Fundstrat’s Tom Lee Forecasts an “Everything Rally,” Binance CEO on the World of Crypto & Apple’s Latest Announcement Faces Backlash

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 9 August 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors kick off today’s show with CNBC’s Ylan Mui on the latest crypto update from the infrastructure bill. Then, Fundstrat’s Tom Lee is here to talk markets, Bitcoin and his prediction for an “everything rally” into the end of the year. We also have Binance CEO ChangPeng Zhao to discuss the trading platform and crypto regulation as digital currencies take center stage this year. Plus, we cover the latest Tesla street calls with Jefferies predicting 22 percent upside in the stock. Later, 75 and Sunny Co-Founder Spencer Rascoff is here to share his thoughts on social media M&A and vertical social media platforms. Also, Johns Hopkins Cryptography Professor Matthew Green joins to share his reaction towards Apple’s announcement that it will scan devices for child abuse imagery. Plus, CNBC’s Dom Chu joins to cover the latest moves in Cathie Wood’s Ark Funds.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Welcome to Tech Check. I'm Carl Kintania with John Ford and Dear Drubosa.
0:30.0	Today, Bitcoin gets a boost hitting its highest level since about mid-May. Stocks like Riot, Coinbase, and Micro Strategy, all following suit.
0:38.3	We're going to talk to Bitcoin Bull Tom Lee in just a moment. As does the CEO of Binance,
0:43.4	as Washington wakes up to crypto's growing influence. And that's where our feed begins this
0:48.0	morning and what has become the sticking point in that trillion-dollar infrastructure bill.
0:52.6	Elon Moos is with us to explain.
0:54.5	Hi, Elon.
0:57.2	Good morning, Carl.
1:01.7	Well, the industry is pushing for explicit carve-vows to new IRS reporting requirements,
1:07.5	and there's intense debate over whether the current language in the bill applies to minors and software developers,
1:11.6	and that's stoking outrage among some of FinTech's biggest CEOs.
1:13.9	Coinbase's Brian Armstrong tweeted, quote,
1:19.4	History will not be kind to any politician who tries to block Americans' access to new technologies.
1:24.8	Americans have a very low tolerance for taking away our rights and harming economic growth.
1:28.3	Twitter CEO Jack Dorsey wrote, this bill has so many issues,
1:30.9	and he said one of the amendments from Senator Mark Warner only makes it worse.
1:32.8	Meanwhile, Elon Musk got involved too.
1:35.5	He said, this is not the time to pick technology winners
1:38.2	or losers in cryptocurrency technology.
1:40.8	There is no crisis that compels hasty legislation.
1:44.1	GOP Senator Rob Portman, who helped write this bill, said he gets it.
1:50.3	In particular, we want to be sure miners and stakers and others now or in the future
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.