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The Crypto Craze - March 2, 2018

March 2, 2018

Cheddar's Crypto Craze explores the latest movements in this emerging market. Anchors Hope King and Brad Smith talk about the latest crackdown by regulators, plus how one entrepreneur is tapping into the luxury market.

The SEC issued dozens of subpoenas to investigate initial coin offerings. Fortune Senior Writer Jen Wieczner explains what this crackdown means for the cryptocurrency market.

"This is something that is on everyone's mind," says Wieczner. "I think its going to be largely a good thing. People in the ICO space say this is going to give them some clarity."

Wieczner says ultimately this crackdown can weed out bad actors in this emerging market.

A new player in the cryptocurrency space is looking to build an ecosystem around this emerging market. Founder and Managing Partner Ivan Soto-Wright explains how this company is tapping into the luxury market.

"We are thinking how do we actually make a lasting impact on the space," says Soto-Wright. has founded three key products: Moon Assets, Apollo, and Eltcoin.

Moon Assets launched in December 2017 as an e-commerce platform that enables people to buy luxury cars through Bitcoin. "For us it was an experiment and it turned into much more," said Soto-Wright. The platform now brokers Lamborghinis through Bitcoin, with plans to launch new verticals in the future.

Plus, Brad Smith checked out an ATM at the Bitcoin Center in New York City.