A Crisis of Confidence for Crypto, and Countdown to CPI 11/9/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 9 November 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Binance walking away from its deal to buy FTX’s non-U.S. assets in a stunning fall from grace for crypto’s one-time savior, Sam Bankman-Fried. What it means for the future of the digital currency space. Plus markets dropping ahead of tomorrow’s CPI report. What the numbers might mean for the indexes heading into year-end.s Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Right now and fast, a crypto crisis of confidence, Binance walking away from a deal with FTX,
0:07.2	the coin universe cratering on the news, Bitcoin dropping to a two-year will this be a crash
0:12.4	and burn for San Benchman Creed, who just a few months ago was the darling of the digital
0:16.6	currency world.
0:17.6	Plus, markets sliding the way that the crypto collapse and the hangover for the midterms
0:21.4	will tomorrow's CPI be a third strike for the bulls, hoping for a year in Rally will debate
0:25.8	that.
0:26.8	We may a couple of sorts and major layoffs to come for meta, plus drilling down on what
0:31.0	is next for the energy trade.
0:32.6	I'm Melissa Lee.
0:33.6	This is Fast Money.
0:34.6	We're live with the Nasak Market site on the desk tonight, Karen Feinerman.
0:37.3	Tim Seymour, Steve Grasso and Julie Bill will join us in just moments.
0:40.7	We start off though with the latest developments on FTX.
0:43.4	The crypto exchange has token plunging.
0:46.2	Even more after Binance said it is walking away from its deal to buy the company's non-US
0:50.4	assets.
0:51.4	It's a stunning fall from grace for FTX's founder.
0:54.2	He was just analogous when Sam Bankman Fried was on the cover of Fortune Magazine with
0:58.0	the headline, The Next Warn Buffet.
1:00.9	There was a question mark and there is a caveat because it says, or could he crash in
1:06.0	burn?
	...

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