Kyle Bass, founder and CIO of Hayman Capital Management, joins CNBC’s ‘Squawk Box’ to weigh in on the collapse of FTX and discuss what it means for the crypto industry. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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27 Comments
"[w]hen you regulate something you almost add legitimacy…" Amen, and remember the moral cowardice of Lummis and Gillibrand.
Been a crypto believer for a long time but losing faith. It’s turned into just a much worse and much less regulated traditional financial market at this point
Bass is obviously an amateur regarding blockchain. Clearly blockchain will evolve and crypto currencies will as well. The path is clear to see central bank digital currencies become real through the next Breton woods. The 4th turning is here. All is see is desperate politicians in all countries trying to hold onto legacy fiat currencies. Bass is not that stupid to think that we are keeping the past economic tools into the 2020’s . USD is the desperate favourite for now. Until countries and people around the world realize they are being leveraged by fear sentiment. “Chaos is Cash” LOL
USD is the biggest scam.
From what I'm hearing that thousands of people are out of their life savings because of this crypto Fiasco. And it's so sad and breaks my heart that I've heard stories of people contemplating suicide over it. Where did all of this money disappear to? Whose hands did it fall into? And why aren't the major Media news agencies covering this story? Everything is Criminal with this Fiasco from top the bottom
I< remember when I just got into crypto back in 2017 but later in 2018 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2021 and looks like we have the same mentality, I admit that seeing a -50% hurts but it's not a realized loss until you sell. Now I buy and just trade and I'm super picky about whom I listen to for crypto analysis..with Samy Signal in a few weeks, I have made over 22BTC with Samy Dominic Signal in few weeks, this is one of the best mediums to backup your assets in case it goes bearish.
The dollar.never robbed anybody.🙄
Hmm..so dude creates his on currency then it turns out worthless? Couldn't see that coming
Yo Dog what’s up 🙋🏻♂️🦍
whichever projects survive this are gonna be pure fire…
This guy is an idiot. You realize what happened to FTX is exactly what happens with the banking system right? If this guy understood crypto and bitcoin he would understand that the main point to it is the ability to self custody. FTX is a centralized exchanged. Self Custody is the important aspect of crypto.
Bitcoin is classified as property not currency. The whole currency moniker is misplaced.
We need more Kyle Bass insight. Stable coins are bogus coins. Makes sense.
I love how the comments are full of scams. LOL Future of Finance.
Kyle Bass will confuse people. He puts Bitcoin or Etherium in the same category as other cryptocurrencies. He does not sufficiently understand what they do or how they work; not enough to speak about them. Many people will hate him for saying this, some years down the road. Mark my words.
At the end of the day…. rich people will fi d a way to get richer and get there via the shortest vehicle possible aka crypto. Where else will there be higher than modest/low gains for the next few market cycles. 🤷🏾♂️ wherever main media trys to steer you….. go the opposite way. Their a lagging indicator
Why stop now feed the dragon $$$ 😂😂😂
Isn't it true that the US Federal Reserve is the only institution to issue US dollars? The so called "stable coins" don't offer any of the privileges that US dollar offers. Merely naming something like a currency and dream to be part of the US dollar circulation is funny.
Been in cryptocurrency since 2017. When I first got in bitcoin had just hit $20,000 and everybody on CNBC was saying it was the best next thing. They were even doing tutorial videos on how to buy Ripple. One year later bitcoin was back down to $5000 and CNBC was calling it a scam and every time they talked about bitcoin it was basically to knock it. They dug out Jamie diamond who was calling it rat poison at the time.Then in 2021 when bitcoin went back up CNBC it was back to loving bitcoin and all of their analyst pumping it. Even old Kramer was buying Now here we are again in 2022 bitcoin is down again and CNBC is back to calling it a scam. The smart money is buying folks CNBC caters to 80 IQ and below that’s who watches TV
Great speech. You sure gained a subscriber. I am 40 years old single mother living in Texas I am hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can't seem to make any other smart investment.
Why don’t they have anybody to counter him all this news outlet wants to do is bad mouth the crypto space they never have anyone to on to counter anyone they have on speaking negatively about crypto nor do they show any new adoption or partnerships with legacy companies and crypto all they focus on is the negatives seems one sided to me
The U.S. government regulatory agencies haven't the resources to halt these unregulated investments while the politicians who direct and fund them are bribed to look the other way.
Why is his office filled with alcohol? LOL. Hammered much?
FTX held ZERO Bitcoin. Please stop including Bitcoin in the mess. Bitcoin has ZERO to do with this. As for the rationale for owning BITCOIN – not a crypto – is because of the debasement of the USD which has been going on since they took it off the gold standard and continued to print it. BITCOIN cannot be duplicated nor increased. It's my money. Not anyone eles's.
The guest basically said, he really doesn’t understand blockchain technology. That’s all I heard.
Invisible "money" (cryptos) are somehow disappearing?
The FTX SCANDAL is linked to the Democratic Party using Ukraine to funnel billions of U.S. taxpayer's dollars to the pockets of politicians and people like George Soros.