The Inflation Heat, A Crypto Chill, & Twitter’s $44B Lawsuit 7/13/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 13 July 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Inflation jumped 9.1% to a new 40-year high in June. CNBC’s Steve Liesman, Rick Santelli, and Mike Santoli unpack what today’s Consumer Price Index data means for the Federal Reserve and for consumer wallets. As a crypto winter puts serious pressure on the industry, some crypto lenders are collapsing. BlockFi found a lifeboat in crypto exchange FTX; in a CNBC-exclusive interview, BlockFi CEO Zac Prince explains why he discounted his company 95% to strike a credit and possible acquisition deal with FTX. Plus, Twitter is suing Elon Musk in hopes that he’ll keep his $44 billion word to buy the company, and Tulane law professor Ann Lipton lays out the possible legal moves from here–as well as any tricks Musk might have up his sleeve. In this episode: Zac Prince, @BlockFiZac Ann Lipton, @AnnMLipton Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:04.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:08.0	The dog days of inflation.
0:11.0	Data is hot, hot, hot, what can be done about it?
0:14.4	Overall, you have this unrelenting increase in prices.
0:18.3	Zero-7 on rent up to 1% on food.
0:21.8	There's every reason to think this would make the Fed tougher right here.
0:25.0	Over in crypto world, it's winter.
0:28.0	And one crypto lender has found a lifeboat to survive.
0:31.0	Block Vise CEO Zach Prince on the deal he made to bolster his
0:35.1	balance sheet at a 95% discount on his business. Now the goal of this deal from
0:39.9	Block Vise perspective was to bolster our balance sheets so that we can navigate these
0:44.2	market conditions from a position of strength.
0:46.7	Plus the lawsuit we've been waiting for.
0:49.2	Twitter is taking on Elon Musk so that Elon Musk will take on Twitter.
0:53.6	Tulane Law Professor and Lipton.
0:55.6	Yeah, no, if this are a normal deal.
0:57.6	I mean, that's a thing, it's not a normal deal.
0:59.6	We'd expect a settlement.
1:01.2	It's Wednesday, July 13th, 2022.
1:04.1	Squack Pod begins right now.
1:06.3	Stand under by in three, two, one,
	...

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.