He will testify on possible links between russia and President Trump associates. Nato has confirmed the assassination of a leading politician and is calling on serbia and kosovo to return to associations in brussels. Negotiations in brussels. A conservative political leader was shot to death by unknown attackers in northern kosovo. The Trump Administration is cutting 65 million in funding from the United Nations relief and work agency, a social service body for palestinian refugees. That is less than half of its expected contribution. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg and Bloomberg Technology is next. Emily im emily chang and this is Bloomberg Technology. Coming up, bitcoins tumble. The cryptocurrency sees its 2015. Ailey declined since will we see more selling in days to come . Plus, we catch up with arianna huffington. What she has to say about current ideal plans and the me too movement. And one of apples is getting slammed for harsh conditions. There hasnt been a a selloff like this in bitcoin in months. The cryptocurrency tumbled as much as 25 in tuesday trading, approaching the 11,000 mark. Less than a month ago, it was trading at almost 10,000. Rival cryptocurrencies are also feeling the pain. To discuss that debate and cover all the news in bitcoin this week, i want to bring in the chief Investment Officer of a for cryptocurrency payments and also our editor at large. What is behind this downward pressure . Same thing as behind the upward pressure, rampant speculation among traders. A couple of academics traced a lot of the rise to just teed up traders, maybe even one, so there was a limited amount of people speculating in this, but when you see that, you start to see a decline in price. Ultimately, it will be not about price changes, but the functionality. Thats when you mention ripple, who signed a big deal with money gram last week. I think it is kind of amazing that ripple in particular is down so much after doing so much in the last week. Emily take a look at this chart. The purple line is ripple, so you see the decline in price and other cryptocurrency is down below. How would you pick this apart . Again, what is another 25 drop amongst friends, i always say . Pretty exciting. Every time there is good news or bad news, the market tends to overreact and now we are seeing an overreaction on the downward side. Theres talk about asian regulators trying to manage and maybe ban some exchanges in korea. I think the regulators do not want to ban it. They just want to regulate it more and make sure it is being done in a legal way, which is good for the industry. Emily what do you think of the impact of asian regulation . Cory to suggest a change in the law, its a cost. The coin catches a fever. The suggestion something might happen and something is hardly being used, bitcoin will be used to move money or to buy goods and services, but generally, that is not what is happening. It is not in rampant use. Same is true of other cryptocurrencies. If theres not much effect in the efficacy of the cryptocurrency itself, but the notion that might be less effective and might not be as global as it would otherwise be, that is a minor concern, but it has a major concern on the trading of these coins. Bitpay seeing a turnaround in transactions . Seen any did in our volume, actually. Emily are you concerned, though . Not really. The market cap has gone up 16 times, but next week, it might be back up again. It coin predominantly goes up and down and is quite volatile. A lot of new retail buyers have come in. For people who have been trading for five years, this happens quite often. We are back to levels we have seen all the way back four weeks ago. Back in early december, we were saying this was a fantastic ride, so we kind of still at the same place. Emily what about these cryptocurrency hedge funds . Im curious what you think about these traders who have devoted their careers to this, but are wondering what to do. There are the and the fundamental ones appeared they are buying and holding a basket of cryptocurrencies. Doesnt matter which one you pick, they all seem to go up and down together. If bitcoin catches a cold, the rest of the industry catches up fever. Emily what is the next bitcoin . Will some of this interest flow to the next one . Some of the ipos are ridiculous. Theres no natura efficacy and things dont exist yet, that theres going to be sales of these coins that dont even exist yet. Some of it is really silly, but there is real money speculating on the value, bitcoin and other currencies as well. I would imagine this selloff some investors were looking at this and thought it was to crazy a few weeks ago might like these prices. Emily where do you see the most interest in these alternative points . There are a lot of icos that shouldnt be raising money, but are. A lot of them are raising through an ipo process, which is pretty exciting. I invested in one with a real Business Model real customer. I am seeing that happen, which i think is pretty exciting, but again, i think bitcoin is the big currency, and the rest will fall under that for a while. Would you put those in priority you can i think going by market cap. Far,in is predominant by and then a theory of, and rest are really trying to establish a use case in global adoption. Speaking of mark cuban, mark cuban announced the Dallas Mavericks well except bitcoin as payment for tickets next year. So, i think some of these individual things we talked to ceo of kodak we tried get him on the air before the. Ower went out at ces you can see what he told me about what they are doing. This is not speculative for him. He says they will be up and running in less than 90 days and they will be putting this to use to solve some problems. I keep saying this when we are on the air the actual fundamental usage of this technology for some companies, for some uses is going to be very exciting. It could change the way things happen and make things possible that were not in the past. The volatility is so sensational, but what story should we be watching over the next few weeks . Regulation . Some of the alternative currencies . I think you can expect some announcements from korean governments soon, that they are not banning cryptocurrencies. I do not think it affects the mainstream market. ,t is more about the use cases and again, if you are a longterm holder, then this is just a small downward trend and back up in at a couple of weeks or a month. Thank you, as always, for joining us and our very own editor at large, cory johnson. Another story we are watching uber will begin limiting the time u. K. Drivers spend on the road to 10 hours a day. This is among how concerns about deke and exhaustion. Uber fatigue and exhaustion. Workers will be prevented from logging into the app during rest periods. Speaking of sleep and uber, coming up, we catch up with uber board member and drive ceo arianna huffington. What she has to say about a potential uber ipo. This is bloomberg. Emily a story we are watching all 49 Democratic Senators have signed onto a measure regarding the gutting of obamaera internet neutrality rules. The protections sparred broadband providers like comcast or verizon from locking or slowing web content to favor their own content. The fcc said other agencies could police corporate behavior. We will speak about their decision to file suit on the show tomorrow. Arianna huffingtons thrive foral Just Launched an app eight two a samsung connect more deeply with yourself and others. We kicked it off with the thrive app and asked why we need a app to set. Boundaries. You would have thought we would not need it, but there has been so much writing over the last few months about how Addictive Technology has become and how deliberate that addiction is, how social Media Companies especially use algorithms, Machine Learning to use likes and social feedback loops to keep us hope. Its like a coach or guide to help us recalibrate our relationships with our phones. So if yourectional, so if youive mode, get a text message, it will let them know that you are in thrive mode, and also it will help change the culture and expectations. Right now, the expectation is that we need to be always on and s immediately. T the second feature is a dashboard that gives you a mirror of your social media consumption. Emily you have a partnership with samsung now, when is it coming to the iphone . What is the strategy for broader use . Ariana it will come in the next six months. We are developing and it will come to the note eight. We have a partnership with samsung for the app and also we launched together a dedicated thrive global called humanity and technology which is all about this Inflection Point in our time. Big issue in a Silicon Valley and beyond about what technology is doing to us. Emily how much responsibility do you think platforms like facebook and Companies Like chple there bear for te addiction, if you will . Arianna if you sell hardware you still have responsibility to have features that can protect, especially children, from abuse. In the attention economy, social Media Companies are deliberately mining more and more of our attention because that is how they increase revenue and profit. It is going to be very important for social Media Companies to put the Public Interest ahead of revenue, which may seem like an impossible task, but we know now that unless they do that, the backlash is going to keep growing. Emily are there other changes you think a company like facebook should be making . Think looking at the impact of constantly pushing notifications. I dont know about you, but i have shut off all notifications except from friends. I dont want to know when photo. Dy likes a i love instagram. I love all social media apps, but i also limit how much alerts, notifications, etc. To disturb my life, my ability to connect with my runs, my colleagues, my ability to do deep work or simply to unplug and recharge. Emily you remain in a major role on the uber board. Now that the softbank deal has been done, where the company be ready for an ipo next year . I think the company is in a really strong position. The softbank deal is incredibly important. Uber will now have on its board thateo of the vision fund led the new funding. What is so important is that softbank is at the center of the ride hailing industry globally, toit is so great for over have softbank now as a major investor. Dara is doing an amazing job. Values have been revamped. Tremendous progress in the last few months. He has hired a new coo, new general counsel. They are in the interviewing process for a new chairman. I think everything is on track. Emily do you think it ipo could happen as early as next year . Said they, dara has ipo will be in 2019 and there is nothing that will happen that will change that. Emily you mentioned a new general counsel. Tony west. How is tony doing so far . Do you think uber will continue these justicey Department Investigations . How long will this sort of cloud be hanging over the company . Arianna i dont think its a cloud hanging over the company. I think it is bringing everything to the surface to be dealt with. At the same time, the company is doing great things. Its not as if these issues of what had happened in the past are dominating everything. The company is growing, ringing in new major investment, bringing in great leadership talent. So, i think what is happening on the legal front is not really necessary to deal with all of these problems, but its not in any way consuming dara. Emily im so glad youre here because im dying to ask you this question. Im sure you have been following the aziz ansari story over the weekend about an encounter that a woman had with him that she describes as Sexual Assault. There has been a lot of backlash to this reporting, the New York Times say he is guilty of not being a mindreader and the Washington Post saying this could derail the me too movement. Talk about what you think the responsibility is of the media here and your take of if this was going to far or if this is a legitimate conversation to be having right now. Arianna the me too movement is incredibly important. It is historic. Timesupby the movement, where we look not just at celebrities but women in lowwage jobs who are often victimized more than anyone else. I think what is very important is to make distinctions between what is Sexual Assault and what is inappropriate behavior and to also listen to both sides. Due process, justice has to prevail because this is a huge culture change and we want everyone to participate in it, and the only way it will happen allowing toly process, allowing people who are accused to tell their story. That is at the heart of any process of justice. Emily do you think that that story should have been published . Would the Huffington Post have published it . Of if itot a question should have been published. The question is of both sides are being heard. It is not about silencing accusers. We should not go back to doing that. It is also about along the accused to tell their side of the story. Emily that was arianna huffington. Ford is warning that profit will all this year as Ceo Jim Hackett spends heavily to catch up with rivals to bring electric vehicles to work it. Wall street had been expecting a drop, but Company Guidance is worse than analysts were anticipating. The automaker kicked off in important auto show this week investing 11 billion to bring 40 electric vehicles to market by 2022. Coming up, your destination for buying online groceries, next. And a few things i want to bring to your attention, your interactive tv function, bloomberg go, you can send our producers a message, play love with the charts we show you on air. This is for bloomberg subscribers only. You can check it out at tv. This is bloomberg. Emily google is launching a new Online Education program that will certify people and Information Technology support. This after the tech giant spent billions on Artificial Intelligence which could render jobs obsolete in several fields. The new program is being developed in conjunction with Online Education firm course era coursera. Instantcart instacart purchased access to the making and tracking of digital coupons as well as voice activated shopping tools. Which will soon be absorbed in the deal serves a dozen grocery chains in canada. Shipping giant mers are forming a new Blockchain Company to track cargo movements. It will also supposedly automate paperwork for shipping across international borders. The venture is set to become available to companies in the second half of this year. Coming up, John Chambers, cisco press chair emeritus gives us insight into his purposedriven strategy, and if you like Bloomberg News, check us out on , the Bloomberg Radio app, and in the u. S. , on sirius xm. This is bloomberg. These are our first word headlines from around the world. Stevew york times says bannon has been subpoenaed by special counsel robert mueller. And willsays been testify before a grand jury in the investigation of possible links between russia and President Trumps associates. President trumps doctor says the 71yearold commanderinchief is fit for duty and should remain so throughout his term. He examined the president last week at trumps requests. Cognitive function screenings were normal and that the president takes cholesterol medication, aspirin, and multivitamin and a hair loss drug. Bitcoin has slumped as much as 25 as a regulatory crackdown appears to spread. Other cryptocurrencies also ium droppingh ether 24 . An online Trading Platform says the crypto boom may be coming to an end. China National Petroleum says it expects brent crude to average 6060 five dollars per barrel that is lower than current levels. They see Global Oil Demand expending less than last year at about 1. 4 Million Barrels per day. I am in singapore, checking the markets missed in asia on wednesday. We are seeing most markets tracking lower apart from new zealand, which is up for a second session. Generally, you are seeing of the rally start to stall in asia following from what we saw on wall street. You have the hang seng index on lunch break, down 161 . No 16 of 1 . Knows the price there. Note price there. This is reportedly a healthy correction. The yen is also tracking lower about 2 10 of 1 . Is mentioning the big fall coming through in bitcoin, pledging by 23 on the tuesday session. That is after a little bit of a comeback. Most analysts we have been speaking to say bitcoin is here to stay. Analysts on Bloomberg Radio today, they said that the story is not going away and you should watch the volatility coming through. There is weakness right across the board. The Health Care Sector is leading the declines. This is Bloomberg Technology, i am emily chang. Former cisco ceo John Chambers has unveiled his new project, a purpose driven firm with april for leo that already has eight portfolio companies. Our editor at large joins us now with the John Chambers. Cory yes i am, John Chambers is a joining us. Jc2 . S it called because its about w