Kim K’s Crypto Ad with SEC Chair Gensler; Credit Suisse Concerns 10/3/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 3 October 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Kim Kardashian’s Instagram ad post about the EthereumMax token has cost her $1.26 million. SEC Chair Gary Gensler discusses the celebrity’s settlement with the regulator and explains why her post–and others from DJ Khalid and Steven Seagal–raised a flag that other celebrity ads do not. Concerns about whether Credit Suisse is on the brink of a “Lehman moment” have rocked the global banking industry. Andrew reports on the Swiss bank’s financial health and the fallout it could have on the rest of the financial ecosystem. Plus, Hurricane Ian has claimed dozens of lives, and as one of the biggest storms to ever hit the U.S., its path is costing residents and insurers millions, from South Carolina down to Florida. Property and casualty insurance analyst from KBW Meyer Shields discusses the widespread damage, and offers tips for maintaining water supply and building safety for those returning home for the recovery. In this episode: Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:02.6	Hi, I'm C. Mee producer Cameron Costa.
0:07.1	Today on Squawkpad, wake up.
0:10.0	September has ended and it wasn't the prettiest.
0:13.8	Terrible, horrible, no good, very bad month.
0:16.8	Of September.
0:17.8	Plus is Credit Swiss on the brink of a Lehman moment.
0:21.7	The banking concerns rippling across the entire globe.
0:25.4	Saturday morning I got a phone call from somebody who said are you following
0:29.1	you paying attention to this? Do you remember 2008? And Kim Kardashian, how her $250,000 posed ended up costing her $1.3 million.
0:41.0	SEC Chair Gary Gensler.
0:44.0	This is about an influencer, a high profile celebrity on their Instagram site putting out
0:51.0	a tout for this token, Ethereum Max, which is a security.
0:56.0	The U.S. regulator putting all celebs on watch.
0:59.5	If somebody is touting a crypto security token.
1:03.0	Are they getting paid and how much are they getting paid?
1:05.0	And we brought a case against Floyd Mayweather,
1:08.0	against D.J. Alid, Steve Se Segal, an actor.
1:13.0	Those stories, a Hurricane Ian recap, and the Global Oil Markets,
1:18.0	all on today's podcast.
1:20.0	It's Monday, October 3rd, 2022, and Squawk Pod begins right now.
1:25.0	Stand Becky by in three, two, one, fuel brief.
	...

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