40 Burst results for "$20 Million"
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.
Game Dev Unchained
Fresh update on "$20 million" discussed on Game Dev Unchained
"It's it angers me to no end to see these companies come in and do that and then go, okay, well, we're going to lay everybody off. It's like, you know, that's shitty, you know, and I don't believe it. Is there any truth? I heard this from an investment friend and maybe you have more insight to it. Just understand the business of it all. Is there like a use it or lose it type of mentality with investment money that... Yeah, there is very much so. Can you explain that a bit more? So every quarter there's an amount that has to be spent. Otherwise it gets retracted from... Well, the first thing that you have to realize and even I didn't realize this until a couple years ago, nobody's playing with their own money. I don't know who is actually financing all this stuff, but it could be some shadow government for all I know. We'll just go ahead and start some conspiracy theories. Investors and VCs are typically playing with the money from other investors and VCs, which are then in turn playing with money from other and it goes down this whole rabbit hole. And so even the normal realization is, okay, I got bought. I have an objective to these people who bought us to actually turn a revenue, turn a profit sometimes. What you don't realize is those people who bought you are also under an obligation to turn a profit to some companies and to some body, person, other firm, whatever it has. And so it creates this cascading effect. And so, yes, they come in, we'll say in hypothetical venture capital, they have $100 million. They're going to go and spend all of that within a couple of years to get everything up and going and to invest in games or projects or companies or what have you. But then they've got to start seeing a return. If they don't, then people are starting to get angry down the line. And as long as you're continuing to acquire stuff, that is good. And let me be blunt then that I don't agree with the majority of the way that these things are done. But that's what happens. As long as you're growing, it's fine. The minute you stop growing, then you have a problem. And so it always just comes down to the firm and how they're going about. And a lot of these firms are putting in a whole hell of a lot more than $100 million in terms of their funding. We've got governments now that are putting up $10, $20 million funds because they looked around during the pandemic and went, oh, my God, maybe we should invest in these games things because people seem to play them a lot.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Hints of Green Shoots After the Crypto Winter With Host Noelle Acheson
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, September 19th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Cryptos Macro Now newsletter on Substack. On today's show, we're talking about hints of green shoots after the crypto winter, going by recent announcements of crypto funds. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto volatility certainly does seem to be coming back, judging from price moves over the past 24 hours. Yesterday, we talked about how prices were rising. Well, around about midday Eastern time yesterday after we recorded, they fell sharply, with Bitcoin dropping almost 1 .7 % in half an hour. Early today, they rapidly climbed, with Bitcoin again breaking through $27 ,000. Then there was another sharp drop and another climb. And well, you get the picture. At 10 a .m. Eastern time today, Bitcoin was trading at $26 ,975, down just over 1 % over the past 24 hours. Ether was trading at $1 ,638, down 1 .2%. Bitcoin does seem to be leading the market here. Last week, I talked about Bitcoin dominance, which is Bitcoin's percentage of the total crypto market cap. Another metric worth following to gauge market sentiment is the ratio of Bitcoin and Ether prices. Simply, Bitcoin's price divided by Ether's price. When it is rising, Bitcoin is outperforming. And when it is falling, Ether is outperforming. Over the past month, this ratio has risen by more than 6%. In traditional markets, investors around the world are braced for a slew of central bank rates decisions this week. The announcements kick off with the U .S. Federal Reserve's decision tomorrow. And throughout the week, we will get announcements from 10 more, concluding with Japan on Friday. In the U .S., as we mentioned yesterday, expectations are for a pause. Tomorrow, we also get updated economic projections in which we could see the FOMC Committee signal even higher interest rate expectations and a pushing out on the calendar of rate cuts. The inflation data we saw last week showed that core inflation is still, at 4 .3 % year -on -year, more than double the Fed's target of 2%. And headline inflation for August showed a higher -than -expected uptick while the latest jobless claims continue to show employment strength. There is little reason for the Federal Reserve to even hint that rate cuts might be coming soon. Concerns about some tough language from the Fed tomorrow, as well as the impact of rising oil, have pushed U .S. stock indices lower in trading so far today, with the S &P 500 down almost 0 .4%, the Nasdaq down almost 0 .7%, and the Dow Jones down almost 0 .3%. Over in Europe, the FTSE 100 is up slightly, as traders await a U .K. inflation print tomorrow. This is expected to show an uptick to back above 7 % year -on -year, a figure which could influence the Bank of England's rates decision on Thursday. Eurozone indices also appear to be in a wait -and -see mode, with the German DAX down less than 0 .2 % and the Euro Stoxx 600 flat in trading so far today. In Asia, Japan was down almost 0 .9%, as investors sold chip stocks after Taiwan's TSNC, the world's largest chip manufacturer, signaled slowing demand. In China, the Shanghai Composite was more or less flat today, as traders await a decision from the central bank on the benchmark loan prime rate. At the monthly fixing tomorrow, the central bank is expected to leave the rate unchanged, as economic stabilization and a weakening yuan are easing the pressure to relax monetary policy. The Hang Seng index was feeling more buoyant today, rising almost 0 .4%. The relief may be the result of good debt restructuring news from the troubled Chinese real estate sector. In commodities, the Brent crude benchmark continues its climb, almost reaching $96 per barrel earlier this morning. It has since retraced, but is still up over 1 % over the past 24 hours, currently trading at around $95 .40 per barrel. The rise continues to be driven more by supply constraints than by strong demand. On top of the production cuts from Saudi Arabia and Russia, we now have lower production likely in the US. Yesterday, the US Energy Information Administration said that output from the top US shale -producing regions is on track to fall for the third consecutive month in October to its lowest level since May. Gold continued to inch higher, up over 0 .6 % to trade at $1 ,935 per ounce. Stay tuned. After the break, we'll take a look at hints of a new season for crypto funds. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax. Welcome back. After a long, empty crypto winter, it looks like activity in crypto funds is finally picking up. Yesterday, Coindesk reported that blockchain capital has raised $580 million for two new crypto funds, one for early -stage companies and protocols, and another for late -stage investments from Series B onward. This is notable, given that most of blockchain capital's investors are traditional institutions such as university endowments, private foundations, financial institutions, sovereign wealth funds and US pension plans. While they may not be ready to buy crypto assets directly, institutions are investing in the industry. Also this morning, we heard that the digital assets subsidiary of Nomura, Japan's largest investment bank and brokerage group, is launching an investment vehicle for institutions called the Bitcoin Adoption Fund. The fund offers long -only exposure to Bitcoin, with custody handled by Comainu, which was founded in 2018 by Nomura in partnership with crypto companies Ledger and CoinShares. Those aren't the only significant signs of increased activity we've had over the past week. We also heard that Electric Capital is aiming to raise $300 million for a new fund, Cassie Kornbank, the largest traditional bank in Thailand, has created a $100 million fund to invest in Web3 and AI startups, crypto platform BitGet has established a $100 million fund to invest in the trading ecosystem, and investment firm Reverie has launched a $20 million crypto venture fund. All this over the past seven days. Green shoots, maybe? That's it for today's show. You can reach us at podcasts at coindesk .com. Do also please send us questions you'd like us to address on the Spotify Q &A. Follow us. And if you like the show, please leave us a five star rating on whatever platform you're listening to us on. Markets Daily is produced and edited by Michelle Musso, with executive production by Jared Schwartz. I'm Noelle Acheson for Coindesk. We're back tomorrow with more market news and insights.
Game Dev Unchained
Fresh update on "$20 million" discussed on Game Dev Unchained
"But again, that's like a very selective view. And a lot of that, I feel the heads of the studios are the same, right? Same types of people that are sticking together. The recreation of those successes have diminished greatly. Like you don't hear too much of a new developer having the beginnings of a GTA success. Well, you do, but they're not coming out of the gate making a GTA. I met with an investor, one of the investment firms that I know, we were at a conference, we were out at a party or dinner or something. And I asked him, I said, what are you actually looking for when you go and you're looking for a team to invest in? What is it you're really looking for? And he said, it's not as much the game. It's not even as much the team. He said, I want to find that person who's leading a group that came from a successful AAA game and they just got pissed off and said, I don't like it here. I'm going to do it myself. And they were angry enough to do something new. And so a lot of the big teams, the up and coming teams come out of bigger teams. But they end up doing something initially that's usually in that triple AAA stage first and then they build up from there. And it's not like an overnight thing. That gets back to the whole, the industry has gotten big enough. 15, 20 years ago when I was doing this, yes, you could have a team walk out and say, hey, I just finished Diablo with Blizzard and now we're going to do a different kind of action RPG. And you would have big old giant contracts thrown at them with nothing but a paper pitch. The first project that I sold for Star Breeze, there was no playable demo. And this was, again, like 15, 20, 25 years ago. They, it was nothing but a mirrored cube bouncing down a hallway in real time. And this was like pre the days of Unity and Unreal basically owning the engine space. That from a technological standpoint at the time was so groundbreaking that the publisher was like, yes, we'll figure out the game that we're going to stack on this. That's the part of the industry that has fallen by the wayside. And when you've got these budgets that are ballooning up into the hundreds of millions of dollars, that's why these big publishers can't afford to really change up that formula that much. Because right now what they've got is very, you know, easy to predict. It's like how much difference, true difference was there from gameplay wise between GTA 3, 4, and 5? None. You're still in a giant. The worlds got bigger, the locations changed, the stories got longer, but they were still the same game. Am I wrong? I don't know. I think you're right. I think they just expanded what worked. And that's what, and that's it. It's like, that's why we see Madden come out every single year. FIFA come out every single year. You know, it's expansion of what's working that's safe. You know, you're not going to see a publisher go out and drop $200 million. On a game that is completely out of right field. But you will see a publisher come out, you know, on the indie side and drop to even $20 million on something that's that. Because they're willing to take that risk and they're willing to, you know, roll with it a little bit and have that faith that something's going to be different. That's why I always explain to investors and folks outside the industry, because they're like, oh, you know, did she work on Madden? I'm like, no, I have never worked on a Madden. I have spent 25 years on the indie side of these games. I was like, but when you look at the industry, it's an iceberg. And the stuff you see above the water is your, you know, Sony, Activision, EA, Ubisoft, that. But underneath that, there's this giant, vast world of indie games out there that are making, you know, really good money. One of my favorite examples is Coffee Stink. You know, they started out with Goat Simulator. And the first time my son showed me that, I was like, this is the stupidest thing I have ever seen in my entire life. I was like, they literally just took a physics engine and some Tony Hawk Pro Skater mechanics and dropped goats in it. And they're selling millions of units. But that took, no big publisher would have jumped on the title. It was just too far out there, but they had huge success with it. And then they went from being developer to, okay, we're going to be self-publishing our titles, continued to have success. And then they're like, okay, we're going to start publishing other developers' titles. They're leaning out and they're trying to help other developers at that point. And it goes and goes and goes up until they get, you know, bought by Embracer or whoever, whichever one of these super conglomerates ended up buying them. But that's the evolution that we see from the indie side and from the people that are really, really making changes and really, really doing cool stuff until it gets to the point where, you know, look at how long it took DayZ to turn into PUBG and then Fortnite after that. So really long winding answer to the part of, you're not going to see, the big budget games are still going to continue to come out. They're still going to be a market for them. They're not going to evolve that much. But, you know, a lot of the evolution of a lot of the really, really cool stuff is coming from these teams that leave those AAA studios and go, we want to do something different.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Hints of Green Shoots After the Crypto Winter With Host Noelle Acheson
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, September 19th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Cryptos Macro Now newsletter on Substack. On today's show, we're talking about hints of green shoots after the crypto winter, going by recent announcements of crypto funds. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto volatility certainly does seem to be coming back, judging from price moves over the past 24 hours. Yesterday, we talked about how prices were rising. Well, around about midday Eastern time yesterday after we recorded, they fell sharply, with Bitcoin dropping almost 1 .7 % in half an hour. Early today, they rapidly climbed, with Bitcoin again breaking through $27 ,000. Then there was another sharp drop and another climb. And well, you get the picture. At 10 a .m. Eastern time today, Bitcoin was trading at $26 ,975, down just over 1 % over the past 24 hours. Ether was trading at $1 ,638, down 1 .2%. Bitcoin does seem to be leading the market here. Last week, I talked about Bitcoin dominance, which is Bitcoin's percentage of the total crypto market cap. Another metric worth following to gauge market sentiment is the ratio of Bitcoin and Ether prices. Simply, Bitcoin's price divided by Ether's price. When it is rising, Bitcoin is outperforming. And when it is falling, Ether is outperforming. Over the past month, this ratio has risen by more than 6%. In traditional markets, investors around the world are braced for a slew of central bank rates decisions this week. The announcements kick off with the U .S. Federal Reserve's decision tomorrow. And throughout the week, we will get announcements from 10 more, concluding with Japan on Friday. In the U .S., as we mentioned yesterday, expectations are for a pause. Tomorrow, we also get updated economic projections in which we could see the FOMC Committee signal even higher interest rate expectations and a pushing out on the calendar of rate cuts. The inflation data we saw last week showed that core inflation is still, at 4 .3 % year -on -year, more than double the Fed's target of 2%. And headline inflation for August showed a higher -than -expected uptick while the latest jobless claims continue to show employment strength. There is little reason for the Federal Reserve to even hint that rate cuts might be coming soon. Concerns about some tough language from the Fed tomorrow, as well as the impact of rising oil, have pushed U .S. stock indices lower in trading so far today, with the S &P 500 down almost 0 .4%, the Nasdaq down almost 0 .7%, and the Dow Jones down almost 0 .3%. Over in Europe, the FTSE 100 is up slightly, as traders await a U .K. inflation print tomorrow. This is expected to show an uptick to back above 7 % year -on -year, a figure which could influence the Bank of England's rates decision on Thursday. Eurozone indices also appear to be in a wait -and -see mode, with the German DAX down less than 0 .2 % and the Euro Stoxx 600 flat in trading so far today. In Asia, Japan was down almost 0 .9%, as investors sold chip stocks after Taiwan's TSNC, the world's largest chip manufacturer, signaled slowing demand. In China, the Shanghai Composite was more or less flat today, as traders await a decision from the central bank on the benchmark loan prime rate. At the monthly fixing tomorrow, the central bank is expected to leave the rate unchanged, as economic stabilization and a weakening yuan are easing the pressure to relax monetary policy. The Hang Seng index was feeling more buoyant today, rising almost 0 .4%. The relief may be the result of good debt restructuring news from the troubled Chinese real estate sector. In commodities, the Brent crude benchmark continues its climb, almost reaching $96 per barrel earlier this morning. It has since retraced, but is still up over 1 % over the past 24 hours, currently trading at around $95 .40 per barrel. The rise continues to be driven more by supply constraints than by strong demand. On top of the production cuts from Saudi Arabia and Russia, we now have lower production likely in the US. Yesterday, the US Energy Information Administration said that output from the top US shale -producing regions is on track to fall for the third consecutive month in October to its lowest level since May. Gold continued to inch higher, up over 0 .6 % to trade at $1 ,935 per ounce. Stay tuned. After the break, we'll take a look at hints of a new season for crypto funds. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax. Welcome back. After a long, empty crypto winter, it looks like activity in crypto funds is finally picking up. Yesterday, Coindesk reported that blockchain capital has raised $580 million for two new crypto funds, one for early -stage companies and protocols, and another for late -stage investments from Series B onward. This is notable, given that most of blockchain capital's investors are traditional institutions such as university endowments, private foundations, financial institutions, sovereign wealth funds and US pension plans. While they may not be ready to buy crypto assets directly, institutions are investing in the industry. Also this morning, we heard that the digital assets subsidiary of Nomura, Japan's largest investment bank and brokerage group, is launching an investment vehicle for institutions called the Bitcoin Adoption Fund. The fund offers long -only exposure to Bitcoin, with custody handled by Comainu, which was founded in 2018 by Nomura in partnership with crypto companies Ledger and CoinShares. Those aren't the only significant signs of increased activity we've had over the past week. We also heard that Electric Capital is aiming to raise $300 million for a new fund, Cassie Kornbank, the largest traditional bank in Thailand, has created a $100 million fund to invest in Web3 and AI startups, crypto platform BitGet has established a $100 million fund to invest in the trading ecosystem, and investment firm Reverie has launched a $20 million crypto venture fund. All this over the past seven days. Green shoots, maybe? That's it for today's show. You can reach us at podcasts at coindesk .com. Do also please send us questions you'd like us to address on the Spotify Q &A. Follow us. And if you like the show, please leave us a five star rating on whatever platform you're listening to us on. Markets Daily is produced and edited by Michelle Musso, with executive production by Jared Schwartz. I'm Noelle Acheson for Coindesk. We're back tomorrow with more market news and insights.
The Crossover NBA Show with Chris Mannix
Fresh update on "$20 million" discussed on The Crossover NBA Show with Chris Mannix
"But this is such a slam dunk if Chris Paul can just solidify a bench that was really bad for much of last season. You play a lot of minutes and you'll probably get a lot of starts anyway just with this group and how old they are. I don't know. Again, look, it's easier said than done. If I had Chris Paul's resume, if I held the record for the most starts to begin a career in NBA history, I would be reluctant to be pulled out of that as well. But you have to realize what you're stepping into, which is a championship culture, frankly. A team that can win one that's not in its prime anymore but still has every ability to go out and win one, and that you get to solidify the weak part of that team. And potentially win six-man. What a cool story arc that would be that when you can't start or when you're not starting, you get to do that instead for a championship team. Can you imagine just what that narrative sounds like for his career? It's a really nice way to go out. I thought Chris Paul would be in the league right now. Most people thought after Houston ended he would have kind of disappeared the way of Carmelo Anthony. He played great in Oklahoma City, great in Phoenix. He's playing with house money right now. And to get one more contract that could be in today's NBA marketplace, $15, $20 million per year over a couple of years, I think a reserve role is where it's at. Also with Golden State, do we have to address the idea that after dealing with LaFare, Jordan Poole, the Warriors went out and signed a guy that Klay Thompson and Draymond Green said sucked at one point? I'm sure it's water under the bridge for these guys. I have no doubt that it's not going to be a lingering issue. But I thought that was hilarious. Klay Thompson legitimately said he was awful, and Draymond Green said something similar. He hit him with the Snoop Dogg Charlemagne clip where he's like, who? That was how they felt about Rodney Magruder. I'm sure they've not thought about Rodney Magruder since that night. The last storyline I want to throw out there, by the way, real quick is I want to see how Michael Malone motivates his guys in Denver because he's not going to be able to play the nobody believes in his card anymore. There's never been more wide support of Nicole Jokic as the best player in the NBA. I don't think he can fall back on the nobody pays attention to us, nobody thinks we can win routine. Which, by the way, I just want to point out that I saw Michael Malone in Los Angeles in the middle of last season, shook his hand in the tunnel, told him the Nuggets were my finals pick. He just completely ignored that the entire postseason run. You wanted him to shout you out? And then I saw him, I was leaving Eric Swelter's press conference in Miami and bumped into Michael Malone again. And I said, Coach, what did I tell you? You guys are my finals pick. Don't make me look like an idiot. So he's just, he's conveniently left that part out of the narrative. So I'm just curious to see how Coach Malone handles it this year. I don't think it's going to be any kind of issue there. I mean, look, Mike is still going to play the nobody believes in his card. Like the first comment that somebody makes about the Nuggets that is even remotely negative will be tack to the bulletin board in that Denver locker room metaphor. Chris, they're going to use you. They're going to use you as the bulletin board material. Let's keep it funky here. I'm sure whenever I have in my mouth about Denver, they'll do that. But I mean, look, like you think Nagole Jokic ever thought about anything anybody said? He was never motivated by any of that. I think organically Jamal Murray is going to be better. You know, he's now another year removed from that ACL injury. And I think the player we saw in the second half in the playoffs is going to be the player and more we see next year. I think Michael Porter Jr., if he stays healthy, he's going to be really good. I'm not overly concerned about the loss of Bruce Brown because I think Christian Brown can step in and give them good minutes. Jeff Green loss is tough too, but they've got pieces there. I think they're fine. It's going to chug along, mostly because their superstar does not give a fuck, like just does not care. He's just going to do his thing and be great and the rest of the team will kind of fall in line behind him. They to me are prohibitive favorite to at least win the regular season crown, at least be the number one seed in the Western Conference. If playoffs come around and Phoenix comes together, the Clippers fully healthy, that might be a different argument. When those teams, if they're fully loaded and looking like they're playing with good chemistry, they're going to be tough to beat. But for the regular season, it's Denver's number one seed to lose. I'll just say about Denver. I'm mostly in agreement with you. I think Jokic, like you said, there's no shaking him. There's no rattling him. He just produces.
CoinDesk Podcast Network
A highlight from UNCHAINED: With Execs Leaving and Market Share Declining, Can Binance Survive?
"This is a lot for one particular exchange, any company really, but an exchange as consequential as Binance to deal with. Binance US, obviously the first thing on their mind is sort of trying to fight the SEC and figure out a way forward. I mean, there is a world where Binance can exist where it's not quite as big as it was before. Hi, everyone. Welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor at Forbes, I was the first mainstream media reporter to pick up a cryptocurrency full -time. This is the September 15th, 2023 episode of Unchained. Today's episode is brought to you by Overtime Markets, your premier Web3 sportsbook. The innovative protocol is changing the game one match at a time. Powered by fails, explore more at OvertimeMarkets .xyz. Arbitrum's leading Layer 2 scaling solution offers you ultra -cheap and lightning -fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. With the Crypto .com app, you can buy, trade, and spend crypto in one place. Download and get $25 with the code LAURA. Link in the description. Today's guest is Stephen Ehrlich, editor of Forbes Crypto Asset and Blockchain Advisor and director of research at Forbes Crypto. Welcome, Stephen. Thanks, Laura. Thanks for having me. Just a heads up, everyone. I have a sore throat, in case you can't tell. So you might hear a slightly scratchier voice from me today. There have been a number of news events related to Binance over the last several months, to the point where there are now a number of questions swirling around the exchange in its future about potential regulatory and possibly even criminal actions against the exchange and its founders. And then, of course, what all of this could mean for the crypto industry if the exchange that has been the biggest crypto exchange for the last six years either falls or at the very least loses its top spot. So, Stephen, can you start by giving us kind of the main events or highlights of what has been happening with Binance over the last several months, including, you know, another big, you know, event this week that have brought Binance to really what feels like an existential point in its story? Sure. How much time do you have? Because I think this is just a 30 -minute show. But no, I mean, in crypto, we kind of feel like every day is a week, every week is a year, every year is a decade. And for Binance, there's been no shortage of big news. When FTX collapsed in November sort and of left CZ as like the big 800 -pound gorilla that really was kind of lording over all of crypto, there were a lot of thoughts that, hey, maybe this is Binance's moment. It was already the biggest exchange in the world by a large margin, and it just became so much bigger and even more systemically significant. It's been a very difficult year for Binance. I mean, just beginning with the fact that in the 60 days post collapse of FTX, more than $12 billion worth of customer deposits left the exchange. A colleague of mine, our terrific Director of Data and Analytics, Javier Paz, put together a report just talking about these massive investor outflows that Binance has really worked to try to stem ever since. I mean, then the hits kind of kept coming. I believe it was in February that the New York Department of Financial Services forced Paxos, which was the issue of Binance's stablecoin, BUSD, which at one point I believe reached over $20 billion in market cap and was seen as a legitimate competitor to Circle's USDC and the biggest stablecoin of all, Tether, which has a market cap of $83, $84 billion or so. But DFS forced them to with something that came out of the SEC as well. And that was a really big hit for Binance. It might not have been quite as flashy as the suits from the CFTC and SEC that came in later. But if you're just talking about dollar terms and financial impact, it was massive because Binance was really trying to make BUSD the biggest stablecoin in the world. They had incentives to encourage trading with BUSD. And in particular, think about what people do. And obviously, Lara, you know this and many people in your audience do as well. When you have $20 billion or $40 billion or $80 billion in cash, you can invest it in treasuries or money markets that are paying 5 % annual returns. And that's an incredible amount of money that you can make virtually risk -free, especially in a market like today where trading volumes are dwindling, reserves are dwindling. It's a really nice way to sort of supplement assets. So, that's one thing that happened. In March, the CFTC sued Binance for a suite of charges. A lot of it stemmed from the CFTC's allegations that Binance was operating as an FCM, a futures commodity merchant, basically saying that they're offering options and futures contracts at various digital assets without registering with the agency, which is required to do in the United States. And then in particular, and this much like the SEC's suit, which came out in June, they both talked about efforts Binance went to not only let US customers participate on the exchange, but actually help them find ways to get around geo -blocking activities that they put in to make sure that the best customers could still trade on the exchange. So, there's the CFTC lawsuit in March. There is the SEC lawsuit that came in June. There are rumors that the DOJ is investigating Binance and they would bring criminal charges. CFTC and SEC are sort of civil endeavors, which would kind of lead to fines and maybe bars from trading and certain activities. But obviously, DOJ could bring criminal penalties if they bring such charges and are able to get CZ into custody. And then, I mean, there's other aspects too as well. I mean, Binance has been losing payment and the banking partners around the world. Binance US in June had to become a crypto -only exchange because they lost their banking partners in the US, so they couldn't handle US dollars anymore. They lost their auditor in January. And then on top of that too, just a wave of executive departures going from the C -suite to country managers. So, this is a lot for one particular exchange, any company really, but an exchange as consequential as Binance to deal with. It's really been just an onslaught of bad news after bad news. I mean, there's been a few glimmers of new product initiatives and things like that. But a few other steps I want to throw in there are that spot volumes, like in terms of its market share, it had about 60 % of all crypto exchange volume market share at the beginning of the year. Now, for the last few months, it's been at 45%. And they laid off a thousand people. And then actually, let's also now mention the executive departure this week that was at Binance US. Tell us about that. Right. So, Binance, as you rightfully said, has been losing market share. They remained the largest crypto exchange in the world, but they are losing market share in this dwindling market. I actually believe the latest numbers that came out from CC Data put Binance's spot market share at least at around 37%, 38%. And if you're just looking at their spot volumes, I mean, they were comfortably still above $20 billion daily, even at the beginning of the year. Now, it's down to about $5 billion. At the peak 2021, it was over $60 billion. So, I mean, just think about exchanges make money by taking small cuts of every exchange. And if your volume goes down 80 % or whatever, I mean, that's money that you're no longer getting. And obviously, that's very consequential. And then with the executive departures, as you said, that's something that I know CZ has tried to gloss over. I know when we've reached out to some of the departed executives and they've either responded to us or to just public Twitter postings, et cetera. I mean, they kind of said things like, we want to take care of our family, the time is right. There was no acrimony involved, so on and so forth. But at some point, all of this takes a toll. And at least with regards to Binance US, which is the US I think franchise is the term that they like to use for that particular exchange, they're in a very tenuous situation right here. I mean, even before, and I'll talk about Brian Schroeder's departure in a second. I believe right now, I just checked the numbers before we recorded this, they're averaging about 20 million, not billion, not 200 million, but $20 million a day in transaction value. 10 million of which is Bitcoin. I believe that I think they charge something like 10 basis points per trade. So if you think about that, like 20 million times 0 .1, I'm not really good at doing math in my head. I use a calculator for that despite the fact that I'm a financial journalist, but you can just think about how little money that actually is coming in. And then obviously since Binance US was created in 2019, there's always been issues and questions about its independence from the larger exchange and would it actually be able to find that sweet spot of separating itself in the eyes of regulators while maintaining the super sauce that is made by Binance, a love brand by many customers. And they've gone through three CEOs at this point, Brian Schroeder just resigned. I was speaking with some sources familiar with Binance US and I was basically told that this was not a planned departure, that the 100 person layoff was, but the removal of CEO Brian Schroeder, the exit of him was not. I've also been told that it's important to kind of keep an eye off some of his key lieutenants now, because remember when he joined, one of the first things that he did was raise a $200 million actually seed round at a $4 .5 billion valuation. That's something Brian Brooks, his predecessor had wanted to, but he wasn't able to finish it. Brian Schroeder did. And then for part of that, that kind of saw Binance US as a growth company, he brought in some key lieutenants, chief legal officers, chief risk officers. And I think that now that Binance US is kind of moving away from obviously growth, like any exchange to sort of conservation, it's important to look at some people he brought in and they may be looking to leave. And actually one of the sources I was speaking with told me that their chief risk officer is Sydney Majala, and I want to look at my notes to make sure I don't get the names wrong, and head of legal, Krishna Jubelty, have actually emails that have been sent to them by some of the other rank and file, have started to bounce back. So I don't know if that necessarily means that they may have already left, but it certainly, I think it's important to, now that Brian has gone, see if some of people that he brought in after he raised this big round with a lot of high expectations, if they are going to follow suit. In a moment, we're going to talk about some of the potential regulatory or potentially even criminal actions against Binance and its executives. But first, a quick word from the sponsors who make this show possible.
The Big Take
Fresh update on "$20 million" discussed on The Big Take
"Bloomberg Four intelligence hours Terminal. a senior day at litigation Bloomberg The analyst I'm .com June Writers Jennifer and Guild Rhee. the of Bloomberg America Business For strike Act. more of days, Jen's is analysis, done. the board go to B of the -I After WGA -Go 148 on the West and council of the WGA East voted unanimously to lift the strike effective at 1201 Pacific time Wednesday. A judge is ruling Donald Trump and his company are liable for fraud in a lawsuit brought by the New York Attorney General's Office. The judge in his ruling found Trump made false and misleading valuations for his real estate assets over the years to secure loans and insurance deals. United Auto Workers president Sean Fain says the union isn't letting up on its demands amid an ongoing strike. He spoke to MSNBC Tuesday, the same day President Biden stood alongside members on the picket line in Michigan. The members, you know, uh, being out there standing up for their future. Um, or what brought the president here? And it's, it's a great, uh, estimate to see him come here. House speaker Kevin McCarthy says it would be very important to have a meeting with President Biden to prevent a government shutdown and address the border crisis. McCarthy a is hoping bill to that would pass pair a short term government funding extension with a series of border policy changes backed by Republicans and opposed by Democrats. A federal judge has struck down a new Texas law that prohibits sexually oriented performances in front of minors. Lisa Taylor reports, LGBTQ advocates said the law was really meant to target drag shows. And today a federal judge called it an investigation. The ruling says the performers could have faced criminal charges. The ruling says that drag shows are considered expressive conduct that should be protected by the First Amendment. Fewer Americans are feeling good about the economy for a second straight month. The Conference Board's Consumer Confidence Index fell five points in September from its publicly revised August reading. I'm Brian Shook. A Fulton County, Georgia superior court judge is making sure precautions are in place to protect prospective jurors in former President Trump's racketeering case. Michael Kastner reports, District Attorney Fannie Willis was seeking to safeguard the panel after members of the grand jury who indicted Trump were singled out on the internet Judge last Scott month. McCaffey ruled that jurors cannot be recorded, photographed, or identified in any way once the case reaches trial. The DA has also been the target of threats since the investigation began into alleged attempts to overturn Georgia's 2020 presidential election results. I'm Michael Kastner. The Justice Department is committed to ending the fentanyl epidemic. That's what Attorney General Merrick Garland told families who lost loved ones to the drug during remarks at DEA headquarters this morning. Garland said authorities have seized more 55 than million fentanyl pills and more than 9 ,000 pounds of fentanyl powder. JP Morgan Chase is agreeing to pay $75 million to settle a lawsuit regarding the late disgraced financier Jeffrey Epstein. Natalie Migliori reports the U .S. Virgin Islands alleged New the York -based bank helped Epstein, a longtime customer, sex -traffic young women, and benefited from it. JP Morgan did not admit it did anything wrong in its settlement, but agreed to give $55 million to Virgin Islands charities and the territory's anti -trafficking efforts. Another $20 million will be to pay lawyers fees as part of litigation in New York federal court. Earlier this summer, JP Morgan agreed to settle a separate $290 million lawsuit with Epstein victims. Experts say the search for huge pumpkins will be a little more difficult this fall. Lindsay Pyle works at her family's pumpkin farm in North Texas, and she says like everything, their costs have gone up this year thanks to inflation. So, in addition to fewer seeing and smaller pumpkins, they'll probably be more expensive in 2020. Thanks for watching. Thanks for watching. Thanks for watching. Hit with an antitrust lawsuit from the Federal Trade Commission. The FTC says Amazon is monopolizing marketplace services by degrading quality for shoppers and charging sellers. FTC chair Lena Khan stopped short of calling for a breakup of the company, but she is vowing to take action. We believe that this lawsuit, if we're successful, will actually entirely restore the promise of free competition. Our free enterprise system is one where companies be should competing on the merits and not be able to protect their monopoly power through illegal tactics. In In its defense, Amazon is arguing that consumers will see prices actually go up and product selection come down if the agency gets its way. In the meantime, OpenAI, the creator of ChatGPT is reportedly talking to investors about a potential share sale. The Wall Street Journal the says startup would seek a valuation of 80 to 90 billion dollars. It would make OpenAI one of the most highly valued startups in the world. Bloomberg's Ed Ludlow. In April, the valuation was around 29 billion dollars. So this is a significant jump but part of what the Wall Street Journal is talking about is something Bloomberg's already reported that OpenAI is on track to around a billion dollars of revenue this year, a greater lot a than that in 2024. So while it's a jump up in valuation, and this is based on an outside the share sale, by the way, not issuing new shares or a new round of equity with VCs, you know, they real business. Bloomberg's Ed Ludlow. Separately, the CIA is looking to roll its out own chat GPT style tool to sift through public data. Baba's logistics arm Tainiao has filed for a Hong Kong IPO. Bloomberg's Joanne Has the story from Hong Kong. The Hong Kong Stock Exchange confirmed that Alibaba can proceed with a proposed Tainiao spinoff and IPO that will potentially make Tainiao the first of Alibaba's units to go public. Sources say the IPO could raise at least $1 billion. The stock exchange website says CITIC Securities, Citigroup and JP Morgan are joint sponsors of the offering. Alibaba intends to retain more than 50 % of the unit shares and keep Tainiao as a subsidiary. That's Bloomberg's Joanne Wang reporting from Hong Kong. Let's check the markets. The Hang Seng Index is trading up about 0 .75%. The Hong Kong and China markets among the few that are trading higher today. The Hang Seng Tech Index up 1 .3%, the CSI 300 up about 0 .4 % of 1%. The Nikkei has traded lower down 0 1%. The ASX 200 in Sydney is down 0 .01%. Dollar Yen, 149 .01. Global news brought to you by 2700 journalists and analysts in 120 In Hong Kong, I'm Brian Curtis. This is Bloomberg. You're listening to the Big Tech Podcast on Bloomberg Radio. I'm Wes Kosova. Today we're talking about whether big companies have made good on pledges more brands and businesses are vocal becoming in the movement for racial justice and equity. Some are taking it a step further pledging donations and changes in their own practices to address workforce inequity. Adidas which also owns Reebok is pledging to increase the number of black and Latino employees it hires by the end of next year. Think of America is pledging to address racial and economic inequalities by partnering with community colleges and universities. Microsoft's CEO Satya Nadella has now outlined some plans to double the number of black managers and senior leaders in the US of that company over the next five years. In 2020, after the murder of George Floyd in Minneapolis led to protests across America, many US corporations pledged to address racial imbalances in their workplaces. They promised to hire and to promote more black people and others from represented groups. Now, three years later, we're able to see some of the early results. Bloomberg's Jeff Green and Rebecca Greenfield are here to talk about a new analysis by a big team here in our newsroom. It shows for the first time how some of the most prominent US companies did in good on those promises, where they've made gains across 88 companies, 4 % of those net new people were people of color. It's the kind number of when you see it, you go back and you check all your data because you figure you must have done something wrong. And we've done again that and again and it's correct.
Tech Path Crypto
A highlight from 1254. SEC WARS! | Gensler vs Peirce, Mila Kunis NFTs, & Star Wars
"All right, so we're going to get into the SEC and their war on the NFT market and their recent filing, of course, against Stoner Cats. We'll break all that down for you. But more importantly, we'll get into more of a depth of why these projects are where they are and really what could be done about this for the future, because there's a lot of implications here. My name is Paul Berra. Welcome back into Tech Path. Before we get started, I want to thank our sponsor, and that is iTrustCapital. If you guys want to do long -term holding of your crypto assets and you want to put it in a crypto IRA, you can do that with iTrustCapital. And there's a couple of ways you can do it. Start a new one, or you can actually transfer in one of your current IRAs. So it's very easy to do. All you have to do is sign up, and you can check the platform out just by going over to iTrustCapital and seeing what they've got to offer for your particular situation. Very easy. Use our link down below. It's going to give you a $100 funding reward to get started. All right. So let's get into it today. I want to lead off with a few clips here. We'll go into a lot of lineup here, I think, that will frame up exactly what happened during the Stutter Cats. And this is very important, because you may be a brand. You may be someone that's interested in the FT market. This is something you want to watch. You don't want to miss this one. So let's go to the first clip. We were having dinner with Gary Vee at the time, and they were talking about crypto. And I was like, this is dumb. And then as the years went on, I was like, I think I'm on the wrong side of history on this one. I think I was wrong. Okay. So interesting position. I think some people kind of look at it that way. But let's continue on telling this story, because there's a lot here that breaks out where the future is going to go with this. Listen in. Hey, babe. Yeah? What's blockchain? It's like what information is stored on. So like, it's, you know, what information is stored on? Hey, babe. Yeah? What's decentralization? Oh, there's not one person in charge of anything. So it's everybody keeps everybody else in check. Hey, babe. Yeah? What's Ethereum? So Ethereum is a general purpose blockchain. All right. We had to put that one in there. What a great, great piece that is where Mila learns a little bit more about Ethereum. Let's go over to now that she's understood what's happened and how this market is really a differentiator for pretty much everyone, she wants to do something about it. So listen in. And I'll tell you why. Like all jokes aside is because it made me nervous and I felt like it was a very masculine area. Like everybody that I knew that knew anything about it at the time was always a man and I found it to be really empowering. And so through the pandemic created a form of entertainment called stoner cats that we're releasing in a couple of weeks that is an NFT and you can buy such stoner cats. And then that is your token to then watch a five minute long piece of entertainment. It sounds like a cool idea. And I know you've had experience in animation and comedy. So we have a, I think we have a picture here of the stoner cats. This is yep. And it's really cool guys, because I'll tell you, in the very, yeah, so here's the thing on it. I was going to say cats just sit around anyway. Well guess what happens when they get stoned. The people that we got to do the voice is everybody just did it because they thought that it was different and fun and we all wanted to do it for the right reasons. And it brings ownership of content back to the artist and cuts out the middleman. And so if people like the NFTs and they buy it as tokens, then more shows will be made. Look at those eyes. I mean, come on. Come on. All right, so I want to play another clip that goes into how she integrated this into Hollywood. Listen it. So Mila was surprised by how many people she was able to recruit to take part in the new medium, including Jane Fonda. We were like, who can be Mrs. Stoner? Like we should get somebody like Jane Fonda. It would be so amazing to get somebody like Jane Fonda. And I was like, OK, let's just call Jane Fonda. I know this is an incredibly weird request. Would you ever do something like this? And they're like, I don't quite get it, so I'm going to say yes. It's just different and everybody wants ownership of content to go to the artist and this kind of allows that to happen. So again, really kind of hitting on the thread that I think everybody understands what decentralization and NFTs and in general, smart contracts really mean for the future of content and they hit it on the head. There was the OpenSea launch, of course, fully sold out and it just happened in like seconds. It was a pretty fast and very successful run. The key here is that if you look at the data, this comes back from a tweet back in 2021 when they launched this. There was the Ethereum gas fees for this, so you can see it had an immediate impact on ETH in general. And overall, the gas fees were kind of a thing and so much so that we actually had a song written about this. So listen in. This is a story of superfood, how he tried to get a stoner cat, and with a snafu in the gas limit, he lost $13 ,000 right on fire. Gas fees. Now, this is back in the era of when we weren't really seeing the advancements in blockchain that we are now, especially in smart contracts, obviously gas fees were part of this. This is, I think, has really started to be evolved over the last 12 months with just so much innovation in the space. But I think this also caught a little bit of the SEC's eye, possibly. There could be some theory behind that. But the interesting thing was is just how fast this thing sold out. Listen to this clip. Thank you so much for honestly believing in this entire crazy concept and idea and being a part of it, because it has been a whirlwind and we're so excited to continue down this journey with all of you. We're so sorry that we broke Ethereum, but also, fuck it. Sorry the gas fees were high, I tried to waive them, it clearly didn't work, I'll work better, I'll try harder. We're so excited, genuinely shocked at any and all of this, and just want to say hi and thank you and welcome to the team. We're excited for you to join the team. Thanks for being aboard. So again, this is innovation at work. It's how startups go out. And I think from a content creator standpoint there, this is the right kind of vision of what Hollywood most likely is going to be doing in the future, provided they can get past these kind of scenarios that the SEC is placing on them. Let's go to the next clip, which just shows you a trailer just how much work was put in this project. I have regrets. Run, Chuckie boy, run! Run! What Ow! in the poltergeist? Fuck! All right, so many episodes lined up on this, their friends, kind of everybody got together, had watch parties. This became a bit of a community, and I think that's again another big part of how fans work, especially when you look at content and how that gets released in Hollywood today. As for Stoner Cats, they actually released all six episodes, so you can kind of see the website here, scrolling through all the episodes, all delivered as promised. And that was really the goal, and I think that's the position of where all of this starts to stem from, especially in the position of what's happening with the SEC. If you scroll further down on the website, I thought this was cool. Website Stoner Cats content will be available in perpetuity using decentralized hosting and archiving service R -weaves. So again, they were utilizing literally from the beginning all the way through the blockchain to deliver this kind of content. These are the kind of technologies that will start to shift content creation. You often wonder why and what is driving the SEC's decisions on this. If you go over to the SEC, we'll get into the actual complaint here. So they charged creator of Stoner Cats' web series on registry offering securities. I'll read a few things from it. Raised approximately $8 million from investors to finance the animated web series called Stoner Cats. $800 each, selling out 35 minutes. Marketing campaigns highlighted specific benefits from owning, including option for owners to resell on secondary market. Marketing campaign on the Stoner Cats team emphasized its expertise, and Hollywood producers agreed, leading investors to expect profits. That's a reach. Configured the Stoner Cats NFTs to provide a Stoner Cat 2, a 2 .5 % royalty, which is happening on the aftermarket. Leading purchases to spend more than $20 million in at least 10 ,000 transactions. So you had $20 million plus the $8 million, about $28 million, almost $30 million on an animated series that was done based off of blockchain. And remember, this just as a side project, so very successful. Further into the complaint right here, cease and desist order to pay a civil penalty of $1 million. The order establishes a fair fund to return the monies that injured investors. I love how they said that. Injured investors. Paid to purchase NFTs. I also agreed to destroy all of the NFTs in its position. This is a problem because, again, this is almost anything you can imagine that would go in the secondary market. I mean, comics, collectibles, luxury goods, anything and everything could be a security. So I think this continues on its hypocrisy of where this is going. Here was a course Hester Peirce and you, Ada, coming in and saying they didn't necessarily agree. Let me zoom in on this right here. Lacks any meaningful limiting principle. Creativity would wither in the shadow of legal ambiguity. She deserves clear guidance in talking about Kunis here. The fact that money is involved does not transform into NFTs, into securities. The enforcement action involves activity that we believe constitutes a fan crown funding, which is a common phenomenon used all the time. Soner Can's NFTs are not a different from Star Wars collectibles in the 1970s. So again, big problem. Toy company Kenner sold early bird certificates, redeemable for future Luke Skywalker and Princess Leia and R2 -D2 action figures. So you had membership scenarios that played into this and the sales of those certificates helped build a diehard community around Star Wars.
News, Traffic and Weather
Fresh update on "$20 million" discussed on News, Traffic and Weather
"She describes the closing weeks of the Trump White House as even more chaotic and lawless than she previously disclosed ABC's Morgan Norwood has more from New York. Cassidy Hutchinson a former top aide within the Trump administration is shedding light on the final days of the Trump White House in an interview with a view Hutchinson begs the American people to stop Donald Trump from regaining the White House. election. I think it is our responsibility right now for the next year to do everything we all can do to make sure that the closest he ever gets to the Oval Office again is when he reports the federal courthouse in Washington DC. Hutchinson was the top aide to Trump's chief of staff Mark Meadows her interview covers much of what she writes in new her book enough in it she alleges meadows burned so many documents after the 2020 election that his office smelled like a bonfire Cassidy Hutchinson says she still is a Republican but interview on MSNBC she says she worries if her party doesn't reject Trump as he seeks to return to House the White the party may cease to exist in this next election cycle it's in my opinion is the make -or -break moment for the Republican Party now is the time if these politicians want to make the break and want to take the sand they have to do it now Mark Meadows has not responded to ABC News requests for comment however MSNBC says a representative for Meadows released a statement on Hutchinson's allegations which said in part much of her claims in this book about Mr. Meadows or otherwise are filled with half -truths falsehoods and purposefully omitting context to sell books Hutchinson went on to tell MSNBC that she has complied with all of the Trump investigations thus far and will continue to do so if called Morgan Norwood ABC News New York Women are starting to break the ice in the male -dominated National Hockey League Bill Swartz has more on the female coach who set a Seattle benchmark I grew up as a young player dreaming of playing in the NHL because that's all I knew that's all you I you know I'd seen I never you know imagine being able to coach at this level 31 year old Jessica Campbell knows the game to skate in Saskatchewan played for Team Canada in a pair of world under -18 junior championships and was team captain of Cornell University's hockey team knowledge of the sport and ability to communicate led the Seattle Kraken to hire Campbell as a full -time assistant coach for their minor league team in Coachella Valley California you try to learn from as many people around you right and so within the whole organization it's just a wealth of knowledge and so I try to surround myself with all the conversation that's available to me and and the resources. Campbell takes pride in mentoring young players who made an impact in the Kraken's run to their Stanley Cup playoffs getting them on the path to be here and you know to see guys like you know Ty Cartier to come up in key moments last year and get an opportunity to succeed and have an impact the way he did that's what it's all about and that's really why we show up at the rink every day. Coachella Valley's Andrew Pateralsk on what makes Campbell a fine coach. Yeah she's awesome you know she totally deserves being in the spotlight you know she brings such a different side to things and she's super really creative and just a totally different perspective than what I've been used to. At Monday night's preseason Seattle game against Calgary Jessica Campbell became one of the few female coaches to stand behind the bench for an NHL game. It's obviously a tremendous opportunity and and I'm honored to be to be where I am and to be it's really it's a humbling feeling to be a part of the Kraken organization I truly mean that and so yesterday there was moments I tried to just be in the moment but for sure taking it all in in the crowd and the fans it's a pretty unbelievable experience. When it comes to opportunities for women in hockey, the Kraken have walked the talk. Samantha Holloway is co -majority owner, Alexandra Mandrycki, VP Assistant General Manager. Who knows, maybe Jessica Campbell the NHL's first woman head coach. I'm Bill Swartz, Northwest News Radio. your stockcharts .com money update on NewsRadio 1000 FM 9077. Target is closing two stores in Seattle and seven others nationwide due to rising theft. The Seattle University Way store and one in Ballard will both close, although the company will continue to operate 22 stores here, including the flagship store downtown. Popular Japanese apparel maker Uniqlo will open a new store in Tacoma Mall, according to the Puget Sound Business Journal. Seattle is the chain's top online market in the US. Other stores here are at Bellevue Square, Westfield South Center and downtown Seattle. The Dow lost 388 points to close in 2016. Nasdaq fell 207 in the S &P 500, lost 64. This is Rob Smith with Northwest News Radio. JP Morgan Chase is agreeing to pay $75 million to settle a lawsuit regarding the late disgraced financier Jeffrey Epstein. Natalie Migliori reports. The US Virgin Islands alleged the New York -based bank helped Epstein, a longtime customer, sex traffic young and benefited from it. JP Morgan did not admit it did anything wrong in its settlement, but agreed to give $75 million to Virgin Island charities and the territory's anti -trafficking efforts. Another $20 million will be used to pay lawyers fees as part of litigation in New York federal court. Earlier this summer, JP agreed Morgan to settle a separate $290 million lawsuit with Epstein victims. I'm Natalie Migliori, NBC News Radio, New York. The new COVID shop rollout is running into affoons with some folks complaining they can't get their insurance companies to cover the cost. The Department of Health Human and Services says its top brass wrote to insurance companies last Friday that their obligation is to provide coverage without any cost sharing. Those on Medicare or Medicaid are also entitled to free COVID shots as well as children and the uninsured through public private partnerships. Actor Bruce Willis's wife is opening up about her husband's condition. Willis is living with dementia and his wife Emma Hemming Willis told the Today Show what it's like to be the caregiver for her husband. It's hard on the person diagnosed. It's also hard on the family. The disorder helps a person's language processing and communication abilities. Hemming Willis says it's unclear whether Bruce is aware of his condition. Health updates Sara Lee Kessler, NBC News Radio. Northwest traffic
Unchained
A highlight from With Execs Leaving and Market Share Declining, Can Binance Survive? - Ep. 544
"This is a lot for one particular exchange, any company really, but an exchange as consequential as Binance to deal with. Binance US, obviously the first thing on their mind is trying to fight the SEC and figure out a way forward. There is a world where Binance can exist where it's not quite as big as it was before. Hi everyone, welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the September 15th, 2023 episode of Unchained. Today's episode is brought to you by Overtime Markets, your premier Web3 sportsbook. The innovative protocol is changing the game one match at a time. Powered by fails, explore more at OvertimeMarkets .xyz. Arbitrum's leading Layer 2 scaling solution offers you ultra -cheap and lightning -fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. With the Crypto .com app, you can buy, trade and spend crypto in one place. Download and get $25 with the code LAURA. Link in the description. Today's guest is Stephen Erlich, editor of Forbes Crypto Asset & Blockchain Advisor and director of research at Forbes Crypto. Welcome Stephen. Thanks Laura. Thanks for having me. Just a heads up everyone. I have a sore throat in case you can't tell, so you might hear a slightly scratchier voice from me today. There have been a number of news events related to Binance over the last several months, to the point where there are now a number of questions swirling around the exchange in its future about potential regulatory and possibly even criminal actions against the exchange and its founders. And then of course, what all of this could mean for the crypto industry, if the exchange that has been the biggest crypto exchange for the last six years either falls or at the very least loses its top spot. So Stephen, can you start by giving us the main events or highlights of what has been happening with Binance over the last several months, including another big event this week that have brought Binance to really what feels like an existential point in its story? Sure. How much time do you have? Because it could take, I think this is just a 30 minute show. But no, in crypto, we kind of feel like every day is a week, every week is a year, every year is a decade, and for Binance, there's been no shortage of big news. When FTX collapsed in November and sort of left CZ as the big 800 pound gorilla that really was kind of lording over all of crypto, there were a lot of thoughts that, hey, maybe this is Binance's moment. It was already the biggest exchange in the world by a large margin, and it just became so much bigger and even more systemically significant. It's been a very difficult year for Binance. Just beginning with the fact that in the 60 days post collapse of FTX, more than $12 billion worth of customer deposits left the exchange. A colleague of mine, our terrific Director of Data and Analytics, Javier Paz, put together a report just talking about these massive investor outflows that Binance has really worked to try to stem ever since. Then the hits kind of kept coming. I believe it was in February that the New York Department of Financial Services forced Paxos, which was the issue of Binance's stablecoin, BUSD, which at one point I believe reached over $20 billion in market cap and was seen as a legitimate competitor to Circle's USDC and the biggest stablecoin of all, Tether, which has a market cap of I think $83, $84 billion or so. But DFS forced them to shut it down. I believe that order was also issued concurrently with something that came out of the SEC as well, and that was a really big hit for Binance. It might not have been quite as flashy as the suits from the CFTC and SEC that came in later, but if you're just talking about dollar terms and financial impact, it was massive because Binance was really trying to make BUSD the biggest stablecoin in the world. They had incentives to encourage trading with BUSD, and in particular, think about what people do. Obviously, Laura, you know this and many people in your audience do as well. When you have $20 billion or $40 billion or $80 billion in cash, you can invest it in treasuries or money markets that are paying 5 % annual returns, and that's an incredible amount of money that you can make virtually risk -free, especially in a market like today where trading volumes are dwindling, reserves are dwindling, it's a really nice way to supplement assets. That's one thing that happened. In March, the CFTC sued Binance for a suite of charges. A lot of it stemmed from the CFTC's allegations that Binance was operating as an FCM, a futures commodity merchant, basically saying that they're offering options and futures contracts at various digital assets without registering with the agency, which is required to do in the United States. Then, in particular, and this much like the SEC's suit which came out in June, they both talked about efforts Binance went to not only let US customers participate on the exchange, but actually help them find ways to get around geo -blocking activities that they put in to make sure that the best customers could still trade on the exchange. There's the CFTC lawsuit in March. There is the SEC lawsuit that came in June. There are rumors that DOJ is investigating Binance and they would bring criminal charges. CFTC and SEC are civil endeavors which would lead to fines and maybe bars from trading and certain activities, but obviously DOJ could bring criminal penalties if they bring such charges and are able to get CZ into custody. There's other aspects too as well. I mean, Binance has been losing payment and their banking partners around the world. Binance US in June had to become a crypto only exchange because they lost their banking partners in the US so they couldn't handle US dollars anymore. They lost their auditor in January, and then on top of that too, just a wave of executive departures going from the C -suite to country managers. This is a lot for one particular exchange, any company really, but an exchange as consequential as Binance to deal with. It's really been just an onslaught of bad news after bad news. I mean, there's been a few glimmers of new product initiatives and things like that. But a few other stats I want to throw in there are that spot volumes, like in terms of its market share, it had about 60 percent of all crypto exchange volume market share at the beginning of the year. Now, for the last few months, it's been at 45 percent and they laid off a thousand people. And then actually, let's also now mention the executive departure this week that was at Binance US. Tell us about that. Right. So Binance, as you as you rightfully said, has been losing market share. They remain the largest crypto exchange in the world, but they are losing market share in this dwindling market. I actually believe the latest numbers that came out from CC Data put Binance's spot market share at least at around 37, 38 percent. And if you're just looking at the spot volumes, they were comfortably still above 20 billion dollars daily, even at the beginning of the year. Now it's down to about 5 billion. At the peak 2021, it was over 60 billion. So, I mean, just think about exchanges make money by taking small cuts of every exchange. And if your volume goes down 80 percent or whatever. I mean, that's money that you no longer that you're no longer getting. And obviously, that's very consequential. And then with the executive departures, as you said, that's something that I know CZ has tried to gloss over. I know when we've reached out to some of the departed executives and they've either responded to us or to just public Twitter postings, et cetera, I mean, they kind of said things like, we want to take care of the family, the time is right. There was no acrimony involved, so on and so forth. But at some point, all this takes the toll. And at least with regards to Binance US, which is the US I think franchise is the term that they like to use for that particular exchange. They're in a very tenuous situation right here. I mean, even before and I'll talk about Brian Schroeder's departure in a second. I believe right now, I just checked the numbers before we recorded this. They're averaging about $20 million, not $200 million, but $20 million a day in transaction volume, 10 million of which is Bitcoin. I believe that I think they charge something like 10 basis points per trade. So if you think about that, like 20 million times 0 .1, I'm not really good at doing math in my head. I use a calculator for that, despite the fact that I'm a financial journalist. But you can just think about how little money that actually is coming in. And then obviously, since Binance US was created in 2019, there's always been issues and questions about its independence from the larger exchange and would it actually be able to find that sweet spot of separating itself in the eyes of regulators while maintaining the super sauce that is made by Binance, a love brand by many customers. And they've gone through three CEOs at this point. Brian Schroeder just resigned. I was speaking with some sources familiar with Binance US. And I was basically told that this was not a planned departure, that the 100 person layoff was, but the removal of CEO Brian Schroeder, the exit of him was not. I've also been told that it's important to kind of keep an eye off some of his key lieutenants now, because remember, when he joined, one of the first things that he did was raise a $200 million actually seed round at a $4 .5 billion valuation. And there was something Brian Brooks, his predecessor had wanted to, but he wasn't able to finish it, Brian Schroeder did. And then for part of that, that kind of saw Binance US as a growth company, he brought in some key lieutenants, chief legal officers, chief risk officers. And I think that now that Binance US is kind of moving away from obviously growth like any exchange to sort of conservation, it's important to look at some people he brought in and they may be looking to leave. And actually one of the sources I was just speaking with told me that their chief risk officer is Sydney Majala. And I want to look at my notes to make sure I don't get the names wrong. And head of legal, Krishna Jubelty have actually emails that have been sent to them by some of the other rank and file have started to bounce back. So I don't know if that necessarily means that they may have already left, but it's certainly I think it's important to now that Brian is gone, see if some of those people that he brought in after he raised this big round with a lot of high expectations, if they are going to follow suit. In a moment, we're going to talk about some of the potential regulatory or potentially even criminal actions against Binance and its executives. The first quick word from the sponsors who make this show possible.
The Breakdown
A highlight from Shockingly, Gary Gensler Doesn't Like Stoner Cats
"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 Thursday, September 14th, and today we are talking about stoner cats. 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 Breaker's Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Alright, friends, well, I have to tell you, at this point we really have about four archetypes of breakdown shows. There's number one, oh god, more cleanup from 2022. There's number two, hey look, a new TradFi player is getting in the game. There's number three, hey look, a judge or elected official is smacking a regulator down. And then there's number four, hey look, an unelected bureaucrat is trying to expand their power again. And today's show is indeed an example of the fourth, and the reason it matters is not just because it's another SEC enforcement action, but because I do really think that this represents and is a great example of that impulse to authority expansion. So what am I referring to? Well, of course, I am referring to the SEC bringing its second enforcement action ever against an NFT project. This time, the regulator targeted Stoner Cats, a profile picture NFT collection that was sold to finance a web series. The SEC alleged that the sale of collectible NFTs constituted the sale of unregistered securities. The production company behind the project settled the allegations without admitting to the SEC's findings. So the details. Stoner Cats sold out their collection in around 35 minutes at the height of the NFT bull market in July 2021. The project raised $8 million from the sale. Marketing highlighted materials Hollywood producers and big -name celebrities attached to the web series, and suggested that the success of the show would increase the value of the NFTs in secondary markets. The company received 2 .5 % of royalties from secondary market sales, which produced $20 million in volume. In the settlement, Stoner Cats agreed to a cease -and -desist order and a $1 million penalty. In addition, a fund will be established to refund investors and all NFTs held by the company will be destroyed. Gurbir Gural, the director of the SEC's Division of Enforcement, said in a statement, Regardless of whether your offering involves beavers, chinchillas, or animal -based NFTs, under the federal securities laws, it's the economic reality of the offering, not the label you put on it or the underlying objects, that guides the determination of what's an investment contract and therefore a security. As an aside, I wonder sometime if they find their own writing as clever as they seem to. Beavers, chinchillas, or animal -based NFTs, wah. Moving on, the statement reads, Here the SEC's order finds that Stoner Cats marketed its knowledge of crypto projects, touted that the price of their NFTs could increase, and took other steps that led investors to believe they would profit from selling the NFTs in the secondary market. It's therefore hardly surprising, as the order finds, that Stoner Cats sold its entire supply of NFTs in just 35 minutes, generating proceeds of over $8 million, most of which were then resold, not held as collectibles, in the secondary market within months. Carolyn Welschans, the associate director of the SEC's home office, added, Stoner Cats wanted all the benefits of offering and selling a security to the public, but ignored the legal responsibilities that come with doing so. Now, Commissioners Hester Peirce and Mark Ueda offered what has become their customary dissent against the SEC's actions. They claimed the enforcement represented a perverse extension of the SEC's jurisdiction and the borders of the Howey Test into the realm of art and collectibles. In a statement they wrote, The application of the Howey Investment Contract Analysis in this matter lacks any meaningful limiting principle. It carries implications for creators of all kinds. Were we to apply the securities laws to physical collectibles in the same way we apply them to NFTs, artists' creativity would wither in the shadow of legal ambiguity. Rather than arbitrarily bringing enforcement actions against NFT projects, we ought to lay out some clear guidelines for artists and other creators who want to experiment with NFTs as a way to support their creative efforts and build their fan communities. The Commissioners claimed the NFT project was more properly characterized as a fan crowdfunding. More broadly, they expressed concern that, through this enforcement, the SEC were attempting to exert jurisdiction over collectibles in a way they had never previously done with physical objects. The Commissioners likened stoner cats to a scheme surrounding the launch of Star Wars toys in Christmas of 1977. The toy maker sold early bird certificate packages in lieu of actual toys due to problems with production. These certificates were redeemable for toys in due course, but could also be resold for a profit in secondary markets at the time. The Commissioners asserted that, Using the analysis of today's enforcement action, the SEC should have parachuted in to save those kids from Star Wars mania. The main point of the dissent was that the SEC should not use its enforcement to stifle innovation in creative industries through the use of NFTs. The Commissioners said that, They argued that the SEC's More generally, it contributes to the legal ambiguity facing artists, writers, musicians, filmmakers, and others seeking to build a loyal, engaged following. There are a few different categories of reactions from people in the crypto community. Some honestly said that the stoner cats were not necessarily the best example to be a standard bearer for the industry. Gabriel Shapiro, General Counsel at Delphi Labs said, NFT trader, ex -lawyer, NFTs said, And the natural extension of that is any collectible that has a robust resale market — Jordans, baseball cards, comics, rare whiskey and wine, etc. — is potentially sold as a security. That is not the law, but it seems that the SEC is using essentially dicta in an order to creep its jurisdiction. Crypto criminal lawyer Carlos says injecting language like this into settlement seems to be a recurring pattern. To which ex -lawyer again responded, Obviously to us that's not true, but the SEC doesn't play fair and will take advantage of it. And indeed, this take that the SEC was overreaching here was by, in a way, the most common take. Marissa Tashman -Koppel, the Senior Counsel at Blockchain Association said, So now the SEC is in the business of regulating creatives and artists? Creating opportunities for ownership in the creative process is one way crypto and Web3 transforms how we interact online. The SEC shouldn't interrupt this process. Crypto lawyer Ujin writes, Hester Peirce emphasized in her dissent that the SEC's position limits legitimate ways for artists to make a living and she is right. Speculative sales of art are the basis for many sales of art, and that doesn't make those sales a security offering. Now still one more take was that we are seeing something of a positive pattern of dissent. Framework Ventures' Vance Spencer said, Peirce was on her own for a long time. Important to remember for something like an ETF approval, which requires three of five. Now staying on the theme of Gensler for a moment, it's like after the Senate hearing where he had to take some punches earlier this week, he had to go out and find a venue to get his own shots in. Appearing at a conference hosted by lobbyist group Better Markets on Wednesday, Gensler said, Millions of investors have been hurt in this field. It's an area that can hurt investors, but it can also hurt the broader economy because it can hurt investor confidence and finances ultimately built on trust. The conference was of course being held to mark the 15th anniversary of the collapse of Lehman Brothers, giving Gensler plenty of opportunity for histrionics about financial risk. Gensler trotted out his usual talking points, although adjusted to consider recent criticisms raised in court. Still, there was one kind of awkward and sweet moment where the host suggested that the crypto do seem to be finding some sympathetic judges recently, to which Gensler was uncharacteristically silent in response. Now, Jason Franek from Alliance Dow really sums it up. He wrote, Now, somewhat related, while presenting a speech at a conference hosted by the Practicing Law Institute, CFTC Enforcement Director Ian McGinley pressed home his agency's antipathy towards DeFi. McGinley said, McGinley presented the complete list of CFTC victories in DeFi cases, including a settlement with prediction market PolyMarket and derivatives exchange operator UkiDao. He said, All of this is to say, the CFTC has brought groundbreaking actions in the DeFi space, standing for the proposition that when offering core derivatives products based on digital assets to the public, whether in a centralized or decentralized manner, you must comply with the law. The comments came just a week after the CFTC announced settlements with DeFi trading platforms Open, 0x, and Derridex for offering quote illegal digital asset derivatives trading. The enforcement actions were widely viewed as the regulator taking on easy targets in an attempt to send a message. Indeed, the attack on DeFi was so brazen that one dissenting commissioner even openly suggested that the CFTC was quote, creating an impossible environment for those who want to comply with the law. Bankless co -host Ryan Schott Adams tweeted, The IRS is attacking crypto, FinCEN is attacking crypto, the SEC is attacking crypto, the CFTC is attacking crypto, OFAC is attacking crypto. This is what the now they fight you phase looks like. Now speaking of the fight and not going down without one, Coinbase CEO Brian Armstrong has called for DeFi protocols to take the fight to the CFTC and defend enforcement actions in court. He said in a tweet on Wednesday, The CFTC should not be creating enforcement actions against DeFi protocols. These are not financial services business and it's highly unlikely the Commodity Exchange Act even applies to them. My hope is these DeFi protocols take these cases to court to establish precedent. The courts have proven to be very willing to uphold rule of law. The only thing this is accomplishing is to push an important industry offshore. Now following last week's enforcement action against that trio of DeFi platforms, many commented that the order was a stretch of existing law. And while their cases may have been defensible, the diminutive DeFi platforms were unlikely to have had the resources to take on the US regulator, which is of course why many believe they were targeted in the first place. Now while Brian Armstrong stopped short of offering funding, many others in the space urged collective defense. Crypto law US founder John Deaton said, The industry needs to create a legal fund of some sort to help defend these winnable cases. LEO Trades amplified that, saying, Brian, if you really want to affect policy change, you and Coinbase should help create a fund for projects facing enforcement. Let's be real. Everyone is worried about the financial burden of litigation. This would honestly be a better use of resources than vague political campaigns. Now a different take was summed up by Jamison Lop, who wrote, My hope is that DeFi protocols be so decentralized that the notion of them going to court is absurd. Lawyer Jason Gottlieb wrote a thread about this as well, saying, I agree with Brian Armstrong that DeFi protocols should challenge the CFTC and SEC in court on overreaching settlement demands. The sad reality is that the agencies first attack smaller outfits for whom it makes vastly more economic sense to settle rather than litigate. We see what happens when well -funded projects go to court to fight shaky theories of DeFi liability. Cases or causes of action are dismissed, partial liability can be dropped, the dynamics are greatly changed. But the regulators start with huge advantages. They have typically worn down projects with an expensive investigation first. Even just satisfying the overbearing demands for document production in these investigations can cost six figures easily. I've said it before, I'll say it again. Every single subpoena a regulator sends to a blockchain project is one less engineering job in America and more money for lawyers. Even the lawyers who benefit from that, hi there, think that is a terrible trade -off for America. One problem is funding. The regulators can wear projects down and then offer deals that, while expensive and onerous, are better than more years of continued litigation where even if the project wins, it has massively lost time, funding runway, and momentum. Another problem is that these are people's lives. An investigation is obtrusive enough. Litigation is personally highly disruptive. For us litigators, it's just what we do, it doesn't feel bad. But for founders, devs, people just trying to build, it can feel terrible. So I would love for more DeFi projects to take the CFTC and SEC to court. And is this attorney advertising? I'd love to be the lawyer who represents them. But it costs a lot of money and it's emotionally hard. Companies that have taken on the fight have done great work protecting the space, sometimes behind the scenes in ways people won't widely know about. We need more. But not everyone is well financed and in a fighting mood. So we need to support the smaller projects financially and otherwise. Everyone who believes in the efficiency, privacy, and self -control advantages of digital assets is in this fight together. The battle over the future of crypto is the battle over the future of all digital assets. And since more and more of our lives are digital, that's more and more of our lives. This fight is far more important than when moon antics. It is literally the battle for the future of your digital life. The legal battles over digital assets are the battles over the direction of our collective future. Here, here. I think I will let Jason have the last word on that one because I can't do any better. I appreciate all you guys listening. And until next time, be safe and take care of each other. Peace.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1390: Bitcoin Will Hit $10,000,000 By This Date - Adam Back
"In today's episode, I'll be breaking down the latest technical analysis. And quoting Max, there are no TA billionaires. TA is astrology for men. You can't time the market. Nobody can. Nobody ever has. Consistently, any and all entry points for Bitcoin are therefore perfect. So hodl and forget it. Sage advice coming from the high priest. Also in today's show, China court declares virtual assets legal properties protected by the law. I'll be breaking down this big important report. As well as Ben Armstrong apologizes to the crypto community amid the ongoing BitBoy drama and hints at a comeback. Max responded to this. The crocodile tears will soon become real tears when the prison door slams shut. He also says that his recommendation to buy Bitcoin is now up over 20 million percent since 2011. Much respect. We'll also be discussing the Ripple legal team opposing the SEC appeal over the XRP decision. As well as former SEC chairman Jay Clayton says the spot Bitcoin ETF approval is inevitable despite the ongoing delays. We'll also be discussing Bitcoin OG Adam Back says Bitcoin can explode to a 200 trillion dollar market cap. Send in the Bitcoin price to 10 million dollars per coin by this particular date. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
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.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 08-27-2023 07:00
"Investment Advisors. Switch to interactive brokers for lowest cost global trading and turnkey custody solutions. No ticket charges and no conflicts of your interests at ibkr .com slash ria. On the Bloomberg Terminal. I'm Tim Stenebeck. Did you buy that 30 million dollar car? I did not. Alright, just checking. I'm Carol Masler. Have a good and safe weekend everyone. Stay with us. Today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Three U .S. Marines have been killed in a crash during a training exercise in northern Australia. Defense officials say 23 Marines were on board the Osprey aircraft when it happened early today on Melville Island north of Darwin. Three died in the crash. Five others were taken to Royal Darwin Hospital in serious condition. A statement from the Marines says recovery efforts are ongoing. The cause of the crash is under investigation. The gunman who killed three black people at a store in Jacksonville, Florida was seen at a historically black university just minutes before the shooting. Jim Forbes has more. Authorities say the gunman who opened fire at a Dollar General store early Saturday afternoon had posted a racist manifesto online and was targeting black people. Officials at Edward Waters University say the gunman was seen on campus just before the shooting and was turned away after refusing to identify himself. I'm Jim Forbes. Former President Donald Trump's campaign says it's raised $7 million since his mugshot was released. A campaign official saying Saturday they've made nearly $20 million since Trump was indicted and arraigned in Washington. They say $7 million of that was raised in the three days after Trump was processed in an Atlanta jail and his mugshot taken. Thousands gathered at the Lincoln Memorial.
The Charlie Kirk Show
A highlight from Did Fake Charities Net Dems 1.2 Million Votes in 2020? With Parker Thayer and Bernie Moreno
"The U .S. dollar has lost 85 % of its value since the 70s, when the dollar decoupled from gold, and the government seems bent on continuing the tradition. Charlie Kirk here. From now until after the elections, the government can print as much money as they want. The last time they did that, inflation went up 9%. Gold is the only asset that has proven to withstand inflation. Invest in gold with Noble Gold Investments. You will get a 24 -carat, one -fourth of an ounce gold standard coin for free. Just use promo code kirk. Go to noblegoldinvestments .com. That's noblegoldinvestments .com, the only gold company I trust. Hey, everybody. Today on The Charlie Kirk Show, Capital Research Center, Parker Thayer, comes out with an amazing report, How Charities Are Giving Democrats Political Victories. Email us as always, freedom at charliekirk .com and subscribe to our podcast. Open up your podcast app and type in charliekirkshow. Get involved with Turning Point USA Today at tpusa .com. That is tpusa .com. Start a high school or college chapter today at 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 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. Brought to you by the loan experts I trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandtodd .com. One of the most important things we can do before we come up with a plan is we have to realize what we're up against. There's so much research to be done, so much research to be done about the tech companies, the oligarchs, the changing of laws, and something that has been staring us in the face, and there's been a fair amount of surface level reporting, is how 501c3s, something I'm very familiar with, are being used to assist the Democrat takeover of the country. Now, we run a 501c3, which is strictly educational. Anything that is for social welfare or political goes through Turning Point Action or Turning Point PAC. A new report by Parker Fair shows how charities secretly help win elections. This is extremely comprehensive. It's nearly 35 pages. He's an investigative reporter, researcher, capital research center, and I believe a graduate of America's greatest college, Hillsdale College, which explains why this report is so well put together. Parker, welcome to the program. Thank you so much for having me, Charlie. You did go to Hillsdale, is that right? I did go to Hillsdale. Makes sense. Okay, Parker, so walk us through this. I've read the entire report. I saw it on Twitter last night. I immediately texted our team and I said we need to go through this. Let's first start with the 501c3 component of this, because by law, 501c3s are not allowed to engage in political activity. What did your research find? Yeah, so just kind of a quick rundown for anyone who might not understand what a 501c3 is that's listening. 501c3s are charities, nonprofit organizations that have tax exempt status from the IRS. Think of your local church, that's a 501c3. Like Charlie said, Turning Point USA, that's a 501c3. Hillsdale College. Hillsdale College, there you go. Another excellent 501c3. What these 501c3s were doing that I found early years ago, this is the result of years of research, I found an organization called the Voter Registration Project taking in tens of millions of dollars every single year and distributing them to various state -level 501c3s that were doing exclusively voter registration. I dug around. I couldn't find any information about this. Nobody had talked about it. The media didn't talk about it. Nobody even seemed to know it existed. As I kept digging, I kept finding more interesting things. Eventually, I found emails on WikiLeaks from John Podesta's leaked emails back in 2015 that showed that this organization, going by the name of the Everybody Votes Campaign, which they didn't really share publicly until almost 2021, had been designed as a scheme essentially to guarantee a Democratic presidential victory in 2020. They were aiming to register millions of people in swing states and Democrats. So, Everybody Votes Campaign is scheme sent to John Podesta, head of the 2016 presidential campaign. And you detail the, first of all, the amount of money is $120 million. I think it's even more than that, but you're careful of just what you're able to prove. Is that right, Parker? Yeah. I mean, this is all we, I can't even tell you at CRC, we pride ourselves on doing excellent fact -based research. This has gone through many rounds of editing from very skeptical editors, $120 million in the 2020 cycle. They've raised more than that to date. But that's, you know, this is very provable and it's from all of the worst lefty billionaires and dark money organizations you can imagine. So, based on your research, these 501c3s that are prohibited from political activity, do you believe that they are, let's just say, pushing the boundaries and or outwardly violating the nonpolitical rule from the Internal Revenue Service for a 501c3? If there was a line over what they could do, which the IRS doesn't seem to enforce at all, but if there was a line, they crossed it very long ago. The IRS website says that these voter registration campaigns are prohibited from being partisan in either intent or effect. And I was able to prove both according to the estimates, which we ran based on, you know, leaked documents in these Podesta emails and from other sources. This campaign generated somewhere in the range of one to two million votes for Democrats in the 2020 cycle. One to two million votes in Nevada, Arizona, Colorado, Florida, Georgia. But let's just be more specific. Florida, I don't think they spent as much money. It's mostly Arizona, Georgia, Pennsylvania, Wisconsin, Michigan. Is that correct? Michigan, a little less so. But yeah, these are, it's exclusively swing states. They weren't, the campaign is called Everybody Votes. They didn't care about everybody's vote. They only cared about the swing state votes and only the votes that would benefit the Democrats. Yeah, if it was Everybody Votes, why weren't they doing voter registration in Louisiana? They weren't registering people in Alaska. They weren't in Oklahoma. Yeah, I mean, so this is, I want to read part of your report. By the way, this is what people say, Charlie, you know, where do you spend your money? I love Capital Research Center. All these DC think tanks, most of them are a waste of time. This is a report that will result in good things because now we have the data, right? Now, no more guessing. So I want to read this. This is, yeah, I saw that and I have some feedback. They've got to be careful to make sure those rules aren't wrongly enforced against the right, but that's a separate issue. But no, I saw, I saw Schweikert's letter. It's mostly good. But by the way, before I read this, in Schweikert's letter, foreign people might be funding this stuff. Is that correct? Exactly. People like Hansorg Wyss, if you've heard of him. Swiss guy. He's this four billion dollar crazy person from Switzerland who is funding 501c4s as well, right? Parker, not just C3s. We'll get to the C4 in a second. Yeah, he's the left's dirty little secret. They don't want anyone talking about him. Exactly right. Tell us about him. No, no riff on that. Oh, yeah. So Hansorg Wyss, he made his money as the, I believe, president and CEO of a company named Synths USA. They got in a lot of trouble for running illegal medical experiments. But he made, you know, millions of dollars and was then I think billions of dollars even. And it was eventually around 2009 was caught making illegal campaign contributions to Democrats, even though he was not a US citizen, doesn't even have a green card, according to his SEC filings. But he uses these 501c3s and 501c4s that we're talking about to put tens of millions of dollars into US politics in unbelievable ways every single year. He does not have a US passport. Everyone is clear. This guy is not a green card holder. He doesn't have a US passport. He's a foreigner who pumps money into domestic 501c3s, 501c4 organizations, hundreds of millions of dollars, correct? Over the last decade. Yeah. Well, and wouldn't you know it, this guy's foundation, that email I talked about where I found this initially from Podesta, this guy's foundation, Hansorg Wyss' foundation, was the one who initially sent him this idea for the VRP in the first place. And you're the only one that I've seen that has connected the Podesta stuff. By the way, Podesta just so happens to be running a press conference today. So I want to read this. This is the tough research. Again, this is public, but this takes hundreds of hours of consolidation. The billionaire club comes from Susan Thompson Buffett Foundation, the private foundation of Warren Buffett, $5 million. Foundation to promote an open society endowed by George Soros, over $10 million. Then Register America because of 501c4. Now, 501c4, they're more in safe harbor for political involvement in social welfare. But you have the Civic Participation Action Fund, the Wallace H. Coulter Foundation for deceased billionaire founder, the JBB Foundation, PB Foundation for billionaire Barbara Picower, and her late husband go on and on and on. You have pages of this. It's striking how the party allegedly of the little guy has so many billionaire oligarchs pumping millions of dollars of dark money into it. Yeah, these 501c3s are the left's, you know, they're their artillery battery that's just sitting back there delivering unbelievable amounts of money to the left's causes. According to the CRC studies, the studies that we've done of the spending in these 501c3 areas where private billionaires, private foundations, and things like that are putting money into politics. You know, the left's 501c3 power money -wise outnumbers the right almost three to one. Yes. This is where the money is really moving in American politics. This is what's so important, everybody. And by the way, they always project, right? So ProPublica, a bunch of interesting people, they wrote a piece on Turning Point USA. Yeah, they wrote a piece on us three years ago trying to insinuate that we weren't in a, you know, following 501c3. Not true, right? But they go hostilely aggressive against anything on the right. By the way, we do stuff on high school and college campuses, strictly education, all that stuff. And we have a C4. And yet they won't even lift a finger to look into this. And so let's talk about the consultant part of this. Tell us about it. So around 2020, I believe the number was about $20 million, if I'm remembering correctly. The VRP, or also known as the Everybody Votes Campaign, which is this 501c3 we've been talking about, dumped millions of dollars into what are basically just Democratic consultants to do supposedly nonpartisan voter registration work. How that works with a Democratic consultant, you know, that works for the DNC and the DSCC is doing nonpartisan voter registration consulting, I don't really know. But, you know, one of those consultants that's been in the news lately is GBI Strategies, which got in some trouble in Michigan recently. I don't know if you've heard about that. Oh, we did. We covered it.
Overthrowing Education
A highlight from Batsheva Frankel Wraps it Up
"And just as two things that I was thinking about, but one directly related was that even with all the ways that we teach there, whether it was art or now qualia, students do get into really good schools and, you know, the ones they get to go to the ones they want to and the ones that are good for them. And a lot of those are, you know, really great schools that I should say, they're probably all really great schools. Just, you know, the ones that have these reputations of being, you know, with the Ivy Leagues and stuff. Yeah. And I think that's another, you asked about shifts. I think that it's very clear to us, you know, we graduate these kids, we don't have APs, I'll quit before we offer, you know, before we purchase a curriculum from a, a for -profit, I don't know that they're for -profit, but from a large corporation. They are. It's the college board. Yeah. Yeah. Our teachers are smart enough to create their own curriculum in, you know, in concert with the students. But our kids don't have that sort of 1990s, you know, I took these six APs just like, you know, that the other 20 million kids that applied this year. But they have a, an extraordinary resume of self -directed academic projects that are not frivolous in the least, including a very deep senior thesis experience program also where they, where they also mentor younger students, have an opportunity to teach something they're passionate about. And that's just carried the day for, you know, as far back as I can, I can think in the history of the school, but especially recently, I feel like with standardized tests becoming, you know, optional at a lot of places, including the university of California, which is a still a jaw dropping realization for me, right. That there's more and more looking at the actual child. And if, if your child has, you know, scholarly fervor to, to coin an awkward term, if there's a kid that is so excited about learning and they're still excited when they're 18, it hasn't been beaten out of them. And you have a resume of writing and presenting experiences to back that up. I think you're, you're operating in the real currency of academia, right? So, you know, professors aren't promoted through multiple choice exams. And so I think that... Neither are most people in their jobs. Yeah. Yeah. How about that? I know, right? So I think that that's another, you know, another place where I'm, I'm optimistic is that the institutions that we've, for better or worse, given the power to arbitrate what's, you know, what counts as smart, are getting it right more and more. Yeah. Yeah. And I think that's, that's great. And I think that bodes well for the types of freshman classes that they're, they're going to get. I think it's great for them. I think it's great for, for kids. And I think it may trickle down to teaching the, you know, the parents as the consumers or the sort of important decision makers in their kids' lives might trickle down to them wanting their kid to have that resume of deep learning experiences, as opposed to the transcript of, you know, more or less meaningless letters and numbers. Right. Right. Exactly. Well, that brings us to kind of my next topic, which is talking about what some of the most important, I guess I'll use the word again, topics or themes are that you think are important. And certainly the ones that I have are very much reflected on this podcast. Like what, what would your. Yeah. I mean, we're, we're on one right now. It's student empowerment. Student empowerment in, in the educational setting, in the individual classroom setting and in school -wide setting. And I'm not just talking about the student body president and. Right. Secretary and treasurer and, you know, five. Right. Five weird kids who, who, you know, who care about the school at large. By the way, I just want to say when we say weird kids, we usually, that's a very positive thing. Yeah. I mean it in quotes. Yeah. In the best way. Maybe they're unfairly perceived as weird, not by me. Right. Yeah, or us. Cause they actually care. Yeah. We use that in our own, in our own sort of way, but, but yeah. Getting, getting, uh, getting kids to demand better education. I would say is one I'll throw that one out. Yeah. Yeah. I'm going to say that for me, it was something that I got from working at Arte, which is, uh, going gradeless and grading. And we've worked, we worked with many different kinds of iterations, but, and we've talked about this even with you, I've talked about this on the show. And we've talked about it all the time. I have many, many, many episodes on it because I think it's probably one of the most important things that could happen in education is that we stopped grading our students and we start giving them just feedback, working towards mastery. You know, just to me, that's, that's what causes students to become curious and interested. It doesn't, you know, it makes all the difference. And I also say like, I never had kids really cheating. Why? Like, why would you cheat? You're not getting graded. What system are you trying to beat? The system where you, uh, grapple with ideas and, and enhance the quality of your life. I think that it, you know, maybe, uh, the way that the ungrading thing could be glossed would be creating great independent learners, creating kids that just don't care about grades. Even if there are grades, their, their motivation is not coming from there. I think getting rid of the grades really helps the kids to not fall into the trap of doing things to please the teacher or, or even worse, doing things to get the grade or get the assignment out of the way. It's really what we're aiming for is a motivational system that is sincere and authentic. Right. So that's a big change to me. If somehow we were able to do that, I think we would see a lot of other really positive changes kind of fall into line as well. And you know, of course, obviously the assessment process altogether, like, you know, I'm, we, we used to have a thing when we did the, do you remember when we did the open houses and we said, it said something like, I really loved that final I took, or I really loved that test that I said, no one ever or something, whatever. I can't remember what it was, but I loved that we were just so upfront.
Mark Levin
Townhall: The Biden Family Bank Statements Have Landed
"The committee says Hunter Biden sold him as the brand to read millions from oligarchs in Kazakhstan Russia and Ukraine appears no real services were provided other than access to the Biden network including Vice President Biden himself and Hunter Biden seems to have delivered this is made clear by kneels at Cafe Milano in Washington where then Vice President Joe Biden dined with oligarchs from around the world who had sent money to his son it's clear Joe Biden knew about his son's business dealings and allowed himself to be the brand sold to enrich the Biden family while he was Vice President of the United States the House Oversight Committee says Comer will continue to follow the money trail and obtain witness testimony to determine whether foreign actors targeted the Bidens President Biden is compromised or corrupt and our national security is threatened by the way this Sunday we're going to have in addition my of opening statement Alan Dershowitz for two segments where he'll be free to talk at some length and Miranda Devine for two segments who will also be free to talk at some length not line a conga of guests not interruption I don't I don't I don't go that way corner their memo released by Comer the Biden family received over $20 million in foreign transactions the payments were distributed to multiple members payments were hidden as you know through shell companies and funneled through 100 Biden's business including Devin Archer, Archer and Biden earned $6 .5 million dollars from Burisma alone and by the way they got their money's
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1366: BlackRock Insiders Say Bitcoin ETF Likely 6 Months Away
"In today's episode, I'm gonna be breaking down the latest technical analysis, as well as Bitstamp delists many altcoins, specifically for US customers. We'll also be discussing Bitcoin isn't going away, says $385 billion Wall Street giant, the Carlyle Group. That's right. We'll also be discussing Quant Analyst Plan B, creator of the Bitcoin stock to flow model, says history is suggesting a two year long Bitcoin rally approaching after critical indicator turns bullish. Send it. We'll also be discussing BlackRock, the world's largest asset manager. Their insiders say the Bitcoin ETF is likely only six months away. I'll be breaking this down for you. As well as BlackRock and Coinbase deal can trigger a Bitcoin burst to $773 ,000 per coin, according to Invest Answers. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. 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 rumble channel at cryptonewsalerts .net. Again, that's crypto news alerts .net. And welcome everyone just tuning in. This is pod episode number 1366. And on X, this is live stream number three on rumble. Maybe we're up to live stream number nine. It's hard to keep count. I'm your fearless leader, JV. And today is August 9th, 2023. Let's kick off today's show with our market watch. You should be able to see on your screen. We've got Bitcoin currently correcting down 1 .6%. Yesterday we recaptured 30 ,000, but unfortunately it was short -lived and we dropped right back down to currently where we sit at 29 ,400. As you can see Ether also correcting down a half a percent, trading at $1 ,850. XRP, one of the few alts actually in the green right now. And checking out coinmarketcap .com, the current crypto market cap sits at 1 .17 trillion with about 38 billion in volume in the past 24 hours. The Bitcoin dominance is 48 .7 % with the Ether dominance at 18 .9%. And checking out the top 100 crypto gainers in the past 24 hours, Aptos leading the pack up almost 11%, trading at $7 .45, followed by Chainlink up almost 4%, trading at $7 .66, followed by XRP up about 3%, trading just above 65 cents. And checking out the top 100 crypto gainers for the past week, you can see a mix between a sea of green and red. Some of the biggest losers include OPMNT and PLS with the top gainer being Aptos up 11%. And checking out the crypto greed and fear index, we're currently rated a 50, which is neutral. Yesterday was a 54 and last week a 53 neutral and last month a 56 in greed. So there you have it. How many of you currently bullish on the King Crypto? Let me know in the comments right down below. And now let's break down today's technical analysis. Check out the charts and what is popping with the King Crypto BTC. Bitcoin consolidated at a key flip zone August 9th as Bitcoin price strength staged a sudden return, which you can clearly see here in the Bitcoin one hour candle chart. Data from Cointelegraph and TradingView showed Bitcoin trading near 29 .8 after a surge during the previous day's Wall Street trading hours. That followed a recovery from the local lows under 28 .7 and topped out only after a trip to 30 ,200, which was yesterday. Bitcoin's highest August price thus far. The rapid change in moods soon impacted market participants' expectations for the market. Quoting analysts here, that indeed was the higher low. Bitcoin continues to maintain a bullish market structure, said popular trader Jelly. He also said it needs to break 32 ,000 from here. Let's see if this bounce has any legs. And he makes a good point. I think once we break 32 personally, there's not much resistance between there and 40 ,000. And he shows us a bullish outline where the level to break so we can continue marching forward. Jelly additionally noted that on the one day timeframe, Bitcoin completed a bullish cross on the Moving Average Convergence Divergence indicator, quoting him again. Another item we can add to the list of bullish signals, he commented. And the day prior, crypto analyst Michal Venday Pop stressed the significance of 29 ,700 as he shared here. Bitcoin party starts when we break 29 ,700. Until then, it is just consolidation. Part of the day's analysis argued when Venday Pop subsequently added that Bitcoin was close to doing so. And quoting Rec Capital, Bitcoin is pressing beyond the 29 ,250 level, which is positive. But historically, we have seen upside wicking beyond this level to the 29 ,900 to 30 ,100 resistance area. He also says this time thus far, Bitcoin has upside wick to 32 ,000, 30 ,200 that is. Bearish is the rejection, is strong enough to push the price down to 29 ,250 and weekly close below there. However, if Bitcoin would be able to dip into 29 ,250 and hold it as support, that would be a more bullish price development. Now, let's discuss the whales getting active, analyzing the impetus for the higher spike. Observers soon noted increasing buying amongst various classes. A Bitcoin whales, as pointed out here by material indicators, fire chart shows the moment purple whales decided to convert a $20 million Bitcoin bid ladder into the market orders that started this rally yesterday, purple continued buying upwards of 50 million so far. And meanwhile, a brown mega whale just joined the party with a $2 million market buy order. And quoting SCU Analytics, shorts given up already. This bounce here on the low timeframe is driven by shorts closing out on coin margin and USDT margin over open interest down in perpetual delta CVD up, letting this low timeframe range balance out some more. And a SCU further noted whales require quite thick liquidity to exit or close positions. And most often this is during a squeeze event. Let me know if you agree or disagree with the analysts. Now I actually wanna share with you a tweet, which I shared on crypto Twitter, I believe just yesterday, which was getting a lot of buzz and traction regarding Max Kaiser and the recent censorship on YouTube against Bitcoin creators. I wrote the following, when I arrived to Twitter, September of 2019, I maybe only had a couple of thousand YouTube subs and my tweets got virtually zero engagement. Max Kaiser was the only influencer to retweet my content at the time, which provided me with a massive beacon of hope as he's always been hands down. My favorite Bitcoin content creator via the Kaiser report along with Stacy Herbert, the Kaiser report still to this day is the greatest financial news show to ever exist and credited with the very first international TV mention of Bitcoin back in 2011. Max literally called it the biggest story of the decade, quoting him here, this is the greatest achievement of the global insurrection against banker occupation. Bitcoin is the currency of the resistance. And he also said, YouTube took down 900 hours, 1800 episodes, 13 years of work, including the first extensive multi -year international coverage of Bitcoin via the Kaiser report because we've reported on some inconvenient truths and deep rooted corruption about the US economy and banking system. How many of you were fans of the Kaiser report and are missing the Kaiser report now that it has been scrubbed off of YouTube? Let me know in the comments right down below. And now what I wanna do is actually play for you an interesting soundbite, a rant that is classic of Max Kaiser and his rage against the bankers and central bankers, et cetera. This is classic Max Kaiser in his rarest form. So here we go. Wall Street is fraud, America is fraud, the world is fraud, banks are fraud, central banks are fraud, we live in an era of fraud. It's all based on fraud and they get a percentage of the fraud, that's the business model. To suggest that there is any moral or ethical aspect to anything that's going on now is to be completely naive about the fact that we live in an era dominated by financial terrorists. Terrorists, terrorists, jihadis of banking. They're here to kill you and themselves. They don't care because they're trained at madrasas called Princeton, Harvard, and Yale. They believe in an ideology, not the Koran, but Adam Smith, that they completely misread and interpret as something to justify their blowing themselves up. And the cost of terrorism is cheap. 9 -11 only costs $500 ,000. The ability to borrow money and take over a company by Warren Buffet is zero. He's borrowing money at zero. He's taking all those jobs away. He's creating economic destruction because they're fighting against terrorism. And that's the era that we live in today. Why are we gonna stop it? There's only one way to stop it. Race interest rates right now. Make the cost of terrorism too high. Do it today. If you don't, you're a fucking terrorist. Jada Yale is a terrorist. Mario Draghi is a terrorist. The Central Bank of Japan is a terrorist. These are the real terrorists, not the immigrants, not the people dying in the water. Hey. Hey. Hey. So yeah, massive shout out to Max Kaiser. He is the man, has been doing his thing for over a decade, warning people about the fiat corruption in our society. So you gotta give massive respect where respect is due. And with that being shared, now let's dive into our next story of the day and discuss Bitstamp, which is a crypto exchange delisting several altcoins, which is pretty interesting. Obviously for them to do that, they must be getting some pressure from regulators such as the SEC. So let's discuss which cryptos were just recently delisted off of Bitstamp and curious, how many of you have ever used this crypto exchange before? Do let me know. So here we go. Bitstamp says the decision comes as part of the continuous elevation of its crypto offerings taken into account the changing regulatory environment of the US. New orders for the seven cryptos to be disabled on August 29th and existing orders will be canceled according to the exchange. And it's interesting, will other exchanges do the same thing is the big question. However, US customers will be able to hold the asset in their Bitstamp accounts and withdraw them at any time. The exchange recommended users execute any desired buy or sell orders for the affected assets before the August 29th deadline, meaning you got 20 more days fam. So be quick about it. To ensure a smooth transition during the trading halt and after that date trading related to AXS, Chili's, Mana, Matic, NEAR, SAND and Solana will be permanently disabled for US customers on Bitstamp. So despite delisting those assets for US customers, Bitstamp noted it would continue offering up to 30 available cryptos to trade on its platform. The exchange said it remains committed to providing a comprehensive range of trading options even with the halt for US users. Now Bitstamp is not the first major crypto to platform to the list assets due to regulatory environment of the US. Earlier in the year trading platforms like eToro, Robinhood and Bakkt also remove support for certain cryptos. The harsh regulatory climate has led many exchanges to limit their offerings in order to comply with American rules and avoid potential legal issues. So there you have it, as the crypto crackdown as they entitled Crypto Choke Point 2 .0 continues. So yeah, you guys let me know. At the end of the show, I'll be reading everyone's comments out loud in our live and interactive Q &A session, which we do each and every day. Now for some big news coming from the Carlyle Group. I'm sure you have heard of them before. As you can see here, they share that Bitcoin isn't going away, says $385 billion Wall Street giant, the Carlyle Group, and you should be able to see my screen now. You can see here the chairman says the mighty BlackRock is willing to have a Bitcoin ETF. So maybe Bitcoin is going to be around a while longer. And I actually wanna play this clip for you here today. You should be able to see my screen. Let me grab this sound bite and you can hear it first and foremost coming directly from the Carlyle Group themselves. Here we go. This is perfectly timed because Novogratz has been the pinata of Bitcoin when it goes down. It's been the genius of Bitcoin when it goes up. And all of a sudden, Larry showed up at the door to say, hey, big, respectable firms can prosecute and do Bitcoin. Link Lawrence Fink of BlackRock to Mike Novogratz. Well, what's happened is people, as you suggest, make fun of Bitcoin and other cryptocurrencies, but now the establishment, Larry Fink at BlackRock, is now saying they're gonna have an ETF if approved by the government in Bitcoin. So you're saying, wait a second, the mighty BlackRock is willing to have an ETF in Bitcoin, maybe Bitcoin's gonna be around for a while. Lisa wants to jump in here, but I'm gonna cut to the news moment. Is Carlyle announcing this morning a Bitcoin advocacy? No, I don't think so. But there's no doubt that Bitcoin is something that I wish I had bought it at $100 a Bitcoin when Mike Novogratz started buying it. It's now at $29 ,000, so he's made a lot of money. And a lot of people who bought it at the $100 or less are feeling pretty good. Now, it went up as high as $61 ,000, I think, even down to $31 ,000 or even $29 ,000 now, it's still a pretty good profit if you bought it at $100. We all wish we would have bought it at $100. And to write it up, it's one thing for BlackRock to come up with an ETF because they believe the proposition of Bitcoin. It's another because they see a profitability proposition where they can basically take advantage of the interests other people have. I mean, isn't that more of what this is, that basically Wall Street is saying, if there is a market for it and we can viably make one for them and make some money, why not? Well, remember, Wall Street is in business to make money and this is something they can probably make money off. You have to remember, the United States government has been somewhat skeptical of it. I think Democrats in the Congress and particularly the people regulating the SEC are skeptical of Bitcoin and other cryptocurrencies. And that is correct. His billionaire wishes he bought Bitcoin at $100. But outside the United States, there's a lot of interest in it. I think FTX really hurt when it went bankrupt and it hurt the crypto industry. But a lot of people around the world wanna be able to trade in a currency that their government can't know what they have and they wanna be able to move it around, rightly or wrongly. And so I don't think Bitcoin is going away. I think the Republicans on Capitol Hill have been pretty supportive of it. There's a difference between having a seamless cross -currency payment, basically saying that instead of going to Western Union, I can go and just transfer something in Bitcoin if it has a stable enough price. That's one proposition. But the proposition of Bitcoin as a store of value that could kind of be bid up the way that gold or silver could seems to have been parked with the advent of yield suddenly that you can get for actual money. I mean, isn't that sort of the feeling that you're getting? Well, there's no doubt that when interest rates are as high as they are, you don't need to have gold or other kinds of things to get you some solid return because when you get 5 % on treasuries, but eventually 5 % will be coming down at some point. I don't think Bitcoin or cryptocurrencies that are the better ones, the better known ones, Bitcoin and a number of others are gonna go away. There's enormous interest around the world in being able to have something you can transfer without the government knowing about it and keep it private. And you can say people shouldn't do that, but that's not gonna stop people from doing it. Mr. Novogratz and Mr. Gensler, what did you say about the efforts of our chairman of the Securities and Exchange Commission? Gary Gensler, who's the chairman of the SEC is not a big fan of cryptocurrency, I think that's fair to say, but he lost a major case recently in court where he was trying to argue that one of the cryptocurrencies ripple was a security and he lost that case. So I think the SEC has not been able to convince these the government yet, or at least the courts that cryptocurrency is such a dangerous thing. And I remember a lot of people in the government now are thinking that Gary Gensler won't be the chairman of the SEC forever. I mean, these guys just wait them out, right? I think that's a strategy that's very popular in Washington, waiting out regulators you don't like. There you have it, you heard it from him first, waiting out regulators they don't like, such as Gary Gensler. So for BlackRock and the Carlyle Group to be all bullish in and all in on Bitcoin is obviously a pretty fricking big deal. So that goes to tell you what's about to come here in the future. And in a bit, we're gonna be covering Novogratz specifically about talking Bitcoin ETF likely being approved within the next six months, which means before the Bitcoin halving, which is obviously a big deal and we're all anticipating that as well for fireworks coming after that halving. So with that being shared, now let's actually break down our next story of the day and discuss this potential two year long rally according to Plan B, creator of the Bitcoin, Stock the Flow Model, here we go. And shout out to Plan B by the way. Closely followed quant analyst says, the Bitcoin has crossed the key resistance level that historically kicks off multi -year rallies. Synonymous analyst tells us almost 2 million followers on X. The Bitcoin's five month realized price crossed the two year realized price, which is a pattern that previously marked the start of the bull market three times in the past, quitting him here. Five month realized price is now above the two year realized price. If history is any guide, it will stay above for the next two plus years. Interesting times ahead. Now the realized price metric measures the value of all of its tokens as the price they were bought divided by the number of tokens in circulation. So during the bull market, the crypto king's price tends to remain above all its realized prices according to Plan B. He predicts the Bitcoin will not revisit prices below the 30 ,000 level if the bull rally is underway. Quitting him here on crypto Twitter, not buying Bitcoin at less than 30 ,000 now is like, not buying Bitcoin at less than 10 ,000 in 2019 and 2020, and not buying Bitcoin at under $500 in 2015, 2016, and not buying Bitcoin at under $10 in 2011 and 2012, life is all about choices, preach. Now Plan B is also keeping a close eye on the RSI, a widely used momentum indicator that aims to determine if an asset is overbought or oversold. He says the indicator is setting the stage for a big rally similar to that of 2015 as outlined here, like clockwork, exact same spot as October, 2015. The analyst previously predicted the Bitcoin would hit $50 ,000 before the next halving event, which is expected to be in April of 2024. Let me know if you agree or disagree with Plan B. With that being shared, now for the latest regarding the BlackRock ETF potentially being approved by the SEC within the next six months as per Mike Novogratz. Let's break this down. Here we go. US's first spot Bitcoin ETF could be approved sometime before February, according to Galaxy Digital CEO, Novogratz, citing sources at BlackRock and Invesco. Quitting him here, it's a big deal. It's a big deal because both our contracts from the Invesco side and from the BlackRock side get you to think that this is a question of when, not if. That the outside window is probably six months. Novogratz told shareholders during the Galaxy August 8th quarter two earnings call where the digital asset company reported a $46 million net loss as shared here. This is probably six to four months or four to six months if you had to put a pin to tell him the donkey on it that the SEC is going to approve a Bitcoin ETF. Novogratz's Galaxy Digital is one of the many contenders for a spot Bitcoin ETF, which it reapplied for in June in conjunction with the 1 .5 trillion asset manager, Invesco, the fourth largest ETF issuer in the US. And as Eric Valchunes points out here, according to contracts from inside BlackRock and Invesco spot Bitcoin ETF approval is a matter of when, not if. Likely in four to six months, Galaxy CEO Novogratz on the earnings call this morning. So that's quoting Novogratz directly. And speaking of shareholders, Novogratz said he wouldn't have a comment on the expecting timing of the ETF approval, which is an unknown as it sits in the SEC. Now, however, he believes that once approved, the spot Bitcoin ETF issuers such as BlackRock and Invesco will be fighting tooth and nail for market share. As he outlines here, the news of both BlackRock filing the ETF and quite frankly Invesco plus Galaxy, we are going to fight like cats and dogs to win the market share there once it gets approved. And in response to a question, Galaxy Digital President Chris Ferraro added that he wouldn't be surprised if the SEC ends up approving a potential Bitcoin ETF to avoid being labeled an obstructionist because they have no choice, right? They've been denying the ETF in the US for over a decade, just FYI, quoting him here. I think that's where the potential ETF approval comes in saying, hey, you can't call us anti -crypto, we just approved an ETF. And so we are hoping that that's the same for our filing. Meanwhile, some analysts believe the wave of spot Bitcoin ETFs could come sooner than later, depending on how the judge rules in Grayscale's lawsuit against the SEC. As you know, Grayscale last year sued the SEC for rejecting its app to convert its Grayscale Bitcoin Trust GBTC product into a spot ETF. As Craig Salom shares here, if the SEC loses its case against Grayscale, as we expect, the path of least resistance would be a wave of simultaneous approvals for all spot Bitcoin ETF apps, including Grayscale and the other eight active filings. Let me know which ETF you feel is likely to be approved first by the regulators. Now, analysts believe that should the SEC lose its case against Grayscale, the path of least resistance would be simultaneous approvals for several or all spot Bitcoin ETF apps, which include ARK Invest, Cathie Wood and all the ones previously mentioned here in this article. What are your thoughts though? Let me know in the comments right down below. Now let's discuss a potential $773 ,000 Bitcoin price target based off the BlackRock ETF and their partnership with Coinbase. This was actually predicted, I believe, in the latter of last year before there was even all of the recent news of BlackRock refiling for their spot ETF application. And then we'll dive into our live Q &A as soon as we finish this final story. So here you go. Popular crypto analyst breaks down how the partnership between two financial giants can trigger Bitcoin explosion to $773 ,000 per coin. If you'd like to see that turn into fruition, let me know in the comments. Last week, US -based crypto titan Coinbase announced teaming up with BlackRock, as we know is the largest asset manager in the world. And here's what Invest's answer, shout out to him, told his audience, if BlackRock just put a half a percent of their assets under management into Bitcoin using my multiplier, which is 21X, that will impact the market cap by over a trillion dollars, which will add about $75 ,000 to the Bitcoin price, taking it to 98 ,000 and a return on investment from today's price of 326%. This is very, very achievable. Now, if they allocate, let's say 1%, which of course will take time to get to that level, that would be adding 2 .1 trillion to the market cap, $150 ,000 to the price. And that would take the future price of Bitcoin to 173 ,000 per coin, which is a 652 % gain from here. And if they add 5%, which is what Dan Tapiero says, I think it is way too aggressive, but maybe over time, maybe in the next three to five years, that would be possible. That could take the Bitcoin price to $773 ,000 and the next three to five years pretty easily. Now, the crypto strategist's analysis was inspired by comments from 10T Holdings CEO, Dan Tapiero, and according to the prominent macro investor, the deal between BlackRock and Coinbase could propel the Bitcoin price above 250 ,000, quoting him again, chart that got BlackRock excited about the partnership with Coinbase, quoting them here alongside this chart, no bigger a macro opportunity for BlackRock than acting to facilitate Bitcoin adoption. A 5 % shift in BlackRock assets is $500 billion, greater than the Bitcoin value today. So the catalyst for the path to 250 ,000 -plus post -Bitcoin halving is becoming clear. So there you have it. Let me know if you agree or disagree with this analysis. 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. People.
Coin Stories with Natalie Brunell
A highlight from Michael Saylor: Spot Bitcoin ETFs, The Halving & Bitcoin's Next Bull Run
"So the difference between Bitcoin and the spot ETF is profound for the institution. Now, the spot ETF is one to one leverage. You put a million dollars in and you got a million dollars of Bitcoin. And it's probably a fee anywhere from 50 to 100 basis points. So that means that every year you're going to pay up to 1 % of your assets in order to hold that position. So what that means is over an indefinite time period, that means that 20 % of your assets go to the trustee or the operator of the ETF or the money manager. So when you buy the Bitcoin directly, you might be able to get in size, if you used a custodian, you might be able to get to five basis points a year of a custody fee at a billion dollars or more. If you're a spot ETF, 50 basis points would be the cheapest. So five basis points times 20 means that if I buy a hundred million dollars of this, I pay a million in custody fees over the lifetime of the asset. And on the other hand, at 50 basis points, then when you buy a hundred million dollars of it, you have to multiply that by 20. And that means over the course of the duration, you pay $10 million instead of 1 million. So it's more expensive to go through that operator. Now, the other advantage of having the ETF is there will be an options market and a put and call options market. And that means that you sell volatility and generate yield of some sort by giving up upside, or you can hedge downside. It's not a strong options market, but it is an options market. Now go to the futures ETF. The futures ETF is probably double the cost of the spot ETF. And so now you're talking about, instead of paying 10 million over the course, you're paying $20 million. So you've gone from $1 million to $10 million to $20 million in manager fees. So it's gotten more expensive, but that's not the big cost. The big cost is you have a hundred million dollars invested and you lose 20 % performance. So you've lost 20 million a year for five years and you're losing all a hundred million over five years. If you want to use a snarky phrase, you would say, the spot ETF is like you've bought the beautiful house across the street and the bank finance that all, but the futures ETF is you bought the same house, but it's on a lot with a sinkhole and the entire thing is going to sink into the sinkhole in five years. And it's collapsing. So you can see, you don't really want to make your financial foundation on sinking sand. And that's what the futures are right now. And there's no reason to think it's going to change. We don't see it. So then you go to Grayscale. Grayscale is a closed -in trust or a closed -in fund, which means that they're unable to sell the Bitcoin to buy their own shares. If you were in a true ETF, if the net asset value gets out of whack with the share price, then you sell the Bitcoin to buy the share. And otherwise you sell the share to buy the Bitcoin, but you're keeping sort of a one -to -one arrangement.
Crypto Banter
A highlight from Why Curve Could Trigger A Devastating Market Collapse w/ Jordi Alexander
"I'm joined by Jordi Alexander, founder and CEO of Selene Capital. And today we are going to discuss everything DeFi in the midst of a lot of curve drama that's been happening over the last few days. Jordi, welcome to the show. Good to be here. Yeah, it's been crazy drama. It's been absolutely nuts. So I did a thread on my Twitter, which provided like a bit of a breakdown, basically summarized that curve was hacked for 62 million. Michael, the founder is at risk and I believe still is at risk of a $100 million position. What do you make of all this? I know it's a hard one to summarize, but what are your first impressions of all of this curve drama? Yeah, I mean, you have like a confluence of events that is basically making us realize that when there's one huge token holder and they've gotten a loan against their tokens, you have these tail risks scenarios, right? Like what if the token just completely goes away and leaves everybody with a massive amount of debt? And it's such a centrally held coin that we were starting to see an action that somebody has to either come up with the money or else you get like a reverberation of bad debt throughout the ecosystem. And this was something that DeFi was supposed to avoid, right? Like when we had three arrows and all these kind of like things happening last year, people were saying that this is part of the centralized system faults. But now we're seeing that DeFi has to also get designed, otherwise it happens there too. So essentially what's happening to my understanding, and I wrote a thread, so hopefully I have some sort of understanding here. Basically, he has a $100 million or more position on Aave, I believe, against collateral of around 280 million curve. It's speculated that he used some of that, 40 million of that to purchase a house, which obviously he's now trying to protect. He's been selling a lot of tokens on chain. So we've seen over the last day, he's been selling Lido in small batches, which is a bit of a weird thing to do. Kind of looks like he's scrambling for cash. We saw him repaying down some of his loan before issuing over seven OTC transactions to a variety of counterparties, including Justin Sun. So it looks like he's trying to cash out without hurting the curve price too much at the price of 41 cents according to the block. What do you make of his kind of weird, some were saying like desperate actions on chain to try and protect his position? Is this a bad sign for curve? Yeah, I mean, it's a bad sign, of course. The fact that he's looking for change, 1K or 2K of Lido, small amounts, I think, you know. When the loan position is 100 million is a bad sign. Now what's really happening is that there is not enough liquidity for the market price of curve to do like large transactions. So if like we see here is 56 cents, you know, it's supposed to be worth 500 million in market cap. The reality is if you click on markets on your screen, you'll see that the liquidity that actually exists within 2 % is really not that high. Even if you look at all the exchanges put together, you know, you have like a million dollars. This guy has to come up with, you know, let's say like 10, $20 million. That doesn't exist on centralized exchanges certainly does not exist on, you know, DeFi exchanges. So what's ended up happening is to get liquidity more than this one or 2 million of the depth that we see, he's had to do OTC transactions and OTC transactions usually have to give a steep discount. So in this case, we're seeing that he's given a 40 cent price to people, which is quite a lot lower than the market price. And, you know, he's asked them to lock up the coins, but from what we understand the coins that are locked up are like a gentleman's agreement. There is no code locking up the coins. So he's just kind of hoping that some of the questionable characters that he's done deals with will not sell the coins before six months. Which I already are because we can see here that 17 .5 million curve were transferred to Binance, a small amount in the scheme of things, but still, you know, around what, 8 million, 9 million dollars worth of curve. And we've also seen some other wallets activate in the early hours of the morning. I've been covering this on my Twitter and these were addresses that were tied in with the OTC as well. So it's pretty interesting here. 40 cents is what the block's saying with a call option of three to six months, but handshake agreements, which may, you know, not be as solid as maybe Michael was led to believe. He has received some support though.
The Dan Bongino Show
Rep. James Comer: Joe Biden Potentially Received up to $30M in Bribes
"So folks, here's what I was talking about before. Here's the audio. And watch the liberal story change again. This is Jim Komer, Republican Congressman, looking into the Biden crime family. Here's Komer on Maria Bartiromo's show saying, hey, it may not just be 10 million. It may be 20 million in Biden bribes. You have any idea how much money that is? A dollars. million Here, take a listen yourself. We have issues with the FBI, but my investigation is about following the money. We're going to continue to follow the money. And Maria, I can assure you there's more money that we're going to be able to identify that was transferred between foreign nationals in other countries and the Biden family. This is going to be hard for Joe Biden to explain, and it's not going to go away. This is going to be an issue. And I think eventually the mainstream media will turn on Joe Biden and start asking the real questions. What did your family do to receive all this money? What number are you up to now? How much have you identified of the money he's from taken foreign nationals? We have more bank records coming in, but we're going to exceed $10 million this week, and I think we'll get up between $20 and $30 million. $20 the in next year. What do you think? Let us know in the comments below. Thanks for watching. We'll see you in the It's only a difference of ten million dollars
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
"$20 million" Discussed on WTOP
"One of Maryland's four historically black colleges and universities is getting a combined $20 million in grants to carry out research at its national transportation center. Director mansur jahani says, there's a real collaboration between the students and staff on everything from making work zones safer to connected autonomous vehicles. We brainstorm and we get to the next level of conducting projects, writing proposals, they are heavily involved. And it's not just about those behind the wheel, Johannes says, research also focuses on sustainability and equity for people on foot on bikes and scooters. Kate Ryan, WTO news. Virginia's governor defending his administration's updated policy of restoring felon rights by requiring them to apply and have a review. During the previous two administrations, felons had their voting rights, almost automatically restored once they had served their prison time. Virginia is one of two states where felons permanently lose their right to vote, following the conviction and the power to restore those rights, rest solely with the governor. A lawsuit filed in federal court is claiming that the process now being used by Virginia governor Glenn youngkin is unconstitutional and could lead to decisions being based on an applicant's political affiliations. That lawsuit was filed by the Washington based fair election center on behalf of Gregory Williams a convicted felon who has completed a sentence and as his right restoration application still pending. Maryland's General Assembly approving a measure that gives the state attorney general independent authority to bring criminal charges against police officers when investigating deaths in fall involving officers. The House voted 99 to 37 yesterday for the Bill already passed by the Senate. Governor Wes Morris as he'll sign it. Current law allows local prosecutors to decide if officers will be charged, and this bill wants to end potential conflicts of interest between local prosecutors and police. Opponents say it's an overreach of state powers ahead of locally elected prosecutors. It expands on police reforms approved two years ago following the 2020 police killing of George Floyd in Minnesota. A judge has delayed a decision on whether a report should be released on the handling of two students sexual assaults at loudoun county public schools. During a pretrial hearing for former superintendent Scott ziegler, judge James Fisher says he wants to read it first. That's according to the loudoun times mirror. Fisher has to decide if the report should be released or if it's protected by attorney client privilege. The Virginia attorney general's office wants the report as part of its prosecution of ziegler in December ziegler was fired and indicted on conflict of interest and false publication charges after he was accused of lying about his awareness of sexual assaults and school bathrooms. The school board voted against making the report public in February and the hearing will continue on May 30th. Acacia James WTO P news. Montgomery county van has been arrested for meeting victims on a dating app, and then assaulting them and taking their money. The suspect used the name Tommy online, but police have now identified him as 27 year old Brandon Darrell Cain from Silver Spring. The first victim told police he agreed to pay the suspect money in exchange for sex, then paid for Kane's Uber to his home before the assault. The second victim reported Kane not only assaulted and robbed him, but also forced him out of his apartment where they met. Police are worried there may be more victims and are asking them to come forward. Shying current WTO P news. Stay with us coming up in money news. How much D.C. home values have risen in the last two decades? I'm Jeff cable. It's ten O 8. Get a precision AC tune up for only $59. Michael and son. Now traffic
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"Would totally be the carcelle that would have been like and i hope you don't mind me sharing but a little extra element what i find interesting and i think that like you know what she said about tom. Calling her to gore sell. That's a that's just interesting inside party or divorced. I don't think she ever thought it would somehow. And then i think to erica. She was like regretted. Ever resilient in the first place. Whether on camera or i think she regretted revealing it. And that's where she started to like. We'll see like be the gar. Sal i would still be the crystal. Yes whereas i felt the that any information that i'm told right I don't not anything 'cause like but that piece of it. Yeah me felt like if if she wanted to share it that she would bring. Yeah so when. Sal said cameras the cameras. 'cause i think that's what's hard about the show. Is that people like she already said it. But when you're when you're in it just the girls. Just because i said thumbing to you doesn't mean that i wanna share with versa. Yeah and so i don't. I don't think that there was negative. There wasn't yeah. Let's just intent right type. Who's like especially. Because i'm just i just erica. I'm not like hey everyone that i just met also shares information. It's just not my personality in general. And even if i knew for ten years i would not necessarily sure that who i am. Yeah but. I don't think i think so. That's what it was that it was just. It was compounded was so much emotion stress. Because i felt like she shared so much and it was just like. Oh here we're doing it again. that's what i like. yes. I just did all last night. I just had two hours on a mountain but again we were two hours two minutes and then it's like now. We're doing this again. That's what i assume. Yes i do too. It's like look it's it's very interesting juicy and who knows but you know when someone's crying they're crying. It's you know you feel for them. I do wanna make something clear. Yes is on people are like. Oh why didn't crystal speak up in front of erica. Before i did that was all okay. That will happen. Yeah about it about it. Oh yeah yeah i She just was too yeah. She couldn't hear anything. I was saying right right about defending defending that you did. Defend cursing was just it was she she. Yes and i kept telling her that she didn't hear it. Yes but that's i was crying. I was crying out so bad whole room was like you could. It was so intense. I just felt bad. Yeah yeah bad. like. I don't really know these people right so it's like watching them as some newer friends older friends right. How they have to navigate this how to support her her pain. I mean she was really losing at people. Say it's fake like it wasn't to me again. I'm naive but her. I think her crying and emotions are real. Her life is criminal. Crumbly is so i. I do think that that's real You know it's just an interesting thing to watch in real life. Go back five months in the news. Then watch what. You guys are filming. I mean it makes it. It's like a puzzle as you're it's like it's until from us to like interactive watching. It's like something that we haven't seen and then our other favorite season is just not as fun to watch like new york. I'll still watch it all the time but people are talking about that the way they're enjoying and i've always in beverly hills has always been you know pretty much my favorite because i dislike seeing la. I like saying you know. And i you know have interviewed all the girls. That like. All the girls and speaking of kathy hilton. Are you aware of all your properties that you own and could you have. maybe forgotten. remember what she goes. Just call and say. Hey honey. I believe i got a couple of properties but i got away like i actually wish i didn't know about all the properties. We have way more money that i that i think we have. Unfortunately i'm pretty aware of really have only i think we have three. I have my house. My house in china and we have a rental condo. That's it but you ought to be very very tiny house. Which is your burkan. it's as well it is. It's a tiny tiny in house purse. Yes what is the story behind that. Okay it's so funny for like she's flooding it. I'm like i didn't even like kyle has like laser beam. yeah vision. She's a big. So i'm not. I'm not like a big close person back person. But i do when my friends tell me like. I have a lot of fun to our. Yes and they said if it's an investment. That's what i was going to ask you. I feel like certain bags like that. It's almost like someone that might invest in rolexes. Is this something like that were it. Doesn't it doesn't lose its value. It's not trendy like now so i think we're like oh it's so ugly it's like i don't think it's the best looking back and being like my bags. I like sports all day long. Like i don't really care. It's like buying. Bitcoin like we. We investment the only made fifty of those little house purses and so i was able to get one did. And it's a great thing and what i want to get rid of it i will. Yeah so yeah that's all it is. It's okay not a collector of things. My husband loves to collect stuff. I'm more of like individual pieces. That can like i. Don't like anything that depreciates in general So this is a personality. I was like okay. You know how long have you been at the house that we see on the show. Four years we it. Oh you built from you. Found the lotta. You tend to scrape the house. There was a house there so next door. are really good friends of ours and been looking for two years from raleigh onto new built and it was like twenty two thousand nine. I mean the market was down so every day i was like oh i could have something more. My money was worth more and my neighbor. She called me. She produced a movie for rob the one in china. And she's like i found it. My neighbors are moving after forty. Nine years you're going to have to tear down. That's a dream. Yeah and it wasn't like a big house so it feels good when you tear down a house. That is tired or when you were to that. Is you want that kitchen from the. That's the best..
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"You know because at this point we're still is so sporadic it was a few weeks a call and then we like forget about it totally i it was not until later until like a few months before my new. It was a they were going to pick. Then it started getting more real like a little scare and that's how it happened. It just kept going and then. Cathy called me okay and she said do you want to do as i know. And she's like come on like i know you. I know who you are as a person and like. Why don't we do this together. And i was like a kind of kathy's it made me feel much safer. Yeah and like with all the housewives of different franchises and stuff and who truly have some serious skeletons by skeletons. I mean not paying taxes for seven years alike. I mean so and i think sometimes they do have a difficult time finding the people of this economic status where the husband or. They're they're like we're we're clean. We do this and have a good time and get you know in a positive way and not worry about one of us are going to go to prison. I don't know if you're aware but like real. Housewives vos see. There's a new girl. Noah i i did not know that. Her husband was sweet. James the attorney that i hear on the radio all didn't know and i literally i was going to cost and i saw it on victory. Yeah i like. That's the guy. I listened to the regular like local radio and i drive around. He's on all the time like okay. Sweetjames yihe personal injury attorney her husband. Yeah so he filed for divorce. It had already come out that he owes something in the range. Approximately five million dollars. So you know that's oc then potomac. It just came out that giselle 's on again off husband. Nothing much just came out again. He apparently didn't pay taxes for idaho's yes she's fine because she's not with him okay but he on the show and everything and partly he. According to writer allied owes somewhere in the five seven million dollar back taxes. I don't know or maybe it was eight eight hundred zero. It's just a big mess so you know and even other people on your cast. Okay so like so. There was no you know obviously pared down. I like if i was going to recommend a girlfriend. It'd be like okay bras on housewives. i'd be like hey they want you like just full disclosure like you guys is teddy. Said that you could you. You don't have a lot of money hanging out in puerto rico to do it. If you don't skeleton. I remember thinking i feel so i what i realize. Being on this side of it now is just how naive of a person i am and rob feels that way because we were like. I said rav on my god. What if they like say something bad about one year old movies like that's how far we we were like that's as deep as us feeling service about the audience right so when i'm like why would anyone do that. But then i think on the flip side of like well if you are in a financial pickle yeah this could be a windfall or if you hate your husband this is a way to get out and start your own candle company. Okay so i have. You heard of my candle. I actually interesting so people are like. Oh it's creates divorce like now a full year into it doesn't you go in whether it's you're ready to or it's going to be a sort. That's my theory. Yeah because it does not affect my family in any way the show like an we get home and it's like playing baseball with the kids like it's it's it is separate even though i am now when i read all the like instagram's whatever and i really should and i have someone who does it for me but like like why are these people doing you know you see it a different way. Yeah but that it really doesn't. I don't think unless there's cracks right. And well i remember asking adrian maalouf like early on. She's you know was on like over ten years ago. And of course they got divorced and i it was quite contentious. Now it's like they're both really good. Was it quick. After she started the show yeah was like within like a year or say okay and and they were kind of funny bickering couple like i kind of rolling is kinda laughing and yeah and and i said to her i go you know and she goes you know. I didn't think i'd end my days with him before it started like she knew it was like i don't know how much longer like we're not great but you know but it may it probably sped it up it ended up because you also look back and i think sometimes women won't do go on the show. That aren't happy with her husband to be like. Oh either he's gonna seem self and feel really badly that he snaps at me or whatever or i want. The world has seen a recipe bad divorce. You had that already. Yeah in the front of your mass is. That's what i think knowing much adds elements to speed up with kind of inevitably. Because i would never want my husband to look bad because my family to stay with them for the rest of yes. So if you're thinking of that already yeah i just. I don't know why anyone would really want to go on tv to do that again. I don't know everyone has a different circumstance. So i don't like I try not to judge someone. So i feel like if you're about to be a single woman and you don't you know you've been had a lot of money and you go like yes could be something that you could. I think this noel girl who's like very beautiful. Maybe she ended up. Maybe she didn't shush blindsided. But i think it's kinda great she's on the show like in this case it's kinda great for for her like he's filing and you know and now she can you know maybe have something going on herself or whatever and it makes for kind of an interesting season. I mean your season is extremely juicy. You know and. I don't wanna put you like in a weird position about it but you know it it just one thing. I will say about the conference. Everyone's talking about us when you guys went on the hike and wh where it got miscommunicated to carcelle who thought she could bring up a conversation that you guys had so everyone at home is like but wait you know and i kinda see that because like if i was on a girl's trip and one of the girls whose going through divorce which we i've been on that girl trip yeah and i'm laying next to the one girl and she reveals something more i would. I would probably now. There's five of a city at dinner and we're all aware of this going through divorce. But she told me like a little interesting part of it..
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"On the phone till midnight with my friend from sean nuts to this day but it doesn't it's it was never like that but also because i never made them feel that way because it's not really. I think the sort of glamorous life is they they know who i am and they also know that glamorous life is can be a facade and it's not fake. It's just that. Hollywood is like that like the people working holly. It's a hard job. I think people think it's like all day long. You're just you know like no longer. Carpet is sixteen hour day of standing and waiting. And you're like yeah. Yeah so they know that they if they come to set. You know to visit me and rob or something like that. They're like it's work. yeah they they just. I don't know. I my core. The i love that yeah Tell us about the escort agency job that you might say what i watched it robs like. Wow that really. Just was very quick blurb so So i had a friend who owned it was like at the time member. Those like l. a. Like those those papers and you see the girls on the back. yes so i. I was asked my summer before going to uc irvine. Do you wanna work is one of those girls. Yes and her boyfriend owned one of these like advertising companies. It's actually an advertising okay. But it gets sort of whittle down to like. I mean it's like a book. They like the kind of funny blurb escort agency like yes. And i did say because it was. It was in the vein. But it's not an escort agency so it was an advertising company that advertised escorts right but escorts can be right now. It's whatever you will now anything. Yeah it's much broader thing. I'm thinking ninety s i'm like. Is this some heidi fleiss now. By the way it was sort like in their world. Yes i but we would have been two thousand. Yeah it was like so they would. There was an office on sunset. And i was like okay. Let's a you know. And they would come in and then or call us and we put them on the mag. The paper phone was direct to to them so we never got calls so we weren't interacting got paid us like a hundred bucks a month to be on the on the paper. Okay got it got it here. I mean so. It was an advertising company that advertised girls. You know that like you said that then people are like well is how she met her. Yes but we laugh at that you can laugh at it and it's not weird when you know it's it's like i always ask those questions like if this pink i see paintcare. You're telling me as green. I'm just gonna be like laugh like okay. It doesn't really matter what you think. Because i know it's pink so if things feel uncomfortable because i'm hiding something that you know but we just laugh my look. He's like oh people are finding out the truth like shut up. So that was. That was before i met even rob anyway prior. Yes no but that was like a fun random but that was my personality. It's like going to clubs like i. I was very st- like straight and arrow button up. But i love those kind of little things that i did little exciting exciting things. Yeah so my mom's like where are you. Where am i going to my job. Advertising sh like what. Okay so like 'cause i always had good grades. Yeah i you know so didn't really matter but yeah it was fine and it was three months. Great yeah okay so All right. I love that okay so now. Now you're doing the show and a lot of people wanted to know. How did you meet kathy hilton. So rob's producing partner. sarah directs. His partner is jason clark his wife kimberly who they worked together for twenty something years. They became like my best friends. Because they're best friends like my really close today. Met rob camberley was married to bury hilton. Who is rick's brother. Oh she married jason. I mean they have kids in their thirties. So this is a long time ago. Okay so kimberly and kathy were sister-in-law's at one time one time. Oh sort of got married at the same time young to to rick and berry and so they've maintained close but since kim has been my best i mean like every day. We're with them so when they would get together. I met cathy got it. And so our first time. I remember meeting kathy. They were opening the win and cathy was invited by stephen. And then i went with. Kallen goes up fifteen years ago sixteen years ago so i went with kim and then we met cathy there. Until i've just always seen kathy throughout the years yes Because our original connection was because they were sisters. And did you watch the housewives. Yeah i watched okay. So you're so you like religiously like you're like a fan. You're watching new everybody. Sometimes it skipped something new this the first year that they approach her. They'd been trying to get you for a few years. I air and so. I'd never like it was never on my reiter. Never thought you never know cute girl who lives in beverly hills no. I don't think i am a mom. I've coconut water company. And i'm a chinese get from the valley like no i did not no not at all. Okay yeah so the weirdest yeah who calls you for. How do they. I approach you. I got a text teddy. Oh teddy mellencamp. Yeah and how were you friendly with teddy. So teddy is her best friend group. She's like a squad of like five girls. Meghan who went to louisville. Okay is one of my best friends. All of us met really through mommy group. Okay about right. Yeah so. I think she just thought crystal like if she knew that. Would she throw in the hat so she text me. Are you interested. I wrote no. I haven't all text so funny. And she didn't say about what i just knew and i was like no and she's like come on. Why not and i said. I just don't think it's for me but if initial just take a call and i said okay i'll let you know and then i told rob and rob say and i was like. Oh my god. I a call because you hear so many people get calls over yeah legalize you'll get the first initial call. Yeah and i. And this was two weeks after locked as lockdown. Yes so we're just like sitting there doing nothing. Rasi take like you could look for something this month. You know they knew and robs like you're going to get it anyway like hard it is to cast things and it was even like we wanted it. It was just. He's just like have fun with a call. Yeah and it just kept getting calls never end. And then i was like god. Rubbish should just tell them like. I'm not doing it like i'm going to time. And he's like just he robs. The person is like you just go until someone gives you an offer and then you stop it..
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"Like whoa. What's he involved in that or are you just invite. He was directing a movie for disney. He was there for like press to do the press line and so he did the red carpet. And you're there yes. I didn't walk the carpets. Just go around. He had his hands walk. Around is my first premier. But he's like when we got there like you know. I'm not walking with the only that's fine. I don't wanna like he's he public with her first day. I was like that's fine. You know but. I also don't care thing in my and i think he he loves to tell the story that that's when he was like very interested in me because i didn't wanna walk carpet ono. Look i trust me. The joke is like unseat like it's ridiculous. The whole thing. Like i don't even know how i'm here but yes. Oh my thing. I thought about it so that was our first date. We just had been together ever since. And when did you know like he's the one i want to spend the rest of my life with him. I always felt that he was like he checked all the boxes. But for me it was you know i said every sunday we go to san gabriel valley and we see my grandparents we have lunch with my whole family and you like he has show up and he did every sunday like he was a director and his big life parties and whatever and it was like he made sure to carve out. It was like four hours new driver for our bag. It's a big deal and you know was just going for the really good food. The welfare ninety percent of it showed up and we have a lot of like sort innate rules of like Algebra the eldest sits on the side of the table. And he he's the type person always used to sitting on the inside right. You get the best seat. And i'm like no you're on the kids side. You're the new kid. And he was so respectful of he like it not only respected like loved it. Yeah he loved. The whole family loved it. Yeah and so. I'm like give you get my family so just that alone was special and he. My brother like this. Oh that's all my god like they're on the phone all the no one calls me like walking in there talking. The his he'd have a brother he has two brothers. Yeah brother doesn't have a brother. No so that's really nice. Yeah but they just really connected and obviously families my thing so yeah family loves him and so. How long did you guys date before you were engaged. Three and a half years. Oh nice yeah so we wish you thanks fancy wedding a big fancy where was it. It was at saddleback grandma bill. Nice yeah so we had he. We were in china when we were engaged. She was directing a movie and we literally took the whole set. Put it on container and rebuilt it to and made it look like one thousand nine hundred ninety s shanghai at the saddle. We built the whole thing was. Oh my god. Yeah and cheryl can shadow of sequoia production. She does the governor's ball and everything so she did. The wedding and i remember thinking like she was like this is like a piece of cake. It's such an easy thing because she does huge which we locked. Because we were in china we flew home. Only through sephora wedding because a year the bridesmaids the whole thing. Whole thing. sean. Yeah yeah the whole thing. Oh my god that's my best. I was talking just asking you that i was asking a wrote down the question. Yeah i was wondering you know because now you have even before housefly. It's just you know being a wealthy woman you know and having a very very nice home and you know a different life than maybe the valley friend who still. I'm sure is living a nice life but you know it's a different level. Was it ever odd or we're for anybody or was it always just really great. And what a score that my friend. I married a great guy and we can go to her house and swim like i know because i met rob so young yeah. He was always super inclusive by friends. You know even though. I had a like i had a very kind of middle class. Lay definitely meeting. Rob was a lot bigger. Yes like he was like. Would i want my friends. Like i feel bad. And then he would like pay for them to travel with us. Yes Because i don't want to be with my friends. Yeah so he was. But rob is like. He grew up with no money so he grew he grew up in palo alto okay so he like never had his own bedroom or anything fourteen in square foot house with four kids. The whole thing and So he had a very sort of also middle class. When i like him money but not right he didn't have today right So he really understood that and he's super down to earth and so it was never an issue and yeah want my friends would be with me. They never ever treated them differently. Yes i have. Friends who live in van is in a condo. A go hang out there. That's really it's really good but sometimes sunders is not the person and especially now now that you're on tv too. Sometimes it's not the star or the wealthier person that changes it's the front then or the people from your that feel like she wouldn't wanna be invited to this birthday party in my backyard because it's just a little birthday party. We have backyard. And then you see that you've been excluded and you're like what am i. That's good that does happen to some short those so young. It wasn't like. I'm married rob in my thirties right. And then my life changed your life. Half of your life grew widow. Me in that experience i love were my bridesmaids in my extravagant wedding. Roy are mid twenties..
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"The brother. The hot brother love. What is the story behind him. Growing up here and then going overseas becoming a pop star. I it's a story behind your brother. It's super random. Just a little older than you are. So yes i'm just turned forty okay. Great contrary to everyone thinking. I'm a lot younger based on google. Based on your look what does it. Black don't crack asian no raisin. Yes sir true. I'd like to so yes. So jeff went to the michigan. And i went to uc irvine. Okay we both studied abroad in china. He had studied abroad my senior year so his sophomore year. Okay and he just called us and said like they were. I think he got discovered. And i think the the Management was looking for american born chinese at the time. Okay because it. Just china was just opening really walis in china gone and then he called hollywood to become. Yeah and i would like my trajectory was medical school business school like we were just kind of classic asian american rally and and then he called us like oh. They want me to do this demo. My mom is like what is that you know. I don't even totally out of the realm of our whole lives. And he did it and then he's like they wanna sign me and my mom's like over my dead like you're going to finish college like this is not a job that you're gonna approach what age to start was like nineteen. Oh wow okay. And he was saying. Like jeff saying at shaw is like in jazz band. Yes so i've been vocal jazz or you shall we rosenberg and and But we thought it was cool like even dirty we like nerds or cool and so he just signed the deal. And then my mom's as long as you finish michigan. I'll let you try it. And so he flew back finish school within like a year and then went back and then hit. He re released an album and then one mtv best new artist. Asia was really weird because we were just in l. a. Watching it happen but it was so like so like fifteen years ago. Twenty or twenty years ago. Yeah and that year zero. I'm rob and so i think my mind was. We need to know all about okay. Okay helped my mom and dad sort of have more open mind to jeff pursuing something in the arts other than like science and medicine. Yes yeah so so. That's what happened. It was really and he has been doing it ever since he started he single. He's saying. I think. I mean are people just besieged like are you just besieged with like hornacek's that wanna meet him an men he said but you know he was engaged last year. Our did you like her. I love her. I think the kovic they were. I called a covert casualty. Oh yeah and i said if it's life can get really hard with kids and everything so you guys can't make this work in. I would say like if you have to go through a lot if you're doing like more than just like one or two just like counseling to get ready to get married like full-blown therapy before you get married. I say no. Yeah it back together. Yeah they jeff is currently single. He's like i have a lot of men and women but he got his a lot of women live right now. Though he lives in shanghai 'oh we have a house in beijing. Robin i and he's in beijing because china's and locked down to can't go city to city so he's at my house now. Okay all right. He's an he's comfortable and he's turning the water for me. So it's it was so cute because i'm like wait. He's like a manny uncle superstar singer. Doing cartwheels like in the library. Manny because it was fighting. He's yes but he's my grew up in a very traditional chinese household and when they say it takes a village at does and everyone chips in parents were not born here. They were born in china but they met here in the states in both came over. How old my mom came late twenties down thirty. They're like full adult. Yeah my dad. My dad was twenty three years older than my mom. I was thinking very different times of china and interesting. And then you mary rob and he's how much older than twenty years old there. Oh okay yeah okay. So how did you guys meet. Everyone's wondering how you met. So i was a sophomore in college at irvine at irvine and i actually thereby mom a birthday party. Like a surprise luncheon at beast regarded in term right. Oh my gosh. That was such a good place to have the like the lunch. The bridal showers ledge ledger that my dad was like. Yeah do for mom. My dad wasn't really like that kind of guy but he's like yeah. If you want you know like you do it. Just pay for know. And i do this little surprise lunch and i remember. I was exhausted. Because it's so much work into it. And i was a kid i wanted it to be like so perfect and then my friends had texted me like do you is one. You want to go to a birthday party tonight. And i was like no. I remember lying on the couch. Mom was like go like you did so much for me today. Like she was like hi and go. So i go to this party which was in west hollywood at this big studio and it was rob's office that he was hosting a birthday party for his friend. Now who is the friend that had the connection to this party. I had some girlfriends who are older than me. Ellie party that whole thing. And it's funny because i have friends to houses friends driving up some hill off of sudden. Sounds like a good part valet like it would be like and then you're just like okay. This is kind of fun. Yeah totally that was like my sort of teenage college years. And but you know i think rob of weary of those girls and they're older and we went to this party and then i met rob there and we just talked to look very different and i think also because i was in college. I had my path So i wasn't like looking. I like my parents were ten years older than me. But i was not looking for anyone and then we just met and then he called me the next day and it was always under this veil of like befriends like i didn't think about dating him but then he called me next day like asked me out on a date our like nineteen. I was twenty. You're twenty and he was a forty and that did that like freak you out or did you want to almost hide that from like college leaving so he didn't know until i and i was like i would never live like such an open book in general. I'm like i'm proud of fake ideal. Could you get a cocktail out with him so no. I didn't have a fake. Id and i remember. We went to like ice. I soon turned twenty one. But i didn't drink anyway so don't really matter. I was really buttoned up kid like you know even like i went out and stuff i would never have gotten drink. I just liked the idea of like getting into a club right somehow. Yes but i was never that kid. So i remember he took me into mr chao for dinner and you know they bring the champagne thing and i was like. Oh they can ask for an idea. But i didn't drink like. I'll have an ice tea because i don't drink so still not drink. I drink zoe it's nine. Am i'm like worse cocktail. You know so now. I'm like now. I'm known for like my cocktails just so many. Oh that's right. Yeah lightning speed of the cocktail drinker. But but also like even though i love to make i love it because i love hosting and stuff so i don't really have a lot but no i wasn't a drinker then and so that's how he met. Go on fancy day. Our first real date was the finding nemo premier so he asked me the next week..
Juicy Scoop with Heather McDonald
"$20 million" Discussed on Juicy Scoop with Heather McDonald
"Let me see what else i wanna talk. Oh to loud. So i wanna talk about white lotus really quick. I am three to four episodes in it is the best show. Soya late to the party. I know it just last week. So i will be caught up by next week. I did not realize that. Mike white created wrote and directed it. He is my favorite television and film maker. I have loved everything. He's done since the mid to late nineties. He's amazing and it all makes perfect sense because everything out the show is so real yet. Funny incredible characters credible acting love love and love and i read that the second season is coming and i don't know if i'm ruining this for you. I don't even know what happens with these people. Because i'm only two or three episodes in but it'll be at the white lotus which is a hawaiian resort. But it'll be a whole new group of people and a new story. And i love that idea. Kind of like every season is like an episode of law and order. You know Just it's different cases and the lawyers and cops are interesting but they're not. They're not. They're not that important to the series. Why law and orders but on for twenty five years. That's why so if you can come up with the show where these big stars will only committing to six episodes and it's a one and done then move on. I just think people will be dying to do it. Dying to be part of his comedic genius and then you know but not tied into something for seven years so i just think it's like a brilliant hollywood move Oh jennifer aniston talked. Sarah about itchy. Dating david swimmer swimmer. Well we both did know if he was married. Divorced ever had a kid yes he married a girl who is nineteen years his junior in two thousand ten names zoey they got divorced in two thousand seventeen and they currently share a daughter named chloe. Who's ten. I don't know if jen aniston. And he are together. But that's nice that if so she could be. I could be a little step. Mother took great ten year old who is sparkling and funny and innovative and this generation of kids are just david. And i are just so and i'm not stepping on the mothers toes at all. I just gotta enjoy talking. Turn watching great films and documentaries and okay let me see Yeah so now. Let's talk about a real quickly Real house beverly hills. Wow well article came out. The episode was all about erica. jane being confronted about. Where is this fifty eight million dollars that that once was supposedly tom charities which is no longer his she has no idea where is and where is the twenty million that went to her company. Well it went to a company over the years and page six comes out and they basically explain First of all erica. James journey is saying that no money whatsoever went to erica however sh- however and that she never had a role in managing her husband's company. But the trustees lawyers claim that from two thousand and eight to two thousand and twenty fourteen million. Two hundred fifty. Nine thousand dollars in change was charged to her american or a card that she used which was an american express card. her company also spent one point. Five million Yes one point. Five million and more at the mcdonald no have no relation sell neck associates agency which describes itself as the first agency dedicated to represent dancers and choreographers exclusively plus another one point four million on unknown purchases. There's more details than that. But she had an assistant for for a while. That used to work for. Kim kardashian should some makeup people but it was like minor like a thousand dollars to make up by morio so that was probably his daily fee. Thousand dollars I told you that i know that. She paid all of her makeup glam and dancers and choreography. The top top price. Whatever they ask they got which is why they loved working for her is wife. They were at our beck and call is why they were always available for her and she liked. I'm sure having that power and Money talks and bullshit walks money. Tax bullshit walks So the the the thing is did she know while she did. See these things about the lawsuits. Someone wrote to me saying that there There has been at one. Time was had a partnership with somebody and the partner was doing something illegal but they knew once letters came in about a lawsuit suing their company and the partner did say oh ignore it. Let the attorneys take care of it. But he. her husband didn't ignore it and they really had. They had to sell a lot of things to get out of this mess. And it with the partnership to keep them free from having any criminal Circum a criminal accusations so she did know about the lawsuits. And i think that is why she left him but the question still remains same question. I said on the hulu doc. Did she really know. Or was she given this opportunity to spend carte blanche whatever she wanted and she didn't want to ask you know she wanted. She wanted to eat the burger and not ask where the cow was. Whatever that expression is Just didn't she didn't wanna know She didn't care and you know she he. He had a girlfriend and she had her her gay dancers and people around her kissing her house and having the time of her life. So it's all catching up to her. Now i get to talk to crystal. Who is the newest housewife. And we do talk a lot about her life the season. What's going on. And i think you're gonna love it and really get to know her better as a person and she's really quite genuine. So here we go with crystal from real half beverly hills. Hello and welcome to juicy skip. I am here with the newest real housewives of beverly hills sensation. Kristal kong me. Cough just found out what high school you went to welcome. Thank you for coming back to the eight one. Eight your roots. I o say. I live eight one eight adjacent yes. People ask me because i so valley proud. It's not even we me and my friends have a hashtag hash tag. H eight one eight. Stop the hate. Oh god yeah. We love you. Whitney mine was until i die. But that was from a comedian front of mine who lived in receded he to say that the comedy store it always just like this is the funniest thing i've ever heard your from northridge. Yeah and you just told me because what of the questions was what high school you know. Yeah shamanov islander sean nine for middle school and high school and i see our kenyon for lower school that i went to middle school. They opened by seventh grade at at sierra. My brother already started shop dot so we already. You know. mom doesn't want to go to two different smells so and it was great because my friends from sierra ended up at shawmut for high school so cool but this is like my head over. I love it. So you'd go to that north ridge mall. i used to work in. I used to work at finish line station in high school at north of all that is great. You're younger than i am. But was there the like whoa like that gulf. Place in the waterpark and stuff they're in indoor threat. It was was really young. Maybe it wasn't there shut up how they're knowing okay..
Game Theory Podcast
"$20 million" Discussed on Game Theory Podcast
"Actually, I went to like, I actually think Colin is really good, I think Collin, Sexton is a very good basketball player. He can get a bucket in a way that very, very very, very few NBA players. Can like, he is averaging twenty four point four points per game on a 57 shooting percentage at twenty-two years old. He is but, but here's, but here's the thing. Five years from now, let's play it out. Do you think? I'm not saying he will be, but do you think that you would be comfortable? Starting him set it and forget it. 32 minutes, a game on a, on a team that's competing for a championship in the right situation? Yes. Not in this situation. If you're keeping Darius Garland, I think it's so what is that? What is that role? That he's playing though? Ah, let's say offensively. So if you're if you're Oklahoma City life and you get Cade Cunningham like that and you know, obviously she gives Alexander's. They're like whatever team gets paid Cunningham. Let's say it's huge them cuz you're seeing basically has an empty roster. Right? Houston gets paid Cunningham off. I actually think Collin Sexton is a fascinating fit with Kayden Cunningham is like, so you, so you to articulate it, you're saying like secondary, ball-handler, scorer, who can take over a little bit more. If he zhat, is that the idea? Yeah, like guy, who can share the load as a lead guard, but you want the other guy to have the ball in his hands more in late-game situations that really matter. So the other the other, I think it's an interesting idea in the circumstance, but like I've made the parallel with d Angelo Russel and Karl Anthony towns. Like you're putting the secondary player in a good position to succeed but you know, Cade far better than I at this point. Yeah. But to me you have a big guy who can do the boss can go with somebody who's bigger and maybe go to a switching system like you can. The beauty of Katie Cunningham is that you can put a lot of things around. Am I don't think are necessarily need to commit to sex and to be that guy. No, I agree with you. I think that that's not like, a fair sentiment at all. Like Miami would be interesting to me, like, if they decide that they rather have someone like all insects, than, than Kendrick Nunn playing him. Next to Jimmy Butler is a fast song. Because I think that they're really good at insulating, defensive problems. The other really interesting one here and this is I made an argument for a similar reason for Spencer Dinwiddie to for a team to trade for a nice and which is a very wealthy team. Meaning the owner is willing to spend, right? Who doesn't care at all about sex and becoming a lot more expensive. So like let's say, I mean, the easiest ones to throw here are the Clippers and the Lakers like WhatsApp. One of them is like okay sex things going to make 20 million after this twenty-five million. Steve Ballmer, says whatever, I don't care. It's a good player..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"You know have a strategy for cr- generating a profit for their investors. That's how it works in silicon valley. I like i at at some point. I don't think facebook ads on day. One and they were still pretty early in the the clubhouse bet there's gonna be some sort of ads which would be great actually audio kinda like like. It's like the radio to radio ad. Yeah exactly radio ads club. It'd be great. And i know that clubhouse clubhouse is gonna one trend is at clubhouses gonna be like the new wake conference like virtual conference you probably already know that like net more marketers are going to be entering. Their and sharing information is pretty incredible. Like you get some really really high level people like really really high level. People like i was listening to a room Like know i'm into like the crypto stuff and whatever i was listening to the room about crypto and and it was like people who have like a tremendous amount of wealth and knowledge. Also i mean it's it's it's very interesting and i definitely think that there's there's room to grow in the for sure that their strategy is let's get as many you know ears. I guess as possible and then we'll monetize them when we figure out you know when we have X amount of people or whatever Last question just a selfish last questions you find a tiktok as is monitoring on tiktok. What are you getting trophic or you said you were. You were testing it or we're gonna test we haven't oh you're going okay. I'm curious. I don't know i've never been have the app my phone. I don't even know how to use it. But i'd probably should no. I mean i see a lot of people that are kind of intermingling facebook and their tiktok like they're putting their tiktok on like facebook stories and i'm always like i wonder if anybody's making money off tiktok so i was kinda curious because you mentioned spoke with highly uvira yesterday and He's he..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"So. That was interesting That's that's definitely. I mean if you have the the interesting thing obviously about your businesses you have a segment you so you can create products for that segment you can reuse that list you can re market and you know obviously offer them things that they're interested in and and that's like you know email is obviously i feel like emails made a comeback for me like i am email kind of went away when facebook and all social media's kinda came and now i feel emails like you know the comeback kid 'cause you don't have to worry about the ftc and compliance and all this stuff you can kinda say what you want to say and an email So talking about that. Specifically wh what i mean i know that you know. You're not a traffic expert But i know a lot more traffic than most people. So i'm just wondering like what you. Where do you guys get most of your traffic. Or what are your best tips for getting Getting traffic yeah well okay. So the way. I view it is my my best. Tips is like find someone better than you better than might need to do it. which is a lot of people right so is i'm not good at all athletes though We did i had done like. Cpa network stuff for a while in. That's if you're an offer. Owner you're putting your offer fronts sensor network. That's fine daniel. I think it will work until a certain point. And then if you start scaling it can actually be more headache than yeah. The juice maybe not worth charge back. Yeah ours back. Can spam lawsuits right like there a lot of negatives that so that's what makes you know traffic light facebook youtube google all that stuff way more attractive than i think you know. I could talk free. Our approach is that we we just parbat. The right media buyer come in and more crowded was very smart super intelligent. Very good. Marketer understands copy. Eaton's this virus your buyers. They may not understand the copy. And i think that's a disadvantage me buyers. Nida understand enough to to be able to communicate and come in and just express what would be good right. That's how having a media buyer that understands. Knowledge does on. Facebook been new but has not been able to Work with our creative team and getting the assets. He needs Yeah that's that's my number one tip it be that but then you know if you go deeper than that will. How like the for us being able to on like that because like you know not. Not all of them. Are you know As good as he is Gonna have often always comes back. Because even the offerings of former to certain certain metric needs to have a certain vlc justify cpa's sarah's back down grew creative is like the new this So so basically if you have. Yeah no no i mean. Basically you're saying you know. Get get a media buyer if you can And if you can't you know getting an offer to work on cold. Traffic seems to be the winning formula versus Maybe working with an agency which could be short term short term gains for long term headaches. I mean there. I'm sure there are some great agencies..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"Like it's yeah. It is surprising because share held cited so like ugly customer service died. I was talking to an actual. You'd have someone who brought in help. That customer service in listening to phone calls and listen to hundreds of calls and he said he's in a lot of different companies will look this market with christians. For whatever reason they're very nice people right like very easy to deal with internal refunds chargebacks Whereas we had another business like the site name was just like non christian so it was just very aggressive hostile aggressive. So maybe it's a man verses men and women thing or maybe. It is a christian than where he stopped. Lot of these people are salt of the earth. Like if people really wanted to do you know they really do. Believe in the golden rule do unto. Others would want them to do so. I think that has helped the economics of the business because they've been so easy to work with on the back end with refunds chargebacks so it helps the helps. Everything helps about a mile. So that's something that's interesting That i've learned gene find. Do you find andrew. That like the same principles. Apply to any niche that you would like the same. Would you be able to say you would kill it with an offer. That's geared towards. I don't know Greek orthodox or you know what i mean. I mean yeah any religious or any type of like just very niche market like. I can't really. I people who love golf. I don't know you know. I don't know i mean i think the answer. I don't now need in order to have to try to do. Some agree. offer intel you you..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"Always talking the club houses He's a superstar Are the best in the world of biz. Dev which is good. Because i don't you know. I don't have that skill. It's great to have he has In that sense but he'll bring him in and then. I'll help prioritize k. Can't do all these things we got to bring it back to earth earth but you'll bring him in and so it's Yeah it's it's that kind of answer your question. I don't know if i mean it. Sounds like what. I what it sounds like to me. Is that you guys pretty much own different pieces but each other's so you do say ninety percent and he'll jump in and take that last ten percent and kind of bring it over so I mean that's that's pretty interesting. And i and i love you know obviously hearing i love really understanding the how people work together. It's an area of interest of my. Because i'm always like i you know i'm alone and i'm always like i've always kind of toyed with the idea of getting somebody. I'm i guess i'm not. I'm not super creative. I'm not like the most Out there in terms of creativity. And i'm not a great writer or anything like that. I'm for me. I'm very methodical. I studied it so it's various kind of procedure. I'm very good at procedures and stuff like that. So i thank you for for humoring me and answering these questions i'm always curious partnerships wasn't that made me realize that might have not realized before but i think another another thing i mentioned is that Having a partner like juliette maybe it's not all parts of create some sort of like internal masterminds a lot of people will say oh go to these masterminds and like you know pay whatever thirty thousand hundred thousand bucks and then they'll get like these ideas you're speaking with a lot of high high level people right but it's almost like we have that will those types of man had been some of those so i would. I would know how to compare but partner permanent. Julian it's almost like we have that level if not even better because we're both like have skin in the game in the same business. We have the mastermind daily. So we're able to stress test of us we're able to Question each other challenge each other as an owner assumptions. Because you know i mean. The biggest biggest business mistakes are made are are paved with like bad assumptions. Right so we'll go off. The conversations will be very philosophical like just talking about like well. Why did we believe this or you know. i'll challenge. if he thinks we should highest personal. Why do you think that while block. So we'll we'll be able to simulate a lot of heavy say in even with our copied you will be able to work in a way that simulates the copies so we don't have to test it. We traffic we like take it away. Like no i think you're you're questioning Does your your really exposing the assumptions here and we both agree that this is a valid path to go for. Is that make sense like it's coming for sure. It's it's it's and you know if you don't have that as a business owner You know then. Getting a copy culture getting feedback is basically we come back to the same thing you you always in this industry. You can't you can't even if you have offers. That are doing eight nine figures a month a year a month or whatever the cases like you just. You have to make sure that you get feedback. You have to make sure that you keep ahead of the game. And that's what you guys are doing. And i want you guys to start a clubhouse chat when you do the those talks..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"It's like going from zero to where you are now running. You know twenty thirty you know. And so on. Million dollar businesses Is is nuts like this is. This is an industry where you know if you really put a lot of effort in it and you get the right coaching. You get you know Help you can really see some. Some some headway. You can really obvious. Increase your wealth so You know i. I love that story that you went out like your first thing was. Hey i went out. I go to coach. You know to get better so that obviously says that you had the tools you know. I mean you thought that that was a good idea so That's really cool. I'm curious you know you went from copywriter. And now obviously you know you did emails and so forth and now you're you're owning a coupla offers. What what are your biggest challenges like what. What did you go through to become from copywriter and offer near you touched on earlier. You said you had a couple of nightmares. Tell me a couple of nightmares in a couple of things that you you learn along the way well where we began the lakers. All you know What are we begin. He's i mean too many to start with the we'll start with like the part. I often that did very well. That's actually you know the one that julia may have mentioned. It was the the shepherds diet right. It was like a christian. We offer did really well at the time. I think it gross thirty million bucks in the first year. Something around there And i was a copywriter. But i wasn't the owner right and i learned that was that was. That was a hard lesson for me because i saw successful. It did and i wrote hundred hundred that coffee but i at the ended. I got screwed of that deal. Like i didn't get any of the roses. Isles promised they offer owners tried to lock me in this lake thing. Well if you want to keep the royalties you gotta like with other offers. And they changed the deal. After the fact and i was just like we said well with me stars like that's you guys. I'm outta here so that was first lesson your that Bley put some trust issues like having that experience made a gave me some trust issues with potential partnerships. Right so maybe a good year. They're mocking partner with anyone. I'm going gonna do this in my own That was probably a bigger to get over that trust issue right because you know again like it's partnerships are like marriages. You know you just don't get married anyone right like you've got to treat it with a lot of respect a lot of You gotta you gotta let it grow or anthony. Which i which i did with jillian. So that wasn't something that overcame in overcame with new a beautiful partnership so far..
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"I mean it's it's interesting that like A couple of things that i liked that you touched upon his leg just obviously happenstance and meeting julian and just clicking and taking advantage of that relationship but also you mentioned earlier and i just want to understand a little bit your path into becoming carburetor. You mentioned that you got some copy coaches when you kind of went to that. What did like what. Where did you look for them. And why did you think you needed them at that point. I think i answered the first the second question first which is why did i think i need them. I think it was just confidence. Our lack of at that. Point right. Like i hadn't i hadn't like.
Uncensored Direct Marketing
"$20 million" Discussed on Uncensored Direct Marketing
"I have andrew contreras who is julian epstein business partner. Julian was on our show. A couple of weeks ago So i thought we'd fill in the gap and talk to andrew today. 'cause andrew Is definitely a a mastermind behind the business. And it's gonna share some very insightful things with us copywriting and offer being an offer owner So andrew can you just tell us a little bit about your career path and how you got to where you are today. Yeah sure why. I guess we can Start in the beginning the beginning so i got in this business. They direct response marketing. It was like two thousand fourteen. So i'm actually relatively new to the industry What is at seventy seven years ago. I started out. Yeah i i was. I the owner of a sophomore company name athletic greens And i actually met him in the gym. You're you're now and he was very very guy and he was He said something along the lines of like you really get working out. You're really you know I love you know maybe maybe you can come and help me grow my business somehow related you know being really going to the gym or whatever the time to being able to help them with his business as heck i was actually in my life. I was actually in another transition from You know my previous greer's oil and gas business might my in. This may become relevant later on the conversation But i was like. I studied engineering and school That i was doing was like not creative. Cloud direct response marketing copies very creative like i came from a career. Were like a link. Asses is the gas industry generals about as non greaves yet. just pretty much and I got out of that career. And i was like you know my mid twenties single sizes like left the united states south america. That's where i met the some. The company and quickly realized that The key to growing business direct consumer was copy right like that was very clear to me like the words that you right to a. You know people they can like..
KZSC 88.1 FM Santa Cruz
"$20 million" Discussed on KZSC 88.1 FM Santa Cruz
"Unprecedented political isolation, A defiant New York governor Andrew Cuomo insisted today he would not step down in the wake of sexual harassment allegations. And condemned the expensive coalition of Democrats calling for his resignation as reckless and dangerous Politicians who don't know what single fact. But yet form a conclusion and then opinion Are, in my opinion, reckless and dangerous. My days in the three term Democratic governor had lost the support of almost his stake entire congressional delegation. None of the defections hurt more than those of New York's two United States. Senators, Senate Majority Leader Chuck Schumer. And Senator Kirsten Gillibrand due to the multiple credible sexual harassment and misconduct allegations. It is clear that Governor Cuomo has lost the confidence of his governing partners and the people of New York, the Democratic senators wrote in a joint statement. Governor Cuomo, they said, should resigned. The embattled governor's comments came on the day his party in New York and beyond turned sharply against him following allegations of harassment and sexual misconduct as well as Sweeping criticism of Cuomo for keeping secret how many nursing home residents had died of covert 19 for months. Cuomo's growing list of detractors now covers virtually every region in the state and the political power centers of New York City in Washington. Majority of the Democrats in the state legislature, all but a handful of the state's 29 member congressional delegation of called on him to step down. White House press secretary Jen Psaki today declined to say where they're buying believes Cuomo should resign, she said. Every woman who has come forth about harassment by the New York governor deserves they have her voice heard should be treated with respect and should be able to tell her story. Essence of Democrats had already called on Cuomo to resign this week. But the coalition or critics expanded geographically and politically today to include the likes of New York City progressives, US representative Alexandria of Casio Cortez, leader of the House Democratic Campaign arm, representative Sean Patrick Maloney, Buffalo based U. S. Representative Brian Higgins and a group of Long Island based state lawmakers who had been Cuomo loyalists and New York City Mayor Bill De Blasio joined in that it's not one. It's not too. It's not three. It's not Ford's not fighters. Six women who have come forward is deeply troubling this specific allegation. The governor called an employee it of his someone who he had power over, called them to a private place and then sexually assaulted her. Is absolutely unacceptable. It is disgusting to me, and he can no longer serve as governor. De Blasio and Cuomo have frequently been at odds. Never before has the 63 year old Democratic governor. The son of a New York governor himself been more politically alone. Cuomo today insisted he never touched anyone inappropriately and said again that he's sorry if he ever made anyone uncomfortable. Declined to answer a direct question about whether he's had a consensual romantic relationship with any of the women.
NewsRadio KFBK
"$20 million" Discussed on NewsRadio KFBK
"And Denver. Person point I made months ago proves the point I made two weeks ago that when you have a mob using violence for political ends doesn't matter what slogan they're chanting Flag there, waving. They have to be met with force and force has to be used to deter that violence. And if it breaks out to stop that violence that has to be the standard that we apply, whether no matter what slogan a mob is chanting, they were smashing windows and burning buildings when, but Donald Trump was president and other doing the same thing when Joe Brydon is president. No, you have in cotton brings up a great point. At what point Do we put a stop to this? That this is not acceptable behavior? You know, we've got a group out there. It doesn't matter who's in charge, right? We're just gonna go out and Ryan and a lot of that has to do with the local governments. I mean, if if the governor of Oregon and the mayor of Portland, right, it's not gonna do anything about it, Okay. It's difficult for the federal government away and also props to the local authorities in Sacramento because, Okay, we reported earlier the bill for taxpayers to secure the capital. Is about $20 million wasn't cheap. No, but Antifa protesters were out there and got nowhere near the cap. You know, I saw this picture of one of the law enforcement agencies. I can't remember which one tweeted this picture, So it was in front of the Capitol and you see, like 50 Antifa. Protesters standing right there. And then as you look up, you see a fence and then this wall of law enforcement across the front of the Capitol. There was no way anyone from MTV was gonna get close that capital. They did a great job there. And if Antifa in Sacramento should branch out start, you know, smashing windows like they're doing in Seattle important. We can only hope that maybe justice will be served. And they will stop damaging property belonging to other people. Right and businesses that are struggling enough amount, right? No kidding. Anyway, that was our featured audio clip this hour. We do that five minutes past every hour. In our program. We bring you audio clips you likely have not heard or seen on a network newscast, the local newscasts. Giving you a different perspective on the day's events. Okay, let's get you caught up now on this hour's top national story, Bro. Maybe. See News. I'm Brian Clark, one of Major League baseball's all time greats. Hank Aaron has died, according to multiple reports emerging from Atlanta, where.