Crypto Contagion with Binance CEO CZ 12/15/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 15 December 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In its latest effort to fight inflation, the Federal Reserve has raised interest rates half a point to the highest level in 15 years, but CNBC’s Steve Liesman explains why the markets have reacted poorly. As Wall Street and Washington digest the Capitol Hill hearings on the FTX collapse, the CEO of rival crypto exchange Binance assures investors, “We are financially strong.” Changpeng Zhao “CZ” addresses concerns that his platform is also at risk of liquidity issues, discussing crypto contagion and his own role in the FTX drama. Plus, cheers to the holiday season! Joe Kernen, Becky Quick, and Andrew Ross Sorkin are excited for their shopping–and their festive beverages. In this episode: CZ, @cz_binance Steve Liesman @Steveliesman Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squack Pot.
0:08.0	I'm so interested in this and I can't believe not everyone is.
0:12.0	The highest interest rate in 15
0:14.8	years thanks to the Federal Reserve but the markets don't like it. The market
0:18.9	going to listen to what Jay Powell was saying that higher rates are coming.
0:23.6	Another thing the markets don't like,
0:25.4	crypto's hot alphabet soup mess.
0:28.0	FTX fallout, SBF's arrest, and the biggest blockchain mystery,
0:32.3	where are those crypto billions?
0:34.0	We'll talk to Binance CEO Shanghai Zow.
0:37.0	Very simply, Binance does not owe people money.
0:40.0	That's very, very different from the FTX situation.
0:42.0	Just because they're
0:43.0	bitten by one snake doesn't mean that every other animal is the same.
0:46.0	That's what got us squawking today. Well, mostly.
0:50.0	There are people out there not watching us that are watching like some other shows that are
0:53.9	talking about hot Christmas items yeah hot Christmas items I want to know hot Christmas
0:58.4	items that might be one of the problems it's, December 15th, 2022, Squack Pod begins right now.
1:07.0	Stand Becky by in three, two, one, queue please.
1:12.0	Good morning everybody and welcome to Squawk Box here on
1:14.4	c. We're live from the NASDAQ market site in Times Square. I'm Becky
	...

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