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00:00WHILE SOME COMPANIES ARE LAYING PEOPLE OFF, OTHERS ARE MORE OPTIMISTIC ABOUT THE NEAR FUTURE. I ' M GOING TO TALK ABOUT THIS AND MORE WITH HANNAH MILLER. FALCONER ' S RAISING A BIG BROWN TODAY. HOW? > > IT IS AN EXCITING COMPANY VALUED AT $8 BILLION. THIS IS A COMPANY THAT HAS A LOT OF INTERESTING STUFF ABOUT IT. ITS FOUNDER HAS AN IMPRESSIVE BACKGROUND, FORMALLY AT GOOGLE. IS FUNDING ROUND CAME TOGETHER IN THE PAST FEW WEEKS, EVEN AS MARKET CONDITIONS WERE CHANGING. IT IS EXCITING, ESPECIALLY WHEN YOU SEE OTHER COMPANIES LOOKING TO RAISE THAT EVALUATION. EMILY: $20,000 FOR BITCOIN BUT THE CEO OF FINANCE HAS THE WORST PART IS PROBABLY OVER. IS HE RIGHT? > > I THINK HE IS BEING A BIT OPTIMISTIC. THERE ' S STILL A LOT OF FRAGILITY IN THE MARKET. WE COULD SEE TROUBLE FOR OTHER LENDING PLATFORMS. WE HAVE SEEN BABEL HIT. THERE ' S A LOT OF UNCERTAINTY REVOLVING AROUND REGULATION AND SECURITY, HACKS AND SCAMS HAVE BEEN A PROBLEM FOR THE CRYPTO INDUSTRY. EMILY: WE HAVE SEEN LAYOFFS AT COINBASE, LAYOFFS AT ROBIN HOOD. WHEN YOU ARE TALKING TO YOUR SOURCES, HOW BAD IS IT OR HOW BAD DOES IT FEEL ON THE INSIDE OF SOME OF THESE ORGANIZATIONS? HANNAH: I HAVE BEEN TOLD BY MULTIPLE PEOPLE TO EXPECT MORE LAYOFFS. THAT THIS IS GOING TO BE A TREND AFTER A RASH OF OVER HIRING PAST YEAR. PEOPLE BELIEVE THIS CRYPTO WINTER IS GOING TO LAST FOR ANOTHER SIX MONTHS TO A YEAR BUT IT WILL BE SHORTER THAN THE PREVIOUS ONE BECAUSE WE HAVE

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Crypto Report: FalconX Doubles Valuation to $8B

Bloomberg's Hannah Miller joins Emily Chang to talk about Bitcoin trading once again around the $20,000 level and moving in tandem with weakening stocks. Yet, some crypto companies are more optimistic than others about the current crypto winter - like FalconX which just doubled its valuation. (Source: Bloomberg)

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