Gary Gensler

By the way, this data center is operated by a third party.

It's not operated by CME.

So they have a contract for certain performance levels.

And they didn't go to their backup data center, which is, I think, located elsewhere in New Jersey.

If this were to happen at 10 a.m.

on a Monday...

I think the management team would make a different decision and probably would switch over to the backup data center more quickly.

The markets probably would have a little less liquidity.

Not every high frequency trading shop or principal trading firm has the same connectivity to the backup data center.

So that's an interesting business choice.

And for your institutional listeners, if that happened today,

they'd probably see a little less liquidity until they get back to that primary data center.

Right now, unfortunately, there's significant noncompliance, and it's a field which is rife with fraud, abuse, and misconduct.

Right now, unfortunately, there's significant noncompliance, and it's a field which is rife with fraud, abuse, and misconduct.

Right now, unfortunately, there's significant noncompliance, and it's a field which is rife with fraud, abuse, and misconduct.

Gary, we'll start with you. You've called Joe Biden an illegitimate president. What does that mean?

Gary, we'll start with you. You've called Joe Biden an illegitimate president. What does that mean?

Gary, we'll start with you. You've called Joe Biden an illegitimate president. What does that mean?

Bitcoin, wow, through the roof, another huge record.

Bitcoin, wow, through the roof, another huge record.