a setback for crypto vols. the sec punts on a bitcoin etf once again, delaying a decision until october. love them or hate them, etf's are here to stay and flows often signal broader market trends. eric balchunas checks it out. and eric, it's very much a picture of derisking? eric: yes. it is. scarlet, thank you. prices are down. it has been a choppy market. a lot of volatility in the last couple of weeks but the flows are really hanging tough for u.s. equities and fixed incomes. two aberrations we are seeing, and a lot of money going into gold. on the other side, a lot of money leaving emerging markets. look at the bloodbath in emerging markets. that is only over one week. over the past couple of months, they have seen a couple of billion dollars come out quickly. what really struck me about this chart is img is on here. these are the cheap ones that retail uses. this is beyond the trading crowd into retail. let's look at img's flows since it came out. just to get an idea of how weird it is that img -- it has

some plan to develop crypto currency as a legal tender for the marshall islands a crypto currency code is offering to raise government revenue and venezuela launched the petro backed by oil as a way to earn money and sanctions. iran and russia are considering the crypto currency at least in part to avoid sanctions. others are considering making digital versions of the existing currencies directly available to individuals. for example, sweden's reliance on private payment processing come these. the policy implications of such initiatives would depend on which countries are involved and how the new currencies are structured. the banks with most are refraining from such initiatives at this time. the third point is that facebook has the potential to be a game changer for the currency. in june they announced the proposal for the new global crypto currency to be used by billions of people. it would be backed by the assets, nominated in the currencies. the association of nonprofits that receive the currency is headquartered in switzerland. many of the details remain uncertain. his made a numb

now risk falling behind as it fails to embrace and adopt crypto. absolutely in many countries will likely follow the stance the united states but you're also seeing a divergence many countries such as. singapore switzerland and even portugal have made positive strides on their trip to regulation most recently portugal's tax authority and now it's no tax on crypto earnings. on falling behind in regards to exchanges you've seen existing exchanges and new and upcoming exchanges such as after taxes derivatives exchange or big dotcoms exchange which is launching with negative trading fees choosing to skirt or leave the u.s. or not enter the u.s. and so this is deafening a problem where many companies are not focused on the u.s. now and it is a big risk for the united states to fall behind and always sticking with finance they are coming out with project venus which is a stable coin project that will be primarily geared toward non western countries it's intended to compete with facebook's liberal with a focus on partnering with governments and companies

yes so the other has had a very strong network throughout the crypto world through all of the exchanges and a lot of the different companies across the ecosystem and so given that and their 1st mover advantage they've been able to hold on to their the and still maintain their dominance but what i think is that this story is yet to be fully written and you know over the course of the next year i think a lot of these problems will continue to unravel and we'll see whether or not there remains and is able to maintain their dominant position. and now thing them today it was just announced as a marriage between switzerland and singapore spanking now has said that they achieve a status as the world's 1st digital asset bank so how are they actually any different from crypto capital which sort of finance or silver gate in san diego which serves . absolutely and so i mean it is interesting to see how this actually plays out and how they're able to serve these different organizations and actually bring in mary. crypto world with the traditional world and be able to increase access to products and

we will discuss the latest in crypto, next. this is bloomberg. ♪ amid global trade tensions and economic slowdown, crypto enthusiasts have pointed at bitcoin as a safe haven. but the cryptocurrency is quickly losing the title. after rallying while u.s. stocks plunged this month, bitcoin lost 15%. volatility continued into this week. cryptocurrency is now 45% below its high in 2017. joining us to discuss, blockchain capital general partners spencer bogart in new york. mike mcglone covers cryptocurrencies. mike, walk us through the ups and downs for bitcoin over the last seven to 10 days. mike: consolidation. i think it is filling in this gauge. pulled4,000, and just back to about 9000. it is basically retracing the bear market from 2018 but it went too far, too fast. the broader market, like the crypto index is only up 60%. it is bitcoin breaking away from the pack. emily: is it a safe haven or is it like any other asset? spencer: longer-term, bitcoin will absolutely be a safe haven. as it grows, bitcoin devolves as it goes. r

the report says north korea targeted banks and crypto—currency exchanges. let's go to our asia business hub where shara njit leyl is following the story. there are so much talk about crypto currency is and what you can hide. here's an example. absolutely, it sounds like something out of a spy film, doesn't it? because essentially as you say it has been revealed by the sleet united nations confidential report i should add, saying that banks were targeted, noted —— backs were targeted, to try and collect cash was not sources confirm to the bbc that the humans actually been investigating some 35 cyber attacks and the reporters were sent to the security council is north korea censures committee says that north korea's attacks against crypto currency exchanges essentially allowed to generate income in ways that are harder to trace and subject to less government oversight and regulation in the traditional banking sector. experts a p pa re ntly traditional banking sector. experts apparently are also investigating cyber mining activity designed to earn foreign

from other crypto assets. -correlation ofe bitcoin from other crypto assets. now bitcoin is developing its own narrative and breaking away from the pack and that will lead to more de-correlation to other assets in the market. all have different use s -- different uses and value propositions and we need to see them move apart from each other. romaine: when we see organizations that have adopted cryptocurrency, they mention bitcoin in some way, it is limited to bitcoin. some derivatives contracts won't be able to be settled using bitcoin, they singled that out, and i'm wondering, do you think that is going to be a difference going forward with regards to which crypto? andy: crypto -- bitcoin is far and away the leader. it is kind of a safe choice. no one gets fired for buying ibm, the classic cliche, and i think we will see the same thing with bitcoin as well. other assets need to find their own use cases and not compete with bitcoin for the exact same problems they are solving. for a while, bitcoin will be the

. >> bitcoin or cryptos. >> i like them, i believe in them. i do lea like it. >> i tell you, cryptos are about as volatile if not more than the equity market, you have to know what you are getting. but, as far as our investors we have always had other thins in portfolio that do different things. as this trade talk heats up and china, and they play with currency, and we have trouble, selling goods over there, that is why you need to own different asset classes like bonds and gold, maybe kris crypto. >> do you encourage people to buy gold coins, there is something wonderful about a personal gold standard. >> that sounds fun, something you would do behind closed doors, but i like if you buy etfs or liquid stocks that is an easier way to buy and sell then gold. if you hold on gold, that is a great idea. but if you look to add to maybe your portfolio, with cash, i would stake to the etfs. >> dang. >> when is gld . >> what about spie about sprd . >> they're scary right now, markets are dealing with this adjustment, to how we're dealing with china, o

crypto is on the list. are you watching "squawk box" on cnbc c ayg plin maker ate this hour, the ceo michael arougheti will tell use how he is puttingok $1 sfroo billi sfroo froo -- $142 billion to work that's next. here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. thinking of this as a way of adjusting policy toçóa somewhat who are accommodative stance to further the three objectives that i mentioned to insure against downside risks to /e"aq!those factors areuo pug down on economicógrowth and e to support?inflation. we are thinking of it as a mid-cycle to policy. >> that was fed chair powell+ yesterday joining usais michf arougheti. he is the co-found

currency using their phone number to secure their crypto accounts so this has been happening a lot and people don't really see their cell phone numbers as something to think about people think about bank accounts credit cards e-mail addresses as things that need to be secure but not so much phone numbers but of course we all use our cell phone numbers now in a 2 step verification process which is what we're told is a super secure way to keep our social media accounts our bank accounts and the like all safe but phone numbers were never really seen as something that would be a secure way of ident of identifying you just think about in the good old days phone numbers used to be publicly available in the phone book so phone companies are really prepared to find ways to make your cell phone number safe how can we make ourselves safe i mean i have a twitter account how can i protect it well to start verification is still the best way the experts say to keep all of your online presence safe but there are ways to keep your phone number that you used to stop verification safe obviously don't ju

>> when you saw zuckerberg getting into crypto, what was your reaction? >> welcome to the party. excited. a company as facebook size is as huge validation for this space. >> jo, this is so interesting. i speak for a lot of viewers out there. okay, help me get my head around what it is. is it a long-term play or is it going to be in my life? >> he does not want to care about it. i guarantee you this is not the last you will hear from the twins that bitcoin billionaire book is going to be turned into a movie. >> we are getting a lot of movie. >> we'll see. >> jo, thank you so much. jo will be back for our sunday mail. >> coming up next, the amazing story of the ship that survived pearl harbor now is finding a peaceful home all these years later. >> it is so much more than that. >> a life well-lived. her family fled the nazis in her family fled the nazis in [upbeat music ♪] you got this. you got this. you got this. you got this. see this sweet feature? don't call it a spoiler, cuz it don't spoil a thing. oh look, you don't need to sell me. at carmax, they buy all the cars. that's

dollar mark carney i'm sol suggested a new crypto currency like a crypto bank or type currency i mentioned labor i believe the facebook currency that's in development as being something that could be emulated so this is interesting for a couple reasons not only is the issuing of a u.s. dollar as world reserve currency but now he's talking about krypto and virtual currencies as a replacement is this one step closer to mark carney going fall bit coin advocate like we've seen joe carnahan say in b.c. and a few others that once they get the pod then they become suppose she's drones as i like to call them as mark carney about to go full full blown bitcoin maximalist i don't have an informed opinion on that i just follow you when the world starts what about bitcoin i just wonder what you think and i know you think we're going 228000 i'm 200000 you know it and we've seen you know this notion of you know put forth that somehow bitcoin could become some type of reserve currency but in terms of market cap i mean it's just a fraction of what even gold is and so i would think that if it growing there

stealing money from banks worldwide and crypto currency around the world. what does this mean for the trump administration and kim jong-un. that story coming up. ♪ that a speaker is just a speaker. ♪ or - that the journey can't be the destination. most people haven't driven a lincoln. discover the lincoln approach to craftsmanship at the lincoln summer invitation. right now, get 0% apr on all 2019 lincoln vehicles plus no payments for up to 90 days. only at your lincoln dealer. plus no payments for up to 90 days. managingaudrey's on it.s? eating right and staying active? on it! audrey thinks she's doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk? maybe not. jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. so it could help save your life from a heart attack or stroke. and it lowers a1c. jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. ketoacidos

i have heard this a lot from the crypto industry in the past decade. we are going to lower underwriting standards and do this on the primer get, and the cdo market -- prime market and the cdo market. this was to provide access to credit, it increased financial increase -- credit, financial inclusion. >> is there any reason to treat crypto currencies and other financial services offered on blockchain, to treat them differently from the products that have existed? i would like to hear your thoughts on treating them differently from what we have been over the years. >> the blockchain is new technology, absolutely. it's amazing and may be we will all be on it soon, and that's fine, but what we are talking about digital assets. it is sort of a red herring to talk about the blockchain technology. we need to talk about what is going on in these markets. whatever we are going to call it, whether an investment, currency, some product of value, it does not matter what technology undergirds it. what matters is the risks presented by this. there is nothing about t

we talk crypto next. this is bloomberg. ♪ matt: welcome back to the european open, almost one hour into the trading day. .6% in frankfurt and a little more in london. equity indexes are doing well across the board. bloomberg has learned that regulators are looking into facebook's libra project. the antitrust probe seeks uncover whether the system will unfairly shut out rivals. let's get more on this with our crypto reporter. obviously, the eu will look at this. what are they worried about? most fearedurope's regulator, the one that has already find google billions -- fined google billions. libra, does the association unfairly shut out rivals and does it give them an unfair competitive advantage? really, this is another layer of scrutiny on top of what we have. really, this is a regulator that has proved willing to take big tech to task. i think facebook will take this very seriously. matt: bitcoin, it seems like people are going into that as a hiding place. but it is still not a currency you can actuall

a year ago bitcoin's market cap was half of all the cryptos. now it's over two-thirds 67%. all the scam coins have died and bitcoin is left standing >> i heard it mentioned to me, i heard it that cryptocurrencies and bitcoin specifically have been a bit of a leader in terms of indicating some signs of stress in the overall market is it fair to say when people anticipate things will get crazy there is this initial push into bitcoin? >> we have seen that it perked up around the hong kong protests and the currency fight that happened out of congress congress and the mainland. bitcoin predicted that uncertainty ahead of time. nothing else was moving. bitcoin was. >> arthere are a lot of folks ot there who say bitcoin used to be almost a $20,000 per token asset. we watched it go down to a 3,000 handle yes, it's back up again. there's something to be said for the scars that happen the last time around. what is it that investors or trade e ners need to know aboutt presents that scathing from happening again? >> will happenagain. it's important to understand with all cryptocurrenci

the report says north korea targeted banks and crypto—currency exchanges. monica miller is in singapore. this is the whole argument about these currencies, like libra, facebook‘s big idea. tell us more. according to this report the north koreans snapped up $2 billion worth of funds that were not their own. sources confirmed the united nations is investigating 35 cyber attacks by the north koreans. information in a lea ked the north koreans. information in a leaked confidential report says pyongyang targeted foreign banks to collect this cash. it allowed them to generate income in ways that is ha rd to to generate income in ways that is hard to trace and subject to less government oversight than other regulations. they also investigated cyber mining activity designed to earn foreign currency. this information comes after north korea launched two missiles on tuesday, the fourth time in less than two weeks. monica, thank you. i know you will be following that story. monica miller in our asia hub. japan's nikkei down again with a stronger yen and fears of a g

crypto space. work andu do a lot of an interesting juncture because it feels like the last several weeks, people become negative. it is not like anywhere near bear markets. characterize the sentiment? before september and before in complacent got territory and now we are trying to get a worry territory. we track one thing that is a little better on the data which is interests shocked correlation, have a trade relative to one another. it is a pretty good window and it is -- it has gotten up, meaning people are trading most of the activity. we would love to see it in the 70% plus area. it suggests people are only looking at macro. when you have it down to 10%, they are only looking at micro. could be a tweet or missile firing. see a littleng to bit more concern creeping in, but i think the key issue is conditions really tightened up last year and that is a nine-month lag impact on spending, unemployment trends and margins. there is this need to trim back numbers for the latter part of this year and i

carney no what they're talking about he's suggesting in all coins this crypto currency for global central bankers but that's not going to work they're going to come to because they're going to come to gold right imagine we'll take a break and come back after us don't go away. told him to get up off the ground the officer began to pet him down. and then freeze on the sounds of kind of biting into a grown man like wrestling essentially the officer who. threw his own. twisted away from the officer holding the toys out of his crib. the obvious or did they kind of lunge for the weapon once missed and then when it happened on tree swung at the officers hands didn't hit him i never saw any contact between the 2 any kind went back to where they were so the officers back here there try again 15 feet apart at this point and that's when the officer pulled out his gun and aimed it on 3. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race on all sides very dramatic development only personally i'm going to resist i don't see how that strategy will be successf

this crypto currency for global central bankers but that's not going to work they're going to come to because they're going to come to gold right imagine we'll take a break and come back after this don't go away. paradise with some ground turned into a round the experimentation field but agricultural chemicals we know that these chemicals have consequences they are major irritants there's no question otherwise why would the chemical company workers themselves be geared up that suited up locals attempt to combat the on regulated experiments that often in day you have many of these people one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of environmental research going on in hawaii whether these companies feel they can get away with this because the people have less political power. things. officer. told him to get up off the ground the officer began to head down the. democrats

this is the business i'm on in berlin welcome facebook's new crypto currency libra is under scrutiny from antitrust regulators according to the financial times the newspaper says the european commission has sought specific information from those of working on the digital currency by a questionnaires on tuesday bloomberg reported about the commission had specific concerns over quote potential anti-competitive behavior related to the association so far facebook and the commission have both declined to comment. our financial correspondent joins us now from new york and so what sort of answers is facebook actually supposed to provide here. well i mean one of the main questions really is in this case at least the possibility of competitive behavior and if you look at facebook they have more users than the combined population of china and the u.s. so so there is this claim there and then also facebook will probably face questions if there are any plans to somehow connect. to some of facebook's services like for example or also the messenger services but this is really only one of many regu

hate and generally has become a byword for distrust well many in policy circles are opposing the new crypto currency because it's also a threat to national economies a facebook currency used by its 2000000000 users could effectively create a new world currency a rival for the dollar maybe a yen or the euro and the loss of sovereignty is a huge concern for the likes of france's finance minister bruno lemaire in an interview with c. and b. c. he said quote we cannot accept a new currency having the exact same kind of power without the same kind of rules without the same kind of commitments and without the same kind of obligations. and even u.s. treasury secretary steve has raised the issue of money laundering and funding of terrorism nations are already struggling to get silicon valley to pay its fair share of taxes too because social add growth slows facebook is now keen to tap into other areas you know revenues from global payments that is remittances electronic transfers all those sorts of things they will exceed 3 trillion dollars every year but the a 2022 according to mckinsey already pe

carney no what they're talking about he's suggesting in all coins this crypto currency for global central bankers but that's not going to work they're going to come to because they're going to come to gold imagine we'll take a break and come back after us don't go what. seems wrong. when i. just don't. i mean the world to get to shape out just to come out to it and enjoy a trip equals betrayal. when so many find themselves worlds apart we choose to look for common ground. welcome back to the kaiser report time now to get a crack m.p. over there to finals are part craig welcome back max great to visit with you again we've done this 3 or 4 times this year now and it just gets more interesting every time because the bull market in gold is back and you've been a keen observer of these markets for many errors and give us great insight to us happening now trump is escalating the trade war with china he's calling jay powell an enemy of the steak seems to have ignited gold to rocket higher what do you expect by the end of 2019 and what about 2020 let's start there 1st of all if people are watchin

ashley: investigation into tokens. >> the crypto token business that he has. it starts on 2-1-18 based on the s.e.c. filings. the company's own filings. it expands later that year, it looks like, in november. the company again this year in may brings it up again. it's still ongoing. interesting, company officials in a coin desk, a crypto publication, it wasn't patrick, it was a company official basically said that the s.e.c. is now requesting even more information including e-mails and documents in the may-june period. so it clearly is an expansion of what they're starting. by the way, we should point out that s.e.c. investigations, they last for a long time. they often don't lead anywhere. not saying anybody's guilty here. ashley: what's going on in the background. >> they launched the token market in august and then as you know, last week, patrick resigns. again, confluence does not mean there's a -- it's directly linked. i'm not going there. i don't know. i can only tell you what patrick told me. ashley: i was going to say, have you spoken to him about it?

you have an emerging act tech sector and crypto. tell us more. anybody can tell you that government isnk challenging. [indiscernible] cryptocurrency, argentines were when the first to embrace cryptocurrency. also a lot of software development is coming into the region. new outsourcing hub for offshore and technology sources. reviewvard business ranked argentina as number one in technology scaled locally. emily: we will continue to follow the situation as it unfolds there. lisa best sermon, thank you so much for joining us -- lisa besserman. spectacle three will allow users to record with two cameras instead of one. $380 a pair. to man it haded to write down almost $40 million in inventory in his earlier versions of glasses in 2017. and ipo this week. we will talk about how much is worth as we wait. this is bloomberg. ♪ emily: this seattle seahawks quarterback bought a stake in the major league soccer team. they acquired the stake on by a hollywood producer, joe ross. ipo could come as early as this week. said in april it has filed paperwork for

hate and generally has become a byword for distrust well many in policy circles are opposing the new crypto card . because it's also a threat to national economies a facebook currency used by its $2000000000.00 users could effectively create a new world currency a rival for the dollar maybe the yen or the euro and the loss of sovereignty is a huge concern for the likes of france's finance minister bruno mel in an interview with c. and b. c. he said quote we cannot accept a new currency having the exact same kind of power without the same kind of rules without the same kind of commitments and without the same kind of obligations. and even u.s. treasury secretary steve has raised the issue of money laundering and funding of terrorism nations are already struggling to get silicon valley to pay its fair share of taxes too because social add growth slows facebook is now keen to tap into other areas you know revenues from global payments that is remittances electronic transfers all those little things they will exceed 3 trillion dollars every year but the a 2022 according to mckinsey already pers

back to life as investors flee stocks with markets in turmoil could this finally be a new dawn for the crypto currency or new moon maybe we're live from times sqre in ua new york city. much more fast money right after this wn ways. somos muy diferentes. muy diferentes. (vo) verizon knows everyone in your family is different. there are so many of us doing so many different things. (vo) that's why verizon lets everyone mix and match different unlimited plans. sebastian's the gamer. sebastian. this is my office. (vo) and now with more plans, everyone gets what they need without paying for things they don't. new plans start at just $35. the plan is so reasonable, they could stay on for the rest of their lives. aww, did you get that on camera? thanks, dad! (vo) the network more people rely on gives you more. so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes here, hello! starts with -hi!mple... how can i help? a data plan for everyone. e

$2000000000.00 for the country's weapons program other reports alleges that north korean hikers stole funds from crypto currency exchanges like bitcoin and have found ways to make it as it bank transfers online. israel's national library has unveiled a trough of unpublished works by the author front in followers and then the legal battle over his literary states the archiving kluge draft text drawings and hundreds of kaffirs personal letters that was famous for his novels in which isolated protagonists find themselves up against income from pencil bureaucratic powers. going to afghanistan where 14 people have been killed and 145 wounded by a suicide bomber in the capital kabul the taliban says it carried out the attack it raises questions about the group's commitment to peace as the gosia missions with the united states and to end its war in afghanistan seem to be reaching a conclusion. it was one of the worst attacks in kabul this year. the car bomb detonated at a checkpoint in front of a police station during the morning rush hour. officials say the majority of the victims were civilians including wo

$2000000000.00 for the country's weapons program the report alleges north korean hackers have stolen funds from crypto currency exchanges like bit coin and have found ways to make illicit bank transfers on loan. officials in kyrgyzstan say a serviceman has died to during an attempt to arrest the country's president special forces stormed the compound of almost back. on wednesday the former leader had his immunity lifted back in june authorities are seeking to prosecute him on corruption charges. pakistan is expelling india's envoy and suspending trade as a result of the indian government's move to revoke the old ptolemy of the part of kashmir that it controls the region remains in lockdown for a 3rd day with security forces on high alert and with many shops close residents say they're running out of fresh food telephone and internet connections have also been cut and indian security forces have imposed a curfew over the weekend. in a heated session of parliament today pakistan's foreign minister shah mahmood qureshi gave a passionate statement take a list. then we are linking our independence stay cel

$2000000000.00 for the country's weapons programs or for ledges north korean hackers have stolen funds from crypto currency exchanges such as bitcoin and have found ways to make illicit bank transfers online. well the united nations has stepped up its emergency appeal for zimbabwe warning that more than 5000000 people that's a 3rd of the country's population are in need of food aid the world food program has appealed for more than $330000000.00 at a meeting in the capital harare the u.n. laid out the scope of the crisis. recently devastated by cycling harvests have also been badly affected by drought and the price of food has risen sharply. for the latest let's bring in our correspondent in zimbabwe privilege was fun harry good day to you privileged can you fill us in on just how bad the problem is and what part of the country is most affected. the situation is quite critical you have a bought 5200000 people will be in need of food aid to the next. funding season and you find that because of what the economy is going through as well a lot of people are being affected it's not only now it has what

., crypto? sarah: i am still a crypto fan. it has actually been interesting. i have been hearing a lot about ocean technology. i have been hearing the shift towards things that are directly or indirectly going to help climate change, it has been one of the biggest shifts over the last year or so. a huge push towards that. i also think there is a lot of innovation everywhere right now, so we are seeing interesting companies come out of every sector. emily: sarah kunst, thank you. we will be following your progress. bloomberg beta is an investor in cleo capital. that does it for this edition of bloomberg technology. we will see you back here tomorrow. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses g

., crypto? sarah: i am still a crypto fan. it has actually been interesting. i have been hearing a lot about ocean technology. i have been hearing the shift towards things that are directly or indirectly going to help climate change, it has been one of the biggest shifts over the last year or so. a huge push towards that. i also think there is a lot of innovation everywhere right now, so we are seeing interesting companies come out of every sector. emily: sarah kunst, thank you. we will be following your progress. bloomberg beta is an investor in cleo capital. that does it for this edition of "bloomberg technology." we will see you back here tomorrow. this is bloomberg. ♪ ♪ >> -- saying there are not circumstances in which i would be willing to. ease i want to see evidence we are going into something that is more of a slowdown. if i am growing at 2%, i am not as worried about that. >> huawei wins a temporary reprieve in the united states, but says the move will not have a substantial impact on its business. manus: loans for chinese companies are

the major american telecommunications company because people lost millions of dollars in crypto currencies using their phone numbers to secure those accounts so it's far beyond twitter's anyone has an online presence and uses their phone number so with that floor in mind then what can we do to protect ourselves well 1st of all to be aware that our phone numbers should be seen as just as important as our bank details our credit card numbers our e-mail addresses things we already think about as as information personal information that needs to be very secure there are of course things we can do experts say basically go hack yourself you should call your phone company and see just how much information about yourself and about your phone number you can get out of the phone company before they ask you for any kind of password or identifying information because that's how these sim swaps work someone else posing. if you calls up says they need the phone number changed to a new sim card if they can do that game over they have your phone number on a sim card that's not yours anymore but of course

it is differentiating itself from the other crypto's light gold is from the other commodities. the environment is positive technically and fundamentally. you see the fundamentals, there are low interest rates. $14 billion in negative healing debt. up, idigital, it is going think we are seeing more institutional, signs of that for futures and manage money and things like that. vonnie referenced what luke kawa said earlier on. he said chinese currency goes through seven, the chinese worry about capital flight, the chinese authorities have closed down vehicles for that currency flight. one that is less is digital currencies like bitcoin. this is being driven by the fear of capital flight in china and bitcoin is the most logical transmission mechanism of that. does that work in your book as well? in hong kong last year right after the typhoon, and i was shocked at the mainland animosity for the banning of crypto. but wes capital control, are doing everything we can to have our financial freedom and bitcoin is one of the main ways to do that. every time i see violence in hong kong,

5608 gold which we have an interesting stat on coming up in the show, and bitcoin, by the way, the crypto currency down 3% which is just 300 bucks back below. we have really seen this inverse relationship between equities and sort of the cryptos if you will whenever there's volatility out there, bad news on the trade front, remember so much buying in bitcoin and it's coming from the asian markets. when they get unsettled they buy into bitcoin but if you bought at the beginning of the year, it is trade that is driving the action this morning as we noted. optimistic comments from china's commerce ministry as the clock ticks until the latest round of tariffs on chinese made goods takes effect at midnight i don't need to remind you, that is this weekend. it is not all just trade wall street also bracing for a stream of central bank policy decisions all around the world there's a lot of them. you have the ecb, the european central bank, they're coming out september 12th they may go off quantitative easing who knows what the ecb will do that's followed by our own fed on september 18th. will the

coming up this morning, american enterprise institute visiting fellow jim harper discusses the use of crypto currencies and the future of money. then the librarian of congress will join us to preview the 2019 book festival. combatting alks illegal robocalls. and on the oversight, federal elections commission. watch c-span's washington journal at 7:00 eastern and join the discussion. >> watch c-span's 2020 campaign coverage of the presidential candidates at the convention. our live coverage is on c-span.org or listen with the free c-span radio app. >> this is an hour and 30 minutes. >> all that stuff i said? >> ok, all that stuff i said, it was off the record. all right. i thinwe

you might know about bitcoin and other crypto currency, it is based on block chain technology that essentially gives you a way for everyone to agree about what transactions run through the system without having any central-bank or central authority that is making those calls. , something like block chain could be part of a more secure solution, having a way to or thecords of votes records of voter registration that anyone can check. the problem is, it is not nearly a complete solution. to continue the example of bitcoin, with bitcoin, we still have problems of theft because people lose their passwords, installattackers malicious software on their computers, or because attackers break into bitcoin exchanges. just like there is still theft despite watching technology and bitcoin -- block chain technology and bitcoin, we still can have problems with election integrity even if we applied watching technology. it might be a step lower, but it is away from the whole solution. host: dominic out of new york, you're next. , your: i live in new york given them your name, they give uniform. what about sho

you might know about that coin another crypto currency. based on block chain technology that essentially gives you a way for everyone to agree on what transactions have gone through the system without having any central-bank or central authority that is making those calls. in voting, something like this could be part of a more secure solution. having a way to post records of votes.io anyone can check, add up or legitimate people. the problem is, it is not nearly a complete solution. to continue continue the example of that coin, we still have problems of theft because people lose their passwords. because attackers install malicious software one their utmputers. or because attackers break into big coin exchanges. just like there is still theft, we still can have problems with voter election integrity. it may be a step forward, but it is the whole solution. >> dominic out of new york. you are next. >> good morning. i live in new york. the person that is getting that paper is really they said they are. a lot of people voting. i would like to

people like that you could have a startup society you could use block chain governance and finance with crypto currency all sorts of innovators come to you with their ideas how they could reconceived society from the ground up the only trick is you can't use the ground. we should be able to colonize the ocean with startup society's way before we go to mars. >> you said you did build one but it was confiscated by a nation that was 13 miles from them. won't that be the case if somebody tried to build 13 miles off the coast of florida? >> 60. i think this was reaction was unique reaction by the thai navy another example i would give up maybe the original seasteading is sealand which is off the coast of england. which went out and declared sovereignty like 60 years ago. >> they remain sovereign in a sense. >> they declare their sovereignty but they are not recognized so england and the european nations tolerate them but they make like 600 thousand dollars a year selling titles of nobility of stamps and passports and they've offered safe haven to my friend who à as seasteading there's a lot of nat

one of the largest companies in crypto space, i believe it's domiciled in singapore, recently added a party committee to the firm suggesting that it may be getting more alignment with the chinese central government >> so at what point, jeremy, would you say bitcoin is acting like a safe haven trade? it sounds almost crazy to say bitcoin is any sort of safe haven, but what we're seeing in terms of, you know, lack of correlation and the correlation war to global turmoil, to that extent it seems like it could be one. >> yeah. i mean, if you step back and you think about it, you know, humanity has now created a non-sovereign, highly secure, you know, mechanism to store value that can exist anywhere that the internet exists it can exist, you know, as we say in a brain wallet. it's unsensorable. unseizable these are powerful attributes that people who are looking at risk assets, looking at fundamental turmoil, it can be a very attractive asset in that context. >> jeremy, the other question you just talked about in china, i know you think there's a move towards making it more allowable. most