40 Burst results for "Nick"
A highlight from UNCHAINED: Heres How Sam Bankman-Frieds High-Stakes Trial Could Play Out
"Arbitrum's leading layer two scaling solution offers you ultra cheap and lightning fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. Today's guest is Nick Day, Coindesk's managing editor for global policy and regulation. Welcome, Nick. Thanks for having me. The trial for former FTX CEO Sam Bankman -Fried starts next Tuesday, October 3rd. There's been a lot happening pre -trial. For instance, Sam has requested release from jail multiple times and repeatedly been denied, including as recently as Thursday morning. My personal thought was that it seemed like all these requests that the defense was putting in at this critical juncture right before the trial was supposed to begin was maybe not the best use of their time, but that's just my personal opinion. I'm not a lawyer. Why do you think they made this such a point of focus in the last few days? Yeah. So I'm actually coming, you know, I was in the courthouse just a few hours ago where this very issue was brought up and the, you know, defense's arguments were, well, the first time we asked it was for pre -trial release. You know, this was right after Bankman -Fried was remanded into custody in mid -August. The second time was, you know, they were asking an appeals court to overrule the judge's decision to remand him and they lost that as well. In court today, the defense said, well, you know, now we want to ask for during trial, which is why we waited until this week to make that request. And they say that they want to, you know, the circumstances are different. They're not asking for Bankman -Fried to be released from jail in the weeks leading up to trial. Now they're saying, well, you know, during the trial, we're going to have to talk to him and check with him about defense witness testimony and cross -examination and things like that. So that's why we're making this request. And the judge didn't really find that compelling. And why do you think the judge has stuck to this position of keeping Bankman -Fried in jail? So in the judge's words, there's a couple of different reasons. One being that Bankman -Fried has had ample time to look at the defense materials. You know, one of the arguments was there are something like 1300 exhibits expected over the course of the trial. And the judge asked today, you know, were these all prepared and shared with you before, I think he said September 8th, so earlier this month. And the defense, they said, yes, we've seen all of this. We've had access to all of this. Bankman -Fried was out on bail for about seven and a half months. And so the judge's argument is, well, he's had time to look at this. You know, there's no surprises here. And he said that the defense has the chance to talk with Bankman -Fried in the Metropolitan Detention Center where he's currently being housed weekends during days that there are no trials. So, you know, the trial is not every weekday. It's going to be most weekdays. And he said, you know, you have the time, you have the opportunity, you are able to talk to your client. You're not really losing a whole lot. But he added kind of a, you know, made this ruling where Bankman -Fried will even be presented to the courthouse early on trial days where there's certain witness testimony that has to be discussed and let the attorneys just talk to him before the trial begins on those days. So he's saying basically, you know, you have opportunities to talk to your client and I'm going to give you more time to do so, but I'm not going to let Bankman -Fried out of jail. So the main focus next week as the trial begins will be jury selection. Tell us what you think that process will be like. It definitely will be interesting. I think it's probably going to be very boring from just kind of an observer perspective because it's a long process and we're going to be just sitting there watching this judge ask each individual, have you heard of FTX? Have you heard of Bankman -Fried? What do you think about cryptocurrencies? But it's going to be very interesting because this is the part where we're really going to get a sense of, okay, you know, these are the 12 or so people who are going to determine whether or not Bankman -Fried spends the next, you know, 10 to 20 years of his life behind bars and so I'm expecting to see maybe as mixed selection. I think if you pluck a random group of New Yorkers off the streets, some of them may have heard of cryptocurrency. Most of them probably will not have and they're going to be tasked with deciding whether or not one of the biggest figures in crypto committed fraud on the way up and on the way down. Something that was interesting to me was the prosecution said that they expected jury selection to take the better part of a day. I've seen some legal opinions that it will take longer than that. What do you think could potentially happen there and why do you think some analysts are saying that it would take longer? Yeah, no, I've spoken to a number of lawyers as well ahead of the trial, you know, where at Coindes we're trying to do a lot of kind of preview coverage, basically saying here's how it might go down. Everyone I spoke to said it will probably take a couple days. Part of that is because this is a fairly notorious case. A lot of people will have heard about Bankman -Fried and presumably formed some kind of opinion that would, you know, disqualify them from being a juror on the trial. I'm not sure where the DOJ is getting their estimate from. It's very possible that, you know, through the questionnaires that the jury pool is sent through the, you know, the kind of the mass selection process or deselection process that the judge engages in. Maybe that streamlines a big part of it by kind of, you know, reducing or like immediately filtering out the people who are most blatantly, you know, either knowledgeable or biased or otherwise have their own preformed viewpoints about the case. And so the jury selection might just be focused on, you know, those individuals who have made it through those initial filtering processes. But that's speculation on my part. I honestly am not sure if it is a better part of the day that we could see opening statements as soon as next Wednesday, October 4th, which would be a pretty rapid start to the trial. And Coindesk did some work to try to suss out what it is that Lower Manhattan New Yorkers might say if they were randomly picked for a jury. What did you discover there? Yeah, no. So Coindesk's Dylan and Victor went to Manhattan, downtown Manhattan to the financial district, and literally just went up to people and said, hey, we're with Coindesk. Have you heard of FTX? Have you heard of Sam Bankman Fried? And a fairly large part of this group just hadn't heard about it. You know, they weren't familiar with it. They weren't comfortable talking about crypto. They weren't familiar with crypto. And of those who were, you know, I think they found a fairly even mix. There were some individuals who had heard about Bankman Fried, some individuals who had only heard about crypto, some individuals who were very knowledgeable. They actually found a, you know, a Yahoo anchor who was the most knowledgeable about it, naturally, as you know, a reporter covering the financial space. But they also found people who were looking for jobs in crypto, people who were investors in the space. By and large, it seems to, you know, a lot of the people they spoke to just weren't interested or talking, interested in talking about crypto or in, you know, being part of this, being part of crypto. So if that is a representative sample of who we'll see next week at the jury pool, it'll be interesting because we'll see a large, potentially large, jury pool of people who aren't familiar with crypto. Again, on one of the biggest, you know, bang in on one of the biggest figures in the space. Recently, the defense proposed certain questions that it would ask the jurors and the government said that they felt these were quote unquote intrusive. What were some of the questions that were proposed and what was the government's response? Yeah. So, you know, the background here is both the DOJ and the defense team filed their proposed jury questions to help filter potential jurors. The defense team in particular had a number of questions about, you know, how these potential jurors felt about things like effective altruism, about political donations, about ADHD and people who have ADHD. And the DOJ response was really, you know, they felt that some of these questions, for example, about effective altruism and about political donations seemed kind of primed to or designed to prime the potential jurors to think, oh, well, Bankman Fried was trying to do all of this in service of this effective altruism philosophy. Therefore, he was trying to raise money to donate to better the world or designed to try and prime the jury to think, okay, well, you know, political donations is fine. So these allegations about breaking the law in the way he tried to donate funds maybe is, you know, overreach or whatever. And then the intrusive part, you know, treating just kind of this question of ADHD and whether or not people were, you know, involved with individuals who had it or the DOJ just felt that these questions were really designed to try and shape how the jury would see Bankman Fried as opposed to just kind of gauge their existing biases. And so the DOJ opposed these questions. And I think we're still waiting to see for sure if there's any public response on the judge prior to jury selection on Tuesday. All right. So in a moment, we're going to talk about different legal strategies that the defense might pursue. But first, a quick word from the sponsors who make this show possible. Arbitrum stands at the forefront of innovation as the premier suite of Layer 2 scaling solutions, bringing you lightning fast transactions at a fraction of the cost, all with security rooted on Ethereum. From DeFi to gaming, Arbitrum 1 plus Nova is home to over 500 projects. And with the recent launch of Orbit, Arbitrum welcomes you to build your very own Taylor Layer 3 or an Orbit chain. Propel your project and community forward by visiting arbitrum .io today. Toku makes managing global token compensation and incentive awards simple. Are you designing your token compensation plan and grant templates with multiple law firms? Are you managing cliffs, vesting and taxable events in a spreadsheet? Are you distributing tokens to your team manually? With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Easy to use token grant award templates, vesting tracking via online dashboard, tax withholding integration with payroll, automated distributions, great employee experience. Make it simple with Toku. Learn more at toku .com slash Unchained.
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"The world last year our employees dedicated 366 ,000 hours to volunteer work through mentorships community service and participation with nonprofit organizations we aim to be a positive force for change helping the communities we call home today to support a brighter tomorrow learn more about our community reach at Boeing .com slash communities is the lunch rush at your local deli orders are flying in online on the phone and in person order for Nick so is it possible that fast internet can help your business outrun the rush it is with Comcast business up leveling your speed with gig speed Wi -Fi powering all your devices and fast downloads and uploads
A highlight from Heres How Sam Bankman-Frieds High-Stakes Trial Could Play Out - Ep 549
"Even though each of these charges, if you look at the DOJ press release says, oh, it contains a maximum sentence of 20 years or five years, whatever, it's not going to be consecutive. It'll be concurrent. So the estimate I'm getting from various attorneys that I've spoken to over the past few weeks is it'll probably be somewhere in the, you know, 10 to 20 year range. Hi everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full time. This is the September 29th, 2023 episode of Unchained. Thinking of launching your own stable coin? Start with the open source stable coin studio toolkit on Hedera. Start your journey at Hedera .com slash Unchained. Shape tomorrow today. With the crypto .com app, you can buy, trade and spend crypto in one place. Download and get $25 with the code Laura. Link in the description. Arbitrum's leading layer two scaling solution offers you ultra cheap and lightning fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. Today's guest is Nick Day, Coindesk's managing editor for global policy and regulation. Welcome, Nick. Thanks for having me. The trial for former FTX CEO Sam Bankman -Fried starts next Tuesday, October 3rd. There's been a lot happening pre -trial. For instance, Sam has requested release from jail multiple times and repeatedly been denied, including as recently as Thursday morning. My personal thought was that it seemed like all these requests that the defense was putting in at this critical juncture right before the trial was supposed to begin was maybe not the best use of their time, but that's just my personal opinion. I'm not a lawyer. Why do you think they made this such a point of focus in the last few days? Yeah, so I'm actually coming, you know, I was in the courthouse just a few hours ago where this very issue was brought up and the defense's arguments were, well, the first time we asked, it was for pre -trial release. You know, this was right after Bankman -Fried was remanded into custody in mid -August. The second time was, you know, they were asking the appeals court to overrule the judge's decision to remand him. And they lost that as well. In court today, the defense said, well, you know, now we want to ask for during trial, which is why we waited until this week to make that request. And they say that they want to, you know, the circumstances are different. They're not asking for Bankman -Fried to be released from jail in the weeks leading up to trial. Now they're saying, well, you know, during the trial, we're going to have to talk to him and check with him about defense witness testimony and cross -examination and things like that. So that's why we're making this request. And the judge didn't really find that compelling. And why do you think the judge has stuck to this position of keeping Bankman -Fried in jail? So in the judge's words, there's a couple of different reasons. One being that Bankman -Fried has had ample time to look at the defense materials. You know, one of the arguments was there are something like 1300 exhibits expected over the course of the trial. And the judge asked today, you know, were these all prepared and shared with you before, I think he said September 8th, so earlier this month. And the defense, they said, yes, we've seen all of this. We've had access to all of this. Bankman -Fried was out on bail for about seven and a half months. And so the judge's argument is, well, he's had time to look at this. You know, there's no surprises here. And he said that the defense has the chance to talk with Bankman -Fried in the Metropolitan Detention Center, where he's currently being housed weekends during days that there are no trials. So, you know, the trial is not every weekday. It's going to be most weekdays. And he said, you know, you have the time, you have the opportunity, you are able to talk to your client. You're not really losing a whole lot. But he added kind of a, you know, made this ruling where Bankman -Fried will even be presented to the courthouse early on trial days where there's certain witness testimony that has to be discussed and let the attorneys just talk to him before the trial begins on those days. So he's saying basically, you know, you have opportunities to talk to your client and I'm going to give you, you know, more time to do so, but I'm not going to let Bankman -Fried out of jail. So the main focus next week as the trial begins will be jury selection. Tell us what you think that process will be like. It definitely will be interesting. I think it's probably going to be very boring from just kind of an observer perspective because it's a long process and we're going to be just sitting there watching this judge ask each individual, you know, have you heard of FTX? Have you heard of Bankman -Fried? What do you think about cryptocurrencies? But it's going to be very interesting because this is the part where we're 12 or so people who are going to determine whether or not Bankman -Fried spends the next, you know, 10 to 20 years of his life behind bars. And so I'm expecting to see maybe as mixed selection. I think if you pluck a random group of New Yorkers off the streets, some of them may have heard of cryptocurrency, most of them probably will not have, and they're going to be tasked with deciding whether or not one of the biggest figures in crypto committed fraud on the way up and on the way down. Something that was interesting to me was the prosecution said that they expected jury selection to take the better part of a day. I've seen some legal opinions that it will take longer than that. What do you think could potentially happen there and why do you think some analysts are saying that it would take longer? Yeah, no, I've spoken to a number of lawyers as well ahead of the trial, you know, where at Coindes we're trying to do a lot of kind of preview coverage, basically saying here's how it might go down. Everyone I spoke to said it will probably take a couple of days. Part of that is because this is a fairly notorious case. A lot of people will have heard about Bankman Fried and presumably formed some kind of opinion that would, you know, disqualify them from being a juror on the trial. I'm not sure where the DOJ is getting their estimate from. It's very possible that, you know, through the questionnaires that the jury pool is sent through the, you know, the kind of the mass selection process or deselection process that the judge engages in, maybe that streamlines a big part of it by kind of, you know, reducing or like immediately filtering out the people who are most blatantly, you know, either knowledgeable or biased or otherwise have their own preformed viewpoints about the case. And so the jury selection might just be focused on, you know, those individuals who have made it through those initial filtering processes. But that's speculation on my part. I honestly am not sure if it is a better part of the day that we could see opening statements as soon as, you know, next Wednesday, October 4th, which would be a pretty rapid start to the trial. And Coindesk did some work to try to suss out what it is that lower Manhattan New Yorkers might say if they were randomly picked for a jury. What did you discover there? Yeah, no, so Coindesk's Dylan and Victor went to Manhattan, downtown Manhattan to the financial district, and literally just went up to people and said, hey, we're with Coindesk. Have you heard of FTX? Have you heard of Sam Bankman -Fried? And a fairly large part of this group just hadn't heard about it. You know, they weren't familiar with it. They weren't comfortable talking about crypto. They weren't familiar with crypto. And of those who were, you know, I think they found a fairly even mix. There were some individuals who had heard about Bankman -Fried, some individuals who had only heard about crypto, some individuals who were very knowledgeable. They actually found a, you know, a Yahoo anchor who was the most knowledgeable about it naturally as, you know, order covering the financial space. But they also found people who were looking for jobs in crypto, people who were investors in the space. By and large, it seems to, you know, a lot of the people they spoke to just weren't interested or talking, interested in talking about crypto or in, you know, being part of this, being part of crypto. So if that is a representative sample of who we'll see next week at the jury pool, it'll be interesting because we'll see a large, potentially large, jury pool of people who aren't familiar with crypto. Again, on one of the biggest, you know, bang in on one of the biggest figures in the space. Recently, the defense proposed certain questions that it would ask the jurors and the government said that they felt these were quote unquote intrusive. What were some of the questions that were proposed and what was the government's response? Yeah. So, you know, the background here is both the DOJ and the defense team filed their proposed jury questions to help filter potential jurors. The defense team in particular had a number of questions about, you know, how these potential jurors felt about things like effective altruism, about political donations, about ADHD and people who have ADHD. And the DOJ response was really, you know, they felt that some of these questions, for example, about effective altruism and about political donations seemed kind of primed to, or designed to prime the potential jurors to think, oh, well, Bankman Fried was trying to do all of this in service of this effective altruism philosophy. Therefore, he was trying to raise money to donate to better the world or designed to try and prime the jury to think, okay, well, you know, political donations is fine. So these allegations about breaking the law in the way he tried to donate funds maybe is, you know, overreach or whatever. And in the intrusive part, you know, treating just kind of this question of ADHD and whether or not people were, you know, involved with individuals who had it or the DOJ just felt that these questions were really designed to try and shape how the jury would see Bankman Fried as opposed to just kind of gauge their existing biases. And so the DOJ opposed these questions and I think we're still waiting to see for sure if there's any public response on the judge prior to jury selection on Tuesday. All right. So in a moment, we're going to talk about different legal strategies that the defense might pursue. But first, a quick word from the sponsors who make this show possible. Arbitrum stands at the forefront of innovation as the premier suite of Layer 2 scaling solutions, bringing you lightning fast transactions at a fraction of the cost, all with security rooted on Ethereum. From DeFi to gaming, Arbitrum 1 plus Nova is home to over 500 projects. And with the recent launch of Orbit, Arbitrum welcomes you to build your very own tailor -made Layer 3 or an Orbit chain. Propel your project and community forward by visiting arbitrum .io today. Toku makes managing global token compensation and incentive awards simple. Are you designing your token compensation plan and grant templates with multiple law firms? Are you managing cliffs, vesting and taxable events in a spreadsheet? Are you distributing tokens to your team manually? With Toku, you get unmatched legal and tax tech support to grant and administer your global team's easy -to -use token grant award templates, vesting tracking via online dashboard, tax withholding integration with payroll, automated distributions, great employee experience. Make it simple with Toku. Learn more at toku .com. Looking to venture into the world of stablecoins? Explore the open -source stablecoin studio toolkit on Hedera. Whether you're building the next big thing in Web3 or an enterprise banking and payment provider, Stablecoin Studio simplifies stablecoin issuance and management, keeping you at the forefront of on -chain finance. With seamless integration into commercial custody providers and KYC services and built -in proof of reserve functionality, Stablecoin Studio streamlines development and time to market. Harness the power of stablecoins by visiting hedera .com slash unchained. Back to my conversation with Nick. Recently, the defense did propose a number of witnesses, but the judge denied most of them. Who were these proposed witnesses and why were they denied? Yeah, so the DOJ and defense both had a number of proposed expert witnesses. The defense in particular had a number of individuals that they said could speak to everything from the terms of service that FTX operated under to the FTX software to just rebutting certain DOJ witnesses. The judge basically said he agreed with the DOJ in rejecting all of these proposed witnesses. There were seven. He did allow the defense to call for four of them later on, but they have to meet certain requirements and fill out certain disclosure forms first. A big part of the judge's reasoning was the witnesses had just not adequately explained what they wanted to testify about or what they would say, and so they didn't have or he didn't have enough information to allow them to testify, which was functionally the DOJ's argument as well. That being said, some of these proposed witnesses are intended to act as rebuttal witnesses to DOJ's witnesses. I know we're saying the word witnesses a lot, but that's what it comes down to is four of these witnesses could come back and respond to, you know, either FTX intercircle members who are testifying on behalf of the DOJ. One of the potential witnesses that the defense can call forward is someone who can speak to the actual technical software underlying the, you know, FTX program, again, in response to DOJ witnesses. The judge did completely ban, for example, a British barrister who was supposed to explain the FTX terms of service as well as someone who was supposed to speak to kind of the crypto industry at large, saying that, you know, those witnesses and that proposed testimony seemed a bit too far afield from what the case would be about and could probably do more to confuse the jury than to clarify anything. And SPF's team also wanted to block a proposed government witness that was also denied. Who was that and why did the judge deny that motion? The DOJ proposed a University of Notre Dame professor to testify about some forensic analysis he did on FTX financials. The defense objected. They said that this witness would basically just reiterate the DOJ's claims, the allegations, but the DOJ argued that he was doing his own analysis of the data he had access to. And so it wouldn't just be stating the DOJ's claim. He would be providing his own expert insight based on his own work, you know, examining the databases that he had access to. And the judge agreed with that and said that based on what he'd saw and based on what the witness disclosure had provided, the witness was likely just speaking to his own expertise and looking at actual data as a third -party expert witness might do. And so those witnesses are allowed right now. We're still waiting on the full and final witness list, but we now know that there are probably at least a dozen witnesses that we're going to hear from over the next six weeks. And who are the ones that stick out to you on that list? I think the cooperating witnesses, so the FTX inner circle, that's former Alameda Research CEO Carolyn Ellison, former FTX director for engineering Nishat Singh and Gary Wang. I forget which one of them was the director of engineering. The other one was a fellow executive, but you know, these are the three individuals I think we're going to hear from probably first, maybe. Might hear from them as soon as next week, not certainly the week after. They're the ones who were in it, right? They were involved in this. They were part of FTX. They were part of the highs. I think we're going to probably hear from them, you know, how FTX might've fallen apart. I know from court filings, we know that DOJ wants to ask Carolyn Ellison about the FTT token and allegations that Sandbank and Freed was directly involved in trying to argue for Alameda to take a large sum of it and to potentially allegedly manipulate the price. So I think that testimony is going to be really interesting just because, again, it's the firsthand account of what happened. We're also probably going to see the defense try and discredit these witnesses to the extent possible, right? Straight out of the gate saying, well, you know, you weren't threatened with jail if you didn't testify in turn against your former boss. So I imagine we're just going to hear arguments like that from the defense during cross -examination, but either way, I think this is going to, you know, those are the three witnesses I think we're looking forward to most right now. And then once we're past that kind of initial surge of FTX insiders, that's when we'll get to kind of more, I don't because I don't think that is the right word for it, but, you know, people who are looking at it from kind of the, you know, again, forensic analysis perspective, people who are going to be able to kind of dig through and say, all right, well, you know, we've looked through the smoking remains and here's what we found. And I think that will also be interesting because it'll be really a third -party perspective on, you know, here's how this thing was set up and here's where things may have gone wrong or here's where things may have fallen apart. And getting a third -party perspective on that I think is going to be really fascinating because there'll be, I assume, a bit more objective about it than, you know, people who built it and worked on it maybe could be. One other kind of motion that happened this week that was pretty interesting or development, I should say, is that the judge did allow SPF's team to ask some of the witnesses about their drug use. What do you think will be the significance of that line of questioning? I think that goes back to, you know, a witness, cooperating FTX inner circle member saying, while we were at FTX, Sam directed us to manipulate FTT, whatever, you know, just speculating what someone could say. And the defense comes back and says, well, you know, are you sure that's what he said? Were you high at the time of these conversations or were you engaged in recreational drug use during the time you were running this company? You know, if I'm a member of the jury and I hear, okay, well, everyone was partying and on drugs and doing weird stuff or, you know, potentially, you know, in an altered state of mind, that might shape how I view the, you know, the defendant, the verdict, the whole case. So the judge did say that prior to making those, you know, kind of questions, the defense has to notify the prosecution and the judge about it. So it's not going to be a case of like they'll blindside the witnesses about this, but I imagine that's going to kind of go back to this effort to try and say like, okay, you know, Bankman Fried wasn't doing something wrong on his own or intentionally, it's just that things fell apart, but they were well -intentioned. The defense is going to attempt to, I think, pin some of the blame on legal advice that Bankman Fried received. How effective do you think that argument will be at trial? That's a really hard question to answer. I think the problem that the defense has is there's really no denying that FTX fell apart and it fell apart in like a very dramatic fashion, right? The day it filed for bankruptcy that evening, what, a couple hundred million dollars or tens of millions of dollars worth of crypto was stolen, I think. I forgot the exact amount, but you know, it was a pretty dramatic way to cap off what was already a chaotic week. So the problem the defense has is they can't say, well, FTX is fine. And so they're leaning on this advice of counsel defense. Their argument is going to be, you know, Bankman Fried was well -intentioned. He told his lawyers everything he wanted to do, and he did everything they told him to do. And so because it all fell apart, you can't really pin that on Bankman Fried. You have to look at the advice he was given and the information he was acting on. And so I guess part of the problem that the defense might have here is did they share or did Bankman Fried share everything he wanted to do with his attorneys? Did the attorneys have all the information and did he do exactly everything the way his attorneys told him to? And I don't know, you know, I'm sure we'll see answers to those questions over the next, you know, six weeks or so, but that seems to be kind of how that might play out. And it's going to be an interesting argument for sure. But again, I think it goes down to the central problem of FTX for sure collapsed and how you respond to that. One other issue is that the judge did rule that the prosecution could mention SPF's political donations. And there are charges specifically related to that that will be tried in a separate trial next year. So why were those allowed in this case? So this is where we get into what has become one of the new fun parts of being a court reporter in this case is Bahamas extradition treaties. So the original indictment that Bankman Fried was charged with back in December of 2022 did include campaign finance violations as one of the charges. But because it did not appear in the charging document that the Bahamas Police Department had, there's a Bahamas National Police, something like that, Bankman Fried's defense team successfully argued that they could not bring that charge right now because he had agreed to be extradited on the first seven charges, which were wire fraud and conspiracy to commit wire fraud and conspiracy to commit securities and bodies fraud, et cetera. So what it seems like is going to happen is the prosecution is going to try and fold all of that into all the political donation stuff into the other charges, into the wire fraud charges, and say, well, you know, we have the evidence, we have the allegations, and here's what you have to look at what that means for the next trial. And, you know, you're absolutely correct. There is another trial currently tentatively scheduled for either March or April 2024, next spring, either way, where we will be going through all of this again. But a lot of that is dependent on the Bahamas. And yeah, we could probably talk about that for another hour if you wanted to. All right. Well, we'll leave that for another episode. But one thing I did want to ask about is earlier in this interview, you said that his sentence was likely to be in the range of 10 to 20 years. And obviously, you know, there's many charges and we don't know which ones he'll be found guilty of and which ones he won't. But how are you coming up with that estimate? So yeah, I should definitely be more precise there. So I personally am not a lawyer or an expert in this. I have spoken to a number of lawyers about this. And what they said is, if you have a defendant who is found guilty, so these assumption here is that he is convicted on at least one of these charges. But if he's found guilty on even several of the charges, because all of the conduct is similar, because it's all kind of identical conduct at the core, a judge, when making a sentencing determination, will basically fold all the charges into each other, right? All the conduct. And so even though each of these charges, if you look at the DOJ, press release says, oh, it contains a maximum sentence of 20 years or five years, whatever. It's not going to be consecutive. It'll be concurrent. So the estimate I'm getting from various attorneys that I've spoken to over the past few weeks is probably be somewhere in the, you know, 10 to 20 year range. Some estimates came down as low as five years, some as many as 36 years. But they all seem to base that on just kind of the allegations, the charges themselves combined with the amount of money allegedly lost, which is more than 50 million, combined with the severity and all of that. Yeah. And so 50 million is sort of like some thresholds because I think it goes in levels of severity. Yeah. And the higher the number goes, the longer the sentence. However, that's the largest threshold, obviously. Yeah. I literally looked up the federal sentencing guidelines, which by the way, is a very confusing document. I did not understand it. So I asked someone else to explain it to me, but yeah, it's the different thresholds that you mentioned. And it starts with the, I think the thousands range and then just kind of escalates up and 50 million seems to have been the uppermost that they had. So it's 50 million plus. I think the allegation is something like 10 billion loss from FTX. So 10 billions, a hair more than 50 million. Just as many multiples. So that will probably be kind of the way they calculate it, probably. And again, this is dependent on if he's convicted on one or more charges and all sorts of stuff. Yeah. Okay. Well, we will have to see how all that plays out. Thank you so much for explaining all of this on Unchained. Thanks for having me again. Always great to talk to you. Yes. Same here. Don't forget next up is the weekly news recap today presented by veteran crypto reporter and Columbia University night budget fellow, Michael Del Castillo. Stick around for this week in crypto after this short break. Join over 80 million people using crypto .com. One of the easiest places to buy, trade and spend over 250 cryptocurrencies.
Fresh update on "nick" discussed on WTOP 24 Hour News
"By Thursday Friday and eventually shower chances Friday evening into Saturday lower temperatures highs back into the 60s for next Sunday and Monday even some morning glows potentially in the 40s. From the soggy bottom and 72 in silver spring brought to you by Mervis diamond importers Mervis best quality and value nobody beats Mervis diamonds visit Mervis diamond com coming up on WTOP late night TV viewers finally have new talk shows to watch this week I'm Sandy Kozel 1051 this is the lunch rush at at your your local deli orders are flying in online on the phone and in person. Order for Nick. So is it possible that fast internet can help your business outrun the rush? with It is Comcast Business. Upleveling your speed with GigSpeed Wi
A highlight from 683:Binance Exits Russia & SECs High-Stakes Terraform Probe
"Good evening, and welcome to The Crypto Overnight -er. I'm Nick Ademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Thursday, September 28th, 2023. Welcome back to The Crypto Overnight -er, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight, we're diving deep into the intersections of law and crypto. Whether it's Binance cutting ties with Russia, the SEC's ongoing tussle with Terraform Labs, or the courtroom drama unfolding around Sam Bankman -Fried, legal battles are shaping the landscape. But that's not all. Central banks are toying with DeFi, while PayPal is making strategic crypto alliances. It's a jam -packed night tonight, folks. Let's get started. Binance sold its entire Russian business to ComEx. This move comes as Binance faces mounting legal risks in Russia. ComEx is a newly -launched crypto exchange. It offers a wide range of products, including Spot, Futures, and P2P services. Binance's chief compliance officer, Noah Perlman, stated that operating in Russia is not compatible with Binance's compliance strategy. He said they're focusing their energy on the 100 -plus other countries where they operate. Binance assured that all assets of existing Russian users are safe. The offboarding process may take up to a year. Binance will work with ComEx to migrate its assets. Unlike other international deals in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business. Last month, Binance removed five sanctioned Russian lenders from its site. The Wall Street Journal reported that Binance was helping Russians move money abroad. This came after U .S. Justice Department investigations into whether Binance had been used by Russians to evade U .S. sanctions. Binance CEO, Chengpeng Zhao, took to Twitter to clarify some points. He said that ComEx does not service U .S. or EU users. They have IP address checks and KYC blocks in place, which was something that Binance asked for in the deal. CZ also clarified that he holds no shares in ComEx and didn't financially benefit from the deal. CZ also mentioned that some former Binance team members from the Commonwealth of the Independent States may transition to ComEx. He thinks that's a good thing. The sale of Binance's Russian unit to ComEx is a significant move. It speaks volumes about the regulatory landscape crypto businesses are navigating in. Binance's decision to exit Russia is a clear sign that the exchange is taking compliance seriously, especially in the face of U .S. sanctions and ongoing investigations. This could be seen as a strategic retreat to focus on markets where the regulatory environment is more favorable. CZ's denial of ownership in ComEx is noteworthy. It dispels rumors and adds a layer of transparency to the deal. The fact that ComEx will not service EU or U .S. users is also significant. It shows that the new exchange is taking a cautious approach to compliance, likely to avoid the pitfalls that Binance itself encountered. The offboarding process for existing Russian users will take up to a year, which raises questions about the logistics and security of such a transition. That's a long window that could be exploited if not managed carefully. The absence of an ongoing revenue split or a buyback option in the deal indicates that Binance is cutting ties with Russia in a very final manner. This isn't a temporary measure, but a calculated exit. It's clear that Binance is tightening its compliance strategy. They're exiting a market fraught with legal risks to focus on more compliant operations. Even giants like Binance have to play by some rules or at least know when to exit the game. All right, you've just heard about Binance's tactical exit from Russia, a development that cannot be ignored. Compliance is the new battlefield and it's reshaping the crypto world. But while Binance is navigating Russian law, let's pivot to U .S. shores where another legal battle is simmering. Make sure to hit that like button and subscribe to stay updated.
Fresh update on "nick" discussed on Bloomberg Opinion
"I'm for Hannah Bloomberg. Broadcasting The Executive Bloomberg 24 producers Business Act. hours are a George day Lavender, at This is bloomberg Bloomberg Marshall .com Radio. and the Just in the For the sake nick of of time Congress has prevented a government shutdown. President Biden has signed a stopgap bill to prevent that shutdown earlier tonight. Biden signed the bill shortly after it was passed by the US Senate on Saturday ahead of the midnight deadline. The bill includes natural disaster aid and a measure to keep the FAA operational. But does not provide additional funds for Ukraine or border security. The government will stay funded at existing levels through November 17th. New York Democratic Congressman Jamaal Bowman is facing punishment after he pulled a fire alarm at a house office building this weekend on Capitol Hill. The 47 -year -old Manhattan native was caught on surveillance video setting off the alarm at the Cannon Building Saturday morning. Some Republicans claim Bowman did it on purpose to prevent efforts by the House to vote on a bill to avoid a government shutdown. House Speaker Kevin McCarthy says Bowman should be punished and Georgia Republican Congresswoman Marjorie Taylor Green says Bowman should face charges similar to many January 6th prosecutions. Bowman claims it was an accident Former President Trump could be in New York City on Monday for his civil fraud trial. Trump's attorneys revealed his plans on Friday while discussing another case a lawsuit against his former lawyer Michael Cohen. Trump was set to undergo a deposition in that case in Florida on Tuesday but his lawyers asked the court to postpone it so he could attend the New York trial which opens on Monday. Earlier this week the judge overseeing the New York case ruled that Trump had been overvaluing his properties and was liable for fraud and the death toll from the Maui wildfires has increased by one. On Friday Lori Allen succumbed to her injuries after nearly seven weeks in a burn center the official death toll from the wildfire now sits at 98. Forbes. New York Governor Kathy Hochul has praise New for
A highlight from Andrew Marchand on MNF, McAfee, Swift/Kelce Coverage & More
"Sick of paying $100 for groceries and getting nothing but eggs, orange juice, and a paper bag? Then download the Drop app. Drop lets you earn points with your everyday shopping and redeem them for gift cards. Want a free dinner with those groceries? Drop it. How about daily lattes? Drop it. So download Drop today and get $5 just for signing up. Use invite code getdrop777. How rude, Tanneritos. A Full House rewatch podcast is here. Join us as hosts Jodie Sweetin and Andrea Barber look back on their journey together as the iconic characters we all love, Stephanie Tanner and Kimmy Gibbler. Here's a quick preview brought to you by the Hyundai Tucson. We spent our entire childhoods on a little show called Full House, playing frenemies, but becoming besties whenever the cameras weren't rolling. And now 35 years later, it's our biggest adventure yet. You can listen to How Rude Tanneritos on the iHeartRadio app or wherever you get your podcasts. Brought to you by the Hyundai Tucson. It's your journey. Welcome, everyone, to SI Media with Jimmy Traina. Thank you so much for listening. The usual periodic check in with Andrew Marchand from the New York Post this week. He joined the pod to talk about a variety of topics in sports media. We get into the ABC ESPN Monday Night Football staggered star double headers. We get into how ESPN and the ESPN and Pat McAfee marriage is going. Deion Sanders stuff. How the media has handled Taylor Swift and Travis Kelsey. What's going on with WWE and Monday Night Raw most likely looks like it's going to be on the move. Andrew had some stuff on that. A couple of things about local New York radio. So a bunch of sports media topics with Andrew Marchand on this episode. And then Salicata joins me as he does every week for our train of thought segment. Where we get into some NFL things about the Eagles. Should the NFL ban the Eagles one yard play. Joe Namath and Lou Holtz making headlines. Get into these ridiculous prop bets on Taylor Swift and Travis Kelsey. And Sal has a rough Sunday coming up. So if you're a fan of the train of thought segment, you'll want to hear that. Before we get to the full episode. I want you to make sure you listen to past episodes. If you've missed any and make sure you subscribe to us. I media Jimmy trainer. We've had a great run of guests. Kevin Clark from ESPN was on the show last week. Scott Hansen hosted the NFL Red Zone channel two weeks ago. Julian Edelman three weeks ago. Charles Barkley, Peter Schrager, Chris Russo, all recent guests. So if you missed any of those, give them a listen, download, subscribe to the pod and leave a review on Apple. We'll read it on an upcoming episode. All right. Andrew Marchand from the New York Post, followed by Salicata and train of thought. It's all coming up right now, right here. On S .I. media with Jimmy trainer. All right, training me now. S .I. media podcast regular. This periodic visit from the New York Post. And the March and Iran podcast is Andrew Marchand. Andrew, how are you? I'm good. How you doing, Jimmy? I'm good. I just realized I didn't put my phone on do not disturb. So I'm going to do that as we speak. And I'm going to let you know that I had a reader last week for my mailbag column on S .I. com, send it an email and said, when is Marchand's next appearance? So here we go. You made someone happy. Thank you that person. You made someone happy by coming on today. Let's start with this. A lot of media news to get to. Have you heard anything from ESPN or do you have any intel about how they feel about the last two weeks? How the staggered Monday Night Football doubleheader has gone? Because I've gotten a lot of emails and tweets about it. I'm sure you have as well. Yeah, I haven't talked to anybody specifically about how they feel about it. I mean, it is an NFL decision. ESPN is not in control of how those games are scheduled. Maybe they have some say, but it's the NFL decision. Yeah, I don't like it. Actually, in our podcast with John, it was my who's down this week. And the reason I just feel like I kind of said this on our part, it's too it's like having two quarterbacks and you have none. Right. And now if you have Joe Montana and Steve Young, there are two awesome games. Maybe that'd be better. But I just find my attention split and I don't know. And even at like halftime, I wouldn't recommend you go to the other game. Like I get what they're trying to do there, but it's not the NCAA tournament. And usually it's in like the second quarter, third quarter. So I personally don't think it really works that well. Now, I think they want to avoid I'm not positive, but I think they want to avoid that 10 30 late window. We used to get the Monday night and you get the, you know, crazy crew, either Chris Berman or Golick and Greenberg, you know, some of those crews back in the day. They probably don't want that late night game where, you know, you're losing that East Coast audience if it gets too late. But I don't know. I don't think this necessarily works. See, I like it. And what are the tweet? What are the tweeters say? Most people seem to not like it. Yeah. And why do you like it? The more the merrier. Give me as much football as possible. If I can watch eight games at one o 'clock on Sunday and four or five games at four o 'clock on Sunday, I can handle two games on Monday night. So, you know, I have two TVs. I put one game on each TV and two is better than one for me. That's just how I feel. Yeah, I've been a little running around these last couple of Mondays when this happened. So I may be a little bit, you know, my opinion skewed a little bit by that. It hasn't just been like I'm just chilling and watching, been running around a little bit. So perhaps that's, you know, maybe I could be swayed. I will say, you know, I don't know. This is a whole separate discussion. I would love to know your take on this, but I always feel like it's a little tough sometimes to criticize people in this podcast when I also have to book this podcast. So I try to be careful. Yeah, I notice you're very soft. That's what you're trying to say. Sometimes. So I'm sure this guy will never come on again, but they gotta do better than Chris Fowler on the secondary game. Just not, it's just not working. Chris is not a great play -by -player. Right. He was a great host, studio host. Can I say one thing? Yeah. He's on tremendous tennis. Like I watch the U .S. Open every single day. I think he's great on tennis. It's football where it's just something feels off. Well, tennis is also slower. And like you look at people who do really well at the slower sports. Like, you know, Jim Nantz is better than Chris Fowler, but Nantz is really his best thing is golf. And I think he's an OK NFL play -by -player. And at the end of his college basketball run, he was definitely, I don't know, OK is probably, you know, he was OK there as well. And I think if you look at Fowler and his history, now he's been doing play -by -play for a while now. And he has gotten better. Like when he first started on the number one crew, I mean, if I were covering it then, that would not, I probably would not have been that kind. Because he has gotten better, but it's not really good enough. And he's the rare case, I think with Herb Street, that Herb Street makes him better. Usually it's the play -by -player who makes the analyst better. And yeah, I think you're right. And I also think, you know, in fairness to Fowler, you know, ESPN put that crew together. They replaced Levy there and they had a year or two under their belt together as a team. And, you know, not the full team, but him and Riddick, Levy and Riddick, and then Jadolowski. And I think they kind of don't, they underestimate chemistry. It takes time to build it up. And so I think that hurts. And he just, he's a college guy too. It's hard just to come into the NFL. I know he, you know, he's talked how hard his schedule is with the U .S. Open. And then, you know, doing a game a couple days later. And then doing a college. And so, you know, that's hard. And so, yeah, he's not a tremendous play -by -player. To me, this is just me, it felt like when ESPN gave him that gig, it was more about ESPN trying to impress the NFL. Like, look, we have our number one college game. Like you had said earlier, the secondary Monday night game for years was, you know, Golic and Greenberg and Chris Berman with a cast of character. Rich Ryan did it one year. I think this is ESPN trying to say to the NFL, because now they have a Super Bowl and they have this big contract. And, you know, they brought in Buck and Aikman. Like, we're serious, we're going to take our, regardless of what you think about Fowler, he's their lead college guy. So, I feel like they're like, oh, look at us, we're putting the lead when, you know, that. Yeah, I think they screwed up and I think they know they screwed up. I think that they ended up shifting who was in charge of the NFL. It was Stephanie Drewley. And they moved her off the NFL after, you know, I think that didn't help her cause in terms of staying on the NFL. I think they were satisfied with Levy. He was a good guy, which they value. After they brought in Joe Buck, he was very gracious. You know, Levy's a very good hockey guy, especially studio host. I thought he could have, you know, could have been the pregame show on Monday Night Football. He's in, again, not their, in my opinion, they had other people who are better play -by -players for football, but it was good. Like, so, yeah, I don't think it was to impress the NFL. They got Joe Buck and Troy Aikman. They got the Mannings. I mean, they spend, they're spending 50, 60 million dollars a year on their booths. Like, I don't think the second team booth is gonna, you know. If anything, I think it was, there was a thought before Buck and Aikman that Fallon and Herb Street might get the NFL. Might get Monday Night Football. Might get the potential Super Bowl. And then this is kind of a carrot since they didn't get it. But I'd argue, and I even talked to Chris Fowler about this. So, I don't know if this is the case. I just don't know if, I mean, Chris Fowler does the national championship. He does the biggest college game every week for Disney. I can't, like, I get it. Maybe he wanted to do NFL. But is this really gonna satisfy him because you're doing a second game, which generally aren't that great? I don't, I don't see that long -term, personally. And I think also, strategically, if I'm ESPN, I'm putting a young play -by -player. Now, Joe Buck, we both think it's great. Like, he and Ian Eagle are the best two play -by -players going right now. And, um, but, Joe Buck's contract's up in a couple of years. If I'm ESPN, and I, you know, I think they'll probably re -sign Joe Buck, and they should. That said, he makes a lot of money. And, you know, I would be saying, who can I develop? What young guy can I develop? So when I go into that negotiation, I really have somebody who's on the rise. And I can say, hey, look, you don't want this, you know, the 15 million a year? Then we'll go here, you know? But if you start demanding, I'm not saying this is going to happen, but, demanding even more and more money, I'd want an option. I don't think they've created an option. They've actually put somebody in that spot who they've already said they'd rather spend 15 million dollars on Joe Buck than have Chris Fowler as the lead play -by -player. So, I just think negotiation -wise, and strategically, in terms of saving money, it wasn't a great decision. Yeah. I don't understand the insistence on the three -person booth, either. They had Fowler, Greasy, and Riddick. Excuse me, excuse me. Levy, Riddick, Greasy. Now it's Fowler or Lofsky, Riddick. To me, that, and, Fowler's used to a two -person booth with Herb Street. They have Buck and Aikman, which is a two -person booth. I don't understand the insistence on the three -person booth. It's just, for football, it just, I don't get it, but, that's just my - It complicates, it over -complicates it. Yeah. And like you said, chemistry. I think it's much harder to develop a chemistry with three. I mean, you know, the local Mets situation is different with Gary Cohn, Ron Darl - Is it in baseball, is it football? What three men, can you name - I mean, I guess back in the old Monday Night Football days, there were three men booths that had - Yeah, Collinsworth and Aikman with Buck that one year. Yeah, one year it lasted, you know. So, I don't know. But, there's no more staggered double -headers. The next one is week 14, and both games will start at 8 -15. I think that's the one that's going to piss a lot of people off. But, that's a long way down the road. You got the two TVs. Yeah. I asked you if ESPN, how they feel about Monday Night Football. Anything you've heard about how they feel about their new partnership with Pat McAfee. I mean, it's early, but they're bullish on it. I mean, they've kind of handed the keys to the network to McAfee. I mean, you can't - it's kind of like Stephen A. now. You can't really turn on ESPN almost every day except basically Sunday without seeing Pat. And so, you know, I think initially the ratings weren't that good. I think they got a little better in terms of the TV ratings. I think that kind of makes some sense because if you think about it, he was a YouTube show. Yeah, he's got to play for TV. Yeah, and he's still a YouTube show. Well, it is a play for TV because they think that they had Max in there before. They think that the ratings will be high enough that they'll be able to charge more for the ad rates. I guarantee you the money they'll make off of McAfee on social media and YouTube will be 8 billion times more than the money they made off Max Kellerman on social media. Oh, 100%. No, you're right. No, you're right. There's no doubt about that. And look, they want to get, I will say this, like, does it work? I think a lot of times when companies make big moves, you know, big time moves, a lot of times they make those moves when the person's kind of towards the end, you know, they got McAfee on the rise. Like, you know, we, you know, you and I have been aware of McAfee for years now, but he's really like, you know, here, I don't think he's at the plateau, you know, where most people go up and then they plateau and then they go down. He's at, he's still, I think, going up and then maybe the plateau is on the horizon and you can plateau for 20, 25 years if you have the right attitude and personality and just have the right act. So that's where I think that makes a lot of sense as a bet because it's not, I'll hit one close to home, Rick Riley leaving ESPN. I mean, leaving SI for ESPN where, you know, Rick Riley is one of the great columnist ever, but at that point, you know, whatever, maybe it was the internet, I don't know exactly. It just didn't really work as well at ESPN as it did at SI. And so I just think they've done that and that's kind of, you know, teams do that in sports and I think sometimes networks do that. And so I feel like signing McAfee in his mid -30s is kind of like signing a baseball free agent who's in his mid -20s and I think that's what you want to do as opposed to getting a, signing a 35 -year -old and, you know, thinking they can still play, you know, like, I don't know, like a Josh Donaldson, maybe trading for someone like that, Jimmy. You see what I did there? I don't need reminders of the horrific Yankee season. I just did that on purpose. I don't need that. My head was going, who am I going to say? All right, yeah, Josh Donaldson, but it was a treat. Just a, yeah, you want me to say Brian Cashman should be fired. It's amazing too, they replay that. I didn't know this was going to be the situation going into it, but they replay the show as soon as it's over, I think, on ESPN 2 and then they replay it at night on maybe ESPN News or one of their, what you said about if you're going to put on one of the ESPNs at any point in the day, you're going to see Pat McAfee. Yeah. So that's good for him. Like I, you know, people feel like - But I also think, ESPN has to be, they have Aaron Rodgers on their air every week. It's a news making thing that's on their air every week. They've got Nick, he's got Nick Saban on his show every week. Yeah. That's a news making thing every week. I would think ESPN has to be, forget the numbers because the numbers, I think, will be there. It's still a new thing. You have, the ESPN audience is older, the McAfee audience is younger, it might take some, but I would think ESPN just on the brand and the cachet of that show has to be thrilled. I think so. I mean, but if you talk, like I have, again, I'll probably make some calls here in the near future, but so I haven't talked specifically with anybody about that. But generally speaking, when these things first start, everyone loves it. So then we'll see. Again, I'm not saying, I could see it either way. Like, you know, McAfee has not really stayed at any of these, throughout any of these contracts he's had. So that's something to watch. Maybe this one he does, but that hasn't been the case previously. So that is something. I think the fact that he's on game day has to help the relationship there a little bit with ESPN. Here's the thing about McAfee. If you're managing him, in my opinion, and it's like Casey Jones, the former coach of the Celtics, was known for just throwing out the ball and telling McHale, Parrish, and Bird to go play, Dennis Johnson. At least that's how I remember as a kid. That was his reputation. And I think McAfee is sort of like that. Just give him the ball, let him do his thing. He's not looking to, you know, for some strategy. Let's, you know, triangle offense. He's not looking for that. He's looking for, let me do my thing. I know what I'm doing. And the thing about McAfee is he's very smart. Like, I know he plays this, like, he's not smart thing. It works very hard. He works hard and he's very smart. He's very savvy. He acts as if, like, you know, maybe he's, you know, just a dumb jock. But he understands the media business very well. We need, we need to discuss the Kelsey Taylor Swift thing because I actually think it's a legitimate media story. If Fox is going to get these increase in their demographics of the female audience, the young people, the NFL has gone all in on this thing. I mean, they changed their Twitter header to, like, a Taylor Swift thing. They're putting out Travis Kelsey Swiftiest plays on their social media. He's gained, I guess, a ton of followers, the jersey sale. Let me start with this. How did you think Fox handled it on Sunday when she was in the stadium? Do you think they overdid it? Do you think the fact that they had an unwatchable game takes them off the hook? What was your take on the Chiefs -Bears on Sunday when she was there? I think the second part, and I wouldn't take them off the hook, but I think the second part, you have an unwatchable game that you had to switch most of the country out of because it was so non -competitive, that you have Taylor Swift there, it's a big deal. And, you know, there's a lot of Taylor Swift fans who are football fans, a lot of non -Taylor Swift fans who weren't watching that game, but it was a talking point, right? Like, I saw Taylor Swift in the concert this summer, but that was kind of - Look at you! Yeah, how do you like that? Look at you! You couldn't even get tickets. Big shot. Where'd you get tickets? My daughter's friend just won the lottery. No shenanigans. Oh, really? Tickets were $235 each, which is still a lot of money, but not, like, $1 ,000. And it was just kind of happenstance, how I ended up going. I was going to say, if your daughter's friend got tickets, how did you end up at the era's tour? I mean - Were you, like - It's just a long drive to get to the metal lands, didn't want them driving back. They're older, they can drive, but at, you know, one o 'clock in the morning from Taylor Swift, so - But you were in MetLife and watched the show. Yes. Friendship bracelets? Well, you want to know something funny? This is a good one. So, my daughter's friend said to me, do you want a - do you want a jewel? And I'm like, no, no, no, I'm okay. Thinking she's saying a jewel, like a jewel, smoke. But she was saying, like, to, like, get bedazzled, a little jewel, which I would have taken. So later, I was like, I told my daughter, I said, but your friend, she said she asked me if I wanted a jewel. She's like, no, no, she didn't say you wanted a jewel. She said, do you want a - a jewel to put some ju - you know. Right. I didn't have any bracelets, but I was into - I liked Taylor Swift. I wouldn't go again. I kind of felt bad being there, because there's people who give their left arm to be there. But it was - look, she is an unbelievable performer. I mean, it was - you could - first of all, I liked some of her songs. Secondly, the level of performance. It was just, you know, it was an A+. I mean, that - that - and that is something, even if you didn't like her music, you can appreciate it. And also, I appreciate it if I had to go to the bathroom. Easy pass right in there. No one. Right. No one's leaving their seat except for people like you who aren't in it. Yeah, and especially, yeah, and more skewed women.
Fresh update on "nick" discussed on WTOP 24 Hour News
"Of responsibility for leading the men and women of our great police department I am confident that we will be able to work together to support public safety in the District of Columbia this is something a of job interview for her at some point in the coming weeks the DC Council will take up the matter of Smith's nomination which successful if would make her the first black woman to lead DC's police department in a permanent capacity that is WTOP's Nick Anelli reporting down to top the stories we're working on tonight at WTOP shut down averted at least for now the Senate overwhelmingly passes the top of the stopgap spending bill passed earlier today by the house part a of Maryland gun safety law goes into effect at midnight
A highlight from 682:SECs Power Struggle: Congress, ETF Delays, and a Pivotal Hearing
"Good evening, and welcome to The Crypto Overnight -er. I'm Nick Ademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Wednesday, September 27th, 2023. Welcome back to The Crypto Overnight -er, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight, we're diving into the SEC's ongoing tango with the crypto industry. From Gary Gensler's controversial stance ahead of a congressional hearing to the SEC's foot dragging on Bitcoin ETF approvals, the regulatory landscape is becoming a battleground. And don't think Congress is sitting idle. They're stepping into the ring, demanding answers and action from the SEC. Buckle up, it's going to be a rollercoaster of a night. US Securities Exchange Commission Chair Gary Gensler has been vocal, and his recent statements ahead of a congressional hearing are stirring the pot. Gensler testified in front of the House Financial Services Committee, and we're going to get to his testimony in a bit. He's holding fast to his stance that most cryptocurrencies and crypto firms fall under federal securities laws, laws that, mind you, have been on the books for decades, according to his testimony. Gensler's view is a direct challenge to the crypto industry's ethos of decentralization and financial freedom. He likens the current state of the crypto market to the 1920s, before federal securities laws were in place. A comparison that's not just a stretch, but a leap back in time, ignoring the innovative nature of blockchain technology. Again, during his testimony today, he reiterated his belief that Bitcoin is not a security. He stopped short of saying that Bitcoin is a commodity. When he was asked if he believes that Bitcoin is a security, Gensler responded that he, the SEC staff, and prior chairs have said that it does not meet the Howey Test. However, he was reluctant to say that Bitcoin was a commodity during a follow -up question. When talking about Bitcoin's categorization, he said, quote, the test is otherwise for other laws. Again, refusing to answer the question. Gensler is not without his critics. Patrick McHenry is the chair of the House Financial Services Committee. He was the one asking questions about Bitcoin and receiving non -answers in return. McHenry accused Gensler of lacking clarity, and McHenry's point is valid. How can you punish digital asset firms for not adhering to laws when it's unclear if those laws even apply? It's like being ticketed for speeding when there are no speed limit signs. On the other side of the aisle, some Democrats like Maxine Waters are siding with Gensler. They believe that existing securities laws can work for crypto firms, but let's be real. This isn't just about regulation. It's about control. The government wants a piece of the crypto pie and they're using outdated laws to stake their claim. The House Financial Services Committee has advanced two bills. One aims to transition a digital asset from being a security to a commodity. The other looks to regulate stable coins. Both are clear indicators that lawmakers are scrambling to catch up with an industry that's already miles ahead. While Gensler was testifying, crypto entrepreneurs were in Washington for Coinbase's Stand With Crypto Day. They met with lawmakers and discussed how crypto is creating jobs. It's a counter narrative that needs to be heard, especially when the SEC is painting the industry as the Wild West. The SEC, under Gensler's leadership, is pushing for crypto compliance based on antiquated laws. That not only stifles innovation, but also contradicts the very principles that make crypto a beacon of financial freedom. And as the government tries to rein in the crypto world, the industry is fighting back, making it clear that they will not be easily tamed. Gensler's testimony is a pivotal moment for the crypto industry. His unwavering stance that most cryptocurrencies should be regulated as securities is a red flag. It's a philosophical clash with the ethos of decentralization that many in the crypto community hold dear. Gensler's comparison of today's crypto landscape to the 1920s is a thinly veiled warning. He's essentially saying that the crypto industry is a Wild West that needs taming. Now let's not forget, the crypto industry isn't Wall Street. It's a new frontier with its own set of rules and innovations. But Henry's criticism of Gensler is noteworthy. It reflects the frustration that many feel about the SEC's unclear guidelines. How can crypto firms comply with laws that aren't explicitly defined for them? It's like being asked to read a book, but the pages are blank. The advanced bills are a mixed bag. While they offer some regulatory clarity, they also paved the way for more governmental oversight, which could stifle innovation. As we unpack the SEC's heavy handed approach, it's clear that the regulatory web around cryptocurrencies is tightening. Gensler's testimony is sure to fan the flames of the ongoing debate on governmental control versus financial freedom. But folks, this isn't the only arena where the SEC is flexing its muscles. The SEC's recent move to extend deadlines for Bitcoin ETF applications from ARK21 shares and GlobalX is emblematic of the same regulatory hesitance. It's a systemic issue. The SEC's rationale, market manipulation and weak investor protections. But as many of you know, the real crux of the matter is control. The same control that the government is keen on exerting over the broader crypto space. And let's not overlook the timing here. While Gensler prepares to defend his stance in Congress, the SEC is simultaneously delaying decisions on Bitcoin ETFs. And why? All under the shadow of a looming government shutdown, adding another layer of complexity to this regulatory maze. And it's not just individual critics or lawmakers putting the SEC under the microscope, it's the entire crypto industry who is watching and waiting. Which brings us to the SEC's recent move to extend deadlines for Bitcoin ETF applications from ARK21 shares and GlobalX. Another chapter in the ongoing saga of regulatory hesitance and it's happening as the US government teeters on the brink of a shutdown. ARK21 shares and GlobalX had their hopes dashed when the SEC pushed back its decision deadlines. ARK's new deadline is January 10th, while GlobalX has until November 21st. This isn't the SEC's first radio. They've got 240 days to make a call after starting a review. But this time they've acted well before their interim deadlines. Why the rush? That looming government shutdown might be the culprit. ARK Investment Management and 21 shares have been in the game since 2021. They faced SEC rejections before. GlobalX is a newer player. They aim to offer investors a safer way to get Bitcoin exposure, but the SEC isn't biting. True to form, they cite market manipulation and weak investor protections as the reasons for their reluctance. Now, a federal court recently called the SEC arbitrary and capricious in its ETF decisions. Despite this, the SEC is continuing to drag its feet. ARK's CEO, Cathie Wood, expected this delay. She believes the SEC will approve multiple Bitcoin ETFs at once, if at all. Meanwhile, the SEC is also reviewing applications from big names like BlackRock, Fidelity, VanEck, and Invesco. ARK21 shares was leading the pack, but now it's anyone's game. The SEC's hesitance is a sign of the regulatory uncertainty that's stifling innovation in the crypto space. And as the government faces a potential shutdown, this regulatory limbo could extend even further. So really, this shutdown could not have come at a worse time. But shutdown or no shutdown, the SEC has been dragging its feet on crypto for years. So let's be real. This is less about protecting the investor and more about maintaining control over a financial system that's rapidly evolving without them. The recent court ruling that called the SEC's past decisions arbitrary and capricious is a signal that their time of unchallenged authority is coming to an end. Cathie Wood expects more than one Bitcoin ETF to get approved eventually, and she's probably right. The SEC can't hold back this tide forever. And they need to be careful because first mover status brings a huge advantage in this kind of market. The delay might be frustrating, but it's also a sign that the SEC is feeling the heat. They're running out of excuses and with each delay, they're losing more credibility. So while we wait for the SEC to make up its mind, the crypto community gets stronger and the traditional financial system gets a little more nervous. The clock is ticking and it's not in the SEC's favor. While the SEC continues to drag its feet on Bitcoin ETF approvals, citing concerns that many in the industry see as smokescreens for control, it's not just the investors and financial firms that are losing patience. The political arena is starting to bubble with dissatisfaction and it's coming from both sides of the aisle. In fact, recent court rulings and bipartisan demands indicate that the SEC's longstanding resistance to crypto innovation is reaching a tipping point. Lawmakers have decided they've had enough of the SEC's hesitation and are now stepping into the ring guns blazing. And trust me, they're not missing words. A bipartisan group of lawmakers urged Gensler to approve the listing of spot Bitcoin ETFs immediately. This comes after that court ruling we were talking about involving Grayscale Investments. Grayscale secured a win when three judges in the US Court of Appeal ruled that the SEC had to re -review its bid for a spot Bitcoin ETF. This was after Grayscale sued the SEC for rejecting its proposal. This exposed the SEC's double standard. The court specifically addressed the SEC's differential treatment of spot Bitcoin ETFs in similar funds based on futures contracts. The lawmakers argued that a spot Bitcoin ETF is indistinguishable from a futures Bitcoin ETF. The lawmakers in question are representatives Mike Flood, Tom Emmer, Richie Torres, and Wiley Nickel. They argued that a regulated spot Bitcoin ETF would increase investor protection by making access to Bitcoin more transparent and safer. They sent a letter to Gensler, stating that Congress has a duty to ensure that the SEC approves investment products that meet requirements set out by Congress. During Gensler's testimony today, McHenry did not mince words. He called out Gensler's lack of responsiveness as unacceptable, which is funny because the SEC, the very agency tasked with enforcing transparency, is itself under fire for being opaque. The irony is palpable. McHenry's frustration isn't isolated. It's part of a broader sentiment that's been building up for months. The SEC has been aggressive in its enforcement actions against various crypto entities. Yet it's the same agency that oversaw one of the largest financial crimes in U .S. history, and within the crypto industry, no less. Congress wants answers, and they want them now. They specifically targeted Gensler's communications with FTX. McHenry said, quote, "'You refuse to be transparent with Congress regarding your interaction with FTX and San Bankman Free.'" Now, this is crucial. FTX was a major player in the crypto space, and any interactions between it and the SEC could have far -reaching implications. I remember back then that people were accusing SBF of setting things up with the SEC to be more favorable to FTX than the competition. McHenry revealed that the committee made multiple requests for documents from the SEC. Seven months pass, they've received zilch. Not one single non -public document. McHenry's patience is wearing thin, and he's made it clear that the SEC is not above the law. McHenry is calling for a path forward, one where the SEC is responsive to congressional requests. If not, they're looking at the first congressional subpoena issued to the SEC. This showdown is a reflection of the growing distrust between regulatory bodies and those who hold them accountable. And let's not forget, this is happening in the backdrop of a crypto industry that's already skeptical of centralized authority. McHenry's ultimatum to Gensler is a significant moment. It's a challenge to the SEC's authority and a call for greater transparency in an industry that values it above all else. The ball is in Gensler's court. Will he play or will he forfeit? Either way, the crypto community will be watching closely. The SEC has been all too eager to slap lawsuits on crypto companies. Yet when it comes to their own dealings with FTX, one of the industry's major players, they're as tight -lipped as a sealed vault. What are they hiding and why is it taking a congressional threat of a subpoena to get some answers? McHenry's frustration is palpable and frankly justified. The SEC is supposed to be accountable to Congress and by extension, the American people. Their lack of responsiveness is not just unacceptable, as McHenry puts it, it's a breach of public trust. And let's not forget the irony here. The SEC, which has been so keen on enforcing transparency in the crypto world, is itself becoming opaque. This isn't just hypocrisy, it's a red flag. If the SEC can't be transparent about its interactions with FTX, how can we trust them to regulate an industry that's all about decentralization and transparency? The bipartisan push for immediate approval of Spot Bitcoin ETFs is a significant development. It's not just a win for the crypto community, but it's also a slap in the face for the SEC. The agency's inconsistent stance on Bitcoin ETFs has long been a point of contention. The court ruling in favor of Grayscale adds legal weight to the argument that the SEC's current position is, in fact, untenable. What's even more intriguing is the bipartisan nature of this push. In an era where political divisions run deep, the united front from both sides of the aisle speaks volumes. It suggests that the benefits of a regulated Bitcoin ETF, increased transparency and investor protection, are universally acknowledged. As I have long said, if crypto becomes a left versus right issue, both sides will lose. So it's good to see the left and the right working together on something for once. The SEC's reluctance to greenlight Spot Bitcoin ETFs is a blockade on financial innovation. This is especially glaring when you consider that futures -based Bitcoin ETFs have already received a nod. This differential treatment is not only consistent, but also discriminatory. Gensler's oversight hearing was a pivotal moment. The lawmakers are not just asking for explanations, they're demanding action. And given the court's ruling and the mounting pressure from Congress, the SEC might finally have to yield. This is not just about one type of financial product. It's about the broader acceptance of cryptocurrency in the financial ecosystem. A Spot Bitcoin ETF could serve as a gateway for mainstream investors, making it easier for them to enter the crypto market. And let's not forget, easier access means more capital inflow, which could significantly impact Bitcoin's value, and by extension, the entire crypto market. So what happened? In the showdown between Gary Gensler and Patrick McHenry at the House Financial Services Committee, the SEC's stand on regulating most cryptocurrencies as securities collided head on with the crypto industry's ethos of decentralization. Gensler likened the crypto landscape to the 1920s, a comparison met with skepticism and criticism. The SEC extended deadlines for Bitcoin ETF applications from ARK21 shares and GlobalEx, citing market manipulation and investor protection. But let's call it what it is, another play for control. And this comes amid a looming government shutdown, adding another layer to an already complex regulatory landscape. A bipartisan group of lawmakers is pushing back against the SEC's hesitance on approving Spot Bitcoin ETFs. This comes hot on the heels of a court ruling in favor of grayscale investments, adding legal weight to the frustrations with the SEC's inconsistent policies. Lastly, McHenry's calls for transparency in the SEC's dealings with FTX and other crypto entities culminate in a broader sentiment of distrust. He made it clear that the SEC's lack of responsiveness is unacceptable and even threatened the congressional subpoena. The overarching theme tonight is the intensing struggle for control and clarity between the SEC and the crypto world. On the one hand, the SEC is holding fast to ancient regulations that don't align with the ethos of the crypto industry. On the other, Congress and the courts are increasingly pushing back, demanding answers and more rational policies. This power struggle is affecting everything from how digital assets are classified to the approval of new financial products like Bitcoin ETFs. This regulatory tussle dictates the rules of the game, affecting your investments, your financial freedom and the future of the crypto industry itself. The struggle is far from over and each move has consequences that resonate throughout the crypto community. As we wrap tonight, it's clear that we're at a crossroads. The decisions being made by these institutions will either open new doors for the crypto industry or erect walls that stifle innovation and financial freedom. What's certain is that Congress is paying close attention to Gensler and exerting pressure on him to act soon, for better or worse. And that's going to do it for us tonight. I want to thank you, my listeners, because when you stop listening, I will stop talking. If you enjoyed tonight's show, then please like, follow, subscribe, leave a rating or maybe a review. And in the meantime, we'll see you tomorrow night. See you next time.
Fresh update on "nick" discussed on WTOP 24 Hour News
"Testimony from the city's acting police chief pamela smith w t o p's nick aye and belly followed the meeting and shared some key points with sean and and last time d c reached two hundred homicides before october was back in nineteen ninety seven council member brooke pinto chairs the public safety committee behind everyone of those homicides is a real person that as a city we the family that will have to live with the trauma and lost for the rest of their lives and this loss impacts our communities more broadly in so many immeasurable ways it's hard to overstate how devastating these statistics are especially because there have been more young people tied up in gun violence this year in the nation's capital we hear about this so often young high schoolers even hunger being shots by stray gunfire or being somehow involved in an arguments being shot during an arguments a sixteen -year -old was just killed near his school Dunbar High Councilmember Kenyon McDuffie talked about that we have to acknowledge that we are failing to keep our kids safe and we have to do everything humanly possible to to change that so that was the mood during this meeting lawmakers seeming to indicate that DC crime is just out of control right now Nick the acting police chief has been there what is she saying she was nominated by the mayor in July for that role she's talking to the Public Safety Committee answering questions and giving her thoughts about it I approached this with commitment and a strong sense of responsibility for leading the men and women of our great police department I am confident that we will be able to work together to support public safety in the District of Columbia this
A highlight from Meaner
"Hi everybody, welcome to The Dennis Prager Show. There are a couple of articles, interestingly, at the same time on a question that is worth discussing. And that is, David Brooks of the New York Times had a long piece in the Atlantic and there was another one before that and also in the Atlantic as it happens. Which is on the left but the subject is, the thesis may be on the left but the subject is not left or right. And the subject is, are Americans becoming meaner? Have you thought about that? Does that strike you as a phenomenon that's taking place? For example, the number of people kicked off airplanes for rowdy behavior, for screaming, shouting, cursing, is much more than it was in the recent past. Yeah, I think people are becoming meaner. You think people are becoming meaner? I think there are lots of reasons for that. Yeah, well that's the issue. So there are two issues. Are people becoming meaner? And if so, what would the reasons be? And sense I it too. The ease with which I see people on the road flipping off other drivers, for example, especially younger people, though I think the phenomenon is more widespread. You know, I've traveled, as many of you know, I've been to 130 countries. I've traveled abroad every year of my life since I was 18, except for 20, was it 20, 21? 20. Or 20, 20? 20, 20. 20, 20. I even went, yeah, I even went to East Europe in 2021. It was not easy to travel on. So I had developed a certain sense, and it may be completely erroneous, I don't claim that it's infallible, but I did develop a certain sense of the world's friendliest people. And I've always included Americans on that list, and very many Americans remain, of course, quite friendly. But there's a sense of tension out there, and it's hard to put one's finger on it. I'll tell you one thing that may be related and may not be, because there was yet another article that I was reading, and that is with regard to service by the airplane or airline industry, that they're shifting as much as possible to artificial intelligence chats, which I find, personally, I find useless. Some airlines have abandoned human interaction completely, which is, by the way, another subject that I will cover. I doubt many listeners know this, but the only example I remember in my life of being for government intervention as opposed to non -intervention with regard to business was the airline industry. It was done, I believe, under Ronald Reagan, and I did not believe… Oh, it was Jimmy Carter, yeah? Well, at least it shows that I wasn't partisan in my outlook. But of course, the conservatives supported it, and I totally understand why. You don't want to regulate industry. But I remember thinking, if the airlines start competing solely on price, then I don't know how the excellence of the airlines will not be diminished. Do you ever see, for example, do you see… I don't watch TV, so are there airline ads on TV? Are you aware? You know, Fly American, Fly Delta? You don't watch TV either. Zach, you live in front of the television. Right, so are there airline ads, Fly Delta, Fly American? Yes. There are? That's fascinating. I wonder why, because in so many cases you have no choice. I mean, those of you listening in St. Paul and Minneapolis, Twin Cities, if you don't fly Delta, essentially you drive to a city that you can have some options for. seats So the got crampier. They no longer serve meals. It's very, very hard to get somebody on first try if you call in to the airline, and that's because everything is devoted to the bottom line. Now, I don't lose perspective. I know how lucky I am that I fly first class, and my height I have essentially no choice. But I was on that… when was it on? Which airline? Oh, JetBlue, yes. I flew JetBlue from Fort Lauderdale to L .A. Saturday night. And room the in the first row, which has always had a lot of rooms, the bulkhead in first class, it was a little more than the somewhat roomier seats in coach. And the flight attendant was very open. She said, oh yeah, they reconfigured the plane, so there's just less room in the seats. This was first class. Because you make more money if you sell more seats. It's obvious. So, back to the issue of the meanness, and the many articles about it. The question is why, if it is happening, and if it is, that's a very, very bad sign in America. How America got mean is the article. And it begins here, in a culture devoid of moral education, generations are growing up in a morally inarticulate, self -referential world. his So, theory is they're not taught to be an ethical human being. Well, ethical is not the same as nice. You could be not nice and ethical. So, he calls it morally or inarticulate, self -referential world. Over the past eight years or so, I've been obsessed with two questions. The first is why have Americans become so sad? The rising rates of depression have been well publicized as have the rising deaths of despair from drugs, alcohol, and suicide, but other statistics are similarly troubling. The percentage of people who say they don't have close friends has increased fourfold since 1990. The share of Americans ages 25 to 54 who weren't married or living with a romantic partner went up to 38 % in 2019 from 29 % in 1990, a record high 25 % of 40 -year -old Americans have never been married. So, one out of four Americans 40 years old have never been married. I've reported on that. These are data that I have given you over the course of the past year. The percentage of high school students who report persistent feelings of sadness or hopelessness shot up from 26 % in 2009 to 44 % in 2021. Do you remember in high school having persistent feelings of sadness or hopelessness? No. I was talking to the usual teen. No, the usual teenage angst, of course, but this is persistent feelings of sadness or hopelessness. Yeah, I don't think we were atypical in that way. My second question is why have Americans become so mean? I was recently talking to a restaurant owner. That's exactly whom to talk to, restaurant owners. He's right, back in a moment. Natural disasters, airline cancellations and runway near misses, supply chain issues, inflation, rising interest rates and sky high government debt. This is Dennis Prager for AmFed Coin and Bullion. There's a lot in the news about what consumers cannot control. So, let's talk about what you can control. You can control how you choose to invest and protect your wealth. That's why I choose to do business with Nick Grovitch and his company AmFed Coin and Bullion. They pay time to own tangible assets like gold, silver and platinum with over 41 years experience and tens of thousands of satisfied clients. Nick will help you make informed decisions and show you smart choices which have been proven winners time and time again. AmFed Coin and Bullion will sell you the right types of precious metals to get the maximum value for your money. Take control of your investments like I did. Call Nick and his team at AmFed Coin and Bullion at 800 -221 -7694. Americanfederal .com. Americanfederal .com.
A highlight from 681:Shutdown, SEC Woes, Bitboys Scandal & Binances Regulatory Ballet
"Good evening and welcome to The Crypto Overnight -er. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Tuesday, September 26, 2023. Welcome back to The Crypto Overnight -er where we have no sponsors, no hidden agendas and no BS. But we do have the news, so let's talk about that. But before we get started, I'm going to apologize in advance. Autumn is my absolute favorite season and the weather is just turning where I live. So while I'm recording this, I have the windows open to listen to the rain outside. If the sounds of the rain leak into the podcast, sorry not sorry. It's my favorite weather. Tonight we delve into the high -stakes game of regulatory chess. From a looming U .S. government shutdown that puts crypto legislation on ice, to Binance's game of international regulatory hopscotch, it's clear that the battle lines are being redrawn. And let's not forget the personal dramas that sometimes spill over into the crypto world. Tighten your seatbelts, it's going to be a bumpy ride. One thing that's causing ripples across the crypto landscape? The looming U .S. government shutdown. The clock is ticking, and the shutdown could have far -reaching implications for the industry. First off, the shutdown is a result of a congressional budget impasse. This deadlock could freeze an array of federal services, including those that directly impact the crypto industry. We're talking about delayed crypto bills, folks. Bills focused on crypto regulation, market structure, and stablecoins could all be put on hold. The Financial Innovation and Technology for the 21st Century Act and the Blockchain Regulatory Certainty Act, and the Clarity for Payment Stablecoins Act are all in jeopardy. Now let's talk about the SEC. Chair Gensler warned that the agency will operate with a skeletal staff during the shutdown. This is bad news for companies waiting for decisions on bitcoin spot ETF applications. It's also a headache for companies like Binance that are in the middle of corp disputes with the regulator. More about Binance later. But it's not all doom and gloom. Anne Kelly is a former SEC official. She mentioned that the SEC has some budgetary flexibility. In past shutdowns, the SEC has stayed open for extended periods, so there is a glimmer of hope. But what about the courts? Federal courtrooms are likely to continue operating for a few weeks until they, too, run out of cash. So legal battles like the one between the SEC and Binance could remain in motion for now. Let's not forget Congress. According to Sheila Warren, CEO of Crypto Council for Innovation, a shutdown would mean, quote, forward progress on bills will be stalled. The focus of lawmakers could shift, and crypto might not be at the top of the priority list post shutdown. Which would be a shame, because crypto has been making strides with bills moving forward in the house. A shutdown could bring all that momentum to a grinding halt. This is a freeze on innovation and regulatory clarity that the crypto industry desperately needs. The SEC's role in this is particularly concerning. With a skeletal staff, the SEC's ability to make timely decisions on crucial matters like crypto ETFs is severely compromised. This could lead to delays that ripple through the crypto markets, affecting investor sentiment and possibly leading to market volatility. It's a situation that highlights the crypto industry's vulnerability to bureaucratic inefficiencies. As for the federal courts, while they may continue to operate in the short term, any extended shutdown could further slow down legal proceedings involving crypto companies. This is problematic for an industry seeking legal clarity and could result in a backlog of cases that take even longer to resolve. A government shutdown could act as a significant roadblock for the crypto industry, stalling legislative progress, affecting SEC operations, and slowing down legal proceedings. The looming shutdown is a ticking time bomb for crypto. But remember, we've weathered storms before, and we'll weather this one too. While the US plays a risky game with its shutdown clock, Binance is playing its own strategic game overseas. Ready for this? Let's dive in. And hey, if you're finding these insights valuable, don't forget to subscribe and turn on notifications.
A highlight from Pack Wisely, Hunt Confidently: A Two-Part Series with Mike Kentner and David Merrell
"This episode of RadCast Outdoors is brought to you by P .K. Lures, Bow Spider, and High Mountain Seasonings. Fish on! Hey, RadCast is on! Hunting, fishing, and everything in between. This is RadCast Outdoors. Here are David Merrill and Patrick Edwards. Well hello and welcome everybody. Back to the RadCast Outdoors podcast. I'm David Merrill. We'll have to excuse Patrick Edwards today. He is traveling on the road and I am home between hunts for a momentary break in time. I actually was out trying to fill an elk tag this morning and was rather unsuccessful at filling a tag but had a great morning anyways. Fall is in the air guys. It's definitely time to get your gear, get out of the woods, and go enjoy it whether you're fishing, hunting, hiking, or backpacking. I've asked a former guest and another guest to come join us today. I've got Mr. Mike Kentner with me. Hello Mike. Hello. Glad to be here. Yeah, we were out looking for a few elk this morning and hiking around and I twisted his arm and said let's talk about what's in Mike's backpack. As you guys know I like to go hunting and over the years gear has changed dramatically from when I first started in the mid 90s and certainly from when you first started, right? Absolutely. In the early days we carried a fanny pack, nobody carried a backpack. Nobody had the idea Everly stock came out with I think to coin the phrase go in light come out heavy to be able to pack out when you went in. The early days we never did that. It's all kind of a newer concept in my world anyway. And I started in the scouting industry doing 50 milers and that kind of stuff so I had a pretty good grasp on what you should and what weight should be on how to navigate through the mountains. I had some orienteering, some compass, some basic survival under my belt, some first aid and some safety. But you have to put all that together and then you've got to start putting your backpack together and there is so many options now compared to when I first bought a $10 book bag from Walmart and put a few things in it and went hiking around saying man this and when we harvested stuff for the most part I threw a quarter on my shoulder and went hiking down the trail or I went and got horses or a dirt bike or a quad or a four wheeler but for the most part western style stuff it was I remember getting one of the very first real hunting backpacks I got was a fanny pack style. Yeah that's what we all started with back then we carried just the basic essentials maybe something to light a fire with, stuff to take care of your game if you put something down and then if you shot anything you walked all the way back to camp empty changed out for a metal frame and went back in for your meat. Yes and those metal frames have pretty much gone the wayside. A few guys still have them there's some companies making some really cool ones now and what you mean by metal is an external just a frame pack no bag attached nothing. It had a load shelf on it you set the shelf on tight most time they didn't have straps you had to use paracord or some kind of cord to tie your meat onto the pack. Now backpacks have obviously evolved the idea of backpack hunting has evolved and we're discussing a little bit today you know when I'm going on an expedition style Everest climb style hunt I'm taking a completely different kit than I am day hunting elk from the truck. Right everything down to I may use the same frame the same base frame but my bag load will be different I use a very small bag for my day hunts like today I use a 2800 inch bag for my day hunts and you go over a 6000 for a long hunt if you're going in for five or six days or more. Now day hunting what is your backpack in a way versus when the difference between a four day hunt and a ten day hunt you only have food difference you've got the same spotting scope the same shelter the same clothes for this kind of discussion a little bit we're basically going to talk day hunt or multi day now if you're talking four day or ten day that the only difference there is you're adding six extra days of food realistically same if I'm only going two nights then I might do something different but if I'm going for four to five nights I'm doing the same thing I would be doing if I'm doing ten to twelve nights. Yeah as far as your overnight gear still is pretty much the same. So that leads me to this first question is and I used to the first year or two elk hunting here in Wyoming I took my 7000 cubic inch bag just compressed it all the way down ran it empty and hunted with that but it stuck up so much higher than my head every time I duck under something I'm getting hung up so I switched to a 1850 Icon Pro from QU years ago I'm now running the Stryker XL from Kefaru that's my day bag and it's inch and then I throw a Sherman pocket and a guide lid and a claymore so now I'm like 3000 cubic inch but I don't have that completely full and we discuss this how full do you run your 2800 in day hunt mode? My day in day hunt mode is less than half full of what I pack and then I have plenty of room for jackets clothing depending on the weather any of that kind of stuff I'm gonna have in it but my base bag with my everything to take care of game and everything is less than halfway full. So some of the things that are in mind that I can think of is I always have a small first aid kit right nicks cuts scrapes burns some aspirin and then I have a kill kit usually involves I actually really like to use rubber gloves I grew up not doing it but when you're doing multi day multi hunt multi tags it's really nice to have a pair of rubber gloves to keep a little bit cleaner while you're processing but you definitely need those game bags I run six game bags how many do you run? Usually five I keep five in there for elk and big stuff it's always five and the reason guys I'm why running more than four quarter bags is well you've got neck meat back straps tenderloins I like to keep those two separate and what I've found is when we're doing either llamas or horses it's really easy even if we're backpacking and we've got to hang the meat away from bears I like to have all four of those quarters in their own bag and then I need two more for the rest of the stuff and sometimes I even like to grab another bag to put capes in. Yeah it's nice to have one for your cape if you're in the backcountry and you think you're going to have an animal mounted it's nice to have a cape a bag for your cape go as well so I usually carry like when I shot my bull this year I had six bags in me with me at the time so I have my five I primarily put meat in and then I have one backup one for the cape to bag it in so you need a good quality bags and quite a few of them. I don't typically pack water filtration in day hunt mode sometimes I like to run an algae and a bladder bag and I just fill that up in the morning and typically that's four liters of water I can pretty much make it through a day on that much water yeah I'm starting out a little heavier but I don't have to stop and pump during the day so do you what do you do for water in typical day hunt mode? I run bladder bags two liter bladder bags and so I usually run either one and a half or one liter and a two liter or two two liter bags so I'm running three to four liters and but I do carry the small Sawyer water filtration pretty much everywhere weighs under four ounces does about a pint at a time you got to refill the bag but it is a good way to get some extra water if you need it.
A highlight from 677:FTXs $157M Suit, MiCAs EU Impact, and Senates Crypto Gridlock
"Why do tacos get their own day of the week? Is it because Mondays are so rough we need a Tuesday filled with beefy tortillas shared with good friends? If so, why don't we have Wellington Wednesdays stroganoff Saturdays and, heck, beefball Mondays? Then Mondays would just be another reason to enjoy our favorite beef with our favorite people. Together we bring more. Beef. It's what's for dinner. Funded by beef farmers and ranchers. Good evening and welcome to the Crypto Overnighter. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 pm pacific on Friday, September 22nd, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving into the labyrinth of legal battles, regulatory walls, and the global maneuvers that are reshaping the crypto landscape. From FTX's massive lawsuit, to Binance's European jitters, and from the Senate's stalemate on crypto legislation, to India's tightening grip, things are heating up. Buckle up, you don't want to miss this one. FTX is suing former employees of its Hong Kong affiliate, Salamata, for a staggering 157 .3 million dollars. The lawsuit makes allegations against Michael Burgess, Matthew Burgess, and their mother Leslie Burgess, Kevin Nguyen, and Darren Wong, along with two companies they controlled. The suit says the defendants fraudulently withdrew assets leading up to FTX's bankruptcy. This 90 -day period before the bankruptcy filing is known as the preference period. During this time, these individuals allegedly exploited their connections to FTX personnel to prioritize their withdrawals over other customers. But wait, there's more. The lawsuit also claims that Matthew Burgess enlisted other FTX employees to expedite certain pending withdrawal requests. These withdrawals were made just hours after FTX halted all withdrawals on November 8, 2022. More than 123 million dollars of the total 157 .3 million dollars were withdrawn on or after November 7th. Now let's talk about the man at the center of this all, Sam Beckman -Free. Now he's currently in jail awaiting trial. His appeals to get out of jail have been rejected, and so he remains in jail as his trial approaches. What happened is the U .S. Court of Appeals for the Second Court also ruled against SBF. They found no merit in his arguments for release. The court stated that his actions likely fall outside constitutional protection. The court ruled that he likely tampered with witnesses, a claim that he denies. His trial starts on October 3rd where he faces fraud and conspiracy charges. This lawsuit isn't the first time FTX has tried to reclaim payments. They've targeted Beckman -Free, his executives, they've even gone after his parents looking for company funds. But that's not all. His day got a lot worse when Judge Lewis Kaplan blocked all of SBF's proposed expert witnesses. The defense had a lineup of seven individuals from various fields. The Department of Justice objected and the judge sided with them. The defense can't try again, but they're in a tight spot. If convicted, SBF could face over 100 years in prison. Now if you think FTX's legal woes are a storm, brace yourself. We're venturing into the choppy waters of Binance and the EU's regulatory typhoon. Smash that like button and follow us for more analysis. Now let's dive in.
A highlight from 1409: BlackRock Bitcoin ETF Will Drive $1,500,000 BTC Price
"In today's show, Bitcoin fails to recoup post -fed losses as $20 ,000 Bitcoin price returns on the radar. In breaking news, the senator who said Bitcoin can open the doors of corruption in El Salvador was indicted for corruption by the federal prosecutors who seized $100 ,000 in gold bars and $480 ,000 in hidden cash from his home. Max Keiser responded to this story. Gold is the poor man's Bitcoin. It encourages thievery, war, violence, excess stupidity like Peter Schiff and Nassim Taleb, both who turned down my offer of free Bitcoin at $1 in 2011. Also in today's show, Bitcoin blast pass is 2021 all -time high in Argentina, but hyperinflation outpaces once again. We'll also be discussing Binance and CEO CZ asked the court to dismiss their SEC suit. I'll be breaking down this latest saga as well as Bybit will suspend services in the UK following the financial regulators final warning. We'll also be discussing Nick Carter doubling down on the theory the Bitcoin was invented by the NSA. We'll also be discussing major fund managers as the BlackRock ETF will drive the price to $1 .5 million per Bitcoin as it literally unlocks $30 trillion worth of capital. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. And a quick reminder, if you gain value out of today's episode, the greatest compliment you can give, simply smash in that like button as it helps out tremendously with a YouTube algorithm. And if you're not already subscribed to the channel, you know what to do to receive daily premium crypto news alerts every single day, just like this.
A highlight from The Breaking of the Global Economy with Nik Bhatia
"You can imagine a world in which people actually have more power than institutions and governments. Bitcoin has the ultimate power in making the world a better place for people. Hello there from sunny Bedford. Hope you're all doing well. Got a nice weekend planned ahead. Obviously for me, it's going to be football weekend. We've got home games for the men's hopefully getting through to the next round. And our ladies who won every game this season, they're going to be playing some Auburn. So it's a busy weekend of football for me and obviously talking about Bitcoin to people. We've actually got a meetup at the game tomorrow. So if you get in this early and if you're in and around Bedford, you want to come down, come down to Bedford. We're going to talk about Bitcoin before the game. Anyway, welcome to the What Bitcoin Did podcast, which is brought to you by the absolute legends at RS Energy, the largest NASDAQ listed Bitcoin miner using 100 % renewable energy. I'm your host, and today I've got my buddy Nick Bartier back on the podcast to get into all things macro and Bitcoin. Now, when we planned our trip to Australia, Nick was a very obvious person to ask to come out and take part in the live event. And while we're there, we took the opportunity to record another show with him. And the legend he is, he absolutely delivered. Now, the first time I spoke to Nick was about four years ago. I met him in LA. I can't believe it. It's gone so quickly. But Nick has always been a solid person to have on the podcast over the years. And as ever, he absolutely killed it. He has a very good and simple way of explaining complicated macro stuff, which I know some of you listeners love. So big thanks to Nick for coming out to Australia and for all the support he's given the podcast over the years. And if you haven't checked out his book, please do go and get it. It's an amazing book, and Nick is an amazing asset to Bitcoin. Also, if you've got any questions about this or anything else, please do hit me up. My email is hello at whatbitcoindid .com. Just a few things outside. We're going to be heading out to LA in about 10 days. It's gone around so quick. Actually, even soon. I think it's nine days. Going to be heading out to Pacific Bitcoin. But we're also going to be doing some interviews there. With regards to the two films we've made, Argentina's in the final edit. That should be released in the coming week, maybe two weeks, but the coming week. And then we will move into editing the Lebanon film. Two amazing films. Just, I mean, not the films are amazing, not that we're privileged to have gone out to these places and made these films. And just another big thanks to RS Energy for sponsoring all this because without their support, I couldn't have done this. Okay, on to Nick. Hope you enjoy the show.
A highlight from The Hawkish Halt: Why the Market Finally Believes "Higher for Longer"
"Welcome back to The Breakdown with me and LW. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Thursday, September 21st, and today we are going macro talking about the FOMC conference, what it means, where in the cycle we are. But before we get to all of that, if you're enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review. Or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Well, friends, hallelujah, we have an episode that is not about Binance or the SEC. Yes, today we are talking macro. And I have to say, it feels like we are in the culmination of a phase. We know that we are close to the top from an interest rate perspective, but we don't know if we're actually there. We don't know how real economic conditions are going to change things. We certainly don't know when we're going to start heading the other direction and having rates come down. And we're still living in this weird limbo where things don't feel great, but we aren't in a recession. And so you take all of these factors together. And I think that people were watching this FOMC meeting just a little bit more closely than we have for the last few. The TLDR on what actually happened is that Federal Reserve officials decided to hold rates steady between 5 .25 and 5 .5%. Now, this is the second straight meeting with no change in policy settings, with the Fed funds rate remaining at 22 -year highs. And because there is always a key word or a key phrase when it comes to these FOMC meetings, this one was definitely proceed carefully. During his press conference, Fed chair Jerome Powell emphasized that despite strong economic data since the last meeting, the FOMC were in a position to, you guessed it, proceed carefully. Now, this phrase was repeated six times throughout media questioning, always to some extent around an assertion that the committee didn't need to make any decisions quite yet about what was coming next. Talking about the committee, Powell said, Really what people are saying is, let's see how the data come in. They want to be convinced. They want to be careful not to jump to a conclusion. Fed whisperer Nick Timiros, chief economics correspondent at the Wall Street Journal, said, Powell used the words proceed carefully six times during Wednesday's news conference, a sign of heightened caution about lifting rates. Forward guidance host Jack Farley said, The last time Powell used this language in his speech before taking questions was March 2023, and this was in the context of monitoring potential tightening of credit conditions post -SVB. So, adding a little more meat to this proceed carefully bone, Powell stressed that taking no action right now was the most prudent choice at this stage of the inflation fight. He said, Inflation has moderated somewhat since the middle of last year, and longer -term inflation expectations appear to remain well anchored. Further, he said, As we get closer to the stance of monetary policy that we think is appropriate to bring inflation down to 2 % over time, the risks become more two -sided and the risk of over tightening and the risk of under tightening becomes more equal. I think that the natural common sense thing to do is, as you approach that, you move a little more slowly as you get closer to it. And that's what we're doing. And you get here kind of why I'm saying that we're at the crescendo at this stage culmination kind of moment. But what's difficult for people is, of course, that what Powell is doing as we get closer to coming into the station is he's reducing the speed. Now, alongside the rate decision, the meeting also included the publication of the Quarterly Summary of Economic Projections, or SEP. The SEP contains a range of forecasts from FOMC members on the future path of rate policy, known affectionately as the dot plot, as well as a range of other economic projections. The dot plot showed that 12 of the 19 Fed officials had penciled in one additional rate hike by the end of the year, meaning effectively a split decision on whether the Fed should call an end to their tightening cycle. Now, when asked about rates and whether we're in restrictive territory, Powell said, The fact that we decided to maintain the policy rate at this meeting doesn't mean that we've decided that we have or have not at this time reached that stance of monetary policy that we're seeking. If you looked at the SEP, you will see that a majority of participants believe that it is more likely than not that it will be appropriate for us to raise rates one more time in the two remaining meetings this year. Now, beyond that specific note around one more hike, the main takeaway from this set of forecasts was also that rates would remain higher for longer. Rate expectations for 2024 were bumped up slightly, with the median forecast coming in at 5 .1%. And this represented a 50 basis point increase from the forecast published in the June SEP. Putting it a different way, that means that only two rate cuts are expected to be necessary next year, rather than the four which were previously forecast. Core PCE inflation was forecast to fall to 3 .3 % to close this year and moderate further to 2 .5 % across 2024. With inflation forecast to moderate faster than the FOMC expects to cut rates, that would signal an intention to hold the Fed funds rate in restrictive territory until at least the end of next year. Rounding out the numbers from the SEP, GDP growth is forecast to moderate, finishing the year at 2 .1 % and reducing to 1 .5 % for next year. And unemployment is forecast to only rise slightly alongside this growth slowdown, leveling out at 4 .1 % over the next two years from its current level of 3 .8%. Now from here, let's get into some of the topics that were most hot buttoned and ran throughout the presentation and the press conference after. One of the big topics was, of course, the fabled soft landing. This set of projections is a long way from the dire forecast from just a few months ago. At the August meeting, Powell disclosed that Fed staff had been predicting a recession. This time, while definitely not a booming economic projection, the small uptick in unemployment while growth and inflation moderate were essentially forecasting a soft landing. When asked if a soft landing is his baseline expectation, Powell stated, Still, Powell made sure to emphasize where the FOMC's real focus was.
A highlight from Why messaging should be part of your content strategy, with Nick Martin
"Yeah, I would probably first just say I don't know that those are binary, and I don't know that they're black and white. It's one or the other. But forced to choose, I think we're much closer to the former than the latter in the sense of the experiences that we power and that we're continuing to invest in being able to build out are always starting from a place of how do we best take advantage of our publishers content, which is written by humans. And then we think that's a really important ingredient here and leverage what's happening around AI and make it really easy for the publisher to maybe convert their content, maybe augment their content, but in one form or another enhance it, make the experience more interactive, more user -friendly, more personalized, more relevant through chat as the interface that we're building around. And so in that sense, content is the core of it. It's about the stories you've written, the things your journalists have researched, the articles you're publishing, and the topics that your readers are already on your site for. You already have this audience, and certainly a big part of what we do is getting you a new audience by distributing these chatbots in other platforms where maybe you didn't have a presence before because these are chat endemic environments like this one. Again, things are moving so quickly here, and the opportunities are so broad. There is sort of a spectrum, I think, between example A and then this companion assistant version of my AI or Chashi BT or what like the promise I think of Siri and Alexa was back in the day. And I do think things can move that direction even for content companies. And we've assisted for their content a librarian that's personalized to every reader. We've gotten those analogies in sort of private meetings from publishers that we're working with and talking to, and there's ways to take advantage of our platform to deliver that experience. I do think it's still different than what you would see from my AI on Snap where it's more or less, and not to diminish it, I think they've done tremendously well despite some of the challenges that you alluded to. It's more or less the Chashi BT experience, right? It's a wrapper on an LOM. It's broad and horizontal. It's anything that was made available in training data from the public internet. We refine what we do to the publisher's content so it's specific and targeted and accurate. But we're also not trying to drive the I'm your best friend, tell me about your problems, let me recommend a restaurant to you. If you're chatting with a sports publisher, you're not going to ask them for where to go get pizza Friday night, right? But you can imagine over time, maybe that sports publisher does help you find the best sports bars to watch the game, and maybe there's a commercial opportunity underneath that by way of referral or advertising or otherwise. And so it'll continue to evolve. I think if you look at what's happening in the very, very early days around the agent behavior, that also becomes quite compelling and might put a task underneath it, which they're going to be able to do pretty quickly here. But that's not ready for prime time for all types of publishers, the world's biggest, most reputable brands just yet. Yeah, yeah. And so a lot of your publishers, the large publishers, they've got lots of different ways of monetizing what they do. Some of them are subscription based. You mentioned like ESPN and so they've got like TV channels and subscriptions and all kinds of stuff going on.
A highlight from 673:Warrens Anti-Crypto Moves and Hong Kongs JPEX Crisis
"Every parent wants to witness the many firsts in their child's life. First steps, first word, first haircut. But what about their first bite of beef? Complete with nutrients like iron, zinc, choline, B vitamins and protein, it's vital for strengthening little minds and little bodies. Making that first bite of beef a moment for everyone to savor. Together, we bring more. Beef. It's what's for dinner. Funded by beef farmers and ranchers. Good evening and welcome to the Crypto Overnighter. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific Time, Monday, September 18th, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas and no BS. But we do have the news, so let's talk about that. Tonight we deep dive into JPEX's meltdown in Hong Kong and what that means for crypto regulation. Next we examine the $70 million hack that rocked Coinex and the geopolitical implications behind it. Then we turn our attention stateside to discuss Senator Elizabeth Warren's anti -crypto bill and the brewing congressional storm over central bank digital currencies. We'll also break down the recent celebrity lawsuits surrounding the now -defunct FTX exchange. And finally we will close with a look at how Europe is taking the lead in crypto ETFs, while the US languishes in regulatory limbo. Buckle up, it's going to be a time. Hong Kong -based crypto exchange JPEX is under fire from the Hong Kong Securities and Futures Commission. The SFC arrested one person linked to the exchange. We've been talking about JPEX for a couple of days now, and it sounds like they're off to kind of a rough start. JPEX has been operating without a license in Hong Kong. The exchange received numerous complaints, leading to a police investigation. Amid liquidity issues, JPEX suspended all transactions on its earned trading interface. The exchange is also considering restructuring as a decentralized autonomous organization, a DAO. Joseph Lam, a crypto influencer and former lawyer, was arrested in Hong Kong for his association with JPEX. The police raided his office and seized evidence. Lam had urged affected JPEX users to report losses via a police hotline. The SFC warned last week that JPEX and crypto influencers have made false or misleading statements. The police have received at least 83 complaints involving JPEX, amounting to $4 .3 million. JPEX froze certain operations and raised withdrawal fees due to a liquidity crisis. The exchange claimed that its third -party market makers have, quote, maliciously frozen the company's funds. Some users report a $999 USDT fee for withdrawal, with a maximum set at 1 ,000 Tether. JPEX also froze its game platform. The SFC expressed concern over JPEX's misleading statements about licenses and high returns for its products. The arrest and the subsequent probe into JPEX signal a tightening regulatory grip on crypto exchanges operating without a license. This is not just a one -off incident, but a warning shot to other platforms that might be skirting the law. The SFC's involvement and the arrest of a high -profile influencer like Joseph Lam show that the authorities are not taking this lightly. The liquidity crisis at JPEX is a red flag for sure. Not all exchanges are as transparent or as stable as they claim to be. The high withdrawal fees and frozen funds are alarming signs that could lead to a loss of trust among users. The move to restructure as a DAO might seem like a strategic pivot, but it's more likely a desperate attempt to regain some semblance of stability. The 83 complaints against JPEX and the $4 .3 million involved indicate that this is not a small -scale issue. It's a significant problem that could have ripple effects across the crypto landscape in Hong Kong and potentially beyond. The authorities are clearly taking steps to clamp down on misleading practices and unlicensed operations, which could set the tone for future regulatory actions. The JPEX saga underscores the importance of due diligence and the need for regulatory oversight in the crypto space. It also raises questions about the role of influencers in promoting platforms that may not be as secure or as regulated as they claim. This is a wake -up call for all involved in the crypto world, reminding us that with high returns come high risks. Alright, from one sinking ship to another. If you think JPEX's meltdown was a shocker, wait till you hear about Coinex. Before we dive in, give us a like and hit that subscribe button if you're enjoying the show so far. You won't want to miss this.
A highlight from New Cancel
"I explain everything that goes on. I basically stand for four hours. It's a long service, but I learned very early in my career that if you're interesting, it's never too long. And if you're boring, it's never too short. It's never short enough. Let's put it that way. That's what people want. They want to be interested. That is the key to all communication, by the way. I learned that when I was a kid. And I remember asking myself when I had a boring teacher, does he know he's boring? A very interesting question about people who are boring, do they know it? And I suspect that the answer is no. Well, welcome to the show. I will be having the Superintendent of Education of the State of Oklahoma on. He has been the recipient of a massive amount of hate because he has opened Oklahoma schools to PragerU videos. PragerU videos are just simply wholesome. That's what they are. That's why the left hates them. And they hate them. There is no left wing major medium, and there is no medium period that is mainstream, which means all left. That has not accused us, for example, of defending slavery and of me being a white nationalist. Can you imagine that? A white nationalist. I knew that the struggle to do good in life would entail difficulties, but I will admit I never realized what headwinds one sails into when one wants to do good in life. The forces of destruction are so powerful, apparently in the human being. But people who actually think you are a hater if you don't think teenage girls should have their breasts removed if they say they're boys, you are a hater. They are lovers of these girls. We are the haters. And that is believed at the New York Times and the Washington Post and CNN and NPR. Do you realize that? If you went to college and you took courses in the humanities and not just STEM, science, technology, engineering, math, the odds are you believe that, too. You believe that people who oppose girls having their breasts removed when they are a teenager, that these people are haters. Here I'll give you the latest proof. Let's see, what is this? Microsoft Office has identified a potential security concern. You have to be kidding. This is from Breitbart. BBC Radio scraps Irish singer, Sean, are you familiar with her? Roisin Murphy. After she called out puberty blocking drugs, the BBC has removed an Irish singer from a prepared feature radio broadcast following leftist backlash over her opposition to children being put on puberty blocking drugs. That's really something. Roisin Murphy, an Irish singer -songwriter formerly of the pop duo Moloko, has become the latest figure of hate for the woke transgender movement after a private post on Facebook criticizing the radical practice of presenting hormone -altering drugs to children was leaked onto social media by a friend last month. Puberty blockers are effing absolutely desolate, big pharma laughing all the way to the bank, Murphy wrote. Little mixed up kids are vulnerable and need to be protected. That is just true. Please don't call me a TERF. TERF is Trans Exclusionary Radical Feminist. You know, they destroy everything that they touch the left. Everything. Did I say everything? Let me repeat it. Everything from medicine to art to sports, they destroy everything. That's all they do. But there is one thing that they build, vocabulary. I'm telling you they're geniuses at terminology. A TERF is a Trans Exclusionary Radical Feminist. In other words, you're a feminist, but you have problems with the idea that sex is not binary or as they put it gender, a distinction that they made up incidentally. Please don't call me a TERF. Please keep using the word. Please don't keep using the word against women. She added in reference to that slur used by the woke left against women who oppose the trans movement. After her post was leaked, a wide backlash ensued with the Left Wing Guardian newspaper declaring that Murphy's latest release had been compromised, quote unquote, for many fans over her views, adding that, quote, for many fans, particularly queer fans, this album is DOA, Dead on Arrival. I don't understand. What does this have to do with being gay, which is the term I think queer is meant to mean gay here? By the way, I wish I had a recording. At least 10 years ago, I asked why there was a T added to LGB. It has nothing to do with it. Why are gay groups aligned with people who deny that sex is binary? What does that have to do with being gay? The answer is nothing. Nothing. That means that the gay groups, as opposed to every individual gay, are as interested in tearing down the norms of society as the trans activists. That's what it means. Since there are quite a number of gays in my life, including on the board of directors of PragerU, I know that this is not true for all gays, but it is true for the activists. Gay activism achieved its greatest single ends. The greatest single end was same -sex marriage. But it didn't stop them for a day of trying to undo civilizational norms like the idea that you are born into a sex and you cannot leave it. You can pretend to leave it. You can do staggering amounts of surgical work on your body. You can take a new name. You can act a certain way. But you are not it. A white cannot become a black by acting such, or a black a white. It is fixed. Ironically, it is less fixed than sex. The Guardian went on to defend the usage of the often life -altering drugs without acknowledging the growing amount of evidence of physical harm caused and that countries such as the UK have recently placed heavy restrictions on providing them to children. Then this week, BBC's Radio 6 scrapped the planned five -hour set of Murphy songs, concert recordings, and interviews, replacing her feature with rapper Little Simms. The BBC has claimed that the decision was not inspired by the controversy surrounding the Irish singer, but rather to promote upcoming spoken word and rap programming. Yeah, it is very hard to believe. Anyway, that was my living example here of what happens if you go against the grain on this subject. Cancel culture. There is no example of left being in power anywhere since the Russian revolution and not engaging in cancel culture. Gold dealers are a dime a dozen. They are everywhere. What sets these companies apart and whom can you really trust? This is Dennis Prager for AmFed Coin and Bullion, my choice for buying precious metals. When you buy precious metals, it is imperative that you buy from a trustworthy and transparent dealer that protects your best interests. So many companies use gimmicks to take advantage of inexperienced gold and silver buyers. Be cautious of brokers offering free gold and silver or brokers that want to sell you overpriced collectible coins, claiming they appreciate more than gold and silver. What about hidden commissions and huge markups? Nick Grovitch and his team at AmFed always have your back. I trust this man. It is why I mention him by name. Nick has been in this industry over 42 years and he is proud of providing transparency and fair pricing to build trusted relationships. If you are interested in buying or selling, call Nick Grovitch and his team at AmFed Coin and Bullion, 800 -221 -7694, americanfederal .com, americanfederal .com.
A highlight from Macroeconomics & On-Chain Data with Nik Bhatia & Willy Woo - WBD Live in Sydney
"We know from history that increased trade reduces the likelihood of armed conflict. So what if Bitcoin can actually contribute to world peace? Good morning from Lebanon. How are you all? Now listen, before we get into today's show, I've got to say if you've never thought of going to Lebanon, please do put it to the top of your list. It wouldn't be an obvious choice for me, especially a country which is under economic crisis. But I've had the most incredible time here. Everything about it I love. I love the people, the food. It's a beautiful place. We've been out to the mountains. Beirut is bustling. It's a cool city. Yes, it has its challenges. Yes, you will see it. But honestly, it's such an incredible place. I love it. I'm actually planning on coming back. I want to bring my kids out here. Also, I've been making a documentary and I want to say a massive thanks to everyone who's come out to help do that. Yes, I love Lebanon. I love it. You know what? I've been so fortunate to travel to so many amazing places that I wouldn't normally go to because of making these films. But put Lebanon on to the top of your list. Try and come out here. It's an incredible country and the tourism would be great for them. Anyway, welcome to the What Bitcoin Did podcast, which is brought to you by the absolute legends at Iris Energy, the largest NASDAQ listed Bitcoin miner using 100 % renewable energy. I'm your host, Peter McCormack, and today we have a part two of the live event we held in Sydney just over a week ago. Now, in this second part, we've got my good friend, Nick Bartier, on who made the trip from LA to be with us in Sydney, and we also got Willy Woo back, who hasn't been on the show for a long time. Now with Nick, we get into macroeconomics and the role of Bitcoin, and with Willy Woo, we get into a market update, and of course, we ask the question, when moon? Do you know what? Willy is a bit pessimistic, and so we deal with that. But it was great to get out to Sydney. I want to get back to Australia. Australia probably will do the same thing next year. Also, we're going to try and get some other places. Somehow we're going to try to get some other places we haven't been. Anyway, listen, I hope you enjoyed this. If you've got any questions about this, the live shows, Lebanon, anything else, you can drop me an email. It's hello at whatbitcoindid .com.
A highlight from 672:North Koreas Russian Crypto Strategy & Indias Dollar Rejection
"Why do tacos get their own day of the week? Is it because Mondays are so rough, we need a Tuesday filled with beefy tortillas shared with good friends? If so, why don't we have Wellington Wednesdays stroganoff Saturdays, and heck, beefball Mondays? Then Mondays would just be another reason to enjoy our favorite beef with our favorite people. Together, we bring more. Beef. It's what's for dinner. Funded by beef farmers and ranchers. Good evening, and welcome to the Crypto Overnighter. I'm Nick Ademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific on Sunday, September 17th, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving into North Korea's cozy relationship with Russian crypto exchanges. Are they laundering money, or is it something far more sinister? We'll also look at India's ambitious plans to cut the dollar out of its trade equation. What does this mean for the future of fiat, and how might it impact the crypto landscape? Then we'll discuss the Hong Kong Monetary Authority's stern warning to crypto firms misusing the term bank. And don't think we're ignoring the bankruptcy saga of FTX and their reopened claims portal. Last but not least, some big names weigh in on the future of fiat and crypto. Fasten your seatbelts, it's gonna be a ride. Hacking groups linked to North Korea are increasingly using Russian exchanges to launder stolen cryptocurrency. Chainalysis noted this shift in strategy. The blockchain analysis firm also highlighted a recent transfer of $21 .9 million stolen from the Harmony Protocol to a Russian exchange known for illicit transactions. This move coincides with the summit between Kim Jong Un and Vladimir Putin. UN sanctions monitors are also noting North Korea's evolving cyber tactics aimed at funding its nuclear programs. Elliptic, another analytics firm, reported that North Korea's Lazarus Group is responsible for the theft of almost $240 million in crypto in just 104 days. The group has been linked to five major crypto hacks in the last three months, including a $54 million hack of the global cryptocurrency exchange CoinX. Chainalysis data shows that the value of stolen cryptocurrency associated with North Korean hacking groups exceeds $340 .4 million so far in 2023, compared to $1 .65 billion last year. Despite the decrease, North Korea remains a significant threat in the cybercrime landscape, accounting for 29 .7 % of the cryptocurrency stolen through hacks in 2023. The DPRK -Russia cryptolink is more than just a financial loophole. It's a geopolitical chess move. While the world focuses on sanctions and arms talks, North Korea and Russia are quietly building a financial alliance in the crypto underworld. This isn't just about money. It's about power, influence, and a shared disdain for Western sanctions. Chainalysis and Elliptic aren't just telling us about hacks. They're exposing a growing alliance that could reshape the crypto landscape. Russia's noncompliance with international efforts gives North Korea the perfect cover to continue its operations. It's a symbiotic relationship where both nations benefit at the expense of global financial security. The drop in the value of stolen assets this year could be a smokescreen. North Korea's share of crypto hacks may have decreased, but let's not forget they still account for nearly a third of all stolen crypto this year. In a world increasingly dependent on digital assets, the DPRK -Russia cryptolink is not just a financial concern, it's a security crisis. It's a glaring example of how decentralized finance can be weaponized. As long as Russia turns a blind eye, the crypto world will remain a battlefield where the DPRK can operate with impunity. We've just unraveled the shadowy links between North Korea and Russian crypto exchanges. From one geopolitical chessboard to another, let's pivot to India's audacious move to cut the U .S. dollar from its trade equations. How's that for a change in global power dynamics? But first, if you're enjoying this deep dive, hit the subscribe button.
A highlight from A Massive Crypto Bull Market Is Starting VERY VERY SOON! Crypto Banter 649K subscribers
"This special episode of Crypto Banter is brought to you by Isla Micron, a digital asset designed to create ethical finances in crypto. We're back in Singapore. In fact, right there, the Formula One is going to start this Sunday. More importantly, this is Asia's financial district, and we're here for token 2049. It's the biggest crypto conference I've ever seen. You've got more people and they're excited. There's a great energy. They're talking about big things, like what's going to power the next bull market? Is it going to be the ETF, the institutionalization of crypto? Is it going to be AI? That is what people are talking about here, and the energy is insane. Let's go take a look inside. Welcome to Singapore. The energy here is absolutely insane. We speed up the stairs into the hall, right to our Crypto Banter set. We'll be planted here all countries, talking to top guests, market movers, market innovators, extracting alpha, bringing people in crypto together, and delivering the best that the week has to offer right here to you. I mean, get the vibe here, get the energy that's going on here. Unbelievable. There's no bear market in Asia, that's for sure. Biggest conference I've ever been to. We're surrounded by no less than what makes this market go round. On the one side of us is Ripple. On the other side, Casper. Across from us, Clayton and Polkadot. Down the way, Cardano, Chainlink, Algorand, Antron, Layer 1's oracles, and more, building on the backs of Bitcoin and Ethereum in this ever -growing ecosystem of technology, currency, information and community. But with institutions and mainstream Web 1 companies pouring in, like Google, Bakkt, Sony, CME, and ETF applications from big banks, at what cost? And at what point in the battle are we? All right, so we're here at token 2049. As you can see, I'm running the show here. Well, let's go. This is the entrance. It's much bigger than last year. You're going to see a lot of the big protocols, a lot of the big projects here. You've got Avalanche over there. You've got... What is this? Uh, wow, look at this. This is the entrance to token 2049. Thank you, ladies. Ciao. As we walk in, it's all about exchanges. We've got Bitkiet over here. Big, big, big presence here. We've got Leo Messi, obviously, you know, the ambassador. Definitely, definitely my favorite, favorite, favorite player. I can tell you where we are. Singapore, Asia's de facto financial figurehead, and the Marina Bay Sands, its futuristic fortress, and the center where we've all come. 10 ,000 people plus, and here's what we see. A bullish setup of battle with a volatile mix of regulation, AI, and the halving, all facing us ahead of 2024. Bitcoin price end of 2024, $120 ,000, that's what it says. Look into the ball. Speed ahead, and you'll hear Ripple's CEO himself talking about all things regulation. We can't pretend that, like, government regulation doesn't matter. But here's the overwhelming takeaway from all these market experts. We've definitely hit the bottom, and things are looking bullish. But don't take my word for it. Take Arthur Hayes'. So that when this thing starts rhyming, potentially, it has a lot of room to grow, and from a low level, it doesn't take that much of effort in terms of money coming in the system, but it's going to go up 220x. Did he just say 220x? I think he did. It's not just bullish by setup, but it's also bullish by philosophy, according to Bellagio and to the Winklevoss twins. I think that's actually what everybody here shares. It's free speech, it's free market, it's voluntary, it's entrepreneurial, it's global, sort of the Utopia idea of the open internet of Web 1. And indeed, if this Web 3 narrative is here to stay, everyone from CZ to Nick Carter and Jake Bruckman from CoinFund to Sandeep at Polygon all believe that AI will play a crucial role. It needs to preserve its competitive advantage in terms of being able to on -board more and more developers. And developers and builders continue to do just that. Building, especially ahead of the all -important halving, which is less than nine months away. Even building on Bitcoin, like the ordinals, Munib, Alion, Stacks. And what Willy Woo says is that there's much more activity on chain these days. What you see here is the maturity of the market on the Bitcoin network. Another bullish indicator, gaming. More games than ever here at token2049, and its principal proponents here promoting Web 3 gaming from Pixelmon to Yuga Labs to Animoca and many, many more. As you can see, the conference is so full, people are sitting here on the floor, on stage. The two biggest countries that are looking at exporting Web 3 games right now is Korea and China. Ah yes, Asia taking center stage here with the regulatory uncertainty in the US. We're in Singapore helping spearhead crypto adoption on this continent. In fact, one of the highlights of the whole conference and one of the biggest announcements was Jeremy Alair from Circle announcing a partnership with Grab, the pan -African Asian app integrating USDC. We're focused on working with established consumer internet companies, established payment companies, digital wallet companies, commerce companies. So you're going to see partnerships with a lot of different firms like that, that we continue to roll out.
"nick" Discussed on Veteran on the Move
"It shows up. Awesome. So if somebody is interested in getting in touch with you about your coaching services, how would they do that? Yeah. The best way is just go to Nick Devlin coaching dot com and there's a contact page, just that'll email me. With your message, I'm also going to share a couple of things a couple of resources here. So I'll take those up. There's a way to get a hold of me as well. And yeah, I'd love to connect with anyone who's even exploring what's next, and if I can help them great, if not, I'll point you in the right direction. All right, you got a free giveaway there in the website also. Yep, the free giveaway is just Nick Devlin coaching dot com slash dream. Slash dream. Yep. All right. And what's that all about? So that's just a tool that's a little bit of a DIY tool for you to go through and reflect on experiences in your life that were peak moments for you. That were peak experiences. And then it kind of helps guide you to see how those experiences can actually start to point you in the right direction towards finding your next purpose, your next mission, and creating a life you love. Awesome. And if you're talking to some of those veterans that are getting out of the military, they want to get into entrepreneurship, start their own business, not sure what their idea may be. They're looking at corporate America to gain that paycheck, but there's just not really speaking to them. What kind of advice would you have for them as far as starting your own business and getting in entrepreneurship? Yeah. It's definitely a case by case basis. If you need the cash, take the corporate job, right? Use what you got in front of you. Just don't lose sight of what lights you up and what you would really love to create. You know, that could be a really powerful way to then be able to afford a coach or be able to afford whatever you need to start to create the life you want. If you've got some runway, you know, a lot of guys are getting out and they've got retirement or other sources of income. Start exploring. And it's just start exploring. And get a coach. That's my shameless plug. Yeah, 'cause it is possible. It's absolutely possible to live the life that you want and have an extraordinary life. I'm living proof of that. Personal question, how can you explain the difference or difference in value of one on one coaching versus being in group coaching and group type programs? Yeah. Again, it's kind of choose your own adventure, right? One to one coaching a lot of times can be faster, more impactful. You can go a little bit deeper. Because it is a confidential container with two humans instead of multiple people. The benefit of a group is that you're around other people who are on this kind of journey together, right? And that's really powerful. I mean, I can't stress enough the power of being in a community of folks who are on a similar journey and there to celebrate and support you and lift you up when you need it. And also challenge you. To show up, so my favorite is really a combination of the two. If you can find a group program or at least a community that's focused on this personal growth and betterment, all that. And then also have the opportunity to meet one on one with a coach. That's a really powerful one, two combination. Yeah. Awesome. Well, I do want to give you the last word, Nick. If you're talking to somebody that's on their way, did you have another you talk about your free giveaway, right? Did you have another one? The second one, we'll just drop the link. It's a calendar link to something I call a QRF extraction session. That's for anybody who is like really needs to talk right now. Really about anything. I'm here to support you. Okay. So you put that in the show notes and in the email that goes out. Okay, great. All right. Well, Nick, thanks for sharing your entrepreneur's success story, man. You've been doing this for two years on your own paying the bills. You've become, you've reached the top of the mountain right there as far as not having to have that JOB, so that's awesome. That's right. And we look forward to seeing your future success, so appreciate sharing your story with us and have checked back in. Maybe in a year or so and see how you're doing. Yeah, I love that. Thanks a lot. All right, these two veterans are asking Mike. Thanks for listening to veteran on the move. Your pathfinder to freedom. If you like the show, leave us a review on iTunes. Reviews are always greatly appreciated. So until next time, this veteran is screw Mike.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"And McDaniels made some sort of reference to that. Like he didn't come out and quite say it, but the phrasing that he used led me to believe that. He basically said that he did things the right way in terms of how he's done this and gone about and gone about filling his staff and that there weren't any ruffled feathers with the Patriots. And I also think that, you know, having map attrition having Joe judge available, you know, makes it a little bit easier on Belichick in his mind. Now, whether that ultimately works out for the Patriots and Mac Jones, we'll have to see about that. Yeah, I'm not thrilled about that offensive staff right now. Not thrilled at all. Let's talk about somebody who, you know, might be sneaking under the radar for some people. And that's Nick folk. He's a free agent. And, you know, of course, he's up there in age, but he's been incredibly consistent for the Patriots. What do you think the Patriots do? Again, it's kicker. It's like one of those things that people might toss aside, but when you have a young quarterback, when you have kind of an unknown offensive staff, I think you're going to play a number of close games, which really means the kicker is a critical piece of your team. Do you think they bring folk back? Do you think they bring competition in? What do you think they do with him? I think Nick that they've gotten to a very comfortable place with Nick folk in terms of as far as what they're going to do, how they operate with the contract. Like if you remember, a year ago, and part of this had to do with injury, but for a long time, Nick folk wasn't even on the roster. And I think, I don't even know if he was on the roster to start training camp. And remember, he didn't make the team initially and everybody was just like, wow. You know, Quinn nordine's gonna be the kicker. He's rookie, he was awesome, and I was and I kept telling people, I'm like, Nick folk's gonna be starting kicker. Week one. And that ended up happening. I think Nick really likes it here. I think they basically have an agreement like, look, Nick, we want you back at least for a camp competition with quinine. We don't know whether he's going to be ready or not. But, you know, we really value you. If somebody comes after you and gives you an offer, let us know, give us an opportunity to match or to consider it. And then we'll make a decision, but you know, we're really comfortable with you. We're really happy with you..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"This is the Greg godard patriots podcast with Nick cabins. All right, welcome in. This is the Greg bedard patriots podcast, brightening glass Jean filling in for Nick cattles and of course it's brought to you by bet online AG, the fastest and easiest way to bet all of your favorite sports, Greg, what's going on, thanks so much for having me. Brendan, welcome. Yeah. Excited to have you aboard pinch hitting for Nick, who continues to be in the parent. Apparently, Sacramento is in the Bermuda Triangle now because Nick drove out there and he's in some sort of vortex where, yeah, I don't know, his availability has been a little bit in question this week. What does Belichick say? The best of best ability is availability. Nick had a little rough go looking for houses living out of a hotel, getting his feet wet and new place. So I appreciate you pinch hitting here. Your guy I've heard for a few years. So I wanted to get you on board. And so what have you, I've heard you a lot on sports hub. What else are you doing? What's going on with you? Yeah, I've been kind of all over the place. Sports hub is one of my many stops throughout the course of my media career, but doing some play by play with the main Celtics of the G league, also the Connecticut sana the WNBA. I just work at DraftKings during the week. So we have plenty of, as you know, Greg, very a lot of crossover, you know, DraftKings and sports hub work together. And doing some stuff there as well. So I keep busy. I keep busy. It's good. Busy is good, of course, in these times, especially to. And you know, like you said, I mean, Bill Belichick and tell all of his players to play an early for the weather. I'm not sure you can plan for a vortex in cattle's case, right? Exactly. So hopefully, Nick's good, but here we are, wild card weekend approaching. The Patriots have the nightcap on Saturday and men. This team, considering where they were about a month ago, in Buffalo, it's amazing that we're back in this spot, they're going to be in Buffalo again, frigid weather, some wind will be a factor, but you consider at the time. In position to be the number one seed in the conference, they go now to the 6 seed and now they're on a way on their way to buffalo again where to start crank. Where do you start with this team heading into wildcard weekend? Yeah, you know, Brendan, I'm not sure. I mean, I'll start here. You know, I think the position that this team had, look, they had earned it, okay? They dug themselves a hole. They dug out of it. You know, it doesn't really matter really who they played or what the caliber it was. They had put themselves in good position. They had done that by steadily getting better. They were executing better. Since the biweek, it has been a completely different story. This team, at this point, Brennan to be honest with you, I don't have a whole lot of confidence in this team. From what I saw in this game and putting it together with the colts game and the second bills game, I leave out the possibility that they could get run off the field in Buffalo. And I don't even think buffalo's that much better than them. I mean, they're a little bit more talented, but things being equal, this being like a patriots team..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"This is the Greg the guard patriots podcast with Nick cabins. All right, this is the game, right? At least the first of the two games we circled on the calendar, knowing that if this division was going to be tight, it was going to likely come down to these two games against the bills the first one is going to be this Monday night. Before we get into the details with Greg, just to set this one up, of course, the Patriots 8 and four bills are 7 and four. If you're wondering how buffalo has played at home, there are three and two, those three wins have come against Washington, Houston, and Miami, the two losses, Pittsburgh, and week one, Indianapolis, two weeks ago, and Greg, what is fascinating about this matchup in the big picture is really how close these teams are when you talk about level of competition and where they stand. The bills, they have the weakest strength of schedule in the AFC. They have the second weakest strength of victory in the AFC. If you're wondering Indianapolis has the weakest strength of victory. But then when you look at the Patriots, the Patriots have the third weakest strength of schedule in the AFC and they have the fourth weakest strength of victory in the conference. So both of these teams are seen as in that top tier in the AFC, but you could argue they haven't really been challenged as much as you might think or you could argue that the AFC is just really one big cluster. When you look at this game, Greg, you know, the Patriots, they're looking to take back that sweep from last year. How do you look at this one in the big picture to start off? Well, I think you're very right Nick to bring up sort of the level of competition for both teams. I mean, I think it's pretty similar. To me, that puts me into the camp where I don't really know what to expect from either team. I mean, you can look at all the stats, the advanced analytics are the same way the Patriots and the bills rank very high and offense and defense..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"And it just the idea of the thin secondary. And it's something that you and I talked about before the season. We said this back at draft time. This is not hindsight 2020. This is not Monday morning quarterbacking. At the time we said, that's interesting that they did not draft a young corner because when you looked at the position, you looked at the finances of the position and how the next two or three years looked, it just made sense to draft a young corner. They decided not to, that was their decision and now they're left with not a lot back there. Especially if you're looking for somebody to, you know, back somebody up and provide some depth. I do want to ask you quickly before we move on to what other options they might or might not have in the trade deadline, all that kind of stuff. I was reading some people over the last couple of days. They seem to say, you know, they seem to believe that Joanne Williams and listen. They're not saying that Joe and Williams is going to be like these savior of the secondary. But I have read multiple people saying that Joan Williams played much better on Sunday than he's ever played in at least he didn't look completely lost and he did a pretty good job when the jets targeted him. What do you make of that? Did you think Joan was better? Do you think there's anything there? I mean, again, relatively speaking. Nobody expects this guy to be at number one corner, maybe even a number two. But Greg, did you see at least a little something from Williams on Sunday? A little, but and I haven't gotten through all the defensive films. So I might feel differently when we talk about this on Thursday. Nick and I'm sure we'll spend a lot of Thursday talking about the trade deadline, which will be a week from today. So obviously cornerback will be a focus of that. Look, was he a little bit better? Yeah, I mean, from what I've seen, yes. But I'll say this about you on. We've seen this out of him before Nick. He has played there have been, you know, spots, fits and starts, you know, where he has played better. But then he's been terrible like the next game. There's been no consistency in his game. And I think I think in my opinion, I think that he's more of a matchup guy and I think that's why they drafted him. He's more of a matchup guy. I think the jets were a good matchup for him. With guys like mims and those bigger receivers on the outside. I mean, guys that aren't going to.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"This is the Greg bedard patriots podcast with Nick cabins powered by bet U.S.. Well, that was more like it. That's what we were looking forward to on Sunday. It was a little bit of a change of pace. Of course, Greg beard patriots podcast Nick cattles brought to you by bett U.S. dot com. America's favorite sportsbook for over 25 years. Greg, before we get into the utter domination, the Patriots had on the jets Sunday, let's get into some of this news. And the biggest news of the Patriots, it's obvious, it's Jonathan Jones. He's on the IR. He's not only on the IR Ian rapport, reported yesterday that Jones is done for the season. You're immediate reaction to this news. Yeah, look, it's a tough blow for the Patriots. I mean, they already traded stuff on Gilmore. Now they go with Jonathan Jones, who, you know, I know some fans have a love hate relationship with Jonathan Jones. In my opinion, I don't think they appreciate how hard slot safe slot cornerback is in the NFL. But what makes it different than say boundary cornerback in the NFL is that there's no sideline to help you out. I mean, when you're a boundary corner, you know you have the sideline acts as another teammate basically. And so that's easier. Slack corner is impossible. Every route is a two way go. You don't know whether they're going inside or outside and how are you going to play them? You got to know where your help is. It's an impossible, it's really an impossible position. Nick, and I don't think people I think it's one of the most underrated positions talked about in the NFL. And Jonathan Jones was a damn good slot cornerback. Is a damn good slot cornerback. And to lose him, is a blow. I think it's a big blow. I think you can Nick. I think you could make the argument that you could get by more losing a boundary cornerback than you can a slot cornerback. And so in many ways, this is a bigger blow than say if JC Jackson went out..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"This is the Greg bedard patriots podcast with Nick cabins powered by bet U.S.. All right, so before we get started, I think we'd be remiss if we did not congratulate the Boston Red Sox on getting to the ALCS, both Greg and I are big baseball guys. Congratulations to the Red Sox. Greg, did you think there was any chance this team was gonna make it this deep? Past the Yankees, yes. The rays, I thought it was going to be a long series. I thought it was going to go down to it. But this is a team that before the season I had to dig out my tweet, but I said something, I think it was on opening day. I was like, I think there's I think there's a little something to this team. You know, I was definitely excited about this team. You know, I'm a big Alex core fan. So I think that whatever the patriots, whatever the Red Sox might not have on paper, I think that he can make up for it sort of similar to Belichick. I hold Alice in that sort of level of head coach, you know, I think that what he's done with the Red Sox in a short time two trips World Series title now I think is almost Belichick in. And so I was I was high on them not high, but I was expecting more than a lot of people were. And, you know, look, they stumbled down the stretch in the regular season, but I still thought that they were a good team and I think that I think this is another this series with the rays Nick is another example of Moneyball just doesn't work in the postseason. It works for it's designed by computer nerds over a 162 games. And it works for you, but it's really hard to win, it's really hard to win much in the postseason because it gets shrunken down and the smaller the series, the tougher it is. And I think the numbers go out the window and a guy like Alex Cora and when you pluck players.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"Contract. Well, you know, thought thought he blew a fart, but he really should his pants. He thought wrong. Like if you look at restructuring, Gilmore wasn't going to restructure with the Patriots for whatever reason. So you didn't trade him at the trade deadline last year. You didn't try to trade him during the off season. You said, well, we're going to restructure him or we think we have leverage. So we'll be able to restructure him and keep him this season. And you ended up reading that wrong. And so you end up with a 6th round pick in 2023. For a guy who's a top 5 cornerback in the league when he's healthy. I don't know how anybody can look at that and say, it's a win or that it's, you know, try to explain that away. To me, that's a clear loss for Belichick. You can not allow a guy who is as talented as Gilmore to walk away to get out of your building for a 6th round pick two years from now. To me, that is a mismanagement of the asset. And yeah, I mean, I absolutely agree with you. I mean, we've been talking about it for a long time. We've been talking about on this podcast for a year. We talked about trade lot. Everybody, Nick, this is how blatantly obvious the situation was that the Patriots had to trade stuff on Gilmore. Gilmore put his house in the market. That's him and his agent talking in his agent going like the Patriots aren't idiots. I mean, they know whether they're going to give you a contract extension or not. If they're too, I think there were two and 5 at the deadline. That was after I just want to go back and look. But it was, it was over. I think that was after the bill's loss hang on one second because I wanted so they were two and 5. Yeah, I think the bills lost. I think the trade deadline was right after that. Because November 1st was.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"All right, Greg, let's start with the Stefan Gilmore trade, did you like it? No. I hated it. Yeah, I mean, look, I just, I don't understand it in a variety of ways. The only thing Nick that really explains why bill would make this deal now and take what he did is if he had some suspicion I'm not saying it's factual, but he had some thought that Stefan Gilmore, first of all, let me backtrack and explain things to people. When you are on the physically unable to perform list. And you are in the final year of your contract, like Stephon Gilmore is. You have to get off of pu P or else your contract tolls. So basically, if Stephon Gilmore just says my quad hurts the whole year and the Patriots never activate them, we're right back here next year. He's on the books for $7 million for next season. So Stefan Gilmore has to come off a pup to get his service time. He has to be active. He has to be placed on the active roster. He doesn't actually have to play in a game. He needs to do that because that gives him his service time. That means he's played this year. He'll be a free agent next year. So the only way this deal makes any sense to me, Nick, is that Bill Belichick had some thought some suspicion that Stefan Gilmore because of their contract negotiations would not would not play this year that he would basically get cleared off of, get passed on his physical, and then be placed on the active rotten as soon as he's placed on the active roster. Basically fake an injury. That's the only explanation I have Nick, because it doesn't make any sense. There's no, especially there's a cornerback shortage in the NFL. There's a quarterback shortage on the Patriots. They're now down to JC Jackson, Jonathan Jones and Jalen mills, and that's it. That's basically all they have. There are no cornerbacks and for the Patriots to be like, oh yeah, we can we're gonna trade away a guy who was defensive player of the year two years ago, and it was still a pretty good decent number one cornerback last year. And who knows what he would have come back as this year?.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"Dot com where the game begins. Up to 200% in bonuses, up to 200% in bonuses. That's crazy. BSG is the code again. So you agree with me on the fourth and three at the end of the game, why? 100%. Multiple reasons. Some of which you've laid out. Number one, Tom Brady's on the other sideline. I don't want to hear anything from Belichick truthers about like, well yeah, he hit it off the upright. It was like 6 inches from a win. Like, it doesn't matter. Even if you make the kick there, Brady's coming back and beating your ass. Everybody knows it. It's what he's done for years, Nick. Like, it's not like there was 20 seconds left in the game, or ten seconds, or, you know, that's it. So that's number one. Brady's on the other sideline. With two timeouts. Number two, it's Nick folk. He's like 80. And he has a bad leg. He's been battling an injury all year. You've never trusted him. I'm sure if I had the time to go back and look through all the game books. I'm sure there have been plenty of 50 plus field goals that Bill Belichick has passed up because it's Nick foley, okay? His consecutive kick streaks, none of them were over 50. His longest kick as a patriot is 51 yards and that was desperation to win the jets game, I think. The last time he made a 56 yarder in a game was 2010, that was 11 years ago. And it's raining, it's pouring like you know, what are we doing here? Make focus snoring. Yes. That's number two. Number three, Belichick's reasoning that we two 9 on third down. Is reasoning is complete BS. The patrons didn't have many third downs the whole day. They stayed out of third down. I didn't realize it until I went back and looked at the game book. But do you know how many third downs they had in the second half? Two. They only went to third down twice and one was third and 9, which they failed, and one was third and 12, not the same situation. In the first half, they had third and 17 didn't pick it up. But guess what Nick on their touchdown drive to hunter Henry picked up third and four, third and 5 on a DPI, third and three..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"Four years, he's been rigged. The dog Patriots podcast with Nick cabins. I'm right. So it's time for another edition of the award-winning Greg Bedard Patriots podcast. The cattle's, I don't know what award we've won, but I'm going to roll with it anyway. Greg for this episode this week, we're going to take a look at the AFC East, we might get into a little bit of Cassius Marsh. We'll see with the Buffalo Bills..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"This is the Greg Bedard Patriots podcast with Nick cabins. All right, before we get into the latest news with the Patriots, over the past couple of days, Greg give us an update on your site Boston Sports channel. Com. Yes. So, it's been about actually a week tonight. Just a week..
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"But at some point in time whenever Mac Jones is ready, he is going to be able to operate the full facilities of the Patriots offense, which Cam Newton was never able to do last year, I don't care what was around him. Mac Jones is one of the most advanced. I didn't get a chance to ask Bill. This question in the press conference. I wanted to But Mac Jones is probably the most advanced college quarterback in terms of pre-snap checks reads, all this stuff. All the mental song that goes on at the line of scrimmage I have not seen or heard of a quarterback as advanced at Mac Jones in terms of what his level of experience is. And I think that it's just citing to me. It's probably exciting to Josh McDaniels. It's probably exciting to the Patriots that eventually at some point in time. Mac Jones is going to be able to do a lot of the stuff at the line Shack on. Brady could do. I'm not saying everything. I'm not saying that he is Tom Brady, but just to be able to say, all right, we see this defense, we're going to check out of this, this guy is Advanced Beyond almost all college quarterbacks you. You talk to people around the Alabama program, and they talk about how smart he is. They talk about how he's been teaching the Alabama offense, to Bill, O'Brien wage, Down there, so right? Just in terms of all that, that's a great basis and it's something that the Patriots lacked, whether it was Cam Newton or Jerry students. Did them coming from the Baylor offense home and the Auburn offense, Mac Jones can do everything that the Patriots need to have done at the line of scrimmage and that is a huge key component in this offense and they got a guy who can do that.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"Heard from Robert Kraft yesterday was a man who was completely honest about where the the team is in a lot of different areas. I wouldn't will get into this but I don't think his quarterback comments were Something to really weigh in heavily on but I do think that overall I mean him talking about, you know, the draft specifically the personality just sound thrilled with having to Shell out as much money as he did and he basically admitted that the only reason they had to do that cuz they didn't draft well in recent years and and he committed what a lot of us have said where it's not sustainable to do that. You need the draft to be the lifeblood of your team so that you can do other things like you can't just every three years song ten free agents. It just it it's probably not going to happen be it's not economically feasible. And so I thought it was very refreshing for Robert to to talk to the assemblage yesterday and and really be honest and I think you know in judging from the comments at Boston Sports Journal com from my column off of this press conference wage. Think on a whole I thought the Patriots the Patriots fans reacted very well to it that are really like, okay. Well, at least now we know that the person in charge realizes is a isn't happy about it called last season horrible and B thinks that the team has made correction and is moving in the right direction. That's all anybody ever wanted to to hear from anybody at at one page place and they heard it from Craft and I think it made Patriot Nation breathe a little bit easier. Not that they weren't confident in Bill Belichick rebounding in any event, but I just think it reinforced that. All right. Well, we're still the Patriots thought we had a we had an off-year didn't go well we're going to correct things were going to get things back on track.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"Kraft speaking some truth Greg about the 2020 season and how the team got to this point. Yeah, I thought it was really refreshing Nick. I thought that you know, look the only person I understand how the Patriots are set up and I don't disagree with the way the Patriots are set up that page during the football season bills the one who talks for the football organization and I get it. I don't disagree with it, but it's a little bit problematic when off season is going down the tubes and you're not getting any real answers from the chief executive of the football team like this past season with Belichick. He basically deflected everything off at defensive about any questions. Look he's in charge of the team. I understand pointed comments about say there. Their inability to draft. Well the past couple of years wouldn't exactly reflect. Well on the players, he's currently trying to coach but there is a way to say what everybody wants said without saying it and Bill just decides to do things the quickest way possible the easy way possible. I understand why he does it I'm not going to I'm not criticizing him for it. But it it does cause problems when the team looks like it's floundering off where we going. What is the direction things like that? And no one's answering any questions directly and what I heard from Robert Kraft yesterday was a man who was completely honest about where the the team is in a lot of different areas.
"nick" Discussed on The Nick Taylor Horror Show
"Welcome back to the nick taylor horseshoe. Keith thomas is an american writer and director who made his speech. Direct oriel debut with the vigil from ifc midnight. The vigil tells the story of a young man in emotional recovery after fleeing from his his acidic community who is then called upon to perform an all night vigil over the body of a recently deceased man. in his widow's apartment. Everything is going fine until the young man realizes that the house is the host of a malevolent spirit. The vigil was at great film. I personally love supernatural horror. But it's rare to see ghost movies that build upon day mythology which is what really allowed the vigil. The standout is a very unique entry into supernatural horror that plus it's very poignant. Drama made a really exciting and just fresh film. In addition to vigil. Keith is also directing the remake of the stephen king classic fire-starter under-blown house which is really really awesome. I talked to keith. All about the making of the vigil lessons learned from his directorial debut. Fire starter as well as judik deem analogy all this and so much more on. Today's episode of the nick taylor horror. Show now strapping and enjoy this conversation with keith. Thomas keith has a going good how are you. I'm doing good. Thanks doing really good. So really really enjoyed the vigil. Allot and i feel like there's this whole new abs reading one of the other interviews that you did and somebody mentioned that. There's this whole other kind of conjuring universe potential with jewish mythology and jewish demon. And i was my dad's. Dad was jewish so i had a definitely was part of the part of the upbringing but there are elements in in jude judeo mythology that i was not aware of and it sounds like this movie. You're just scratching the surface. Yeah no no. It's great to be here and for sure. There's a deep rich kind of super ancient sorta side the judaism that most Most of the population. Who are kind of more. I would not necessarily secular but kind of more involved in the secular world i don't know about don't see and kind of in the more insular hasidic community or the ultra-orthodox religious community right. There's a ton of stuff that's kind of. That's there that that very that hasn't really been translated in english or that people just aren't aware of. Wow so how did you get aware of of these elements of.
"nick" Discussed on Greg Bedard Patriots Podcast with Nick Cattles
"The Patriots were I think going into the draft. They wanted the target more often sung up early. And what does Belichick do we spend the first three picks on defense? And I think I asked a question of somebody at the time I said, well is Nick Nick do anything is Nick going to do in that like what is it going to do tackle them like Bill and so I don't I don't know. I think Bill would like another voice. I don't know. I think he maybe he wouldn't acknowledge that off. But I think I think the Patriots definitely need somebody and maybe this this comes into play with say a PO lie or dimitrov or a bob Quinn who she could recycle former Patriots Personnel people who are out of jobs right now that could come in. I mean peole is certainly would be a strong foil to double-check does is he interested in that after running his own juice? As you want to come back and work for Belichick. I don't know but the recycling thing Greg the concern here would be again from anybody who's you know, and you've been critical of the drafts the last few years. Do you want somebody who's looking at things with with 2010 eyes, you know as the game changes and as player evaluations change and what again the issue here seems to be Belichick at the end of the day just having Supreme faith in I know what a good football player is and you've said that before that guy's a football player. I know it because I've done this my whole life. Now the question is whether or not he's wrong more often than he used to be because he's not recognizing how the game has changed or what exactly you need to be successful, you know wage and and and to draft impact players for which they lack if you bring in an old guy who did it the old way. Is there a fear that you're going back to that you're staying in that system instead of moving fog. Wouldn't it be better theoretically to bring in a younger Voice or a newer Voice or someone who can look at things a little bit different way and count counter bill. I I I just don't know that people would be super not satisfied with with with with a recycled version of a person who's been here before or and or been out of the game for a little bit of time. Yeah. I mean I get that but I think that's more of a month that's more of a sort of scheme type of thing. Like do we want to evolve in certain areas, especially on defense where you know, whatever we want to use, you know, let's get back to 3 down guys instead of just, you know role players and things like that and and really it's at the end of the day. I mean, it doesn't really matter who they bring in whether it's Scott P or Thomas dimitroff or Zeigler or Elliot wolf. It doesn't really matter because it's Bill and it's whatever Bill and and the thing is and I think I talked about it with Nick. I did last last podcast dead. Two people want to listen to it. There is enthusiasm within one Patriot Place that Belichick does realize what's going on that he needs to change early Salter wage way and and part of that thinking was changing up some of the voices in the Personnel department. And so as of right now, it seems like things are going in the right direction..