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Squawk Pod

Elon Musk and Twitter Taking a Break? Coinbase CFO: “We’ve navigated through crypto cycles” 5/13/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 13 May 2022

⏱️ 36 minutes

🧾️ Download transcript

Summary

Elon Musk announced today that his Twitter deal is on hold “temporarily” until he receives more information about how many fake accounts exist on the social media platform. In a follow-up tweet a few hours later, Musk added that he was “still committed to the acquisition.” Wedbush’s Dan Ives discusses the implications of the tweet and the future of the deal. Coinbase shares hit a new 52-week low on Thursday after reporting revenue that fell 27% from a year ago. Coinbase CFO Alesia Haas addressed these concerns with Andrew Ross Sorkin in a wide ranging interview – Squawk Pod is where you’ll hear their full conversation. They discussed the bankruptcy disclosure the company released this week and a major outage yesterday that kept users unable to trade during the worst of the market sell-off. Plus, check out the podcast Monday for an exclusive interview with Former Fed Chair Ben Bernanke! He shares his perspective on the Fed’s latest rate hike, inflation, crypto & more. In this episode: Alesia Haas, @coinbase Dan Ives, @DivesTech Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Zach Vallese, @zachvallese

Transcript

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0:00.0

Bring in show music please.

0:03.0

This is Squawk Pod.

0:06.0

I'm C. NBC producer Zach Valisei.

0:09.0

Today on our podcast.

0:11.0

Mr. Musk saying no, Musk.

0:14.0

Elon's early morning tweak that the Twitter deal may be off?

0:18.0

Temporarily.

0:19.0

The hell does that mean?

0:20.0

It means he hasn't figured out if he can get out of the billion dollar breakup fee.

0:23.6

The world's richest man and social media.

0:26.3

The soap opera continues.

0:28.2

Tech analyst Dan Ives joins us.

0:30.6

Well, to come out in a tweet, I mean, it sends this whole thing into a circus show.

0:35.5

And Coinbase CFO, Alicia Haas, says customer accounts on the crypto trading platform are secure,

0:42.3

and navigating through rough patches is possible.

0:45.0

I think a lot of people are waiting to see where bottom is and this is a broader macroeconomic risk off market and we'll start

0:52.1

to see money flow back in crypto when people feel we've kind of settled out and have more predictability on the future.

0:57.4

It's Friday the 13th.

0:59.4

Ant-tan-tan. Squak pod begins right now.

1:03.0

Stand Becky by in three, two, one, fuel break.

1:07.0

Good morning everybody.

1:09.0

Welcome to Squackbox here on C.

...

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