Inflation jumped 9.1% to a new 40-year high in June. CNBC’s Steve Liesman, Rick Santelli, and Mike Santoli unpack what today’s Consumer Price Index data means for the Federal Reserve and for consumer wallets. As a crypto winter puts serious pressure on the industry, some crypto lenders are collapsing. BlockFi found a lifeboat in crypto exchange FTX; in a CNBC-exclusive interview, BlockFi CEO Zac Prince explains why he discounted his company 95% to strike a credit and possible acquisition deal with FTX. Plus, Twitter is suing Elon Musk in hopes that he’ll keep his $44 billion word to buy the company, and Tulane law professor Ann Lipton lays out the possible legal moves from here–as well as any tricks Musk might have up his sleeve. In this episode: Zac Prince, @BlockFiZac Ann Lipton, @AnnMLipton Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie