever they're going to buy, they buy it one day, you're doing it kind of the installment plan. You bought initially, you put down, I think, 250 million or $300 million to buy 20%, and then it recently another 300 million or $400 million to buy another 20%. Now you have the remaining 60% your obligated to buy or 50% is that you own 40% now, right? Yes. And you have an agreement where you are going to buy at least another 50% to give you 90% more or less. Is that right? Plus or minus, yeah. So why did you do it that way as opposed to, say, here's all the money at once, or did you need to go raise the money, which is nothing wrong with doing that. So David, it was an interesting time. It was right after COVID. And when you looked at the trailing 12, you had 30 arenas, basically empty. And then the bubble happened in Disney. And I really kind of the art of the deal here was the price wasn't negotiable in terms were. And what we saw, which turned out to be a beautiful thing for Mark and I and my partner that Glenn Taylor would be the managing partner for another two and a half three years. And as we pay these installments, not only do we get to learn from Glen, but it turns out that I would advise this for any ownership, but they didn't just hand you the keys to the kingdom. You get to learn under someone like Glenn and Becky Taylor that have been doing it for almost 30 years. And it's just been a beautiful partnership and the transition has worked out very well. So many times in the investment world, you see people make a good deal. And once they make a good deal, people say, well, you should do another deal. Today, the deal you've done with the Minnesota Timberwolves seems to be from the outside a very, very attractive deal because recently a team was sold for $4 billion. The Phoenix Suns. And another team, a partial sale at roughly, I think a three and a half $1 billion valuation. You bought a team for about one point $5 billion. So 1.53 .54 billion. You seem like you have a pretty good deal there. So are you thinking of doing more deals or people calling up and saying, I'll give you some money to invest. We have a lot of phone calls in bounds that some we take, and we don't. There's a lot of great friends Titans like yourself in the industry that are intrigued about sports. They're intrigued about our deal about the structure. But what people don't talk about, David, it took me 25 years to get to a deal like that. My partner, Mark Laurie, has been one of the greatest entrepreneurs in ecommerce for the last 25 years. And we've both worked hard and it was kind of the perfect storm for us. And again, I think at the time it was a very fair price coming out of COVID. We didn't know it was COVID in the last two years or 5 years, or forever. I mean, it was a very scary time, and we stepped up and it's worked out well. Now, we're also not sellers. So you mentioned some really big and fancy numbers. But we want to have his asset for generations and generations. So you live in Miami, the team is in Minnesota, so obviously like M as a letter, but you have to go all the way to Minnesota to watch the games and go around the country. Is that a bit of a pain? Because it's not in your hometown. Well, we have that in common. I'm on the plane a lot. And I try to go to at least half the home games. When I sat down with some of my friends and mentors, the Jerry Jones of the world, Jerry reinsdorf, Robert and Jonathan Kraft. The one thing they talked about from the get go is Alex this can be a hobby. This has to be a lifestyle. If it's not that, do not get into it. You must be at games. You and your partner, Mark Laurie, have to be a games and be engaged and think about customer service first. Your partner, Mark Laurie, started jet dot com, which he sold to Walmart for a pretty good price. And he's well known in the business world. How did you get to know him? So we were introduced by
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"Bloomberg series. And in this episode, we are hearing from one of the best known names in baseball, former Yankee slugger, Alex Rodriguez. He is currently chairman and CEO of a rod corp and an investor in everything from real estate to sports teams. And even though he's a former baseball player, he's an investor in a basketball team as well. The Timberwolves franchise. And here's a rod with David Rubenstein on all of that. Let's listen in. While recently you did a deal that was a little bit bigger than a $48,000 down payment on a duplex, what it is is that you agreed with a partner to buy the Minnesota Timberwolves and the links, the female team as well. For a price that is was considered the time a pretty good price today, it might seem a little cheap, but pretty good price. It was $1.5 billion. So why would you want to buy a team in sport that you're not as famous for? Why not buy a baseball team? Well, it's funny you say that. One of the guys that I love growing up who's now a friend and a mentor is Magic Johnson. And we often laugh about that. He was a basketball legend, and he owns a baseball team with a doctor. And I played basketball for so many years, and I own a basketball team. The truth is, we try to make a run of the match. And we had a hell of a run. And we came second to Steve Cohen, who's doing an incredible job. And then we kind of wonder shut and this door opened. And Mark and I, my partner, Mark Laurie. We moved very quickly within 7 days. We understood all the levers we can pull. We understood the sports was more than just baseball or basketball. That is this kind of 360 media entertainment sport enterprise. So once we saw the mets deal, that fell apart, we were able to move very quickly. Shake hands almost within 7 days with Glen Taylor and the rest is history. So usually when somebody buys a sports team, they buy either a 100% of it or whatever they're going to buy. They buy it one day. You're doing it kind of the installment plan. You bought initially, you put down, I think, 250 million or $300 million to buy 20%, and then it recently another 300 million or $400 million to buy another 20%. Now you have the remaining 60% your obligated to buy or 50% is that you own 40% now, right? Yes. And you have an agreement where you are going to buy at least another 50% to give you 90% more or less. Is that right? Plus or minus, yeah. So why did you do it that way as opposed to, say, here's all the money at once, or did you need to go raise the money, which is nothing wrong with doing that. So David, it was an interesting time. It was right after COVID. And when you looked at the trailing 12, you had 30 arenas, basically empty. And then the bubble happened in Disney. And I really kind of the art of the deal here was the price wasn't negotiable in terms were. And what we saw, which turned out to be a beautiful thing for Mark and I, my partner, that Glenn Taylor would be the managing partner for another two and a half three years. And as we pay these installments, not only do we get to learn from Glen, but it turns out that I would advise this for any ownership, but they didn't just hand you the keys to the kingdom. You get to learn under someone like Glenn and Becky Taylor that have been doing it for almost 30 years. And it's just been a beautiful partnership and the transition has worked out very well. So many times in the investment world, you see people make a good deal. And once they make a good deal, people say, well, you should do another deal. Today, the deal you've done with the Minnesota Timberwolves seems to be from the outside a very, very attractive deal because recently a team was sold for $4 billion. The Phoenix Suns. And another team, a partial sale at roughly, I think a three and a half $1 billion valuation. You bought a team for about one point $5 billion. So 1.53 .54 billion. You seem like you have a pretty good deal there. So are you thinking of doing more deals or people calling up and saying, I'll give you some money to invest. We have a lot of phone calls in bounds that some we take, some we don't. There's a lot of great friends Titans like yourself in the industry that are intrigued about sports. They're intrigued about our deal about the structure. But what people don't talk about, David, it took me 25 years to get to a deal like that. My partner, Mark Laurie has been one of the greatest entrepreneurs in ecommerce for the last 25 years. And we've both worked hard and it was kind of the perfect storm for us. And again, I think at the time it was a very fair price coming out of COVID. We didn't know if it was COVID in the last two years or 5 years, or forever. I mean, it was a very scary time, and we stepped up and it's worked out well. Now, we're also not sellers. So you mentioned some really big and fancy numbers. But we want to have his asset for generations and generations. So you live in Miami, the team is in Minnesota, so obviously like M as a letter, but you have to go all the way to Minnesota to watch the games and go around the country. Is that a bit of a pain? Because it's not in your hometown. Well, we have that in common. I'm on the plane a lot. And I try to go to at least half the home games. When I sat down with some of my friends and mentors, the Jerry Jones of the world, Jerry reinsdorf, Robert and Jonathan Kraft, the one thing they talked about from the get go is Alex this can be a hobby. This has to be a lifestyle. If it's not that, do not get into it. You must be a game. You and your partner, Mark Laurie, have to be a games and be engaged and think about customer service first. Your partner, Mark Laurie, started jet dot com, which he sold to Walmart for a pretty good price. And he's well known in the business world. How did you get to know him? So we were introduced by a mutual friend
"$ 1.5 billion" Discussed on Northwest Newsradio
"It also directs 2.6 billion toward the Washington sea patrol. Most significantly the two year budget pumps $5.4 billion into major highway projects, and even with that much money, governor Jay inslee hints some projects may get priority over others. One such project is known as the Spokane north corridor, a ten mile, $1.5 billion north south freeway, championed by democratic representative markets for. We don't want to posit we want folks to move quicker to get homes their families. In an efficient way and a safe way. Other funded projects include the long side I 5 interstate bridge across the Columbia river, and the puget sound gateway between Pueblo and the port of Tacoma, completing highways 5 O 9 and one 6 7. Corwin Hague, northwest, news radio. Northwest news time, one 34. We check your traffic every ten minutes on the forest from the high performance homes traffic center. Here's Kimi Klein. Near Federal Way northam 5 approaching south two 72nd, we have a car fire response, it's blocking two right lanes, firetrucks, pretty much sprayed it down now, but again, it's causing some sudden delays. Just north of three 20th and Federal Way up to two 72nd luckily very brief so far. Still looking at an odd slowdown west spent on the west Seattle bridge from I 5 right up towards highway 99. It might just be truck traffic, but just prepare for some slowing there. We also had heard of a stalled vehicle state patrol said there was a stall north down 5 and Everett near marine V drive, no details on what's blocked, but traffic is backing up past 41st all the way to that scene. We're also just a little crowded now on south and four or 5 right around the kennydale hill not too bad though, we're still wide open on our floating bridges on 5 20 and I 90 and we're looking good on I 5 around the Tacoma dome all around JBL M and through Olympia. This support is sponsored by Wendy's $3 breakfast deal. Get the Wendy's $3 breakfast deal, choose either the bacon or sausage, egg and Swiss croissant, plus a small seasoned potatoes for just $3, limited time only at participating U.S. Wendy's during breakfast hours. New next northwest traffic at one 44. Our forecast now sponsored by northwest crawl space services. Here's como four meteorologist Kristen Clarke. Son, clouds, and even a brief shower still anticipated through this evening, so you may encounter that driving to and from climate pledge arena for the big crack in game tonight.
Rep. Dan Bishop: Omnibus Bill Is a Betryal of the American People
"A listen to something that representative Dan bishop has had to say about the omnibus bill say that 5 times fast clip 6 This is the way Washington works This is the system in Washington It's not a departure from the system It's what the uni party wants to do actually if you include all $15 billion plus an earmarks it clocks in at $1.85 trillion over 4800 pages when you include all that It's a betrayal of the American people 47 billion more for Ukraine $11 billion for the FBI before we've had a chance at the first witness to see what they're doing in terms of sensory speech and harassing Americans half a $1 billion more than the Biden administration asked for $400 million for a new FBI headquarters They have the provision in their 1 billion 5 and operating funds for the customs and border patrol is prohibited from being used for security of the American border but $400 million for the border security of certain eastern certain Middle Eastern countries like Egypt is just amazing what they've done It's a betrayal by Republican senators Mitch McConnell and Republican senators It's a middle finger in the face of Americans
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"It's like 5 We do mornings at 7 eastern on Bloomberg radio and Bloomberg television President Biden is wrapping up his trip to South Korea Jim Forbes has details Biden ended his visit to solon Sunday by appearing publicly with the chairman of the Hyundai motor group and praised Hyundai's decision to build a $5 billion electric vehicle plan in Georgia Biden said electric vehicles are quote good for our climate goals and good for business An emergency shipment of baby formula will soon be hitting U.S. store shelves The first batch from operation flight formula arrived in Indiana today aboard an air force cargo plane from Germany It contains about 130 pallets of Nestlé infant formula in a tweet President Biden set up to one and a half million bottles worth of formula will be on American shelves as soon as possible Representative Hakeem Jeffries is confident that Democrats will continue to hold the majority following the midterm elections appearing on CBS's face the nation the New York Democrats stated that while the electorate is unsettled there is much to celebrate in terms of progress despite Biden's sagging approval rating That's the latest I'm Dina kodiak And I'm Susanna Palmer in the Bloomberg newsroom hot again today A heat advisory is an effect until 6 p.m. for west and northwest of the city Saudi Arabia's sovereign wealth fund has bought a one and a half $1 billion stake in the investment company of billionaire prince alwaleed bin talal You'll remember he previously reached an undisclosed deal with the country's government after being detained and accused of corruption The public investment fund acquired 16.9% of kingdom holding company from prince alwaleed He will retain 78.1% of the company Russian tycoons are steering clear of the lyrics see this year usually a favorite hangout among sunny Spanish islands famed for nightclubs and party life This to avoid having their mega yachts seized We get more about that from Bloomberg's Greg Jarrett Best known for the resort islands of Majorca and Ibiza just one vessel tied to a sanctioned Russian tycoon was spotted in the region of the spring After Russia invaded Ukraine and sanctions were quickly imposed This is according to an analysis for Bloomberg news by spire global which provides maritime intelligence data Bloomberg's Greg Jarrett there with prices across the economy from food gas and rent to cars airfares and hotel rooms soaring at their fastest pace and decades you might think Americans would tap the brakes on spending but not so far Consumers as a whole are not only used to staining their spending but increasing it even after adjusting for inflation In April the government said retail sales outpaced inflation for a fourth straight month yet at the same time there are some signs that some people especially in lower income households are starting to cut back by shifting to lower priced or alternative items or by skipping some purchases altogether as inflation shrinks their disposable income Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg Your listening to balance of power with David Westin on Bloomberg radio The.
Joy Reid Accuses Elon Musk of 'Misappropriating Black Vernacular for Misogynistic Purposes'
"Start with this story. Somewhat obscure perhaps. You know who Elon Musk is? Richest man in America, rich is person in America. And it's going to be paying $15 billion in taxes this year, unfortunately for Californian since he's now relocated to Florida, California won't get the state income taxes. They otherwise would have gotten had he remained. But I digress. And he has been slammed by Elizabeth Warren. On the joy read show, that I watched you don't have to on MSNBC. And Elizabeth Warren made the case that Elon Musk use a great deal of taxpayer money in order to launch some of his projects, including Tesla. And mosque, as you know, not shy, referred to her as senator Karen. And reminded everybody that she faked her heritage as a Native American in order to get an advantage. To become a professor at Harvard. And he accused joy Reid of being her lobbyist. And joy Reid shot back and accused him of cultural appropriation for using the term Karen to insult. Elizabeth Warren, because it's a term that was invented by black people, she said. Si. Elon wasn't happy. He did what he always did and stopped his little feet insulted senator Warren. Calling her an angry mom and referring to her as senator Aaron. So for so many reasons, being a freeloader and a selfish and disrespectful one. And for misappropriating black vernacular from his odd purposes, Elon Musk is the absolute worst. Meanwhile senator Warren has better things to do than fight with junior Birdman on Twitter. Wow. Call him a freeloader.
New Orleans' $15 Billion Levee Held. But Another Problem Looms
"Richard hello. Hey kevin how are you. I'm doing okay how are you. I'm good i'm here. Where are you. I am in my parents house in uptown new orleans they've evacuated and we're trying to figure out right now whether like tens of thousands of people whether it's going to be okay for them to come back without electricity. It's just really really a slog here. It looks pretty dark there. Do you have power. So how are you. You're just talking to us because you have a lot of chargers for your cell phone or something. Yeah exactly run off a batteries and it's just becomes this this constant kind of juggling active running stuff off your car charging batteries lying in the in the tennessee williams sense on the kindness of strangers. And who are some of the people you've been and talking to well. After the storm. I kind of set out and visited a few parts of the city to see how people you have a hard time getting by on a sunny day or doing so one of the places i headed to was new orleans. East which is a low lying very flood-prone part of the city. There is a apartment complex in new orleans. East called the willows which was badly damaged in hurricane katrina. It's been fixed up and a lot of working class. People were living there. Hey what's your name. My name's andrew. How do you spell dontrelle deal including dontrelle anderson. What do you do for a living right. Now i'm here to the ball in street to street a real and i work around the bond. Okay now. also he's a guy his thirty s. He was on a bicycle. His car's in the shop and he was trying to think creatively about how to think his way out of a place. That was incredibly hot. An incredibly unpleasant like right. Now i'm coverlet riding around. Look somebody to help me get him. I try to have leaks. I fully gone on your car right. So you'd want it to get out of town but you couldn't because you had slowly on the time i don't have leaks on the ties but is like i know i mean i could've went to ban rules here here now. What i do when i get them. What would it cost me going. Yeah so the problem. The don drill many people in the city of new orleans faces is Pretty basic and also pretty tragic done drills case It was a question of having access to a car that could get him out of this kind of this zone of suffering.
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"Another body is being pulled from the rubble of the South Florida condo collapse. Miami Dade County Mayor Daniella Levine Cava says the death toll now stands at 79. Nearly half of the US population is fully vaccinated against the coronavirus. Brian Shook has more CDC numbers published Friday showed just under 48% have gotten all the necessary shots. 20 states have fully vaccinated more than half of their residents, while three states have fewer than 35% fully protected this as health officials push for more Americans to roll up their sleeves with the rise of the delta very in The CDC mentioned this week that Delta accounts for half of all new covid cases in the country. I'm Brian shook. The Biden administration is canceling $55.6 million in student loans for victims of fraud under President Biden. More than $1.5 billion in debt has been canceled for nearly 92,000 people. I'm Brad sequel and I'm Susanna Palmer in the Bloomberg newsroom The Cyberspace Administration of China has proposed a new rules that would require nearly all Chinese companies seeking to list in foreign countries such as the U. S to undergo a cyber security review. That's a move that would significantly tighten oversight over its Internet. Giants stocks had their third weekly gain. The S and P 500 rose to another record on Friday, led by banks and technology stocks. But some analysts are urging caution. Jim Paulsen is chief investment strategist at Leuthold Weeden Capital. You got Covid variant up scaring people. You You've got inflation surging here. You got fed talking, tapering. You got the M two money supply contracting. You got the stock market wondering what the bond market knows that stock investors don't so there's a lot of negative pressure. For the week, the S and P 500 rose 4/10 of 1%. The Dow Jones industrials up 2/10 of 1%, the NASDAQ rose 4/10 of 1% this week. NYPD officials teamed up with N. Y C district attorneys and federal officials Friday to announce an anti violence program to open 100 gyms throughout the city on Saturday nights. Is in an effort to find young people, a place where they could play sports and learn other skills more from Bloomberg's Denny's Pellegrini. It's being called Saturday Night lights and the sports spaces will be open in all five boroughs. This program is an expansion of an earlier smaller one started a few years ago by Manhattan, D. A. Cyrus Vance Jr to bring high quality sports activities to youth in Harlem. Children between the ages of 11.
"$ 1.5 billion" Discussed on WHAS 840 AM
"Starting to build out a Buckner and Crestwood, but no backups yet at the Snyder or the Waterson Expressway. Our next report in 10 minutes. I'm Bobby Ellis NewsRadio. 8 40 w H A s I'm Wook Why meteorologist Matt Milicevic. Your Thursday forecast will have us grabbing the umbrella is not an all day rain but will dodge some scattered showers and storm chances otherwise warm and muggy with highs near 88. We trend dryer tonight lows down the 70 high Is it 88 again tomorrow with a mix of clouds and sunshine and a little less humid. But the rain chances return even a few storms for the weekend with high staying in the eighties. Saturday and Sunday. That's your W L K Y forecast a meteorologist Mammal OSA Veg, Kentucky, Anna's drinking news, weather and Traffic station. This is news radio 8 40. W H A s Your news now. Good morning. It's 7 32. I'm Will Clark News radio. A 40 W H A s will start in Frankfurt, where a new investigative team has been Created with a focus on cold case sexual assaults in the Commonwealth. Paul Miles takes a look at it. $1.5 billion in federal funding will support a Kentucky state police sexual assault team that will include three trained investigators and a criminal intelligence analyst. Among them is Trooper Janet Barnett. We must support all efforts to curb sexual assault and provide a voice to the victims. So they no longer have to suffer in silence and the ksb sake. Investigators Ready to be that voice. The team will investigate cold case sex crimes where the testing of old rape kits or new DNA evidence could lead to arrest. Call Miles NewsRadio, 8 40 W. H. A s the Louisville Urban League, announcing more money will go towards the continuation of the Kentucky Anna builds program over $500,000 of federal money will be going to the program, which puts participants through six weeks of hands on training. It also helps with career focused management, job placement and work related incentives to recruit people for the construction sector. Lieutenant Governor Jacqueline Coleman Now we have an opportunity..
"$ 1.5 billion" Discussed on X96
"Today You have your health plans dot org's Well for much of 2020, the world's leading athletes were sidelined, working for reduced pay, playing to empty seats or isolated and competitive bubbles. But don't fret they still made money. 10 highest paid athletes in the world took home pretext gross earnings of $1.5 billion during the last 12 months Now it's usually have been Floyd Mayweather lately, but but he definitely wasn't doing any boxing matches this year, so he's fallen off the top spot. Top spot, though. Connor McGregor $180 million. Wow, That's not like how much he's worth, You know, just in total. That's just last year. It's a year. Wow. Lionel Messi 130 million Cristiano Ronaldo 120 million Dak Prescott. There's your football 107 million LeBron James 96 million Neymar 96 million. This is this is all down year when when they took pay cuts. Roger Federer 90 million Lewis Hamilton. There's your car racing guy that Ed brass talked about all the time $82 million. Let's see. The Jazz played the Oklahoma City Thunder today at six p.m.. And the bees are on a stand with Tacoma. They play tonight at 6 35, and to come was in town for the next five days. So, uh, actually today be a really nice day to go.
"$ 1.5 billion" Discussed on WGR 550 Sports Radio
"Three more draft picks and six undrafted free agents. The bills actually are running their rookie minicamp this weekend. Kansas City has traded for cornerback. My cues from the Minnesota Vikings the Yankees lost to Tampa last night. The bigger story right now with the Yankees is the covert or would be the Koven issues they're dealing with now. It had been limited to coaching and support staff. But Glaber Torres is on the injured list. He tested positive for what the Yankees are calling. Ah, rather I want to get the wording, right? Um Shoot. It's like a covert, aggressive covert variant that they're dealing with in their clubhouse. Right now. The Jays beat Atlanta about the Jays or six. You know, against the Braves this season on behalf of Mets fans out there. Thank you, Toronto. Bisons beat Rochester. NHL news. Colorado clinched the president's trophy last night. The Rangers have requested permission from Vegas to speak with Gerard Gallant about the coaching vacancy in New York. A Rod is part of a group that's buying the Minnesota Timberwolves for $1.5 billion and The Preakness is tomorrow night, 6 50 Post time We'll have it here on WJR. Those are your paddock. Chevrolet Headlines. Paddock Chevrolet with you for the extra mile Next update seven o'clock. Helpful talking to people around the league Yesterday, I had a NHL general manager who is potentially interested in trading for Jack Eichel say at the moment, he's untradeable. So you've got a guy that's unhealthy, unhappy and now potentially untradeable. It's a pretty ugly triumvirate for the sabers and the worst case scenario, I would imagine. I still think even at this very moment, there seems that would be willing to take a risk provided that they reviewed the medical records to trade for a superstar like Jack Eichel. But when Kevin Adams says he yesterday that his goal and what's most Paramount is Jack Eichel's health. That's a big reason why, Because it's going to play a big factor in terms.
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"Mm hmm. Yep. Dan Schwartz been taking a look at the race here at the top, particularly the top four of the Premier League. Getting pretty interesting. Dad. Yeah. Brian Liverpool. They moved to now now within four points that top four with three matches remaining with the 40 to 1 of the Manchester United at Old Trafford in a match rescheduled from a second that was due to the rights that occurred, It'll Trafford. As Roberto Firmino scores embrace the Reds with loss. The Red Devils cannot extend the four point lead over Leicester City for second place in the table two matches remaining. Meanwhile, Everton's chances to move into the top six take a hit is the top He's playing Aston Villa Go scoreless cross remain two points behind West and let's look at Spain around Madrid, moving ahead of Barcelona for second place in the league. A table just two points behind Atletico Madrid with a 4 to 1 away win over Granada. Derriere. Dello Sport reports that despite interval on winning Syria on this season for the first time since 2000 and 10 club will have to sell star such as Rob Lukaku and Lautaro Martinez due to serious financial troubles, Yankee shortstop Labor tourist has been placed on the injured list after testing positive for Corona virus for the second time in less than a year. Torres who once fully vaccinated Now the eighth Yankees players coaches staff member who test positive in less than a week. Baseball scoreboard. Local teams in action just underway. San Francisco have Pittsburgh no score earlier. Washington wins at home over Philadelphia 5 to 1 first pitch in about 30 minutes Yankees on the road in Tampa Bay in Boston and also heard on AM 9 60 in the Bay Area. Oakland is at the Red Sox. Meanwhile, how about this? A verbal agreement has been reached for Glen Taylor to sell the Minnesota Timberwolves and the WNBA's links. The 50 50 partners Alex Rodriguez and e commerce billionaire Marc Lore for $1.5 billion On the enforcement that your Bloomberg will sports update shot. Thank you very much. Indeed. This.
"$ 1.5 billion" Discussed on KCRW
"NPR's Windsor Johnston reports. The CDC is announcement a short time ago marks a major shift in its guidance says the United States continues to see coronavirus caseloads fall and has a new studies reinforce. At the three Cove in 19. Vaccines in circulation are working. CDC director Dr Rochelle Walensky says. Based on the latest science fully vaccinated, people can resume most activities both indoors and outdoors safely without a mask or physical distancing. If you are fully vaccinated, you can start doing the things that you had stopped doing because of the pandemic. We have all longed For this moment. The updated guidance still recommends that vaccinated people where facial coverings on planes, mass transit trains and in crowded indoor spaces like hospitals. Windsor Johnston. NPR NEWS Washington It's far different scene in India, where infections and covert deaths have been setting daily records. International aid continues to be sent to help hospitals and during medical supply shortages in the South Asian country. Meanwhile, British Prime Minister Boris Johnson says he's anxious about the more infectious coronavirus. Varian. First detected in India spreading in England. NPR's Frank Langfitt reports from London, the government scientific Advisors air meeting today to discuss the risks. Johnson said there was no evidence to suggest the government needs to postpone the easing of covert 19 restrictions in England, with pubs and restaurants had to reopen indoors on Monday, but the prime minister did not rule out reintroducing restrictions in some regions. Officials are concerned about the town of Bolton, which has the second highest rate of covert infections in England. Earlier this week, Regional officials urged everyone over the age of 16 to get a vaccination. The British government bungled its battle with covert last year, leaving the highest death toll in Europe, but it now has one of the best vaccination records when compared to the most populous countries in the world. Frank Langfitt. NPR NEWS London WHO Senate Judiciary Committee is deadlocked along party lines on President Biden's picked to lead the civil rights division of the Justice Department. NPR's Carrie Johnson reports Majority Leader Chuck Schumer can still move to advance a nomination to the full Senate. It might take a while longer. But Democrats can use a procedural tool to move forward with Christian Clark's nomination. If confirmed, she'd be the first woman and the first black woman to win Senate approval for the civil rights post. Clark has worked to fight hate crimes and advance voting rights at the Justice Department and the Police Appeal Legal Defense Fund and in the New York Attorney General's Office. Todd Kim, who's in line to lead the environment division at Justice did win support from some Republicans on the Judiciary Committee. Kim served as a top lawyer in the D C government earlier in his career. Carrie Johnson NPR NEWS Washington It's NPR. Tesla has taken a U turn on Bitcoin just three months ago. The electric automaker embrace the controversial Cryptocurrency. Now it's turning away. NPR's Camila Domina Ski report CEO Elon Musk says it's because of environmental concerns. In February, Tesla announced it would accept Bitcoin as payment for its vehicles and would invest $1.5 billion in the volatile online currency. It was a good investment and helped boost Tesla's profits last quarter, but the company was swiftly criticized for move at odds with its eco friendly aspirations. Creating more Bitcoin takes an astonishing amount of electricity. That's adding to the world's energy needs without reducing demand for power anywhere else this week, Elon musk tweeted that the company would no longer accept or sell Bitcoin, citing increasing use of fossil fuels to power. The currency. The value of Bitcoin promptly dropped. Camilla Domino Ski NPR news Federal investigators are expected to offer more details today about what might have caused yesterday's mid air plane collision that in a stunning turn of events, everyone involved managed to survive. Of small planes were able to land at a regional airport near Denver. No one was hurt. Federal and local authorities have released air traffic control audio that reveals the pilot of a twin engine. Fairchild Metro liner requested emergency landing for engine failure, apparently unaware. His plane had sustained major damage to its tail.
"$ 1.5 billion" Discussed on WBZ NewsRadio 1030
"Now. Whether you want to go to the game is a whole other question. Ticket sales experts say This may be the most anticipated game of the regular season and Somerville James RoHaas WBZ Boston's news radio landscape in college hockey, is changing with a big Hockey East upset the associate head coach at U Mass. Asked. Ben Bar is jumping ship from the national champs to a head coaching gig at the University of Maine Bar becomes the new men's ice hockey coach for the black Bears. Take over the program for the late red Genderen, who died in April. It's a 49 Sunshine 59 degrees here in Boston. Fast food giants are raising wages as they struggled to find new workers. CBS News correspondent Jim Priscilla has more McDonald's will increase pay at 650 company owned stores of the U. S. To help attract new workers in a tight labor market. McDonald's will raise pay an average of 10% to $13 per hour rising to $15 per hour by 2024 supposedly has also announced pay hike. McDonald's is largely run by franchisees, which are also being urged by the company to raise the wages as well. Warmer weather here in Boston today and right through the way You can do that certainly feels good. But it's also a big red flag and a warning sign for the Environmental Protection Agency. Scientists say there are that climate change is not only ramping up in the United States, the effects are becoming more severe, and the change is noticeable in just the past few years. This will say wildfires are bigger and starting earlier in the year, heat waves are more frequent and damaging storms are now packing and even heavier punch. This sounded like a great idea for the environment just a few weeks ago, But Tesla has now begun to think twice. It was just over. Three months ago, the Tesla bought $1.5 billion worth of Bitcoin with plans to use it for payments and other transactions. CEO Elon Musk says the environmentally friendly electric automaker will no longer accept or sell the crypto currency. Musk says Bitcoin uses fossil fuels for mining transactions, especially those involving Cole. He tweets things good change of Bitcoin moves to more sustainable fuels. Peter King CBS News It is a mess on the roadways. 8 51. We'll check him out Next. The Loop is five minutes of news from the number one news.
"$ 1.5 billion" Discussed on WSB-AM
"Atlanta's morning news here's Marcie Williams jumping about President Biden tells the emergency use authorization for the visor vaccine for kids, 12 and up. He also notes that the U. S. Will hit another milestone today across 250 million vaccine shots administered since I took office. I think it's a pretty consequences of achievement for the nation. He says. He doesn't believe in widespread vaccine hesitancy, noting Americans will get the shot if it's offered near. The Atlanta based CDC finds more cases of blood clotting associated with the Johnson and Johnson covert vaccine, although the overall rate remain Is extremely low, The agency says. It's identified 28 cases among the nearly nine million people who have received the shot as of May 7th. That number was 17 2.5 weeks ago. Sarah Bartlett reports, the CDC notes. All cases were reported before the vaccines. 10 Day pause Last month, Ohio Governor Mike DeWine's offering new lottery games to push more people to get vaccinated in a state. First. There's a million dollar drawing every Wednesday for five weeks, starting May 26th There's no cash outlay. Each player's simply has to be an adult who has haven't least one vaccine doses to McGuire reports. Another game offers full scholarships for five vaccinated teens to a state public University, Ohio's mask, mandate and other restrictions in June 2nd. You're out of luck. If you were hoping to use Bitcoin to buy a new Tesla. It was just over. Three months ago, the Tesla bought $1.5 billion worth of Bitcoin with Plans to use it for payments and other transactions. CEO Elon Musk says the environmentally friendly electric automaker will no longer accept or sell the crypto currency. CBS correspondent Peter King says musk claims Bitcoin uses fossil fuels, He says things could change though in the future. WSB news time 7 56 Next time you check whether in trapping given us.
"$ 1.5 billion" Discussed on KFI AM 640
"National Burrito Day was April 1st and Chipotle I gave away $100,000 in Bitcoin, figuring that was a good marketing idea. Uber says they're going to let users pay for their rides in Bitcoin. Clearly, Bitcoin is becoming mainstream. We're seeing it in ordinary everyday life in a commercial and transactional nature. J. P. Morgan just released a survey of 3400 institutional investors more than half 58% said. Digital assets are here to stay. That's a big shift in attitude. Where is only a few years ago? A lot of folks consider Bitcoin to be a fad that would soon go away. Now, the majority say the opposite 22% of those institutional investors say they're planning to buy digital assets. 7% say Bitcoin will become quote one of the most important assets. Citigroup wrote a report saying Bitcoin is at a tipping point and could one day become the currency of choice for international trade. The CFO of Square says Bitcoin has the potential to become the native currency of the Internet. And so no wonder endowment funds are buying Bitcoin, Harvard, Yale Brown University of Michigan, Dartmouth, Stanford M. I T University of North Carolina. CalPERS, the nation's largest pension plan, bought shares in riot Blockchain. That's a company that does Bitcoin mining. And the CEO of New York Life who's also the chair of the American Council of Life Insurers, has joined the board of the New York Digital investment group already on the board, the CEO of Square Both New York Life and Morgan Stanley have invested in my dig. And then there were billionaires. Mark Cuban says his own Bitcoin for years, billionaire Ray Dalio says Bitcoin is quote one hell of an invention. There's a new venture Capital fund just recently created with investors, including billionaire Paul Tudor Jones, the former Pepsi C E O L L. Cool J. Apollo co founder and billionaire Josh Harris. Venture capitalist Jeff Yang, the former CEO of Twitter. Anthony Noto, Vincent Viola. He's the owner of the Florida Panthers, and Joe Moglia, the former CEO of TD Ameritrade. And Elon Musk is well known as a huge supporter of Bitcoin. Tesler bought $1.5 billion worth of it and says they're going to let their customers by Tesla's with Bitcoin. Already in America, a third of small and midsize American businesses accept Bitcoin Twitter says it might buy Bitcoin. The Motley fool already did. They bought $5 million worth of it. And Kevin O'Leary, who used to hate Bitcoin now says he's putting 3% of his portfolio into it. There are a lot more folks who are pretty favorable about this, and we'll talk about them next. Here on the Rick Adelman show..
"$ 1.5 billion" Discussed on Biz Talk Radio
"Investors with Gary called Bob. Welcome once again to investors edge. Bernie made off got away with what he did because he was making people money or so they thought. So they thought Making a ton of money, never lose money. So they thought Everything will be fine. So they thought Everybody believed so they thought And they had people selling his product, so they thought and then an accountant came around. An analyst and saw that wait a minute is investing philosophy had to lose money in the bear markets, and it showed he wasn't so investigating. He came to the conclusion it was a scam. People fell for gargantuan scam because They were making money. We have a motto. We have a motto. See we have massive debt and deficits. Massive debt and deficits. That's not good news, is it? $1.5 billion a day and grows every day goes towards interest on our debt. You know how they complain? They don't have money in D. C. 1.5 billion a day goes into the crapper. Three billion a day is added to our debt and grows every day. But what's our line? Don't worry. Everything's fine. As long as the markets go up and you're making money. Don't worry about termites. Don't worry about big termites. As long as you're making money. That's the grab. And that's what Ben Bernanke, Janet Yellen and Jay Powell have perfected I'm not putting him in a class of Bernie made off. But I am putting him in a class of a big, gigantic con. Because Nothing's wrong. As long as the market goes up. Don't worry if it's 50 trillion of debt. As long as the market goes up. They recognize that the printing of money Outrageous sums will lift markets, but I've called them on it for ages. And I'm calling him on a big time because now they want you to believe as you look outside your window and you see clear skies, they want you to believe it's raining. And if you looked out your window and you saw storms I'm going to tell you it's sunny out. Janet Yellen today had the nerve our Treasury secretary, the protector of our treasure. She's not worried about inflation. How you guys doing with things you buy. Going down in price or up. You all have homework this weekend. Go on your computer and put up these words. The chart of lumber. The chart of aluminum. The chart of copper the chart of coffee, the chart of nickel cobalt. Commodities are skyrocketing. Businesses are out loud, saying, We have to pass on the cost of the consumer. We're gonna lose a ton of money. Janet Yellen. Played Bernie made off very well today. Not worried about inflation. Oh, they're worried. They're preg. She made off to you today. J. Powell's been made offing you as these prices skyrocket. Joe Biden on that very weak employment number that Don't believe Because the market didn't believe it today. If the economy was weakening. We would not have these moves. Bond market yields went up today after being down economically sensitive areas were up today. I just highlighted FIA Joe Biden had the nerve to say in order to help the economy. We need to tax your seven trillion bucks, take it out of your hands and put it into mine and I'll decide to do with it. The nerve of this Marxist. That's what we're getting now. Look at you in the eye and actually tell you the nerve to tell you that taking seven trillion bucks out of the economy and putting it in government sands that have taken us the 30 trillion of debt and in order to cover the arses of that death, print, trillions and trillions of dollars and continuing to print trillions. Keep rates at zero by screwing you the saver. You you, the innocents. Savor that just wants a little money off their riskless IQ of investments that tell me to go Screw yourself. Screw you shove it. That's what these two did today. In order the bet things better give us seven trillion Because I'm Joe Biden. Here I come to save the day. Joe Biden is on the way and he knows what better to do with $7 trillion than you do. Oh, but it's only the 1%. Bullcrap. It's every one of you. Is going to get waxed. And any one of you that one upward mobility and become wealthy. It would become that much tougher and that's what Marxism and socialism is the enemy. Of those two nightmares. Our success and wealth, and that's why they try to crush success and wealth. It is an age old nightmare that is destroyed Venezuela about destroy Peru and is destroyed any country that has gone there And don't believe the bull crap. Well, look, a Denmark They got capitalism. Run amok over there. I've been there. We believe it A safety net here. We don't believe in human infrastructure like they're trying to con you with made off you. That's the latest game member. They went from global cooling to global warming and was called off again. They with the climate change so they could never be wrong. The con Now. It's government knows best. Up yours. Business up yours, businessman. Up yours upward mobility. We know better. I'm talking to you liberals out there that think government is the answer to all they crush opportunity. The crush. The job market they crush. Your chance. Wealth and.
New York City Launches Push to Vaccinate Theater Workers
"The show must go on. Finally in New York City is taking steps to ensure that happens safely. In the next month, the city will set up vaccination sites dedicated to the theater community, a mobile unit for off Broadway workers and pop up testing sites near venues. The city will also help theaters plan how to manage crowds before and after Broadway shows. The $15 billion Theater industry, which supports 100,000 jobs, hopes to raise the curtains by the
Target keeps sales momentum going during pandemic
"Reports that will plow $4 billion into its stores updating locations as well. A speeding up its delivery network target, hoping to extend its sale streak that saw fourth quarter sales rise by over $15 billion. Despite recent down trends and the China virus target executives say they want to keep up with increasing demands during the pandemic.
"$ 1.5 billion" Discussed on Bloomberg Radio New York
"A site 30 Monday morning in Hong Kong. 11 30 here in Sydney. I'm Paul Allen and I've dug prisoner at the Bloomberg Interactive Brokers Studio in New York. We still have many markets on holiday for the Lunar New Year. We do have trading in Japan, South Korea and in Australia, Paul Moments ago, the Nikkei 2 25 was above 30,000 for the first time. Since 1990 Brian Curtis will be by with a look at market action in a moment or two right now, a few of this hour's top business stories, Paul Well we've been talking about Bitcoin Reaching a new wrinkle of today Rose about 49,000 for the first time right now, 48,007 19. Bitcoins been IDed in recent months by endorsements from notable such as Paul Tudor Jones and Stan Druckenmiller. Bloomberg's Adam Haig told us there's also evidence that Mork companies are beginning to add services for crypto currencies. You had this kind of ongoing story of institutional adoption off the crypto currency. And of course, the last week was really characterized by some specific developments in that area. The first thing, of course, the test my purchase. $1.5 billion. But also there's bean the friends like Bank of New York Mellon with their new team that they're setting up for custody and the administration of digital assets. Plus, you know, in the Consumer Space master card, saying that they're going to allow cardholders to transact in certain kinds of meat. So far this year, Bitcoin up nearly 70% bear in mind. It's only mid February and in February alone prices up close to 40%. Well in the week ahead, we'll be hearing from the red. It's celebrity known as the Roaring kitty. This is the young trader who drove a surge of interest in shares of Gamestop as an example. Well, now U. S lawmakers. Will be investigating the volatility not only in game stop but other shares as well. We have a preview from Bloomberg's Denise Pellegrini..
Maryland Approves Country’s First Tax on Big Tech’s Ad Revenue
"Maryland lawmakers Moving ahead with the first ever attacks in the United States on Internet advertising. Maryland lawmakers voted Friday to override a veto from Republican Governor Larry Hogan of a first in the nation tax on Internet ads for big tech companies like Google or Facebook. Friday's vote in the Maryland said it was 29 17 the minimum needed for 3/5 majority to override Hogan's veto. The House of delegates voted to override the veto earlier in the week. The tax rate would be 2.5% for businesses with gross annual revenue of $100 million and climb incrementally up to a 10% tax for companies with revenue of $15 billion or more. Supporters and opponents agree. A court challenge is
"$ 1.5 billion" Discussed on Heartland Newsfeed Radio Network
"Is six zero. Three two eight three six one six zero again six. Oh three two eight three six one six zero in the studio tonight. It's myself the captain it's an and nobody and we're gonna talk about all sorts of fun things today. I i figured we would mention what seems to be taking over the internet as far as Fans of cryptocurrency. Anyway and that is that tesla has purchased one point five billion dollars worth of bitcoin and plans to accept bitcoin for its products. And this is bitcoin legacy it this says. Btc specifically this is from bitcoin dot com. And that's it says plans to accept. Btc for products. I would have to imagine at some point. He will expand that. But i don't think i would guess for something like a tesla vehicle that you know the amount you're gonna pay for one of those makes things like the fees sort of it know okay. That's reasonable if you're going to spend you know forty thousand on up on a vehicle you know the network feed the transaction fees as high as they get sometimes when bitcoins flying it. What is it today. Forty thousand dollars thirty eight. I think it went up to forty four thousand dollars today. Setting a new record high right. If it came back down is at thirty eight and now it's i think it's back up to around forty three forty five. It's been i think forty three most of the day which of course means that transaction fees are higher. It's gonna you more than network is busier now. Cost you more. But i would imagine buying something. Like a tesla vehicle a little bit of extra fee for that type of purchases. It gonna make much of a difference to somebody in that market. But i mean play things for the rich. Don't hurt but i don't think it was Saotome she's primary concern the publicity listed. I'm sorry the publicly listed from tesla has announced in a securities and exchange commission form ten k filing that the company has purchased one point. Five billion dollars worth of bitcoin. Before we go on with that though you mentioned saito. She's primary concern who saito toshi. And what was his primary concern Saito she is nobody knows who he is except for what he did which was to create the bitcoin crypto currency the final the btc version. Bitcoin seven if you will because it can do seven transactions per second and heard that one. Before i like that. Yeah so. I don't know what would be then like bitcoin. Twenty thousand or something but yes so he develops the original bitcoin he He designed it to bank the banked to give the little guy a chance to play money. People yes yes. Money for the people is is what he designed and now we have both money for the people and btc. That's great we've got two things. wasn't really toshi's vision to create a thing that was only for rich people. He he wanted from what i understand. It takes the power of money out of the hands of governments and banks and put it into the hands of the people. Meaning all people right eating on governments and banks don't like that idea and that may be why a consortium of companies headed by companies like visa and mastercard may have derailed the btc development but have no fear. There's be see age. There's dash there's gyns of other thing literally thousands of other cryptocurrencies. Have i think eight thousand is not the latest count. That's the latest count that i have. I have it on good authority. Your words for it groovy but when the news broke the price of the leading crypto asset jumped well over fifteen percent touching new all-time price high at forty four thousand eight hundred ninety nine per coin while that was as of when was published this morning ten hours ago. What was that Top again almost forty five forty five hundred forty four eight nine nine. Nice so i mean. There's not much more to the story other than this is what happened. And of course it caused a big spike in. Didn't snoop dogg. get behind dose coins. Well the weekend we mentioned it yesterday. We're calling him snoop does all right now did you come up with that Murdered somebody else. I don't know there was three or four. It was sitting here in the last night and one of the one of the guests had mentioned. Hey check it out. And there he actually had a memo a photo a meme of snoop dogg but like his face had been replaced by the dog. and like. Oh it's stoop does okay. So somebody else came up with it. Well i mean. I said you know. Yeah i assume the guy who created the me and was like did i'm gonna make snoop does. Yeah that's cool. I saw somebody lamenting that fact somewhere on on the internet and i am like. Isn't this what we want to happen. Don't don't those of us. Who support crypto currency. Want like you know celebrity types to come on board and start promoting. He's got a couple of people online saying things like man. I don't know i think it's time to get outta btc because you know we're getting celebrities endorsing it now and i'm like why is that bad well. There is a certain amount of logic to that in that you know a lot of celebrities. I don't know which ones i'm not pertinent to that. I'm not privy to that kind of information but a lot of celebrities are being run by the military industrial banking regulatory Media complex which is not a group of people that in general has our best interests at heart They most we have like like all of government they most. We have the the bankers best interest at heart. Right right. i can see questioning. Bts the other thing is you know sometimes when the When the mainstream media sends in their big guns at stu Lead people into a trap. You know pump and dump of some sort. The the other thing is i've had more than three people ping me to ask me man. How do i get a hold of some does And i'm like well. You probably missed the the boat on you know like i mean it's already been pumped if you buy dollars. Now it's you know i mean i could go higher. I guess knows the. I think the pump already happened. Usually they say by the rumor sell the fact so if you hear about something before it happens yeah you by then when it actually.
"$ 1.5 billion" Discussed on KOMO
"Propel insurance money update. Tesla has become the first automaker to accept payment in Bitcoin. Company also says today in an SEC filing is buying $1.5 billion worth of the crypto currency, Tesler says that is looking for more flexibility so it can further diversify and get the most out of their returns on cash. With that endorsement, the price of Bitcoin rose to an all time high. Trading above a record. $43,200 a Rhode Island man is suing Starbucks sued, claiming it deceptively labels one of its drinks Glenn Scallop, Pinsky, filed the class action suit in federal court in Boston Friday, targeting the company for the labeling of its Frappuccino chilled coffee drinks sold in grocery stores. The suit seeks $5 million in damage. It claims the drink doesn't contain real vanilla and Vermont Senator Bernie Sanders is hoping President Biden is wrong about a certain aspect of the latest coronavirus relief bill. You cannot make it in any state in this country on nine of 10 bucks an hour. We've got to raise the minimum wage to 15. Biden said last week. He does not believe the $15 an hour minimum wage proposal will survive certain Senate budget rules being used to pass the bill without Republican votes. Sanders told CNN. Many lawyers are working to convince the Senate parliamentarian that the wage hike will have a big impact on the budget and therefore should be allowed to stay in that measure. Checking Wall Street stocks or higher the Dow up 122 points right now, at 2 31,070 hasn't be 500 up 14 and the NASDAQ is up about 80 coming up next on the comb. Oh, morning news. We'll check traffic and weather. Different.
Dallas-based Southwest pulls threat of furloughs after relief bill signed
"Southwest Airlines has a covert relief package signed this week by President Trump provides the airline enough funding to eliminate the likelihood of pay cuts and furloughs next year. Captain Dennis Tasia, with the Allied Pilots Association says the $15 billion and financial help to passengers airlines is also a boost in morale. This is a major step you can clearly see the shoreline and I'm supporting we're going to get their American Airlines is already recalled more than 1200, A P A pilots who had been furloughed since October.
Congress Passes Covid-19 Relief Bill With Funding for Live Music Venues
"In Congress, a split government putting differences aside long enough to vote through a $900 Billion Cove in 19 Relief Bill A B C's Elizabeth Chelsea in Washington for months of gridlock, Congress has passed a massive spending bill that will Keep the government funded and provide $900 billion in much needed economic relief. The bill is now expected to be signed into law by President Trump. The agreement includes a one time payment of $600 for individuals making up to $75,000 per year. A family of four could receive $2400. It adds $300 in weekly federal unemployment benefits and provides nearly $300 million in aid to small businesses, plus more than eight billion for distributing the vaccine. Treasury Secretary Steven Lucien says direct payments of $600 for most Americans could be in the mail by next week about $15 billion out of their covert 19 bill will go towards live music entertainment venues along with independent movie theaters and other cultural institutions. Earlier this month, the mark is performing Arts center announced that it lost an estimated $7 million since the pandemic began back on December, 4th Governor Tony Evers announced $15 million in state grant funding that would be split up among 96 venues across the state.
Epic Games buys kid-tech firm SuperAwesomegames
"Camera for calls. It costs $249.99 shipping before the holidays new arrows were also announced with Wi-Fi. 6-month art shipping November 2nd and ranging from $129.99 to $229.99. First single router. Finally. There's the ring always home cam small drone
Apple Faces Prolonged $15 Billion Tax Battle as EU Appeals
"To to dealing dealing with with its its tax tax issue issue in in Europe. Europe. A A court court ruling ruling sided sided with with Apple. Apple. But But now now the the European European Union Union is is suing, suing, saying saying mistakes were made in the decision. You says Apple owes more than $15 billion in taxes because of its tax situation in Ireland. The money is an escrow until the Iess Port there decides on the case, New York is
Marijuana sales spike during COVID-19 pandemic
"Making a comeback what's going up the hill from his radio? Yeah. Good morning, Tony. This is this is really an interesting twist here because in the midst of the pandemic where we've seen our economy go onto shaky ground we have We have our unemployment hovering in double digits. Now the marijuana industry has really gone through the roof. Here. We have seen a an increase of 40% over last year so far this year and the sales of cannabis in the country. Medical and recreational expected to be more than $15 billion that number is expected to go over 35 billion by 2024. And is this connected right now to the pandemic, the experts say. Absolutely, it is Tony because anxiety right now is the number two reason that people list for getting a medical marijuana card and medical marijuana is now available in 33 states and the District of Columbia. In some form, like in Kentucky, CBD oil is allowed as part of that. But, ah, anxiety is listed as number two on Lee behind chronic pain, and, of course, anxiety has risen for a number of reasons during this pandemic. Another thing, the experts say, another factor involved his boredom. People are just a shuttered and in many cases have been from time to time during this pandemic, and this was kind of a release there, and also another factor to is that they say. That the extra $600 a week for the unemployed well with extra disposable income. Some of that went to the purchase of U got it Marijuana, So this is really creating a situation where this is booming At a time when many businesses are really struggling, there have been record sales reported. In states like Illinois, Oregon, Colorado all have recreational marijuana, Of course, Michigan expected to top $2 billion in sales over the next couple of years. California's number wanted over $3 billion a year in sales and get this one in Pennsylvania. Tony Patient visits to cannabis dispensaries, up 70% since February. Wow. So are they smoking token or nibbling doing a little of each? It's a little of each of the main and and of course, it varies from state to state on what is allowed for medical marijuana. Like I said in Kentucky, it's CBD oil in others. You might have any, uh, any type of option in other states who might have only edibles allowed or even some type of topical treatments. So it varies from state to state, but still, the most popular overall is the inhaled variety. So let me ask you a question, because what's interesting to me about all of this is that it is still a federal crime possessed by or sell pot. If the if the fans wanted to crack down and they don't have the prison support And or the placing, probably to be able to do this. But if they were to crack down on this particular topic what for that, too? Could it be done? I really don't think it could be done because a lot of states in particular have decriminalized. If they have not legalized it. They have de criminalized. It s so that even possession of marijuana for recreational use will not be prosecuted. If the federal government wanted to try to crack down on your right marijuana is still a schedule one Drug, according to the federal government. The same thing is like heroin would be or cocaine. So if they wanted to crack down, I suppose they could, but they would not get any cooperation from local authorities. That's for sure. Ah, and it's only a matter of time before that changes on the federal level as a CZ evidence continues to mount that that there may be some some riel benefits of of cannabis use for some people who might be suffering from Chronic pain or things like post traumatic stress disorder and a number of other ailments. It is shown to be effective for. Yeah, that's that's a great question. Another one Tony is what do we do about driving under the influence? Since there really is no test for this? You can't do a Breathalyzer. But as the youth becomes more common nationwide. You would think that there's gonna have to be some type of measure taken to confront that
Apple wins case over $15 billion in claimed taxes
"Giant Apple does not have to pay a $15 billion in back taxes. Toe Ireland as they use Executive commission wants Apple analyst Carol Leto says the Trump Administration has been watching the Apple case closely have been very upset by this case and have said Look, this is an attack by Vestergaard but even known against the United States and against US business son against profitable US business So they will say, even on board Tramp mistress will be in favour ladders as the court's decision that Apple does not have to pay the 15 billion in back taxes is revealing that simply shows that said that we cannot go on leaf kind ofthe safe havens tax havens for businesses uncoordinated at the global level, the commission he claimed in 2016 that Apple had an illegal sweetheart tax deal with Irish authorities. Breaking news and analysis