35 Burst results for "$1.5 Million"
The Breakdown
A highlight from Huobi Changes Name to HTX and Almost Immediately Gets Hacked
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Tuesday, September 22nd, and today we are talking hacks, hacks, hacks. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Well, friends, today we start this show talking about Ben Armstrong, better known as BitBoy, who was arrested last night after he won, posted to his YouTube that he was going to confront a former business partner about the Lamborghini that he said was his, two, went to said person's door and rang the doorbell, three, did this with a gun and illegal narcotics in the back of his car, along with another business and affair partner to boot, and then four live streamed himself getting arrested. Just kidding. I'm not going to talk about that ever at all. In fact, I will only say this. The crypto space gets exactly the level of influencers it deserves. So perhaps as we think about where we want to be heading into the next bull market, we might want to choose who we listen to with just a hint more discernment. Now, what we're actually going to be talking about today is the plague of this bear market. Well, outside of Gensler, of course, and that is hacks. A wave of hacks impacted crypto firms starting over the weekend. On Friday, Nansen disclosed a security breach at a third party software vendor. The attacker was able to gain access to admin rights of a Nansen account in charge of facilitating client access to the platform. Nansen claims it, quote, managed to stop the unauthorized access shortly after learning about it and launched an immediate investigation. According to Nansen, wallet funds were unaffected. All affected users had email addresses exposed, while smaller user cohorts had password hashes accessed and wallet addresses revealed. Nansen urged all users to double check emails claiming to be coming from the company and be vigilant for phishing attempts. So that was Friday. Then on Saturday, OpenSea disclosed that one of its third party vendors, quote, experienced a security incident that may have exposed information. They warned that user API keys were compromised. The company noted that the incident was not expected to impact any programs which use an OpenSea API key, but that external parties using exposed keys could experience rate and usage limits. OpenSea plans on shutting down existing keys by next Monday and asked users to rotate their keys. A third exploit was disclosed early on Monday morning. Mixin Network, which is a nominally decentralized wallet service, said it lost $200 million in customer assets during an attack early on Saturday morning. Crypto developer Lawrence Day at Function Zero writes, Also, respectfully, how are you losing $200 million from a cloud breach? So this company Mixin was founded in 2017 and had nearly $400 million in protocol funds across 48 chains. The service allows users to send digital assets assigned to phone numbers and its biggest market appears to be Hong Kong. Now the firm said that it can guarantee the safety of around half of user assets, but that guarantee seems to be in the form of a corporate backstop rather than the product of successful threat mitigation. During a livestream on Monday addressing the attack, Mixin founder Feng Xiaodong said, No matter what your assets are, whether it's Bitcoin or Ethereum, we will ensure that half of it is unaffected. We're trying to find a way to recover the compromised money, but that is very difficult. For the other half of the assets, Mixin is considering offering what they are calling bond tokens for users to claim. The firm would later buy back the tokens, making them similar to other token -based recovery schemes seen in the past during events like the Bitfinex hack. A security firm called Slowmist is involved in the investigation and stated that the incident occurred when a cloud service provider database was attacked. Now if this feels like just the latest in a string of big hacks, that's because it is. In 2022, we had the record of $3 .1 billion in funds lost from hacks. And estimates this year include TRMLab saying that $400 million was stolen in Q1, Immunify saying that $700 million was lost in the first half of the year, and then just in Q3 we've had a 126 multi -chain hack in July, a $61 .7 million market -based protocol exploit of Curve Finance in July, $41 .3 million hacked from Stake .com in September, and another July hack of $37 million at CoinsPaid. So from estimates, it looks like this might be the largest hack of the year, roughly the same size as Euler in March. Still, even though it wasn't the biggest, the most high -profile hack of the weekend was disclosed on Monday as well, and that was from HTX. HTX, formerly known as Huobi, suffered the loss of 5 ,000 ETH worth around $8 million on Sunday evening. Justin Sun claimed in a Twitter thread that, quote, HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues. Sun added that, quote, all user assets are SAFU and the platform is operating completely normally. Now, in addition to disclosing the loss, Sun downplayed the impact of the attack, stating that, quote, $8 million represents a relatively small sum in comparison to the $3 billion worth of assets held by our users. It also amounts to just two weeks of revenue for the HTX platform. Sun disclosed the wallet address of the hacker and added, We are willing to offer 5 % of the stolen amount, $400 ,000 USD, as a white hat reward to encourage the hacker to return the stolen funds. If the hacker returns the funds, we will also hire them as a security white hat advisor for HTX. However, they said, if the funds are not returned within seven days, we will transfer the information to law enforcement authorities for further action and to prosecute the hacker. In an on -chain message to the hacker, HTX claimed to have discovered their, quote, true identity. Now, according to Arkham Analytics, the attack affected an HTX hot wallet, which was created in March. Since then, the wallet has received $500 million in deposits from Binance, and on -chain analysts confirmed that funds have now been migrated to a new wallet. Now, there were a lot of comments relating to the name change of this exchange. Crypto Kaleo writes, Huobi changes its name to HTX and gets hacked for $8 million in the first month? Coincidence or tempting fate? Lawrence Day again said, I'm sorry, but renaming Huobi to HTX and then immediately losing millions of dollars is so effing funny that I might have a stroke. Even Binance's CZ said, A week after you rename your exchange after FTX... Jokes aside, our security team will help in tracking hacker funds in all cases where we can. Now, in addition to just the jokes about the HTX name, there are lots of questions floating around about Huobi solvency. To get a sense of some of those theories, go check out Adam Cochran's account. It's a little bit out of the scope of this particular episode, but it's obviously something that we're watching closely. Now it's unclear at this stage whether these attacks had any sort of links, but the small amount of detail available does show some common features. The first three hacks all blamed a third party service provider. While the provider was not named, Nansen did urge them to disclose the security breach. These attacks come just weeks after crypto custody firm Fortress Trust suffered a $15 million attack, which was also related to a security failure at a third party cloud provider called Retool. In that attack, an employee at the software provider was the victim of a phishing attack. The attacker used an AI -synthesized voice clone of an IT support worker to replicate the employee's credentials to access Retool's systems. In their write -up of that attack, Retool said that 27 customer accounts were compromised. All 27 were crypto companies. So the method of attack here, which uses a combination of social engineering and a bypassing of security measures, also bears a striking resemblance to the write -ups of the recent cyber attack on MGM and Caesars casinos. The casino's systems were hacked two weeks ago with customer and corporate data compromised. Postmortems of the attack claimed that hackers used a voice replication of IT workers to gain access. Identity management firm Okta confirmed that the casinos had been using their systems to credential employees. In an August blog post, Okta said that their customers were seeing, quote, consistent pattern of social engineering attacks against their IT service desk personnel, in which the caller's strategy was to convince service desk personnel to reset all multi -factor authentication factors enrolled by highly privileged users. The casino attacks were attributed to a threat actor known as Scattered Spider using malicious software developed by Alfie or Black Cat. Now if these attacks are all part of the same cybercrime spree, it could speak to a group of hackers going after high -value targets like crypto firms. The vulnerability seems hard to address as it involves security training for employees at third -party software providers. And one of the implications is, if these kind of attacks become a systemic threat to the industry, it could mean more crypto firms need to bring sensitive software in -house. That higher barrier to secure operations could make it more difficult for smaller startups to compete in the industry. Now of course for any of you who are listening to the AI breakdown, you'll also recognize that this is not going to be a problem that's unique to the crypto industry. The casino attacks speak to that as well, but the reality is that voice cloning technology is incredibly advanced and just getting more so all the time. Individuals and companies are going to need to develop entirely different modes of operation that recognize the fact that you simply can't trust a voice on the other line of a call anymore. Now when it comes to the impact of these hacks on the industry outside of just the ramifications for the people who lost money themselves, it's hard exactly to know what the real impact is. On the one hand, it certainly lends to a perception of immaturity overall, but at the same time, when it comes to the geopolitics and regulation of crypto, the hacks that are most important to keep an eye on are those that have some sort of geostrategic ramifications, particularly those emanating from the Lazarus Group in North Korea. Still, being this deep into a bear market and trying to match all -time records for hacks is not necessarily the place we want to be overall. The one other story that I wanted to cover on today's show is a bit of a dust -up around the Celsius restructuring. In short, the Celsius bankruptcy could be coming to a close after creditors have voted in favor of the current recovery plan. 98 % of creditors gave the thumbs up to a plan which would see the sale of assets to crypto consortium Fahrenheit Holdings. The acquiring group includes Errington Capital and miner US Bitcoin Corp. Fahrenheit plans to retain and operate mining equipment owned by Celsius under a new corporate structure. The new company also plans to stake Ethereum and monetize other Celsius assets. Some large creditors will receive equity in this new company. And in addition, another $2 billion in liquid crypto will be distributed to creditors. Overall, the plan is projected to provide a 76 -85 % recovery. Now one remaining snag in the plan is an objection from the SEC. The regulator filed its objection last Friday to express concerns with Coinbase's involvement in the process. Celsius receivers plan to use Coinbase as an intermediary to distribute crypto to creditors. The SEC claimed the agreement could require Coinbase to The SEC filing claimed that However, this court should not be asked to approve a deal where their material terms are missing or inconsistent. The regulator also appears concerned about an additional agreement with Coinbase, which Celsius have attempted to file under seal and have not yet disclosed. Coinbase's Chief Legal Officer Paul Grewal hit back at the SEC's objection in a Twitter post stating, Now, Wayne Vaughn had a very simple explanation, saying, And of course, this isn't the first time we've seen the SEC stand in the way of a bankruptcy distribution agreed to by creditors. In March, the SEC objected to Voyager using Binance US to distribute crypto to its creditors, which was of course months before the regulator had filed its lawsuit against Binance but still based their objections on claims that the exchange was an unregistered securities brokerage. A very unimpressed judge in the Voyager case called it This time around, of course, the SEC at least does have an ongoing lawsuit that they can point to regarding Coinbase's brokerage services, but the objection does still seem odd given that the regulator didn't seek an injunction to prevent Coinbase from operating as normal in the interim. The Celsius case will return to court next Thursday to hear the SEC's argument and see if the judge is inclined to allow the plan to go ahead. Now one interesting line of discussion are the implications for the spot ETF applications that are outstanding. Adam Cochrane writes, Now, speaking of ETFs, Bitwise filed an amendment to its spot Bitcoin ETF application on Monday, adding 40 pages of research on Bitcoin market structure. The research aimed to preempt arguments from the SEC, which could be used to reject the current batch of ETF applications. Bitwise claimed to show that Bitcoin futures are the primary market for price discovery with spot prices following futures. According to Bitwise, this would mean that the well -regulated CME futures market should be the primary consideration when looking for evidence of market manipulation. They argued that this trading venue should count as a regulated market of significant size for market surveillance purposes. As part of their argument, Bitwise also cited a previous study from 2019, which suggested that Bitcoin's spot market mainly consisted of fake volume, making the relative size of the regulated futures market much larger in comparison. Regarding the price impact of futures, Bitwise found in 2021 that futures markets accounted for between 52 .97 % and 68 .03 % of Bitcoin's price discovery. Now this isn't the first time Bitwise have dropped large amounts of Bitcoin research on the SEC to dispute their claims. They have produced at least two 100 -page -plus reports in support of previous Bitcoin ETF applications. Bitwise Chief Investment Officer Matt Hogan explained his firm's strategy in a Twitter thread stating, That's the happy case. The question is, what happens if the SEC appeals the court decision? In short, we return to the status quo. We're back to needing to prove that the CME Bitcoin futures market leads price discovery over the spot market such that it can serve as a regulated market of significant size for the purpose of surveillance. Unfortunately, existing filings do not include substantively new arguments or research addressing this question head on. Until now, today's amendment aims to address point by point each of the major objections the SEC has raised in prior disapprovals for spot Bitcoin ETFs. In particular, we try to clear up the significant confusion around the growing body of academic literature on price discovery in the Bitcoin market and demonstrate that every well -designed academic study supports the finding that the CME is significant. So friends, there you have it, a little bit of hacks, a little bit of the SEC objecting to something that seems reasonable from the outside. In other words, a quintessential 2023 crypto day. Appreciate you guys listening, as always. And until next time. Peace.
Real Estate Coaching Radio
A highlight from 10 Fun Facts About Realtors (#7 Will SHOCK You!)
"Welcome to Real Estate Coaching Radio, starring award -winning real estate coaches and number one international bestselling authors, Tim and Julie Harris. This is the number one daily radio show for realtors looking for a no BS, authentic, real time coaching experience. What's really working in today's market, how to generate more leads, make more money, and have more time for what you love in your life. And now your hosts, Tim and Julie Harris. We are back. We've got a fun show for you today. We are talking about the National Association of Realtors member profile. Julie and I picked out what we feel are the 10 most interesting points from the member profile and I think point number seven, maybe even point number eight will really surprise you. So Julie, we have a lot to go through. Let's just jump right in. Yes, this is about all of you listening and the agents that you deal with day to day. I think I had a few little mini surprises, but let's go through these relatively quickly. First of all, the typical realtor had 11 years of experience. That's actually up from eight from last year. I think that that's probably surprising to some of you because you know, there are a lot of new licensees and some of you deal with each other all the time, but 11 years of experience is the average. Now we're going to just remember as we go through these points, Julie and I are going to do our best to sort of decipher, I think in a lot of ways, some of this information because when it gets to, for example, they're going to, we're going to talk about average income for the average agent and all the rest of it, but they don't think it's confusing to be honest with you. I can't really understand and maybe somebody who is more knowledgeable about this stuff can put in comments, Nara will often say things like the family income or the household income of the average agent, but I'm not so sure. I mean, does that mean like for example, there's a guy and his wife is a brain surgeon and she makes like $14 million a year and he makes like $4 a year selling real estate, you know, and so obviously that's going to affect the average agent's income. Again, I'm not sure I'm reading the question correctly, but let's just get right to it. Yes, that's right. We'll translate as best we can with the information we've got. So next is interesting because with the market shift, a lot of people like to say, oh, everybody's going to get out of the business and yet 76 % of realtors were very certain that they will remain active as a real estate professional for at least the next two years. Now, Julie and I predicted that when the COVID hit and all the rest of it, that there would be no major drop off in the number of members of a national association of realtors. And those of you who've been attached to us for a long period of time, you will remember us telling you why, and I'll for the rest of you tell you why now, because in previous, you know, fortunately there wasn't a slowdown following COVID, but in previous slowdowns or recessions or all kinds of other things like that in the economy, there hasn't been a decrease in the number of agents, but an increase. And so Julie and I went back as far as we could find from national association of realtors looking at the number of members, and it was very clear that what we theorized was correct just simply by looking at the numbers of agents joining during economic slowdowns. So why do people get real estate licenses during slowdowns? Side hustle. That's true. They need to make more money. Or maybe, you know, if you go back to the sixties and seventies, there were a lot of ladies that were looking to get into real estate that maybe hadn't had out of the home employment before and things of that nature, retired people, but really the real reason why Julie and I knew there wasn't going to be a precipitous drop in the number of, you know, members of the national association of realtors was demographics and demographics ultimately is going to run the show for the real estate industry for the rest of our lives and beyond. The number of humans in the United States that want and need to buy or sell real estate is only increasing. And it didn't make sense to us that, uh, just because there would have been hypothetically because of COVID some kind of slowdown, which as all of you know, there was not quite the opposite actually. Exactly. And just a flash forward to today, we now see that again, Julie and I's theory was correct and you notice all the other naysayers that were, uh, predicting doom and gloom about the number of agents dropping dead, like, you know, 2014 levels or whatever. They're all wrong. And the total number of agents did decrease, but I think it was, it was by basically nothing. And now here's another prediction. Wait for it. We are expecting the number of people getting real estate licenses will start to increase over the next 12 months. I'm following, I think what was a lot of people deciding to, you know, should I get a license? Shouldn't I get a license? And here's how I know that's true. The number of emails and the number of texts I get from people who are getting real estate licenses who want to join Julie and I at eXp royalty is through the roof. Absolutely. And I would also concur from my own private elite coaching clients. Many of them have gotten their adult children licensed, their transaction coordinator licensed, their assistant licensed. You know, there's a lot of things that happen, um, with a change and doing more volume that just, you know, people want to have their family work in the business. There's lots of that going on about 6%. By the way, I did read that about 6 % of current licensees, uh, got licensed as a result of doing something during COVID, you know, supplementing their other job, for example. That's a good point. I mean, there also was a baby boom, you know, so between studying for the real estate test and the, you know, the other thing, I guess there you go, Oh, and I'm sure a lot of those babies eventually get licenses too. I mean, Zoe's already wanting to get a license. So as far as those of you who are looking to upgrade your brokerage experience, a reminder Julie and I are proudly associated with eXp royalty. So if you're looking to join eXp royalty and you're looking for a sponsor, they'll be very proactive in your success at eXp. There are two paths forward for you. Number one is you could just text me directly, and this is if you're ready to land the plane and join eXp and you're ready to choose your sponsor, text me directly at 512 -758 -0206, 512 -758 -0206, text don't call. The other thing you can do also is if you're filling out the application, just put Julie Harris, Georgetown, Texas as your sponsor. If you want to learn more about why so many agents are joining with Julie and I in our group at eXp Realty, by the way, our eXp Realty group, listen to this guys, our eXp Realty group so far this year has done 3 billion, 300 million in real estate transactions on over 11 ,000 transactions if I remember correctly, most of which are on the seller side. So if you want to talk about an incredible success during what should be a slower year for virtually everyone, our eXp Realty group is actually increasing by significant margins and units and in total dollar volume. So yes, we'd love to have you as part of our overall group and if you're ready to join eXp Realty here are your two paths. One, you can just frankly scroll down and click the link and go over that's in the show description below and read more about our eXp Realty group or you can just text me directly at 512 -758 -0206, 512 -758 -0206. In the market that is going to start happening, we're going to guess the next 6 to 12 months it's going to feel very much more like a real estate, frankly, recovery if not a surge. You definitely want to be with a broker that's going to have your back and definitely want to be with a team that you know is experienced to make it so you can help the most people and maximize your potential in real estate and please do consider Julie and I for the job of being your eXp Realty sponsors. All right, next surprising point. Well, next, in last year based on the NAR report, the typical agent had 12 transactions which was the same as the previous year. Now what was the sales volume? Well, the median sales volume for brokerage specialists increased to 3 .4 million from 2 .6 million, so things are looking up there as well. Now they always do a survey about how agents perceive what's going on with their prospects, right? Let's go back to that point, okay? So again, this always goes back to the interesting things when you dig into the numbers. So if the average agent and we are talking about 12 transactions, right? I'm looking at your notes. So 12 transactions and the average home in the United States is $400 ,000. So if you did, for example, I mean, if it's you guys, whatever your market commission is, but let's just call it $10 ,000, $10 ,000 times 12 transactions is $120 ,000 a year and you wonder why real estate is such an amazing business to be in. I mean, come on, it's incredible because during inflationary times, yes, everything is getting more expensive, but so is real estate, which means your average commission is also increasing. Look how smart you were to be in real estate where most everyone else is suffering from inflation and the cost of living and all the rest of it. You actually have a built -in pay increase year after year as things start to inflate even more so in real estate. So there you go, go you. Exactly. And related to that, 17 % of agents sold 10 million or more in volume, 4%, 15 million or more, and 5%, 20 million or more. Some of that you can chalk up to higher average sale prices, but again, go you because it's baked in that you're going to make more money doing more deals at a higher price, right? Okay, so let's look at the next one. All right, so at 32%, lack of inventory remains the most important factor limiting potential clients from making a purchase followed by housing affordability and difficulty finding the right property. I think difficulty finding the right property is the same as lack of inventory.
The Crypto Overnighter
A highlight from 674:JPEX Meltdown, FTXs Family Feud, and Global Regulatory Squeeze
"Dispatch, this is Mindy at ME Flow. You know, you don't have to put off fixing plumbing problems in your home anymore. I mean, you could just ignore that clogged drain. Or visit MEFlow .com to take care of your plumbing problems. ME Flow, License 271 -001 -2450. Dispatch, this is Mindy at ME Flow. Coming to terms with a dying AC unit is tough. I know, because I've been there. I tried to get my old unit to last just one more summer, and boy did I pay the price. Longest summer of my life. So trust me, if you need to replace your AC, just call ME Flow. My team is on time, total pros, and can take care of any type of AC replacement. Visit MEFlow .com to schedule your free estimate. ME Flow. One call, one company. Well, I gotta get back to it. Dispatch, this is Mindy. Go ahead. Good evening, and welcome to the Crypto Overnighter. I'm Nickademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific on Tuesday, September 19th, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight, we're diving into Hong Kong's JPEG scandal, which has rocked the crypto world and prompted regulatory crackdowns. Across the pond, the UK is sharpening its legal tools to seize crypto assets. But at what cost to financial freedom? In a surprising twist, FTX is suing the parents of its founder, Sam Bankman -Fried, for alleged misappropriation of funds. Meanwhile, the New York Department of Financial Services is tightening its grip on crypto firms with new guidelines. Down in Thailand, a new tax policy could discourage crypto trading by residents, and over in Malta, the blockchain island is aligning itself with new European crypto regulations. Since around the beginning of the year, we started bringing stories about Hong Kong's re -emergence into the world of crypto. We watched China turn a blind eye as Hong Kong politicians and officials appeared to soften their stance against crypto. We've watched as policies have been announced and licenses granted. Sadly, it seems Hong Kong's brand new crypto landscape is in turmoil thanks to the JPEG scandal. The Hong Kong police have arrested eight individuals in connection with the alleged fraud. The police received 1 ,641 complaints involving assets around HK $1 .19 billion. The authorities also seized cash, jewelry, computers, and phones worth about HK $8 million. Additionally, HK $15 million in relevant bank accounts were frozen, along with properties worth about HK $44 million. Hong Kong lawmaker Duncan Chu stated that the city is running its second round of consultation for stablecoin issuance guidelines. He hopes that regulatory guidelines for stablecoin issuers will be released by the middle of next year. This comes as Hong Kong aims to develop itself into a Web3 hub. In June, Hong Kong officially started its crypto licensing regime, allowing licensed exchanges to offer crypto trading services. The JPEG scandal is a glaring example of why regulation is both a necessity and a double -edged sword in the world of crypto. Hong Kong, unlike its hulking big brother China, has been more welcoming to crypto firms. Yet, the JPEG case shows that this openness can be exploited, and the government's response? Tighten the news. Hong Kong's chief executive announced increased efforts to inform investors to only use platforms with Securities and Futures Commission licenses. The JPEG case exposed the vulnerabilities in Hong Kong's crypto market, and it's clear that the government is now in damage control mode. The question is, will this lead to overregulation, thereby stifling innovation, or will it strike a balance, ensuring both growth and security? Either way, it's a critical moment for crypto in Hong Kong, and by extension for the global crypto community. Now before we move on, remember if you find this content valuable, hit that follow button and turn on notifications. Now from Hong Kong's regulatory puzzle, we hop over to the UK. The British are writing new laws that could redefine your notion of financial freedom. Is this an evolution or a step back? Let's find out. The UK is ramping up its efforts to combat crypto -related crimes. A new bill, known as the Economic Crime and Corporate Transparency Bill, is set to be enacted later this year. This legislation aims to empower local authorities with the ability to freeze and seize crypto assets tied to criminal activities more efficiently. The bill removes the need for an arrest or conviction before assets can be frozen. This is a significant change from the current laws. The bill also introduces new civil forfeiture powers. These allow assets to be seized even if a person is not convicted of a criminal offense. This is particularly useful in cases where the subject of the investigation is unlikely to face justice in the UK. The UK plans to spend $124 million to fight economic crimes, a 50 % increase compared to 2020. The bill has moved to its final stages in parliament and is awaiting final approval. Okay, where do I begin? The UK's new bill is a double -edged sword. On the one hand, it's a powerful tool for law enforcement. It can prevent criminals from moving their assets offshore before they're seized. But on the flip side, this could be a slippery slope towards more centralized control over crypto assets. The bill's broad powers could potentially be misused, leading to unjust seizures. Moreover, the UK's aggressive stance might push crypto activities to jurisdictions with lax regulations. This could make it even more challenging for global authorities to track illicit activities. The bill also raises questions about financial privacy. How much power should a government have to freeze and seize assets without a conviction? The UK's move is a clear signal that governments are becoming increasingly uncomfortable with the decentralized nature of cryptocurrencies. While the bill aims to fight economic crimes, it also sets a precedent that could be followed by other countries. This could lead to a global tightening of regulations around cryptocurrencies, which are something we should all be wary of. How you think seizing crypto assets without a conviction is shocking? Hold your horses. FTX is suing the parents of its founder. You heard that right. It's a family feud worth millions, and it raises some dark questions about ethics in the crypto world. Don't go anywhere. So that's gotta be a rough day. The day the company you founded sues the very people who gave you life. But that's what's happening as FTX is suing the parents of its founder, Sam Bankman Fried. The lawsuit aims to recover millions in quote, fraudulently transferred and misappropriated funds. Both parents, Joseph Bankman and Barbara Fried, are accused of exploiting their influence within FTX to enrich themselves. The lawsuit alleges that the parents received millions from FTX for personal benefit and their chosen causes. For instance, they received over $18 .9 million for a property in the Bahamas known as Blue Water. The parents are also accused of siphoning off money for lavish expenses like $1200 per night hotel stays. The filing further claims that Joseph Bankman had a unique understanding of FTX's complex corporate structure, which he used to facilitate a $10 million cash gift to himself and Fried. Barbara Fried was the point person for SPF's political contribution strategy and co -founded a political action committee that received tens of millions of dollars from FTX. The lawsuit also says that the parents were involved in FTX's business cradle to grave. Joseph Bankman is described as a de facto officer of FTX group with broad authority to make decisions. Barbara Fried was actively involved in FTX's political donations. The lawsuit against SPF's parents shines a glaring spotlight on the darker aspects of the crypto world. The case raises questions about the ethical boundaries within businesses in the crypto space. The parents, both law professors, should have known better. Their academic credentials add a veneer of legitimacy, making the allegations even more shocking. The involvement of Stanford law professors in such a scandal reminds us that even those in towers can be lured by the siren call of easy crypto riches. The lawsuit paints the picture of a family that used their intellectual prowess, not for the betterment of society, but for personal gain. It's easy to get caught up in the promise of decentralization and financial freedom, but this lawsuit shows that the same old vices, greed, corruption, and exploitation, can infiltrate even the most modern of financial systems. It's as I said at the time, the crime had nothing to do with crypto and everything to do with greed. Intrigued by the drama at FTX? Make sure to like this episode and share it. But now, let's switch gears. If you thought family drama was complex, try navigating New York's new crypto guidelines. The NYDFS is tightening the leash on crypto firms. Is it protection or overreach? We're diving in.
The Breakdown
A highlight from The Five Most Important Stories in Crypto This Week
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Saturday, September 16th, and that means it's time for the weekly recap. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello, friends. Well, as you know, I have been doing something a little bit different for the weekly recap recently. I've been collaborating with Scott Melker, the wolf of all streets on Friday morning with a live show that we've been doing. That's basically a chance to count down what we think are the most important stories and have some more editorial analysis around them. Obviously, you guys know that when it comes to the normal breakdown show, the way that I insert editorial isn't me giving my opinion on every story that comes through. Instead, it's about how I curate the breadth of different opinions, and that's what really matters to me. I want you guys to have lots of different opinions so you can make up your own minds about everything that's going through this industry. However, people have responded to having a chance to have a little bit more of subjective that opinionated take. And so today, while Scott is in Singapore for token 2049, I decided that I would do my own countdown. This is pretty off the cuff. I'm just letting it rip. But these are what I think are the five most important stories in reverse order. Of course, we're going to do a countdown. Let's make it a countdown. At number five, we have the Gensler hearing and his subsequent comments. So what happened? Well, there was a standard oversight hearing for the SEC this week in the Senate Banking Committee. And of course, everyone in the crypto space was waiting with bated breath to see what soundbites would be trotted out against us this time. Certainly, they were there. Sherrod Brown, who's the chair of that committee, certainly used it as a chance to reinforce his view that a crypto is bad and that be the SEC's enforcement record is good. And Gary's prepared testimony also had some knocks on the crypto space as well. When it came to the hearing itself, the biggest soundbite from Gensler was when he responded to Sherrod Brown, saying right now, unfortunately, there's significant noncompliance and it's a field which is rife with fraud, abuse and misconduct. That was the headliner quotable that people ran with. And yet what was notable about crypto in this hearing was how little crypto there was in this hearing. Indeed, it was almost totally supplanted from the GOP as a topic of interest instead to be something like Exhibit A in a broader case that it seems like Republicans are going to be making for the American public heading into election season, which is about the overreach of Biden appointees and government agencies in general. There was a lot of antipathy towards Gary Gensler for his refusal to comply with Republican requests for oversight. Ranking member Tim Scott, for example, called this dereliction of Gensler's duties to the American people. And in general, it seemed like Republican members were gearing up for much bigger fights. Things like the major questions doctrine, which is a new vector for having the conversation about how much authority agencies and unelected officials can claim. Those seem like the battlegrounds that are shaping up in this pre -election season. So the reason that this hits number five at the list is not that there was something really substantive that was said. It's the fact that there wasn't. And indeed, that crypto has become part of a very different narrative, which is something that given that we are just at the beginning of presidential election season, I think we're going to see a lot more of. Now, as to the question of whether crypto not being a hot button congressional issue throughout the rest of the election cycle is a good or bad thing, I think that's a little bit in the eye of the beholder. Certainly, we had a pretty good chance to get some bad legislation on the books during the time when antagonism towards the industry was highest. But at the same time, you have a whole lot of people and a whole lot of companies and a whole lot of institutions that simply aren't going to touch the space with a 10 foot pole until we get some at least basic clarity. I think that if you are in that camp that wants that basic clarity, the best that you can hope for is some very targeted legislation such as common sense stablecoin rules or something like that. Number four on our list today, we have of course, Binance executives leaving. This was the only one that I knew had to be at this certain level. Because of course, four is CZ's favorite thing to say when anyone has anything to say about Binance this year. TLDR three executives left this week from Binance US making the total 13 across the entire conglomerate since June. News broke on Tuesday that Binance US CEO Brian Schroeder was gone. And then on Thursday, the head of legal and the chief risk officer followed suit. Now added to that we have allegations from the SEC that Binance US were not cooperating with document discovery and that their wallet provider is a Binance subsidiary offshore. In other words, effectively a direct allegation from the SEC that Binance lied earlier on in the lawsuit when they said that they would not send client funds to Binance International. Now CZ did come out and address the rumors around Brian Schroeder. He said in the tweet, there's been some speculation regarding recent management changes at Binance US. Brian Schroeder is taking a deserved break after accomplishing what he set out to do when he joined two years ago. Under his leadership, Binance US raised capital, improved its products and service offerings, solidified internal processes and gained significant market share, all of which helped to build a more resilient company for the benefit of our customers. We are grateful for his contributions. Of course, the crypto world falls into basically exactly two camps. The one who followed up that post saying thanks so much for the explanation. Of course, that's it. And the rest of us who are looking at it sort of shaking our head saying, of course, that's the only thing that you can say. So what's actually going on? Well, it seemed for a very long time like Binance had basically no future in the US. It is under absolute assault from basically every regulatory angle. And regardless of what turns up, there's already been a huge impact on market share. It doesn't have access to banks. And at this moment, we're seeing trading volume in the single digit millions for 24 hours, which effectively means it's not doing anything. We've had eight months of online science from that CEO Brian Schroeder. And so it's hard to imagine that there's any real future there. Now at the same time, it's important to remember that Binance doesn't necessarily need the US. It is still by far the biggest exchange in the world, although its market share has decreased as well. And it would be a pretty rational move at this point just to move on to greener pastures. Now that said, it does not at all feel like the regulatory story and the investigative story around Binance is done. And while I'm certainly not rooting for them to have done bad things, because God knows this industry doesn't need another SAM. I also would like whatever's going to happen to happen so we can get on through it. Speaking of SAM at number three, we have FTX selling approved. This has been a big emergent narrative, really more of a fear than a narrative. And the TLDR is that Galaxy Digital has been approved to start selling FTX's liquid crypto assets. FTX has about 3 .4 billion worth of liquid crypto to sell. And Galaxy has been authorized to sell 50 million of that this week and next week, and then 100 million per week after that. There had been some discussion before this approval around whether people could just get their crypto back instead of it being converted to US dollars. But basically, the bankruptcy estate said that that was just impossible based on how messed up things were internally at FTX. Now, why this matters is less the bankruptcy process and more about the market internalizing this deep fear that we have this big multi -billion dollar sell pressure coming right down the pipeline. Lots of people have pointed out that it's not in anyone's interest, Galaxy Digital FTX or any of us, for this group to just mass dump this and create negative price impact. But that hasn't stopped people from being scared. It feels to me like one of the next things we just have to get through and frankly might correspond with another round of negative press around SAM's trial coming up next month. But if we're asking for opinions, get through it, we will. I think the pressure will be less bad than people think it will. And I think there will be a little bit of a rebound narrative when people realize that it is less bad than they anticipated. At number two, we have the SEC but in a different context. The SEC settled their second case against an NFT project this week, that project being Stoner Cats. Now, I did a whole show about this. But basically, the important things about this are one, the SEC saying its jurisdiction extends to NFTs, two, the reasoning for the SEC's jurisdiction extending to NFTs making it seem like their jurisdiction extends to your Magic cards and your anything else as well. Three, for the fact that we are again seeing their strategy of going after smaller projects who have very little incentive to actually defend themselves and much more incentive to just settle and move on with their lives. And four, for the increasingly direct dissents from Hester Purse and Mark Ueda. Now, there are a lot of pieces of that. I don't really want to go into the whole NFT and collectibles argument again. I did that on the show a couple days ago. I will only say here that I do think that overreach in this area potentially undermines SEC authority in the long run, because I don't think it's going to hold up necessarily. I think the bigger thing to watch is once again, the culmination, the crescendo, if you will, and the coming endgame between this SEC and the industry. Now, of course, should the SEC be emboldened by another Democratic administration, things could just continue or even amplify. But it does kind of feel like we are at the period where most of the big shots have been fired, cases against Coinbase, cases against Binance, etc. And now they're back to trying to pick off easy targets that have implications that would lead to the accumulation of their own power. Perhaps once again, this is the reason that the GOP opponents of the SEC have decided to make the issue not crypto per se, but regulatory overreach in general and Gensler's desire specifically to expand his personal authority and the authority of his office in ways that undermine the authority of Congress. In other words, the reason that the Stoner Cats decision gets so high on this list is not so much the Stoner Cats decision. In fact, it's not hard to find people even in the crypto community who don't really want to go out on a limb to defend Stoner Cats. Instead, it's about what it represents in terms of the cycle and where we are in the fight versus the SEC, which leaves us with our number one, which is actually a news story that broke a week ago on Friday, which is Ripple acquiring Fortress Trust. Now, it's not really Ripple acquiring Fortress Trust. That's the number one. It's what has happened subsequent to that. Specifically, the very brief timeline of events is that last Thursday, this is Thursday, September 7th, said that there was an incident and that all client funds were safe. On Friday, however, Ripple announced an acquisition of Fortress, which coming right after that all client funds are safe announcement certainly raised some eyebrows. And indeed, by Monday, back to this week, we found out that this was actually a bailout and that $15 million was stolen from Fortress, which was made whole by Ripple. On Wednesday, Coindesk dug up the incident report from the software partner, and it appeared that the software provider and not Fortress themselves were the ones that had the breach. Although it also doesn't appear that Fortress were really abiding by the best practice security offered by that provider. On Monday, Anchorage Digital co -founder Diego Monica had discussed the issues with housing crypto custody within trust companies that may or may not have the technical expertise to do it safely. Now, it was related to the prime trust wallet incident, which, by the way, happened under the same watch of the guy who was running Fortress Trust. But it's certainly just as applicable here. Diego said it is an integration failure. It is a company that did not have the technical ability to do what they're saying that they do. So you've got multiple layers of why this story matters and why it's at the number one slot. First, you have the significance of this crypto institutional consolidation. Fortress was one of very few custodians, and so seeing them get acquired by Ripple will have Ripple effects for the rest of the industry. Second, I think that it is reflective of the larger brittleness of crypto institutions right now coming off of the chaos of the last two years. The infrastructure for big businesses and major funds and major investors to interact with this industry is very, very bad right now. Now, of course, a lot of that is due to the fallout of things like Operation Chokepoint 2 .0, where it's just getting harder and harder to be banked, for example, to get access to things like banking services and accounting services. But whatever the set of reasons, it has set back and will set back the industry. Obviously, one of the major positive trends that we have in crypto right now is the fact that major institutional players are circling around the edges, starting to wade their nose in. You've got Franklin Templeton adding their ETF application to the mix as a for example, and maybe that should be on the list as well. But it will be a significant barrier for those companies if they're not able to actually interact with these basic services like custody without having to go build it themselves. Now, the most likely outcome in my estimation is that they do, in fact, go build it themselves, that the companies who are good at all of these different parts of the traditional financial sector reapply simply that expertise to the crypto space. And I wouldn't be at all surprised if what happens and how the regulatory stuff resolves is that basically authority to do all these things is given to who the regulators perceive as the adults in the room. Another way of putting this is that in the same way that BlackRock is likely to get the first ETF, because that gives regulators the ability to say, look, we gave it to a safe party, I wouldn't be surprised if you see more and more crypto activity being managed by these storied, vaunted financial institutions that have long term relationships with the regulators themselves. At the same time, of course, there is no crisis without opportunity. And by the end of the week, Swann had announced that they have plans to spin out a Bitcoin only custody service. They announced that they are working with cold storage provider BitGo to develop the service and they are planning to structure it as a trust company. Now they are quite clear that this is a very difficult thing to do, that there is going to be a long period of getting the requisite regulatory approvals. But ultimately, I think it would be a huge boon to the ecosystem for that service to exist, especially from a service provider that Bitcoiners have built trust with. And that ultimately that combination of reflecting where the industry is, and the really low ebbs and hard points of what's happened over the last couple of years. But also the fact that there are multiple paths forward, some which we might prefer to others is why the Fortress Trust Ripple and now Swann situation makes my number one for the week. Anyways, my friends that is going to do it for the weekly recap. Let me know what you thought of this format. Come join us on the Breakers Discord. It's a great place to talk about this. I hope you are having a great fall weekend. And until next time, be safe and take care of each other. Peace.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"I'm so sorry, ma'am. I know you need this medicine, but it looks like it's not covered by your insurance. Yeah, unfortunately, I had to deny that one. Wait, who are you? I'm your insurance company's pharmacy benefit manager. I get paid based on the price of a medicine, and I don't make as much money off this one. No one should stand between you and your medicine. Visit phrma.org slash middleman to learn more. Paid for by pharma. And he also says, now quoting material indicators, here's how Bitcoin order book and Binance is set up for the weekend. I pushed the volume percentile filter and fire charts a bit to highlight where liquidity is, as well as the dark zones of illiquidity. There are at risk of being exploited. So there you have it. Now for the next factor, which is the CPI leading huge pre FOMC week. That's right. Huge last week before the September Fed meeting. Financial commentary resource to base the letter wrote in part of a preliminary commentary, noting that lots of volatility lies ahead. And as Michael Saylor once said, volatility equals life force. So there you have it. Now for the final factor to keep your eyes out on this week in the Bitcoin market. As you can see here, back to March 2020, there seems to be some deja vu patterns creeping away, given that the current level of the UTXOs and loss indicator mirrors that of the black swan event between March and April of 2020. Those anticipating another black swan event might want to consider whether we are already in the midst of the event they are waiting for, according to crypto quant. So there you have it. And quitting Max Kaiser, Bitcoin fixes this. El Salvador's Bitcoin adoption helps secure them from the central bank coups and other financial terrorist attacks. And guess what? Today is the 22 year anniversary of 9-11. That's right. Back in 2001, we all know what went down. Now, 22 years later, here we are. So let's just kick it into high gear because there is so much to cover in very limited time. Now let's discuss the latest with Grayscale Bitcoin Trust and the GBTC discount on that product, which is at pretty remarkable considering the Bitcoin price action is at three month lows. Bitcoin's largest institutional investment vehicle, which is GBTC, has seen its fortunes improve significantly since the news of BlackRock, the world's largest asset manager, said that it planned to file an application for the US's first spot Bitcoin price exchange traded fund, better known as ETF. This was music to the ears of Grayscale executives who are already in the middle of a legal battle with the US regulators overturning the GBTC product itself into a spot ETF. The US SEC has yet to approve a single spot ETF app, as we know, recently delaying a decision on multiple projects. But despite this, Grayscale last month won a key face off with the SEC, securing a welcome industry boost, which further buoyed the GBTC price performance. GBTC shares discount on the Bitcoin price once a surplus referred to as the GBTC premium was just 17.17% September 9th, two days ago, marking its best level since December 2021. The premium has been negative, known as a discount to net asset value ever since, and at one point it reached nearly 50%. So GBTC has thus begun to diverge from the Bitcoin price strength, with the latter still sloping downhill as it retests levels rarely seen over the past six months. The Bitcoin price did trade at under 25.5 and is currently barely holding on to 25,000 at the time of this recording, and September tends to be a weak month for Bitcoin overall, which often loses up to 10%. Quoting CryptoCon here, September is historically a pretty bad month for Bitcoin, that's just the facts. October is historically very bullish, the popular trader shared. Now CryptoCon added a chart flagging the late November as a key time to watch for signs of life on Bitcoin during pre-having years, as outlined here on your screen. This echoes an existing theory, which specifically gives November 28th as the bull run launch date for the Bitcoin price once every four years. And lo and behold, that's just two months out, fam, that's right around the corner as we're ready today, September 11th. So there you have it, let me know your thoughts regarding the GBTC product and the upcoming Bitcoin halving scheduled to take place in April of 2024. And now let's break down our next featured story of the day, another scam unfortunately in crypto, basically scamming investors at a $27 million from this Thailand crypto exchange. So let's break this one down, shall we? Here we go. Authorities in Thailand arrest five foreign nationals linked with a fraudulent crypto investment platform that fleeced over $27 million from local investors. According to the initial report from the Bangkok Post, Thailand's Cybercrime Investigation Bureau arrested four individuals from China and one from Laos for orchestrating a fraudulent investment scheme that duped more than 3,200 locals. That sucks. Now they began investigating the operation with the assistance of the U.S. Homeland Security Investigations and other international law enforcement agencies after affected investors came forward in late 2022, claiming they had lost investments made through bchgloballtd.com. Have any of you heard of this before? Do let me know in the chat. The five accused were arrested and charged with colluding to commit transnational crime, public fraud, as well as money laundering. The office of the attorney general in Thailand moved to prosecute the suspects in August of 2022 before the anti money laundering office confiscated $585 million Thai baht worth of personal property from the accused. The spokesperson said that the investment schemes continue to cause the most financial damage among scams reported in the country. Victims are said to invest their life savings into these schemes or take out mortgages on homes or properties. Thailand's SEC Equivalent issued new requirements in January of this year for virtual asset service providers in the country, aimed at increasing investor protection and safeguarding user funds held by custody providers. Now, scammers have gone as far as targeting metamask users using government owned website URLs to trick victims to access their crypto wallet holdings. So as you know, you can't be too safe. The safest thing to do is remove your crypto off the exchanges. And if an investment sounds too good to be true, for example, give me one Bitcoin and I'll give you two back. Guess what? It's too good to be true. And that's how these scammers get away with so many scams. People, they're feeding on their emotions and their greed. You know what I mean? So trust nobody, verify everything. There are so many scams out there which gives crypto a bad name. It's very unfortunate. And a lot of these scammers, they get away with it. You know what I mean? So you've got to be smart. You've got to put in your homework and make sure you're not taken advantage of. Because with great assets like Bitcoin comes great responsibilities. You've got to learn how to protect those assets, fam. That's just real talk. Now let's break down our next story of the day and discuss the Bitcoin curriculum being shared in El Salvador, which is a game changer, educating the kids. Because at the end of the day, Bitcoin is for the children, wouldn't you say? Shout out to all the beautiful kids in El Salvador. Exactly two years after establishing Bitcoin as a legal tender, El Salvador's Ministry of Education began its pilot program this Thursday to bring Bitcoin education to the nation's public schools. The program launched in partnership with Nada Bitcoin Projects, Bitcoin Beach, and My First Bitcoin will teach 150 public school teachers about Bitcoin before the educators return to their own classroom in their local schools. As early as 2018, crypto had already penetrated the world of higher education. According to a Coinbase report, they found that 42 of the world's top 50 universities had at least one course on crypto and blockchain, which virtually means the game is changing. Here's a clip taken from the educational program coming out of El Salvador, quoting them here. Our teachers are ready. They have been training, teaching, and even themselves improving our own Bitcoin diploma for over a year, said John Denny, founder of My First Bitcoin, to decrypt. The public school teachers are literally right now being trained. El Salvador adopted Bitcoin as an official currency, as we all know, two years ago, garnering major attention for being the first country to run the experiment on a national scale. It has had some technical issues along the way, and on-ground adoption has been limited, but the tourism in the country has surged in response, and obviously it's going to continue to do so. Since launching in 2021, My First Bitcoin had already taught 25,000 in-person Salvadoran students. Let's go! Last year, the nonprofit developed a 10-week Bitcoin diploma that is open source, meaning its contents are fully available as well as viewable online, not unlike what the colleges and universities have done with massive open online courses. Having already been used to help educate students across the nation, the Bitcoin diploma was later used to teach the staff from the Ministry of Education about Bitcoin and now being used to train the teachers. The 187-page student workbook features economic education, touching on subjects like the role of money, its evolution, and the dark side of fiat preach. It includes English, German, Korean, as well as Spanish translations. Here you can see a picture of the president, Bukele, along with Saifedean Amas, who is the author of the Bitcoin Standard. The workbook's contents echo themes from that book, the Bitcoin Standard. How many of you have read that? I consider it the Bible of Bitcoin, just FYI. The basement of currency occurs when the government reduces the value of its currency by increasing the money supply or decreasing the quality of the currency. He also clarified that Saifedean Amas made no direct contributions to the course material, which was devised by a small team of teachers in El Salvador and the United States. However, a version of the diploma was once reviewed by popular Bitcoin and Lightning developer Giacomo Zucco. It has been a bumpy road to get there, but throughout the past years, the students have been extremely receptive. My First Bitcoin currently works with grassroots education initiatives in over 20 countries, including multiple states in the United States, Canada, the UK, Hong Kong, Guatemala, Cuba, and others. Regarding state education, they said that two additional Latin American governments have already reached out to My First Bitcoin over the past month for potential collaborations on Bitcoin education. That's a pretty big deal. Furthermore, the nonprofit is in the early stages of collaboration with the state government in Mexico for a pilot teaching 250 students about Bitcoin. With the help from Bitcoin supportive Senator Indira Kempis, we expect to continue to expand at a rapid pace. El Salvador is the focus, but the mission is the world. Very powerful words. How many of you would love your children to be gaining a Bitcoin curriculum in their local school? I sure as heck would love to see that. Hopefully the adoption continues around the world as El Salvador continues to set the precedent. And now let's break down our next story of the day. And that's on everyone's mind right now. Is FTX going to dump over a billion dollars worth of cryptocurrency to pay off the debts that the company holds? Well, let's break this down because it's over a half a billion dollars worth of BTC and over a billion dollars worth of Solana. That's right. FTX, the bankrupt crypto exchange, is slated to appear in Delaware bankruptcy court on Wednesday and two days September 13th to seek approval for the liquidation of 3.4 billion dollars in Bitcoin and crypto. The event has raised concerns amongst market analysts, as you can imagine. And as of January 17th, FTX crypto holdings were estimated to include 685 million currently locked in Solana tokens, 529 million in FTT tokens, 268 million in Bitcoin, 90 million in Ethereum and various other assets, including Aptos, Dogecoin, Polygon, as well as XRP and stablecoins, with an additional 1.2 billion held in crypto on the third party exchanges. Here's a breakdown in charts where you can see Solana being amongst one of the largest huddled coins by FTX, along with their native coin, FTT, which we know is nothing more than a Ponzi coin, in which, what's his name, CZ from Binance, dumped, which was part of the reason FTX started to collapse last year when he announced that on Twitter. Now, on August 24th, FTX proposed a plan to appoint Mike Novogratz, Galaxy Digital, as the investment manager responsible for overseeing the sale and management of those recovered assets. But according to the plan, FTX would be allowed to sell up to 100 million dollars worth of tokens per week, a limit that could be increased to 200 million on an individual token basis, while those proportions are not yet legally binding, they are expected to be reviewed and possibly approved by the Delaware Bankruptcy Court in two days on September 13th. The market's primary concern is the potential impact of these sales. Billions of coins could hit the market in the creditor sale, and there is widespread fear that the market may only recover once this overhang has been gradually eliminated. However, it's crucial to separate fact from fiction in this scenario. First, it is highly unlikely that these coins will be sold en masse on the open market. And second, there is a proposed limit per week. And third, it is highly likely that most coins will be sold over the counter, better known as OTC, and those that aren't will be sold gradually via the market makers. So looking at the holdings, it becomes clear that a huge chunk of tokens is in FTT and Solana. And remarkably, FTX Solana holdings are locked and will only be fully vested in 2025 or later until 2028. Any sale would involve a buyer taking over FTX's vesting contract. While FTX's FTT tokens are marked at 529 million, their current market cap is only 350 million, raising questions about who would buy the significantly devalued asset. Great question, right? And as for Bitcoin and Ether, the amounts held by FTX are substantial but not large enough to cause a market-wide disruption. Aptos, with the market cap of 1 billion and 67 million worth to be sold, is the only asset that could potentially cause concern, but only if it is all sold at once, which is unlikely given the intent to maximize the value. And in another article, they're saying right here, FTX currently holds 560 million in Bitcoin, which is double what was reported in the previous article. They also mentioned in another headline, FTX has 222 million dollars in Bahamas real estate, so there is a tremendous amount of assets. We're talking about billions upon billions of dollars. How do you think this is all likely to be liquidated, and how do you feel it will impact the market? And do you think this is the main cause that the entire market is dumping right now? Let me know your honest thoughts, fam, in the comments right down below. Now for the moment, you have all been waiting for the latest and greatest from Cathie Wood of ARK Invest and her latest predictions, including a 1.5 million dollar Bitcoin price forecast. Let's break all this down and then we'll dive into our live Q &A. Massive shout out to everyone just joining the show. Make sure to let me know where you're tuning in from in the comments right down below. So yeah, ARK Invest's Cathie Wood believes that the convergence between Bitcoin and artificial intelligence will lead to a meteoric rise in the adoption of both technologies in a new ARK Invest video update. Wood says she is looking at the adoption S-curves of both Bitcoin and AI. The S-curve is a mathematical graphic that shows the rate at which the users adopt a new product or technology. And here you're looking at that adoption curve chart. It shows you the total percentage adoption. It shows you the innovators, the early adopters, the early majority, the late majority, as well as the laggards. So according to Wood, both Bitcoin and AI are about to hit the phase of the S-curve where users adopt technologies at an unprecedented rate. The ARK Invest head highlights that the convergence between BTC and AI could massively accelerate the process. Quitting her here, new technologies, they start out slowly and then they gain momentum and you end up into the steep part of this S-curve. I think we are at the very similar point in both Bitcoin and AI. They are both moving into the steep part of the S-curve. So you have S-curves feeding S-curves, creating opportunities for explosive growth potentials. Now Wood uses Tesla as an example of how tech convergences can serve as a catalyst for skyrocketing prices. Quitting her here, the first convergence that served ARK really well was Tesla. Most people thought that Tesla was an auto company. It is not. Of course, it is the convergence amongst three of our major innovation platforms. Robots, autonomous vehicles are robots and will be robots. Energy storage, they will be electric. It is the most efficient and least expensive solution. And three, artificial intelligence. They are going to be powered by AI autonomous taxi platforms. I think many people have been shocked by the explosive growth of Tesla and we haven't seen anything yet because autonomous hasn't happened yet. And now she goes on to share a $25 trillion market cap prediction, which means she believes the market cap will increase by another factor of 2100% in less than seven years. Quoting her right here, if the institutions want to move in, that's going to be a lot of incremental demand for not that much more incremental Bitcoin supply. The only way to do that is to bid the price up. So according to Wood, she predicts that the institutional investment would send the current $1.13 trillion crypto market cap as high as $25 trillion by sometime in 2030. And Bitcoin would comprise more than half of the total market cap. The veteran investor says that ARK's base case for Bitcoin is a price of roughly $650,000 per BTC in 2030 and a more bullish case about double that. That's right. In fact, it's $1.48 million to be exact, which I'll be covering in great details. But first, here's the quote. It's the first global private digital rules based monetary system the world has ever known. That's a big idea. We think the total crypto asset market in 2030 will be valued at roughly $25 trillion. Let me know if you agree or disagree with Cathie Wood. Now, let's break down the math more specifically regarding her $1.5 million forecast for the king crypto. As you can see in this chart shows you Bitcoin is likely to scale into a multi-trillion dollar market, which I just covered. She's predicting $25 trillion in the next seven years. So the bear case is $258,500 Bitcoin by 2030. The base case is a $682,800 Bitcoin by 2030. And the bullish case you can see here, $1.48 million per BTC in the next seven years. Let me know if you agree or disagree with Cathie Wood. So Wood believes Bitcoin will continue to establish itself as an insurance option against inflation and that everyone will want it at the end of the day. Cryptocurrencies protect wealth from outright confiscation, inflation and the risk of loss to third parties when stored or transferred. With the adoption of crypto and regulatory and legal framework in place, interest in Bitcoin will grow exponentially. The SEC being flooded with applications to launch Bitcoin ETFs clearly indicates the same. ARK Invest teamed up with 21 shares and applied documents ahead of the investment giant BlackRock. The SEC had accepted this and other submissions as indicated in the public records. A decision is due on the 13th of August, which already came and went. And unfortunately, Mr. Gensler and the SEC decided to push it back to October, which is the next deadline. Some experts agree that BlackRock's participation and increases the chances of a positive outcome, which we all know is a given. Existing crypto funds have already experienced an influx of capital from institutional investors not seen since quarter four of 2021, which is the same year and quarter when the Bitcoin price hit the current all time high of $69,000, with over $700 million invested in Bitcoin in simply four weeks. So as you can see, here's another great chart when it comes to price targets. The $1.5 million forecast from Cathie Wood fits well with Bitcoin's four year cyclical cycle as outlined right here in this chart. Now, in the current cycle, with a record in 2026, Bitcoin will reach a maximum in the range of $100,000 to $1 million. And in the next cycle, with a peak in 2030, the price range from $1 million to $10 million. It's unknown whether ARK Invest was guided by the theory of cycles, but potential investors should consider that forecast and mathematical models give only a conditional idea of future changes. So there you have it, fam. What are your thoughts surrounding Cathie Wood of ARK Invest and her $1.5 million price prediction for the King Crypto, as well as a $25 trillion market cap, as well as the continued explosive growth of Bitcoin adoption, as well as artificial intelligence, AI? Let me know your honest thoughts, fam, in the comments right down below. That's what's up. And don't forget to check out CryptoNewsAlerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again, that's cryptonewsalerts.net. Here are the five things to watch out for in the Bitcoin market this week. Number one, weekly close makes the Bitcoin price double top, a reality. Quoting analysts here, weekly close below $26,000 likely confirms the double top breakdown, according to crypto analyst Rec Capital. And also says what's quite remarkable, though, is that the past three weeks' closes have closed within $400 of each other. Talk about boring and flat price action. But the good news is we closed well above our weekly 200 exponential moving average at $25,600. So that's definitely a good sign. Now, the second factor to watch out for in the Bitcoin market this week is the $20,000 futures gap. Could that be next? Well, according to Rec Capital, the CME gap has been filled multiple times already, and it's been flipped into a new resistance. And under such circumstances, the potential Bitcoin price range would form with the $20,000 gap and previously filled gap functioning as support and as resistance, respectively, as outlined here in the chart. And according to Titans of Crypto, Bitcoin has a long history with the CME futures gap. These gaps tend to get filled sooner or later, but there is no guarantee that they will. Let me know if you agree or disagree with the analysts. And also, as shared here, for some of you who are in the crypto for quite some time, you may recall the $9,600 gap from September of 2020. Back then, everyone was expecting this gap to get filled so they can finally buy Bitcoin once again. But guess what? It remains unfilled to this day, and many got back in at $20,000 plus, FOMOing like crazy. And he also goes on to share, there is a gap that is still unfilled at $20,000 to $21,000, but will it get filled? Well, everything is possible, yet until the market structure is broken, it's just wishful thinking. So there you have it. Do you feel we're likely to close the CME futures gap between the $20,000 and $21,000 price action? Please do let me know in the comments. The next factor to keep your eyes out on in the Bitcoin market. And good to note, you guys, I appreciate the support in the chat, is the liquidity increasing at the March levels. That's right. Also feeding into the bearish Bitcoin price predictions is the general state of liquidity in the Bitcoin market. Quoting the analysts here, a dip into the liquidity below looks a decent probability, says synonymous ex-user Honey Badger.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Hugh talks "Code Red: A Mitch Rapp Novel" with Kyle Mills
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S. Over 15 million this year alone. And many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Welcome to today's podcast, sponsored by Hillsdale College. All things Hillsdale, hillsdale .edu. I encourage you to take advantage of the many free online courses there. And of course, to listen to the Hillsdale Dialogues, all of them at q4hillsdale .com, or just Google Apple, iTunes, and Hillsdale.
The Charlie Kirk Show
A highlight from The 110-Year War
"Full disclaimer, I will be watching NFL football tonight. I don't like it. They're a little too wokey for me. I just like football too much. I think it's the Chiefs and the Lions. Don't sleep on the Lions everybody. I'll tell you, they want it bad. So as tonight NFL football begins and it is the kickoff, if you will, of the NFL season. There's also another kickoff. You know, we asked Charlie, what about the 2024 election? The 2024 election is about a year and a way. No, no, no, it's happening right now, obviously. But there's a very, very important fight looming in real time right now. I believe it is the opening kick of the 2024 election. It's 930, September 30th. The federal government needs to pass a short -term funding bill by September 30th or there will be a government shutdown. Now, you may or may not remember this, but you remember about a year and a half ago, there was a massive bill that was passed, a huge bill, not a year. It was voted on by Senator Shelby from Alabama. He was the chief person who brought this forward where they basically robbed the House of Representatives, the incoming class. It was about 10 months ago of their ability to negotiate the budget, where they kicked it all the way to this date, September 30th. So the federal government needs to pass a short -term funding bill by September 30th. The Biden regime is asking that in addition to all the normal stuff, that Congress adds $44 billion on top of that in emergency spending, $16 billion for FEMA, $24 billion for Ukraine, on top of the $200 billion already spent on Ukraine. But the most important thing is this, is that we're seeing in real time the destruction, the erosion, the shredding of the United States Constitution. We see Jack Smith, an out -of -control rogue prosecutor, Merrick Garland, the Department of Justice. We see the number one political opponent to the regime who is beating him in the polls. Fact, he's beating him in the polls, whether they're truth polls or not. It's just fact, he's beating him in the polls, facing 500 years in federal prison. Many people are asking, Charlie, what can we do? What can we do? What can we do? How do we fight? How do we push back against? How do we fight? The 30th of September is a day where we can fight. It's a day where we can draw a line in the sand and we can defund the deep state. We have the House of Representatives. We have a majority. Now, I'm going to say something that is a little bit not unpopular, but it's different. I fully support the impeachment of Joe Biden. In fact, we should have done it three or four months ago. But I actually think defunding these agencies should be a bigger priority than the impeachment of Joe Biden. I'm not saying that we shouldn't impeach Joe Biden, but I actually think a more effective way to make long -lasting change, a more effective way to use the political power that the people gave the Republican majority is to defang the tyrants, is to go after these agencies. Now, let's play this out for a second. Joe Biden is a traitor to the nation. So I think that we should pass a clean impeachment resolution, send it to the Senate. But I don't think we should spend too much time on it. I think that's a very valuable time to go and impeach and investigate a guy that we already know who is an outright criminal. He's a traitor. He should be in Gitmo in federal prison for the rest of his life, as is his son. But does that have long -lasting change? Wouldn't it be more effective to tell the FBI you don't get your new building? You have to reduce your headcount by 20 or 30 percent. Tell the Department of Defense you're not allowed to have gay poems on aircraft carriers anymore, that trans whatever individuals are not going to be allowed in the military. Isn't this a more effective way? And the most important one that's obviously staring us in the face, Department of Justice. Are we going to keep on funding Merrick Garland? Will we have the leverage and we have the ability to say no? Now, the bad guys, the Democrats and the Uniparty Republicans, they want a clean resolution, a clean CR. Well, time out here. Hold on. You guys are going after every potential political dissident. Steve Bannon, 1 ,200 January 6 defendants. You're weaponizing the entire government and we're sitting there and taking it. And we've been saying on this program time and time again, well, where are the Republican AGs? Answer, not around. Not interested in doing anything bold or courageous. Where are the Republican DAs? They're not interested. They do not want to do anything bold or courageous. So how do we end this abuse? Now, understand this is not standard politics. This is a crisis. And in a crisis, we should act differently than we normally do. The one way we have to actually act at a federal level is for the House not to fund what Biden needs. So directly focus on five or six. Don't ask for the whole world. You're not going to get the world. But identify five or six of the Soviet Gestapo pressure points of the regime. Star of the beast. All funding must start in the House, period. Nothing the Biden regime does can happen without the House GOP offering up money for them to do it. Now, we should not fund a single dollar to Ukraine. But if we're thinking realistically, they're going to figure out some way to get Ukrainian funding. So if we were smart, we'd say, OK, they really want Ukraine funding. Use that as leverage then. Say, OK, so you really want Ukraine funding. Then there has to be border wall, border security. But more important than all of that, it is the lack of funding that we have to draw the line on. You don't get Jack Smith. You want Zelensky? No Jack Smith. And they'll say, well, you're going to shut down the government. OK. You want Zelensky? No Jack Smith. That's a popular position. And by the way, if you pick the fights, you can win. Majority of people are not in favor of the criminalization of Donald Trump. Jack Smith is the bright line. No Jack Smith, period. Jack Smith and his entire operation. Now, this is an interesting question, Blake and the team. Is Jack Smith an essential government worker or not if there was a shutdown? If we shut down the government, does that mean that Jack Smith and his team would still be operating? Now, again, one of the most frustrating things we go through every time there's a government shutdown is all of a sudden they say, well, these are essential and not essential government workers. If they're not essential, why do they have jobs? If they're not essential, why do they operate? Now, under Bob Mueller, when Bob Mueller was a special counsel, his office continued to work in the event of a government shutdown. OK, but even beyond a government shutdown, we need to defund Jack Smith, line item Jack Smith, carve it out and say, Jack Smith, you do not get another penny of U .S. taxpayer dollars, period. That's a good way to end Jack Smith. And the House Republicans have the entire ability to do that. We need to find the parts of the deep state that are grinding the American people to a halt. And it goes to the FBI, the DOJ, DHS, isolate them and starve that beast. And you're not going to get the entire budget down to zero. So get even more particular. Again, Congress, they don't do their job, unfortunately. So find Jack Smith's budget, which by the way, Jack Smith's budget is probably like $15 million. Like maybe, maybe, maybe like $9 million. And you could say in the funding resolution, you're done. Your team no longer authorized. These agencies have to go to Congress for money. And on the 30th of September, it is all bubbling up. Matt Gaetz and Andy Ogles have introduced similar pieces of legislation to deny federal funding for the special counsel. This is the line, everybody. We will not put up with our funding, our money to a Democrat super PAC, which is what Jack Smith has become. Jack Smith is a Democrat super PAC operator with subpoena power and the ability to put people in prison with handcuffs. Shut down the government over this, over the very specific principled stand. You go after Donald Trump and try to put him in 500 years in federal prison. The government's getting shut down. That would be hardball. I want to tell you guys about Good Ranchers. You heard me talk about it before, but it's new and improved Good Ranchers. I had Good Ranchers for our Shabbat dinner last week, and it was amazing. Look, Good Ranchers, they have better beef than ever. Their ground beef is better than ever. I had, I was like, wow, no antibiotics or hormones sourced from small family farms, humanely handled and USDA certified, 100 % cattle, Angus cattle. GoodRanchers .com. Look, I want to tell you, they're so delicious. It's all American meat and I love it. It's new and improved. So check it out right now. Two years of free high quality ground beef and a locked in price. No other meat company guarantees you 100 % American meat and a locked in price. That's because no one else is Good Ranchers. So check it out right now. GoodRanchers .com, promo code Charlie for $25 off and for $480 of free ground beef in your first two years. That is GoodRanchers .com. Support America, support Good Ranchers, American Ranchers, and support this program, GoodRanchers .com. If we go back to the roots of the Constitution, this is exactly why Congress is supposed to have the power of the purse.
The Eric Metaxas Show
A highlight from Dick Morris (Encore)
"Welcome to the Eric Metaxas Show. Do you like your gravy thick and rich and loaded with creamy mushrooms? If no one was looking, would you chug the whole gravy boat? Chug, chug, chug, chug. Stay tuned, here comes Mr. Chug -A -Lug himself, Eric Metaxas. Hey there, folks. Welcome to the show. I planned to have as my guest today our friend Dick Morris, but I did not plan to have Dick Morris here following what happened yesterday. I'm very glad that after this fourth indictment of President Trump, I have someone that I trust to ask about it. Dick Morris, welcome, and help us make sense of what in the world is happening in the United States of America at this time. Well, we're really in danger of becoming a judocracy as opposed to a democracy, a government run by judges. And I would say the justice system, but it's not, it's individual judges working for the administration. Biden has decided he can't defeat Trump in the election, so he's gonna defeat him in the courts. But first of all, do you even think that Biden is running? My theory would be that we have people behind the scenes in the Democratic Party who know that Trump is their worst nightmare, and they will do and are doing anything to stop him - But make no mistake, this is run by Joe Biden. He's not addled, he's not - I am surprised, honestly, to hear you say that. I would think that behind the scenes it's Obama, it's anybody but Biden. We need to change our image of Biden. He's mean, he's nasty, he's surly, and he's dictatorial. And he knows, and he desperately needs this job, not for the prestige, but for the money. Biden's net worth when he entered the presidency, no, I'm sorry, the year after he left the vice presidency, his net worth was $27 ,000. He never made any money. He served for 36 years in the Senate, was the poorest senator. Then when he became vice president, he made a little more. And then in 2017, when he left the vice presidency, he made a total killing. He made $15 million in one year. And God knows how much more that he didn't declare. And most of it was bribery. And he needs to continue that. He needs two things. He needs a continuous flow of bribes. And he also needs to do what the Chinese want, so they will cover it up for him and not turn him in. And I think that that's what you're looking at here. It's no surprise, really. The issue is what'll happen. I think the other point that's worth making here is that this indictment breaks entirely new grounds because what happened was that in 2018, Stacey Abrams ran for governor, Democrat. And she came very close to winning against Kemp. But there were a lot of votes that she claims were suppressed, blacks who couldn't vote. So she sued. And the litigation went on for two years. And finally, the state settled and they came up with a consent decree. And the key thing in the consent decree was that they would not scrutinize signatures very thoroughly of people who were absentee or voting by mail. The statute required for two verifications and they cut it back to one and they sharply limited the grounds for where signature could be tossed out. And under those new rules, they conducted the election of 2020. And when Trump lost the state, he realized there was a fraud involved. And he sent investigators down to check it out, Rudy Giuliani, Sidney Powell, and a bunch of others. And now they are all being indicted because they dared to question the results and to audit the results, really.
The Charlie Kirk Show
A highlight from The Rising American Caste System: My Speech at PHP Las Vegas
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S., over 15 million this year alone, and many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Hey everybody, happy Monday, happy Labor Day. My conversation at PHP, we talk marriage, we talk Jesus, the Gospel, Trump, and more. And I encourage all of you to get involved with Turning Point USA. That is TPUSA .com. We have some very exciting campus tour stops coming up this fall. We have Amfest coming at Amfest .com, America Fest in Phoenix, Arizona. Start a high school or college chapter to join our nationwide educational movement at TPUSA .com. Turning Point USA is making hope happen on the front lines, TPUSA .com. That is TPUSA .com. Also consider becoming a member of our program. You could do that at charliekirk .com and follow the queues. It's affordable for all income levels. We are adding exclusive interviews, ad -free episodes, and more. That is charliekirk .com. And click on that member button and follow the queues. I love hearing from all of you, so email me freedom at charliekirk .com. That is freedom at charliekirk .com. Buckle up everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Very powerful words coming from Max Kaiser. And as you know, he is the fearless Bitcoin maximalist who has been long and bullish on Bitcoin and preaching the holy gospel of Satoshi since over a decade ago via the Kaiser report. It was the very first time to introduce Bitcoin on international television. So massive shout out to Max and Stacy. And with that being shared, fam, now let's dive into the latest rulings with the lawsuit against Uniswap and Ethereum being announced as a commodity versus an unregistered security, as this is big news for the crypto sphere. United States District Court judge called Ether a commodity in her dismissal of a class action lawsuit against the centralized exchange Uniswap. And by a show of hands in the chat, let me know how many of you have ever used Uniswap as an exchange before in the August 30th dismissal, which was yesterday, the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange. The judge wrote ETH and Bitcoin were crypto commodities. Good to note. The distinction was also a part of her reasoning for dismissing the case. She said she wasn't convinced by an argument that Uniswap's token sales were subject to the exchange act. And interestingly, she also was overseeing the SEC lawsuit against Coinbase. And she also previously had experience in overseeing other crypto assets of the past, including one involving Tether and Bitfinex. So this shouldn't really come as a surprise. But with her comment in the it's not a distinct ruling on Ether's legal classification. So keep that in mind. It comes as other judges have made decisions on crypto, such as a July ruling classing XRP as a security when sold to institutional investors. And in recent years, two US financial regulators, including the SEC and CFTC, have tussled over jurisdiction concerning crypto currencies. Now, SEC Chairman No Clarity Gary once claimed that everything other than Bitcoin is a security under his agency's remit. But meanwhile, the CFTC had laid claim that Ether and other cryptos as commodities. Per suit, it filed against Binance in March for alleged Commodities Exchange Act violations. So which is it? However, US lawmakers are yet to decide on how the SEC or CFTC will be handed authority over crypto. Multiple bills to provide digital asset regulatory clarity are inching their way through Congress that vary in how to be authority between the two regulators. Some, such as the Financial Innovation and Tech for the 21st Century Act, aim to create a process for categorizing cryptos as either securities or commodities. Now, others explicitly hand power to a regulator, such as the Digital Commodity Exchange Act, which sees crypto spot exchanges registered and regulated under the CFTC. And the Digital Asset Market Structure Bill, meanwhile, would see cryptos undergo SEC certification to prove adequate decentralization before be given commodity status. So there you have it. We know very clearly by both the CFTC chairman, is that Jerome Powell, I believe, as well as No Clarity Gary of the SEC, that Bitcoin has the green light. It is not an unregistered security and it is deemed a commodity. So according to this judge, he's also ruling that at this current point in time, Ethereum can also be considered a commodity. However, we don't have that green light yet from the CFTC as well as the SEC chairman, Mr. Gensler. We'll see how it all plays out. Let me know your honest thoughts. Do you think Ethereum is most likely to be deemed a security or commodity? Let me know in the comments. And at the end of the show, I'll be reading all of your comments out loud. Now let's discuss next year, right around the corner, the same year as Bitcoin having six months out, scheduled to be sometime in April of 2024, which can spark billions of dollars being ushered in into the top crypto and crypto industry. So let's break this down. We have Bloomberg intelligence analysts thinking the upcoming year could be a huge catalyst for digital assets. We're talking about Jamie Kautz. He said on X that the US currently accounts for 80% of the total Bitcoin fun assets, despite the US SEC stance on crypto. He also knows that digital asset manager Grayscale represents 55% of that total just on its own. That's right. They control over 600,000 BTC, just FYI. They're in the process of converting their GBTC product into a Bitcoin spot ETF, as we just got breaking news the other day that the judge did not side with the SEC, which is great for crypto, quoting the analysts here. Now we're looking at the unlocking of billions in retail, registered investment advisor, institutional capital that will flow into the US based ETFs. 2024 will be quite a year indeed. In fact, there could be trillions. So billions could be conservative, just saying. Earlier in the week, federal judge ruled the SEC must reconsider Grayscale's app to convert their Grayscale Bitcoin trust into an ETF, which gave the crypto markets a boost in the price, which we saw Bitcoin surge literally almost $2,000 in a matter of 30 minutes off of the back of that news just a couple of days ago. Kautz also notes that the number of Bitcoin active entities recently spiked to a high of nearly 340,000, which he says now feels like positioning ahead of the Grayscale ETF ruling. The number of active entities has receded since Grayscale's legal victory and now sits at around 280,000, which Kautz notes is the midpoint of the three-year range. And with Bitcoin currently trading just above 26,000 as we're currently dumping, that means, I mean, the market cap, just all those gains we had have just been depleted, but we'll there's still so much bullishness in the market off of the back of that lawsuit and now with the Uniswap lawsuit as well, working in favor of the crypto industry. So it'll be interesting to see how everything plays out. And now for our next story of the day, let's discuss the real FOMO incoming for the King Crypto, BTC. Closely followed strategist, we're talking about Credible Crypto, believes Bitcoin traders are very closely to feeling the fear of missing out. Shout out to Credible. He says the real FOMO panic and disbelief start once we break back above 29 and 30,000. So if you think this pump was strong, wait till that region is reclaimed, BTC. And he makes great point as we tend to come back even stronger each time we revisit that resistance. Credible's outlook comes as Bitcoin jumped after the news broke, the digital asset manager Grayscale won the lawsuit against the US SEC and over the approval of the spot-based Bitcoin ETF. And now according to Credible Crypto, it's likely the Bitcoin will keep soaring while the traders wait for lower levels, quoting him here, probably the most off sides this market has been since 15,000. What everyone think of that 24,000 breakdown was a given. The reality is there was no break in the market structure. To justify the overly bearish sentiment, maximum pain scenario is to just keep pumping and leave everyone who was waiting for a breakdown behind. Like we have done so many times in the past, he's ultimately saying whatever the consensus expect the opposite because likely most people are usually wrong. I think he makes a great point. Meanwhile, fellow analyst Bluntz, what a great name, says he has not sold on the latest Bitcoin surge. And according to the trader, he sees Bitcoin and Ether witnessing one more move to the downside before the real recovery begins, quoting him here. I am still not 100% sold on this move up being a low on Bitcoin or Ethereum. I still think that one more leg down needs to happen to complete a five of C for Bitcoin and ETH before I'll be happy to call bottoms. And lo and behold, he was right because obviously we're currently correcting. He goes on to share that the invalidation of this thesis is if we break 1800 for ETH or 28,077 for BTC as wave fours can't go within wave one territory. And he's referencing Elliott Wave theory right here, which we commonly cover on the show. It's an advanced technical analysis approach that attempts to predict the future price action by following crowd psychology that tends to manifest in waves. And according to the theory, a bearish asset typically goes through an ABC wave before reversing the trend. And looking at the trader's chart, he appears to predict that Ethereum is due for one more correction along with Bitcoin before it rallies back above 2000. And that's what we're witnessing as Ether barely maintains 1600. Do you think we're likely to rally from that drop and go back to these targets as outlined by the analysts in these charts? Let me know your honest thoughts in the comments right down below. Now let's discuss a topic on everyone's mind right now. What's the likelihood of a Bitcoin spot ETF being approved by the regulators this year, not next year in 2024? Because according to the experts at Bloomberg, the ETF analysts that do this for a living, they now say there is a 95% chance that an ETF be approved by 2024. But we also have a solid 75% chance of an ETF spot being approved in the United States this year in 2023. What would set the stage for the most parabolic run in 2024, considering the halving, is around the corner. So now let's break this down. As you can see right here, Bloomberg analysts have raised the probability of an approval spot Bitcoin ETF by the end of this year, following a recent grayscale victory against the federal securities regulator. Let's go. And in August 30th post, Bloomberg senior ETF analyst Eric Balchunes said they raised the chances to 75% from an earlier 65% due to the anonymity and decisiveness at which the U.S. Court of Appeals Circuit reached this decision in the most recent case, quoting them here, the judges unanimously rep-uidated the SEC's arguments, and the agency will struggle to justify further denials as it faces these deadlines. Bloomberg analysts James Safart and Elliott Stein added in a separate August 30th note, as outlined here on X. And in his own post, Safart added that spot ETF approvals will likely be done by quarter four of 2024, estimating the approval odds to have now skyrocketed to 95% by then. However, Balchunes added that given the recent legal and public relations loss, a denial by the SEC will be politically untenable, as he shares right here on X. And he also, quoting him here, beyond the legal loss, there is also the PR loss, which matters because it sets narratives and changes minds. And this got covered far and wide in the mainstream media, including New York Times, Wall Street Journal, CNN, et cetera, and on and on. We think the legal and PR loss will combine to make denial politically untenable. So ultimately saying the SEC is not going to be able to deny it for much longer. And now over the next five days, as I showed in yesterday's episode, a big week ahead of us, seven Bitcoin spot ETF apps are due for the first deadline decision by the SEC. Those by Bitwise, BlackRock, VanEck, Fidelity, Invesco, WisdomTree, and Valkyrie, all major asset managers, with the largest obviously being BlackRock and the CEO being Larry Fink. Now, Balchunes said he wouldn't be surprised if the SEC delays these upcoming Bitcoin spot ETF applications. I wouldn't be surprised either, as I like to watch their actions and not listen to the words that they share, because everything they share tends not to be true, right? But most likely outcome will be that we unexpectedly wake up to the SEC giving in and approving the Bitcoin spot ETFs in one hit, he said. So can you imagine that? All the ETFs get approved at the same time. BlackRock, VanEck, all the largest asset managers, they literally control, like if you add them all up collectively, over $100 trillion in assets under management, which is larger than most of the GDPs of the countries in this world. And I mean, the total addressable market being north of $700 trillion, we're talking about literally trillions of dollars being ushered in into Bitcoin and the crypto market. Hence, ARK Invest's Cathie Wood's most recent prediction that $25 trillion is going to come ushering in into the crypto sphere. We can send a Bitcoin price parabolic to $1.5 million per coin. So now let's break this down by Cathie Wood. Welcome to everyone in the live chat. Make sure to say hello. Drop your comments, questions and concerns. And at the end of the show, I'll be reading it all out loud. And of course, I greatly appreciate all the support, fam. ARK Invest CEO Cathie Wood is reportedly predicting a more than 2100% increase in the total market cap of cryptos in less than seven years. Send it. Let's go. In a new interview she just did with Benzinga, Wood says that financial institutions will likely start investing heavily into Bitcoin and other digital assets, driving up the total crypto market cap. She says that one catalyst for a flood of institutional investment would be the approval of a Bitcoin ETF, better known as Exchange Traded Fund. We're not talking about futures. We're talking about spot where they hold the underlying asset, fam. The chances of an ETF approval may be more likely after Grayscale's victory against the US SEC, which will force the regulator to reconsider the digital asset manager's app to turn its Bitcoin trust into an ETF, says Wood. Quitting her here, if institutions want to move in, that's going to be a lot of incremental demand for not that much more incremental Bitcoin supply. The only way to do that is to bid the price up. And according to Benzinga, Wood predicts that the institutional investment would send the current $1.13 trillion market cap as high as $25 trillion by sometime in 2030, less than seven years out, fam. And Bitcoin would comprise more than half of that total market cap. So she's virtually predicting $12.5 million plus out of that $25 trillion market cap is going to be in the king crypto alone. Now, the veteran investor says that ARK's base case for Bitcoin is the price of roughly $650,000 per BTC by the year 2030. And a more bullish case is that of double, roughly $1.5 million. Quitting her again, it is the first global private digital rules-based monetary system the world has ever known. That's a big idea. We think the total crypto asset market in 2030 will be valued at roughly $25 trillion. And again, she's claiming that more than half of that will be entered into Bitcoin. So let's freaking go. And now let's break down some more math specifically with her predictions on how she arrives at a $1.5 million Bitcoin price. Quitting her here, I really do believe that the SEC is going to lose the grayscale case, and that's going to happen really soon. She nailed it because they obviously lost. So she is one smart cookie. She goes on to share, it could happen, it could happen quickly. As we know, the approval of Bitcoin ETFs could lead to increased demand. As many investors are aware, Bitcoin has a finite fixed limited supply of $21 million BTC with $19 million already mined. Quitting her again, if the institutions want to move in, that's going to be a lot of incremental demand for not that much more incremental supply. The institutions might not have a choice but to send the price of Bitcoin higher for ETFs for holding BTC. And she goes on to share, the only way to do that is for the bid price to go up. And what is bullish on Bitcoin is that the leading crypto can hit a valuation of $1 million in the future. In fact, as I mentioned, her base case is above $600,000, and her bullish case is in fact roughly $1.5 million, $1.48 million to be exact when she breaks down her math. Now Wednesday's ruling doesn't mean the SEC will approve the ETF. We have to keep that in mind with the court stating the grayscale app has to be reviewed. Quoting them here, the commission failed to adequately explain why it approved the listing of two Bitcoin futures ETPs, but not grayscale's proposed Bitcoin ETP. In the absence of a coherent explanation, this unlike regulatory treatment of the product is unlawful, the ruling said. So there you have it, the SEC and their rulings are unlawful. You can thank No Clarity Gary for that. The ruling could mean that more Bitcoin ETFs, which are among the highly anticipated ETFs And new to the ruling sent the price of Bitcoin, the Grayscale Bitcoin Trust and Coinbase Global, which has been signed as a partner with many of the Bitcoin ETFs. They have filed applications so much higher. Coinbase has been pumping, the Grayscale Bitcoin Trust has been pumping, MicroStrategy has been pumping. So what are your thoughts surrounding Cathie Wood and her $25 trillion market cap prediction by the year 2030 with the Bitcoin price hovering above $1 million, potentially as high as $1.48 million per coin by this date within seven years? Let me know your honest thoughts in the comments right down below. And don't forget to check out CryptoNewsAlerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"What's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again, that's cryptonewsalerts.net. With that being shared, now let's break down our market watch for the day. Very unfortunately, we started dumping right before going live. As you can see here in your screen, we got Bitcoin. Currently down almost 3%, hanging on to $26,300. We also have Ether down 2%, trading at $1,659. And checking out coinmarketcap.com, we're currently sitting at just above $1 trillion, with about $29 billion in volume in the past 24 hours. And the dominance on the decline at 48.6% for Bitcoin, with the Ether dominance at 18.9%. And checking out the top 100 crypto gainers of the past 24 hours, got Maker leading the pack, up 11%, trading at $1,150. Followed by DYDX, up 3%, trading at $2.16. Followed by IOTA, up 1.5%, trading just under $0.16. And checking out the top gainers for the past week. Unfortunately, it's a see a red, with the top loser being XDC, and the top gainer being Maker at 11%. And checking out the crypto greed and fear index, we're currently rated at 52, which is neutral. Yesterday at 49, last week at 41, and last month at 53, which is neutral. So there you have it. How many of you are currently taking advantage of this dip? How low do you think we're likely to drop? Where do you think we're likely to bounce at? Let me know your honest thoughts and comments right down below. Much respect to the entire chat. I greatly appreciate you all. Now let's dive into our Bitcoin technical analysis for the day. Check out the charts and what is currently happening within the markets. Now we were pretty steady at this level like an hour or two ago, but again, we just started dumping and I think we're currently below the 200-day moving average, just FYI. As noted here, a key moving average is Boeing, the lower timeframe price action, which continues to preserve 27,000. You can hear the thunder as it is raining here in Puerto Rico, fam. Whoa, that was loud. Anyways, Bitcoin may have retraced from its local highs of above 28, but the bears have not yet sparked the full retrace of the move. Until just recently, as we're approaching fast 26,000, quoting analyst Mustache, Bitcoin is back above the daily 200 line. A lot of people are waiting for a better entry, but I don't think that is going to happen, as many analysts are anticipating a call of 25,000 or lower, but still optimistic fellow trader Jelly, who likewise plays significance on Bitcoin holding above 27,000 share the following. This is exactly what I want to see after an impulse spike up, shallow retrace, hold at the key high timeframe level, send it higher. Now, other analysts such as Rec Capital are cautious in this current climate, as we should be, noting overnight that some of these are now acting as resistance, as outlined right here in this chart, and you can see that black line sitting at 25,894, which we're currently just above. Quoting him here, continuing on the day, we also had material indicators, like wise warning Bitcoin could come full circle, that a resurgence in bullish sentiment was required for a higher local high. So based on the signals from the proprietary trading tools, material flagged 27,760 and 24,750 as the upside and downside levels to watch respectively. So there you have it. Let's see if we bounce all the way to that 24,750 level or 25 or even 26 holds as support. We'll be keeping you posted. And with that being shared, fam, now actually some more interesting news, just coming in, Swiss bank SEBA, I'm going to call it SEBA, gets approval to launch Bitcoin and crypto services in Hong Kong, as Bitcoin game theory continues in full effect. And quoting Max Kaiser here, the new burst of religious ossity is bringing us closer to the Bitcoin singularity, fiat money, unbacked paper claims printed by trillions as the devil incarnate, replace Washington's portrait on the $1 bill with Jeffrey Epstein or Ted Bundy to see the truth.
The Bitboy Crypto Podcast
A highlight from BNB Starter Pack (Biggest Coin In Crypto?)
"What happens when you combine binary and finance? Well, you get Binance, the largest cryptocurrency exchange in the world. And say you want to invest in this behemoth native token, BNB, where you're a little confused by all the name changes and rebrands. Don't worry. I'm going to break it down all for you. This is your BNB starter pack. Let's get it. Binance was founded back in July 2017 by Shengping Zhao, who goes by CZ and co -founder Heiyi. Now, CZ acts as CEO and the face of the company, while Heiyi works as the chief marketing officer. And right around the same time, the team ICOed their native token Binance Coin, also known as BNB. For those who don't know, ICO means Initial Coin Offering and acts very similarly to an IPO in traditional finance. 2022 might have been a boring bear market, but it was an exciting time for the Binance rebranding team because they changed their name behind BNB from Binance Coin to Build & Build in an attempt to disassociate from the centralized Binance exchange from the supposedly decentralized BNB landscape. BNB has a total supply of $200 million, and during the ICO, the Binance team received 40 % of $80 million BNB, with 20 % of that vested per year so they couldn't dump on holders. Angel investors received 10%, which was $20 million BNB, and the public sale included 50%, 100 million BNB. They started the price at 15 cents and raised about $15 million, 35 % of which they put towards their platform and exchange upgrades, 50 % of which they use for brand marketing and innovation, and 15 % was reserved for emergencies. At the height of the bull run, the price skyrocketed to just over $686, with a market cap of over $100 billion. Now, the total supply of BNB started out as $202 million. However, 20 % of profits are used to buy back BNB and burn it every quarter, creating a deflationary effect. In 2017, the team committed to destroy half the total supply over time. That's 100 billion BNB that will be poof, gone. At the time of recording, we just had the 24th BNB burn, and so far over 48 million BNB had been burned, leaving 153 million circulating supply. Previously, burns were calculated based on BNB trading volume on the Binance exchange, but in December 2021, the team implemented BNB AutoBurn. BNB AutoBurn uses the BNB price as well as the blocks generated on the BNB chain each quarter to determine how many coins should be burned. It also allows users to burn lost tokens and be reimbursed by the BNB Pioneer program. The Bruno hard fork also came with the ability to burn a portion of gas fees on the BNB chain. Now, all of this sounds great and deflationary, right? Well, yes, in theory, it's a great way to maintain and pump the price, but there are a few downsides to token burns. Sometimes it can create a supply squeeze, greater transaction costs, and even make a token more centralized. But Binance seems to be aware of the centralization concerns, and to date has invested more than a billion dollars in the BNB ecosystem in hopes of alleviating those concerns. Now, let's talk a little bit about that BNB ecosystem, shall we? Binance is now referring to the entire world of BNB as the BNB chain. Think of it as a lovely umbrella for lots of cool projects. Probably not Umbrella Corp, though. The OG member of BNB chain is now called BNB Beacon Chain, previously known as Binance Chain. This chain was created in April 2019 and supported the Binance DEX, which is the decentralized exchange, which created a better user experience to other exchanges that tended to be a bit slow and clunky. It uses Golang programming language and a peer -to -peer consensus mechanism where validators maintain all the data and validate all the transactions. They also vote to produce blocks, collecting and distributing fees amongst themselves. It's BNB's version of Bitcoin or Ethereum's miners. The block size holds up to one megabyte and the blocks are created in a few seconds, holding up to several thousand transactions. BNB Beacon Chain uses a BEP -2 token standard, unlike its sister chain, BNB Smart Chain, previously known as Binance Smart Chain, which uses a BEP -20 token. We'll talk more about BNB Smart Chain in a bit. Funnily enough, BNB started out as an ERC -20 token, but when the team launched the BNB chain in 2019, they converted the token to BEP -2. Like we said, BNB loves a rebrand even more than Elon Musk. Throw your ex up. So if you've ever been confused about which token to use or how to send your BNB for trading, you're not alone. In a project that prides itself on user -friendly speed and low fees, the various token standards are the trickiest part for new users. There's BEP -2, BEP -20 and even a BEP -8 token protocol, which is designed to launch projects at a lower cost on the mini token trading page on the Binance DEX. BEP -2 is only used for BNB chain governance, staking and voting. Holders get one vote per 50 BNB average daily holdings. It can also be traded and used for transaction fees on the Binance DEX, which runs on the BNB Beacon Chain. Be careful if you're new to trading BNB. If you're using the BEP -2 token, you won't be able to transfer your BNB to Ethereum -based wallets like MetaMask. If you try, you will lose your tokens and I'll be really sad for you. I may even cry. But one thing I'm not crying about is Stake sponsoring this video. Special thanks to them. The BEP -2 token addresses typically have BNB at the beginning versus the BEP -20 token wall addresses that start with 0x like Ethereum. There are a lot of videos that go more in depth about how to convert your BNB back and forth between BEP -2 and BEP -20 token standards, but I won't go into depth here. Like I said, just be careful. So now, let's chat about the chain that uses BEP -20 token, BNB Smart Chain. BNB Beacon Chain didn't support smart contracts, and updating it would have bogged down the network, so the team created a whole new chain, BNB Smart Chain. Binance forked Ethereum code, making it faster and cheaper. If you don't know what forking is, it's the definition of imitation is the sincerest form of flattery. Basically, it means duplicating someone else's code and making some minor tweaks. Forking ETH's code made it easy for developers to move projects over to BNB Smart Chain without doing a whole lot of work. BNB Smart Chain also uses Solidity, which is the most widely used programming language for Ethereum. BNB Smart Chain allows for cross -chain asset transfers, smart contracts and EVM compatibility, which is the Ethereum virtual machine, all the while maintaining transaction fees significantly lower than Ethereum, typically less than $1. It felt like a prayer had been answered back when Ethereum fees had gone through the roof. However, because the transactions were so low and it was pretty cheap to create new tokens, it became really easy for scammers and rug pullers to create new projects with zero accountability. Other cool functions of BNB include their own cashback debit card, paying for travel on certain websites and using it across crypto land to buy virtual land or play games. Since July 2022, the average block size for BNB Smart Chain has ranged from about 50 ,000 to 26 ,000 bytes with a typical speed of a bit over 3 seconds, which spikes sometimes during heavy activity. It has a different consistency mechanism for the BNB Beacon Chain using proof of staked authority. Participants stake their BNB to become validators, and when they propose a block, they receive a transaction fee. BNB Smart Chain recently increased their validator limit from 21 to 41, which seems like an attempt at further decentralization. You need 10 ,000 BNB to become a validator, but regular users can become part of this process by choosing a validator with which to stake their BNB, and then they receive part of the rewards. The consensus method is fast, cheap and uses less energy than a proof of work model. A couple other interesting projects under the BNB Chain umbrella include Binance Launchpad and BNB Greenfield, which was launched in 2023. Launchpad is an ICO platform that allows BNB holders to get early access to new projects, and the BNB Greenfield is not actually a green field. It's a decentralized data storage system where data is stored across several computers or nodes. Large amounts of data can be stored off -chain without a centralized entity like Google or Apple Cloud. This increases security since it's harder for hackers to handicap, increases user control, freedom and privacy, and can facilitate data transfer to BNB Smart Chain to interact with decentralized apps. BNB has created such a robust ecosystem that is separate from parent company Binance that it continues to grow despite the lawsuit launched against Binance by the SEC in June of this year. Since then, BNB Smart Chain has pushed forward, releasing OP BNB, a layer 2 testnet powered by Optimism, and then in July of this year, BNB Beacon Chain completed its Zhang Hang hard fork, which added even more security to the network. The BNB Chain is growing so quickly that you will need to keep up to date on all the news if you want to invest in this project. Take this starter pack and run. Thanks for watching. Hit the like button and subscribe to the channel for more crypto news and education. DZ out.
The Charlie Kirk Show
A highlight from Ask Charlie Anything 158: Why Observe Shabbat? Is Vivek Trustworthy? Low Class Mugshots?
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S. Over 15 million this year alone. And many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Hey everybody, happy Monday. Ask Me Anything episode. Did we catch something in the R &C rules? We review it in real time. We talk about why I honor the Shabbat. I think you'll love it at the end of the episode. It could bless your life. Consider it. Maybe it's for you, maybe not. Also, Vivek for what role? Here's a role I think Vivek should take immediately. I think you'll love it. Email us freedom at charliekirk .com and subscribe to our podcast. Get involved with Turning Point USA at tpusa .com. That is tpusa .com. Start a high school chapter today. Start a college chapter today. All of that at tpusa .com. That is tpusa .com. Buckle up everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created. Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here.
"That's Why You're Single"
Let's Celebrate the Celebrity Women Paying Child Support to Men
"Was reading something the other day And I was very happy to read About all these women Celebrity women that are now Having to pay child support And or alimony To their significant others Also, I want to give a shout out To my favorite soccer player He caught that hole He caught that hole Cash rules He caught that hole He caught his slippers I believe the soccer player forgot his name I think it's Steve Harvey No, Steve Harvey Well, no Steve Hardy is going to have to pay Yeah, he made too much But she got caught cheating Ain't she rich though? No, she's not on the grand scale She had money But she was dealing with drug dealers before Oh wow, okay, okay I thought she was somebody She's somebody to somebody So what I'm talking about There's this soccer player Who dated an older Supermodel or ex -supermodel Whoever the case may be, I forgot The whole situation But she basically tried to divorce him And asked for Half of his money basically Because he's like A multi -trillion -million dollar So Guess what His mama being smart And he being smart He put all his money in his mama's name So when it was time For them to go to the court And they asking for like Oh, I want this much and this much He like, I'm broke I don't got no money And she ended up having to pay Everything she had So half of everything she got Went to him and he's sitting pretty So That's what I'm talking about right there Nice move, nice Amen That's a nice move We're just gonna run off a couple of names Just a couple that's in that situation First off, we got Sherri Shepherd Give it up Let me show you Black female Celebrity, she's an actress She gotta pay her husband? Let's see We got Britney Spears Mary J. Blige She gotta pay her I love her I kind of love Mary I love Mary too Listen, Mary J. Blige is my wife right there I love Mary That's my celebrity cheat right there I can't clap for Mary I love Mary Listen, if I can get Mary pregnant And she gotta pay me child support Clap it up If I can get Mary pregnant If I can just get Mary pregnant That's what I want We got to basket The WNBA star Candace Parker She love her man for a woman Is that true? Oh good How you gonna leave a brother like that? She gotta pay him 400 grand That's all? WNBA Even though she's like the number one She's like the gear As far as like outside the NBA WNBA making money, she up there She's like There's still a little slap of 400 grand That's a good slap on the wrist 400 grand? Not if you don't got it like that She got it We got Halle Berry on the list No, I can't clap for her No, no Not Halle Berry Halle Berry She gonna pass? She gonna pass She too fine Why she gonna pass? Cause she's too fine How do you elaborate what he just said 10 times? She's just too fine There's nothing in the world that she can ask me to do that I wouldn't do to her She's just too fine She's just too fine Hey TJ, you can't be taller like that She is too fine Alright, Madonna Hell yeah, hell yeah I owe all that money Indeed I beg and care, Madonna One of the Spice Girls Mel B Whoever she is That's a 90's baby thing That's a 90's baby thing Eddie Murphy baby? I think so I think so I think she's gonna pay her ex Steven Belafonte Eddie Yo, cash out to me $5 ,000 a month in child support and $350 ,000 legal fees Damn She gotta pay a lot Million dollars in taxes and shit Your girl Janet Jackson has made the list I got him I got him Y 'all don't know what that means No, I know what that means You know what that means? Nope, but my time How old are you? I'm only 27 15 million 15 million A month or cash out? Cash out That works, I'll take the cash out Together 9 years, she gotta pay 15 million I love Janet, I can't clap for Janet Just a couple more Jennifer Lopez is on the list I guess she's paying I'll give her a pass So you guys are solely giving these women passes and not celebrating because they look good? There's certain things you just gotta be like it's understandable No, there's certain things you could just live with Alright, so If I keep on right now and holla be resilient All my anger, whatever I was bad about It's gone Open the door Jesus, you have given me a gift Thank you I don't even need to smash How you doing, thank you I'm about to eat I can't go McDonald's, Burger King, Taco Bell I'll take the pork out of the freezer right now I don't cook, but I'll cook that day What's wrong with you? That's different Ladies, we clapping I'm sorry, but this segment and this podcast today we're talking about women that gotta pay the terms have switched I mean, we're happy because, well, you know we've been getting it men been getting it for years getting fucked in the court system especially about the guy who went to jail for five years and found out the kid wasn't even his that got me tight and then she, what did she get? what kind of terms she get? smack on the wrist the judge yelled at
VUX World
A highlight from UX Design with LLMs, with Braden Ream, CEO, Voiceflow
"All right. Hello, ladies and gentlemen, boys and girls. Welcome to VUX World. I was going to say, all right, all right, all right there. So I've kind of been slipping into and someone pointed out that it's a Matthew McConaughey quote. And so for some reason I just slip in. All right, all right, all right. Hello, welcome. But hello and welcome to VUX World. Today you'll notice I am wearing my trusty Voiceflow cap because is today Voiceflow CEO Braden Ream's third appearance on VUX World. We go way back and today is going to be an epic conversation. We're going to be discussing large language models and the future of conversation design and the future of AI application design and the future of Voiceflow. I'm looking forward to that coming up in just one minute. But before that, I need to give a shout out to our presenting sponsor today, Tideo. Tideo is a conversational AI platform that specializes in catering and providing for small to medium sized retailers. So if you are a retailer, maybe you're running on something like Spotify, maybe you're running on something else, and you want to look at ways in which you can utilize artificial intelligence, then you should check out Tideo. It's got a live chat platform plus conversational AI capabilities. It's got a lot of pre -built intents, pre -built conversations around order check -in, product availability, shipping status, returns, all that kind of stuff. And it is answering somewhere, what is the figure? It's four out of five customer questions it's answering successfully. So if you want to benefit from artificial intelligence, but you don't want to put in a whole load of groundwork, time and effort, and you want to get to market a little bit faster, then you should check out Tideo. You can, if you want to, go to tideo .com forward slash V -U -X and there you will find a promo code where you will save 20 % if you were to go and join today. That is Tideo, T -I -D -I -O .com forward slash V -U -X. Thank you, Tideo, for partnering and sponsoring V -U -X World. Now the other thing we definitely need to discuss is, it's coming around so thick and fast, I can't believe how fast it's coming around. It is the Voice and AI Summit in September. It's at the beginning of September from the 7th, sorry, from the 6th through the 8th, and it is going to be absolutely immense. We are going to be in Washington, D .C. for the Voice and AI Summit. For those of you who are familiar with the Voice Summit, you'll be familiar with the event. It's been slightly rebranded, it's now focusing more on generative AI, large language models, that kind of stuff. Last year we had a track there, we had a stage, it was absolutely immense. We were focusing on enterprise application of AI, and today, not today, but in two weeks' time, we'll be doing the exact same thing. The V -U -X stage will be back and we'll be looking at how large enterprises, including some large banks, including some big insurance providers, including some big healthcare companies, how are they utilizing this emerging technology in the enterprise today? And if you were to do something similar, how can you do that? Effectively, responsibly, and with a high degree of quality. Now, speaking, you can go to voiceand .ai, the website is, and you can get your tickets to find out more there. So speaking about utilizing large language models effectively, let's welcome on today's guest, Braden Rehm. Voiceflow have just raised another round of funding, another $15 million to put into growing and scaling the platform, and so I'm delighted for Braden to join me for the third time on V -U -X World. Welcome. Well, welcome myself. Yeah, excited to be back, third time. Wow, Patrick. And now I'm wearing the Voiceflow hat, which I was lovingly given at UNPERS in July. Thank you for partnering with us for that event. It was absolutely fantastic to see you and the team over here in the UK, and to support the first in -person conversation design conference in the world, which was absolutely fantastic. And now I owe you one of these for your hat trick. Your third appearance on V -U -X World gets you the yellow V -U -X cap. Very exclusive merch, this, Braden. So I'll be bringing this across the pond to Washington to present to you at the Voice and AI Summit. So there you go. Love it. Yeah, no, it was an awesome conference. Thank you for putting on UNPERS. We're excited to be back next year. Definitely, definitely. It was really good, actually. I don't want to overly plug our own events and stuff like that, but it did have a very nice communal feel about it. It was really great content, good vibes, good afterparties, which are also very important. And yeah, looking forward to it. Can't wait to have you along next year. We have some people tuning in. We've got Paul Cutzinger. Shout out to Paul. He says, hello, party people. Jose Burgos, how are you from Austin, Texas? Hello, how are you from Austin? There you go. Hi from Portugal. Elson, welcome from Portugal. We are truly global -ridden right now.
DerrickTalk
A highlight from "So You Sue The People That Took You In When You Were Homeless ? Michael Oher Should Be Ashamed
"Welcome to another edition of Convo Over Cigars. I'm your host, Derrick Andre Philemon. Let's talk about a story that is gaining a lot of attention. It's gaining a lot of traction, and I can see why. You guys probably remember the movie from 2009. It was an Oscar -winning film. It was called The Blind Side. It was a great football movie. I like football movies. I remember, I think it was Goldie Hawn. She played in the movie Wild Cats. I always loved that movie. But this particular movie was really, really good, and it was based on, a true story. This was about a rich family who basically adopted a young African -American man who was basically going through it. He was a homeless teen who was kind of being shifted through the school system and stuff like that. They basically adopted this kid, and it seemed like a great storyline. And I was like, why now in 2023 is this happening? It seems like now we're going to have to go back to the early 2000s and early 2000s and early 2000s and early 2000s. So, back in 2009, a movie was released called The Blind Side. It was the autobiographical story of a young man by the name of Michael Orr, played by Quentin, is it Aaron? Orr was a homeless black teen who was basically, he had drifted in and out of the school system for years. Then Leanne Tuohy, take in this young African -American man. They become his legal guardians. His tremendous size and protective instincts make him a formidable force on the football field. That's kind of like a synopsis of the movie, what it was about. Also with the help of his new family and devoted tutor, he realizes his potential as a student and football player. Now fast forward to 2023, Orr, a former Baltimore Ravens and Carolina Panthers tackle, alleged in a lawsuit that he never actually was adopted by the Tuohy family, not legally, as the blockbuster movie has basically shown. Orr claims he gave away the rights to his life story to 20th Century Fox back in 2007 without any payment whatsoever, and that he was missing profits from the John Lee Hancock 2009 film, which actually grows something like $309 million at the worldwide box office. And some are calling on actress Sandra Bullock, who portrayed Leanne Tuohy in the movie, which earned her an Academy Award to actually give back her Oscar. That's kind of a newer development in the story. So to be clear, Orr is saying that he was never legally adopted by this very affluent family, but they actually tricked him into a conservatorship and pocketed royalties from the book and the film, the movie, you know, affiliated with the movie Blind Side. This conservatorship, according to Sean Tuohy and his lawyer, Randy Fishman, was designed to make Orr a part of the family and also clear his path to Ole Miss University. Now, the NCAA would not have allowed him to be eligible immediately for the Rebels without it because the Tuohys were boosters of the program. Now, Michael Orr has claimed in court papers that the Tuohys tricked him into signing over his legal authority to use his name in business deals after he turned 18. The 37 -year -old claims they used their conservatorship to make millions in royalties from the 2009 film. The family's position is that Orr is basically trying to shake them down for about 15 million. He's basically trying to extort them out of money. That's what it looks like here. Why now? The timing is a little bit off. You wait until all these years later to basically say give me 15 million or I'm gonna basically throw dirt at your name. I don't know. It just seems to me that Michael Orr is in need of money and he's actually, this family did a great thing by adopting this kid and opening doors for him, obviously. And the thing that's really crazy about this story, the Tuohy family, these guys are extremely wealthy. They were wealthy before they adopted this young African -American kid. Very wealthy people and I'm not, I didn't necessarily look into their background, but they have tons of money. Multi -millionaire socialite type of people. So to come back all these years and basically say they use my likeness, my name to basically promote and endorse business deals and that kind of thing, I don't know if I'm buying it. I don't know if I'm buying it. I'm kind of waiting because I really don't know about this story. I've read so many different things. It could be true. Maybe they did swindle this kid. Maybe they did take advantage of his size and knowing that he would be a great athlete and you know, profit off of his name. I don't know. But my opinion, Michael Orr is just looking for a payday. That's my opinion. That's what I think. I'm going to basically be keeping an ear on these developments and we will do a part two on Convo Over Cigars. I'm your host, Derrick Andre Flemming. Everybody have a fantastic Saturday. Take care guys.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Jerry Dunleavy and James Harrison on their book "Kabul"
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S. Over 15 million this year alone. And many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Welcome to today's podcast, sponsored by Hillsdale College, all things Hillsdale, hillsdale .edu. I encourage you to take advantage of the many free online courses there. And of course, listen to the Hillsdale dialogues, all of them at hughforhillsdale .com or just Google Apple, iTunes, and Hillsdale. We want to make sure that we continue to make good on any American citizens who happen to be in Afghanistan and who wish to depart. And as you know, we brought back virtually all of the American citizens who said they wanted to depart.
The Eric Metaxas Show
A highlight from Dick Morris
"Welcome to The Eric Metaxas Show. It's the show featuring Go -Go the Chimp. Nothing like a chimp to liven up the radio show. Easy there. Go, go, go, go, go, go, go, go. Hey there, folks. Welcome to the show. I planned to have as my guest today our friend Dick Morris, but I did not plan to have Dick Morris here following what happened yesterday. I'm very glad that after this fourth indictment of President Trump, I have someone that I trust to ask about it. Dick Morris, welcome. Help us make sense of what in the world is happening in the United States of America at this time. Well, we're really in danger of becoming a judocracy as opposed to a democracy, government run by judges. I would say the justice system, but it's not. It's individual judges working for the administration. Biden has decided he can't defeat Trump in the election, so he's going to defeat him in the courts. But first of all, do you even think that Biden is running? My theory would be that we have people behind the scenes in the Democratic Party who Trump know that is their worst nightmare, and they will do and are doing anything to stop him from running. Make no mistake. This is run by Joe Biden. He's not addled. I am surprised, honestly, to hear you say that. I would think that behind the scenes it's Obama, it's anybody but Biden. We need to change our image of Biden. He's mean, he's nasty, he's surly, and he's dictatorial. He knows and he desperately needs this job, not for the prestige but for the money. Biden's net worth when he entered the presidency, the year after he left the vice presidency, his net worth was $27 ,000. He never made any money. He served for 36 years in the Senate, was the poorest senator. Then when he became vice president, he made a little more. And then in 2017, when he left the vice presidency, he made a total killing. He made $15 million in one year. And God knows how much more that he didn't declare. And most of it was bribery. And he needs to continue that. He needs two things. He needs a continuous flow of bribes. And he also needs to do what the Chinese want, so they will cover it up for him and not turn him in. And I think that that's what you're looking at here. It's no surprise really. The issue is what will happen. I think the other point that's worth making here is that this indictment breaks entirely new grounds because what happened was that in 2018, Stacey Abrams ran for governor, Democrat. And she came very close to winning against Kemp. But there were a lot of votes that she claims were suppressed, blacks who couldn't vote. So she sued. And the litigation went on for two years. And finally, the state settled. And they came up with a consent decree. And the key thing in the consent decree was that they would not scrutinize signatures very thoroughly of people who were absentee or voting by mail. The statute required for two verifications. And they cut it back to one. And they sharply limited the grounds for where signature could be tossed out. And under those new rules, they conducted the election of 2020. And when Trump lost the state, he realized there was a fraud involved. And he sent investigators down to check it out, Rudy Giuliani, Sidney Powell, and a bunch of others. And now they are all being indicted because they dared to question the results and to audit the results, really.
The Charlie Kirk Show
A highlight from Ask Charlie Anything 156: Criminals Who Classical Music? Making Kids Reject Marxism?
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S. Over 15 million this year alone. And many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Hey everybody, happy Monday! Why does classical music bother criminals so much? We also talk about Marxism in three easy steps and why I'm not that excited about the Elon Musk -Mark Zuckerberg fight. Email us freedom at charliekirk .com, get involved with Turning Point USA at tpusa .com, start a high school or college chapter today at tpusa .com, get involved in our student movement that is helping make America a better place for your kids or grandkids. That is tpusa .com, tpusa .com. You can always email me your thoughts, freedom at charliekirk .com. Buckle up everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here.
The Charlie Kirk Show
A highlight from How Normal Americans can Have Extraordinary Impact on Campus with Megyn Kelly
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the US, over 15 million this year alone, and many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated US -based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Hey everybody, happy Monday. An exclusive conversation I had with Turning Point USA chapter leaders and the great Megyn Kelly. This conversation will blow your mind. I think you'll really enjoy it. You can email me your thoughts. There's always freedom at charliekirk .com and subscribe to our podcast by opening up your podcast app and typing in Charlie Kirk Show. That's Charlie Kirk Show. By opening up your podcast app, you can get involved with Turning Point at USA tpusa .com. That is tpusa .com. Start a high school or college chapter today at tpusa .com. Megyn Kelly, Turning Point USA chapter members, buckle up. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"So yeah, she made the rounds on Squawkbox, quitting her here. Our base case Bitcoin price is 600 ,000 plus. And our bulk case is more than 1 million by 2030. In fact, it's 1 .5 million or 1 .48 to be exact. She says we believe that all of our funds, which have been hurt badly by interest rates going up, are going to benefit by the deflationary ramifications. And she also recently shared that the more uncertainty and volatility that there is in this global economy, the more our confidence increases in Bitcoin. So there you have it, she is still more bullish than ever. She's also been doubling down on her investments on Coinbase after the news of the SEC lawsuit against her. So she's going all out right now. In fact, she says Bitcoin can be an antidote to inflation and counterparty risks. We all know that to be true. And this is the other interview she did just recently on Binance Coinbase and the legal woes. And she is standing by her prediction. So we're a little disappointed in Wood though, in September of 2021. This is according to the author of this article, FYI. She first went on public with a lofty price prediction. This is the first time she shared it of 500 ,000 per Bitcoin. Then in January of 2022, roughly what? Six months later, she made her first Bitcoin to a million dollar prediction by 2030. And by now, we would have hoped for another doubling down on a two million prediction with some random timeframe. But nah, a bit like the feds likely to do in June, she's hit the pause button. Still crypto -hopium crack pike addicts won't be too disappointed with her million dollar price prediction within seven years. In fact, she even breaks down the math on why that is to likely happen. I think it's a matter of time. But let me know what you guys think. They're not all in the same bucket. The CEO noted emphasizing that she believes that the Binance situation in the US is far more serious than
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"June 2023 has proven to be a tumultuous one for crypto exchanges in America, with the SEC setting sights on Binance and Coinbase back -to -back within 24 hours, starting legal proceedings against both the exchanges for a myriad of alleged security law violations. And the wider crypto ecosystem has hit out at the SEC's actions as a US regulatory crackdown in the industry seems to tighten some eight months from the collapse of FTX. So there you have it. Like I said, nothing is safe right now. So to be safe, remove your crypto from the exchanges or forever hold your peace as not your keys, not your coins. I know you've heard that one before, especially here on the channel, or as I like to say, not your keys, not your cheese. And now the latest from the SEC chair, Mr. No Clarity Gary, better known as Gary Gensler, calling us hucksters. I've never even heard this term. I had to look it up, which I find hilarious. But nonetheless, in the June 8th speech of the Piper -Standler Global Exchange FinTech Conference, US SEC Commissioner Gary Gensler compared the current crypto market to the 1920s US stock market, saying that it's full of hucksters, fraudsters, and Ponzi schemes. Just as Congress cleaned up the stock market by enacting security laws, the current SEC can also clean up the crypto market by applying these laws, he argued. How many of you watched the clip of Gensler saying that? Let me know in the comments below. It's actually right here, taken off of crypto Twitter. Now in the talk, Gensler praised the Securities Act of 1933 and Securities Exchange Act of 1934, almost fricking 100 years ago, folks. That's like literally 90 years out, claiming that some of these laws allow the US security markets to thrive over the next 88 years. He argued that the crypto security markets of today should also benefit from these laws and that they are not less deserving of the protections the laws provide. I would say different time, different world, 90 years later.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Deposits and withdrawals functioning as normal. Cointelegraph reported on the struggles of Binance US, which they were having securing banking partners back in April. And it's like everything is coming full circle. First it was FTX. Now they're attacking Binance. Now FTX never had a formal lawsuit by the SEC. So why does Binance and Coinbase both have these very interesting lawsuits against them when obviously the baddest actor in the space was Scambankman Fried? He's not only not in jail, there was no lawsuits. So what in the world is going on? It's very fishy and very interesting at the same time. Now, for those of you who have crypto at crypto .com, here's another warning, another alert you should be aware of. Check this out. Crypto .com will no longer serve institutional clients in the US after announcing the suspension of the service from June 21st. The Singapore -based crypto exchange cited limited demand from institutional customers as a primary reason for the move, which has been exasperated by testing prevailing market conditions. A statement from crypto .com noted the platform's institutional users were given advance notice of the decision to suspend the service. Crypto .com's retail mobile application and platform remains fully operational at this time in the United States. But what's to tell of the future, right? American retail users still have access to CFTC -regulated crypto derivatives. Interesting that they have access to derivatives trading as well as the up -down options offering, which allow users to open long and short trading positions on future movements of various cryptos. Crypto .com remains open to a potential relaunch of its institutional exchange in the United States. While it closes the curtain on the US institutional offering, crypto .com recently received an official major payment institutional license for digital payment token services by the Monetary Authority of Singapore, allowing it to offer its services in the country. June 2023 has proven to be a tumultuous one for crypto exchanges in America, with the SEC setting sights on Binance and Coinbase back -to -back within 24 hours, starting legal
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$1.5 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"The fiat withdrawal channels as early as June 13th, which was that like Monday or Tuesday. Now on June 9th, Binance US announced that it was forced to take action amid extremely aggressive and intimidating tactics from the US Securities and Exchange Commission. The firm noted in an effort to protect its customers and platform of suspended USD deposits. And furthermore, Binance US is notifying customers that our banking partners are preparing to pause fiat USD withdrawal channels as early as June 13th, 2023, as they announced here on crypto Twitter. The company added it plans to transition to a crypto -only exchange, but maintain a one -to -one ratio for customer assets. So let's go. The notice also cautioned that any downtime in processing withdrawals going forward may be the result of elevated volumes and weekend bank closures. Talk about a crypto exchange run, absolutely. So again, get your crypto off the exchanges ASAP. Trading, staking, deposits, and withdrawals in crypto remain fully operational, it confirmed. And as a result of the SEC's ideological campaign against the American digital asset industry, Binance US and its banking partners have faced increasing challenges. Those banking partners have signaled their intent to sever fiat onramps on the exchange. Now, US deposit of dollars will be suspended as of June 9th, which is today. And USD trading pairs will be delisted next week, the firm stated. However, it will continue to support Tether USDT trading pairs. And it stated that any USD left on the exchange might be converted into a stablecoin that could be withdrawn on change. Now, Binance USD listed eight Bitcoin pairs and two BUSD pairs on June 8th, yesterday, noting that the OTC trading portal services were paused. Bitcoin traded at a premium on the US exchange back in early May. The SEC issued an emergency order on June 6th to freeze the assets of Binance US. The following day, the firm reassured customers that assets remain safe, adding that the platform continues to be fully operational with deposits and withdrawals functioning as normal. Cointelegraph reported on the struggles of Binance US, which they were having securing banking partners back in April.
The Breakdown
Binance Accused of Co-Mingling Customer Funds With Company Revenue
"Hello friends. Well, this morning as I was prepping the show, news broke from Reuters. Walter Bloomberg on Twitter said, the world's largest cryptocurrency exchange Binance co -mingled customer funds with company revenue in 2020 and 2021. In breach of U .S. financial rules that require customer money to be keep separate, three sources familiar with the matter told Reuters. So let's go through this, let's try to get a sense of how serious this is, let's see if there is another Sam -type situation on our hands. First, let's talk the accusation. Well, it's pretty much right there in the headline, Binance co -mingling customer funds with company revenue in 2020 and 2021, the sourcing, three sources familiar with the matter and Reuters, but let's try to get a few more details. From the Reuters piece, quote, one of the sources, a person with direct knowledge of Binance Group's finances, said the sums ran into billions of dollars and co -mingling happened almost daily in accounts the exchange held at U .S. lender Silvergate Bank. Reuters couldn't independently verify the figures or the frequency, but the news agency reviewed a bank record showing that on February 10th, 2021, Binance mixed $20 million from a corporate account with $15 million from an account that received customer money. Reuters found no evidence that Binance client monies were lost or taken. So there's a bunch that's important here. One is that Reuters couldn't verify the figures in total and that they really only had this one particular bank record showing a mixing. Now, what did Binance say? Well, in a statement to Reuters, they obviously denied this. Spokesperson Brad Jaff said, these accounts were not used to accept user deposits. They were used to facilitate user purchases. There was no co -mingling at any time because these are 100 % corporate accounts. Reuters goes on.
WTOP
"$1.5 million" Discussed on WTOP
"Check his pulse and everything, make sure he's okay. He's already gone at this point. The shootings took place at multiple sites the suspect's ex-wife is one of the victims. In Memphis, the 5 ex police officers charged in the fatal beating of Tyree Nichols all pled not guilty. His mother, rovan wells. I want each and every one of those police officers. To be able to look me in the face, they haven't done that yet. They couldn't even do that today. They didn't even have the courage. The next court date is set for May 1st. The man who allegedly shot two Jewish men outside synagogues in LA has been federally indicted. Martin estradas with the U.S. attorney's office. It is critical that we stand up as a community and say no to hate. 28 year old Jamie trends charged with two hate crime counts he pleaded not guilty. Those who live near the trained realm site in east Palestine, Ohio, aren't feeling too safe breathing the air and drinking the water there. CBS roxanna saberi spoke to a resident who's feeling uneasy. She fears her water and air are now contaminated, and is joined one of several class action lawsuits against Norfolk Southern. You're showering here? Yes. Are you drinking the water? No. The EPA administrator visited the area and assured residents the water is safe to drink. Ohio's governor delivered the same message. Those 5 wells of all come back clean. And more problems for Norfolk Southern on Thursday, another one of the company's trains derailed outside of Detroit. There were hazardous materials on one of the cars, but there were no leaks or spills. All companies in trouble for using kids for some pretty dangerous work in its meatpacking plans. CBS is Steve futterman. The company packers sanitation services was accused of employing more than a hundred children ages 13 to 17 at meatpacking plants in 8 states. The company has paid a $1.5 million fine and this hired a law firm to review hiring policies. Our Jim Crow solo with some not so good news for the 22 million people who live in Florida. The cost of most homeowners insurance policies in Florida have sort a 100% over the past three years, and the rate increases aren't stopping. The insurance industry and various state officials expect premiums to go up another 50% or more in June when a new hurricane season begins. 2023 NBA all star weekend continues in Utah with the skills challenge three point contest and slam dunk competition those all go down today. This is CBS News
WBUR
"$1.5 million" Discussed on WBUR
"Are details that w bur dot org slash cars. Coming up at four o'clock on w B. U R It's all things considered in the forecast all clear overnight. It'll be cooler with lows in the mid to upper fifties right now. 78 degrees in Boston. We're funded by you, our listeners by the way. Don't miss Virgil Abalos. Groundbreaking show figures of speech featuring fashion, architecture and design. Closes Sept. 26th I see a boston dot org Brookline Bank or financial Solutions are crafted to the needs of your business and delivered with a hands on approach committed to your success. Learn more at Brooklyn bank dot com. And spring. Well, a nonprofit providing in home help home delivered meals and many other services for aging adults, regardless of income level. Learn more at spring well dot com All businesses in Massachusetts employ more than 1.5 million people here, and some of those employers are now going to have to require their employees to be vaccinated or to test negative for Covid. Once a week here is President Joe Biden announcing a major Set of new Covid 19 vaccination mandates. At the end of last week. I'm announcing that the Department of Labor is developing an emergency rule to require all employers. With 100 or more employees. That together employ over 80 million workers to ensure their workforces. Are fully.
WCBM 680 AM
"$1.5 million" Discussed on WCBM 680 AM
"Thanks again for that opportunity for our listeners today, and this is is truly a great opportunity because It is a rare actionable opportunity that our listeners can take advantage of today to start making an impact. On their taxes now, but also more importantly, in the future when we're most vulnerable going into are already in retirement. Yeah. You know, it's something that Mike and I do every day. And the story that I love to tell is is the story of a client that came to me. God, it must be 10 years now, I would say. She came to me. I was doing her taxes. And she was she was about 58 59. I said to her I said, Bonnie, you know you have all this money. You've worked your entire life for two price. She was an analyst for T. Rowe Price. You know you've worked all your life for them. You have a lot of money in T. Rowe Price stock. You have a lot of money in your Roth IRA because you did a great job of putting money away And there you have money in your brokerage account. And then you have all this money inside of your 41 K and for her. She had about $1.5 million worth of assets, and I said, You know it. When do you think you want to attach? Because I don't think I ever really can retire. And so what we did is we sat down and we ran the numbers and we said, you know, Guess what? Congratulations. You can retire tomorrow if you want, And I think she ended up working for like another six or seven months just to train her replacement, But You know what we did with her? Is she wanted to have 100 and $10,000 a year. To spend in retirement. And when I told her that she could retire, she was running the numbers herself. And she figured out that you know if I if with my social Security and all these accounts, if if I just take out about 150 $160,000 a year kv applicable taxes, I'll have the $110,000 a year that I want, so she was taking out. In her mind. She was going to take out 150 to $160,000 of income. Just to get that money. So then I said to her, I said, Bonnie, let's rethink where this money is coming from, because you have money in all these different buckets, And so we sat down and we went through the accounts. We went through the buckets that she had the money and we said, All right, so security is going to be You know, $33,000 a year we're going to take out another $25,000 a year from your IRA. Another 30,000 from here Another 40,000 years. I don't remember really what the numbers were, but what we were doing was layering her income from various sources to bring her up. To certain thresholds within her tax return, really taking advantage of how in the tax law was written, and so what we came up with was a strategy where she would have $410,000 a year. And now because of proper tax planning. She has $110,000 a year of income, and I think that her total tax bill between the Fed and state of Maryland last year was 958. Dollars. Wow! Combine Wow. That is the true benefit of working with an advisor who understands that tax ramifications of everything that you're doing, because the simple explanation for me would have been to say, Oh, yeah, that's just retire. We'll take all the money out of your IRA. First, you're going to pay a huge All this money and taxes, But we'll just pre pay it and then we'll kind of move down the line because that's what most advisors do Most advisors don't think about the tax ramifications. Of how you get your money. That is the most important thing in retirement is being aware of the taxes. You want to find out more about how we can put these plans. In place for you how we can potentially get you down to that 0% tax bracket..
WBZ NewsRadio 1030
"$1.5 million" Discussed on WBZ NewsRadio 1030
"Good to go from Grafton, the Brighton north of the city, looking at 93 95 out of New Hampshire light traffic here as well. David struck Folino WBZ traffic on the threes, acting with the forecast with Dean DeVore. Maybe a passing shower this morning. If you're along the water better chance of showers later on today, if you are inland, better chance that you stay dry high to about 80 Today clears out overnight tonight will drop down to 64. Then back to work tomorrow, some great weather sunshine, nice and a high to about 80 right now in Boston, with some Clouds and some sun. We're at 71 Degrees live local and fiercely independent. This is WBC news radio. Good morning and Happy Labor Day. I'm Charlie Bergeron. Here are the five things you need to know. At 8 45. It is Labor Day and the day that we pay tribute to the contributions and the achievements of the American worker Boston's preliminary mayoral election just eight days away. Boston's acting mayor Kim Jamie, leaves the fundraising race with over $1.5 million raised since January. Covid 19 continuing to wreak havoc with the Red Sox roster 11 players on the Covid injured list Now, they added two more yesterday, Nick Bavetta and Danny Santana. And a hearing set for he can heal this week on ways of dealing with the recent string of cyberattacks in Massachusetts and around the country back to our top story on.
News 96.5 WDBO
"$1.5 million" Discussed on News 96.5 WDBO
"It just literally walked me through the process. Like yes, Fortunately, it was not me that designed that system. I'm still using a pencil and an eraser to write down notes over here with me. I have my all time favorite friend, Dear Friend of mine business partner, Mind cleave Lovely. Loveland Properties and Cleve, You know, we talked a little bit about the market how it's doing really well, But things have slowed slightly, but slowing slightly is still way better than it's been in 10 years. Well, if you know that would be like saying you're you're you're flying at Mach speed, and you just dropped down slightly under Mach speed. So we're doing amazing, like I know that since May, houses increased increased by 18%. All we need is 3% per year to make millions in real estate, right? And you and I preach that on our wealth building class. You only need 3%. You don't need 27% were every one of you that bought property. Are sitting on a gold mine right now. You did the right thing. Now let's convince our families to do the right thing our friends to do the right thing, and then let's get him into a house as quickly as we possibly can. Speaking of homes we talked about Why some homes sell and wide. Some homes don't sell. What are you looking at Right now, like, are you able to keep any listings at all? Well, I just usually on on on our show we do on Saturday. I'll advertise about eight or 10 listings. I only have time for that, and that's about half and I told my sellers, Okay, I'll get you on the radio every other weekend. Well lately, everything's under contract so I might have two or three like I brought six with me today. Four of them went under contract in the last two days since I printed this list, so I've got a great condo in Maitland for 400 actually just adjusted the price 412,003 bedroom 2.5 condo right on the border of Maitland Winter Park at the moorings. Um, and it's a three bedroom 2.5 bath 1800 Square footer. And it's a waterfront community. Um, one car garage, beautiful little location, a waterfront. That's all that actually the northernmost chain of lakes there for winter Park community. This condom is, um, the old A house used to be this, uh, others across the street down down the street a little bit, But this is this community's waterfront. Not this unit. But this unit is just gorgeous Wood floors move right in great place. Um, this customer actually helped about seven years ago. She downsize from a big home and living here and I'm just going to live with her family 412,000 for that. They're selling right around there in this neighborhood, and then I've got one. This is out in the country and we talked about this, Bruce. Remember when if you wanted to Four or five acres, and just want to get out in the country not having away or somebody telling you what color you know. Pull the weeds in your yard and change your curtains. This right here. Remember when those used to be in the threes and force? Well, this is a two acre property. No H o a Four bedrooms, three bath 3000 Square foot home, and it's got about a 40 ft screen porch along the back size house single house on two acres. Beautifully done the guy selling it owns a fence company so gorgeous wrought iron fence around the property. It's gated and listed for 640,000. So just a beautiful property. Big, big open floor plan Plus a den, um, beautiful, big, big bedroom size. It was custom built when you walk in. This is different from other homes you've seen but enormous kitchen would like a 20 ft Island in the kitchen. Just a great setup for 640,000. I've got those two listings. And just if you want to, If you want to know anything about those you're trying to find a house. I just talked to somebody put in about 20 offers. And when I talked about the offers they were putting in. They weren't done right. They weren't fast tracked with Bruce. We got him a house. Call me at 40735281183528118. And you know on that property, you look at that property at 640,000. You could still do a conventional loan about 10%. Well, yeah. If you're at 640,000 at 90% loan to value your at 5 76 you got to be it at 5 43. So you could be at about 12% down on a two acres $600,000 property and you can get if you've got good credit, and I know you like to ask me about interest rates. About where they're running. Just having you know, Here's the thing. And here's why I don't talk about interest rates as much as some companies do on the air. First of all, I think that most companies mislead people. I think that our and I talk about this a little bit. I think that pre 2010. My industry was just out of control. I think there were so many people that got in it. The banks were selling bad loans. People didn't really have to qualify to get him. It was bad. It did a lot of bad things. But post 2010. A lot of those lenders just got shut down. They were out of business. They couldn't survive right? In the mortgage industry, straighten up and really behave themselves. Yeah, it's getting to go back to that direction. I'm seeing a lot of bad behavior, and my customers are paying for it because they're getting persuaded to do things that I wouldn't convince them because well, I don't like people to do is you know if you've got a lot of debt And you can re fi and your house has gone up $80,000 in value in two years, and you can pull it out for him. Bruce and pull out 50 grand to pay off all their credit cards will have this, and if they pay the same payment, they'll pay their house off sooner. That's one thing. But one thing is that one company that did that for them if they did answer a TV ad or clicked on something on the Internet. That same company will call him again six months later saying, Oh, we can do it again, and that's called churning and and it's illegal to do in the insurance industry. It's illegal for a lender to do that, with their own. Portfolio of business. In other words, if I've got alone and I'm holding that mortgage for you, I can't churn your loan. I can't turn it unless it makes significant benefit to you. And there is a formula that lenders have to do to be able to determine whether it's the right thing for you to do, And there's a legal formula that we have to do. But what happens is you get an outside company that soliciting you. They're not churning the lung because they don't have it. They'll convince you to do something with your loan. That sounds good when you say it fast. And they might even drop your payment a little bit. They might even lower your interest rate. But it's not always the right thing to do. You've got to have somebody in this industry that you can trust because I'm seeing a lot of shenanigans going on. And I don't like it for my own industry. You can call me at 40776 33 13. You can visit my website that we bring you home dot com..
WMAL 630AM
"$1.5 million" Discussed on WMAL 630AM
"Foreign lawyer Michael Abernathy is a world class come back. He just got sentenced to 2.5 years in jail yesterday, and this was all for his attempts to extort Nike. It's insane. I mean, just to give you a sense of the scale of his extortion scheme. He did he He had a basketball coach, uh he was representing And he claimed that the coach had damaging information about Nike. So in return for not burning Nike to the ground, he demanded $1.5 million to be given to his client 1.5 million for his client. And then 15 to 25 million to be given to Michael Levine, Adi Now, how could you even justify that again? You're representing a client. How could you say that? You are $25 million. He said he wanted it for himself to conduct an audit of Nike. Give me 25 million bucks. I'll audit your company make this go away for you. The U. S Attorney Jeff Berman described Michael Avenue at his behavior, and all of this is quote an old fashioned shakedown. And a vanity yesterday in tears, saying he lost his way I betrayed my values, my friends, my family myself. I betray my profession is crying. I became driven by the things that don't matter in life, he said. He said, I've learned that all the fame, notoriety and money in the world is meaningless TV and Twitter mean nothing. He said. The judge accused him of being completely drunk on power. And said that he was operating as if he was someone the law and the rules don't apply to that. They apply to everybody else, and that's true. Of course he was, but you know I've been thinking about this. It's like, okay. How did he get so drunk on power? Well, it was because of this type of slobbering, disgusting, obsequious coverage that he got from the American news media. He's Donald Trump's worst nightmare. Michael Joining us once again is Michael Aven audience bringing Michael Michael Michael Abernathy. Michael Abenaki. Thank you very much. He's out there. Saving the country. Jon Meacham says he may be the savior of the Republic. You are something of a folk hero now. Michael Aven, Audie an apology I've been saying enough for writing, Michael, I've seen you everywhere. What do you like to say? I was wrong, Brother. You have a lot to say. I am just dying to hear what you think people all like you and the only person right here. Donald Trump fears more than Robert Miller. We think you guys are the tip of the spear. That's going to take down Donald Trump. Michael Abernathy is a beast. Okay, That's true, and he's a beast. He's a busy I handed to her hand in for Michaela Vonette. He has a bigger calling here that being a lawyer is minimal compared to what he's doing. No one has talked tougher. Directly to Donald Trump on TV. Mike 11 80 Wait, What is superlative? No one has ever talked tougher to Donald Trump directly to his face via television. Donald Trump is afraid to mention his name. That's fascinating. Donald Trump is terrified of Michael Lebanon. Now this trump a run for his money than everybody else. Michael amenities existential threat to the Trump presidency. Democrats could learn something for you. You are messing with trump a lot more than they are. He has no doubt created. Sheer had And Donald Trump's very fragile mind. Michael Abenaki. Just what would your ego look like? If the entire it's like every single broadcaster in America was saying things like, you know? You're the greatest thing that's ever happened to anybody. You're just you're just incredible. Every single.
NewsRadio WIOD
"$1.5 million" Discussed on NewsRadio WIOD
"Fresh whole foods left inside their garages back to you, Ryan. Thank you. Jeff Ryan Gorman in for Jimmy several Oh, here on South Florida's first news. Let's get to some trending stories. And I saw this headline in the Daily Mail and boy, it certainly stood out. Headline is terrifying. New species of spider discovered in Miami That'll get you to click on the story. Scientists have found a new species of spider in Miami that looks like a small, shiny black torrential, A And has venom that induces painful stings. Just like a bait. It's the last thing we need right about now. It's called the Pine Rocklin Trapdoor Spider. It was first found by a zookeeper in the grounds of zoo Miami. You take a look at it. It looks just like a to ransom, for the most part, a little less hairy. I think that torrential is have more. Hair. It's about the size of Ah £1 coin that says, and the female is about 2 to 3 times larger than the male. They could live up to 20 years. These close ups. They're scary, though it might be the size of a quarter or whatever it is, but the close of sir frightening I now zoo Miami staff found the specimen back in 2012. In the pine Rockland forest that surrounds the zoo, It says. But for whatever reason, I don't know why the stories coming out now I guess it I don't know. Going through here? It doesn't really say why this Is like a big story now, when it was found back in 2012, I guess they had to figure out I'm assuming if it was Species that they had already known about and and now they've discovered that it was. It's a new species, but Don't look don't look very friendly. No, no, not even remotely. So in the midst of the pandemic and everything else that we're dealing with. Now we have ah, terrifying new species of venomous spider here in Miami that can live for down in West Kendall near the zoo. My watch where you step, keeping an eye out for that, Uh And then in let me go over the Palm Beach County of Beachgoer recently stumbled upon £65 of cocaine. That washed ashore. Customs and border protection officials said The drugs were found washed up along the shoreline over the weekend. The cocaine's worth an estimated $1.5 million. The incident remains under investigation. And if you look at the pictures of it, it's clearly marked. So it's like a certain brand, you know. The cartels. They have their different like markings like this sometimes. Yeah. And these air clearly marked now do you if you stumble across £65 of cocaine. Do you get anything for turning that in? Well, I can tell you this growing being born and raised here in the number of years that we spent on the water, fishing and diving and stuff. I can't tell you how many times we pulled up anchor to drive the boat over to see if something was a bailed. You know of weed or blowers something and then have that discussion. Well, what happens if we you know if it is a big bail that we take it and try and sell it to somebody wholesale, you know, or I swear to you we've had I've had that conversation short, sometimes. I mean, that's that's $1.5 million worth of cocaine. I don't family gives you a reward for turning it in. They they should look a little something. I mean, you could have hit the streets with that. That's and that's that's a lot of money. You know, You're not gonna give him 1.5 million, but a little Something would be nice. Then 30 years ago, I would have known exactly who to call. No. Exactly. Yeah. I mean, you being a good Samaritan? You're I got to tell you that the trouble that would likely come along with trying to trying to move what $5 million looking over your shoulder for a while. E. Don't know. I want to get involved in in any of that. But I wondered if anybody got anything like a little little something for doing that. That is a good samaritan. Uh, now if you find $1.5 million worth Cash in a bag that Z. You know what? I just saw a study of the other day. I know we should be getting the sports, but whatever I found this interesting They did some research thing, and I don't know, I think was scientists in Sweden. They spent like 2000 wallets with money in like a dozen different countries around the world. And they found it fascinating that the wallets that had more money we're more likely to be returned untouched, then the wallets that had almost no money in it. That's interesting. I guess. Maybe you figure at 20 bucks. They're not gonna miss it. You know, you did, but but if it's like a grand, then you're saying Well, this could really, you know, screw somebody. If I take it, you're my next is fascinating that it is that it is all right. Coming up in the next hour. We're to talk to a former congressman David Jolly. Also, we've got more top stories to get to, including an update on what's happening in Tallahassee with the legislative session which is coming to a close. So all of that, plus weather and traffic on the way here on 6 10 Wi OD. Hey, we get it. You don't want to be hearing a progressive commercial right now. So let us tell you something You do want to hear you are powerful..
Bloomberg Radio New York
"$1.5 million" Discussed on Bloomberg Radio New York
"Of how uninformed he Woz. He said he was sorry for his ignorance in Haiti calls I'd be mutual. And I'm an Cates from the Bloomberg newsroom. The Vendee may spin off its profitable universal music group. By the end of the year shares a Paris based Vivendi have climbed as high as 24%. The biggest one day gains that there were listed in 1989 Universal Music Group has been helped by the soaring popularity of music streaming that has dragged the industry out of a decade long slump. A stock market presence could give the company more clap to compete with rivals, Warner Music and Sony. Bank of America. Trent CEO Brian Boy, no hands pay by 7.5% for 2020, a year in which the lenders net income retreated amid the pandemic, and the bank said Moynahan got $23 million in stock ran sandal $1.5 million salary while he hasn't been given a cash bonus since 2007 part of a stock award will settle in cash wanted vests. Moynahan is steering the company through another major economic slump after taking the helm 11 years ago in the wake of the global financial crisis, Charlie Pellet Bloomberg Radio Tuzla is expanding its factory output. Pencil is close to an agreement to make electric vehicles in India for the first time opening a new growth opportunity after setting up production in China. Tesla has been negotiating with local officials in southern India optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings Reports have helped stocks grind higher this month, along with hopes of the Corona virus vaccine rollout will set the stage for stronger economic growth in the second half of the year. Strategist, Orlando say hopes of more stimulus in the U. S. Has lifted global stock markets and overseas trading. The footsie in London is up 1.5%, the CAC in Paris is gaining 1%. The fax in Germany is up a fraction the Nikkei and Japan Rose 2%. Hank sank in Hong Kong climbed half a percent and China's CS I 300 climbed more than 2% Global News 24 hours a day on air and on Bloomberg..
KGO 810
"$1.5 million" Discussed on KGO 810
"I'll. House prosecutors rested their case Thursday, and even though Trump will be acquitted, the trial is considered significance. They have outlined what the president did leading up to that riot that insurrection. And they have detailed what he failed to do once it started, and that is part of the historic record now, and I think it will be something that defines Donald Trump and defines the Trump Presidency for history. ABC is Jonathan Karl. There are new charges in the wake of the insurrection their new federal charges that were released on Thursday that depict suspects discussing The need in the possibility of a special squad who would have Guns that would be brought in. If the president of the United States, then President Donald Trump gave a signal that there was a need for additional support. A B C's Pierre Thomas president Biden announced orders for 200 million more doses of Corona virus vaccine by mid summary says they'll be enough to inoculate 300 million Americans. No, thanks to his predecessor when I became president three weeks ago. America no plan to vaccinate most of the country. It was a big mess. It's going to take time to fix to be blunt with you. Health and Human Services Department says the nation is now averaging 1.5 million inoculations daily on Target to have 100 Million vaccinated in the president's 1st 100 days in office. Towering jazz pianist Chick Corea died,.