35 Burst results for "FX"
DerrickTalk
Lori Harvey & Damson Idris Are Officially Over. I Don't Think Anyone Is Surprised
"Welcome to another edition of Convo Over Cigars. I'm your host, Derrick Andre Flemming on a Friday. Let's talk about a big story right now. It's over. According to sources, Damson Idris and Lori Harvey have officially thrown in the towel on their one year relationship. They both issued a joint statement confirming this on, I think it was IG. Now the couple reportedly started dating around December of 2022, later confirming that they were actually together. Damson Idris is the actor and model from the popular FX series Snowfall, which aired its finale on April 19th of 2023. Now, Lori Harvey, for those of you who are not familiar with this young lady, she is the 26 year old stepdaughter of comedian and TV personality Steve Harvey. In a statement released by Damson and Lori Harvey, they said that we are at a point in our lives where our individual paths require our full attention and dedication. So basically we split remaining friends and with the utmost respect for each other. I just think Lori Harvey needs to just take a chill. This woman, you know, and I don't judge, that's not what I do here on Convo Over Cigars, but you know, the past relationship with Michael B. Jordan, other relationships that she has been in with high profile celebrities, we're not gonna really throw under the bus or call names, but she has had her share of celebrity boyfriends. And you know, like I said, this is the stepdaughter of Steve Harvey. I just think she needs to find herself. You know, a lot of times when you get out of a relationship, instead of jumping right back into another relationship, you probably just need to heal. Probably just need to take some time and say, you know, take a deep breath and just be like, I just need to recoup from this because relationships are work, man. You have to recuperate. You have to, you know, get back into that mental space where you need to be. It seems as if she leaves one relationship and jumps right back into another relationship. And I think that's why they never last. So my advice, not that she asked for it, but this is just my opinion here on Convo Over Cigars, Lori Harvey, just take a break and do Lori, you know. Take a painting class or something, you know. Take up some, you know, skiing or something. Find a hobby, man. You don't have to necessarily define yourself by who's on your arm or by trying to find love. Obviously you're not ready to be in a long -term committed relationship. I'm just saying. You guys have been locked in to another edition of Convo Over Cigars. I am your host, Derrick Andre Flemming. I'm hoping that everyone has a fantastic Friday. Take care, guys.
What Bitcoin Did
A highlight from Bitcoin vs the Infinite Money Printer with Luke Gromen
"They're not going to cut the entitlements. They're going to print the money. And they're going to print the money with oil at 90. They're going to print the money with Bitcoin at 35 ,000. They're going to print the money. They're going to print the money. Happy Monday. How are you all doing? Did you have a good weekend? I did. OK. Real Bedford. They won on the weekend and were top of the league. So that is Real Bedford men and Real Bedford ladies both at the top of their respective league. What a start to the season. We've both got massive cup games this weekend. Get anywhere near Bedford and you want to come down, especially on Saturday, because before the men's game at 12 o 'clock, we've got a meet up. And I'm going to be joined by Robert Breedlove. So please do come down to Bedford. Come down to McMullen Park, enjoy some football, enjoy some Bitcoin, and hang out with the man Breedlove himself. Anyway, welcome to the What Bitcoin Did podcast, which is brought to you by the massive legends at Iris Energy, the largest NASDAQ listed Bitcoin miner using 100 % renewable energy. I'm your host, Peter McCormack. And today, we've got macro genius Luke Gorman back on the show. Now Luke is one of our absolute favorites here at WBD. Me, Danny, and producer Ben all love Luke, and he brought the fire this episode. We get into the infinite money printer, the bond market getting crushed, inflation, and social unrest in the US. We covered the lot. I know you're going to love this one, but if you've got any questions about this, any feedback, anything else, please do hit me up. It's hellowhatbitcoindid .com. And if you haven't checked out our event next year in April, Cheat Code, please head over to cheatcode .co .uk to get yourself a ticket. All right, on to the show. Luke, how are you? I'm doing well, Peter. How are you today? Yeah, I'm doing well. I do wonder if we'll ever jump on one of these calls. We do every six to 12 months and be like, yeah, do you know what? The economy's good. The banks are making good decisions. The government's doing well. It has no inflation. The world's all right. That would be nice, you know, we could all go to the beach and have a margarita or something. Yeah, it's a bit weird. It seems like everything's just getting worse. We had planned all these things to talk about and just while Danny was setting up the cameras, I was flicking through, I hate saying X, I'm going to keep it to Twitter. And our mutual friend Linaldin tweeted out that the Treasury expects to borrow nearly 1 .6 trillion in net new debt during the six month period covering this quarter and the next quarter. Is there no limit to how much money they're going to borrow? It seems like the bond market is maybe making the early noises about attempting to restrict what they can borrow without Fed help, but it's really ultimately a function of what's the dollar, what's the bond market doing, what's the dollar doing? It's that classic rates versus currency decision. Can you explain that? Can you walk us through that? What is the bond market saying and explain it so I understand. Sure, so there's sort of the case for most places and then there's a case for the US because where the reserve currency is sure. And you also have this giant offshore dollar borrowing market, right, the euro dollar market, but there's 13 trillion dollars in offshore dollar denominated debt according to the BIS. So means that the implications of that are that as the dollar goes higher, so the Fed raises rates, the dollar goes up, dollar goes up, the foreigners who have borrowed in dollars see their effective borrowing rate go up, the cost of servicing that dollar debt goes up and so they need to somehow raise dollars. Well, they can't print dollars like the Fed, so where do they get their dollars from? Fortunately, or unfortunately, depending on which side of it you're on, foreigners have run surpluses against the United States by virtue of how the system works for a long time and particularly in the last 25 to 30 years. And so foreigners have about 18 trillion dollars net, so I don't want to say it's closer to 40 trillion gross, but I think it's 18 trillion dollars net in US dollar assets more than we have of theirs. It's this net international investment position I've talked about. So they have 18 trillion dollars of dollar assets, about seven point six trillion of that are Treasury bonds. And so, yes, they are short dollars, but only to the extent they are unwilling to sell treasuries to get dollars or sell stocks to get dollars to defend. And so what you see is this virtuous or vicious, I guess it is vicious cycle where the dollar goes up. Foreigners are forced to sell treasuries that rates go up as rates go up, the dollar goes up. You wash, rinse, repeat until we either get a calamity or more likely more. The way it's worked really increasingly frequently is the US Treasury market gets dysfunctional. And there's an index we follow called the move index. It's the volatility of the Treasury markets created by a gentleman named Harley Bassman who pointed out once that index goes over 150, the Fed has lost control of the bond market. And October 3rd of this year, it was 141. All of a sudden, everyone and their mother on the Fed came out and said, well, maybe the bond market's done our job for us. Maybe we're done raising rates. They tried jawboning the dollar down. It's it's sort of worked. It's stopped the dollar going up like every day, but it's it hasn't really gotten the dollar down. But that's ultimately as it relates to this situation for the US that as long as the dollar's going up, given this massive offshore dollar denominated debt and this US massive dollar asset net position that foreigners have that they can sell to get dollars. Ultimately, it's sort of all fun and games until the Treasury market loses an eye. And once the Treasury market loses an eye, the volatility gets to a point where it is indicating that the Fed is losing control of the Treasury market. That has been the point over the last four years. Where the Fed steps in and says no mas and at that point, they kind of say, well, it's not QE, we're growing our balance sheet, but it's not QE. You know, Jackson Hole, a couple of guys gave a speech that said it was a presentation. It was, you know, it's possible the Fed might have to do non -monetary policy purchases of treasuries. But it's important that we sort of lay that out that, you know, it's it's almost like, you know, those are those are trading sardines, not eating sardines. It's it's, you know, they're printing money for for market functioning reasons, not for monetary purposing reasons. And the market's not going to care. But that's ultimately that do they want if they want the Treasury market to function really well, given these levels of debt, they need the dollar to be a certain level lower than it is. If they want the dollar here, then they're going to need to restrict how much they're trying to borrow or be willing to lose control of the bond market and the Treasury market specifically. I'd like to pretend like I just understood all of that. I would. I really want to say I pretend I can understood all of that. But but it sounds complicated for the layman like me, the everyday guy, I can't interpret what that means. So basically what it means is unless the Fed prints the money to buy the rate down, then the rates are going to go up on the government until the government until rates ostensibly extremes inform the means. In theory, we the bond market could run away and then all of a sudden. The in theory, you can get to one hundred percent of your revenues in interest expense, nobody, nobody for anything else, in which case either the Fed prints the money or we say, sorry, Ukraine, sorry, Israel, sorry. Everywhere we're bringing our boys home. And in fact, they have to book their own tickets because we don't have the money. And boomers, you're on your own. I know we promised you hip, sneeze, drugs, docs, all that, but sorry. All we have is money is to pay the interest. So this is an issue of supply and demand in bonds. And the big risk is they cannot afford the interest on the debt they have themselves, because what is it like 30? Where are we at now on the debt? Thirty three trillion themselves? Thirty four. High interest rate is so it becomes unaffordable themselves. It's the only way to see that is it's more QE. Yeah, that's exactly I mean, it's ultimately a supply demand problem of of debt versus not just existing debt, new debt, and then also against the supply of balance sheet. Right. There's only so much global private balance sheet that can that the capacity to buy the stuff and continue to hold the old stuff and the balance sheet capacity increases as the dollar goes down, it decreases as the dollar goes up. And ultimately, that balance sheet capacity has repeatedly needed to be supplemented by the Fed's balance sheet, which is infinite. They can buy as much as they want. They will never run out. The flip side is, is that has implications for the dollar because you're effectively printing money to finance deficits. But if they do do that, would it be a case if they're trying to bring down the interest rates and they're using QE to do this? Isn't this just the cycle we've been going through over and over again? This will lead to more inflation and more inflation will lead to them having to raise interest rates again. You know, isn't this just a cycle that gets worse every every time we go through another cycle of this? Yeah, oh, it's to me, it's been a very it's a very I think it is the most important macro cycle. It's a very obvious cycle. In 2014, global central banks stopped growing their holdings of FX reserves. And what that means in plain English is foreign central banks stopped adding to their supply of treasuries. So if if one of your biggest marginal buyers stops buying, somebody else needs to buy. And as that happens, a couple of things, a couple of things happen. Number one, the dollar starts going up and number two, rates start going up. And that can manifest given the omnipresence of the dollar and the centrality of the dollar to the system that shows up a lot at different places. But dollar up rates up. And we've seen this sort of at first we regulated the banks in 2014 into, you know, it's a little bit like the cracks in the dam. Right. So the first crack in the dam is like, OK, foreign central banks are buying the debt anymore. OK, what are we going to have by what we have regulate the banks into doing. So they do that. And that works for a while. And then because the supply of water, which is U .S. federal deficits, just keeps growing and growing and growing. Right. Inevitably, the pressure from the water growing, growing another crack, money market funds. We're going to regulate them into that was 2015, 2016. Again, both of these things crowd out global dollar markets. They send LIBOR short term rates up. Then you end up driving the dollar up to levels that start creating problems around the world. What do we do? We weaken the dollar in 2016. We weaken the dollar in 2017 with the Treasury general account. Basically, the Treasury's checking account starts to inject our liquidity to kind of manage this process. 2018, more cracks, especially now that the Fed's QTing in earnest. We start regulating Trump, regulated U .S. corporate pensions into buying more treasuries, gave him a tax break. OK, now we've got our thumb in the in the in the wall. So and, you know, 2019, we get another crack with repo rate spikes. OK, oh, now the Fed has to step in. Now the Fed's growing their balance sheet. But it's not QE. It's just fixing the fact that repo went from two to eight overnight because there's too much supply of water and not enough demand for the water that kind of holds. That breaks again in March 2020 at the depths of the covid crisis. The Fed does mega QE. They call it QE. OK, leads to inflation. 2022, we're going to start backing off, we're going to tighten. They get, you know, whatever they really start getting aggressive in March, April of really tightening. And by September, the UK gilt market blows up. Uh oh. They all get together in Washington in October of 2022. And they give Janet Yellen, what we used to call on the desk, a hey MF 'er conversation and Yellen comes back and runs on the TGA. The dollar goes down 15 percent, buys time. Another, you know, so it's just this you it is a constant cycle that started 10 years ago, but it keeps getting faster and faster. Right. That 2014, we regulate the banks. We worry about it again to like 2015, 16 with money markets. And even then, you know, you didn't have to worry about the the dollar was not too high in that case till 2016, 2017 and had to be addressed. Then it was already end of 2018. The Fed had to stop raising rates. Then it was September 2019. Then you kind of covid sort of screwed up the pacing of it in terms of of getting a clean apples to apples read. But since then, it's accelerated, it's September 2019, you had March 2020, you had September as soon as they started raising rates, March 20 or September 2022, March 2023, September 20 or October 2023. Now, it just it's getting faster and faster. And so, yeah, it is really it fundamentally the problem is very simple, way too much U .S. deficits, not enough global private sector balance sheet unless the Fed is in there helping to buy this stuff of printed money. That's at the end of the day, that's it. That's the problem. Is it essentially paying off your credit cards with a new credit card? Absolutely. While the rates going up on it, if the Fed does step in and start buying bonds in that way, does the U .S. just turn into Japan? Japan? No, we turned into Argentina. Japan, Japan is. Night and day different than the United States in this situation, right, so Japan is a net international investment position, remember, so I said we have foreigners own 65 percent, that 18 trillion, 65 percent of US GDP. So the U .S. net international investment position is negative. Sixty five percent of US GDP. Japan's is positive. Sixty percent. So for starters, when Japan runs into that problem, the first thing they can do is ring, ring, ring, hey, Washington, it's Japan. Those dollar assets we have to the tune of 60 percent of of our GDP, we want to start selling five percent a year because we need to finance our our fiscal deficit of three percent a year and do two percent of stimulus. And they can do that for a long, long time. That's number one. Number two, they run a current account surplus, right, their trade surplus. So they are running the surpluses on the current account versus us running deficits. We need number three. OK, the deficits we're running, the twin deficits historically have been foreign financed. They have financed internally. So you can run you if you're financing internally as Japan, deflation is an option you're when you're financing internally. Right. Because now you can pay your people, you know, zero percent interest on long term bonds because the cost of living is fear and deflation. Your cost of living is falling. Living standards are rising politically. That works. You cannot do that when you're in the United States. If you're financing externally, you start running deflation as a twin deficit. You get into a debt spiral. Your debt pile gets bigger and bigger and bigger nonlinearly every year. And pretty soon you run into debt credibility issues. You also, as Japan, do not have to provide most of your defense because your friends, the United States, have provided it for most of the last 80 years. We have to provide our own defense and that defense appears to be getting much more expensive by the minute. And then lastly, the United States is very heterogeneous in population. And Japan is very homogeneous in population. So it's a lot easier to sort of get people to sort of, you know, go along to get along and take one for the team. Culturally, there's much more of a willingness to take one for the team. I think their government has probably all in all done probably a better job of maintaining their credibility or maybe losing their credibility less fast than ours has with its domestic populace, maybe a better way of putting it. And so when you roll those things together, but especially the net international investment position, the current account, you know, Japan can say ring ring Washington send us our money. We need it to finance ourselves. And that throws that, you know, sell treasuries. We're going to bring back the dollars and defend the yen with those by selling dollars and buying yen. And they can do that for a while. They have 60 percent of GDP in that area. There is no there is no ring ring for the U .S. The ring ring. They don't call anybody overseas. The ring ring is, hey, Fed, start printing again. And when you say when they have to do that again, whenever that is, because they're going to have to do that again. Yeah, then that's why it gets much more into an Argentina like dynamic. And as I've said, Argentina with U .S. characteristics, not Japan is what is going to be the outcome. I was out in Argentina recently, was it three or four months ago, Danny? And I made a documentary while I was there about inflation. And one of the interesting things about being in Argentina is if you're certainly in the middle class, you have access to dollar products, whether it's cash dollars or digital dollars or crypto dollars or U .S. equities or U .S. bonds, you have access to dollars to mitigate against inflation. And most people just get rid of their peso and get some kind of dollar products as soon as possible. But if if you're an American, there is there is no equivalent. I mean, yes, there's gold and yes, there's Bitcoin. And, you know, we've seen this rise in both gold and Bitcoin recently. Perhaps that's it. I mean, is that it? The short answer is yes. You know, you can kind of see right who is who has won over the last 10, 20 years in the U .S., right? It's if you if you own a lot of stocks, you're doing great.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1429: Bitcoin $220,000 (Short Term) In Play - Max Keiser
"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. In today's show, I'll be breaking down the latest Bitcoin technical analysis and quoting the high priest of Bitcoin, Max Keiser. For world peace, let's have a day of Bitcoin. All the troubles you see, all the wars and hatred are caused by fiat money and central bankers. Bitcoin fixes this. Martyring yourself for fiat money is foolish. Get right with Satoshi and perfect money. Bitcoin preach. Also in today's show, long -term hodlers buy 1 .35 billion dollars worth BTC as the whales continue stacking. Also breaking news, Japanese yen -backed digital currency DCJPY to go live in July 2024. Also breaking news, Caroline Ellison's testimony shared that SBF bribed Chinese officials for 150 million dollars to unfreeze funds using Thai prostitutes. Not only that, but Caroline and Bankman freed conspired to keep Bitcoin under $20 ,000 by selling customer BTC. We'll also be breaking down USDR stablecoin, dpegs to $0 .53, as well as ARK's amended spot Bitcoin ETF filing is a good sign of future approval. I'm also going to be sharing with you Max Keiser's short -term price prediction for Bitcoin of $220 ,000 and quoting him here from a recent speech he gave at Pacific Bitcoin Conference. If you want to live in America, move to El Salvador. If you want the Constitution, a Bill of Rights, move to El Salvador. If you want to feel freedom of expression, move to El Salvador. That's the America. The Statue of Liberty is now a volcano and it's on the tropics and it's a guy named President Pukele running the joint and I suggest everyone who is feeling downtrodden and persecuted and not able to be who they really want to be to get the heck out of this ish hole and move to El Salvador, that's my recommendation to you. 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 cryptonewsalerts .net. Welcome everyone, this is podcast episode number 1429. I'm your host JV and today is October 12, 2023. Let's kick off today's show as we do each and every day with our market watch. Make sure to say hello in the live chat and at the end of the show I'll give everyone a shout out. How's that sound? As you can see here Bitcoin and all the major cryptos currently correcting and in the red and as you can see on coin market cap, the market cap is barely sitting above that 1 trillion dollar milestone which we have been at for quite some time. It's been pretty stagnant and the 24 hour volume is just above 24 billion with Bitcoin dominance at 49 .9 % and the Ether dominance at 17 .8 % and checking out the top 100 crypto gainers the past 24 hours. Loom is leading the pack up 13 % trading at 21 cents followed by FXS of 5 % trading at $5 .69 followed by Gala at roughly 4 % trading just under looks like or I'm sorry just above 1 .3 cents and checking out the top 100 crypto gainers of the past week you can see it's a mixture of gainers and losers with some of the top losers being Roon and RLB and the top gainer here FXS up over 5 % on the week and checking out the crypto greed and fear index we're currently rated a 45 in fear yesterday a 47 last week a 48 and last month a 30 in fear so there you have it fam how many of you are currently bullish on the king crypto and how many of you been taking advantage of this dip let me know put a BTFD in the comments right down below and where my long -term hodlers that make some noise don't be a stranger yeah I mean and with that being shared now let's dive into today's Bitcoin technical analysis and specifically check out the technicals according to trading view so we could switch it up a bit as you can see here we got Bitcoin currently sitting just above twenty six thousand six hundred dollars down point seven eight percent on the day now if we look at some of the technicals on the one day you can currently see there's literally 14 cell signals you got ten neutral signals and only two by signals now as we can see as far as oscillators are concerned there's one by signal one cell signal and nine which are neutral and when it comes to moving averages and those cell signals there's literally 13 of them right now with one neutral and only one by the one by for the moving average is the simple moving average and I mean that's pretty wild to say the least 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 I want to discuss really quick a Bitcoin day max Kaiser came up with the idea to celebrate peace around the world especially with all the conflicts and the wars popping out you know left and right and I thought it was a great idea so I proposed this Bitcoin day be celebrated on 11 11 as 11 is a very special omen and a very significant when it comes to numerology 11 11 so here's what I had to share in response to what max shared so max's idea for world peace let's have a day of Bitcoin all the troubles you see all the wars and hatred are caused by fiat money and central bankers Bitcoin fixes this martyring yourself for fiat money is foolish get right with Satoshi and perfect money here was my response I wrote this last night I channeling the spirit of Satoshi declare 11 11 the official Bitcoin day moving forward which shall be celebrated globally Bitcoin equals peace and love Bitcoin the network and Bitcoin perfect money heals the world Bitcoin fixes things major problems such as war inflation poverty corruption famine enslavement and depopulation and that's just the tip of the iceberg or the melting ice cube as a cyber hornet named sailor once described fiat currency and also was the first to put Bitcoin on the balance sheet of a publicly traded company called micro strategy a high priest named max Kaiser along with a fairy godmother named Stacy Herbert introduced Bitcoin to the global stage in 2011 through the first international TV coverage of Bitcoin via the Kaiser report calling Bitcoin the biggest story of this decade as well as coining the phrase Bitcoin is the currency of the resistance and in 2021 president Bukele adopted Bitcoin as legal tender in El Salvador liberating his people and country from fiat money priests and corruption of IMF and central banking cartels as a direct result of adopting Bitcoin as a legal tender Bukele transformed his country El Salvador from the most dangerous with the highest murder rate to now the safest in the Americas with the lowest murder rate now as Bitcoin game theory continues which countries will be next to liberate themselves from their fiat overlords let me know your thoughts in the comments below Bitcoin and the power of the centralization is changing the world putting the power back in the hands of the people 11 11 Bitcoin day so there you have it fam let me know your thoughts on celebrating peace around the world on Bitcoin day come 11 11 which is November 11th literally about a month out let me know if you want to celebrate with me and let's go change the world shall we and with that being shared fam and I'm anxious to read your comments regarding Bitcoin day now let's dive into our next story of the day and discuss the whales continue to huddle follow the smart money they say 1 .3 billion dollars being huddled by long -term buyers let's break this down a new report from glass note an on -chain analytical firm shared that Bitcoin huddlers are adding to their holdings these long -term Bitcoin investors as we know as huddlers don't appear to be phased by the recent volatility damn right according to on -chain data long -term huddlers have been rapidly amassing BTC adding more than 50 ,000 Bitcoin each month to their holdings and now a Bitcoin currently showing signs of slowing down as we're around that $27 ,000 level it seems that most the blame is for the persistent selling pressure as data shows whale investors seeing this opportunity to buy more BTC at a discount rather than to secure profits and according to glass notes huddle or net position change metric the long -term huddlers are purchasing an average of 50 ,000 BTC worth 1 .3 billion dollars at the current price every single month let that sink in fam another metric which is the long term huddler supply which measures the amount of the Bitcoin market cap and huddlers also reached an all -time high of fourteen point eight nine or five nine million BTC this means that seventy six percent of the total circulating supply has not moved in the past five months so congratulations all you long -term huddlers with the diamond hands consequently a roughly ninety five percent of the total Bitcoin supply has not moved in the past month that's freaking fantastic definitely a bullish indicator and to back up this data of increased accumulation we also have crypto analyst Ali Martinez sharing a chart from sentiment showing the whales purchasing around 20 ,000 Bitcoin since the beginning of October worth currently roughly five hundred and fifty million dollars so at this rate the number of Bitcoin vaulted by huddlers is poised to pass 50 ,000 Bitcoin in October this increased accumulation suggests that the long -term huddlers remain confident and bitcoins long -term potential and see this price correction as temporary so there you have it fam let me know if you agree or disagree and according to glass note only eleven and a half percent of the Bitcoin circulating supply change hands in the last three months indicating a prolonged and active period of on -chain activity that there are fewer transactions suggesting investors aren't willing to sell at the current price as the industry awaits the approval of spot Bitcoin ETFs send it and let's go as you all know we've been waiting on this for quite some time in 2024 we're gonna get two of the most bullish catalyst you could anticipate and that's the Bitcoin having scheduled to take place in April 2024 roughly six months out along with the approval of a spot Bitcoin ETF in the United States ushering trillions of dollars of that total addressable market into Bitcoin which will absolutely send Bitcoin to price discovery mode entering new all -time highs and that's right around the corner hence why the smart money continues to accumulate and with that being shared fam now let's break down our next breaking story of the day the Japanese yen back digital currency DC JP why to go live July 2024 that's right October 12th digital currency and electronic payments firm the current holdings published a white paper on its crypto project the DC JP why the organization intends to launch this coin July of 2024 right after the having and according to the white paper the DC JP why network will consist of the financial zone and the business zone the former will include banks minting deposit as digital currency on the blockchain a sign of the times right fam while the latter will be reserved for transactions the business zone will also provide space for issuing non fungible security and governance token now the leading issuer of DC JP why will be backed by deposits in the Japanese yen and it will be a Zora Bank a commercial entity with 19 domestic branches in Japan now in 2021 the current reported about a consortium of 70 Japanese companies that would participate in the DC JP why network and while the white paper doesn't mention any specific names of the network participants the current itself is backed by 35 shareholding companies with Japan post bank Mitsubishi and Dentsu group amongst them now the current will hold the seminar seminar in the white paper explaining the main points behind the project October 18th which is roughly next week this meeting will take place in Tokyo and won't be screened online now in May of this year the Bank of Japan released the results of the second phase of its central bank digital currency experiment that's right we know CBDCs it'll make a final decision on issuing a digital yen by 2026 so we all know it's coming through the pipeline fam right meanwhile Binance and Mitsubishi and UFJ trusts and banking corporations are exploring the issuance of Japanese yen and other foreign currency denominated stable coins in the country so there you have it pretty interesting to say the least a Japanese yen backed digital currency can you could you fathom a United States backed currency by Bitcoin because that's what RFK jr. is trying to do anyways fam now let's break down our next story of the day and discuss the latest of what's happening with Sam Bankman freed and Caroline Ellison and the ongoing saga cuz this you got to see it to believe it check this out fam Caroline Ellison and Sam Bankman freed conspire to keep Bitcoin under 20 ,000 by selling customer BTC yeah that's right I mean you can't make this stuff up so did they really do this let's discuss it as you know Bitcoin failed to hit $100 ,000 during the 2021 bull market because defunct exchange FTX kept selling Bitcoin analysis claims and in an ex post Joe Burnett a senior product marketing manager at Bitcoin financial services firm Unchained joined voices arguing that FTX execs suppress the Bitcoin price strength I agree with this theory a hundred percent and I also feel Bitcoin could have likely hit a hundred thousand during that bull run but some shady mofos clearly enemies Bitcoin so as the trial of the former FTX CEO SPF continues new testimony paints the picture of market manipulation that's right Caroline Ellison this week the former CEO of affiliated firm Alameda Research reportedly told the court that SPF asked her to sell Bitcoin should the spot price breach $20 ,000 this was done using FTX customer funds which neither had the right to deploy now this brings in a question in my mind who instructed or ordered Sam Bankman free to dump all the Bitcoin coming in on the exchange once the price surpassed $20 ,000 could it have been collusion with unethical regulators like the chairman of the SEC Gary Gensler isn't that a great question what's your thoughts fam let me know in the comments right down below but wait there's more check it out reacting Burnett suggests that due to the scale of the operations involved the entire Bitcoin bull run could have been adversely affected quitting him here Alameda was insolvent even during the bull market it appears they used or borrowed FTX customer Bitcoin and other customer assets to buy Sam coins better known as FTT Solana and serum he wrote referring to reports that Ellison's firm had a negative value of 2 .7 billion dollars in 2021 quitting him here without this fake cell pressure maybe Bitcoin would have hit a hundred thousand dollars in 2021 what's your thoughts chat let me know and in the event Bitcoin still reached the all -time high of 69 ,000 in November but at the time predictions called for much larger numbers amongst those were the now popular stock the flow Bitcoin price model with Plan B is the anonymous creator of given a price target a Bitcoin hitting up to 288 ,000 during the current halving cycle the worst -case scenario he continued was 135 ,000 by December of 2021 and I'm sure you remember this infamous tweet shared June 20th 2021 he wrote Bitcoin is below 34 ,000 triggered by Elon's energy FUD in China's mining crackdown there's also a more fundamental reason that we see weakness in June and possibly July my worst -case scenario for 2021 according to the price on chain base is August greater than 47 ,000 September 43 ,000 October 63 ,000 November 98 ,000 in December greater than a hundred and thirty five thousand dollars per coin and as doge Cuban shared here I can't stop thinking about an alternate timeline where SPF is president of the United States which Caroline also revealed he had aspirations to become the president Bitcoin hitting a hundred thousand FTX token flipping BTC meat is illegal and the US and Nexus the Bahamas and all women above a three get deported Adam back wrote so that sounds to me more like SPF needs USD liquidity sell BTC but don't sell below 20 ,000 and not try to keep Bitcoin under 20 ,000 an example below 20 ,000 is ridiculously cheap weight or higher so there you have it fam and I mean again he's being she pointed out that he tried to bribe a Chinese official with a hundred and fifty million dollars to unfreeze his billion dollar fund and that he was using Thai prostitutes to do so I mean things just keep getting more and more interesting and the obviously the trial is going to continue but that is the gist of it it's just quite interesting to say the least and with that being shared fam now let's break down our next breaking story of the day and I wanted to throw this in here USD our stable coin has d peg from the dollar currently trading at 53 cents I'm just gonna share a little insights from here the real estate back stable coin USD are how many of you have heard of this let me know lost his peg to the US dollar after Russia redemptions caused the draining of liquid assets such as da I which is the stable coin on the etherium network from its Treasury its project team had revealed us dr backed by a mixture of cryptos and real estate holdings is issued by tangible protocol a decentralized finance project that seeks to tokenize housing and other real -world assets us dr is mostly traded on the pearl decentralized exchange which runs on polygon in the October 11 tweet explained tangible that over a short period of time all the liquid die from their us dr Treasury was redeemed leading to an accelerated drawdown of their market cap as quoting them here combined with the lack of die for redemption's panic selling ensued causing a deep egg so us dr experienced a flood of selling at around 11 30 a .m.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 09-28-2023 07:00
"Do you need a better way to respond to FAQs so your staff doesn't go crazy answering the same questions over and over and over again? Vonage does that. With the ability to have AI -powered conversations in over 100 languages, Vonage virtual assistants can instantly connect to your contact center and answer calls, providing answers any time of day. Your live agents can be free for more complex cases. Learn more about the benefits of conversational AI and see everything Vonage can do for your business at Vonage .com. It's too early? I think you have to be very valuation sensitive in this market. Buying duration in here, we're about to start swimming downstream again. I don't think that you're going to re -enter a bear market in equities. I think there's a lot getting built in that's momentum right now. This is Bloomberg Surveillance with Tom Kean, Jonathan Farrow and Lisa Abramowitz. So much feedback on Dan Ives's shirt this morning, live from New York City. 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 equity market just turning positive at the close yesterday. It continues this morning. In the last one hour or so, we're up by 0 .1 % on the S &P. Elsewhere, new cycle highs in the bond market on a 10 -year, on a 30 -year. $95 crude briefly on WTI. And in the past day or so, Tom, we've got DXY highs we haven't seen for at least 12 months. It's good to go to DXY. Blended major trading currency about 54 % Euro, 106 level, unimaginable 90 days ago. John, I just would really emphasize on a Thursday with massive economic data at 8 .30. What I would emphasize, it's an equity market with a VIX of 18 .18 removed from the turmoil in bonds in FX. Big turmoil. I'd put it that way, Tom, and I'm with you. Away from equities. We've talked about this already this morning. Worth going over again, Brahmo. Stocks have been a bit of a snooze. 7 % move. Yes, it's sizable. It's noteworthy, but based on what you're seeing in treasuries, you already haven't seen for 15.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 09-27-2023 07:00
"Do you need to communicate and collaborate from anywhere? Vonage does that. With one streamlined app you get full features that work on desktop or mobile wherever you go. Join video meetings and calls, respond to messages, and work from home, in the office, or on the road. You can even capture conversations on the go because the Vonage mobile app can integrate with your CRM. Now your small business can communicate like a big enterprise. See more of what Vonage can do for a lot of the stock market. There's some recognition by the Fed that if you tighten financial conditions much more you're going to do real damage to the economy. The Fed might hold here for a while but it's very difficult to see why they'd want to go a lot higher from here. Fed's retaining its optionality it's not saying we're definitively moving higher and it's certainly not saying seven percent. It's just hard to see what the positive catalyst is for markets today. This is Bloomberg Surveillance with Tom Kean, Jonathan Ferro, and Lisa Abramowitz. Pouring freezing cold water over this summer's happy talk. Live from New York City this morning. Good morning, good morning. This is Bloomberg Surveillance on TV and radio alongside Tom Kean and Lisa Abramowitz. I'm Jonathan Ferro. Your equity market is trying to bounce up by a third of one percent on the S &P. Yesterday at the close the lowest since June on the S &P on Nasdaq this morning. Tom in the FX market, the Euro 105, Dolly Yen pushing 150. Those are the major pairs but you can look at all the granularity of the foreign exchange market and see the trauma that's out there. It's not a soft landing, it's a abruptness here and the adverb I'm using is suddenly there's all sorts of suddenly. Kawa, you weren't here. Luke Kawa of UBS. What did Luke say? Luke nailed it. He said he went all Newtonian on us on Monday. He's talking first derivative, second derivative and the second derivative the accelerated force is in place on this Wednesday. At some point Lisa this treasury market sell -off becomes self -limiting because of the pain it inflicts elsewhere.
Tech Path Crypto
A highlight from 1248. Coinbase Stablecoin Master Plan Revealed!
"All right you guys don't want to miss this one. It is gonna be breaking down what is in store for stablecoins but also what is happening on more of a global footprint. There's a lot of things happening around the G20 that may have some influence on the crypto markets I think in a long -term scenario and we're gonna break all that down for you today. I think you'll like it. My name is Paul and this is the topic of an alternative stablecoin and what that might look like. This was FX Street kind of coming in on CEO Brian Armstrong talking about stablecoin hot take. This is the whole idea around flatcoin. He mentioned this I'll show you the video here in a second but basically he told Yahoo Finance basically in an interview that the next iteration of stablecoins, flatcoin, is on the horizon for the exchange. Now the point is will and are exchanges like Coinbase really going to focus in on this? And one of the things that I think is interesting here is the fact that we're seeing Coinbase move in this direction almost in unison and lockstep with what's happening in DC. And a lot happening this month most likely we'll have a house vote on stablecoins and it's very possible we could get some regulatory clarity. So I think they are queuing up for it. I want to say they meaning Coinbase queuing up for it. Remember they recently listed that they were doing and or going to list PayPal stablecoin on the exchange as well. So the idea behind these flatcoins is kind of interesting. There was a video here on this. Let me just jump over here to this video real quick. And this is where he kind of breaks it down but listen in to what he had to say. And so what would it look like to have a better form of money in the crypto space? Well it'd be something that's decentralized and maybe tracks CPI. So CPI is the consumer pricing index. It essentially has a basket of goods underlying it. Things that people spend their money on. You know a place to live, transportation, commodities like you know food and energy and wheat and you know copper things like that. And so we actually that is a good property of money. We want our money to preserve its purchasing power. All right so I'm gonna stop it there. Want our money to preserve purchasing power and the idea around tracking this against things like the consumer price index which is highly connected to inflation in general. And I think you know there are some interesting scenarios that maybe play into this for what they're trying to do. And I and I would agree with what Brian is talking about. Now remember this video that he just did was the ideas that they were trying to get behind. These are the ideas that they feel should be in the marketplace and would support. And they had a whole line list of ten different great ideas that you know Coinbase didn't have time to build everything. So it's something that I think a lot of markets are now starting to understand maybe how this connects to more of a global aspect. A couple other points you know to kind of hit within this. Coinbase CEO Brian Armstrong also said the company is working on the next generation version of Stablecoin and that there may be a new SEC chair by 2024. So he's definitely maybe maybe either that's wishful thinking or you know something else. But they're also talking about donating to a presidential candidate who supports cryptocurrency. I think right now with Ramaswamy he's probably the one that most likely will be maybe a candidate that could go in that direction along with RFK juniors. So there's there's some interesting political scenarios playing into that. And when you think about political you know and how that plays into it you have to look on the global scale of things. But I look at Coinbase also just in their current size because Coinbase I think is one of those you know kind of the tail that wags the dog kind of companies. And if you look at just where they are currently there's just your recent data. This is their Coinbase revenue and usage stats for 2023. There's a lot here. I mean first of all Coinbase expecting to get revenue around 7 .3 billion in 2023 which is a significant increase of 2 billion just in Q2 of 2021. That's a very big jump in a market in which has been almost a full bear market since 2021. So that's a big deal. Also in terms of user stats let me kind of zoom in on that for you guys projected to have around 150 million verified users by the end of 23. Now the reason I think that's important is when you look at what happened with PayPal we talked about this if you haven't watched our PayPal video go check it out because PayPal has around 450 million users another 50 million Venmo users. So 500 half a billion people but only a small fraction of that might use the PayPal stablecoin versus if you look at Coinbase projecting 150 million verified users by the end of 2023. That is a much more captivated audience because I would say for anybody that's on Coinbase most likely you're probably talking in excess of 50 to 60 percent that are holding stablecoins and especially right now where Coinbase is rewarding USDC holding with a high percentage of yield interest that's being paid. So when you think about that the size of the market then all of the implications that rolls into the global spec of things and then the size of Coinbase themselves and the number, remember they're a global company and they're growing and continuing to grow outside the US, could become very interesting for what is going to happen around the stablecoin market. Another factor that you might want to look at is what's happening with the European Central Bank this week ahead of the ECB taking center stage as the euro is obviously dealing with some challenges here. A couple of things I wanted to look at. Problem for the euro is interest rate differentials even though the Fed is expected to hold rates steady later this month and the ECB is expected to squeeze in another hike when it meets on Thursday next week. The interest rate differential between the German and the US one -year bond or yield is around 1 .8 percent. This is a problem for the future of what is happening in the European Union and I think this is also playing out globally. Now why is this interesting or important around stablecoins? Because if stablecoins start to become a regulatory product and become very active within the financial system we're gonna start seeing a lot of countries adopting the use case for stablecoins which will only cause massive growth. Now you look at other major Western countries. Let's take a look at Canada.
CoinDesk Podcast Network
"fx" Discussed on CoinDesk Podcast Network
"For better or for worse in certain times, we have a very stable banking system, all of that stuff. And we've seen nation states be able to sort of vote with their dollars where they want to hold their reserves. But we've never given people the ability to vote with their dollars where they want to hold their reserves. And people have all the same diversification requirements and all the same diversification needs. We've just never created the ability to scale all the way down to things like that. We have sort of this hack to simplicity of just that, you use the US dollar for everything. There's been a bunch of geopolitical reasons why that's happened. And now we have sort of a way to cut through that simplicity. And if you want to settle a commodities transaction directly in CAD, if it's Japan and Canada, there's no reason to necessarily use sort of that US dollar nexus. It basically takes off those artificial reasons why you need to use one of those larger global currencies and gives you the ability to transact and hold whatever you want. And certain currencies like CAD that have, despite those sort of restrictions, shown extreme growth globally over the last 25 years, I think is going to be a huge catalyst for use of that currency globally. Oh, interesting. I think I would be remiss at wearing my now my CCI hat if I didn't say that we are seeing regulators all around the world really get pretty concrete about stable coins specifically, in part because they're recognizing that maybe they are a quietly important currency, or in the case of the euro, they're, you know, loudly important. I know the opposite is like a loudly important currency, you know, or in the case of the US dollar, a very brash and jingoistic, you know, important currency, I mean, whatever it is. But we're seeing, you know, between Mika, between what Singapore is doing with the MAS, the JFSA, you know, even here in the US Congress, although we'll see how those efforts play out. I've said before that I actually think the single most important thing the US could do if the concern is really about US dollar dominance, a single most important thing I think the US could do is actually get concrete about stable coin rules at a federal level, you know, sooner rather than later, we'll see if that actually plays out. We'll see how other kinds of factors that in the US political environment affect that. I'm gonna have to wrap us soon, Alex, anything else that you wanted to kind of spotlight about, about this? And thanks for your time today. Yeah, I mean, it's been sort of a no brainer for a while that, you know, FX is the most liquid market in the world, blockchains can settle instantly, like why don't cross border payments work on blockchain remittances are sort of like a joke word in the blockchain industry. It's so cool to sort of see all of this fabric slowly coming together. And it really is just sort of that that last UX layer of just making it a complete no brainer for somebody. And we're so close to doing all of this stuff, and really helping exactly what you said the democratization of finance, and the democratization of payments, taking back a bunch of control for the people who need and deserve it the most. Yeah, well, you got to build a foundation brick by brick before you paint the wall, right? And to me, painting the wall offering those color choices is some of what UX is about. But we are getting those bricks as bricks are in place. They've been in many cases, stress tested in other jurisdictions outside the United States simply because of the regulatory welcoming or familiarity that regulators have outside the United States. Nevertheless, the US is benefiting from all of those examples and learning a lot. But US builders are learning a lot also, of how to bring things that have already successful in other places. Going back to the beginning of our chat today, spot ETF, right? Like been in Canada for a while, kind of boring now. A lot of lessons learned here in the United States about what that might look like and how to proceed with kind of getting those through the Securities Exchange Commission here. So yeah, lots more to come. I think every time we see these bricks start to get more concrete, they're building together. They're really building, I think, this bridge that's hopefully going to, to our points today, collapse some of that big divide that exists between the very, very, very wealthy who, A, can take on certain kinds of risks because they can hedge against them. They know what that means, but also have access to certain kinds of interfaces that make that easier. And regular people who are more than capable of understanding and comprehending what those risks are, but have just been waiting for a form factor that actually works for them and given so many examples today. So thank you, Alex McDougall, CEO of Stablecourt, for joining us on Money Reimagined. And to all of you who are listening, please join us again next week for another episode. Thanks. Thanks for listening.
CoinDesk Podcast Network
"fx" Discussed on CoinDesk Podcast Network
"But so really around sort of disclosure, attestations, like all of these pieces that really give you comfort that this is a digital representation of a dollar that sits in a financial institution. A lot more disclosures, terms of service, like all of those pieces. That's sort of our job as issuers is to create those digital representation. And then it's really up to us as an industry to recreate the TradFi infrastructure, where we still need to manage settlement risk. We still need to have efficient exchanges. We still need to figure out how DEXs work and all of this, play that international effects game. And last point I'll make, managing the integration back with the last mile payment rails, I think is where this really meets the road. When you can do international on-chain FX and then load up a prepaid MasterCard and buy my daiquiri in Vegas and only pay five basis points for the FX, that's when you really have something there. Lauren Ruffin I think a lot of times when we talk about things like an FX market, immediately people leap to, well, this is going to really benefit highly sophisticated trader, to your point. The ones that already actually have kind of a monopoly on the arbitrage opportunity, to put it kind of bluntly. But to your point, this really is something that everyday consumers who are just going across the border and engaging in transaction could benefit from. In last week's episode, Michael and I, I was ranting about my laptop and Google and whatnot. So for those who haven't checked it out, it's a relatively entertaining episode from what I'm told. But I was saying that we have all of this capture. And really what that's based around is this idea that tech is too complicated for lay people to understand. Similarly, in finance, we have this concept that certain kinds of actions or activities or transactions are just too sophisticated or too complicated for folks to understand when the reality is it's just about how much money you have. And if you have enough money, it's actually quite easy to do a lot of these things because you have access to certain kinds of interfaces or certain kinds of opportunities that you just don't have if you're at a retail level, which strictly is defined by how much money you have and what architecture you find yourself in. And what I love about the example you just gave is that you're collapsing, not just the complexity of it, you're collapsing the delta of the opportunity interface. So you're saying an average person who's not engaging in a multiple really high value transaction here can take advantage of the same kinds of opportunities that these multimillion billion dollar sophisticated kinds of actors can do. And so the sophistication myth is something I've always found very troubling about finance. Love it. And I love the capture idea as well of we are captured by what bracket we're in right now. And you get less captured, the more sizable you can go and sort of the lower end of the infrastructure that you go and pushes it all the way to the edge. Yes. But the challenge is building that UX infra because I do believe that people shouldn't need to know how Uniswap concentrated liquidity works in order to pay their tuition in Canada. Building that UX infra on top is really hard to do and has been a challenge of the industry for quite a while. You said collapsing and I think that's a very good way to think about it. Yeah. Well, also you shouldn't have to be a billionaire to make money. You shouldn't have to write the prerequisite of wealth. Just insert rant that I've done before on the show about accredited investors and my own rant there. One quick point to add on that, Sheila, and I think this is even just the core functionality of DEXs in this point is you can now make money on other people trading FX by putting up liquidity to centralize exchanges. And the other kind of innovation that is traditionally reserved for more sophisticated visas is building in hedges. So with sort of the composable nature of blockchain, you can almost create like a CAD wrapped US dollar. So you can go and access US dollar denominated investments or payments or things like that, but always have it represented in CAD dollars. That's so impossible to do in traditional finance. You just open up all of this blue ocean of creativity for solving problems around the world when you have this brand new infrastructure to be able to play with. Yeah. And we talk about democratizing finance as being one of the goals in crypto and digital assets, and here's a great example. Again, it's about having people understand that sophistication is not so much about your mental or intellectual capacity. It's about the financial architecture you are wealthy enough to opt into. And you can recreate that to your point. It doesn't have to be something that's exclusively the provenance of people who are pre-wealthy to gain those kinds of opportunities. I also love, there's this concept you have in here, this phrase you use that I loved of quietly important currencies. I loved that because a lot of the attention in markets is focused on, you know, the dollar, the yen, the pound, the euro, and for very good reasons. I mean, those are the dominant kind of currencies that are providing stability in the economy. But there was a whole next tier of these, as you call them, quietly important currencies. It's a great phrase. Let me talk about that a little bit. Yeah. Yeah, absolutely. Well, and obviously, I'm talking my own book in CAD here. But it's the highest growth international reserve currency in the last 25 years. It's gone from basically zero to 2.5% of the global reserves. It is the second largest currency outside of the big four, but there wasn't currencies outside of the big four. It's only just behind the Chinese yuan. You've seen that in one, obviously, Canada is a big commodities player, and there is some value in direct transactions with Canadian currency. But you've also seen it in sort of a proliferation of alternate political views on sort of how the geopolitical situation works. Canada is a pretty soft power democracy.
CoinDesk Podcast Network
"fx" Discussed on CoinDesk Podcast Network
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to Money Reimagined. I'm Sheila Warren. I'm solo today, but a reminder you can listen to us weekly and you'll catch me and Michael next week on the Coindesk Podcast Network or wherever you get your podcasts. And we'd love to hear from you. Tell us what you think by emailing us at podcasts at coindesk.com, subject line Money Reimagined. It's a big news day, as every day is here in the crypto universe. Today, we woke up to the news that a U.S. court ordered the SEC to vacate its rejection of Grayscale's bid to convert its Bitcoin trust into an ETF. Now, we're not going to get technical about what this exactly means. We'll have an episode on the SEC coming up in a couple of weeks. But the point here is that the U.S. may be about to get its very first spot Bitcoin ETF. And this is a big deal. It's a big deal in part because other countries are way ahead of us on this, as they are in many other areas that involve crypto and crypto regulation. But the door is now open for a spot Bitcoin ETF in the United States. Advocates have argued for a long time that this particular type of product would enable a bigger swath of the public to invest in Bitcoin without having to go through the hassle, which it still is a hassle to this day, unfortunately, of buying it directly or of dealing with potential issues like picking the wrong custody provider who may not survive, as an example. The SEC has systematically disapproved every single ETF application it's gotten to date. But a new swath of applicants we expect to burst in and try to get into this market. I'm joined today by our guest, Alex McDougall, who is the CEO of Stable Corp, which is a Canadian-based company that's created the Canadian dollar-backed Stablecoin, the first one on the market. But Alex, I'd love to bring you in today to just chat quickly. You're Canadian and you're HQ'd in Canada. And of course, Canada has had an ETF for quite a long time. In fact, as I recall, we actually had 3IQ CEO Fred on, I'm looking this up, two years ago now. So two years ago, Canada already had Bitcoin ETFs on the market. How has that developed over course of time? And what do you make of the fact that we are so into the game here in the US, but finally on the scoreboard? Absolutely. Sheila, thanks a ton for having me. Really appreciate it. I'm always a big fan of the pod. It's such an interesting kind of history repeats itself, right? And especially now that today is not an announcement of a Bitcoin ETF. It's an announcement of a potential undoing of a bad announcement that was a roadblock to potential ETF, circle, circle, circle. And that's not actually that dissimilar from how the Canadian ETFs came about. And you'd mentioned Fred Pye and 3IQ, and they actually fought a landmark battle with maybe more of a collaborative Canadian battle. Yes, a mediated battle. A friendly battle. A light arm wrestle. Yes, there it is. With the Ontario Securities Commission back in 2019, around their closed-end fund, which was sort of a more public version of the Grayscale Bitcoin Trust traded on the TSX. But they ended up having to go to court and effectively challenge the ruling and have their day in court. And it forced the discussion of why this was or was not in the best public interest. And ultimately, 3IQ won. The arguments that the regulator put forth weren't necessarily accepted, and 3IQ got to launch their product. And it was really the ETFs that came about on the heels of that almost two years later. But that was actually one of the things that caused the Grayscale NAV discount in the first place when there was a way to get out of these at par. And so I feel like that whole sort of launch of the publicly traded funds has been lost to the sands of time a little bit in Canada. And we've been chugging along for years with our spot ETFs. And it's really interesting to see the evolution of just how highly leveraged this type of news is. I mean, you saw the reaction in the price, the reaction in the Grayscale discount, the reaction in Coinbase stock, from just these tiny little bits of news that sort of drip out. And you can tell how important this is to the market. Definitely. I was joking with someone the other day that if you were to make sports analogies and compare countries, other countries, almost every other country, it's kind of like big point totals. It's low point totals, but like big point moves, right? So it's more like American football. You get a line here in the U S it's like basketball. It's like just two points, two points, two points, two points. Right. And it's just like a constant flood of news, all of which is like moving incrementally, incrementally, incrementally, you know, and it's so exhausting. Like, uh, like soccer where each two points is covered, like the most defining thing. Yeah, there it is. Right. Exactly. Those two points are not moving at that because there's so many of them, you know, it goes back and forth and you don't really know who's going to win until the very end. Right. Whereas in other sports, it's like, you kind of have a sense around halftime of where it's going to go. So look, the excitement never ends. Um, this is definitely a very positive move today on behalf of Bitcoin, certainly. And again, to your point, you're seeing that in the market already, but also just in general, the idea of being able to offer products that are more geared towards consumers who don't have the ability or the desire or, you know, any, any sort of, um, whatever, whatever it might be for whatever reason, don't really want to engage directly with the asset, but want to have access to it. And so that of course is what these markets are about, but yeah. And I think so much of it is just, you know, we, we as digital asset folks spend so much time 10 years down the line in this like cryptopia of, you know, everybody's going to be on the same standard and we're going to have all this completely free money movement around the world. And so little time necessarily on sort of building the bridges to get there. And, um, you know, obviously the ETF is sort of wrapping a brand new type of asset and an old type of asset, but I think more, more so, and you see, you, you hear critics say that sometime, but more so it gives you sort of built-in access to traditional types of financial solutions, securities lending, collateralization, where you don't have to, you know, with existing custodians, it's all of those sort of bridge building techniques to where, you know, we can build out the user experience to where it's easy to hold, you know, native Bitcoin. And we have all of that stuff that's built down the line. It really is sort of a bridge backwards to bring people along as much as it is like, Oh, this is how Bitcoin is always going to be is, you know, this wrapped Bitcoin in ETF. It's super important. If the goal is adoption or engagement. I mean, this is one of the most dramatic moves that could be made forward here in the United States. And again, it's not as if we have to, we're not Yolo-ing it here. I mean, there are, you know, multiple years of not just in Canada, but certainly our neighbor to the North has been engaging in this product offering for some time, right. At a minimum two years now. So, uh, so we have a lot of kind of, uh, a trajectory of how this might play and how it might go into your point. It's now just kind of like ordinary boring offering in Canada. It's not like this. It's a Armageddon up there. Right. Right. So hopefully we will get to a place where this is also very normal and it's just another thing on the market and you can make your choices and you have a panoply of options, you know, as will be the case. Okay. So thanks for spending some time with me on that today, as usual, we don't always predict when these things happen, but it's so helpful to have you on the chat about this and typically the comparison with Canada, but let's shift gears into what we actually were intending to talk about today, uh, which is, so you recently wrote a post, uh, it's called the seven defining opportunities and on-chain FX. And Michael and I both found this actually very interesting. And maybe what I'll do is just have you, well, first of all, what I would love to have you do is just explain to our listeners, many of whom are not necessarily sophisticated financial actors, you know, what an FX market is, why it matters, and then your observation and maybe walk us through the general thesis of your, of this post, which we'll link to in the show notes. Amazing. Yeah, absolutely. And this really came about, uh, in, in collaboration with, you know, our partners at circle, uh, with Cumberland, um, who's, who's taken a very active position on, on non us dollar stable coins and Zodiac markets side, who's the exchange that's, that's run by standard charter. We started to talk about this a little bit more and more as, you know, some of the deeper seated challenges with stable coins and global flow of assets became more and more prevalent. I mean, you know, 60% of the global foreign reserves are in us dollars, you know, a number that's slowly, uh, the declining over time, you know, 99.9% of the, uh, the global stable coin dollars are denominated in us dollars. And there's this natural drift towards sort of a proliferation of currencies around, you know, even just the use cases of today within the digital asset land, let alone, you know, the use cases of the next billion users and a lot of this, you know, payments and international money movements and things like that. But the FX market is fascinating. It's sort of like the tectonic plates of financing and almost every transaction that you do has an FX transaction baked somewhere into it. And whether it's, you know, a derivative transaction, whether it's actually settled, whether it's through an intermediary, like, you know, buying a daiquiri in Vegas was as a Canadian, or it's, you know, these, these gigantic sort of OTC desks that are trading billions of dollars of Japanese yen for Canadian dollars or us dollars, you know, it traded seven and a half trillion dollars a day. It's one of the most liquid efficient price markets, but there's no central body and there's no exchange. There's no nicey for FX. It's all of these sort of mechanisms that have developed over hundreds and hundreds and hundreds of years. Um, that makes it this really fascinating centralized market, but we've sort of run into some places where it can no longer evolve with the state of current trend, traditional finance infrastructure. And so a lot of the points of this paper is, where do we run into walls? What have we sort of fake evolved in TradFi? And then where are we really looking? Like, what can we do with crypto? What can we do with instant settlement? How does sort of T plus zero or T plus instant really change the game? Um, and where doesn't it as well? So that's just as important as like, again, the Cryptopia side, um, how do we build bridges from today to get there? And that's really sort of the point of the paper. So foreign exchange markets, FX markets are already fairly efficient and they are to your point, one of the most liquid markets that exist in the world. Um, but the premise of your paper really is that even in such a market, you can still, there are still challenges that exist. There are still challenges in that market and that blockchain technology and things like Sablecoins can actually really address some of those challenges and make this already well-functioning market even more high functioning. So A, why is that desirable? Like, why is this an important problem? I guess we're just kind of out there. And second, what are those challenges and how specifically can digital assets and the kind of underlying technology that they're based upon help? Yeah, absolutely. FX is an extremely efficient market in terms of pricing. You know, people have been trying to arbitrage the FX market for years and years and years, and they're excellent at doing it on fractions of bits. So setting aside the opportunity and arbitrage as FX moves on chain, which is going to be generational, it's really efficient if you're actually accessing the core FX market. If you're one of the 70 international FX brokers who has access to the continuously linked settlement system, great. You're settling in as close to real-time as possible, which is another challenge. You're paying fractions of a bit. You're doing great. If, back to my example of me as a Canadian going down to Vegas, I'm not paying fractions of a bit when I tap my MasterCard, I'm paying 4%, 5%, 6%. And that's because it's so disintermediated and there's no connective fabric between that core underlying market and me as an actual consumer. Even when I'm paying cross-border payments to settle bills as a small business, I'm still paying 3% or 4% or 5%. And that gets even worse when you're looking at students coming to Canada to study abroad, trying to set up an international bank account, trying to fund tuition or things like that with wire payments. They're routinely looking in the 6%, 7%, or 8% plus wire fees, plus time to set up international KYC challenges. It's a very efficient market except for who it's not efficient for. And it's one of the most valuable markets in terms of fees in the entire world. And the second piece to that, even for those incredibly large, sophisticated global enterprises, they're still limited by the banking hours in each country. And so there's a chart in the paper that looks like the craziest Gantt chart you've ever seen, which is trying to map the overlaps of the Japanese banking system and New York and China and all of these different places. And if you want to send any kind of real-time payments, your window to trigger those is, it could be two in the morning. It really is challenging from that perspective. And the G20, and the last piece I'll say on this, the G20 identified this as a big problem two or three years ago with extending those banking hours being sort of the number one thing they were focused on. And then they came out with a report a couple of years later that it would take extreme costs and permanently elevated cost bases and a lot of infrastructure and basically threw their hands up and said, it's really challenging to extend our TGS. And that's some of those walls that we've run into today where it works. We've solved settlement risk to a certain extent, large organizations can get money around in two or three days potentially, but there's almost a blocker of further evolution. And that's really where blockchain settlement comes in, because it can be a rip and replace of all of this antiquated cross-border correspondent banking system with a digital wallet that can hold all of these currencies, a public blockchain that can settle and manage the swaps, and then a whole infrastructure of liquidity providers, exchanges, decentralized exchanges that sort of already exists out of the box to manage and replicate a lot of that. So let's talk about the role you see of stablecoin in FX markets in general, but also in real-time settlement, like all these different places that you kind of either alluded to or talked about directly. So, I mean, I think stablecoins or digital dollars or whatever, sort of the next generation of vernacular, that's where we're moving away from the stablecoin piece too. Is it stable? Is it a coin? And that's maybe a good place to start, right? Because we've sort of lumped stablecoins all in together with the algorithmic ones, the crypto collateralized ones, the fiat backed ones, the gold backed ones. And that's fine as we're creating a new experiment essentially, but now that we're ready for prime time with some of these instruments, then there needs to be sort of a separation between the experimental ones and the ones that are truly ready to evolve and reach this global scale. And I think oftentimes we've completely blown the marketing on stablecoins where we should have positioned it as this is a better version of PayPal. This is a FinTech evolution instead of, hey, this is a less crazy version of Bitcoin, which is kind of the middle ground that we're stuck in today. Don't get me wrong. There's a ton of interesting value in experimenting with new forms of money, new forms stability, new forms of decentralized governance for coins, all of that stuff. But there needs to be guard rails around that such that it doesn't go to 60 billion and then down to no billion, specifically to your points around where stablecoins sort of fit in all of this. They effectively give you the ability to leverage these brand new rails that can chop out the trillion dollars of friction costs that sits in our kind of international correspondent banking system today. And so it's our job as issuers and also the Web3 builders to create all this connected fabric. It's our job to make as little friction and risk as possible between a Canadian dollar that you're used to and that lives in a bank or on your debit card or whatever, and a digital representation of that dollar. And so the global regulatory environments, and this is one of the pieces we talk about in the paper of sort of this slow grinding consensus of monoculture on how regulation should fit there, which we're getting towards slowly. Again, it's a lot of those viewpoint layups. Europe's getting towards it fast. That's true. They're playing hockey. We're playing basketball.
CoinDesk Podcast Network
A highlight from MONEY REIMAGINED: US Court Challenges SEC, Fuels Financial Evolution & FX Market's Next Phase
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to Money Reimagined. I'm Sheila Warren. I'm solo today, but a reminder you can listen to us weekly and you'll catch me and Michael next week on the Coindesk Podcast Network or wherever you get your podcasts. And we'd love to hear from you. Tell us what you think by emailing us at podcasts at coindesk .com, subject line Money Reimagined. It's a big news day, as every day is here in the crypto universe. Today, we woke up to the news that a U .S. court ordered the SEC to vacate its rejection of Grayscale's bid to convert its Bitcoin trust into an ETF. Now, we're not going to get technical about what this exactly means. We'll have an episode on the SEC coming up in a couple of weeks. But the point here is that the U .S. may be about to get its very first spot Bitcoin ETF. And this is a big deal. It's a big deal in part because other countries are way ahead of us on this, as they are in many other areas that involve crypto and crypto regulation. But the door is now open for a spot Bitcoin ETF in the United States. Advocates have argued for a long time that this particular type of product would enable a bigger swath of the public to invest in Bitcoin without having to go through the hassle, which it still is a hassle to this day, unfortunately, of buying it directly or of dealing with potential issues like picking the wrong custody provider who may not survive, as an example. The SEC has systematically disapproved every single ETF application it's gotten to date. But a new swath of applicants we expect to burst in and try to get into this market. I'm joined today by our guest, Alex McDougall, who is the CEO of Stable Corp, which is a Canadian -based company that's created the Canadian dollar -backed Stablecoin, the first one on the market. But Alex, I'd love to bring you in today to just chat quickly. You're Canadian and you're HQ'd in Canada. And of course, Canada has had an ETF for quite a long time. In fact, as I recall, we actually had 3IQ CEO Fred on, I'm looking this up, two years ago now. So two years ago, Canada already had Bitcoin ETFs on the market. How has that developed over course of time? And what do you make of the fact that we are so into the game here in the US, but finally on the scoreboard? Absolutely. Sheila, thanks a ton for having me. Really appreciate it. I'm always a big fan of the pod. It's such an interesting kind of history repeats itself, right? And especially now that today is not an announcement of a Bitcoin ETF. It's an announcement of a potential undoing of a bad announcement that was a roadblock to potential ETF, circle, circle, circle. And that's not actually that dissimilar from how the Canadian ETFs came about. And you'd mentioned Fred Pye and 3IQ, and they actually fought a landmark battle with maybe more of a collaborative Canadian battle. Yes, a mediated battle. A friendly battle. A light arm wrestle. Yes, there it is. With the Ontario Securities Commission back in 2019, around their closed -end fund, which was sort of a more public version of the Grayscale Bitcoin Trust traded on the TSX. But they ended up having to go to court and effectively challenge the ruling and have their day in court. And it forced the discussion of why this was or was not in the best public interest. And ultimately, 3IQ won. The arguments that the regulator put forth weren't necessarily accepted, and 3IQ got to launch their product. And it was really the ETFs that came about on the heels of that almost two years later. But that was actually one of the things that caused the Grayscale NAV discount in the first place when there was a way to get out of these at par. And so I feel like that whole sort of launch of the publicly traded funds has been lost to the sands of time a little bit in Canada. And we've been chugging along for years with our spot ETFs. And it's really interesting to see the evolution of just how highly leveraged this type of news is. I mean, you saw the reaction in the price, the reaction in the Grayscale discount, the reaction in Coinbase stock, from just these tiny little bits of news that sort of drip out. And you can tell how important this is to the market. Definitely. I was joking with someone the other day that if you were to make sports analogies and compare countries, other countries, almost every other country, it's kind of like big point totals. It's low point totals, but like big point moves, right? So it's more like American football. You get a line in here the U S it's like basketball. It's like just two points, two points, two points, two points. Right. And it's just like a constant flood of news, all of which is like moving incrementally, incrementally, incrementally, you know, and it's so exhausting. Like, uh, like soccer where each two points is covered, like the most defining thing. Yeah, there it is. Right. Exactly. Those two points are not moving at that because there's so many of them, you know, it goes back and forth and you don't really know who's going to win until the very end. Right. Whereas in other sports, it's like, you kind of have a sense around halftime of where it's going to go. So look, the excitement never ends. Um, this is definitely a very positive move today on behalf of Bitcoin, certainly. And again, to your point, you're seeing that in the market already, but also just in general, the idea of being able to offer products that are more geared towards consumers who don't have the ability or the desire or, you know, any, any sort of, um, whatever, whatever it might be for whatever reason, don't really want to engage directly with the asset, but want to have access to it. And so that of course is what these markets are about, but yeah. And I think so much of it is just, you know, we, we as digital asset folks spend so much time 10 years down the line in this like cryptopia of, you know, everybody's going to be on the same standard and we're going to have all this completely free money movement around the world. And so little time necessarily on sort of building the bridges to get there. And, um, you know, obviously the ETF is sort of wrapping a brand new type of asset and an old type of asset, but I think more, more so, and you see, you, you hear critics say that sometime, but more so it gives you sort of built -in access to traditional types of financial solutions, securities lending, collateralization, where you don't have to, you know, with existing custodians, it's all of those sort of bridge building techniques to where, you know, we can build out the user experience to where it's easy to hold, you know, native Bitcoin. And we have all of that stuff that's built down the line. It really is sort of a bridge backwards to bring people along as much as it is like, Oh, this is how Bitcoin is always going to be is, you know, this wrapped Bitcoin in ETF. It's super important. If the goal is adoption or engagement. I mean, this is one of the most dramatic moves that could be made forward here in the United States. And again, it's not as if we have to, we're not Yolo -ing it here. I mean, there are, you know, multiple years of not just in Canada, but certainly our neighbor to the North has been engaging in this product offering for some time, right. At a minimum two years now. So, uh, so we have a lot of kind of, uh, a trajectory of how this might play and how it might go into your point. It's now just kind of like ordinary boring offering in Canada. It's not like this. It's a Armageddon up there. Right. Right. So hopefully we will get to a place where this is also very normal and it's just another thing on the market and you can make your choices and you have a panoply of options, you know, as will be the case. Okay. So thanks for spending some time with me on that today, as usual, we don't always predict when these things happen, but it's so helpful to have you on the chat about this and typically the comparison with Canada, but let's shift gears into what we actually were intending to talk about today, uh, which is, so you recently wrote a post, uh, it's called the seven defining opportunities and on -chain FX. And Michael and I both found this actually very interesting. And maybe what I'll do is just have you, well, first of all, what I would love to have you do is just explain to our listeners, many of whom are not necessarily sophisticated financial actors, you know, what an FX market is, why it matters, and then your observation and maybe walk us through the general thesis of your, of this post, which we'll link to in the show notes. Amazing. Yeah, absolutely. And this really came about, uh, in, in collaboration with, you know, our partners at circle, uh, with Cumberland, um, who's, who's taken a very active position on, on non us dollar stable coins and Zodiac markets side, who's the exchange that's, that's run by standard charter. We started to talk about this a little bit more and more as, you know, some of the deeper seated challenges with stable coins and global flow of assets became more and more prevalent. I mean, you know, 60 % of the global foreign reserves are in us dollars, you know, a number that's slowly, uh, the declining over time, you know, 99 .9 % of the, uh, the global stable coin dollars are denominated in us dollars. And there's this natural drift towards sort of a proliferation of currencies around, you know, even just the use cases of today within the digital asset land, let alone, you know, the use cases of the next billion users and a lot of this, you know, payments and international money movements and things like that. But the FX market is fascinating. It's sort of like the tectonic plates of financing and almost every transaction that you do has an FX transaction baked somewhere into it. And whether it's, you know, a derivative transaction, whether it's actually settled, whether it's through an intermediary, like, you know, buying a daiquiri in Vegas was as a Canadian, or it's, you know, these, these gigantic sort of OTC desks that are trading billions of dollars of Japanese yen for Canadian dollars or us dollars, you know, it traded seven and a half trillion dollars a day. It's one of the most liquid efficient price markets, but there's no central body and there's no exchange. There's no nicey for FX. It's all of these sort of mechanisms that have developed over hundreds and hundreds and hundreds of years. Um, that makes it this really fascinating centralized market, but we've sort of run into some places where it can no longer evolve with the state of current trend, traditional finance infrastructure. And so a lot of the points of this paper is, where do we run into walls? What have we sort of fake evolved in TradFi? And then where are we really looking? Like, what can we do with crypto? What can we do with instant settlement? How does sort of T plus zero or T plus instant really change the game? Um, and where doesn't it as well? So that's just as important as like, again, the Cryptopia side, um, how do we build bridges from today to get there? And that's really sort of the point of the paper. So foreign exchange markets, FX markets are already fairly efficient and they are to your point, one of the most liquid markets that exist in the world. Um, but the premise of your paper really is that even in such a market, you can still, there are still challenges that exist. There are still challenges in that market and that blockchain technology and things like Sablecoins can actually really address some of those challenges and make this already well -functioning market even more high functioning. So A, why is that desirable? Like, why is this an important problem? I guess we're just kind of out there. And second, what are those challenges and how specifically can digital assets and the kind of underlying technology that they're based upon help? Yeah, absolutely. FX is an extremely efficient market in terms of pricing. You know, people have been trying to arbitrage the FX market for years and years and years, and they're excellent at doing it on fractions of bits. So setting aside the opportunity and arbitrage as FX moves on chain, which is going to be generational, it's really efficient if you're actually accessing the core FX market. If you're one of the 70 international FX brokers who has access to the continuously linked settlement system, great. You're settling in as close to real -time as possible, which is another challenge. You're paying fractions of a bit. You're doing great. If, back to my example of me as a Canadian going down to Vegas, I'm not paying fractions of a bit when I tap my MasterCard, I'm paying 4%, 5%, 6%. And that's because it's so disintermediated and there's no connective fabric between that core underlying market and me as an actual consumer. Even when I'm paying cross -border payments to settle bills as a small business, I'm still paying 3 % or 4 % or 5%. And that gets even worse when you're looking at students coming to Canada to study abroad, trying to set up an international bank account, trying to fund tuition or things like that with wire payments. They're routinely looking in the 6%, 7%, or 8 % plus wire fees, plus time to set up international KYC challenges. It's a very efficient market except for who it's not efficient for. And it's one of the most valuable markets in terms of fees in the entire world. And the second piece to that, even for those incredibly large, sophisticated global enterprises, they're still limited by the banking hours in each country. And so there's a chart in the paper that looks like the craziest Gantt chart you've ever seen, which is trying to map the overlaps of the Japanese banking system and New York and China and all of these different places. And if you want to send any kind of real -time payments, your window to trigger those is, it could be two in the morning. It really is challenging from that perspective. And the G20, and the last piece I'll say on this, the G20 identified this as a big problem two or three years ago with extending those banking hours being sort of the number one thing they were focused on. And then they came out with a report a couple of years later that it would take extreme costs and permanently elevated cost bases and a lot of infrastructure and basically threw their hands up and said, it's really challenging to extend our TGS. And that's some of those walls that we've run into today where it works. We've solved settlement risk to a certain extent, large organizations can get money around in two or three days potentially, but there's almost a blocker of further evolution. And that's really where blockchain settlement comes in, because it can be a rip and replace of all of this antiquated cross -border correspondent banking system with a digital wallet that can hold all of these currencies, a public blockchain that can settle and manage the swaps, and then a whole infrastructure of liquidity providers, exchanges, decentralized exchanges that sort of already exists out of the box to manage and replicate a lot of that. So let's talk about the role you see of stablecoin in FX markets in general, but also in real -time settlement, like all these different places that you kind of either alluded to or talked about directly. So, I mean, I think stablecoins or digital dollars or whatever, sort of the next generation of vernacular, that's where we're moving away from the stablecoin piece too. Is it stable? Is it a coin? And that's maybe a good place to start, right? Because we've sort of lumped stablecoins all in together with the algorithmic ones, the crypto collateralized ones, the fiat backed ones, the gold backed ones. And that's fine as we're creating a new experiment essentially, but now that we're ready for prime time with some of these instruments, then there needs to be sort of a separation between the experimental ones and the ones that are truly ready to evolve and reach this global scale. And I think oftentimes we've completely blown the marketing on stablecoins where we should have positioned it as this is a better version of PayPal. This is a FinTech evolution instead of, hey, this is a less crazy version of Bitcoin, which is kind of the middle ground that we're stuck in today. Don't get me wrong. There's a ton of interesting value in experimenting with new forms of money, new forms stability, new forms of decentralized governance for coins, all of that stuff. But there needs to be guard rails around that such that it doesn't go to 60 billion and then down to no billion, specifically to your points around where stablecoins sort of fit in all of this. They effectively give you the ability to leverage these brand new rails that can chop out the trillion dollars of friction costs that sits in our kind of international correspondent banking system today. And so it's our job as issuers and also the Web3 builders to create all this connected fabric. It's our job to make as little friction and risk as possible between a Canadian dollar that you're used to and that lives in a bank or on your debit card or whatever, and a digital representation of that dollar. And so the global regulatory environments, and this is one of the pieces we talk about in the paper of sort of this slow grinding consensus of monoculture on how regulation should fit there, which we're getting towards slowly. Again, it's a lot of those viewpoint layups. Europe's getting towards it fast. That's true. They're playing hockey. We're playing basketball.
Unchained
A highlight from Oracles: Does the Backbone of DeFi Need Fixing? - Ep. 537
"So the vision that we have for pith is that all the world's financial data should go through pith to be brought onto blockchains in a way similar to all the world's music going through Spotify 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 August 29th, 2023 episode of Unchained. Arbitrum's leading Layer 2 scaling solutions can provide you with lightning fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition Orbit enables you to build your own tailor -made Layer 3. Visit arbitrum .io today. At token 2049 Singapore on September 13th to 14th Balaji Sreenivasan, Tyler and Cameron Winklevoss, Arthur Hayes and 200 others will hit the stage joining over 10 ,000 attendees. Visit token2049 .com for 65 % off regular ticket prices with the code unchained. Link in the description. 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. If you've been enjoying Unchained and find the discussions here fascinating, mind blowing or as crypto tends to be downright bonkers, please share this episode with a friend to keep the conversation going. Today's guest is Mike Cahill, CEO at Doro Labs. Welcome, Mike. Thanks so much, Laura. Excited to be here. You're a long time pith contributor. And today you have some news about new developments in that ecosystem. But why don't we just start with your background. Tell us about pith, what it is and what problem it's been trying to solve. Yep, absolutely. So pith is a data oracle network and it is focused on bringing financial market data on chain in a trustworthy way with very low latency. And my background is in traditional finance. I started at Morgan Stanley on the FX sales and trading desk out of college at a very interesting time where the markets for equities and futures had already become electronic and FX was undergoing that transition. And so I could kind of sense out the paradigm shift that was underway and I tried to position myself to be in an opportunity to take advantage of it. So the first thing I did was move over to electronic trading desk at Morgan Stanley. But then I realized that the winners were not going to be big banks, but instead trading firms. And so I made my way over to KCG, who is the largest US equity trader, and I helped build out the FX trading business there. And then in 2017, it was being acquired by another trading firm called Virtu. And during that time of the due diligence, it was effectively pencils down. And so you had a bunch of basically hungry traders and sat in a room. The ICO boom was well underway. And you can imagine the scene where we were very quickly learning about crypto. So we were all attracted to the kind of very obvious arbitrages that were available on centralized exchanges. But what really ended up being a paradigm shift for me is as I started playing around and getting an understanding, the first trade that I did on Ether Delta was an absolute eye -opener. I had already understood that the blockchain innovation would allow for smoother remittance around the world. But this was the first time where I fully appreciated that something like wealth management or decentralized interactive brokers was possible. And you'd be able to effectively give these financial planning tools to, say, a Kenyan farmer. Yeah. And so that was my journey down into crypto. I got a job or was recruited to jump trading when the crypto desk was emerging. And I started there in 2019. And that's when I started getting involved in the pith network. And today I'm announcing the formation of Durolabs, of which I'm the CEO. We have got 20 people. And we are a blockchain infrastructure company. And we're really focused on accelerating the growth of the pith network. Yeah. So let's give listeners more background on pith. You know, you're trying to solve this oracle problem, which is a pretty sticky problem in crypto. Describe a little bit what it is, the problems that oracle providers face in the crypto ecosystem. Yeah. The oracle problem kind of by definition is the shared state systems of blockchains don't have access to exogenous data. And so someone needs to bring it on chain. And then there's a whole bunch of tradeoffs with who you're going to trust to bring it on chain. And we've lived through several cycles of them. And each time there is a big issue, I think a new oracle network kind of gets created. So if you were to just start with building a application and you wanted to connect it to an oracle network, or you wanted to connect to an oracle, let's say that you were building a lending protocol, the most intuitive thing that you would do if you were not that accustomed to dealing with blockchains is connect to say, the Coinbase API. And then you'll run into some problems with that. For instance, there is downtime with the Coinbase exchange. There's downtimes with their Coinbase API. They may update it at some point. They may not have all the assets that you want to have covered, or they may underrepresent the market like they may have one of the assets, but it mostly say trades on Binance. And so your price on Coinbase may not be reflective. And so you can start to build out a case for having to add more data sources. And you effectively have to deal with certain tradeoffs. And most of those tradeoffs are around the speed with which you can update. And so the reason why we developed Pith, or I started working on Pith, was the prevailing solution at the time a few years ago, which was Chainlink, had two issues we thought with it. The first one was that it was relatively slow. So it was updating every, say, hour or 50 basis point move. And then the second problem with it is that it only uses free data. And when you're working at a kind of a systematic trading firm, there's two things that are drilled into your head constantly. The first one is that latency matters. And if you're slow, you will have adverse selection or you'll lose money. And the second is that market data is pretty expensive. So financial market data in the traditional asset world was $6 .5 billion in revenue in 2022. So if your model is predicated on getting that data when it's free, you're going to have a very high limitation to what is available. And so that's really where Pith decided to focus on in terms of the sector and how we were to develop the network to provide that with the lowest latency possible. And so how does Pith do that? So Pith is inclusive. It's a first party data network and it's inclusive of sources. So kind of the nodes in the Pith network are the ones that are actually publishing the data or generating the data themselves. And so those consist of trading firms and exchanges. So there are 85 data providers in the Pith network today. We count pretty much every large trading firm, almost without exception from Jump Trading, DRW, Susquehanna, Jane Street. And then we have pretty much every large exchange on the crypto side from Binance on down to the smaller ones and also some traditional exchanges. So MyEx, IEX, Memex are US equity exchanges. And in December of last year, Civo Global Markets joined us as a data provider.
The Bitboy Crypto Podcast
A highlight from XRP Will Be Bigger Than You Think! (Here's Why)
"There's a whole bunch of things in the judge's ruling that make it very clear about XRP. The SEC has been clear about Bitcoin also. Now, the unfortunate reality is right now, there's clarity for two, Bitcoin and XRP. On December 22, 2020, the United States Securities and Exchange Commission sued Ripple and two of their executives, Brad Garvin and housing Chris Larsen, alleging that crypto asset XRP was an unregistered security. Nearly three years and $200 million of legal fees later, Judge Analisa Torres ruled that although the initial sale of XRP may be construed as a security offering, secondary sales of XRP do not constitute securities offerings. Hey, get some, baby! Get some! This is a landmark moment in crypto. But where does that leave us? What's going on with XRP and Ripple? And most importantly, what does all this mean for the XRP Army? As we look to the future and the next crypto bull run. In this video, we're taking a more detailed look into the XRP ecosystem and everything that makes it one of the most formidable forces in the financial universe. If you're in the BitSquad or the XRP Army, this is a video you can't afford to miss. And that's in direct order from the supreme commander of the XRP Army. Let's get it. Welcome to BitBoy Crypto! Home of the BitSquad. My name is Ben. Today, we're going to do a deep dive in the XRP ecosystem and swimming our way through the waves of Ripple. There will be nets and on -demand liquidity, so if I think of any fishy puns, I'll make sure to let you know immediately. But first, go ahead and smash that like button and turn on channel notifications. It puts you in the BitSquad and makes sure you get the latest and greatest about all things crypto. In order to understand why XRP is so important, we have to begin with the problem that XRP was initially created to solve, namely expensive and lengthy cross -border payments. The Society for Worldwide Interbank Financial Telecommunication was launched in 1973. Since then, SWIFT has provided financial payment services between banks worldwide. They do this through a messaging network which allows international payments. Right now, over half of all international wire transfers are done via SWIFT. The catch is SWIFT does not serve the purpose of clearing or settling transactions. This means they still rely on third parties for this crucial piece, which adds a lot of time, expense and inefficient complexity to the whole process. So let's say you want to send $100 from the United States to one of your crypto bros in Dubai, like Chris from MooM Crypto or Carl from The Moon, in exchange for them giving you a private lesson on how to make crazy reaction faces for YouTube thumbnails. Well, in order to do that, you just send the money via year bank, and it updates on the user interface almost immediately. But that's just what the user sees. It can actually take three to five business days to settle. That's a long time in the world of finance. Not so SWIFT after all, am I right? And while your bank is waiting, they could be losing a lot of money in conversion fees to swap between currencies or paying banking fees to move the value through any number of different intermediary networks. And finally, they could end up losing a lot of money because the exchange rate between the currencies might have shifted against them since you initiated the transaction. Now, for $100 between crypto bros, this might not be such a big deal, but the global foreign exchange market commonly referred to as the Forex or FX is the global marketplace for the trading of one nation's currency for another. It has a daily global volume that ranges between $5 and $9 trillion of value. That's trillion with a T per day every single day. Suddenly, all these little delays in fees and conversion costs turn into a multi -billion dollar cost of doing business. As I'm sure you can imagine, banks aren't happy about this, and you can be sure as Satoshi that they're going to find a better solution. Now, I want to explain this in detail because it's important that you understand the scope and scale of what's at stake here. Crypto is a lot bigger than just meme coins and fun NFTs. We're talking about a major international banking problem that digital assets are uniquely poised to solve. Ripple is aiming to be the solution that gets adopted by banks and institutions around the world for this. But with so much money and power at play here, it's important to remember why the SEC went after them in the first place. It's never been about investor protection. It's always been about protecting their power and preventing you from getting out from under their control. So, by all means, have fun in crypto, but pay attention and remember why we're in the XRP Army. Go ahead and smash that like button and turn on notifications if you support the XRP Army, and the awesome content we bring on this channel every single day. Okay, so now we know what the problem is and why it's such a big deal to the banks. But how does Ripple solve this? And how does that involve XRP? In 2012, Ripple developed a public blockchain infrastructure in response to Bitcoin, RippleNet. The resulting payment network was designed to provide banks and other financial institutions with a faster, more cost -effective and streamlined alternative to the notorious slow SWIFT for conducting cross -border transactions. RippleNet, as it's known, is a real -time settlement system, a currency exchange and a remittance network, all rolled into one. Initially, Ripple's products included xRapid, a liquidity product, xVIA, a payment application and programming interface, and xCurrent, a real -time settlement system. In 2019, xCurrent and xVIA were combined and rebranded to RippleNet. And at the same time, xRapid was renamed On -Demand Liquidity or ODL. ODL speeds up the transfer and exchanges of fiat between currencies and exchange of fiat currencies between countries. If you look on Ripple's website today, you'll see they advertise three products and services, cross -border payments, on -demand crypto liquidity, and a third product, a central bank digital currency platform. They even include a quote from the president of Plow about building their nation's CBDC on Ripple. Always nice when happy customers leave you a good review. Okay, so those are the products from Ripple, but how does XRP work itself? XRP is the native cryptocurrency of the XRP Ledger, a public blockchain that uses something called Fenerate Consensus to validate transactions. A big difference between XRP and other public blockchains is that participants in the Ripple network are known and trusted by each other. As of July 2023, there are more than 150 validators on the network and over 35 on the default unique node list, or D, U and L, a list of nodes that are trusted network participants. In 2020, I appointed myself as the Supreme Commander of the XRP Army because it sounds cool and because I trust myself to participate a lot in this awesome community. Transactions in XRP settle in about 5 seconds at a negligible cost. You know, there's no stronger appointment than a self -appointment. Sorry. XRP can't be mined, and no new tokens will ever be created. Founders issue the entire supply of 100 billion XRP tokens at launch. It will transfer at $55 billion of its 80 billion XRP tokens into an escrow account in 2017, for which you can sell a maximum of 1 billion tokens per month. That was done to improve the transparency of XRP sales for the rest of the market. XRP is fast, efficient and can handle 1500 transactions per second. The result is that their cross -border currency payment system has attracted partnerships with more than 100 financial institutions, including Santander Bank, the Canadian Imperial Bank of Commerce, Bank of America, and over 55 countries have signed on to use it with over 120 fiat currency trading pairs. Ripple also bought a 40 % stake in a cross -border payments firm called Tranglo to expand its ODL offerings in Southeast Asia. If you love learning deep dive details about crypto, make sure to go check out Billab Academy, by the way. Make sure you're educated to capitalize on the next bull run. Now, after winning the initial rolling in the SEC case, Ripple is wasting no time capitalizing on the hard -won regulatory clarity they received. Just days ago, they announced they joined ISDA. And when it comes to organizations with four -letter names, ISDA best won. ISDA is actually a prestigious trade organization. The International Swaps and Derivatives Association or ISDA orchestrates and standardizes contract agreements and other important legal frameworks in the derivatives and swaps market. They have serious international influence and a presence in 79 countries. The website also looks like it's from the early 2000s, so you know they're too important to care about being cool. Ripple joining ISDA could be a harbinger of big things to come, and it marks Ripple's strategic entrance into the world of derivatives. It also further cements XRP status as the favorite crypto of the TradFi big boys. It shows that Ripple intends to continue to integrate its blockchain technology into every aspect of the legacy financial markets. Simply put, they want the whole world's banking system to use RippleNet and ODL for everything. No big deal. Now, we're talking about what Ripple is building and some of the multi -trillion -dollar problems they're trying to solve, but there's a lot more being built with XRP than just what Ripple is working on for bankers. The XRP community is really engaging with XRPL, XRP Ledger, and building a lot of interesting projects. Global XRP Ledger community, a diverse set of developers, server operators, users and businesses maintains a ledger. Any changes that would impact transaction processing or consensus need be approved by at least 80 % of the network. Ripple is a contributor to the network, but its rights are the same as any other contributors. In fact, the XRPL Foundation is currently collaborating with community members to define their shared vision statement. So reach out to them if you'd like to get involved. The XRPL brings governance, accounts, tokenization, decentralized finance, and even NFTs to XRP and it was a much wider range of community -driven use cases than Ripple ever imagined or would be capable of creating on their own. In my opinion, this is what crypto is all about. Decentralization, innovation, community ownership. The XRP Army is truly setting an outstanding example for the rest of the space in this regard. You can check out a more in -depth look at some of the use cases for XRPL on their website. This cool project you can check out on your own are Soligenic, which is a trading platform that seeks to bring tokenized asset trading to institutions, Xpecter, a metaverse project built on the XRPL, and XRPL Punks or XPunks, which is pioneering NFTs on XRPL as well. My point here is there's a lot going on in the XRP ecosystem beyond just what Ripple is building for the bankers. The XRP Army is one of the strongest communities in crypto, and they've been building all bear market long. And this is something I've said time and time again, but it's something you really have to understand. I can't predict the future. There are no guarantees here. Regularity houses are right, and XRP does seem to have a unique advantage for the moment given the recent ruling that declared a secondary sale of XRP on securities. That's a huge win for Ripple and for XRP because it means that they have regulatory clarity in the United States, which is a jurisdiction that no other digital assets besides Bitcoin have, and that's actually a little fuzzy, too. So when they build things around XRP, they're building something that has a unique regulatory standing in the American market, and that standing could make what they're building very attractive to investors and users alike. But as we go forward in the next bull run, it's important to keep yourself educated. Watch what happens. Swim with the whales. Pay attention to who's building what and how much adoption they're getting. There's going to be a lot of strong competition. But Ripple has made it very clear that they intend to be a leading contender in this space for years to come. Yes, stablecoins like USDC might give them a run for their money in certain areas, but there's a lot more to XRP than just cross -border payments. Stablecoins and CBDCs cannot replace everything that XRP and Ripple are building by themselves. XRP missed out on a lot of gains in the last bull run due to market suppression following the SEC lawsuit dropping. I've long predicted that XRP will be one of the biggest gainers, if not the biggest gainer, in the upcoming bull run. But just because they won the initial ruling does not mean the fight is going to stop. The SEC is doing everything they can to appeal or overturn the decision. But don't let any of that noise rattle you. As Supreme Commander of the XRP Army, my biggest message to everyone in the XRP Army is get educated. Understand what XRP is. Understand what's at stake. Also, visit bitboycrypto .com slash take. Guys, make sure to understand what is coming. Stay focused. Stay ready. And stay crypto, my friends. That's all I got. Be blessed. BitBoy out.
Crypto Banter
A highlight from How To Use AI To Find The Next 10x Crypto (Google Bard)
"In today's video, I'm going to show you how to become the ultimate crypto researcher by using Google Bards AI software. What I'm going to show you today is how to essentially drop the tedious tasks of scrolling through white papers and trying to extract data and scrolling through a bunch of spam on Twitter and show you how to actually use Google Bards to speed up your research process so you can find crypto gems and become a much more fast and efficient researcher. So what I've done is I've essentially researched in my own time and come up with all the prompts to use on Google Bards that you can use to evaluate and compare projects to make better investing decisions and sometimes Bards will even make suggestions on your behalf, obviously non -financial advice suggestions in terms of where you can invest in a specific sector. So without further ado, let's just get straight into this video and let's start going through some of the prompts that I found to evaluate crypto projects. Now, this works really well when you have a niche that you would like to research further. So let's say, for example, you are told by a friend that liquid staking derivatives are a really exciting sector that you should look into or L2s are an exciting sector or gamble fires an exciting sector, but you just don't know which old coins in that sector to buy and you want a little bit more guidance in terms of understanding that sector. Well, instead of scrolling through Twitter, instead of scrolling through the white papers, you can actually use the prompts from today's video to work out the best project in that sector and actually understand a niche in under 10 minutes. Yeah, that's right. Today, I'm going to show you in under 10 minutes how to understand an entire niche that would usually take hours and hours of research just by utilizing Google Bards. This will save you, I think, cumulatively potentially tens of hours of research time, scrolling through research, scrolling through research reports, so you can actually have basic of understanding a niche and a project much quicker and then also make better investing decisions off the back of it. I also have a strategy I want to show you in terms of how to execute trades. But before we get into that, let's go through some of the prompts that I've found. Some of these are crazy. So the first thing you'll need is the white papers of the projects that you want to research. So for the example of today's video, I will be using liquid staking derivatives. Note, you can use any niche as I discussed before. So to get the white paper of a project, it's very simple. You simply get it off coin market cap. And what you want to do is scroll on the left -hand side here, click on white paper. This will bring up the white paper and you want to copy that link into Google Bards. Because I'm using liquid staking derivatives, I'm going to be using Lido and Rockerpool and Frax as the examples for today's video. And then I'll show you how to go a little bit deeper into each one of these projects by using Bards. So the first thing we want to do is essentially give them the Rockerpool and the Lido white papers that we're going to get off coin market cap. And we wanted to simply give us the pros and the cons to each. So I'm entering in the links to all the white papers. And then I'm going to ask it, understand both of these projects, then come up with a detailed explanation as to which project is which better on each aspect. In case you think my grammar is a little bit weird, it's actually good because Bards extremely sensitive to the tone and the way you structure sentences. So the way I've actually gone through and structured them, I've dumbed down the English a little bit. So Bards gives me a more accurate and a more acute response. Otherwise, it tends to go a little bit off track. So that's why you should stick to the prompts in the description if you're trying to research a project. So what it's doing now is it's comparing Lido to Rockerpool. So we have the pros of Lido, the cons of Lido, the pros of Rockerpool and the cons of Rockerpool. And then essentially what it's done is it's created a table for us to summarize some of the key aspects. So their validated structure, their fee structure, the liquidity structure to give you a better idea as to which one's better. So if you were deciding, should I buy Lido? Should I buy Rockerpool? You know, which one's better? This would actually help you get a basic understanding of each project and the pros and the cons. Very, very cool. But you can actually go a step further here. What you can do is you can find a third project, for example, FRAX, which is in the same niche. And you can introduce a third data set in order to get a much more expansive list of variables and summaries. So I'll show you exactly the prompt that I used to do this. So essentially, I give it the white paper to FRAX. I ask it to add the project to the above list and how it's different from the other two projects mentioned above. I ask it to compare all three of these protocols and come up with an answer for these questions. One, what is the value out of each of these projects? Two, what are some of the innovations that one project has that the other two don't? And three, taking into consideration their current market cap, and this one's interesting, which one of these projects has a higher upside in terms of price action on the fundamentals of the project? Also compare the tokenomics of the above three projects, which I'll do in a separate prompt. So first, I'm going to put this prompt in and let's see what it spits out. This is super, super cool because you can do this with all sorts of projects, even meme coins, you know, gamble fire coins, social fire coins, any new niche. Telegram bots is a new popular niche. You can just take the white papers of these projects and get these summaries. Now, one thing I want to say as a caveat is, of course, the information here can be incorrect. The fact you're giving it the white paper is great because that's going to give it information to base itself off. But this isn't necessarily an application that you should use to make financial decisions. It's purely an application that can guide you on the right path to understanding a protocol even better so you can make better financial decisions, if that makes sense. So what it's done is it's given a brief overview of fracks. This is very interesting because it kind of gives you some of the nuances that make fracks different from the other projects. So it's a stablecoin protocol while Lido and Rockerpool are staking protocols. It allows users to mint and redeem fractional reserve stablecoins while Lido and Rockerpool are simply just used as a vehicle to stake ETH. Fracks is backed by a combination of CDPs and fracks tokens while Lido and Rockerpool are backed by ETH for their staked ETH. And then now it's put this into a table with the APRs on Ethereum, what is what the projects are backed by, what niche the projects are in, and the risk of impermanent loss, etc. It's very interesting at the end, though, it actually tells us which one you should buy. Now, of course, remember, it's not financial advice, but it says, I think fracks finance has the highest upside potential because fracks is a unique project that offers a number of innovations such as the reserve stablecoin and liquid staking components. Additionally, fracks is backed by a strong team of devs and has a large community of supporters. However, it's important to do your own research. So Bard will actually tell you which project to invest in, which is super interesting. And just imagine the possibilities with this if you're comparing like, you know, coins in new upcoming niches. I think it's super interesting. And some of the analysis it does here, I've vetted it. Sure, it misses some nuance. Like it doesn't tell us about fracks lend. It doesn't go into why fracks is backed not by Ethereum. It doesn't, it can't separate between its liquid staking component and its stablecoin component. So there are a bit of nuance that it misses. But if you're new to understanding a niche and you enter these prompts, I mean, you're in a much better position than someone that hasn't. And you're also in a much better position than someone that's just scrolling through white papers trying to get an understanding of a project. So I think it's really, really cool. Now, I've got a really cool prompt as prompt number three that I want to show you. Also, you can get it to compare the tokenomics, by the way. So if you enter this in, compare the tokenomics of the above three projects, it'll also give you a better understanding of the tokens play, etc. But okay, let's say before we get into prompt number three and prompt number four, let's say you've decided out of this niche that you want to buy fracks. So you've done the research, you've used Google Bard to give you a bit of a guide as to, you know, which project you like, what the pros and the cons are. Let's say you've come to a decision you want to buy fracks. Now's the time to dig into the on -chain data to work out whether it's a good buy from a price action perspective. And funnily enough, you can actually use AI to do this. So instead of just going on your trading view and simply looking at support levels and resistance levels, you can implement another AI tool alongside Google Bard, which is Kyber AI to actually go even deeper in terms of the on -chain analytics behind the project. So for this example, we're talking about fracks. So let's use fracks in this example on Kyber AI. What you want to do is you want to type in FXS, which is frack share. Select the network. I usually select Ethereum because it usually has the most liquidity. And what Kyber AI is going to do is it's going to give you a full on -chain analysis of the coin based on the current trading indicators. And it's also going to give you analysis on the trading volume and the net flow from centralized exchanges. So what I would look at most heavily here is the Kyber score. So what the Kyber score does is every four hours, it gives you a score out of 99 or out of 100 based on the bullishness or the bearishness of the coin, which is comprised of an AI algorithm that takes into account the amount of trading that's happening on -chain, the buys and the sells on -chain, the centralized exchange flow in order to give you a reading that changes. So right now we're in bearish territory, which means the on -chain indicators indicating that some selling is starting to happen versus buying, that we're starting to see volume tick a little bit to the sell side and overall momentum is dying off. And they use an AI algorithm to give you a score based on some of this data, which is very, very cool. So you may determine it because the Kyber score is bearish that frack share isn't a great buy until it starts to tick bullish again. I think this is especially great if you're trading on the lower timeframe. So if you're using, you know, fracks as a shorter -term trade, then this is great. In terms of a longer -term trade, you can also use this. But what I would do is instead of trading on the four hourly swings, I would take into account the higher timeframe changes in the Kyber score. Or simply you can just go down to the on -chain analysis section and really zoom out. Instead of looking at, you know, the last three -day Kyber scores, you could go to the three -monthly chart and you can look at overall how volume is trending. Are whales starting to position themselves in via more buys? Are whales starting to sell the token? And what does volume also look like over the last three months? And you can actually use this to buy during periods where you're starting to see the metrics uptick. Or if you're a DCA, you can actually use this to buy into periods that are historically low from a metrics perspective, which will help you get a better DCA entry. So I use this all the time when I am researching projects. And I think it's a great tool to pair alongside something like Google BARD. Now it's not just like fracks or any individual project you can search up. If you want to search or if you want to find bullish or bearish altcoins from the index, they have a live rolling ranking. So they rank basically all the projects that are listed on Kyber via their Kyber scores. So you can look at bullish tokens if you're interested in longing. You can look at bearish tokens if you're interested in shorting. And you can click on any one of these and get the same data that we looked into on fracks. So you can go into a token and you can also get all the same data that we got for fracks. So I think it's an amazing tool to get additional data to help you trade on chain. So I recommend using the Kyber AI tool whenever you're doing AI research. And there's a link in the description to sign up for the beta of KyberSwap. It is currently in beta access. So you will need to apply for early access. But if you get approved, I highly recommend using it. And another cool thing is they will literally email you every single day the top trending tokens and also the most bearish tokens. So that can also help. All right. So going back onto the Google BARD tutorial. So we know what it can basically do in terms of comparing two to three projects and giving us a verdict based on those projects. But what's super interesting is we can also use it to find projects. So if we're researching the LSD space, we know that there are three projects in this space. There are also likely projects that we don't know in this space. So you can ask it, are there other projects in the same sector that are working on the same problem as the above three projects? So it's going to come up with a list now to expand our horizon slightly. And this can be good because it's filtering instead of looking at like a coin gecko list. It's actually filtering these projects, sourcing them for you, and then giving you some information on them. So Anchor, clearly that's another big one. Stakewise and StakeUS and some of these other ones. And if you ask it, can you find even more projects which are working towards solving the same problem? It's going to get you an additional list of projects. So this can actually be a great tool for finding new projects because you can keep entering prompts and you can keep finding new projects and getting an explanation on them. If you want it to go even further into a project, you can ask for a prompt that will give you more information on that. So I think it's super interesting that it can kind of also source information for you alongside giving you the basic information on the tokens that you enter. So this will allow you to go even deeper on these projects, work out details to do with the tokenomics, work out anything to do with the project itself. So for example, if it gives you Celsius as a prompt here, we know something happened with Celsius. If you couldn't recall exactly what happened with that event, you could ask it what happened and it would give you an in -depth rundown as to what went down. Or you could even ask like what are some of the flaws with these projects and it will tell you. So the prompts that I've used in this video, I'm going to leave in the description below. But needless to say, this is an amazing way if you'd actually cut down the research time on researching white papers and get AI to do it for you. Because it's a major issue in crypto that when we try to research projects, we have to scroll through these 30 -page white papers and get lost. Whereas you can literally get the pros and the cons right in front of you. It'll literally give you tables that you can export to Google Sheets, by the way. So if you wanted to create an entire matrix of the pros and cons of the entire sector, you can do this just by exporting to Google Sheets and aggregating that data on a sheet for you. And you can also get Google Bar to actually tell you which project it prefers you to buy, which is pretty crazy, of course. You know, you always have to have a little bit of a caveat there because it can't give you financial advice. But it is interesting that it was able to tell us that Fracks has higher upside. I also believe it has higher upside. So in this niche, it did end up working. So let me know in the comments below if there is a sector you would like me to do this live with. Because I did liquid saking today because I think it's just an easy one to give you an intro into the strategy with. If you would like me to go into this strategy with some of the harder narratives, let's say Telegram bots, meme coins, you know, any of this kind of stuff, let me know. And I can actually do a live Google Bar tutorial for you using custom prompts to work out what the best projects in a specific niche is. As I said, in your own time, you can do this with L2s, L1s, whatever niche you want. And it's basically like your crypto research assistant. And look, right now, it's limited in what it can do. But over time, it's getting better and better and better. And as it gets smarter, I'll start incorporating these AI tools more into my crypto research strategy just to take a bit of pressure off my own learning. And I think it's great to give you that initial fundamental understanding. Like after these prompts, you should have a pretty good understanding of liquid staking. And if you don't fully get something, you can ask it to expand on one of the points. So if it says, you know, if it mentions liquidity and APR being better on Rocker Pool, you can ask it, well, why is liquidity better? And what does that actually mean? And you can get a deeper understanding of these terms that you probably commonly see thrown around in crypto. So leave a comment below. What sec do you want me to research using this strategy? Also, if you enjoyed this video, smash the like button. And I will leave all the prompts we used in today's video in the description. And you can just plug and play the white papers depending on which project you want to research straight from their own CoinMarketCap. So I will see you in the next AI tutorial. Thank you so much for KyberSwap for partnering with this series. Link in the description to Kyber .ai if you would like to sign up for early access to that awesome platform. And I will see you in my weekly market update tomorrow for another live show. Peace out. Bye.
Crypto Banter
A highlight from I'm Buying This Altcoin NOW (It Will DOMINATE DeFi) *21x Potential*
"Frax has come a long way in the past year. They started as an algorithmic stablecoin, and now they are developing into a DeFi powerhouse. But I have some major Frax updates today to share with you, which could change the growth trajectory of Frax forever, and I want to give you my exact thesis behind why I am adding this to my spot altcoin bags over the next few months. I'm going to have a very special guest joining the show to explain Frax even better than I can, but before he comes on the show and gives you his full thesis, as well as trading strategies surrounding Frax, which are absolutely amazing, I want to give you a quick overview of what Frax is. So essentially, Frax you can think of as a DeFi powerhouse. It's a behemoth which has multiple products like its Frax Lend product, its Frax ETH product, and of course its stablecoin product and all of its pools underneath one DeFi ecosystem. It started as a simple algorithmic stablecoin, and it also had Frax Share to represent the governance token of the protocol, but it's built into a lot more than that over the past year. As you can see right in front of you, Frax Ether is now the fourth biggest Ethereum liquid staking derivatives. This has been one of the biggest growth verticals for Frax Finance in recent times. Rex Diomedes said he's extremely bullish on Frax for their focused on T -bills via their RWA involvement, which is coming soon. The LSD narrative, which has been very prominent in the proxy colon curve. Sam Kaysman, the founder and co continually iterating based on the very fluid changes in the DeFi landscape, as well as the GigaBrain supporters behind it. Just to summarize, they are launching a lot. They've got Frax v3. We also have real world assets, which I spoke about on a show last week coming to Frax in treasury bills. They're going to enable you to invest in treasury bills on chain. This is going to provide another vertical for growth via the interest generation they can make on those bills. Also, we are seeing them launch their own L2. So much is coming for Frax Finance. And as an investor and trader, all these new products give us trading opportunities. So I am going to get a special guest on the show now to talk about the future of Frax and explain it even better than I can. But before we get this guest on the show, I want to quickly give a shout out to one of our major show sponsors, Smartdex. Now Smartdex is a crypto DEX, but they are following what they refer to as a next generation DeFi model, which limits the negative effects of impermanent loss. So this gives a more efficient trading and staking experience for users of the DEX. Now right now, you can swap into a variety of assets, actually including Frax as we've talked about today. So if you do want to use them as a DEX just to swap, there is a link in the description below. But I also want to pay attention to some of their farms, which are paying crazy boosted rewards right now with big multipliers. So on their Bitcoin ETH pool, they are paying almost a 20 % APR. You can also see that you can earn rewards in their native token. They also have S -DEX pools as well as new pools launching all the time. So I'm excited to continue to work with Smartdex. Thank you to Smartdex for partnering with the show. And if you do want to swap or farm on the platform, there is a link in the description below for you to get involved. Now, without further ado, let's welcome our guest Drake on Digital to talk about Frax Finance. This will be a very, very cool interview. Joining us is Drake on Digital to give us some more insights into the ecosystem. Drake, welcome to the show. Yo, what's up, guys? Oh, you can't respond. Never mind. But what's up? So before I was recording the show and I was just prepping for the show, I thought, you know, I want to get someone that really understands the Frax ecosystem onto the show to give the viewers a little more insight and explanation that's beyond my level of understanding. And you were the first person that comes to mind because I've loved your content on Frax and FXS, their token in the past. So I think you're the perfect person for this. And basically, I just want to fire off a few major questions I've got to help me and the viewers understand more about Frax. So what do you think about that? Dude, that sounds like a plan, man. Hey, I appreciate the kind words and it's an honor to be here.
Finance Magnates
Finalto Strengthens its Sales Team with Former iS Prime Senior Marco Maggioni
"1 p.m. Sunday March 5th, 2023. Finn alto strengthens its sales team with former is prime senior Marco magione LTP GT final to an institutional trading and liquidity services company, announced that Marco magione joined its team maggioni joins a sales director with a focus on liquidity and execution services for the institutional market LTP GT LTP GT according to a statement issued by dot finance magnates, dot com thought leadership fennell town bale's new data center and service improvements target coop Blanco rel cot follow quat date article linked to a true equation tagged. Maggioni has been serving the effects industry for nearly 15 years, and has picked up a good deal of expertise along the way, developing business and delivering sales growth for some of the most established FX brokers in Europe, opening branch offices and regional desk, managing the entire sales cycle from the origination of opportunities through to the execution of the sales strategy and closing deals LTP GT LTP GT having most recently spent 5 years at dot finance magnates, dot com executive SS prime cofounders depart business 8 years after quack target coit blanc what real quick follow quad data article linked with true coitus primal tag. As sales director and head of new business, Marco has been designing and executing plans for new business acquisition, leading a dedicated origination team of institutional sales, and overseeing some crucial aspects of the sales operations. Am excited to be joining the industry leaders. I am looking forward to being part of fennel pos continued growth, working with like minded, talented people who match my ambition. I genuinely believe I will be able to fulfill my potential at finito, and I know I can offer them tangible business results. Head of sales, said quote Marco joining fin alto shows we are attracting the right caliber of person to help drive our business forward. Marco has the knowledge and drive to add real value to our sales team we all look forward to a successful career for Marco at finito, dot quilt with final tough ref coffs, dot finance magnates, come for exclusive a final to group its new group CEO of shopman and green bond apart quote target qua blank what rel cot follow quat date article linked to a true Quartet's changed tagged senior management a few months ago. On November, Ron Hoffman, the group chief executive officer CEO, and leer in greenbone, the group chief operating officer, COO, have departed from the financial solutions providers after over 7 years fin alto has tapped Matthew maloney, who has been the CEO of fennel financial services and fin alto trading, since February 2021, to take over from Hoffman as the new group CEO, dot LTP GT this article was written by finance magnates staff at WWW dot finance magnates dot com.
Finance Magnates
Warning Misleading App Uses ForexLive Brand to Target Traders
"7 p.m. Sunday March 5th, 2023. Warning misleading app uses four X live brands to target traders. LTP GT deceptive website and app, with a logo that resembles four X live dot com of finance magnates group, seems to be scamming users using our brand. The website, Forex live dot CON, is not affiliated with us, and we are taking immediate action to shut it down that we urge you to exercise extreme caution when using any website claiming to be associated with our brand. Please only use our official website to protect yourself from this type of scam. You should also ensure that you visit our official website. For ex live dot com target qua blank will quote follow coughs for excellent dot com tagged by checking the URL in your browser address bar, which should begin with quilt squat and include our brand name LTP GTL tp GT clone firms are unfortunately quite common in the retail trading space. The clone operators often mimicking regulated brokers, use the details of well-known brands to mislead clients into depositing funds. Regulators and brokers alike tackle such practices by informing the public about the clone, and today it apparently befell finance magnates group to do the same dot LTP GTL TPG GT scammers and clone firms may cold call investors, but also contact them via marketing emails and social media platforms. Investors may also receive calls after searching for investments in submitting details online LTP GT LTP GT clone firms may offer investments in products such as bonds, shares, FX, and cryptocurrency that are non tradable, worthless, overpriced, or even nonexistent. Some clones offer services to obtain a loan or recover funds from previous investments for an advanced fee LTP GT. This article was written by finance magnate staff at WWW dot finance magnates dot com.
Finance Magnates
BDSwiss Chief People Officer in Cyprus Leaves after a Year
"8 p.m. Friday, February 24th, 2023. BD Swiss chief people officer in Cyprus, lease after a year. LTP GTA master roads the chief people officer at BD Swiss is leaving her cypress based role at the Utah ref cops dot finance magnates dot com's 4 o'clock class quarter's main term quote it quite 6 FAA 6 7 one four 7 F 7 B four D two three B one C 5 C zero D four zero 8 zero 76 one three quote target quote blank caught fork cell tagged and CFDs broker, the senior executive announced on Friday. Master rudis exit comes after over a year on the job. She noted that she will announce her new role soon LTP GT LTP GT who is the BD Swiss HR level masters joined the broker as head of HR in January 2022 she was promoted to chief people officer later in June the senior executive boasts of over 15 years of human resource. And talent experience in the financial industry and has worked with companies, such as primus and pricewaterhouse coopers, PWC Cyprus GTC served at. For over a year and half between June 2020 and December 2021 as the head of HR the role was also based in Cyprus. Before that she was the HR manager at Q 8 trade, a Forex and CFD dot finance magnates dot conference trading platform class quarters can dairy term quote if fate 5 8 zero zero B two CCF 5 four F 5 zero 98 T 7 8 zero D three two AFC 6 F 6 target quote trading platform tag provider. She held the position at the company between July 2019 and June 2020 dot LTP TLT PGT between January 2012. In June 2019, master had worked at AMDA in various roles, climbing to. Become the Europe, Middle East, and Africa talent acquisition project manager in. March 2017 at PWC Cyprus, she served as a senior associate, people and change dot LTP TLT PGT top staff leaves. Admiral's Australia LTP GTL TPG T meanwhile, on Friday. Thomas pantazzi, the head of country partnership at admiral's Australia, also announced that he was exiting his role at the Forex and CFD broker. Pantazis joined the Australian subsidiary as an account manager in February 2021 and became the head. Of country partnerships in January last year, dot LTP GT LTP GT there have been other. Executive moves at the ref cops dot finance magnates docked with target coop blank while rel caught follow copy D whistle tag in recent months. Mark cheres, one of the brokers marketing executives, whistle taffer dot finance magnates, dot com executive Assad whisper modest marks U.S. to marketing manager for Latin America target qua blank what will quote follow caught television last month tagged to marketing manager for Latin America. She raz, who joined the brokerage firm in December. 2021 brings over a decade of marketing, sales, and accounting experience to the. Roll LTP GT LTP GTB D Swiss also recently. Dot finance magnates dot com executive market Sanders under your joints was sent out by quote target coop Blanco rel quat follow quad hired HF markets Andreas Andrea tagged as its new chief. Commercial officer in Cyprus. Andrew brings over two decades of industry. Experience to the role. He previously worked for cyberspace brokerage firms such as iron FX and FX GM dot LTP GT LTP GT on the other hand. Admirals recently dot finance magnates dot com executive esmo Sadler Elise name is June Enrique and osmariel aspects of target coop Blanco rel quat follow quant, one more in all tag as its chief executive officer for Spain. Moriano, who brings a mix of academic and financial industry experience to the new role, was previously the brokers. Spain country manager LTP GT this article was written by Solomon oladipupo at WWW dot finance magnates dot com
Finance Magnates
South Korea Revises DecadesOld Forex Transaction Rules
"8 p.m. Friday February 10th, 2023. South Korea revises decades old Forex transaction roles. LTP GT South Korea's financial authorities have settled to revise the country's foreign exchange. Transactions act that was introduced in 1999 following public outcry against. The limits of the policy, Korea times reports on Friday LTP GTL TPT as part of the revision, the outlet reports of the finance magnates dot com dick south Cary quad target qua bank quant rel quat follow quad South Korean government act has sanctioned 9. Securities firms licenses to engage in the business of currency exchange serving. Both corporate and individual customers. Initially, only four broker sapo's houses. We're permitted, and they were limited to serving corporate investors only dot LTP GTL TPG Korean times further reports that the move will help reduce the commission. Charged for money exchange as banks and securities brokerages compete for. Clients. LTP TLT PGT South Korea revises policy under four X transactions with the adjustment of the long-standing Forex rules also affects other areas. For instance, while South Koreans currently have to remit less than 50,000 a year in order to avoid submitting documentary evidence of the fund, starting. From June, they will be able to do the same for up to 100,000 a year. LTP GTL TGT furthermore, the revision also means that businesses in the country are. No longer limited to 30 million in terms of the amount of foreign currency. They can borrow without having to report it to the country's finance ministry. The amount has now been reviewed upwardly to 50 million. The change came in response to South Korean business owners desire to expand their global. Presence LTP GTL TPG T moreover, South Korean business organizations under the revised version. Of the policy are no longer required to file regular reports to the countries. Financial authorities about their overseas branches or stake of over ten and a foreign company they can now only feed the report once in a year. LTP GTL TPG South Korea embraces offshore firms in FX markets, meanwhile, finance magnates recently reported that South Korea is finance magnates dot com institutional for South Korea to aloe sure firms to participate times market score target cooperating quite real quick follow-up seeking to a travel tag the participation of. Offshore firms in its local Forex markets in order to meet up with global. Standards. The country also plans to attack rough clubs of finance magnates dot comfort South Korean watch Doug to investigate activity in local banks quote, target crop blank quad recoil follow quadro extend the running of its Forex markets will tag to 17. Hours a day in order to allow activities continue up to London apos business hours. LTP TLT PGT currently, only 54 certified local financial institutions, including banks and securities firms, are approved to participate in South Korea's. Interbank Forex market. However, the government intends to change this by. Permitting registered offshore firms with the exception of principal trading. Firms and hedge funds to engage in the country spot and Forex swap. Exchanges. LTP GT this article was written by Solomon Oladipo at WWW dot finance magnates dot com.
Bloomberg Radio New York
"fx" Discussed on Bloomberg Radio New York
"Are rising in other countries. Bloomberg FX and rates strategist thanks so much for joining us the yen right now trading one 46 43, a closer look at markets in a moment. This is Bloomberg. This is a Bloomberg pursuit look at luxury. The latest company to drop EA, his own lawyers, even Kanye West's attorneys don't want to be associated with him in the wake of its recent anti semitic remarks. His firm joins talent agency CAA and fashion brands such as balenciaga and Adidas and severing ties with the rapper and designer. The German sneaker brand will absorb a €250 million hits, but will continue to sell his designs under just the Adidas label. Less than 24 hours after gap said it would pull all remaining easy gap products from its stores. The gap's flagship store in New York's Times Square had emptied out an entire floor of product destination unknown. Customary resale market is unlikely to be an option. Although some resale sites are seeing a 10% rise in prices for existing yeezy sneakers, both TJ Maxx and luxury consignment marketplace the real real say they will no longer accept pieces associated with Ye or his brand. Visit Bloomberg pursuits dot com for more. Bloomberg radio. One 45 over 92. One 80 over one 11. A 182 over a hundred. And I had a heart attack and a cardiac arrest. And then a stroke. Your blood pressure numbers could change your life. A lot of people don't understand, including myself, I didn't, now I do. The impact of having
Bloomberg Radio New York
"fx" Discussed on Bloomberg Radio New York
"It's 5 30 on Wall Street. Good morning. I'm Nathan Hager. And I'm Karen mascara, we're just about four hours away from the open of U.S. trading. Let's get you up to date on the news you need to know what this shower stocks in Europe are falling as the U.S. dollar continues its strong run. The Bloomberg dollar spot index hit another record overnight and that's leading to tighter financial conditions that are weighing on risk assets around the world. Janet mui is head of market analysis at Bruin dolphin. There are increasing signs that countries are worried about the dollar strength. I think government officials, they will have to come together to discuss what they may do about it, but maybe they don't actually have a lot of solutions. Janet, my way with brew and dolphin, says the strong dollar could have a disinflationary effect on the U.S. economy, but she still expects the fed to raise interest rates at September's meeting. And we'll get more insight from the fed today, Karen, with the release of the beige book, that comes at 2 p.m. Wall Street time a day before we hear from fed chair Jay Powell. He speaks at the Cato institute's monetary conference tomorrow tune in to Bloomberg radio and television for live coverage of that around 9 a.m. eastern. Well, Nathan the strong dollar wait on assets in Asia overnight. Stocks held at Lowe's from May of 2020 while Asian currencies we can sharply. We're taking a close look at the yen in particular. It's on track for the worst year on record as prompting signals from government officials that Japan would need to take action if the rapid one sided move continues with Carson's FX reporter with Bloomberg news. At this stage with the bank of Japan, clinging to its ultra dubbish monetary policy stands and that fed hiking aggressively to fight inflation, there's little stopping it from hitting levels last seen in the early 1990s. Bloomberg Smith Carson says potential government intervention is on traders minds at the moment and checking the yen right now. I said one 44.17 against the dollar. All right, turning to corporate news now, Karen, all eyes are on Apple, the tech giant holds an event today to unveil its new iPhone 14. New iPhones traditionally kick off a busy fall product season, which also includes new Macs, iPads, and Apple watch models. This event kicks off at 1 p.m. Wall Street time today, we will have live updates from Cupertino for you throughout the day on Bloomberg radio and television. And taking a look at oil now, Nathan, crude's trading lower as the dollar surges concerns over global demand are also weighing on sentiment, WTI is off to a weak start to September, extending a run of three monthly losses as the worst streak in more than two years and checking prices right now, WTI is up 9 tenths of a percent up 76 cents at $87 61 cents a barrel. Looking at Brent, it's
Bloomberg Radio New York
"fx" Discussed on Bloomberg Radio New York
"To Simon Harvey he's had a FX analysis at Monica's Europe Larry summers and a number of his peers have done some analytics They rewrote and re crafted the data from the 1980s That gives us a core CPI of 9.1% I we are already in a Volcker era style inflation And this is the point that they make If you want to get back to 2% core you will thus require nearly the same amount of disinflation as achieved under German Volker That says to me not just three sets of 50 basis point hikes but maybe we need to return to considering something more substantive Do you think that we will need to see something more expeditious than three clips of 50 We can't necessarily take inferences from previous cycles ten 20 years ago with regards to what these kind of more longer term structures of the economy look like So it's all well and good saying okay we've got an inflation problem It has some parallels to what was happening you know ten 20 30 years ago So what I would argue that if we're then talking three four 5% from the Federal Reserve you know the market is definitely not positioned for this Maybe a few individuals are but on a whole we're really not kind of pointing towards this en masse Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app Or check your local cable listings Markets headlines and breaking news 24 hours a day The Bloomberg business book quick take This is a Bloomberg business flash From Bloomberg European headquarters here in London I'm Caroline Hepburn with this Bloomberg radio business flash.
Bloomberg Radio New York
"fx" Discussed on Bloomberg Radio New York
"It's mini Fight Club in the FX market the dollar is down Just off its 20 year lows the yuan pushes low We've just had these braking headlines on verbal intervention really on the economy trying to boost the economy is what the objective is for the PBOC and the Politburo But you are seeing the Euro dollar buying off its 5 year low The FX traders are smelling blood The Euro dollar might be cheap according to city but now is not the time to speak of value They still want to sell the Euro dollar And I love kit jukes line is that we're in the most aggressive final stage of the dollar rally yet Let me show you the ramifications of a 20 year low in the dollar It is in the emerging markets you have to this is a visceral shot Emerging markets I mean we've just turned it around today but you've had a 9 day falling streak But see how today goes but you could be on the lookout for one of the longest losing streaks in 21 years Yusuf Yeah I mean what's interesting about a currency like the South African ran is year to date is still flat despite the heavy losses over the last few sessions It's not of course the case with all the MF But in any case I want to get to the energy story and to what is happening with natural gas This is something that should be at the top of your radar The volatility in this commodity is just incredible This is the close as of late yesterday So these are the European gas futures for June the contracts You're seeing their drop of 21.6% and for 7.2% respectively This is because basically there was news that buyers are considering options to keep receiving supply from Russia without violating sanctions This is where all your sanctions lawyers get called up for some creative solutions to a problem and they appear to be finding some and that's why you're seeing these moves Hungary confirmed that it is sending Euros to Gazprom bank and then they're allowing them to be converted into the local currency and we had a similar story with Italy's any spa They're preparing to open ruble accounts with the Russian bank and so the fact that you're making progress on the payments issue that is definitely a bit of an inflection point at the moment Let's get to Qualcomm and to the corporate earnings because the first quarter numbers smashed estimates Thanks in large part to CEO Cristiano ammons plan to diversify the company beyond making chips for smartphones He told Bloomberg's Emily Chang there has been growth across the whole business The strategy is working for the company It's really working We are now growing across all business in a number of different end markets Hints at CS is a great story We'll continue to be a great story I think we're doing well there I guess like no good did go and goes unpunished as by doing well and hence it So I think we're in we get all those questions but the reality is the IoT growth has been incredible We grew 61% and how do we add a $3 billion to our design win pipeline of in the quarter So the company is truly changing from what is perceived to be a communication company for the Hanson market It's really a connected processor company for the intelligent edge And hopefully that message came across You've gotten so many questions over the years about your relationship with Apple including from yours truly but the call focused a lot on Samsung Is it better for Qualcomm to have Samsung as a customer a successful customer as opposed to Apple and if so why Well that's a very good question And I think he goes to the heart of what our mobile strategy is So here's the reason we're doing so well enhance it And we had the outline and the call that actually one of the fastest growing in a revenue for us and silicon content and of course earnings is on the processor side So we put the following strategy in place We want to be synonymous with premium and high dear Android When you think about a flagship Android you think Snapdragon In Snapdragon 8 it's really becoming the platform of choice across every OEM from Samsung to vivo oppo Xiaomi Huawei honor to build their phones in deflection category And what's happening go back to your question when we sell when we sell a Snapdragon 8 series into a Galaxy S 22 From a revenue and earnings standpoint it's probably equivalent of selling modems to 5 iPhones So it's a great trade And especially when you look at the decision made by Samsung as a result of a strategy of being very focused in the Snapdragon being winning in all categories the best smartphone camera in the world the highest dxo Mark scores the fastest AI lowest power with a graphics and CPU performance That is driving the.
Mark Levin
Amazon Taps Former AG Loretta Lynch to Run Racial Equity Audit
"Go go broke Amazon now has new plans Amazon is now planning a racial equity audit that's going to be led by none other than Loretta lynch Following calls from shareholders for more transparency on the FX of company policy Amazon will be conducting a racial equity audit Of its hourly workers led by former attorney general Loretta lynch CNBC is now reporting that Amazon plans to conduct a racial equity audit of its hourly workers following calls by shareholders provide more transparency about how the company's policies affect diversity equity and workplace inclusion at the ecommerce giant This is going to be amazing I love watching people burn down their own companies I love when these people are unionizing lately I keep it up You guys are doing awesome In a recent securities filing Amazon say that the audit will evaluate any desperate radical impacts On nearly 1 million U.S. alley employees resulting from our policies programs and practices Amazon is employed the services of a law firm Paul Weiss and garrison to conduct the audit which will be led by former attorney general Loretta lynch a partner at the firm
The Mason Minute
Final Season (MM #3986)
"The NASA minute. With Kevin mason over the last 24 to 48 hours, the Internet has been freaking out just a little bit. Because some of their favorite television shows have announced the final seasons are coming near. Stranger Things getting ready to release season four has announced a two part season four and then season 5 and that's it. Now when we see season 5, I don't know because we haven't even seen season four yet, but everybody's freaking out. It's going to be ending. Same thing with The Marvelous Mrs. Maisel on Amazon. They announced the next season or is it the third season? I don't know. I don't watch. Well, it's going away. That'll be it and of course, because it's so popular. Everybody's freaking out there. And then Donald Glover announces his TV show on FX, Atlanta will be ending with its fourth season. The one thing for these shows, while I love them, they're so sporadic. I never know when they're coming. I know I watched Stranger Things when it first came out. Misses maisel don't watch it, don't care and Atlanta, love the first season, not so much the second season and well. I'm not sure if I'm going to go back and watch again. A lot of people's TV viewing habits going to be changing all because their favorite shows are going away.
The Mason Minute
Final Season (MM #3986)
"The NASA minute. With Kevin mason over the last 24 to 48 hours, the Internet has been freaking out just a little bit. Because some of their favorite television shows have announced the final seasons are coming near. Stranger Things getting ready to release season four has announced a two part season four and then season 5 and that's it. Now when we see season 5, I don't know because we haven't even seen season four yet, but everybody's freaking out. It's going to be ending. Same thing with The Marvelous Mrs. Maisel on Amazon. They announced the next season or is it the third season? I don't know. I don't watch. Well, it's going away. That'll be it and of course, because it's so popular. Everybody's freaking out there. And then Donald Glover announces his TV show on FX, Atlanta will be ending with its fourth season. The one thing for these shows, while I love them, they're so sporadic. I never know when they're coming. I know I watched Stranger Things when it first came out. Misses maisel don't watch it, don't care and Atlanta, love the first season, not so much the second season and well. I'm not sure if I'm going to go back and watch again. A lot of people's TV viewing habits going to be changing all because their favorite shows are going away.
Bloomberg Radio New York
"fx" Discussed on Bloomberg Radio New York
"Of FX strategy at sock Jen Given that you're calling the Euro is one 16 versus the dollar Do you see even further upside for the currency pair Yes eventually although I think it's going to be messy now There's certainly we started the year with the story being all about the fed hiking and above us not And I do think that the global recovery has got enough momentum that when we get through turbulence that we'll see in this adjustment in equities and other assets that we will start seeing a range of currencies do better against the dollar just because everyone's playing catch up on the policy front catch up on the recovery front Between now though and the middle of the year I think it could be awfully messy There will be days when I'll come in Look at what's happening to oil prices to equity prices because of the adjustment going on in the bond market And I'm just going to go oh and see a stronger dollar for a while So on days when everything's feeling very risk off and very very volatile The dollar will be strong When the clouds pass and the sun shines I suspect we'll see what we can build on the other from the other currencies do better and then in that world you're a dollar can end the year potentially higher than I think it will But I'm not going to focus hopefully on that while I try to navigate some of the turbulence that were bound to get now Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bluebird mobile app or check your local cable listings Markets headlines and breaking news 24 hours a day This is a Bloomberg business flash From Bloomberg's European headquarters in the City of London and lower right with this Bloomberg radio business flash Chinese mainland shares retrace yesterday's opening bounce TSI 300 down 9 tenths per percent weakness in Hong Kong PMI data contracting for the first time in 11 months as the city battles delta and Akron cases The hang sank down at 1.4% The regional outperformer the ASX 200 up 1% the Cosby flat to the upside looking ahead to.
The Garden Question
"fx" Discussed on The Garden Question
"Almost anywhere with three or four watts and I can create a light for you or your kids or your wife that's going out to check the trash at night. There's so many different things with lighting that people just overlook the fact that it's just for your landscape. You can compliment spaces in your yard. I know you've been to check the mail at night or you've been out to check on something. You're like, boy, it's dark over here. So I use mine in that way, too. It's more of a secure feeling when you've got the light. Agree. Yeah, that's a great point. You're exactly right. Lights are so versatile and they're so inviting. Tell the story all the time. I've been in the current house I'm in four years. We build it. And it's our dream house. We did all the lighting, of course, I have a beautiful walkway coming up with a water feature you go to. And the power went off one night and somehow reset my transform, right? And I don't know what happened. And I had the lights on. I've been there two years. I just love coming to my house at night and seeing the lights up. Seeing how beautiful it looks. Well, this night I was coming home and power flickered off. I didn't know it happened. I drove right past my own house. I didn't even realize because I was always looking for that beautiful, welcome home. Said, wait a minute. I just drove past my house. But it was completely dark, you know? When you come home or you're getting off from a long day, especially this time of the year, you come home as dark. Man, nothing says, welcome home like a bunch of uplight shot on your house and telling you to pull in here, you know? Exactly. Exactly. The system you're talking about where the lights are changing with the seasons are the different colors. Do you see those systems getting less expensive or are they still going to be really high price point? I think they're already much less expensive. I think that it depends on what you feel is the best utility. And when I say utility, you look at FX, big company in the market. And there are utility on their app and the way their system works is very different from a lot of the manufacturers..
Talks With John Podcast
"fx" Discussed on Talks With John Podcast
"Interesting one of the moms. Maybe maybe what. Would you like to act if i get to be your wife who depressive but i can play. I'm not but i play one on movies. Look light up like anything you know you know they. They pick the redheads. Shush is true. Tv don't overstay tv movies. You know. I know a lot of parents that have kids and most commercials just pop on screen danny on duty she. I'm here for danny here. Danny jersey out here. Danny danny finally learn to do not strong base david cassidy as older brother. Oh my team. They were oh terror. Well terror for the day. Yeah there's there so again you know you get into these shows and the behind the scenes that goes on is someone is just unfathomable to think about it. You know you're playing this part of the partridge family. Yeah which is so insanely mother. Goose so saccharin. It was with the monkeys. Look like worn. God i hear you say that. Well it's like the monkeys sick all god. I know you really these guys live together. In this i know apartment you know with a mannequin and all these hodges family took it one more into the unfathomable that was just overly saccharin you know and then you get the kids. That don't really play. they're faking a love with. Oh name me a girl on earth. That wasn't she gets a work with them. I know who i know. Of course shirley yeah. I thought she did a pretty good job on that or a rock and roll mom. Yeah and then the silly manager they had a well. I love him. Dave madden dave. Man ruben can cade ruined yeah right he was too dumb. I'm just saying it's part of the fun. Yeah i loved him from levin. Though how many seasons that go that went three three cs three three as i recall pretty good a couple monkeys went to to yeah before the guy started effecting right washed head the other day i know i still have it and was watching with. He's gonna jump yup. Yeah yeah oh yeah. And then at the end the all jumped to the focus on yup because they had there was no other way out right
Talks With John Podcast
"fx" Discussed on Talks With John Podcast
"You're right It's like all the interviews that i've done with all these people from the fifty s and sixty s and seventy s musicians. They're sitting here. I know but here's what it is. You know. I got those. Because i had those friendships. And those connections and the trust right of some of those musicians never talked to anybody. And i'm scared to put them out there because you know with technology as it is today it'd be so simple lifting of in their own context right the voice. The question themselves. Like i'm the one who got this interview with bobby hatfield. No you didn't. But i know is nothing chancy take i know i know because what you've got is a treasure trove. I know i mean brilliant stuff another female jock friend of mine as far more than i have an interviewing artists on the airplane and she ended up giving them to the rock and roll hall of fame because she didn't want them just floating above. She's protected. Yeah yeah they won't be misused bri. She did that. There's got to be ways of archiving them where the public can have access to them. Well you can download them. You can own them. You know how that is now. I'm not gonna give them to the rock and roll hall of fame. Because you know i don't like the rock and roll hall of fame so yeah got my issues with just noisiest hack. Well that's your phone in. That's how popular you are. Yeah i mean how many minutes go by between calls to you you make a movie. Well yeah i do know that. I'm kind of co-producing it's you did. You sent me some of that video well and that was me. I'm filming and directing even though that's not the end product is just kind of an idea. Yeah of this about a band. Who's you talk about something that you could've physics no. I don't think so right. Yeah i went into that going. How i'm going to look at this. I was under the wrath of carl. How well because listen. You can be quiet. You criticism means a lot to me. Well i always honest with you. And i went into it thinking out here. What's he on now. And as you know i was like wow would good i really really scout and again you just seeing kind of a conceptual right pins but it. It was kurth. Well the idea of if i may it's it's four labs in today's world los angeles. I'm using los angeles because it's been a long time and you know it pretty well now and it's still the media sense of the world and if you're going to try and make it where you go. Everybody tries to go to hollywood or new york broadway. Yeah yeah in theater. Yeah for rock and roll. It's still always wanted. So but the idea. Is these four lancet born out of their time. Well a lot of people are a lot of people are about will you..
Talks With John Podcast
"fx" Discussed on Talks With John Podcast
"He took the whole way that resolved very hard because he had had a personal video camera onset one day and was just taking some shots and bob was like. What's that. What's that right and showed him. And bob wanted one and turned him onto where to get one business. That you've got into an richard. I kinda thought. Oh if i had turned him onto that camera outta netflix rana opponents. Zero's just as a sidebar got this whole discussion fascinating you know you know. I know my sister i. I have a lot of friends who were on some of those older wild but yeah yeah i know we started talking about well. The you keep you get me off attention to i got a friend. Seve altman who. He's a producer director and writer and musician. He works with here buddy around well. He came to me though he said. I've got this guy. I hope i get name. I think his name is steve. Earle okay no way back when talking about special effects. He used to live in the valley. Tom and i've been to his home in his pool. There's a submarine. His convinces gara- he's got like a star trek. Sounds like my kinda guy horror mess. Well he created mac tonight. I remember the moon sheep phasing. Yeah that was kind of the precursor of maxine room. Max who makes sense..
KLIF 570 AM
"fx" Discussed on KLIF 570 AM
"Vast FX, it's incredibly powerful and versatile. It helps you stay in the game of life. Stay energized, active alert, healthy and even stronger. That is impressive on so many levels so much breathe information there, and I know this last is Anthony has about a dozen patents to I'm looking here. There's a patent for promoting eye health and reducing eye fatigue. There's a patent for inhibiting the expression aside all kinds and cells and a patent. Get this on composition for body fat reduction. There's one for improving muscle atrophy and older adults sharing. I like to be a little bit of a skeptic here. How can this one simple nutrient? Magically Do all of this happen is asked to FX give us so many benefits. I mean, really, Yeah, I know it's it sounds amazing, too good to be true. But it really is true. Many of the studies that I'm referencing here they're available on Top med. These air, reputable clinical studies conducted by leading researchers around the world that really back the benefits of asked Sanson, by the way, muscle output is better with us. Xanthan too, And this comes from ASA Xanthan research published in the International Journal of Fourth Nutrition November 2011. This was another study done with cyclists. They took four mg of acid xanthan. It was a small study but very positive showing that cyclist improved their trial time by two minutes in a 20 kilometer bike race. I mean, that's a meaningful improvement in a race like this, and the researchers said that they also burned That more efficiently, which makes sense. Based on this research, purity can actually make the claim that asked. The effects will promote and improve power output in your muscles. I mean, I tell people asked the effects in his strength and power out. It's transformative if you like energy, and this was found in other studies to like one that looked at hand grip strength, so much great information of sherry. I want to share a couple more testimonials that caught my attention out of so many right there on the purity website again. These air unsolicited these air from real people. Here's one from Rick. He's a male aged 55 to 64 lives in Naples, Florida, He writes this what a great product asked. The FX has been for me after starting taking Asta affects my workout and strength has increased as if I were in my twenties again, and I've only been on asked affects for two months now can't wait to see the long term effect. I look forward to taking Asta FX every morning for my afternoon workouts. I'll be taking this product for a long time. There's Dede. She's a female age 45 to 54th lives in Laurel Park, North Carolina. She writes. This quote I've been using asked the FX for a month. Now I can see the difference in my energy level. I now have more energy feel better Since taking this product. I can actually see a difference in my skin as well. I'm a smoker who has smoking lines around my mouth, but the lines have diminished about 50%. Overall. I am so thrilled with my energy level. I love this product, just couple of samples from the real people who have responded. Impurities, website and cherry. I'm looking at the list of patents again on this Asta xanthan compound. This is where the science the research backs up. What we're talking about. This is just flat out amazing and sharing. A lot of people out there are going to think what I'm going to stay here Sounds a little bit odd. But you said before the show this supplement may even Help people drive a car better or use the computer more comfortably. Amazing. Come on. How does this happen? It does sound funny, but as death tax may actually help in these areas to and and here's why one of the interesting things about us xanthan is that it's a relative of vitamin A, and we know that vitamin E is good fries. Good supervision asked to Stanton is too. As Santa's actually been shown to fight oxidation in eye tissue. The scientists did a study where they found a 46% improvement in a measurement called depth perception, no depth perception. That's our ability to determine distances between objects are basically to see in three dimensions. And researchers. They studied a handball team specifically looking at how quickly they could change focus. And guess what. The handball team that was supplementing with asked advancing. They were able to improve their accuracy and improve their performance in the depth perception test. Other researchers also shown that ask present that helps reduce eye fatigue and you know when you're on a computer, that's a big deal. Everyone's on computers these days and for long periods of time, and it's hard on her eyes. And we know that if you're driving a car it it's late at night, and your reaction time is slow. That's not good at present and actually helps the eyes focus and refocus. Dr Hecht, PhD, one of the leading researchers at asked a real says that the product actually helps your eyes be more resilient. You see better with it. Your eyes they're healthier. I mean, who doesn't love those benefits? Again. We're talking with pharmacists and health authors Sherry tacos about our free bottle offer from purity products, talking about asked to FX so much ground to cover sherry. I'm gonna get back to the skin benefits in this issue of wrinkle reduction and not I repeat, not as a cream or is a lotion. But as a capsule, you take it orally. This patent also covers this. You say this ingredient is proven to reduce wrinkles and not just by a little. We're talking a dramatic amount. What's going on with this? Yeah, I know it's It's fascinating, a huge benefit. People want to look younger. I know I do. And I've noticed significant benefits since I've started taking it. But it's a science here that really shines the whole concept of taking Orel supplements to improve skin health, relatively new concept here in North America, But in Japan, this is mainstream. After Stanton is already one of, if not the most successful ingredients in a new class of products called Cosmos. Ooh, tickles or supplements that you take Orly to enhance the cosmetic appearance of your skin. So listen to this. In one study, they gave four mg about xanthan, which, by the way, is the actual amount you get impurities asked a sax and the skin benefits for dramatic within six weeks, every single person in the treatment group 100% of participants in the study reported that their skin had improved significantly. Everybody got results, fine lines, hydration elasticity all improved. Listen to this. The participants experienced about 50% improvement and dryness, moisture,.
NewsRadio WIOD
"fx" Discussed on NewsRadio WIOD
"But before we do that cherry charity uses this natural form of asked Xanthan, Not that synthetic cheaper form like you find out there in the market. This is really important as well. Correct. Yeah. We need to do your homework when choosing supplements, and that's what I did as Steph excuses 4 MG of the world's most clinically researched natural form of asked Xanthan called Aster. Real Very tacos, pharmacist and author is with us here on the program. Sherry we learned today that asked his Anthony's 6000 times more powerful by this one measurement of antioxidant activity when compared to vitamin C This asked to FX has so much power purity has something like 100, plus unsolicited testimonials on their website, and I found a couple that I especially enjoy if I could read a couple of those. I think this is very, very interesting if it's okay with you here, I think it's great to share feedback from people that are really taking the product. Yeah, here's one from Ava in Texas, she gives asked the FX Five stars and she writes quote after taking ASTA affects my son was visiting us and said, Mom, you looked useful. I'm a purity products customer for the last three years and will never go back. That's from Ava. Here's one from Nina and Ottawa, Ontario, as she's in the age group. 45 to 54 gives it another five star review, She says. This quote since taking ASTA FX. I've felt so much better. My energy level, I would say has gone from a three to a 10. How about that? She says. So I feel energized whenever taking my husband even notice. I no longer complain about housework. Well, I've talked about this amazing product. All my family and friends. I'm sure they see how well I look because I feel great from the inside out. I've even noticed my skin appears healthier, too. I feel like a fountain of youth. Now that's That's pretty good stuff from actual customers who've been trying asked FX and Sherry you mentioned before we started the show. You've been taking this product to yourself, and I know knowing you for some time. It's worked very well for you, hasn't it? It has. You know, I've been taking it for about two years now, and people are often surprised to hear that I'm 50. They tell me that I look more like a 35. Which is nice to hear. I do eat healthy. I exercise regularly. But I'm also strong believer in the benefits of taking research based supplements. And I take asked FX every day to stay strong, healthy to keep my energy levels up and for my skin. I mean, I want to do everything I can to stay useful. And to keep my body of sharp and also to prevent some of those issues that can arise as we age. Great information was Sherry tacos will get back to her in just a moment..
KSFO-AM
"fx" Discussed on KSFO-AM
"This fast FX. It's incredibly powerful and versatile. It helps you stay in the game of life stay energized, active, alert, healthy and even stronger. That is impressive on so many levels so much read information there, And I know this last is. Anthony has about a dozen patents to I'm looking here. I see. There's a patent for promoting eye health and reducing eye fatigue. There's a patent for inhibiting the expression of sight. Oh kinds and cells and a patent. Get this on composition for body fat reduction. There's one for improving muscle atrophy and older adults sharing. I'd like to be a little bit of a skeptic here. How can this one simple nutrient? Magically. Do all of this happen his ass to FX Give us so many benefits. I mean, really, Yeah, I know it's it sounds amazing, too good to be true. But it really is true. Many of the studies that I'm referencing here they're available on Pub Med. These air, reputable clinical studies conducted by leading researchers around the world that really back the benefits of asked Sanson, by the way, muscle output is better with us. Is Anson to And this comes from ASA Xanthan research published in the International Journal of Words. NUTRITION November 2011. This was another study done with cyclists. They took 4 MG of acid xanthan. It was a small study but very positive showing that cyclist improved their trial time by two minutes in a 20 kilometer bike race. I mean, that's a meaningful improvement in a race like this, and the researchers said that they also burned fat more efficiently, which makes sense. East on this research. Purity can actually make the claim that asked. The effects will promote and improve power output in your muscles. I mean, I tell people asked the effects in whose strength and power out it's transformative if you like energy, and this was found in other studies to like one that looked at hand grip, strength information just tuning in. We're talking with pharmacist and author Sherry tacos here. I'm your host Mark Larsen on this hand grip study the you mentioned. I understand. They're this involved What a 12 mg dose and they saw a 93% boost in hand strength and people who struggled with well at tennis elbow Now that's a big deal, but our listeners might be saying Well, okay, maybe I don't play tennis. What about me? What does it mean for may, right, right. So think about this, a 93% increase in a person who has some repetitive stress in their elbow. It's an almost doubling in hand strength. So just think about all the things that you do in your daily life. Picking up groceries, your kids your grandkids gripping the steering wheel of a car playing golf for tennis, gardening or.
Newsradio 970 WFLA
"fx" Discussed on Newsradio 970 WFLA
"Sherry we learned today that asked his Anthony's 6000 times more powerful by this one measurement of antioxidant activity when compared to vitamin C This asked to FX has so much power purity has something like 100, plus unsolicited testimonials on their website, and I found a couple that I especially enjoy if I could read a couple of those, I think this is very Very interesting if it's okay with you here, I think it's great to share feedback from people that are really taking the product. Yeah, Here's one from Ava in Texas, she gives asked the FX five stars and she writes quote after taking Asta affects my son was visiting us and said, Mom, you look youthful. I'm a purity products customer for the last three years and will never go back. That's from Ava. Here's one from Nina and Ottawa, Ontario, as she's in the age group. 45 to 54 gives it another five star review, She says. This quote since take King asked the FX. I felt so much better. My energy level, I would say has gone from a three to a 10. How about that? She says. So I feel energized whenever taking my husband even notice. I no longer complain about housework. Well, I've talked about this amazing product on my family and friends. I'm sure they see how well I look because I feel great from the inside out. Even noticed. My skin appears healthier, too. I feel like a fountain of youth. Now that's that's pretty good stuff from actual customers who've been trying asked, affects and share you mentioned before we started the show. You've been taking this product for yourself, and I know knowing you for some time. It's worked very well for you, hasn't it? It has. You know, I've been taking it for about two years now, and people are often surprised to hear that I'm 50. They tell me that I look more like a 35. Which is nice to hear. I do eat healthy. I exercised regularly. But I'm also strong believer in the benefits of taking research based supplements, and I take asked FX every day to stay strong, healthy. To keep my energy levels up and for my skin, I mean, I want to do everything I can to stay youthful and to keep my body sharp and also to prevent some of those issues that can arise as we age. Great information with Sherry tacos will get back to her in just a moment..
NewsRadio KFBK
"fx" Discussed on NewsRadio KFBK
"FX. It's incredibly powerful and versatile. It helps you stay in the game of life stay energized, active alert, healthy and even stronger. That is impressive on so many levels so much great information there, And I know this last is Anthony has about a dozen patents to I'm looking here. I see. There's a patent for promoting eye health and reducing eye fatigue. There's a patent for inhibiting the expression aside, all kinds and cells and a patent. Get this on composition for body fat reduction. There's one for Proving muscle atrophy and older adults sharing. I'd like to be a little bit of a skeptic here. How can this one simple nutrient magically do all of this happen? Is asked to FX give us so many benefits. I mean, really, Yeah, I know it's it sounds amazing, too good to be true, But it really is true. Many of the studies that I'm referencing here they're available on Pub Med. These air, reputable clinical studies conducted by leading researchers around the world that really back the benefits of asked Sanson, by the way, muscle output is better with us. Xanthan, too. And this comes from Master xanthan research, published in the International Journal of Sports Nutrition November 2011. This was another study done with cyclists. They took 4 MG of Asa's Hampton. It was a small study but very positive showing that cyclist improved their trial time by two minutes. In a 20 kilometer bike race. I mean, that's a meaningful improvement in a race like this, and the researchers said that they also burned fat more efficiently, which makes sense. Based on this research. Purity can actually make the claim that asked. The effects will promote and improve power output in your muscles. I mean, I tell people asked the effects in whose strength and power out it's transformative if you like energy, and this was found in other studies to like one that looked at hand grip strength, so much great information of sherry. I want to share a couple more testimonials to caught my attention out of so many right there on the purity website again. These air Unsolicited these air from real people. Here's one from Rick. He's a male aged 55 to 64 lives in Naples, Florida, He writes this what a great product asked. The FX has been for me after starting taking Asta affects my workout and strength has increased as if I were in my twenties again, and I've only been on asked affects for two months now can't wait to see the long term effect. I look forward to taking Asta FX every morning for my afternoon workouts. I'll be taking this product for a long time. There's Dede. She's a female age 45 to 54th lives in Laurel Park, North Carolina. She writes. This quote I've been using asked the FX for a month. Now I can see the difference in my energy level. I now have more energy feel better Since taking this product. I can actually see a difference in my skin as well. I'm a smoker who has smoking lines around my mouth, but the lines have diminished about 50%. Overall. I am so thrilled with my energy level. I love this product, just couple of samples from the real people who have responded. Impurities, website and cherry. I'm looking at the list of patents again on this Asta xanthan compound. This is where the science the research backs up. What we're talking about. This is just flat out amazing and a sherry. A lot of people out there are going to think what I'm going to say here sounds a little bit odd. But you said before the show this supplement may even help people drive a car better or use the computer more comfortably. Amazing. Come on. How does this happen? It does sound funny, but as Jeff Sachs may actually help in these areas to it, and here's why one of the interesting things about asked Xanthan Is that it's a relative of vitamin A, and we know that vitamin E is good fries. Good provisions asked to Stanton is to ask the sand has actually been shown to fight oxidation in eye tissue. Scientists did a study where they found a 46% improvement in a measurement called depth perception. Now depth perception that's our ability to determine distances between objects are basically to see in three dimensions. And researchers. They studied a handball team specifically looking at how quickly they could change focus. And guess what? The handball team that was supplementing with us to xanthan. They were able to improve their accuracy and improve their performance in the depth perception test. Other research is also shown that ask present and helps reduce eye fatigue. And you know when you're on a computer, that's a big deal. Everyone's on computers these days and for long periods of time, and it's hard on her eyes. And we know that if you're driving a car, and it's late at night, and your reaction time is slow. That's not good. Asked his aunt and actually helps the eyes focus and refocus. Dr Hecht, PhD, one of the leading researchers at asked a real says that the product actually helps your eyes be more resilient. You see better with it your eyes they're healthier. I mean, who doesn't love those benefits again? We're talking with pharmacists and health authors Sherry tacos about our free bottle offer from purity products talking about ass to FX so much ground to cover Sherry. I'm gonna get back to the skin benefits in this issue of wrinkle reduction and not I repeat, not as a cream or is a lotion, but as a capsule, you take it orally. This patent also covers this. You say this ingredient has proven to reduce wrinkles and not just by a little. We're talking a dramatic amount. What's going on with this? Yeah, I know it's It's fascinating, a huge benefit. People want to look younger. I know I do. And I've noticed significant benefit since I've started taking it. But it's a science here that really shines the whole concept of taking Orel supplements to improve skin health, relatively new concept here in North America, But in Japan, this is mainstream asked. Sanson is already one of, if not the most successful ingredients in a new class of products called Cause Massu tickles or supplements. You take orally to enhance the cosmetic appearance of your skin. So listen to this. And one study they gave 4 MG of asked Xanthan, which, by the way, is the actual amount you get impurities asked FX and the skin benefits for dramatic within six weeks, every single person in the treatment group 100% of participants in the study. Reported that their skin had improved significantly. Everybody got results, fine lines, hydration elasticity all improved. Listen to this. The participants experienced the book 50% Improvement and dryness..