40 Burst results for "2022"
The Breakdown
A highlight from A Leading Candidate for Next Speaker of the House is One of Crypto's Biggest Allies in D.C.
"Welcome back to The Breakdown with me and LW. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, October 4th, and today we're discussing so many interesting political stories. Broader political US machinations that have some interesting implications for the crypto industry. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello, friends. Happy hump day. Now, I mentioned yesterday that I wasn't going to do full SPF trial updates every day. My current plan, although it's, of course, always subject to change, is effectively to save up every few days for really important stuff and give you the full rundown. Now, that said, I will try to give you the very highest highlights if there's anything super important. And really, the only big notable detail yesterday was around witnesses. In addition to the FTX leaders that we know had cut deals with the Justice Department and who were planning on testifying against Sam, including Gary Nashad and Caroline, it appears as though former COO Constance Wang, and probably most notably to the crypto community, former Alameda Co CEO Sam Tribuco, are also planning on testifying. Given that that other Sam has not been heard from, effectively since he went off on his boat in the summer of 2022, that one certainly got some tongues wagging. Now, that said, when it comes to the crypto industry and its actual future, the much more interesting story was drama in Congress. I'm excited to dig into that. But before we do, I'm also thrilled to announce that the breakdown today is welcoming a new sponsor. That sponsor is Kraken. Now, Kraken is a company I've known forever. Their founder and former CEO Jesse Powell is one of the true OGs of the space. And I've just known tons of super high integrity people who have ended up working with Kraken. And I think that that comes out in a lot of different ways, including them being super early, for example, to proof of reserves. I'm really excited to have Kraken on board as a sponsor, and so you will be hearing from them over the course of the show and in future shows as well. But let's talk congressional drama and what it means for crypto. TLDR, House Republicans have plunged into disarray as the fallout from last week's narrowly averted government shutdown plays out. Specifically, House Speaker Kevin McCarthy has been ousted from his position after Matt Gaetz filed a motion to vacate, calling for a vote to remove the speaker. Now, this outcome always had some chance of being in the cards. McCarthy was elected speaker in January after a torturous, modern record 15 rounds of voting. McCarthy made a range of concessions and deals with various GOP factions in order to gather enough support to be elected speaker. Among them was a rule change that would allow any single House member to call for a vote to remove him at any time. Gaetz, who was one of the primary agitators pushing for a government shutdown last week, unsurprisingly pulled that trigger on Monday evening. The last straw seemed to be the revelation of a secret deal between McCarthy and the Biden White House to ensure ongoing Ukraine funding. On Tuesday, the House voted 216 to 210 in favor of McCarthy's removal. Several conservative Republicans joined with Democrats to support the motion. This is the first time in US history that the Speaker of the House has been removed by a vote. Indeed, even calling for a vote is extraordinarily rare, with the last one taking place over 100 years ago in 1910. Now, of course, there will be plenty of places where you can go discuss and hear about what it represents in terms of the state of American politics and the deepening divides within the Republican Party, but that's not really what matters in the context of this show. What matters is that shortly after the vote concluded, Republican Chairman of the House Financial Services Committee Patrick McHenry assumed the Speaker's role and graveled the chamber into recess. McHenry will now serve as the interim Speaker until a vote can be held next Wednesday. So the first part of the story is, of course, that Patrick McHenry, as you will well know from listening to this show, is one of the most pro -crypto congressmen we have. As leader of the House Financial Services Committee, he has worked very hard to push a number of different bills, including the stablecoin bill, through. And so the fact that we now have an ally sitting in that vaunted position should be a powerful thing, right? Well, practically speaking, the House will be held out of session until that vote next Wednesday, meaning that McHenry will not have an opportunity to advance a legislative agenda. Getting back then to who might end up as the Speaker, Gates and the rest of the House Freedom Caucus don't have anywhere near enough votes to advance their own candidate, but they are numerous enough to act as a veto for other potential speakers. McCarthy, for his part, has said he does not intend to put his name forward for consideration in next week's vote. And so, among a long list of potential candidates as a replacement, support appears to be coalescing around two options. First is House Majority Leader Steve Scalise. Scalise is currently finishing up treatment for blood cancer, but enjoys broad respect from both the establishment and radical wings of the Republican Party. The other leading candidate is House Majority Whip Tom Emmer. Emmer is, of course, known to the crypto space as a fierce advocate of sensible crypto regulation. He has advanced numerous bills on clarity for token issuers and resisting the creation of a CBDC. Now, Gates, for his part, has spoken kindly of both frontrunners. On Monday night, he said, I think the world of Steve Scalise. I think he'd make a phenomenal speaker. At the same time, Gates noted that unclear resolution to medical issues make it difficult to know whether Scalise will be an appropriate choice. On Tuesday night, he said something very similar about Emmer and ended the day with a shortlist of six candidates he would be willing to support, including both Emmer and Scalise. Now, if Emmer succeeds in gathering the votes to become the next House Speaker, he has an opportunity to push forward a crypto legislative agenda prior to next year's election. There are currently two bills which have been ratified by a committee and stand ready to be voted on in the House. One bill provides regulatory clarity for stablecoins, while the other establishes a regulatory framework for the crypto industry more broadly, including a division of power between the SEC and the CFTC. Neither bill is expected at this stage to have the votes to get past the Democrat -controlled Senate to become law. But that said, there have been some recent rumblings that Senate Banking Committee Chairman Sherrod Brown could be open to a deal with McHenry. Specifically, he might be willing to support crypto legislation in exchange for McHenry's support in passing cannabis banking reform. Now, we are still a long way from Emmer being placed in charge of the House agenda. There's no telling how long it could take to elect a Speaker. The last time around, this process took the better part of a week to resolve. And since then, the fractures within the Republican Party appear to have become more entrenched. Then after that, once a Speaker is elected, crypto ally or not, the number one consideration will be putting in place long -term government funding. The stopgap funding measures which were passed last weekend will run out in mid -November. The House Freedom Caucus has grown increasingly clear in their calls to reform the way congressional appropriations operate. Since 1990, the U .S. government no longer puts forward formal budgets with individual financing bills. Instead, the government is funded using omnibus legislation which deals with the entire annual spending in one gigantic bill. Gates called for a major reform of this system and a return to fiscal conservatism on Tuesday night in front of Congress. Gates said, You know what I think paralyzes us? Continuing to govern by continuing resolution in omnibus. You know what I think throws this institution into chaos? Marching us towards the dollar not being the global reserve currency anymore. Real chaos is when the American people have to go through the austerity that is coming if we continue to have $2 trillion annual deficits. Now, Democrats, for their part, appeared content to allow the chaos to play out. Ahead of voting with the House Freedom Caucus to remove McCarthy as Speaker, House Democrat leader Hakeem Jeffries said that the chamber has plunged unprecedented into dysfunction. So, bringing it back around to the crypto industry, I think there are a couple things to note. One, even if we get Emmer, his hands are somewhat going to be tied by the legislative body that he inherits and all of the challenges that it represents. As you've probably heard over and over from me, my base case is that we effectively limp over the line of the next election cycle without really getting much done in legislation of any form between now and then. Could this re -galvanize people and lead to some better outcomes? It's totally possible, but for those who are looking for the sunny side for crypto, it's probably very measured in terms of potentially nudging these few bills that have some amount of momentum forward rather than some big radical overhaul. Still, of course, if you're going to choose between a crypto ally as the Speaker of the House and not a crypto ally, it's pretty clear who we want. Now, for the second half of our show, we are going to stay in government land, but before we do that, a quick note from today's sponsor, Kraken. Kraken Pro is an incredible resource for advanced and professional traders. The all -in -one experience allows advanced traders to switch seamlessly between spot trading and other advanced products with a UI that is highly customizable to your unique trading style. With institutional -grade performance, Kraken Pro is Kraken's most powerful platform ever. Go to pro .kraken .com to get started. Thanks again to Kraken for supporting the breakdown. Alright, so as I mentioned, the other big story is that the SEC has been denied an early chance to appeal the Ripple case. On Tuesday, the judge refused to grant the SEC certification to pursue an interlocutory appeal. An interlocutory appeal is when a party is allowed to appeal a partial decision in an overall lawsuit before the case has been fully decided. The SEC had sought to appeal two parts of the decision from the Ripple case prior to a full trial on the question of whether Ripple executives had aided and abetted securities laws violations. Those two parts of the proposed appeal were that sales of Ripple tokens to retail investors through an exchange, known as programmatic sales, as well as the distribution of tokens to contractors and staff, both constituted unregistered securities transactions. The judge said that the SEC had failed to meet the legal standard required to bring an interlocutory appeal. Specifically, they wrote in their order that the SEC is not arguing that the court applied the law incorrectly. Instead, the SEC argued that the judge incorrectly applied factual analysis of the Howey test to the specific set of circumstances in the case. Digging in, the judge clarified their original decision. They wrote that they had not ruled that sales of tokens through an exchange can never produce a reasonable expectation of profits based on the efforts of others in order to satisfy the Howey test. Instead, the judge's decision was that the specific set of facts presented in the Ripple case did not satisfy the Howey test. As an extension of that logic, the judge also rejected the idea that the Ripple case has significant precedential value for other token cases. They stated that that would misconstrue the court's ruling. The order clarified that The court held that based on the totality of the circumstances in this case, including an examination of the facts, circumstances, and economic realities of the transactions, Ripple's programmatic sales could not lead investors to reasonably expect profits from Ripple's efforts. The judge explained that their analysis was based on a multitude of factors and did not turn on the fact that Ripple's offers and sales were on crypto asset trading platforms. They even referred specifically to an order made in the Terraform Labs lawsuit as well as the Library case and stated that the decisions were not in conflict because they deal with entirely separate sets of facts. Peels are only allowed to deal with a dispute on the state of the law rather than a disagreement on how the law has been applied in a particular case. In rejecting the SEC's argument that there was a substantial disagreement about the state of the law, the judge wrote that To simplify it down, the judge appears to be saying that there is no dispute that the Howey test is the correct legal theory to apply in the Ripple case, nor is there any dispute about the judge's understanding of the Howey test. The only disagreement the judge could find on the SEC's application was in how this judge applied the Howey test to the specific facts of the case. The judge ruled that this was not a disagreement subject to appeal. So what are the takeaways of this ruling? Well, one, the decision seems to severely restrict the SEC's ability to appeal the Ripple decision whatsoever. If the regulator wants to bring an appeal, they will need to find new grounds and argue that the judge got the law wrong rather than simply made a decision that they disagreed with. More broadly, this order seemed like an implicit criticism of the SEC's strategy of regulation by enforcement. If each token case relies on a separate set of facts and is of limited precedential value, the theory that the SEC can simply win a handful of cases and apply those precedents broadly across the entire industry appears much more shaky than it previously might have. Finally, the judge in the Ripple case appears to have given a lot of thought on how to make their decision unable to be appealed. This order did not give the impression that the judge was looking to make decisions that would need ratification in an appellate court. Instead, it appears that the original Ripple decision was written in such a way to make it resistant to appeals. They seem to have thought through the arguments that might be made to force an appeal and worked around them in advance. In terms of what's next, the judge set a trial date in April to deal with the remaining issues in the case, and the SEC will be able to make another attempt at an appeal once that trial winds up. Now, a lot of folks in the industry were, of course, very excited about this. Brad Garlinghouse, the CEO at Ripple, said, just that XRP in this case wasn't one, and that even though some XRP acquirers purchased it for speculation, the SEC didn't prove it was tied to the efforts of Ripple. Now, on the flip side, although the judge's decision was fairly firm, some crypto lawyers did caution against celebrating too early. Gabriel Shapiro, the general counsel at Delphi Labs, said, don't get too excited about the denial of SEC's interlocutory appeal in Ripple. It doesn't mean the SEC lost its appeal. It means that if the SEC wants to appeal, it has to appeal everything at once after the trial. Still, some useful clarification of Judge Torres's opinion. Consensus lawyer Bill Hughes, however, thought the decision was a more significant blow to the SEC, tweeting, SEC served another L in the Ripple case. Crypto has been calling BS on this making it up as you go approach. Good to see at least one court also taking note. So, friends, overall, a fairly exciting day in crypto land. We got a demonstration of how U .S. politics, as disconnected as it might seem from crypto, actually has an impact on how the industry might grow and develop in this country. And we got yet further evidence that when it comes to the rule of law and protecting this industry's right to, you know, be an industry, the courts are, at least at this time, our best backstop. In any case, that is where we will wrap for today. Excited to share more evolutions with you as they come. Thanks one more time to Kraken for sponsoring the breakdown. And until tomorrow, be safe and take care of each other. Peace.
The Eric Metaxas Show
Fresh update on "2022" discussed on The Eric Metaxas Show
"Well, so if people want to find out your schedule, where they can go to your events, what's the best website? Let us worship. They can go to lettuceworship.us. They can go to seanfoyt.com. They can text the word sean, S-E-A-N, to 20-22-1. If they just get their phone and they text sean to 20-22-1. To what? Sean to 20-22-1. 20-22-1. Yeah. 20-22-1. Okay. And the Superspreader film, they can go to superspreaderfilm.com, lettuceworship.us, if people want to follow you. I hope people will see the Superspreader film if they have not. And I hope people will find you because you're all over the country. Where are you going to be the next couple of weeks, for example? Well, we have one of our last events of the year in Fort Worth, Texas, that's happening middle of next month. And then we're culminating 2022 in Phoenix, Arizona.
CoinDesk Podcast Network
A highlight from UNCHAINED: SBF Trial | How Sam Bankman-Frieds Lawyers Might Try and Win His Case
"Thanks for listening to Unchained, your no -hype resource for all things crypto, on the CoinDesk Podcast Network. You can also listen to the episodes on the Unchained feed earlier if you subscribe there. Plus check out all our content on our website, unchainedcrypto .com. Very dangerous to call the defendant. However, you may be in a situation where the government puts their case on and you are going to lose. There is no way you're winning. You're only shot as a Hail Mary. Okay, let's put them on. The other side of the coin is it's very powerful when a defendant testifies. It makes it much harder for the jury to convict. They're not dealing with characterizations of a person anymore. They're dealing with that person. They have heard the person speak intimately in a courtroom. And even in cases I've had where a defendant testified, even when the jury ends up convicting, it often takes them longer to get there because it's a harder decision when a human being testifies to them. Starting on Tuesday, October 3rd, the day this episode airs, the world will be watching the criminal trial of the United States versus Sam Bankman -Fried. In this episode, my guests Kayvon Sadeghi and Samson Ensor unpack what it is we're likely to see in the trial, starting with what kinds of potential jurors it is that both the prosecution and the defense will want to deselect from the jury poll this week. Why it's even gotten to the point of a criminal trial given that three co -conspirators have already pleaded guilty, what the core of the trial centers around, and why it is they think the fact that it involves crypto won't matter. Plus, they explore the effectiveness of one potential defense from Bankman -Fried's side, the so -called advice of counsel defense that says that FTX's own lawyers approved of the company's actions. And finally, they raise the question that everyone will be looking for. Will Sam testify? 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 Plorbs, was the first mainstream media reporter to cover cryptocurrency full -time. This is the October 3rd, 2023 episode of Unchained. Buy, trade, and spend crypto on the Crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the Crypto .com app and get $25 with the code LAURA. Link in the description. Vaultcraft by Popcorn is your no -code DeFi toolkit for building automated, non -custodial yield strategies. Learn more on vaultcraft .io about how you can supercharge your crypto portfolio. The game has changed. The Google Cloud Oracle, built for Layer 0, is now securing every Layer 0 message by default. Their custom end -to -end solution sets itself up to bring its world -class security to Web3 and establish itself as the HTTPS within Layer 0 messaging. Visit layer0 .network to learn more. Today's topic is the trial for Sam Vangman -Fried. Here to discuss are Kay von Sodegi, Partner and Co -Chair of Fintech and Crypto Assets at Jenner & Block, and Samson Enser, Partner at Cahill, Gordon & Rydell. Welcome, Kay von and Sam. Great to be back with you, Laura. Likewise. Thanks for having us on. So, the day this episode airs is the first day of the criminal trial for the United States against Sam Vangman -Fried, the former CEO of FTX. Before we dive into the details of this trial, why don't we just have you each briefly describe how your background is relevant to this case. Kay von, would you like to start? Sure. Sure. So, I've been a litigator in New York for the last little over 20 years now, I guess, and in the blockchain space since late 2016, so I've been following all sorts of litigation enforcement actions in the space, including things related to the FTX situation, of course. I also know when things go criminal to open people like my friend Sam here, who have more direct experience, so I'll turn it over to him to discuss his background. Sure. Thank you, Kay von. I used to be a federal prosecutor in the Southern District of New York in the securities and commodities fraud unit, which is the unit that is prosecuting Sam Vangman -Fried. When I was there, I did their first crypto securities fraud cases. So what you're seeing in this case is sort of an evolution of some of the cases that I worked on. The prosecutors in this case are folks that used to be my colleagues. I know them well, both from when I was a prosecutor and now as a defense lawyer at Cahill. I tried a case in front of Judge Kaplan, who is the judge in the case. I know him well, and I've had a case in front of him as a defense lawyer. And the defense lawyers are folks that I'm friends with from both sides. I worked with them with Chris Everdale when we were prosecutors together. And now on the defense side, he and I have worked together on this side as well. All right. So to begin our discussion, why don't we first explain how this trial is different from, say, the SEC's case against Ripple, which secures to even get a judgment that is now being appealed. So how is this trial against SPF even able to start less than a year after FTX collapsed? Sure. I can jump in. For what a lot of people in the industry have been looking at are things like the SEC enforcement action against Ripple, Coinbase, other things like that, which are civil proceedings. And those tend to be preceded by years of investigation followed by, once a case starts, months if not years of discovery where parties are exchanging all sorts of documents, taking depositions, there's multiple rounds of briefing. And we end up with something like a decision on summary judgment, as we saw in Ripple, before you ever get to a trial to decide what's tried. That is a very different process than the criminal process, which involves a lot less discovery up front. You end up exchanging a lot less information before trial, and it's a much more accelerated time frame. And I think for talking about exactly how those mechanics work, maybe we can kick to Sam to discuss a little bit about that criminal process. Yeah, for sure. I think in a criminal case, it is very common to get from indictment to trial within roughly a year, even in a complicated case. This case is unusual in that the prosecutors investigated the crime very, very quickly. It was November of 2022 that I think the market and the public started to see signs that FTX was cracking. It was not long after that that there was an indictment. So they were speedy in the investigation. Judge Kaplan is a no -nonsense judge who does not like to move a trial date. So he is somebody who pushes a case to trial if that's where it's headed. And so that's why we are here. In the criminal context, as Kayvon mentioned, you know, in a civil case, you will get to question under oath that is depose the other side's witnesses. So there are no surprises at a trial. Not so in a criminal trial. The does defense not have the opportunity to... If the witnesses for the government don't want to be interviewed by them, they won't be. They don't have the right to question them. If those witnesses don't want to be questioned, they may not even know who the witnesses are. They may learn that for the first time very shortly before the trial. If you've seen the movie My Cousin Vinny, it's actually a pretty good summary of how the criminal process goes. You're there and you're hearing the testimony for the first time. You have to really be live on your feet to be able to deal with it. And that's something that I think surprises a lot of people who aren't familiar with the system because I think the natural instinct is, you know, civil cases are about money. Criminal cases are about your freedom. And you would think as the defendant, when your freedom's on the line, you'd have more rights to information that you would have more ability to mount your defense and have everything that you would need to do so. But in fact, it sort of works the opposite way that you have less information going into the trial. You have less rights to understand what the prosecutors are going to do than you would to understand what the SEC is going to do when they're bringing a case just for money damages. I think another thing to think about, and this has played out in some of the briefing ahead of trial, in the Ripple case, the defendants, the company and the executives who were named in the suit are not in jail. So they can run their business, they can live their lives, they can meet with their lawyers in a conference room to prepare. Sam Bankman -Fried has been repeatedly asking the judge to release him on bail because he is literally in jail right now awaiting trial. He was out on bail originally. He did things that caused the judge to detain him. And now he's sitting in a jail. What that means is his lawyers do not have 24 -7 access to him. He may not have full access to computers or things to do the stuff he needs to do to prepare. I can tell you on the defense side, I've had clients in jail when I've had to defend them. It is extremely difficult to confer with a client and prepare for court when you have limited access to them because they're in jail. Yeah, one other thing that I wanted to ask is why this even went to trial at all, considering that three of S .B .F.'s own colleagues will be testifying against him and have already pleaded guilty. So I don't really know. I'm not a lawyer. But in my head, it's like when you have that kind of testimony against you, you know, from witnesses that were directly there, does that mean that a plea deal wasn't even on the table? Or do you think Sam declined such an offer or, you know, what happened there? I am sure that if he had wanted to plead guilty, I doubt very much that the government would have been interested in letting him cooperate because he is, so to speak, the kingpin. When the government lets somebody cooperate, that is, plead guilty and testify against others to get a reduction or leniency at sentencing, typically the government wants to get somebody in the middle or the bottom and cooperate them up against somebody higher up in the food chain of a crime. I don't think there's anybody above S .B .F. We could have a discussion about whether he maybe knows things about others who would be peers of his in the industry, but I doubt the government was interested in his cooperation. Would they have let him plead guilty just to have some reduction in sentence exposure for the certainty of a conviction? They probably would have, but I expect they would have wanted a very stiff plea. And I think S .B .F., as some defendants do, they take the position, I didn't do anything wrong. I didn't act with intent to the fraud. And when intent is the key issue, what was in somebody's, between somebody's ears when they were doing something, it's very often that that gets tried. White collar criminal cases get tried a lot. And I think people, it is important in a white collar criminal case, when you're talking about fraud, very often, 97 percent of the facts are not going to be in dispute. In other words, the facts of did people deposit money or funds or digital assets on FDX not in dispute? What did the terms of use say, not in dispute? A lot of the activity is not in dispute. The question is, what was Sam thinking when he did certain things? Was he acting with the intent to deceive people and take their money or were other people doing that and he was just blissfully unaware? And so what you're saying is it really could be either that the government didn't offer the plea deal because they wanted to use the other witnesses to get him or that Sam wanted to take that gamble since, you know, it would be harder to prove what his intent was. So you're saying it really could be either? It could be either, but I would expect knowing the, I think if Sam wanted to plead and was willing to take stiff terms, he probably could have. I think that he drives the buck. The government decides whether you get charged, it's really up to the defendant to decide whether they go to trial. I don't expect they were going to be, as you say, it's a stiff plea that would have been available if anything. I mean, there was going to be no light sentence on the back of a plea here. So I think Sam was looking at any plea would have probably been a long time behind bars. And so at that point, maybe you decide to take your chances in his shoes. Because of the sheer amount of money and the number of charges. Yeah. Okay. So the main task at the start of the trial will be to choose the jurors. What do you think each side will be looking for when it comes to prospective jurors? So we've got a, you know, a little bit of a, of a hint from the voir dire questions that each side has put forward. You know, I think - That's the name for the process for vetting the jurors. Exactly. Maybe, maybe it makes sense to start with sort of how that process will unfold. So the trial will start with the selection of jurors and it's very different in a civil case as we're dealing with here or than in the criminal case. So civil case, the lawyers get to ask questions directly of the jurors, particularly in state court and it's a very freewheeling process. In a federal criminal case like this, the questions are handled by the judge and both the prosecution and the defense have submitted proposed questions to the court that will help guide what the court asks of the jurors. And a lot of it is pretty typical stuff that both sides somewhat agree on. And you want to know if people have any connection to any of the parties in the case, any of the lawyers in the case, if they have certain direct background and exposure to FDX or things like that. I think where some of the differences lie is whether people have broader exposure to crypto or the crypto industry generally, if they have views on any of that, or even the financial markets is one of the areas that parties may be touching. And then once we move past that, the defense was trying to, you're asking the judge to get into areas that I don't expect he will, but looking for any exposure to or experience with people with ADHD, any things along those lines that you can tell are sort of teeing up some of their defenses. So I think the defense will be looking for people who will be more sympathetic to some of those additional factors where, as I imagine the prosecution will be looking for people who are probably generally skeptical of crypto overall and avoiding any of those sort of sideshows. I would put it in three buckets. I think the government and the defense will think about the types of jurors into three buckets. One bucket are people who are sort of the quintessential citizen, common sense oriented. They work a job they can convict. Those are the people the government likes. So somebody who holds a job, somebody who is a boss, somebody who's a mid -level manager. So they are committed to society. They have to make decisions. They sometimes have to make decisions on incomplete information. That's the type of person the government would want. Then you've got people who are extremely technical, who want proof in mathematical certainty. Those are folks that the defense would like and that the government might not like. And then in the third category is another group that the defense would like. And those are folks who are more emotional and not necessarily going to be driven by the sort of inferences the government will put before them. So for example, the government likes to strike social workers, very afraid of having a social worker on there who might sympathize with a young defendant and say, you know, maybe a mistake was made here. I'm not sure beyond a reasonable doubt that this person should go to jail. No, wait. Just to go back to people who are either familiar with crypto or financial services, it wasn't clear to me. So it seemed like you were saying that, you know, the government would seek people who were skeptical of crypto. But if you're, if you just are knowledgeable, then is that, it seems like that would be better than for the prosecution rather than for the defense. Am I right in thinking that or? It's hard to read the tea leaves of exactly how that one will cut. You know, one of the defenses that, that we can see Sam Bankenfried would like to put forward and that the prosecution is opposing is an idea of sort of blame the regulators, blame the uncertainty in the industry, all of those sort of things to suggest that this was wild west, it wasn't clear what the rules of the road were, and therefore that should absolve him of some responsibility. And I think that's something the prosecution understandably doesn't want to get into and the judge has indicated, you know, there's going to be a pretty tight leash on anything like that, I think. But people who are very steeped in the crypto industry may have more of those views. They may be, you know, they may think that the uncertainty in the government's approach is partially to blame for what's happened, things like that. And so anybody who's so close that they may have some of those views may not be an ideal juror for the prosecution, but somebody, you know, somebody who's lost money, lost money or knows people who've lost money in some of these scams may be, you know, may be more likely to be a good juror for the prosecution. So it's hard to see exactly how those things will cut. I think it's important to note also, we call it jury selection, but it's actually a misnomer. The right name for it should be jury deselection. You don't pick your jurors. You get a pool of people and you have a certain number of strikes. And so really what you're doing is picking the worst apples and deselecting them and you're stuck with what you're left with. And so it's really, I think when trial lawyers do jury selection in a criminal case, they think about who are the people I have to get rid of? Who can I just, who can I not have on the jury? Government does not want the social worker on the jury. The government does not want, they don't like lawyers on the jury because they fear that a lawyer might just take over, creates unpredictability. Another sort of advantage for the defense is that the government has to get 12 jurors unanimous to prevail. If the jury is not unanimous, that's a hung jury and it's a mistrial, which basically is a victory for the defense. And if the jury unanimously wants to acquit, that's a victory for the defense. So it's the, the, the, the government needs to be able to get a group of people who can agree. Maybe somebody leads them and the rest of the people can go along with it, but they have to be able to reach consensus. That's important as well. Yeah. This is definitely a pretty complicated chess game. It sounds like, so one other thing that will happen or might happen after the jury deselection is that Judge Kaplan, Judge Lewis Kaplan, who is the judge in this case, might give a pre -opening jury charge. Explain what that is and why it is that he might give this or why he might not. Sure. So it is common practice before the commencement of the, the body of the trial, which is the opening statements of the lawyers, the presentation of evidence, and then closing arguments. Before the sort of body of the trial, the judge will typically give preliminary instructions to help the jury understand what they're going to hear. So the judge will say, you know, you're going to hear opening statements. These are the lawyer's attempt to give you a preview of what to expect, what the lawyers say is not evidence. And some rules of the road, some general rules of the road, and that's common. What Judge Kaplan does that's unique, he doesn't do it in every case, but he has done it in some, some criminal cases where it's complicated, is he will hone in on what he thinks is a key issue in the case and flagged for the jury. One of the key issues in this case is going to be a dispute about X. Here are the key rules you need to know about the law on how to decide X. Why is that important? It focuses the jury. It gives you a sense of what the judge thinks is the real battleground.
The Dan Bongino Show
Fresh "2022" from The Dan Bongino Show
"83 degrees, midway in 81. Thanks for watching. Many people you may think custom blinds is a job for expensive professionals. Well, at Blindster, if you have a tape measure and a screwdriver, you can install our custom blinds and save big. Plus, we guarantee they'll fit. Blindster .com. 54 -year -old Shane Wood of Springfield, sentenced to four and a half years in prison. That's the longest sentence so far for any of the 40 Illinoisans charged in the January 6th attack. He's pleaded guilty to assaulting members of the media and tripping a police officer. But Wood also faces 20 to 60 years behind bars in a state murder case after police say he botched a suicide attempt on a highway in Sagamond County in 2022 and instead killed another motorist. He was charged by a grand jury with first -degree murder. The body of Senator Dianne Feinstein will lie in state at San Francisco City Hall for mourners to say goodbye. It's the building where she served as board supervisor and the city's first female mayor. Former House Speaker Nancy Pelosi called her the city's forever mayor. Feinstein died on Thursday. She was 90 years old. Main Township District 207 in Naperville's Prairie District 204 will receive a lump sum payment from the Altria Group, the former chief investor of Jewel Labs. The Daily Herald reports District 207 will receive over $44 ,000. District 204 will receive a lump and 204 District rather will be paid over $248 ,000. The districts are part of a 1 of 1 ,500 school districts that took on the company in a class action lawsuit alleging that Jewel targeted teens. WLS News Time 132. This WLS AM 890 program is presented by First American Bank, the bank that does more for your money. Taking a look at traffic right now. The Kennedy inbound outbound from O from Route 390 to the post office, 34 minutes, 41 minutes outbound. The exit ramp is closed due to an accident at Costner Stevenson inbound from 355 to Lakeshore Drive, 24 minutes, 34 minutes on the outbound side. Next traffic update Date and 15 minutes. Sponsored by Indeed .com. Fall into a hiring spree with Indeed. Their end -to -end hiring solution makes it easy to attract, interview, and hire candidates. Sponsor a job and instantly receive
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 10-04-2023 07:00
"659 on Wall Street. Stay with us. Bloomberg's surveillance with Tom Kean, Jonathan Farrow and Lisa Abramowitz starts right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This environment was clear from early 2022 that we could be back in a 4, 5, 6 percentage straight environment. Rates are a very self -correcting sort of thing. What we need is we need stability. Rates don't need to go down from here. What we're seeing is the underlying fundamentals are still good. Businesses are looking at the fact that the cost of capital is rising when they're starting to pull back on investments. The hire for longer is coming to a reality where the market's been in denial of that. This is Bloomberg Surveillance with Tom Kean, Jonathan Farrow and Lisa Abramowitz. A global bond market sell -off for some D .C. dysfunction. Live from New York City this morning, good morning, good morning. For our audience worldwide, this is Bloomberg Surveillance on TV and radio. Alongside Tom Kean and Lisa Abramowitz, I'm Jonathan Farrow. Your bond market looks like this this morning. Your 10 -year, 480. Your 30 -year, briefly, TK, 5 % a little bit earlier today. And it's the way we went to 5 % in the last 48 hours, John. Really a great unraveling. I've been doing some math stuff this morning. Let's lose the math. Right now, it's the motion. And there's a point, Liz Goldenberg, legendary at Bloomberg on fixed income, was really good on this. There's a point, John, I don't care what all the TV bow ties, fancy British ties say, price matters. And we don't talk price because yield is something you can grab. This morning, price matters to Gene Tenuzo, Jay Polosky and everybody else coming up this morning. We can talk about the price of the long end, that's for sure. There was a 30 -year issue and we've talked about it lots here at Bloomberg. Lisa issued a couple of years ago.
Bloomberg Markets
Fresh update on "2022" discussed on Bloomberg Markets
"In six kids in the US are hungry. This breaks my heart and it's something that feeding America is working to change. Each year the feeding America network of food banks rescues billions of pounds of good food that would have gone to waste and gives it to families in need. To help visit feeding America dot org. Brought to you by feeding and the ad council. Markets headlines and breaking news 24 hours a day at bloomberg .com on Bloomberg television and the Bloomberg Business Act. This Bloomberg Business Flash. And I'm John Tucker and the Bloomberg News. This Bloomberg Business Flash. Pretty choppy trading market today after yesterday's sell -off. S &P 500 has peered some of the earlier gains. Right now it's up about 13 points. Now market technicians they've been looking at the 4200 level that's the 200 a moving average for the index but dropping below 4200 would also mean the S &P 500 no longer would have a 20 % gain from the October 2022 lows. A 10 year treasury yield has remained lower on the day after weaker data today and traders are pricing in a less than 1 in 5 chance of a Fed rate increase at their November meeting. Right now the Dow Jones industrial average 4 points lower the S &P 500 is up 11 points right now 4241 on the index and the Nasdaq 100 131
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1420: Bitcoin Will Surpass $1,000,000 By This Time - Max Keiser
"And here's your prescription. I know just the pharmacy to get this filled. Who are you? A pharmacy benefit manager. A middleman your insurer uses to decide which medicines you can get, what you pay, and sometimes even which pharmacy you should go to. Why can't I go to a pharmacy in my neighborhood? Because I make more money when you go to a pharmacy I own. No one should stand between you and your medicine. Visit PHRMA .org slash middleman to learn more. Paid for by pharma. In today's show I'll be breaking down the latest technical analysis as one analyst predicts a Bitcoin price crash all the way down to $20 ,000. And check it out moving forward all crypto news alerts YouTube videos will have both English and espanol subtitles available. I'm also currently working on a dedicated channel dubbed 100 % in espanol. Let me know if that excites you. Also check this out Stanley Drunkenmiller is now known as one of the most successful hedge fund managers on Wall Street and is currently worth $6 .2 billion. He says straight up frankly if the goal bet works the Bitcoin bet will probably work better per each. Also in today's show Ethereum futures ETFs garner a lukewarm reception on the first day of trading with all of the trading volume across nine products at less than $2 million. We'll also be discussing the crypto community tells Elon Musk to dump the Satoshi X account. I'm also going to be sharing with you a Satoshi Nakamoto secret email emerging from the shadows never shared before. As well as here's what's in store for Bitcoin in the S &P 500 for quarter four of 2023. According to crypto analyst Jason Pizzino I'm also going to be sharing invest answers unveiling his max upside price target for Bitcoin in 2025. And quoting Max Keiser from November of 2011 he says Bitcoin has about 100 ,000 users now. My goal is to try to get that number up to 1 million in 2012. He also shared his short -term price target of $65 ,000 back in January of 2021 and lo and behold by November we smashed that price target. He now says that BlackRock agrees with my 220 ,000 interim price target for Bitcoin which he says is still in play. He also says by the time America catches up to El Salvador and starts buying Bitcoin the price will be over a million dollars per coin. 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 youtube channel at cryptonewsalerts .net again that's crypto news alerts dot net welcome everyone just joining us this is a live show as you know seven days a week welcome to the number one daily Bitcoin pod this is pod episode number 1420 just blaze today is October 3rd 2023 and the markets are correcting and consolidating after the recent pump let's kick off today's show with our market watch as we do each and every day you can see Bitcoin correcting down 2 .2 % trading just above twenty seven thousand two hundred dollars also ether is down trading at 1650 along with the majority of the altcoin market and checking out coinmarketcap .com we're still sitting at 1 .08 trillion dollars with roughly 36 billion in volume in the past 24 hours we've got the Bitcoin dominance which has recently been on the climb currently at forty nine point three percent with the ether dominance barely up trading at eighteen point four percent and checking out the top 100 crypto gainers of the past 24 hours we got gala leading the pack up almost seven percent trading at one and a half cents followed by conflux up three percent trading at thirteen point six cents followed by polygon matic three percent trading just under fifty seven cents and checking out the top 100 crypto gainers of the past week we can see ultimately a sea of green with a handful in I mean a sea I should say of red with a handful in the green with our LB leading the pack of roughly seventeen percent with the biggest losers being Bitcoin cash and Ave down collectively roughly seven percent and checking out the crypto greed and fear index one of my favorite indicators hence why I shared every day in the show we're currently rated dead in the middle with a 50 which is neutral same as yesterday last week was a 46 and last month a 40 in fear so there you have it how many of you are currently bullish on the king crypto let me know and how many of you are anticipating a low as I'm going to be sharing an analyst predicting a twenty thousand dollar price crash and we'll be breaking down everything in between so let's get it shall we and again welcome to everyone just joining us make sure to say hello in that live chat as this is a live and interactive show and at the end of the show I read everyone's comments out loud so let's break down today's Bitcoin technical analysis Bitcoin just hit six week highs to start off October but some forecasts still see the Bitcoin price returning to twenty thousand in which lo and behold there's a CME futures gap if you didn't know and while up around six percent since the start of last month and now circling twenty seven five Bitcoin is not fooling many with its current price behavior the Bitcoin price strength in the recent weeks has many market participants hoping for a push and even through thirty thousand resistance send it let's go for some there remains every reason to be cautious however in an ex post analysis published October 2nd popular trader crypto bullet reiterated that twenty thousand is still very much on the radar as the Bitcoin price target the latest trip to twenty eight six he argued is now forming the right hand shoulder of a classic head and shoulders chart pattern with the downside logically due to follow if it completes quitting analysts here second half of October should be bearish in my opinion the idea was built on an August roadmap with a short term upside target of twenty eight thousand before reversing towards that twenty thousand target let me know if you agree or disagree with the analysts I disagree I think we are bullish for this October and I think we're more than likely to continue up but it's good to cover all our basis is here now not all reasons headed heeded his warning with fellow popular trader you easy in particular skeptical of the likelihood for this scenario playing out crypto bullet however is far from alone when it comes to fearing that the worst for Bitcoin is over yet and one of crypto quants quick take blog posts on September 28th we had Wetson founder and CEO of crypto trading resource dominando crypto compared bitcoins performance between 2020 and 2022 quitting the analysts here between 2020 and 2022 Bitcoin underwent a notable appreciation region historic highs and capturing global attention however this phase was followed by significant correction that caused the prices to plummet sending crypto back to the lower levels say goodbye to your credit card rewards big -box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets Senate bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it if you love your credit card rewards visit hands off my rewards calm and tell them to oppose credit card routing legislation paid for by the electronic payments coalition now we also suggest that should history repeat a sub 20 ,000 level could resurface and an accompanying chart offered a fractal which now has been subject to a repeat quoting him again now in 2023 we are once again witnessing Bitcoin achieving over a hundred percent gains attracting substantial interest from institutional and retail investors nonetheless the market has recently experienced significant volatility and a downward price trend the similarity to the past raises questions about whether we are witnessing a repeat of the 15 ,500 USD if this fractal holds over the next few weeks which could result in a series of FUD and negative news in the crypto space furthermore there's a possibility of a redistribution where the price threatens significant highs but institutional profit -taking forces the price down creating the atmosphere of uncertainty in the market and as reported we also had another analyst rack capital who's demanding that the bulls step up to protect this support in order to avert the long -term retracement now for news as I shared in the intro of the show moving forward all crypto news alerts YouTube videos will have both English and espanol subtitles available and I'm currently working on a dedicated channel dubbed 100 % and espanol so we can serve our Latin community for the Bitcoin daily news let me know if this excites you and if you'll be one tuning in and also as shared here breaking news Stanley drunken Miller known as one of the most successful hedge fund managers on Wall Street who has worked 6 .2 billion he says frankly if the goal bet works then the Bitcoin bet will probably work better how many of you believe that he is probably right let me know your honest thoughts fam in the comments right down below and with that being shared yesterday was a historic day for ethereum futures ETFs launching however they ultimately flopped with less than two million dollars in trading volumes across nine assets so let's break this down and discuss it shall we here we go check it check it check it the rush of excitement that accompanied the launch of nine new ethereum futures ETFs appears to have yielded little in the way of investment dollars in comparison October 2nd nine new ETF products which are designed to track futures contracts tied to the value of the ethereum native currency arrived on the market of these funds only five hold exclusively ether futures while the other four track a mixture of Bitcoin and ether futures contracts quoting Eric Balchunes right here unprecedented day today with multiple ETFs all launching at the same time no clear winner has emerged all of them were pretty average lower than I would have predicted but it's a long run and remember these hold futures ETFs investors much prefer physical to derivatives that's right we much rather prefer spot ETFs because there's nothing but manipulation and price suppression continuously occurring in the futures market all by design hence by the regulators decide not to approve anything spot related but they continue to approve the futures ETFs which blows my mind personally in total all nine ETFs witness less than two million dollars worth of trading volume which is essentially nothing as a midday Eastern Time on the first day of trading the most popular of the futures ETFs products were Valkyrie's Bitcoin strategy ETF which tracks the combo of Bitcoin and ether raking up a total of 880 2 ,000 worth the volume it's worth noting had already been trading as a Bitcoin only futures ETF since October of 2021 but then adjusted its strategy to also include ETH the first day trading volume of ether ETFs paled comparison with that of the pro shares Bitcoin strategy ETF which debuted October of 2021 one month prior to hitting that all -time high and during a roaring market for crypto assets obviously it witnessed more than 1 billion dollars in trading volume on its first day so Wow compare that 1 billion in 24 hours to less than 2 million in 24 hours crazy now Balchune has noted that compared to the regular traditional finance ETF launched the volume witness was actually quite a lot though investors tend to prefer spot ETF products over futures Balchune has explained that all the products were scheduled for launch on the same day as the SEC wanted to prevent any one fund from gaining market domination now what if the SEC decided to do the same thing with the spot ETF approved them all at the same time like whoa meanwhile a range of United States firms jostled for the pole position for the nascent ether futures market ETF firm volatility shares canceled his plans to list a similar product saying that it didn't see the opportunity at the current time well we all know this we're all seeking the spot ETFs those are the game changers and there is probably about a 95 % chance that the BlackRock Bitcoin spot ETF get approved in 2023 I mean 2024 we're in 2023 hopefully right before the having occurs scheduled to be in what is that April of next year roughly six months out as we know it's gonna trigger trillions of dollars cascading into the Bitcoin market and that alongside the Bitcoin having are the two biggest catalyst for 2024 and let's add a third bullish catalyst which is a supply shock as there's currently less than two million Bitcoin sitting on the exchanges and for these ETFs once they get approved for the spot they have to be holding the underlying asset so there's gonna be mass accumulation continuing by the whales not only in this fourth quarter of 2023 but collectively in 2024 as well so let's freaking go and with that being shared now for the Satoshi X saga going on and also I want to share with you Satoshi Nakamoto's secret letter which came from the shadows never shared before I've never read it I'm gonna be reading it in real time with you so let's break this one down shall we members of the crypto community have rallied behind a post on X calling for Elon to remove a profile claiming to be the fabled creator of Bitcoin Satoshi Nakamoto and here's your prescription I know just the pharmacy to get this filled who are you a pharmacy benefit manager a middleman your insurer uses to decide which medicines you can get what you pay and sometimes even which pharmacy you should go to why can't I go to a pharmacy in my neighborhood because I make more money when you go to a pharmacy I own no one should stand between you and your medicine visit ph RMA org slash middlemen to learn more paid for by pharma October 3rd the user posted saying that both the account claiming to be Nakamoto and account with the handle Bitcoin should be removed because they breached the platform's terms of service which says doesn't allow misleading and deceptive identities as predator shared here hey Elon Bitcoin and Satoshi accounts are in breach of your terms of service for using misleading and deceptive identities please remove their checkmarks I guess it could be confusing to people thinking it is an official Bitcoin account and we know there will never be an official Bitcoin account and an official Satoshi account which we all know there will never be an official Satoshi account he says you can't misappropriate someone else's identity without disclosing you are a parody account it is no different than making a fake Tesla or Elon Musk account and I think he makes a great point what are your thoughts chat let me know the true identity of Nakamoto has been subject of discussion and the Bitcoin and crypto community as we know since the inception Satoshi X account is reportedly run by a user named Andy Rowe who was claiming to be posting from a profile back in 2018 and on July of 2018 Rowe said he curates quotes for the Satoshi account as outlined right here the account had been quiet since October 31st of 2018 however October 2nd yesterday the account made a new post saying Bitcoin is a predicate machine and went on to explain that it would explore different aspects of the Bitcoin white paper over the coming months as Satoshi Nakamoto announced here on X now what are your thoughts fam let me know another user call for the accounts to be disabled linking or likening them to how X responded to the account with the handle internet yeah interesting the Bitcoin creators true identity to this day remains a mystery what many people over the years claiming to be the true Satoshi the most prominent of which is fake Toshi Craig right now let's discuss this particular letter which recently surfaced from the shadows allegedly from Satoshi Nakamoto check this out fragments a Satoshi secret identity the genius responsible for the birth of Bitcoin has resurfaced shedding new light on the creation of the world's first crypto this revelation comes in the form of an email and bearing the date August 22nd 2008 we all know the Genesis block was I believe in January of 2009 now the email director to computer scientist way die offers a captivating window in the nascent stages of bitcoins creation a journey that would go out to profoundly alter the contours of the global financial realm this recently unveiled correspondence serves as a valuable historical artifact shedding light on the intellectual exchanges and collaborative efforts that paved the way for the development of Bitcoin by delving into this previously hitting piece of communication from Satoshi to way day we gain invaluable insights into the genesis of the revolutionary crypto a technology that would ultimately disrupt and redefine traditional financial paradigms worldwide so let's discuss it in the email Satoshi expresses profound admiration for way dies be money page indicating a strong connection to dies groundbreaking work in the field of digital currencies Satoshi goes on to reveal his intention to release a comprehensive paper expanding upon dies ideas ultimately culminating in the birth of Bitcoin now let's read the actual letter you can see it's dated here August 22nd 2008 sent at 438 p .m.
Available Worldwide
Fresh update on "2022" discussed on Available Worldwide
"Such a unique experience, too, that we were able to do that for so many years before even the pandemic, too. Yeah, that's like a throwback to pioneer times. You know, you get to have lunch together and dinner and breakfast, you know, spend all sorts of time, take a break in the middle of the day and you're like, my family is still here. Right. And if there is any, like, quote unquote, emergencies with children, like blowouts or whatnot, I was able to just be like, hey, Scott, do you have a minute? Come help me out. And he would be able to help me out a lot of the time if he wasn't in a meeting or whatever. Sweet. So you guys were leading up to this life for a while. In that time, what did you imagine that Foreign Service life would be like for you? Did you think, you know, tea and cookies? What was the what was the vision? So my in-laws joined the Foreign Service when Scott was 10 years old and their first post was in Delhi. And so my mother-in-law had talked a lot about the difficulty of that post. I think it was in 99 that they were there. And so she has some old journal entries just about how the culture shock hit her, which she had grown up overseas and moving around as well. And so the fact that it hit her so hard was interesting to me. So you thought that you also you thought you might also have that kind of sense of getting smacked in the face by the culture once you arrived? Right, exactly. And my family was really worried about me going overseas just because I grew up in Utah and that's pretty much all I ever knew. We lived in Texas for like a year and a half. But other than that, I've always lived in Utah. And so my worldview was quite small and my family just was worried about how hard the culture shock would hit me and whatnot. But we have been so pleasantly surprised with this post. We obviously were expecting a different story than what we ended up with, because when we signed up to come to Guangzhou, it was last fall. I mean, you were here, everybody was in lockdowns and the news was changing every day about how intense the lockdowns were in some places and all the testing you had to do even to go to the grocery store. And they weren't sure when those lockdowns would let up or if COVID-0 would ever end. And so we were mentally preparing for all of that. And then the weeks leading up to us coming was in December of 2022. And all of a sudden, the Chinese government was like, OK, we were quarantining people last week and tragedies were happening. But this week we are done and you don't have to quarantine anymore at all when you come into the country. So I was actually coming back at the same exact time as you because we had just left Guangzhou for our very first trip out of China in three years at around Thanksgiving of 2022. So we were also in America thinking about all those kinds of, oh, we have to go back in quarantine, we got to prepare, go shopping for 21 days of snacks and I better make sure I bring some hot sauce with me. Is that kind of what you guys were doing when you were leading up to the trip? Absolutely. We were preparing all the snacks, worried about what our kids would be able to eat or what they would eat.
Bankless
A highlight from Most Important Macro & Crypto Trends in 2023 & Beyond with David Duong
"Bankless Nation macro is on the menu for the special live stream that we are doing. Whatever happened to the recession is the question on my mind and on David's mind. We're going to ask that of our next guest. Was it delayed? Was it canceled? Or maybe it's already here and we just don't know it yet. David, we have the head of research on from Coinbase and our guest's name is also David. So I am between two Davids on today's episode. Introduce this topic for us. I don't know yet. I can't wait to experience the David effect, but why are we talking about macro and who do we have on today? The time for macro for 2022 was the year of macro. That macro has you all flustered. Yeah, it has me all flustered, right? And for a while it was the theme that we wanted to talk about. It's macro, macro, macro. The last time I think we talked about macro was the Silicon Valley banking crisis. I don't even know if that's considered macro, but all of a sudden macro seems to have been gone from the limelight. And so the question is like, why are things so quiet? Are things, are we in the all clear? Did we get the soft landing? Is that what this looks like? Or are things a little too quiet? Why are things quiet? Like there's many different things to talk about that are going on in the macro land. The state of inflation. Why are equities so high? Is what's the Fed going to do when they meet in a few weeks here at the end of this month? And what's the deal with the correlation between crypto and stocks? Yield and dollar at all time highs. Can we start to pattern match some of these things? And what can it tell us about Q4 2023 and 2024 and beyond? Yeah, I feel like this is, things are quiet, a little too quiet. I feel like this is the part of the horror movie where everything is quiet and you're just in the suspense. You're just waiting for the next shoe to drop. So maybe that's part of it. David, before we get in though, we got a quick PSA and this PSA is for ourselves. This is all about becoming a bankless citizen. So you're listening to this episode of bankless, which means you are an enjoyer of the podcast. At least we hope you are. You're not just listening to this out of pure hate. There is the potential for you to become a bankless citizen. We don't often talk about this on the podcast, but there are a slew of tools that you unlock by becoming a bankless citizen. One of which is the premium feed, the citizen premium feed, we call it. This is a dedicated RSS feed with bonus episodes and it's completely ad free as well. And you get that as a result of becoming a citizen. There's also some really cool features that we've added here lately, including the token hub, which is our bearable neutral rating on our website for various tokens. We've just rolled out an airdrop hunter is an opportunity to see which, which air drops, which potential quests you can go on and potential protocols you can test out for airdrop eligibility. And I think this is probably my favorite new feature. This is a bankless claimables. You put in your ETH addresses. Basically it tells you what you can claim on chain. I didn't know this actually, but I've just recently looked at this. I have apparently $103 in one of my ETH addresses here that I can go claim.
Bloomberg Surveillance
Fresh update on "2022" discussed on Bloomberg Surveillance
"World Join is improve to free the cure us. quality leukemia, of of blood life We cancers. of are lymphoma, patients the and Leukemia Hodgkin's their families. Join and us disease, as Lymphoma we and myeloma. light and the Join Society. us. night for when we a walk, Our We loved are aim one. Our is mission to cancer runs. Join your community and help bring light to the darkness of cancer. Join us as we light the night. Find your local event at lighthenight .org. That's lighthenight Neil Armstrong waited 6 hours and 39 minutes to step onto the surface of the moon. Jackie Robinson waited 20 months to play his first game with the Brooklyn Dodgers and even DiCaprio had to wait 22 years to win an Oscar. You can wait until your destination. Don't text and drive. Visit stoptextstoprex .org. A message brought to you the by National Highway Traffic Safety Administration, Project Yellow Light and the Ad Council. Broadcasting 24 hours a day at bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Thanks This is Bloomberg surveillance. This environment was clear from early 2022 that we could be back in a 4, 5, 6 percentage trade environment. Rates are a very self -correcting sort of thing. What we need is we need stability. Rates don't need to go down from here. What we're seeing is the underlying fundamentals are still good. Businesses are looking at the fact that the cost of capital is rising when they're starting to pull back on investments. higher The for longer is coming to a reality where the market's been in denial of that. Bloomberg surveillance with Tom Kean and Paul Sweeney on Bloomberg Radio. Good Wednesday morning from the Bloomberg Interactive Broker Studio in New York City to our worldwide audience. Equity futures point to a higher open this morning. Yields pullback, 10 -year Treasury yielding about 4 75 % on
CoinDesk Podcast Network
A highlight from SBF TRIAL: 10/03 Update
"Welcome to the SBF trial, a Coindesk podcast network newsletter bringing you daily insights from inside the courtroom where Sam Bankman -Fried will try to stay out of prison. Follow the Coindesk podcast network to get the audio each morning with content from the Coindesk regulation team and voiced by Wondercraft AI. We may not know for weeks whether Sam Bankman -Fried will take the stand at his own trial. He may want the chance to explain himself to the jury, but his lawyers are surely wary of the withering cross -examination such a tactic would invite. No matter, the unconventional former crypto executive has already said publicly plenty about what went down in FTX's final days. What follows are a series of excerpts from interviews that SBF gave in the month between FTX's collapse and his arrest in the Bahamas. They provide a picture of the mind of the man prosecutors allege was behind one of the greatest financial frauds in history. According to the man himself, he was a well -meaning altruist whose heady risk -taking got him in over his head. In early December, a Wall Street Journal interviewer pressed SBF on his knowledge of operations at Alameda, the crypto hedge fund accused of borrowing billions of dollars in crypto from FTX and its unknowing customers. According to SBF, who had a 90 % ownership stake in Alameda and lived with its CEO, Caroline Ellison, he too didn't fully know what was going on there, a refrain he later echoed in documents shared with the New York Times. FTX was a full -time job, he told the Journal. It was more than a full -time job, and I didn't have enough brain cycles left to understand everything going on at Alameda if I wanted to. I also didn't want to because I was concerned about conflicts of interest, and I felt like it would be inappropriate for me to be looped into, certainly to details of what was going on there. Prosecutors are almost certainly keen on demonstrating the opposite to the jury. Here, testimony from Ellison herself may prove critical in showcasing what SBF knew and when. One thing he did seem to know, or at least claimed, was that FTX's U .S. operations did not go kaput when its sister exchange, FTX International, fell into the black hole of those Alameda loans. I believe that withdrawals could be opened up today, and everyone could be made whole from that, and none of these problems plagued the U .S. platform, SBF told Andrew Ross Sorkin in the New York Times headline -grabbing first interview with the Feld CEO. Despite SBF's insistence, U .S. customers still haven't gotten their money back. Look out for prosecutors to explain why this argument is the source of at least one ongoing procedural dispute between the defense and DOJ. Part of his identity has always hinged on the idea of amassing great wealth in order to give it all away. SBF's effective altruism was a philosophical tilt and also an ad tagline for crypto's white knight. Was it real? A Vox interviewer asked SBF over Twitter DMs if the ethics stuff was mostly a front. Yeah, I mean, that's not all of it, but it's a lot, he said. Later on in the screenshotted conversation SBF said, I feel bad for those who don't say the right things and therefore lose this dumb game we woke Westerners play where we say all the right shibboleths and so everyone likes us. SBF's apology tour was set to culminate with him providing congressional testimony in mid -December, an unheard of gamble for a Feld financial executive dogged by scandal. His plan derailed when Bahamian authorities took him into custody on December 13, 2022, but a leaked notepad of what appears to be his roadmap for remarks includes a strange characterization of FTX's internal controls. According to SBF, he and others inside the FTX empire lost track of Alameda's massive loans because of a historical accounting quirk that mucked up all important dashboards and that this massive oversight led the whole ballooning much bigger than he realized. Historical accounting quirk is a hell of a way to describe the hard -coded $65 billion ceiling that Alameda could borrow from FTX. In filings, prosecutors have alleged the hedge fund had access to an infinite money glitch bigger even than FTX's total deposits. And we'll hear more about this soon because Sam Bankman -Friede's trial begins today. He faces two counts of wire fraud and five counts of conspiracy to commit wire, securities and commodities fraud. Watch coindesk .com for updates as they happen and stay tuned for this newsletter to catch up in a single pocket.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1419: Bitcoin ETF Will Push BTC Price to $400,000 - Scaramucci
"Say goodbye to your credit card rewards. Big -box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets. Senate Bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it. If you love your credit card rewards, visit HandsOffMyRewards .com and tell them to oppose credit card routing legislation paid for by the Electronic Payments Coalition. And here's your prescription. I know just the pharmacy to get this filled. Who are you? A pharmacy benefit manager. A middleman your insurer uses to decide which medicines you can get, what you pay, and sometimes even which pharmacy you should go to. Why can't I go to a pharmacy in my neighborhood? Because I make more money when you go to a pharmacy I own. No one should stand between you and your medicine. Visit PHRMA .org slash middleman to learn more. Paid for by pharma. Welcome everyone to the number one daily Bitcoin pod. Let's get it. In today's show we'll be breaking down the latest technical analysis as Bitcoin recaptures $28 ,000. In this just in, Japanese 10 -year bond yields are surging, hitting the highest levels not seen in a decade. Max Kaiser's response, the yen -carry trade borrowing yen at virtually zero and investing in higher yielding currencies is broken. This has been the mother of all Ponzi schemes funding global financialization for 30 years and now it's moving in reverse. He also says the Bitcoin is a state of heaven that exists entirely beyond anyone's reach except the owner preach. Also in today's show VanEck, Ethereum strategy ETF set for the CBOE listing. We'll also be discussing FTX founder Sam Bankman -Fried. Mold giving Donald Trump five billion dollars to not run for president. That's right. We'll also be discussing Grayscale submits and SEC filing to convert the Ethereum trust to a spot ETF. I'm also going to be sharing with you a Bitcoin price prediction model which suggests $170 ,000 per BTC in 2025 as well as skybridge capital's Anthony Scaramucci says Bitcoin ETF can push the Bitcoin price much higher in early 2024. In fact they'll be sharing with you Scaramucci's $400 ,000 Bitcoin price prediction alongside 1 billion Bitcoin users. We'll 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 youtube channel at Cryptonewsalerts .net. Again that's Cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1419. I'm your host JV. Today is October 2023 2nd as the October pump continues. Let's freaking go. Shout out to everyone today in the live chat. Make sure to let me know where you're tuning in from. Of course at the end of the show I'll be reading everyone's comments out loud as this is a live and interactive show. Seven days a week and the after party FYI will be on rumble. So let's get it. Let's kick off today's show with our market watch as we do each and every day shall we. As you can see here on coin 360 we got Bitcoin up roughly 3 % for the day trading at roughly that 28 ,000 mark just under it. We have Ether consolidating trading under $1 ,700 while BNB, Cardano and Solana are all in the green and checking out coinmarketcap .com. We're finally climbing again at a market cap of 1 .09 trillion. We've been stuck around this 1 trillion level for quite some time. We got roughly 46 billion in volume in the past 24 hours meaning volume is up roughly 60 % and Bitcoin dominance is massively on the climb. I think the bull market is in full gear 49 .6 % for BTC with the ETH dominance at 18 .3 % and checking out the top 100 crypto gainers in the past 24 hours Satoshi vision leading the pack up 23 % trading at $39 .37 followed by e cash up roughly 9 % followed by Bitcoin cash. Now it's interesting that the Bitcoin forks are the top gainers for the day. I think anything associated with the name Bitcoin is pumping. It is what it is and checking out the top 100 crypto gainers of the past week Satoshi vision lead in the pack here up 23 and a half percent alongside our LB up roughly 12 % and XCC up roughly 9 % and checking out the crypto greed and fear index we're dead in the middle 50 which is neutral yesterday was a 48 last week a 47 and last month a 39 in fear. So there you have it fam how many of you are currently bullish on the king crypto now that we in October let me know and make some noise and put God candle and maybe the Satoshi and God's watching above will send it let's freaking go and with that being shared fam now let's dive into today's Bitcoin technical analysis and check out some of the charts and what's popping with the king crypto where Bitcoin is likely to go next Bitcoin aim for 25 at the October 2nd Wall Street open at a bullish start as the month continued which you can see here in the Bitcoin one -day candle chart data from Cointelegraph and trading view showed Bitcoin price action staying strong into October's first US trading session Bitcoin made swift gains into the weekly close following a contrastingly cool monthly candle completion that saw Bitcoin finish at 26 ,000 970 now popular analyst right capital says this monthly close despite now being more than 5 % below the spot price called for caution quoting him here Bitcoin performed a September monthly candle close below twenty seven thousand one hundred and he also said technically that black line was solidified as resistance for September so he acknowledged the October breakout but said this would invalidate the bearish predicament should it endure now he also says because the Bitcoin monthly closed below the black line there's always going to be a chance that this price action could end up as an upside wick as he shares here alongside this chart Bitcoin offered upside wicks of up to 8 % long before but right now Bitcoin is up four and a half percent this month so technically anything up to twenty nine thousand four hundred could theoretically end as an upside wick so there you have it let me know if you agree disagree with the analysts say goodbye to your credit card rewards big box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets Senate bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it if you love your credit card rewards visit handsoffmyrewards .com and tell them to oppose credit card routing legislation paid for by the electronic payments coalition now closer to home market observers noted the ongoing encouraging signals on the exchange order books quoting jelly here spot bid continues while funding is negative this reeks of disbelief and as he shared here Bitcoin still spot -driven perhaps haven't done much yet to be honest yeah so Bitcoin shrugs off fresh US dollar surge just as eager to hit new local highs in the day was the US dollar after Congress avoided a government shutdown the US dollar stays the sharp rebound from losses seen late last week and at this time the DXY circled 106 .7 barely point two points off its recent 2023 highs and for crypto analyst Nebraskan Gooner a breakout from here would put 108 in play mark in new 11 -month highs as outlined right here now it's interesting the Bitcoin is pumping alongside with the dollar is usually it's inversely correlated maybe it's a sign of the times now together with the hype on yields and the oil prices economist Mohammed el -irian described the DXY strength as neither the US economy nor the markets enjoy Bitcoin nonetheless remain unfazed let's freaking go and as Kaiser points out here well he responded to this news the Japanese 10 -year bond yields are surging hitting the highest levels not seen in over a decade max responded the yen carry trade borrowing and at virtually zero and investing in higher yield currencies is broken this has been the mother of all the Ponzi schemes funding the global financial ization for 30 years and now it's moving in reverse and quitting max again Bitcoin is a state of heaven that exists entirely beyond anyone's reach except the owner preach that's why everyone needs to be stacking them sass and with that being shared fam now let's break down our next breaking story of the day a theorem ETF futures launch today October 2nd that's right check it out investment management firm Vanek is set to launch as a theorem strategy ETF today October 2nd with the product now listed on the website under the ticker EF UT and set for trading on the CBOE the Vanek a theorem strategy ETF will look to accrue capital by investing into a theorem futures contracts and has no direct exposure to eat the fund will expose cash settled eat futures contracts on CFTC regulated commodity exchanges Vanek also touts the benefits of the product being a C Corp structure which includes tax benefits the long investors compared with registered investment company structures here's the announcement here on X from Vanek when you are ready enter the ether how many of you have seen this commercial let me know in fact they launched two of them they're quite fascinating the investment manner has been advertising the launch of the East spot ETF on its social media accounts over the past few days with to enter the ETH themed TV commercials promising the upcoming launch now Vanek also announced that intends to donate 10 % of all their profits from its upcoming ether futures ETF to a theorem core developers over the next decade and as reported 15 different ether futures ETFs from nine issuers are currently awaiting approval from the US SEC and I guess they have until the end of September of 2023 analysts cited sources with the SEC of saying the regulator wanted to approve either future ETFs before potential US government shutdown but meanwhile bitwise asset management confirmed that trading for its to ether if futures ETFs would commence October 2nd as well with investors getting access to eat futures trading on the CB OE so there you have it we all know that futures are not in investors best interest in fact investors are most likely going to get wrecked we want the real deal baby which is the spot ETF and a little later in the show we're gonna be discussing grayscale converting their product to not only a Bitcoin spot ETF but also a spot a theorem ETF here in just a little bit but first we have some breaking news coming in surrounding FTX founder Sam Bankman freed I mean you can't make this stuff up he allegedly was trying to bribe Donald Trump with five billion dollars to not run for president good freaking Lord check this out how many of you seen this story let me know former FTX CEO SPF once looked into paying Donald Trump not to run for president of the United States according to Michael Lewis the author of the new book documented the rise and fall of SPF Michael Lewis author of going infinite the rise and the fall of a new tycoon spoke about the former crypto billionaire and the FTX founder in a 60 minutes interview yesterday October 1st one of the revelations in the book is that SPF looked into paying Donald Trump to not run for president that only shocks you if you don't know Sam as Lewis added the following Sam's thinking that we could pay Donald Trump not to run for president like how much would it take the number that he was kicking around was five billion dollars and he added before saying that SPF was unsure if that number came directly from Donald Trump and here's your prescription I know just the pharmacy to get this filled who are you a pharmacy benefit manager a middleman your insurer uses to decide which medicines you can get what you pay and sometimes even which pharmacy you should go to why can't I go to a pharmacy in my neighborhood because I make more money when you go to a pharmacy I own no one should stand between you and your medicine visit ph RMA org slash middlemen to learn more paid for by pharma SPF was also looking into the legality of it according to Lewis who added that they were still having these conversations when FTX blew up it just didn't happen because SPF didn't have the five billion any longer very interesting if you haven't watched the video check the show notes below the video in the description and after the show you can catch it out this clip taken from 60 minutes now according to Lewis SPF saw Trump as trying to undermine the democracy of the United States thinking he belongs on a list of existential risk crazy Lewis spent more than 70 days in the Bahamas on a dozen different trips to visit SPF in 2022 and the pair became close I would say in spare bedrooms I had codes to every room including the penthouse he told the Wall Street Journal and speaking on the fallout between the collapse of FTX in November he shared it was like the aftermath of Pompeii clothes and belongings left behind frozen in time many headed to the airport leaving company cars with the keys inside at the curb now Cointelegraph contacted legal representatives for SPF and Trump mark botnik who handles communications for SPF case said there was no comment from his legal team and according to the trial schedule calendar released last week the high -profile SPF trial begins October 3rd which is tomorrow less than 24 hours out with their jury selection the trial then begins on October 4th so it's going to be an interesting week the trial will involve seven fraud cases against SPF two substantive charges where the prosecution most convinced the jury that Bankman freed committed the crime and five other conspiracy charges so there you have it I wouldn't put it past Bankman freed whatsoever he was supporting the Democratic Party making mass donations to the Dems in support of Biden and heavily against Trump so I mean good lord could you say fraud I mean I could see Trump saying hey give me you want to give me five billion and not run for president sure let's make it happen but fortunately enough Sam Bankman freed didn't get away with that particular crime that we are aware of as he lost the company and the company went kaboom thanks to CZ calling him out firsthand on his FTT scam tokens but anyways fam let me know if that's surprising or shocking to you or you're not surprised at all now let's discuss the etherium spot ETF which is way more significant than any futures ETFs will ever be let's break this one down following the approval of the first ether futures exchange traded fund grayscale investments is looking to convert its grayscale aetherium trust to a spot aetherium ETF kudos to them because they're doing the same thing with their Bitcoin product as well they want to spot Bitcoin ETF the new New York Stock Exchange arca filed the conversion with the United States SEC October 2nd today grayscale's existing trust invested in ether futures contracts as an indirect means of exposure to aetherium but a spot ETF will invest in the underlying asset itself that's what makes it that much greater it's not derivatives or paper it's the real deal they have to hold the underlying asset as Michael Sun and shine shared here grayscale has filed to convert their grayscale aetherium trust to a spot ETF thank you for your continued support we can't wait to get started yeah so he also says as we file to convert the ethe to an ETF the natural next step in the products evolution we recognize this as an important moment to bring aetherium even further into the u .s.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Ether ETFs, Validator Growth, and Uptober's Strong Start
"It's Monday, October 2nd, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Atchison, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about Ether ETFs, Ethereum staking, macro moves, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. And just a reminder, CoinDesk is a news source and does not provide investment advice. October, as this month is known in some circles, is off to a strong start in crypto markets. After a few days of gently drifting upwards, prices for Bitcoin and Ether jumped sharply yesterday afternoon, with Bitcoin moving up almost 3 % within just a few minutes. There doesn't seem to be a clear catalyst for yesterday's sharp jump, which suggests that it could have been triggered by a short squeeze. The crypto market has often seen these before. They are usually unwound relatively swiftly, however. This one, not yet anyway. Since yesterday's jump, the Bitcoin price has continued to climb, and at 10 a .m. Eastern time this morning, it was trading at $28 ,500, according to CoinDesk indices, up 4 .8 % over the past 24 hours. Ether was 2 .3 % higher, trading at $1 ,725. October is typically a strong month for Bitcoin, with an average performance going back to 2011 of 25%. Bitcoin has delivered a positive performance in October in each of the last four years. Yes, including 2022. But patterns can be broken. We saw this last month, as Bitcoin rose almost 4%, breaking a six -year trend of negative September returns. Other tokens are also rallying. Earlier today, the tokens of Solana, Arbitrum, Optimism, Cosmos and others were up between 3 and 4 % over the past 24 hours. As I mentioned earlier, there doesn't seem to be a clear catalyst here. In part, it could be October psychology. There could also be some excitement around the first Ether futures ETS starting to trade today. And there is probably also some momentum chasing involved. Bitcoin has broken above the 50, 100 and 200 daily moving averages, which is a big deal for chart watchers. Whatever the reason, the uptick in interest could be enough to perhaps entice some liquidity providers back into the market. If liquidity improves along with the Bitcoin price, then we are likely to see a further pickup in new investor interest. I'll be keeping an eye on volumes and other liquidity metrics. Over in macro, the headwinds are still there, which could keep any crypto rally muted for now. There was some good news on Saturday, though. After a day of hectic negotiations and a barrage of breakthroughs, a US government shutdown was avoided. Both chambers passed a stop -the -gap spending bill that President Biden signed with less than an hour to spare. This means that government employees and all of the related businesses that serve as government departments can keep on working. This is very good. It's a temporary measure, however, and we could be going through the same type of tension in mid -November. Earlier today, the ISM Manufacturing Index came in better than expected. This data point is based on a survey of purchasing managers at 300 manufacturing businesses and gives some insight into the general direction of manufacturing activity in the US. ISM stands for the Institute of Supply Management, the organization that conducts the survey. The main index for September still showed a contraction in activity, but the slowest contraction in 10 months. It's too soon to conclude that the contraction in US manufacturing is bottoming, however. Over in stocks, the strong manufacturing data and the avoidance of the shutdown has failed to boost the mood of the US market. This comes after a fairly grim end to September. On Friday, the S &P 500 closed down 0 .03%, and over September, the index lost almost 5%. Its second monthly decline in a row. The index is down 3 .7 % on the quarter, its first negative quarter in 12 months. This is less than the Nasdaq's decline, which was 4 .1 % for the quarter, highlighting that the market is moving into risk -off territory. The Nasdaq is even more focused on tech stocks than the S &P 500, which tend to be more sensitive to increases in interest rates. In Europe, markets were feeling good on Friday, with both the German DAX and the Eurostock 600 rising by roughly 0 .5%. That was not enough to save the month, however. Over September, the DAX dropped 3 .5%, and the broader European index dropped by 1 .6%, the worst monthly performances for both in a year. So far today, weak market sentiment has returned, with all leading European indices down from Friday's close. The outlook for economic growth in Europe is flagging, with the German economy forecast to contract this year. In Asia, Japan's Nikkei index started the fourth quarter on a down note, closing just over three -tenths of a percent lower. So far, this seems like an extension of the negative performance seen last month. The index dropped almost 1 .5 % in September, losing more than 4 % in the quarter. This makes Q3 the first negative quarter for the index in a year. Chinese markets were closed on Friday for the mid -autumn festival and will be closed until next Monday as the country celebrates National Day. Chinese stocks had an ugly third quarter, with the Shanghai Composite registering an almost 3 % drop, its second quarterly decline in a row. Chatter is intensifying about more monetary and policy easing to support the market and the economy. This would be good news for Asian markets and for crypto markets since, despite recent bans, China is still a significant source of demand for crypto assets. Hong Kong's Hang Seng index was hit much harder, down almost 6 % for the quarter, as its market is more exposed to US interest rates and has also been hit by China's property sector woes. In commodities, the Brent crude benchmark was rising in early trading today after pulling back from the local high of over $96 reached late last week. Earlier today, Brent was trading at $93 .62 per barrel. Gold continues to weaken, trading at around $1 ,830 per ounce, down just over 0 .7 % from the market open. Investor appetite for the metal is being hit by the stronger US dollar. The DXY dollar index was climbing today, up 0 .4 % from Friday and up almost 3 % from a month ago.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Ether ETFs, Validator Growth, and Uptober's Strong Start
"It's Monday, October 2nd, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Atchison, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about Ether ETFs, Ethereum staking, macro moves, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. And just a reminder, CoinDesk is a news source and does not provide investment advice. October, as this month is known in some circles, is off to a strong start in crypto markets. After a few days of gently drifting upwards, prices for Bitcoin and Ether jumped sharply yesterday afternoon, with Bitcoin moving up almost 3 % within just a few minutes. There doesn't seem to be a clear catalyst for yesterday's sharp jump, which suggests that it could have been triggered by a short squeeze. The crypto market has often seen these before. They are usually unwound relatively swiftly, however. This one, not yet anyway. Since yesterday's jump, the Bitcoin price has continued to climb, and at 10 a .m. Eastern time this morning, it was trading at $28 ,500, according to CoinDesk indices, up 4 .8 % over the past 24 hours. Ether was 2 .3 % higher, trading at $1 ,725. October is typically a strong month for Bitcoin, with an average performance going back to 2011 of 25%. Bitcoin has delivered a positive performance in October in each of the last four years. Yes, including 2022. But patterns can be broken. We saw this last month, as Bitcoin rose almost 4%, breaking a six -year trend of negative September returns. Other tokens are also rallying. Earlier today, the tokens of Solana, Arbitrum, Optimism, Cosmos and others were up between 3 and 4 % over the past 24 hours. As I mentioned earlier, there doesn't seem to be a clear catalyst here. In part, it could be October psychology. There could also be some excitement around the first Ether futures ETS starting to trade today. And there is probably also some momentum chasing involved. Bitcoin has broken above the 50, 100 and 200 daily moving averages, which is a big deal for chart watchers. Whatever the reason, the uptick in interest could be enough to perhaps entice some liquidity providers back into the market. If liquidity improves along with the Bitcoin price, then we are likely to see a further pickup in new investor interest. I'll be keeping an eye on volumes and other liquidity metrics. Over in macro, the headwinds are still there, which could keep any crypto rally muted for now. There was some good news on Saturday, though. After a day of hectic negotiations and a barrage of breakthroughs, a US government shutdown was avoided. Both chambers passed a stop -the -gap spending bill that President Biden signed with less than an hour to spare. This means that government employees and all of the related businesses that serve as government departments can keep on working. This is very good. It's a temporary measure, however, and we could be going through the same type of tension in mid -November. Earlier today, the ISM Manufacturing Index came in better than expected. This data point is based on a survey of purchasing managers at 300 manufacturing businesses and gives some insight into the general direction of manufacturing activity in the US. ISM stands for the Institute of Supply Management, the organization that conducts the survey. The main index for September still showed a contraction in activity, but the slowest contraction in 10 months. It's too soon to conclude that the contraction in US manufacturing is bottoming, however. Over in stocks, the strong manufacturing data and the avoidance of the shutdown has failed to boost the mood of the US market. This comes after a fairly grim end to September. On Friday, the S &P 500 closed down 0 .03%, and over September, the index lost almost 5%. Its second monthly decline in a row. The index is down 3 .7 % on the quarter, its first negative quarter in 12 months. This is less than the Nasdaq's decline, which was 4 .1 % for the quarter, highlighting that the market is moving into risk -off territory. The Nasdaq is even more focused on tech stocks than the S &P 500, which tend to be more sensitive to increases in interest rates. In Europe, markets were feeling good on Friday, with both the German DAX and the Eurostock 600 rising by roughly 0 .5%. That was not enough to save the month, however. Over September, the DAX dropped 3 .5%, and the broader European index dropped by 1 .6%, the worst monthly performances for both in a year. So far today, weak market sentiment has returned, with all leading European indices down from Friday's close. The outlook for economic growth in Europe is flagging, with the German economy forecast to contract this year. In Asia, Japan's Nikkei index started the fourth quarter on a down note, closing just over three -tenths of a percent lower. So far, this seems like an extension of the negative performance seen last month. The index dropped almost 1 .5 % in September, losing more than 4 % in the quarter. This makes Q3 the first negative quarter for the index in a year. Chinese markets were closed on Friday for the mid -autumn festival and will be closed until next Monday as the country celebrates National Day. Chinese stocks had an ugly third quarter, with the Shanghai Composite registering an almost 3 % drop, its second quarterly decline in a row. Chatter is intensifying about more monetary and policy easing to support the market and the economy. This would be good news for Asian markets and for crypto markets since, despite recent bans, China is still a significant source of demand for crypto assets. Hong Kong's Hang Seng index was hit much harder, down almost 6 % for the quarter, as its market is more exposed to US interest rates and has also been hit by China's property sector woes. In commodities, the Brent crude benchmark was rising in early trading today after pulling back from the local high of over $96 reached late last week. Earlier today, Brent was trading at $93 .62 per barrel. Gold continues to weaken, trading at around $1 ,830 per ounce, down just over 0 .7 % from the market open. Investor appetite for the metal is being hit by the stronger US dollar. The DXY dollar index was climbing today, up 0 .4 % from Friday and up almost 3 % from a month ago.
CoinDesk Podcast Network
SBF TRIAL: 10/02 Update
"Welcome to the SBF trial, a Coindesk podcast network newsletter bringing you daily insights from inside the courtroom where Sam Bankman -Fried will try to stay out of prison. Follow the Coindesk podcast network to get the audio each morning with content from the Coindesk regulation team and voiced by Wondercraft AI. It is officially trial week and as Bloomberg's Joe Wiesenthal would likely put it, this is why we get up in the morning. It's been exactly nine months and 20 days since Sam Bankman -Fried got arrested at his then home in the Bahamas. Today marks the last day before he is set to start the trial in which he will win back his freedom or be locked up for what a federal judge says could be a very long time. Thousands of pages of evidence ranging from internal documents to audio recordings will be presented and fought over in the next six weeks as US prosecutors try to prove that the former FTX founder knowingly defrauded customers and business partners. Arguably the most damning evidence or lack thereof could come from the recollections and personal opinions of Bankman -Fried's former colleagues, friends and housemates. Caroline Ellison, Nishad Singh and Gary Wang were close friends and roommates of Bankman -Fried as much as they were colleagues. Ellison was emotionally invested with the FTX founder and troubled by the former couple's on and off relationship which according to a diary entry from her slowly fizzled out in February 2022. Prosecutors also say they intend to call up FTX customers and investors including non -US customers over the course of the trial. On another note, do you remember when FTX suddenly announced it was hacked and lost some $600 million worth of crypto? This was the same day it filed for bankruptcy last November. A decent portion of those funds sat in a wallet for a few months and then started moving this weekend. Around 15 ,000 Ether worth around $26 million at Sunday night's prices moved out of a wallet through various routers and privacy tools between Friday night and Sunday morning. We never got an explanation for what exactly happened and how the exploit was carried out. I imagine federal investigators are probably closely tracking this episode. On a logistics note, Judge Lewis Kaplan ruled in favor of the DOJ's motion to prevent Bankman -Fried from getting into the weeds on what his lawyers may or may not have said about FTX's operations in his opening statement. However, Bankman -Fried's defense team can still raise the advice of counsel defense later on with notice to the court and DOJ. In court filings, the defense said the argument would be that FTX's in -house and external lawyers were part of decisions to use auto -deleting messaging platforms, set up legal entities in the US, loan funds to FTX and Alameda executives, and other aspects of the FTX -Alameda relationship. Want to follow along? Sign up for CoinDesk's new daily newsletter, The SBF Trial, bringing you insights from the courthouse and around the case. You can get the podcast each day right here by following the CoinDesk Podcast Network. Thanks for listening.
The Crypto Overnighter
A highlight from 686:Do Kwons SEC Charges and FTXs Shifting Assets
"Good evening, and welcome to The Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific Sunday, October 1st, 2023. Welcome back to The Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight, we're diving deep into the murky waters of deception, legal turmoil, and the ongoing struggle for financial freedom. DoKwan's courtroom dramas, FTX's questionable asset movements, and the European Central Bank's stance on the digital euro are all on the table. Trust is at a premium, and it's becoming increasingly clear that centralized entities are on shaky ground. Let's get to it. DoKwan, the founder of Terra, a once massive crypto ecosystem, is in hot water. Court documents from the U .S. Securities Exchange Commission reveal that Kwan admitted to faking trading volume. The SEC filing shows a text exchange between DoKwan and Daniel Shin, founder of the payments app Chai. Kwan tells Shin, quote, I can just create fake transactions that look real, which will generate fees. When Shin questions the ethics, Kwan assures him, I won't tell if you won't. Chai partnered with Terra to speed up payments. But the SEC alleges that this partnership was a sham. Terra never replaced Chai's payment systems. Instead, they replicated Chai payments onto the Terraform blockchain to deceive investors. In 2019, Terra announced its partnership with Chai, promising to process millions, if not billions in transaction volume. But the SEC claims that Chai payments did not use the Terraform blockchain. They were made through traditional means. This is a betrayal of trust, a slap in the face to every investor who bought into the Terra ecosystem. And it gets worse. DoKwan's Terra was focused on algorithmic stablecoins and was the second biggest DeFi blockchain after Ethereum. Its native cryptocurrency, Luna, was a top digital asset. But in May 2022, Terra collapsed. This led to a brutal bear market and bankrupted many crypto projects linked to Terra. DoKwan now faces a litany of charges. He was arrested in Montenegro on charges of document forgery. He's been detained indefinitely and is fighting extradition to the US. The SEC has requested his extradition, but his attorneys are pushing back, claiming it would prevent Terraform Labs from presenting a statement during the summary judgment process. Now before we move on, if you're enjoying tonight's deep dives, do me a favor. Hit that like button and turn on notifications. Trust is the currency of our times, and DoKwan's saga reminds us to be cautious. Speaking of caution, let's delve into a recent move that's causing waves. Remember the FTX exploit from last year? Well, the Ether tied to that exploit is on the move again. Let's set the stage. Around 2 ,500 Ether, worth just over $4 million, started moving early Saturday morning. These funds were divided via multiple transactions. A chunk of 700 Ether was transferred using ThorChain router, a cross -chain bridge with a focus on privacy. Another 1 ,200 Ether moved through Railgun, a privacy -focused DeFi wallet. The Ether, worth around $21 million, sitting in the original wallet. The timing on this is interesting. This movement comes just days after FTX founder Sam Beckman -Fried is set to go on trial in the US over fraud and conspiracy charges. Beckman -Fried has pled not guilty, but some former FTX and Alameda Research executives have pled guilty and are expected to testify against him. More on that trial in a bit. So who's behind this? The identity of the exploiter remains a mystery. Last year, accounts tied to FTX and its US affiliate were drained almost immediately after the company filed for bankruptcy and Beckman -Fried stepped down. Shortly after the exploit, 21 ,500 Ether was converted into the stablecoin die. Now let's not forget the broader implications. The market is anticipating the launch of Ethereum futures ETFs. And here we have a significant movement of Ether tied to a high -profile exploit. Interesting timing for the Ether to be on the move, especially with the possibility of those Ether ETFs coming out soon. It's like a pot about ready to boil over. But the heat doesn't stop there. The US government is digging into FTX's asset handling.
Veteran on the Move
A highlight from MilitaryFares.com with Scott Lara
"Scott Lehrer president of military affairs comm is a US Navy veteran taking his passion of traveling and serving fellow veterans He was recently appointed president of military affairs comm an online travel website giving deep discounts to veterans coming up next on veteran on the move Welcome to veteran on the move if you're a veteran in transition an entrepreneur wannabe or someone still stuck in that Trying to escape this podcast is dedicated to your success and now your host Joe Crane As a member of not -for -profit Navy Federal puts members at the heart of every single thing they do Find out more at Navy federal org Alright today we're talking with Navy veteran Scott Laura who is a president of military affairs comm Scott You and I've been in you know in loose touch for several years now You've been following the podcast like almost way back since the beginning if I remember correct Absolutely, just a huge fan of the podcast and appreciate everything you do Joe for our veterans and family members of veterans Yeah, so let's start off like we usually do take us back and tell us what you did the Navy Oh my gosh back in 1979 I was working at the Kmart camera department in Aurora, Illinois Just outside of Chicago and I was about to graduate from high school and my assistant manager there said Scott What do you want to do after high school? I said I have no clue, but I don't want to go to school You know don't want to go to college and he goes well join the Navy see the world Well, the problem is he didn't tell me that the world was 75 % water. So I joined the Navy When I went into Chicago to get all registered They said, you know, what do you want to be? I said, I really don't know and they said well What about a fire controlman? I said, well, I don't want to fight fires and the guy laughed He goes well about like being a radarman and it's like that sounds cool and they said, okay Well, you'll go to boot camp here in Chicago in a couple weeks. I said I'm going to San Diego They said you're going to San Diego cuz I mean I joined in set in September and it was starting to get cold So I went to yeah, I went to boot camp in San Diego at 79 then I went to a school at Damnet, Virginia Went up to Maine to get my ship the Morrison FFG 13. It was in three pieces in Bath, Maine They put it together. We sailed down to Boston and Was commissioned there went to Mayport Went to church there in Jackson, but here in Jacksonville met my wife I'm married 39 years to grown kids and two grandkids And so I love the Navy and all over the world Italy Spain France Panama Canal off the coast of Iran and Iraq and I love the Navy but I stayed in nine years It was just really hard on my wife with two small children So I got out and then I went on my entrepreneurial journey. We'll talk a little bit about that What was your transition like when you got out of the Navy you get a job right away? Was the entrepreneurship thing already there? Well, fortunately and the one thing I want to share with the audience. It's who you know, and You've got to be out there you and it's not even the internet It's just like who do you know? Because I knew some people and I was able to get a job with a division of driver's license in, Florida So I got out I immediately had a job I wasn't making a ton of money but I was an employee and I worked there and then I of course I got a couple other jobs to as Other things opened up. But yeah again for those folks that are listening to the podcast you got to get out there There's no one who's gonna promote you but you and you got to be professional. You got to look good You got to speak good and it's who you know, and I will just say for anybody listening reach out to Joe or myself We would both love to help anybody to to move into that transition the only thing I would caution you about is that a lot of people will try to come after veterans and say hey Join this franchise and you know 50 $100 ,000 and a lot of us don't have that kind of money A lot of us don't have time to go back to school Now a lot of guys do have the GI Bill or other Opportunities like that, but I always love helping fellow veterans get on the path to a good job and success Yeah, it's so true it's who you know and unfortunately if you've been in the military like you were for nine years You may not have a big civilian network But you might have a network of veterans that got out before you and keep in touch with them but I hear I've heard stories were like I applied for a thousand jobs and didn't get one response from anybody and it's like Well, that's pretty typical these online job boards most of the time you don't get hired from them unless you know somebody on the inside and Then you still got to apply through the job board and then because you know somebody your Application gets pulled and then you find your way in it's it's it's all about who you know Definitely one super secret tip. I'll share Joe is that veterans get one free year of LinkedIn premium so just go on LinkedIn you know let them know you're a veteran and There's lots of free courses on LinkedIn and that that's my secret. I mean, that's how I know people Being in the travel industry getting to know the CEOs of these travel of these cruise lines And once you're on LinkedIn and you reach out to them and be humble be nice. I am so -and -so and But again, the problem with the military is they really don't prepare us for civilian work We veterans think well just because we're a veteran or we work hard and we're dedicated. We should automatically get the job Well, the job market is so tight now that they're being very selective on who they hire Yeah, they want they want somebody to have all the qualifications that they already need They don't want to train somebody like the military always does train people from scratch In the civilian sector, they don't they don't have time to train you They they need you making them money from day one And but there are there are some good skills military guys have as far as you know The soft skills the leadership the motivation You know, they show up to work on time They're not late, you know, those kind of things can be huge Some some people like to view those things as maybe the givens of a typical good employee But if you don't have some of those basic skills that the job requires, it's it's really tough for civilian companies You know to hire you and bring you in because they can't afford To train people for months or years on end like the military does well Joe You make a very good point in addition to that guys. You can't go in. I want 80. I want 90 I want a hundred you may need to go in for 25 or 30 thousand get your fee You know be trainable be open listen learn and once they see that then you can go up But I think so many people Joe think, you know I deserve 70 80 90 100 and maybe your wife or your spouse wants you to make that money To bring it in but you got to be realistic absolutely As a member owned not -for -profit Navy Federal puts members at the heart of every single thing that they do Low fees and great rates resources to help you crush your financial goals 24 -7 access to stateside member service representatives with award -winning customer service earnings and savings of four hundred seventy three dollars per year by banking with us an average credit card APR that's six percent lower than the industry average a Market leading regular savings rate nearly two times the industry average I'm still with Navy Federal after 33 years and not going anywhere Navy Federal is insured by NCUA NFC you reserves the right to change or just continue promotions and rates at any time without notice Dollar value shown represents the results of the 2022 Navy Federal member give back study credit card value claim based on 2022 internal average APR assigned to members Compared to the advertising industry APA average published on credit cards comm value claim based on 2022 internal regular savings rate average compared to 2022 industry regular service average rate published by FDIC gov learn more at Navy federal org In a startling description the UN food chief warned the world with words knocking on famines door He called what we're facing a perfect storm of a perfect storm He's not alone parents published that a food shortage could be coming even in the u .s.
Latina to Latina
A highlight from How Rebecca Alvarez Story Built a Sexual Wellness Brand
"Ladies, gentlemen, welcome to the colorful world of Skittles. Skittles brings you a jolt of five fruity flavors in every bite, giving you the chance to taste the rainbow like never before. Break free from the ordinary day -to -day with the help of Skittles chewy candy. Skittles is a must in my candy jar, movie snack, even my secret to an afternoon pick -me -up. And I don't even care who knows it. Add a splash of joy to your day with Skittles. There's nothing better than fruity fun that tickles your taste buds. Taste the rainbow. I've been wanting to talk with Rebecca Albera's story for a while. She is an award -winning entrepreneur, sexologist, and intimate product developer. Three titles that do not often go together. But I'm glad we waited for this moment when, like many of my very favorite conversations, we find Rebecca and her company Bloomy, a wellness brand focused on clean, intimate care essentials, at an inflection point, asking the very familiar question, will what got us here get us to where we want to go next? Rebecca, finally, thank you so much for being here. Thank you so much for having me. I'm glad it worked. I'm so happy to have this conversation. Rebecca, among the things you say about intimacy is that so much of the root of intimacy is unlearning bad sex ed. What was the bad sex ed that you grew up with? My bad sex ed was actually no sex ed to start with. I definitely saw love, and my parents modeled that so well. But in terms of, like, in my community, in my school, did we have sex education? Not really, because it was abstinence -only education in high school. It's wild that someone goes from growing up in an environment that is abstinence -only to, I mean, by the time you are in college, you're very clear that you want to study sex and sexuality. I sit at the intersection of so many things, being Latina, a woman. I was a single mom at that time. I just felt like I could relate to so many people's intimacy journeys. And I wanted to create the spaces where we could talk about it. I didn't know exactly what it was going to look like. But yes, in college, I tell this story, you know, I was apprehensive about sexuality because my first year in college, I was actually assaulted. And I ended up transferring home. I ended up at Cal, a very liberal, very progressive school where I could take so many wonderful classes that were holistic, and I shared with people that it was very healing for me. I had great therapy. I had great all of that. But the education, it just transformed my life. When did it become clear to you that you are an entrepreneur? To be honest, I feel like I've always known this since I was little. I had that spirit of, oh, that should be a business. And why don't we have a solution? I would just see things differently than like the cousins I grew up with, I think. They would joke and say, why do you always have so many ideas? Why are you always so bossy? But it was just little. I was little and I was like taking initiative to create things. Talk me through the evolution of Blumey, because as I understand it, the original idea was a multi -brand marketplace. How did it morph from that concept to a place for education, advice on intimacy with a line of sexual wellness products? I had been in the industry for 10 years. I was working as a consultant for startups, helping them with their product development. And I was coaching both singles and couples, learning so much about intimacy challenges, intimacy goals, and really helping people in a lot of different ways, where at the end of so many of my sessions, my clients wanted solutions. They wanted the book, the product, the toy, the whatever it was. And so I would manually send this to them. I started creating a list, but it was a little bit like it was a lot of work on my end to always curate. And so what I did is I said, I'm just going to put these products that I recommend that are clean, because it's very important that these products be healthy, especially for these areas of the body, put them all on a page. And that was the beginning of Bloomie, where I had multiple brands. They were my favorite clean brands that I would recommend in the category. And then when I developed our first product with our team, it was called Bloomie Arousal Oil. We still sell it. It's a bestseller. That was just the beginning of a pivot for us. And that's why we fundraised and why we ended up really focusing on Bloomie's products, making solutions for products that I wish I had 10 years ago. The question I'm about to ask you seems particularly relevant given the timing of your and my conversation, but I want to take us back to April 2022. Your line is set to debut at Target and your funding falls short. How does that happen? Funding for women of color entrepreneurs is severely lower than what it should be. There is less than one percent of funding that is going to entrepreneurs of color and Latina founders. So I never use that as an excuse. But when I went out and I fundraised, I did everything by the book. I trained, I did accelerators, I did boot camps. I had a cis white male co -founder. I had everything you're supposed to, and I'm using quotes, to have. And we fell short. We wanted to raise two million. We raised one million. So what did I do? I ended up seeing that there is no standard for my industry. This is new. Intimacy companies were not being venture backed at that time. And I just realized I'm going to have to do things differently. So we crowd raised. We basically opened up part of our round to the community where they could invest one hundred or two hundred dollars minimum. We raised almost a million dollars that way, two different times. And then we also I took out personal loans. We had a few angels give us personal loans. I took out a line of credit. Like I did everything to make sure that we could have sufficient capital to meet the demands of going into retail. And even with that, I'll say when founders ask me, what does it take to go into retail? It's so big of a question. I want to sit down and go through things with people. But you have to estimate how much you're going to need to be on shelf, stay on shelf. That's even harder. Mark it and to not plan to be profitable right away.
![A highlight from Tim Burton - 'Wednesday' [LIVE]](https://storageaudiobursts.azureedge.net/site/images/stationIcons/22531.png)
Awards Chatter
A highlight from Tim Burton - 'Wednesday' [LIVE]
"Hi everyone and thank you for tuning in to the 507th episode of the Hollywood Reporters Awards Chatter Podcast. I'm the host Scott Feinberg and my guest today is a filmmaker unlike any other. With directing credits dating back some 40 years including 1985's Pee Wee's Big Adventure, 1988's Beetlejuice, 1989's Batman, 1990's Edward Scissorhands, 1994's Ed Wood, 2003's Big Fish, 2005's Corpse Bride, 2007's Sweeney Todd, 2012's Frankenweenie, 2014's Big Eyes, and most recently in 2022, half of the eight episodes that comprise the first season of Netflix's giant hit drama series, Wednesday, for which he is personally nominated for two Emmys, Best Directing for a Comedy Series, and as one of the show's executive producers, Best Comedy Series. The New York Times has called him a visionary artist, noting, quote, he has developed a singular if not easily pinned down sensibility. His style is strongly visual, darkly comic, and morbidly fixated, but it is rooted just as much in his affection for monsters and misfits, which in his movies often turn out to be the same thing. He all but invented the vocabulary of the modern superhero movie, brought new vitality to stop motion animation, and has come to be associated, for better or worse, with anything that is ghoulish or ghastly without being inaccessible. He may be the most widely embraced loner in contemporary cinema, close quote. His most frequent collaborator, Johnny Depp, who he has directed in 19 films, said that he is, quote, a filmmaker I admire, but he's much, much more than that. Without embarrassing him, he's a true artist, which is something I wasn't sure was possible in today's cinema. But he's the real thing. He's a visionary, an auteur, totally uncompromising, close quote. He's talking, of course, about Tim Burton. Over the course of a conversation in front of a large audience at the Burbank International Film Festival, including two of Burton's most celebrated and longtime collaborators, the composer Danny Elfman and the costume designer Colleen Atwood, the 65 -year -old and I discussed his complicated childhood and how it led him to pursue drawing and attracted him to characters regarded by others as freaks, how he wound up working at Disney Animation and then making his feature directorial debut with a live action film, the challenges of getting films made even with hits under his belt and what ultimately led him to TV for Wednesday, plus much more. And so, without further ado, let's go to that conversation. Hello, everyone, and Tim, thank you so much for doing this. Great to see you. I normally begin every episode of this podcast asking our guests where they were born and raised, which I think we have addressed, but I do want to get into it a little bit more because, you know, over the years, you have expressed that sort of what you just alluded to, that, you know, you were very shaped by Burbank. For better or worse, there were elements that were great, elements that were complicated. Can you talk about, but one thing that you've always said is that without Burbank and without those childhood experiences, the filmmaker we know today would not exist. So just break it down. Well, I mean, you know, I keep reading that I hate, you know, like the press has a way of sort of taking what you say and take out the nuance and subtlety and, you know, like go right to the core. But I think, you know, and when I said about whatever I said about Burbank, it had more to do with my own psychological state of mind than it did with the actual city of Burbank. You know what I mean? So and that's a bit too complicated and psychological to go into now, but in the sense that, you know, you grow up in feeling a certain way, Burbank helped shape me because, you know, there was like my first film school was the Cornell Theatre. There was this amazing theatre that was torn down, I think, in the late in the 80s. I don't know when it was, but, you know, they would for 50 cents, you could see a triple feature. Like, I saw one amazing, I saw War of the Gargantuas, Monster Zero and Destroy All Monsters in one go, you know, 50 cents. So that's where I learned my love of film and that really, so there was amazing places and it was incredible. There was like five movie theaters, Burbank at a certain time, and then they all got sort of taken away. But for me, that place, especially that theater was very, very special to me. And you've said that during your years in Burbank, which I think up until 12, you're living at, was it Evergreen Street? Is that where you were? Yeah, right down the street. Just down the street here. You can all walk over there after this. Yeah, we'll do a little. Check it out. Then you moved in with your grandmother also in Burbank, right? But as a bit of a loner, as a kid, you were kind of thinking about things, dreaming about things in everywhere from some of the cemeteries in town to... Yeah, the one right next door here, you know, I used to play around there, you know, that was, yeah. Yeah. You know, and I could look out my window, the thing that freaked me out, I looked out my window at Disney and this was like the weird, called the Bermuda Triangle of Burbank. Because I could see where I was born at St. Joseph's and then I could see the cemetery where everybody, all my family was buried. And I was, so it was like a weird Bermuda Triangle that I had to escape at a certain point because it was just too scary. Now, you've also said that as a kid, you were, you know, not only a bit of a loner, but sort of not particularly communicative, verbal with other people. You lived in your imagination, which manifested itself through drawing. Can we talk about how that entered the picture? And as was noted, I mean, to the extent that it was, you were talented enough that in Burbank, your work, anti -littering art was on the back of every garbage truck. I wanted $10, and at that time, that's probably like about a million now. Right, right, right. But drawing was an outlet for you. What kind of things were you drawing as a kid? Posters for trash trucks, I don't know, I mean, whatever. But also, I mean, the movies that you were drawn to, and I believe maybe therefore some of things the you were drawing were things that other people might find frightening or scary, but that you actually, in a way, related to, right? Like what are we talking about? Yeah, but I mean, like, you know, I didn't feel that different. It felt like, you know, I love famous monsters. I wait for that magazine to come out. I love monster movies. I live near a cemetery. You know, I mean, you use what you have, you know what I mean? Yeah, yeah, yeah. So it was good. Totally. And I think also, too, growing up in Southern California, where you don't really have seasons, I think that's why I kind of got into, you know, like things like Nightmare for Christmas or Halloween, just because it gave you a sense of occasion, a sense of season that you didn't get through the weather, you know, I mean, to experience, like holidays, you had to go like to the main, like, at Save On and look at the holiday displays to kind of experience.
Unchained
A highlight from Heres How Sam Bankman-Frieds High-Stakes Trial Could Play Out - Ep 549
"Even though each of these charges, if you look at the DOJ press release says, oh, it contains a maximum sentence of 20 years or five years, whatever, it's not going to be consecutive. It'll be concurrent. So the estimate I'm getting from various attorneys that I've spoken to over the past few weeks is it'll probably be somewhere in the, you know, 10 to 20 year range. 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 29th, 2023 episode of Unchained. Thinking of launching your own stable coin? Start with the open source stable coin studio toolkit on Hedera. Start your journey at Hedera .com slash Unchained. Shape tomorrow today. 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. Arbitrum's leading layer two 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. Today's guest is Nick Day, Coindesk's managing editor for global policy and regulation. Welcome, Nick. Thanks for having me. The trial for former FTX CEO Sam Bankman -Fried starts next Tuesday, October 3rd. There's been a lot happening pre -trial. For instance, Sam has requested release from jail multiple times and repeatedly been denied, including as recently as Thursday morning. My personal thought was that it seemed like all these requests that the defense was putting in at this critical juncture right before the trial was supposed to begin was maybe not the best use of their time, but that's just my personal opinion. I'm not a lawyer. Why do you think they made this such a point of focus in the last few days? Yeah, so I'm actually coming, you know, I was in the courthouse just a few hours ago where this very issue was brought up and the defense's arguments were, well, the first time we asked, it was for pre -trial release. You know, this was right after Bankman -Fried was remanded into custody in mid -August. The second time was, you know, they were asking the appeals court to overrule the judge's decision to remand him. And they lost that as well. In court today, the defense said, well, you know, now we want to ask for during trial, which is why we waited until this week to make that request. And they say that they want to, you know, the circumstances are different. They're not asking for Bankman -Fried to be released from jail in the weeks leading up to trial. Now they're saying, well, you know, during the trial, we're going to have to talk to him and check with him about defense witness testimony and cross -examination and things like that. So that's why we're making this request. And the judge didn't really find that compelling. And why do you think the judge has stuck to this position of keeping Bankman -Fried in jail? So in the judge's words, there's a couple of different reasons. One being that Bankman -Fried has had ample time to look at the defense materials. You know, one of the arguments was there are something like 1300 exhibits expected over the course of the trial. And the judge asked today, you know, were these all prepared and shared with you before, I think he said September 8th, so earlier this month. And the defense, they said, yes, we've seen all of this. We've had access to all of this. Bankman -Fried was out on bail for about seven and a half months. And so the judge's argument is, well, he's had time to look at this. You know, there's no surprises here. And he said that the defense has the chance to talk with Bankman -Fried in the Metropolitan Detention Center, where he's currently being housed weekends during days that there are no trials. So, you know, the trial is not every weekday. It's going to be most weekdays. And he said, you know, you have the time, you have the opportunity, you are able to talk to your client. You're not really losing a whole lot. But he added kind of a, you know, made this ruling where Bankman -Fried will even be presented to the courthouse early on trial days where there's certain witness testimony that has to be discussed and let the attorneys just talk to him before the trial begins on those days. So he's saying basically, you know, you have opportunities to talk to your client and I'm going to give you, you know, more time to do so, but I'm not going to let Bankman -Fried out of jail. So the main focus next week as the trial begins will be jury selection. Tell us what you think that process will be like. It definitely will be interesting. I think it's probably going to be very boring from just kind of an observer perspective because it's a long process and we're going to be just sitting there watching this judge ask each individual, you know, have you heard of FTX? Have you heard of Bankman -Fried? What do you think about cryptocurrencies? But it's going to be very interesting because this is the part where we're 12 or so people who are going to determine whether or not Bankman -Fried spends the next, you know, 10 to 20 years of his life behind bars. And so I'm expecting to see maybe as mixed selection. I think if you pluck a random group of New Yorkers off the streets, some of them may have heard of cryptocurrency, most of them probably will not have, and they're going to be tasked with deciding whether or not one of the biggest figures in crypto committed fraud on the way up and on the way down. Something that was interesting to me was the prosecution said that they expected jury selection to take the better part of a day. I've seen some legal opinions that it will take longer than that. What do you think could potentially happen there and why do you think some analysts are saying that it would take longer? Yeah, no, I've spoken to a number of lawyers as well ahead of the trial, you know, where at Coindes we're trying to do a lot of kind of preview coverage, basically saying here's how it might go down. Everyone I spoke to said it will probably take a couple of days. Part of that is because this is a fairly notorious case. A lot of people will have heard about Bankman Fried and presumably formed some kind of opinion that would, you know, disqualify them from being a juror on the trial. I'm not sure where the DOJ is getting their estimate from. It's very possible that, you know, through the questionnaires that the jury pool is sent through the, you know, the kind of the mass selection process or deselection process that the judge engages in, maybe that streamlines a big part of it by kind of, you know, reducing or like immediately filtering out the people who are most blatantly, you know, either knowledgeable or biased or otherwise have their own preformed viewpoints about the case. And so the jury selection might just be focused on, you know, those individuals who have made it through those initial filtering processes. But that's speculation on my part. I honestly am not sure if it is a better part of the day that we could see opening statements as soon as, you know, next Wednesday, October 4th, which would be a pretty rapid start to the trial. And Coindesk did some work to try to suss out what it is that lower Manhattan New Yorkers might say if they were randomly picked for a jury. What did you discover there? Yeah, no, so Coindesk's Dylan and Victor went to Manhattan, downtown Manhattan to the financial district, and literally just went up to people and said, hey, we're with Coindesk. Have you heard of FTX? Have you heard of Sam Bankman -Fried? And a fairly large part of this group just hadn't heard about it. You know, they weren't familiar with it. They weren't comfortable talking about crypto. They weren't familiar with crypto. And of those who were, you know, I think they found a fairly even mix. There were some individuals who had heard about Bankman -Fried, some individuals who had only heard about crypto, some individuals who were very knowledgeable. They actually found a, you know, a Yahoo anchor who was the most knowledgeable about it naturally as, you know, order covering the financial space. But they also found people who were looking for jobs in crypto, people who were investors in the space. By and large, it seems to, you know, a lot of the people they spoke to just weren't interested or talking, interested in talking about crypto or in, you know, being part of this, being part of crypto. So if that is a representative sample of who we'll see next week at the jury pool, it'll be interesting because we'll see a large, potentially large, jury pool of people who aren't familiar with crypto. Again, on one of the biggest, you know, bang in on one of the biggest figures in the space. Recently, the defense proposed certain questions that it would ask the jurors and the government said that they felt these were quote unquote intrusive. What were some of the questions that were proposed and what was the government's response? Yeah. So, you know, the background here is both the DOJ and the defense team filed their proposed jury questions to help filter potential jurors. The defense team in particular had a number of questions about, you know, how these potential jurors felt about things like effective altruism, about political donations, about ADHD and people who have ADHD. And the DOJ response was really, you know, they felt that some of these questions, for example, about effective altruism and about political donations seemed kind of primed to, or designed to prime the potential jurors to think, oh, well, Bankman Fried was trying to do all of this in service of this effective altruism philosophy. Therefore, he was trying to raise money to donate to better the world or designed to try and prime the jury to think, okay, well, you know, political donations is fine. So these allegations about breaking the law in the way he tried to donate funds maybe is, you know, overreach or whatever. And in the intrusive part, you know, treating just kind of this question of ADHD and whether or not people were, you know, involved with individuals who had it or the DOJ just felt that these questions were really designed to try and shape how the jury would see Bankman Fried as opposed to just kind of gauge their existing biases. And so the DOJ opposed these questions and I think we're still waiting to see for sure if there's any public response on the judge prior to jury selection on Tuesday. All right. So in a moment, we're going to talk about different legal strategies that the defense might pursue. But first, a quick word from the sponsors who make this show possible. 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Recently, the defense did propose a number of witnesses, but the judge denied most of them. Who were these proposed witnesses and why were they denied? Yeah, so the DOJ and defense both had a number of proposed expert witnesses. The defense in particular had a number of individuals that they said could speak to everything from the terms of service that FTX operated under to the FTX software to just rebutting certain DOJ witnesses. The judge basically said he agreed with the DOJ in rejecting all of these proposed witnesses. There were seven. He did allow the defense to call for four of them later on, but they have to meet certain requirements and fill out certain disclosure forms first. A big part of the judge's reasoning was the witnesses had just not adequately explained what they wanted to testify about or what they would say, and so they didn't have or he didn't have enough information to allow them to testify, which was functionally the DOJ's argument as well. That being said, some of these proposed witnesses are intended to act as rebuttal witnesses to DOJ's witnesses. I know we're saying the word witnesses a lot, but that's what it comes down to is four of these witnesses could come back and respond to, you know, either FTX intercircle members who are testifying on behalf of the DOJ. One of the potential witnesses that the defense can call forward is someone who can speak to the actual technical software underlying the, you know, FTX program, again, in response to DOJ witnesses. The judge did completely ban, for example, a British barrister who was supposed to explain the FTX terms of service as well as someone who was supposed to speak to kind of the crypto industry at large, saying that, you know, those witnesses and that proposed testimony seemed a bit too far afield from what the case would be about and could probably do more to confuse the jury than to clarify anything. And SPF's team also wanted to block a proposed government witness that was also denied. Who was that and why did the judge deny that motion? The DOJ proposed a University of Notre Dame professor to testify about some forensic analysis he did on FTX financials. The defense objected. They said that this witness would basically just reiterate the DOJ's claims, the allegations, but the DOJ argued that he was doing his own analysis of the data he had access to. And so it wouldn't just be stating the DOJ's claim. He would be providing his own expert insight based on his own work, you know, examining the databases that he had access to. And the judge agreed with that and said that based on what he'd saw and based on what the witness disclosure had provided, the witness was likely just speaking to his own expertise and looking at actual data as a third -party expert witness might do. And so those witnesses are allowed right now. We're still waiting on the full and final witness list, but we now know that there are probably at least a dozen witnesses that we're going to hear from over the next six weeks. And who are the ones that stick out to you on that list? I think the cooperating witnesses, so the FTX inner circle, that's former Alameda Research CEO Carolyn Ellison, former FTX director for engineering Nishat Singh and Gary Wang. I forget which one of them was the director of engineering. The other one was a fellow executive, but you know, these are the three individuals I think we're going to hear from probably first, maybe. Might hear from them as soon as next week, not certainly the week after. They're the ones who were in it, right? They were involved in this. They were part of FTX. They were part of the highs. I think we're going to probably hear from them, you know, how FTX might've fallen apart. I know from court filings, we know that DOJ wants to ask Carolyn Ellison about the FTT token and allegations that Sandbank and Freed was directly involved in trying to argue for Alameda to take a large sum of it and to potentially allegedly manipulate the price. So I think that testimony is going to be really interesting just because, again, it's the firsthand account of what happened. We're also probably going to see the defense try and discredit these witnesses to the extent possible, right? Straight out of the gate saying, well, you know, you weren't threatened with jail if you didn't testify in turn against your former boss. So I imagine we're just going to hear arguments like that from the defense during cross -examination, but either way, I think this is going to, you know, those are the three witnesses I think we're looking forward to most right now. And then once we're past that kind of initial surge of FTX insiders, that's when we'll get to kind of more, I don't because I don't think that is the right word for it, but, you know, people who are looking at it from kind of the, you know, again, forensic analysis perspective, people who are going to be able to kind of dig through and say, all right, well, you know, we've looked through the smoking remains and here's what we found. And I think that will also be interesting because it'll be really a third -party perspective on, you know, here's how this thing was set up and here's where things may have gone wrong or here's where things may have fallen apart. And getting a third -party perspective on that I think is going to be really fascinating because there'll be, I assume, a bit more objective about it than, you know, people who built it and worked on it maybe could be. One other kind of motion that happened this week that was pretty interesting or development, I should say, is that the judge did allow SPF's team to ask some of the witnesses about their drug use. What do you think will be the significance of that line of questioning? I think that goes back to, you know, a witness, cooperating FTX inner circle member saying, while we were at FTX, Sam directed us to manipulate FTT, whatever, you know, just speculating what someone could say. And the defense comes back and says, well, you know, are you sure that's what he said? Were you high at the time of these conversations or were you engaged in recreational drug use during the time you were running this company? You know, if I'm a member of the jury and I hear, okay, well, everyone was partying and on drugs and doing weird stuff or, you know, potentially, you know, in an altered state of mind, that might shape how I view the, you know, the defendant, the verdict, the whole case. So the judge did say that prior to making those, you know, kind of questions, the defense has to notify the prosecution and the judge about it. So it's not going to be a case of like they'll blindside the witnesses about this, but I imagine that's going to kind of go back to this effort to try and say like, okay, you know, Bankman Fried wasn't doing something wrong on his own or intentionally, it's just that things fell apart, but they were well -intentioned. The defense is going to attempt to, I think, pin some of the blame on legal advice that Bankman Fried received. How effective do you think that argument will be at trial? That's a really hard question to answer. I think the problem that the defense has is there's really no denying that FTX fell apart and it fell apart in like a very dramatic fashion, right? The day it filed for bankruptcy that evening, what, a couple hundred million dollars or tens of millions of dollars worth of crypto was stolen, I think. I forgot the exact amount, but you know, it was a pretty dramatic way to cap off what was already a chaotic week. So the problem the defense has is they can't say, well, FTX is fine. And so they're leaning on this advice of counsel defense. Their argument is going to be, you know, Bankman Fried was well -intentioned. He told his lawyers everything he wanted to do, and he did everything they told him to do. And so because it all fell apart, you can't really pin that on Bankman Fried. You have to look at the advice he was given and the information he was acting on. And so I guess part of the problem that the defense might have here is did they share or did Bankman Fried share everything he wanted to do with his attorneys? Did the attorneys have all the information and did he do exactly everything the way his attorneys told him to? And I don't know, you know, I'm sure we'll see answers to those questions over the next, you know, six weeks or so, but that seems to be kind of how that might play out. And it's going to be an interesting argument for sure. But again, I think it goes down to the central problem of FTX for sure collapsed and how you respond to that. One other issue is that the judge did rule that the prosecution could mention SPF's political donations. And there are charges specifically related to that that will be tried in a separate trial next year. So why were those allowed in this case? So this is where we get into what has become one of the new fun parts of being a court reporter in this case is Bahamas extradition treaties. So the original indictment that Bankman Fried was charged with back in December of 2022 did include campaign finance violations as one of the charges. But because it did not appear in the charging document that the Bahamas Police Department had, there's a Bahamas National Police, something like that, Bankman Fried's defense team successfully argued that they could not bring that charge right now because he had agreed to be extradited on the first seven charges, which were wire fraud and conspiracy to commit wire fraud and conspiracy to commit securities and bodies fraud, et cetera. So what it seems like is going to happen is the prosecution is going to try and fold all of that into all the political donation stuff into the other charges, into the wire fraud charges, and say, well, you know, we have the evidence, we have the allegations, and here's what you have to look at what that means for the next trial. And, you know, you're absolutely correct. There is another trial currently tentatively scheduled for either March or April 2024, next spring, either way, where we will be going through all of this again. But a lot of that is dependent on the Bahamas. And yeah, we could probably talk about that for another hour if you wanted to. All right. Well, we'll leave that for another episode. But one thing I did want to ask about is earlier in this interview, you said that his sentence was likely to be in the range of 10 to 20 years. And obviously, you know, there's many charges and we don't know which ones he'll be found guilty of and which ones he won't. But how are you coming up with that estimate? So yeah, I should definitely be more precise there. So I personally am not a lawyer or an expert in this. I have spoken to a number of lawyers about this. And what they said is, if you have a defendant who is found guilty, so these assumption here is that he is convicted on at least one of these charges. But if he's found guilty on even several of the charges, because all of the conduct is similar, because it's all kind of identical conduct at the core, a judge, when making a sentencing determination, will basically fold all the charges into each other, right? All the conduct. And so even though each of these charges, if you look at the DOJ, press release says, oh, it contains a maximum sentence of 20 years or five years, whatever. It's not going to be consecutive. It'll be concurrent. So the estimate I'm getting from various attorneys that I've spoken to over the past few weeks is probably be somewhere in the, you know, 10 to 20 year range. Some estimates came down as low as five years, some as many as 36 years. But they all seem to base that on just kind of the allegations, the charges themselves combined with the amount of money allegedly lost, which is more than 50 million, combined with the severity and all of that. Yeah. And so 50 million is sort of like some thresholds because I think it goes in levels of severity. Yeah. And the higher the number goes, the longer the sentence. However, that's the largest threshold, obviously. Yeah. I literally looked up the federal sentencing guidelines, which by the way, is a very confusing document. I did not understand it. So I asked someone else to explain it to me, but yeah, it's the different thresholds that you mentioned. And it starts with the, I think the thousands range and then just kind of escalates up and 50 million seems to have been the uppermost that they had. So it's 50 million plus. I think the allegation is something like 10 billion loss from FTX. So 10 billions, a hair more than 50 million. Just as many multiples. So that will probably be kind of the way they calculate it, probably. And again, this is dependent on if he's convicted on one or more charges and all sorts of stuff. Yeah. Okay. Well, we will have to see how all that plays out. Thank you so much for explaining all of this on Unchained. Thanks for having me again. Always great to talk to you. Yes. Same here. Don't forget next up is the weekly news recap today presented by veteran crypto reporter and Columbia University night budget fellow, Michael Del Castillo. Stick around for this week in crypto after this short break. Join over 80 million people using crypto .com. One of the easiest places to buy, trade and spend over 250 cryptocurrencies.
Thinking Crypto News & Interviews
A highlight from SEC GARY GENSLER DELAYS BLACKROCK BITCOIN ETF, ETH FUTURES ETF APPROVED, RIPPLE FORTRESS, PAYPAL CRYPTO PATENTS
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to start off with big news from the SEC. They have delayed a bunch of Bitcoin spot ETF applications, and the applications includes BlackRock's, Bitwise and some others. So not denials, but delays. So corrupt scumbag regulator Gary Gensler continues his clown show. We know he has approved futures ETFs, and in fact, we got news that Valkyrie got their approval for an Ethereum futures ETF. So why is he approving these futures ETFs without hesitation? Because, folks, they can be used to manipulate the market and drive the price down, right? It allows for folks to short the market. And that's why a Bitcoin futures ETF was approved, multiple Bitcoin futures ETF were approved over the years. And yet the SEC kept denying spot ETF approvals. And we know in the Grayscale lawsuit, the three judges said the SEC was arbitrary and Bitcoin spot ETF. So we have to keep putting the pressure. Again, we have a delay here and I think we can expect more delays, right? Until Gary starts feeling the pressure and we saw members of Congress send letters to Gary asking him to approve the Bitcoin spot ETF and highlighting the Grayscale lawsuit. So I think eventually the pressure will be on him where he's going to have to do this. And in one way, in one way, this is a good thing that it's not getting approved now, because in my opinion, I believe the Fed is going to continue to raise rates till the end of the year. And they're going to pause officially in Q1 of 2024, where I believe they're going to start quantitative easing next year. So global liquidity will come back. Right now we are in a tightening cycle, rates are up, inflation is still an issue. So the markets are not really primed for a lot of capital to come in. That doesn't mean that the approval can happen now. But in my opinion, the approval news will help drive the price up and eventually as these products are fully launched by BlackRock and others, a lot of capital will start flowing through them. So in a way it's a good thing, but still on principle, it just shows Gary Gensler is a scumbag regulator. So once again, Valkyrie got their futures ETF approved by the SEC, so expect more volatility around Ethereum. Now, speaking of Bitcoin, a luxury car maker, Bugatti, and that's a very expensive luxury car maker, Bugatti cars, many of them are like a million dollars and over, officially launches Bitcoin ordinals collection. So really cool that big brands are adopting crypto in different ways, whether it be tokenization, NFTs, and much more. The issue is the Bitcoin blockchain cannot handle these things. It more adds congestion to the network, which increases time of transactions as well as costs. So it's not made for that. And I know there are folks who say, oh, you know, this is a good thing, but I don't think it's a good thing for Bitcoin. I think there are other blockchains out there that can handle these things and not have ridiculous costs and fees. So but I think overall, this is good for the market. Now Ripple CEO, Brad Garlinghouse, tweeted out the following today, a few weeks ago, we signed a letter of intent to acquire Fortress Trust. We've since made the decision not to move forward with an outright acquisition. The Ripple will remain as an investor in Fortress. The Fortress team is incredibly talented and has built products solving real customer problems. While this outcome is different from what was originally planned, we'll continue to support them and hope to work together in the future. So obviously, we don't know the details as to why they're pulling out here, but they will remain an investor. So just an update on that, folks. Now a quick word from our sponsor, and that is Uphold, which makes crypto investing easy. Uphold is a great platform that I've been using since 2018, so I can certainly vouch for this platform. They have 10 plus million users, 250 plus crypto currencies, and they're available in 150 countries. You can also trade precious metals and equities on this platform. If you'd like to learn more, please visit the link in the description. Now we have big news around Coinbase. They tweeted out today, the expansion continues. Thrilled to announce that Coinbase International Exchange has secured regulatory approval from the Bermuda Monetary Authority to enable perpetual futures for non -U .S. retail customers. You may have seen the phase two of our go -broad, go -deep strategy for international expansion. Providing greater access to go -broad products, including derivatives, is a crucial part of that strategy, all with the support of forward -looking regulators. Coinbase Advance will begin to offer perpetual futures trading in the coming weeks as access to regulated derivatives expands to more global customers. So really big win here for Coinbase, obviously it excludes U .S. users, but they're going to be able to offer futures trading and much more to many parts of the world. And if only the United States could get its act together and pass regulations and do the right things, you know, U .S. users could benefit from this. But you know, once again, we're dealing with clowns like Gary Gensler. Now PayPal patent apps signal an interest in Layer 2's NFTs. PayPal continues, folks, to just go aggressive in the crypto market. Obviously, recently they launched a stablecoin. We know back in 2021, they launched crypto trading for both PayPal and Venmo. They've been four patent applications, which were published since September 21, suggesting that PayPal is taking a close look at distributed ledger tech. So they're going all in, folks, and I don't blame them, right? You better innovate and adapt to the new disruptive technology, or you will be disrupted and be put out of business. Just ask the folks at Blockbuster what happened to them as Netflix and the internet and streaming and much more went and took their lunch. So really, really bullish. Let me give some details on these applications. The most recent application, published Thursday and originally filed in March of 2022, delves into the details of how validators or miners should be selected during the process of adding transactions to the blockchain. The document states that the company's disclosed techniques could advantageously allow steering of blockchain requests to a desired subsets of miners slash validators. Three other patent applications released on September 21 were also filed in March of 2022. One offered up supposedly new methods and systems to enable off -chain transactions through NFT marketplaces. Boy, imagine PayPal launching an NFT marketplace. Another mentions the concept of a so -called omniverse, which in this context suggests a product that deals in multiple metaverses. The third describes another conceptual online transaction processor. This processor's goal is to facilitate payments between users and merchants operating on different network layers, layer ones and layer twos in a more efficient manner. So essentially looking to build interoperability, that is going to be key. And notice users and merchants, right? So you may have users, let's say on the XRP ledger and merchants on the Polygon blockchain, how do they connect, right? And I'm just giving an example, obviously they mentioned layer one and layer twos here. So it could be like Ethereum and Polygon is a layer two scaling solution, but also there's going to have to be compatibility with different blockchains. So really great stuff here from PayPal and a sign of what's to come folks. This is a stuff that makes me very bullish. Now Circle, they're expanding USDC on the Polygon blockchain, and that's going to be launched on October 10th. So Circle continues to make smart moves here, pretty much getting USDC on all the top blockchains. And once again, there's going to be interoperability and much more. So the ecosystem continues to grow. Now folks, some of you may have seen this, the New York Post did an article saying the Winklevoss twins, Tyler and Cameron, secretly withdrew $280 million in assets before the crypto firm collapsed. This is according to sources, right? So they didn't provide any proof. Well, the folks at Gemini, they addressed this issue and gave some clarity that it's actually false. They said, we are disappointed that the New York Post has chosen to recklessly publish a completely misleading story about the Gemini earn program. Everything the post alleges in its story is the exact opposite. The $282 million that was withdrawn from the Genesis in August of 2022 was in fact earned users money. It was not Gemini's corporate funds, and it was not the personal funds of our founders, Cameron and Tyler, or their investment from Winklevoss Capital. So they clarified that, but kind of a hit piece here from the New York Post. Now folks, speaking of the Winklevoss twins, Mark Zuckerberg, and many of you know the history of Facebook with the Winklevoss twins and Mark Zuckerberg, well, Mark was interviewed on the Lex Friedman podcast, and they did it through the metaverse. People have been roasting Mark and his version of metaverse for years, they've lost billions of dollars. Look, I've even roasted him a little bit, right? Because their metaverse product was not great, but boy, have they made a huge leap. Guys, go check out the interview with Mark Zuckerberg on the Lex Friedman podcast. They did it through the metaverse using the Oculus, and the new feature is this lifelike representation of their faces and their upper body, essentially, and it is incredible, folks. It is incredible. You have to see this. And you may say, Tony, why are we talking about this? Well, folks, this metaverse set up with full immersion, right, will eventually include a lot of NFTs and blockchain and tokens. It's all part of the same technological adoption. You're going to see more tokenization, once again, everything running on the blockchain, and you're going to need the blockchain in the metaverse because it's going to be hard to plug in Web2 payment apps, right? It's going to be hard to go use PayPal in the metaverse versus using stable coins or different tokens to exchange value. So this is incredible. I'm really blown away by what Mark and the folks at Meta did here. And I'm not some big advocate of you must live in the metaverse. I believe the metaverse is going to be useful. I think with everything in life, you've got to have balance. Will I be participating in some metaverses? Yes. Will I be spending all my time in the metaverse? No. I will be out getting fresh air, touching grass, going out for walks and so forth. That is how I grew up. Obviously, we live in a digital world, but we have to balance it out. But future generations, if you're listening, some of you younger kids, somebody listening to this 10 years from now, please don't be fully immersed in the metaverse. Have a balance, spend some of your life outside of it. But folks, this is incredible. Go check it out. Finally, some more good news here. Our judge denies temporary release for Sam Bankman -Fried suggests he could face a very long sentence. That is music to my ears. I love it. This guy is a fraud, a liar, a criminal. He should go to jail along with Alex Mashinsky. And we have to make sure we do a good job of flagging these guys, man, because we don't need this kind of stuff in the crypto industry. We're trying to mature, have good infrastructure and avoid any type of corruption and criminal activity as best as possible. Obviously, it's hard to stop those things. They happen because it's part of human nature. Just look at Bernie Madoff. He was in the most regulated financial markets, yet he was scamming people out of millions, if not billions. I hope this guy goes to jail for a long time and he doesn't get off because we know his parents are connected politically and there's a whole bunch of stuff that's been happening there where money from FTX was funneled to his parents. So, you know, I hope they are all held accountable, folks, friendly reminder, my interview with Congressman Warren Davidson will be published tomorrow. So be sure to check that out. Make sure you got the subscribe button hit, hit the five star rating on the podcast platforms. And I'll talk to you all later. Bye bye.
Mark Levin
Retailers Lost More than $112 Billion In 2022 to Crime
"Experts so -called who are behind this sort of thing, and of course you have these so -called prosecutors who are basically the front for the criminal enterprises in this country, the far left, many of them with this agenda funded by Soros, but not just Soros, a lot of dark money. And so you have retailers, retailers have lost 112 billion dollars. They're closing stores faster than they can open them. And over at Town Hall, Guy Benson, who's one of the great columnists, who does a fantastic job on TV, he writes, one of the fashionable justifications for rioting and looting was that large companies held insurance policies so such crimes were essentially victimless. It's always dangerous ignorance. It fueled lawlessness, that has resulted in immense harm and even deaths. many And small businesses could not and still cannot weather crime sprees. Blathering about insurance doesn't a family save -owned store teetering on the brink as neighborhood safety deteriorates. And even large corporations can only withstand so much. Hence the exodus of businesses from decaying urban centers and the shuttering of franchises by enormous companies like Starbucks,
The Hair Radio Show with Kerry Hines
Elderly Army Vet Mistreated by Police: Attorney Lisa Bloom Weighs In
"Guys know Lisa Bloom. She is one of television's top attorneys as well as just helping us to navigate so many of these issues that have been popping up and just standing up for folks who may not feel like they have a big voice, so it's always an honor for us to welcome Miss Lisa Bloom of the Bloom Firm to the Hair Radio Morning Show. So again, good morning, Lisa. Thank you so much for having me and for the kind introduction. Absolutely, and listen, you have a wonderful client that I had a quick moment to chat with a little bit, Mr. John Parrish. We're going to get him totally intro here, but first I want to bring to the line one of my co -hosts, we produce a program called the Vet Talk Radio Show, which airs across my network, and Michael Hopkins is the host of that program, and Michael himself is a disabled veteran, and this story, that's what I saw this week, but it just, there are no words that you guys are going to, we're going to kind of get into this a little bit so you will understand exactly what I'm talking about. So, Michael, I want to introduce you officially to Miss Lisa Bloom and to our very special guest today, Mr. John Parrish. Now, John, you are an Army veteran, and I understand that you were a lieutenant in the Army. That's correct. Right? And so this whole thing, which happened back in March of 2022, which was the California Highway Patrol officer stopped you for a misdemeanor traffic stop as you were driving home with your adult special needs daughter. And Mr. Parrish, now, I'm going to say this, you know, with a life well lived at 80, you know, I wouldn't expect you to be out there just, you know, doing all kinds of somersaults and things like that. So, you know, so anyway, you were, you don't pose, you didn't pose a threat, obviously, to anybody. I mean, you know, so with that, right? So the officers, I'm just trying to understand this as well. So now, you advised them that you had hearing problems, vertigo, and diabetes, and they still, you were handcuffed, amongst, I understand, and you were handcuffed. They handcuffed you tightly behind your back, and literally carted you off like you were property of some sort. So they ignored, literally, I'm sure you've told them several times and that that was painful. I mean, you know, that would be the first thing anybody would do. And so, and you were left in jail hours without receiving proper medical attention, despite, obviously, that you told them over and over and over again that it was needed. So, and it really kind of didn't happen, you know, you weren't really able to, they received that adequate medical attention until after you were released. So, and what has turned out, you sustained really bad injuries, as far as I can see. I mean, this is, you're talking about a broken arm, internal bleeding, and a hand that was severely swollen. So I have to go back a little bit on this, Mr. Parrish. What can you tell us, in your own words? Is that, did you have anything you wanted to add to that recount that I just mentioned? I missed your question. I'm sorry. Did you have anything that you wanted to add to that in terms of what happened that night? That was pretty much it. That's a, well, there's a lot of details, but that's a pretty good summary. Okay. So, Mr. Parrish, how did that make you feel? Because that was the first thing that jumped out at me, and I'm going to ask Michael on this too, but that was the first thing that jumped out on me, being an Army veteran and being a lieutenant, a first lieutenant, okay, in the U .S. Army, and knowing that, you know, some of that, someone can kind of treat you in this manner. What did that make you feel like, sir? It felt like being at P .O .W. Wow. That's what it felt like. Wow. Just unbelievable. Unbelievable. Lisa, I have to turn, yes. Oh, I'm sorry. Go right ahead, Mr. Parrish, please. I mean, first of all, I never expected to be arrested, even after the officers stopped me, and then, I mean, you know, maybe they give you a traffic ticket or something. I've had a couple of those in my life, but no, they arrested me and cuffed me and took me off to jail and, you know, and all those other bad things and transpired. So, it felt like being at P .O .W., because P .O .W. are mistreated by their captors, right? Yeah, I have to tell you, Lisa, I have to turn to you on this, and you've handled, you know, you've been on our show with many of these types of cases. Sadly, there are way too many. Yes. What, yes, what can you tell us? What really, you know, this is hard for us to take. What was your take on this when you met Mr. Parrish and found out about this? I was so outraged that my tax dollars are going to pay police to bully an elderly vet in my community. I mean, there is no reason for this, and I think law enforcement just over and over again we see this abusive behavior when it is not necessary. You know, John was simply driving down the road with his adult special needs daughter, as you say, he was fully cooperative when he got pulled over, he didn't threaten anyone, he didn't make any moves towards anyone, they don't even allege that he did. And so, there was no reason to handle him at all. And then, you know, even in the California Highway Patrol, the entity we're talking about, in their rules, they say that within their discretion, they cannot handcuff people who are pregnant, disabled, or elderly. And so, John, you know, made it clear, he said something like, I'm old, and he talked about his medical issues, and complained that his arm hurt, and, you know, there was no compassion for him as just a human being to take the handcuffs off. And then, when he got to the jail, he was asking for medical aid, that was not provided, as the law requires. And now he has, John, I think, can talk to you about how difficult it is at age 80 to try to heal, you know, the body just does not heal as fast when you're elderly.
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"And everyone.
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"And your fairy <Speech_Music_Male> stories for their smashing <Speech_Music_Male> <Advertisement> up my home. <Speech_Male> <Speech_Male> Stop. You <Speech_Male> vandals. <Speech_Music_Male> You homewreckers. <Speech_Music_Female> You have great <Speech_Male> physical. Arthur, <Speech_Male> come back, it's <Speech_Music_Male> pointless. <Speech_Music_Male> <SpeakerChange> <Speech_Male> I better go after <Speech_Male> him. Barman quickly, <Speech_Male> can you give <SpeakerChange> me four packets <Speech_Music_Male> of peanuts, please? <Speech_Music_Male> Certainly, sir. <Speech_Music_Male> There you are. <Speech_Music_Male> Two pounds. <Speech_Male> Here, have <Speech_Music_Male> the lot and get <Speech_Male> all these people drink <Speech_Male> plays. Hey everyone, <Speech_Music_Male> the drinks are on me <Speech_Music_Male> have whatever <SpeakerChange> you like. <Speech_Music_Male> <Speech_Male> Are you serious, sir? <Speech_Music_Male> I mean, do you <Speech_Music_Male> really think the world's going <Speech_Music_Male> to end this afternoon? <Speech_Male> Yes, in <Speech_Male> just over one minute and <Speech_Music_Male> 35 seconds. <Speech_Music_Male> Well, isn't there anything <Speech_Music_Male> we can do? <Speech_Music_Male> <SpeakerChange> No, <Speech_Music_Male> nothing. <Speech_Music_Male> I always thought you were meant <Speech_Music_Male> to lie down and put <Speech_Music_Male> a paper bag over <Speech_Music_Male> your head or something. <Speech_Music_Male> Yes, <SpeakerChange> if you like. <Speech_Male> Well, that helped <Speech_Male> then. No, <Speech_Music_Male> excuse me. <Speech_Music_Male> I've got to go and find my <Speech_Music_Male> friend. <Speech_Music_Male> <Speech_Music_Male> Oh well, <Speech_Music_Male> then. First order, <Speech_Music_Male> please. <Speech_Music_Male> <Speech_Music_Male> <SpeakerChange> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> You pinstriped <Speech_Music_Male> <Advertisement> Barbarians. I'll <Speech_Male> <Advertisement> sue the council for every <Speech_Male> <Advertisement> penny it's got. <Speech_Male> <Advertisement> I'll have you hung drawn <Speech_Male> <Advertisement> and quarter and whipped <Speech_Music_Male> and bored. And then I'll <Speech_Music_Male> chop you up into little bits <Speech_Music_Male> until <Speech_Music_Male> <Speech_Music_Male> you've had enough. <Speech_Music_Female> Don't bother, there <Laughter> isn't time, there's only <Speech_Music_Male> ten seconds left. And <Speech_Music_Male> then I'll do it some more. <Speech_Music_Male> <Advertisement> And when I <Speech_Music_Male> <Advertisement> finished, I'll take all the <Speech_Music_Male> <Advertisement> little bits and I'll jump <Speech_Music_Male> <Advertisement> on them. <Speech_Music_Male> <Advertisement> And then I will carry on <Speech_Music_Male> <Advertisement> jumping on them until I <Speech_Music_Male> get blisters or I can think <Speech_Music_Male> of something even worse to <Laughter> do. And then I'll <Laughter> <Speech_Music_Male> what the hell's <Speech_Music_Male> that? <Speech_Music_Male> <Advertisement> On the quick <Speech_Music_Male> <Advertisement> of the hair. <Speech_Music_Male> What the hell is it? <Speech_Music_Male> It's a fleet of flying <Speech_Music_Male> <Advertisement> saucers. What do you <Speech_Music_Male> <Advertisement> think it is? <Speech_Music_Male> <Advertisement> Wait, I'm gonna take <Speech_Music_Male> <Advertisement> all of this rod. <Speech_Music_Male> <Advertisement> What do you mean a fleet <Speech_Music_Male> <Advertisement> of flying saucers? <Speech_Music_Male> <Advertisement> It's a boba <Speech_Music_Male> <Advertisement> constructor beat. <Speech_Music_Male> <Advertisement> A what? A Vogue <Speech_Music_Male> <Advertisement> on contract, please. <Speech_Music_Male> <Advertisement> I picked some news <Speech_Music_Male> <Advertisement> that they were like in a <Speech_Music_Male> <Advertisement> few hours ago on my summing <Speech_Music_Male> <Advertisement> for radio. Oh, <Speech_Music_Male> <Advertisement> I don't think I need Coke <Speech_Music_Male> <Advertisement> anymore of this. <Speech_Music_Male> <Advertisement> I think I'll just go and <Speech_Music_Male> have a little light down <Speech_Music_Male> somewhere. No. <Speech_Music_Male> Just stay here. <Speech_Music_Male> Keep calm. <Speech_Music_Female> <Advertisement> Now take over this. <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> Hang on, we're <Speech_Music_Female> <Advertisement> hitching a lift. <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Music> <Advertisement> People <Music> <Advertisement> are alternative <Speech_Music_Male> <Advertisement> ways. <Speech_Music_Male> <Advertisement> This is posterity <Speech_Music_Male> <Advertisement> for the blood cells <Speech_Music_Male> of the galactic <Speech_Music_Male> <Advertisement> hyperspace value. <Speech_Music_Male> <Speech_Music_Male> As you will <Speech_Music_Male> learn out there where <Speech_Music_Male> <Advertisement> the plants for <Speech_Music_Male> the development of <Music> the outbreak these <Speech_Music_Male> <Advertisement> are the western spiral <Music> <Advertisement> out of the <Music> building <Speech_Music_Male> of a hyperspace <Speech_Music_Male> express booth through <Music> your hospital <Music> through and <Speech_Music_Male> <Advertisement> regrettably <Speech_Music_Male> <Advertisement> you'll find is <Speech_Music_Male> one of those shadow for <Speech_Music_Male> damage. <Speech_Music_Male> The process will <Speech_Music_Male> take slightly less than <Music> 200 minutes. <Speech_Music_Male> Thank <Speech_Music_Male> you very much. <Speech_Music_Male> <Speech_Music_Male> <Music> <Speech_Music_Male> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> There are <Speech_Music_Male> demolition moments, <Speech_Music_Male> but the old <Speech_Music_Male> display of your little <Speech_Music_Male> prank argument <Speech_Music_Male> in and after the <Speech_Music_Male> tour of the <Speech_Music_Male> <Advertisement> 50 of the world <Speech_Music_Male> is. So <Speech_Music_Male> you have plenty of time <Speech_Music_Male> to answer any <Speech_Music_Male> formal planets, <Speech_Music_Male> and it's far too late <Music> to start making <Speech_Music_Male> your father right <Music> now. <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> What do you <Speech_Male> make of the market <Speech_Music_Male> out of the world? <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> Is the way you know <Speech_Music_Male> <Advertisement> it? I'm <Speech_Music_Male> sorry that if you can't <Speech_Music_Male> be born with a few believe <Speech_Music_Male> relative global affairs, <Speech_Music_Male>
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"On no account allow a vogon to read poetry to you..
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"Not actually evil, but bad tempered bureaucratic officious and callous. They wouldn't even lift a finger to save their own grandmothers from the ravenous bug blatter beast of trial, without orders signed in triplicate, sent in, sent back, queried, lost, found, subjected to public inquiry, lost again, and finally buried in soft peak for three years and recycle this firelighters. The best way to get a drink out of a vogon is to stick your finger down his throat, and the best way to annoy him is to feed his grandmother to the ravenous bug blood beast of trial. Warning on no account allow a vogon to read poetry to you. What a strange book. How do we get a lift then? Well, that's the point. It's out of date now. I'm doing the field research for the new revised edition of the guy. So for instance, I will have to include a revision pointed out that since the Vogue has made so much money being professionally unpleasant, it can now afford to employ debt chassis cooks, which gives us a rather useful little loophole. Who are the dentures? They're the best cooks in the best drinks mixers and they don't give a wet slap about anything else and they'll always help hitchhikers on board, partly because they're like the company, but mostly because it annoys the fog on, which is exactly the sort of thing you need to know if you're an impoverished hitchhiker trying to see the marvels of the galaxy from less than 30 alterian dollars a day, and that's my job. Fun, isn't it? It's amazing. Unfortunately, I got stuck on earth for rather longer than I meant. And he came for a week and I was stranded for 15 years, but how did you get there in the first place? Easy. I got a lift with a teaser. You don't know what a teaser is, do you? I'll tell you. Teasers are usually rich kids when nothing to do. A cruise around looking for planets which haven't made interstellar contact yet. And bust them. Buzz them? Yeah, they found some isolated spot with very few people around and then right by some poor unsuspecting soul who known ever going to believe then strut up and down in front of them wearing silly antennae on their head making deep beat noises.
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"On no account allow a vogon to read poetry to you..
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"And your fairy <Speech_Music_Male> stories for their smashing <Speech_Music_Male> <Advertisement> up my home. <Speech_Male> <Speech_Male> Stop. You <Speech_Male> vandals. <Speech_Music_Male> You homewreckers. <Speech_Music_Female> You have great <Speech_Male> physical. Arthur, <Speech_Male> come back, it's <Speech_Music_Male> pointless. <Speech_Music_Male> <SpeakerChange> <Speech_Male> I better go after <Speech_Male> him. Barman quickly, <Speech_Male> can you give <SpeakerChange> me four packets <Speech_Music_Male> of peanuts, please? <Speech_Music_Male> Certainly, sir. <Speech_Music_Male> There you are. <Speech_Music_Male> Two pounds. <Speech_Male> Here, have <Speech_Music_Male> the lot and get <Speech_Male> all these people drink <Speech_Male> plays. Hey everyone, <Speech_Music_Male> the drinks are on me <Speech_Music_Male> have whatever <SpeakerChange> you like. <Speech_Music_Male> <Speech_Male> Are you serious, sir? <Speech_Music_Male> I mean, do you <Speech_Music_Male> really think the world's going <Speech_Music_Male> to end this afternoon? <Speech_Male> Yes, in <Speech_Male> just over one minute and <Speech_Music_Male> 35 seconds. <Speech_Music_Male> Well, isn't there anything <Speech_Music_Male> we can do? <Speech_Music_Male> <SpeakerChange> No, <Speech_Music_Male> nothing. <Speech_Music_Male> I always thought you were meant <Speech_Music_Male> to lie down and put <Speech_Music_Male> a paper bag over <Speech_Music_Male> your head or something. <Speech_Music_Male> Yes, <SpeakerChange> if you like. <Speech_Male> Well, that helped <Speech_Male> then. No, <Speech_Music_Male> excuse me. <Speech_Music_Male> I've got to go and find my <Speech_Music_Male> friend. <Speech_Music_Male> <Speech_Music_Male> Oh well, <Speech_Music_Male> then. First order, <Speech_Music_Male> please. <Speech_Music_Male> <Speech_Music_Male> <SpeakerChange> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> You pinstriped <Speech_Music_Male> <Advertisement> Barbarians. I'll <Speech_Male> <Advertisement> sue the council for every <Speech_Male> <Advertisement> penny it's got. <Speech_Male> <Advertisement> I'll have you hung drawn <Speech_Male> <Advertisement> and quarter and whipped <Speech_Music_Male> and bored. And then I'll <Speech_Music_Male> chop you up into little bits <Speech_Music_Male> until <Speech_Music_Male> <Speech_Music_Male> you've had enough. <Speech_Music_Female> Don't bother, there <Laughter> isn't time, there's only <Speech_Music_Male> ten seconds left. And <Speech_Music_Male> then I'll do it some more. <Speech_Music_Male> <Advertisement> And when I <Speech_Music_Male> <Advertisement> finished, I'll take all the <Speech_Music_Male> <Advertisement> little bits and I'll jump <Speech_Music_Male> <Advertisement> on them. <Speech_Music_Male> <Advertisement> And then I will carry on <Speech_Music_Male> <Advertisement> jumping on them until I <Speech_Music_Male> get blisters or I can think <Speech_Music_Male> of something even worse to <Laughter> do. And then I'll <Laughter> <Speech_Music_Male> what the hell's <Speech_Music_Male> that? <Speech_Music_Male> <Advertisement> On the quick <Speech_Music_Male> <Advertisement> of the hair. <Speech_Music_Male> What the hell is it? <Speech_Music_Male> It's a fleet of flying <Speech_Music_Male> <Advertisement> saucers. What do you <Speech_Music_Male> <Advertisement> think it is? <Speech_Music_Male> <Advertisement> Wait, I'm gonna take <Speech_Music_Male> <Advertisement> all of this rod. <Speech_Music_Male> <Advertisement> What do you mean a fleet <Speech_Music_Male> <Advertisement> of flying saucers? <Speech_Music_Male> <Advertisement> It's a boba <Speech_Music_Male> <Advertisement> constructor beat. <Speech_Music_Male> <Advertisement> A what? A Vogue <Speech_Music_Male> <Advertisement> on contract, please. <Speech_Music_Male> <Advertisement> I picked some news <Speech_Music_Male> <Advertisement> that they were like in a <Speech_Music_Male> <Advertisement> few hours ago on my summing <Speech_Music_Male> <Advertisement> for radio. Oh, <Speech_Music_Male> <Advertisement> I don't think I need Coke <Speech_Music_Male> <Advertisement> anymore of this. <Speech_Music_Male> <Advertisement> I think I'll just go and <Speech_Music_Male> have a little light down <Speech_Music_Male> somewhere. No. <Speech_Music_Male> Just stay here. <Speech_Music_Male> Keep calm. <Speech_Music_Female> <Advertisement> Now take over this. <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> Hang on, we're <Speech_Music_Female> <Advertisement> hitching a lift. <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Music> <Advertisement> People <Music> <Advertisement> are alternative <Speech_Music_Male> <Advertisement> ways. <Speech_Music_Male> <Advertisement> This is posterity <Speech_Music_Male> <Advertisement> for the blood cells <Speech_Music_Male> of the galactic <Speech_Music_Male> <Advertisement> hyperspace value. <Speech_Music_Male> <Speech_Music_Male> As you will <Speech_Music_Male> learn out there where <Speech_Music_Male> <Advertisement> the plants for <Speech_Music_Male> the development of <Music> the outbreak these <Speech_Music_Male> <Advertisement> are the western spiral <Music> <Advertisement> out of the <Music> building <Speech_Music_Male> of a hyperspace <Speech_Music_Male> express booth through <Music> your hospital <Music> through and <Speech_Music_Male> <Advertisement> regrettably <Speech_Music_Male> <Advertisement> you'll find is <Speech_Music_Male> one of those shadow for <Speech_Music_Male> damage. <Speech_Music_Male> The process will <Speech_Music_Male> take slightly less than <Music> 200 minutes. <Speech_Music_Male> Thank <Speech_Music_Male> you very much. <Speech_Music_Male> <Speech_Music_Male> <Music> <Speech_Music_Male> <Music> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Speech_Music_Male> <Advertisement> There are <Speech_Music_Male> demolition moments, <Speech_Music_Male> but the old <Speech_Music_Male> display of your little <Speech_Music_Male> prank argument <Speech_Music_Male> in and after the <Speech_Music_Male> tour of the <Speech_Music_Male> <Advertisement> 50 of the world <Speech_Music_Male> is. So <Speech_Music_Male> you have plenty of time <Speech_Music_Male> to answer any <Speech_Music_Male> formal planets, <Speech_Music_Male> and it's far too late <Music> to start making <Speech_Music_Male> your father right <Music> now. <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Music> <Music> <Speech_Music_Male> <Speech_Music_Male> What do you <Speech_Male> make of the market <Speech_Music_Male> out of the world? <Speech_Music_Male> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> Is the way you know <Speech_Music_Male> <Advertisement> it? I'm <Speech_Music_Male> sorry that if you can't <Speech_Music_Male> be born with a few believe <Speech_Music_Male> relative global affairs, <Speech_Music_Male>
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"Looking for the light. How do we doing here? We hitched a lift. Excuse me, are you trying to tell me that we just stuck out our thumbs and some green bug eyed monster stuck his head out and said, hi, fellas, hop right in, I can take you as far as basingstoke random act? Well, the thumbs and electronic studies are device, the roundabouts at Barnard's star 6 light years away, but otherwise that's more or less right, yes. And the bug eyed monster is a glistening green, yes. Fine. When can I go home? You can't. Aha, there it is. Good grief. Is this really the interior of a flying saucer? It certainly is. What do you think? It's a bit squalid, isn't it? What did you expect? Well, I don't know. Gleaming control panels, flashing lights, computer screens, not old mattresses. These are the then trashy sleeping quarters. I thought you said they were called vogons or something. No, no, no, no. The vogons are on the ship, the dentation of the cooks. They let us on board. I'm confused. Here, have a look at this. What is it? The hitchhiker's guide to the galaxy is a sort of electronic book. It'll tell you everything you need to know, that's its job. I like the cover. Don't panic. It's the first helpful or intelligible thing anybody said to me all day. Yeah, that's why it sells so well. Here, press this button on the screen and give you an index of a million entries, in fact, fast fine through the index of V, they were going to construct a fleet enter that code on the tabulator and listen to what it says. Constructively. Isn't it? If you want to get a lift from a vote on, forget it. They're one of the most unpleasant races in the galaxy, not actually evil, but bad tempered bureaucratic officious and callous. They wouldn't even lift a finger to save their own grandmothers from the ravenous bug blatter beast of trial, without orders signed in triplicate, sent in, sent back, queried, lost, found, subjected to public inquiry, lost again, and finally buried in soft peak for three years and recycle this firelighters. The best way to get a drink out of a vogon is to stick your finger down his throat, and the best way to annoy him is to feed his grandmother to the ravenous bug blood beast of trial. Warning on no account allow a vogon to read poetry to you. What a strange book. How do we get a lift then? Well, that's the point. It's out of date now. I'm doing the field research for the new revised edition of the guy. So for instance, I will have to include a revision pointed out that since the Vogue has made so much money being professionally unpleasant, it can now afford to employ debt chassis cooks, which gives us a rather useful little loophole. Who are the dentures? They're the best cooks in the best drinks mixers and they don't give a wet slap about anything else and they'll always help hitchhikers on board, partly because they're like the company, but mostly because it annoys the fog on, which is exactly the sort of thing you need to know if you're an impoverished hitchhiker trying to see the marvels of the galaxy from less than 30 alterian dollars a day, and that's my job. Fun, isn't it? It's amazing. Unfortunately, I got stuck on earth for rather longer than I meant. And he came for a week and I was stranded for 15 years, but how did you get there in the first place? Easy. I got a lift with a teaser. You don't know what a teaser is, do you? I'll tell you. Teasers are usually rich kids when nothing to do. A cruise around looking
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"The hitchhiker's guide to the galaxy by Douglas Adams, episode one. I.
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"On no account allow a vogon to read poetry to you..
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
manual-2022-03-14
"2022" Discussed on manual-2022-03-14
"The hitchhiker's guide to the galaxy by Douglas Adams, episode one. I.
upload - 2022-03-13-1
"2022" Discussed on upload - 2022-03-13-1
"On no account allow a vogon to read poetry to you..
upload - 2022-03-13-1
"2022" Discussed on upload - 2022-03-13-1
"The hitchhiker's guide to the galaxy by Douglas Adams, episode one. I.