I'm John Fort. You're listening to CNVC's TechChack. Our show is live weekdays at 11 a.m. Eastern. Listen in. Happy Wednesday morning. Welcome to Tech Check. I'm John Fort with Carl Kintanilla and Deirdrebosa. Today, crypto crashes. Bitcoin's lost a third of its value in a week. Briefly touches 30,000. We will tell you what's behind today's dive. Then some big developments out of Google's development conference, Google I.O., the head of the company's payments division, joins us this hour. And, of course, we are all over. Today's overall sell-off in tech. Barclay's chairman of global internet banking is with us in just a moment. John, as you can see, stocks getting pinched today.

NASDAQ's down for a third straight day.

Session low, NASDAQ was down one-seven, as you can see, currently down less than 1%. Dow S&P set to post their biggest drop since January.

Triple Q's down a percent.

Interestingly, Deirdre, energy and materials, Pasani was just saying the biggest laggards this morning,

chips again deep in the red. That reopening trade is a victim today.

It is. And Carl, we got to start, though, with this crypto crash, Bitcoin off its lows,

but still down around 20% is China Bands Financial and payment institutions from providing

cryptocurrency services.

Other names like Ether, Lightcoin and Dogecoin, also plunging at one point this morning,

get this, the total crypto market cap was down over a trillion dollars from its highs.

This crypto selloff also sending shares of Coinbase lower now well below its opening day price of 381 a share from last month.

The crypto exchange company, even going down for some users this morning.

Carl and John, the Bulls will point out that Bitcoin is still up about 20% this year.

It's more than tripled over the last year.

But this is about as volatile as we've

seen it in a long time. And a lot has changed. It's much more integrated with financial markets,

different asset classes. So Carl, the real question here is, does this send ripples across other

asset classes? It's true. There's a big question right now in the markets, John,

as to whether or not this can be limited to, as one person said, the selling of these digital

pet rocks or if it moves across asset classes. But clearly people are starting to assemble

the bear cases, which involves ESG concerns, Elon Musk's about face, the Chinese cracking

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