more interesting closer to january 6 based on conversations they were having both with trump and with folks who were involved in the planning of that day. and brooks have said afterwards, he s talked to trump and that trump was still talking to him after the 6th about trying to get reinstated which there is no mechanism in the constitution to even do. so we know why the committee wants to talk to these people and we know they ve decided to escalate by going to subpoenas. but it doesn t sound like any of are going to answer the subpoenas. listen to what they told our team on capitol hill yesterday. i have not seen this subpoena. look, my view on committee has not changed. they re not conducting a legitimate investigation. they just want to go after their political opponents. the fact that they sent it to the press before they send it to the members just proves this is all about headlines. this whole thing is just a charade. i think this is a illegitimate committee and th
6:33 out in los angeles. 9:33 here on the east coast. the markets are now open with investors hoping to end the week on a better note after days of volatility. but crypto has been taking a beating with bitcoin losing $200 billion in market value in a single day. and losing more than a trillion dollars, a trillion dollars in the past six months. correspondent gadi schwartz has more. despite high-profile celebrity endorsements, cryptocurrency has been in a sudden free fall. since that matt damon ad aired during the super bowl, bitcoin has lost half its value. this week dropping below 27,000 for the first time in over 16 months. the reason experts say could be traced back to the collapse of a controversial luna and its
we could be in that situation and people knew this was a very risky investment. so when everything, even more stable investments go down, what do people sell, they sell the risky one. timeout. let s do it. i want to ask you a basic question. what are we talking about in terms of real money? investigators in crypto, these bogus names and everything, what are we talking about in actual cash being put out? so there is a lot of real enormous traditional investors who have put money in crypto, but remember, they ve put money in crypto to diversify. that is one things that confused a lot of people. wait a minute, this big investor is in, it must be real. remember it wasn t long ago jamie dimon thumbed his nose at crypto. who wants to be in that crazy market. and over time it got bigger and bigger, well i m going to get in that game a little bit too. so you re going so see a lot of investors that play in cryptocurrency could be losing money here. they re not going to lose their
counterpart tara known as a stable coin because it is supposed to stay pegged to the u.s. dollar. but this week the crypto version sent the value of luna plummeting making it almost worthless. the nosedive sending shock waves across major crypto exchanges. wiping out $200 billion in wealth overnight. one user posting on reddit, i cannot pay the bank and i will lose my home soon. we ve seen more and more patient comes in with problems related to trading cryptocurrency or using software to trade online. as the volatility continues, mental health professionals are seeing more patients crypto trading interfering with their every day lives. they made a lot of these financial decisions by themselves, late at night, on their phones without proper training and without proper support. but some crypt owen thuzists said it is just a chance to buy low. i think this is the moment of
near moscow after a search of her luggage turned up vape cartridges contained oil derived from cannabis. she s facing a maximum penalty of 10 years in prison. we ll stay on that story. and we ll have much more on the war in ukraine later in the hour including the impact on children. we ll talk to the head of a group working to help refugees who are now in romania who was with first lady jill biden during her visit last week. plus a cryptocurrency meltdown. losing $200 billion in a single day. we ll break down that shocking drop and whether it could lead to more regulation. plus a baby formula shortage sparking anger and panic among parents nationwide as the biden administration says it will take action. we ll ask the director of national economic council what the administration can do about it right now in the short-term. morning joe is coming right back. morning joe is coming right back