35 Burst results for "Rockstar"
The Crypto Overnighter
A highlight from 667:DOJ vs FTX, Celsiuss FTC Woes, Grayscales SEC Triumph
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Tuesday, September 12th, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving deep into the legal labyrinth engulfing FTS and its founder Sam Bankman -Fried. We'll also explore why the FTC is going after Celsius CEO Alex Mashinsky. If that's not enough legal drama for you, we have updates on the SEC's standoff with Grayscale Investments. On the regulatory side, find out how the FCA is shaking up crypto investments in the U .K., starting with LUNO. And for a change of pace, we'll delve into the chilling tale of how Ethereum co -founder Vitalik Buterin got SIM -swapped. Finally, PayPal is making its own waves in the crypto ocean. Stick around, you won't want to miss this. FTX is embroiled in a complex legal battle with the U .S. Department of Justice. The DOJ has been accused of overreaching by attempting to block all seven of Bankman -Fried's proposed expert third -party witnesses from testifying. The defense argues that this move undermines Bankman -Fried's right to a fair trial. In preparation for the trial set to begin in October, both the defense and the DOJ have proposed questions for prospective jurors. These questions aim to identify any potential biases among the jurors, especially those related to cryptocurrency or the case itself. Bankman -Fried's bail was revoked last month and he's currently in jail. FTX's assets are valued at approximately $7 billion, including the $1 .2 billion in sole tokens and 38 properties in the Bahamas appraised at $199 million. The company also holds $560 million in Bitcoin and $192 million in Ether. FTX filed for bankruptcy last year, and since then, nearly $2 .6 billion in cash has been secured. The company is facing claims worth $65 billion, including a $43 .5 billion claim from the United States Internal Revenue Service. Over 36 ,000 customer claims worth $16 billion have been filed against FTX. The company is also exploring the possibility of resuming business and has contacted 75 potential bidders for this purpose. The DOJ's aggressive stance against FTX and its founder raises questions about the fairness of the legal process. This is especially concerning for the crypto community, which already harbors distrust towards governmental institutions. The attempt to block expert witnesses could be seen as an effort to control the narrative, potentially skewing the trial in favor of the prosecution. The asset portfolio of FTX is another point of interest. With billions in various cryptocurrencies and real estate, the company's financial dealings are under scrutiny. The fact that FTX is considering resuming business adds another layer of complexity to this already intricate case. The sheer volume of claims against FTX is staggering. The .5 $43 billion claims from the IRS alone could have far -reaching implications for the crypto industry. If the IRS's claim is validated, it could set a precedent for how crypto assets are treated by tax authorities. Now if you thought the FTX situation was a labyrinth, wait till you hear about Celsius CEO Alex Mashinsky. The regulatory sharks are circling, folks, which seems to be coming up a lot. Is this the new normal? Keep listening to find out. And hey, if you're liking what you're hearing, don't forget to follow and enable notifications.
The Crypto Overnighter
A highlight from 666:FTXs Multi-Front Legal War and Indias Crypto Tug-of-War
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. 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 a Monday, September 11th, 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 FTX's legal labyrinth involving a staggering 86 million dollars. Then we're shifting gears to India, Coinbase's hasty emails, government policy, and the central bank's digital aspirations. We've also got a bitcoin user who made a half million dollar mistake, a Hong Kong -based project revolutionizing decentralized identities, and the social media platform that's proving the naysayers wrong. Buckle up. Failed cryptocurrency exchange FTX is embroiled in legal battles on multiple fronts. The company filed a lawsuit against Layer Zero Labs to recover 86 million dollars transferred just before declaring bankruptcy. Layer Zero Labs accused FTX of making unsubstantiated claims in the lawsuit. FTX's bankruptcy filings have also revealed substantial payments to celebrities. The list includes nearly 750 ,000 to Shaquille O 'Neal, about 308 ,000 to Naomi Osaka, almost 206 ,000 to Trevor Lawrence, and about 271 ,000 to David Ortiz. These celebrities are now subject to lawsuits by FTX creditors. Layer Zero allegedly exploited FTX's sister company Alameda Research by demanding immediate repayment of a 45 million dollar loan. In exchange, Alameda transferred its entire 4 .92 percent equity stake in Layer Zero. The deal was considered highly favorable for Layer Zero. FTX also seeks to cancel prior agreements and recover 21 .37 million dollars that Layer Zero allegedly withdrew illegally. The company is exploring options to claw back funds paid to celebrities and sports teams to settle its debts. Now from my point of view, FTX's legal entanglements are a glaring example of the risks and volatility in the crypto space. The company's aggressive marketing strategy involving high -profile celebrities backfired spectacularly. It's a warning for investors and a point of concern for regulators. Layer Zero's alleged exploitation of Alameda Research's financial distress raises ethical questions. It also highlights the lack of oversight and the need for stringent regulations in the crypto industry. FTX's attempt to recover assets and cancel prior agreements could set a precedent for how companies in financial distress handle their obligations. It's a complex web of legal and financial maneuvers that could have far -reaching consequences. The unfolding drama reminds us of the dangers and rapid expansion without adequate risk management. It's the lesson for other crypto companies and a wake -up call for the industry at large. Lawsuits and bankruptcy are one thing but what happens when a crypto exchange throws a curveball to a whole country? Before we unravel this don't forget to hit that subscribe button to stay updated. Coinbase recently sent emails to some of its Indian users stating it would discontinue services for them after September 25th. The email urged users to withdraw their funds from the platform. The email was not sent to all Indian users but only to those who were found to be in violation of Coinbase's updated standards. This led to confusion and panic among Indian traders who took to social media to express their concerns. Coinbase clarified that the email was part of a routine review and was sent to users who no longer met their updated standards. The exchange also stated that this move does not affect users access to Coinbase cloud services. Coinbase entered the Indian market last year but faced several challenges including regulatory issues and the suspension of UPI support on the platform. The company also stopped onboarding new users from India earlier this year. Coinbase's actions come at a time when India is hosting the G20 summit where global cryptocurrency regulation is being discussed. The Indian government is also evaluating recommendations for regulating crypto assets. Despite these developments Coinbase remains committed to the Indian market and continues to offer its wallet services. The timing of this event and the ongoing G20 summit in India cannot be ignored. Is Coinbase feeling the heat from global regulatory discussions or is this a strategic move to tighten its user base and comply with evolving regulations? Either way the incident has sown seeds of distrust. Coinbase's selective email to certain Indian users also raises questions about transparency. What are these updated standards and why were only specific users targeted? It's a murky situation. Moreover the Indian government's stance on cryptocurrency is still unclear adding another layer of complexity to Coinbase's operations in the country. With the G20 summit discussing global crypto regulations Coinbase's actions might be a preemptive measure to avoid future complications. While Coinbase remains operational in India the incident calls out the vulnerabilities and uncertainties that come with centralized systems. Coinbase's recent actions in India have clearly caused a stir highlighting the tensions between centralized crypto platforms and regulatory ambiguity. But as we pivot from this snapshot of crypto's current standing in India let's widen the lens. Now we were just talking about the G20. It's not just the exchanges that are at a crossroads here. The Indian government itself is on the brink of setting the course for crypto's future and their decisions won't just affect the subcontinent. They're positioned to influence the global crypto landscape via their presidency of the G20. So from the individual worries of Coinbase users to the collective anxiety of the global crypto community we see that the issues are deeply interconnected. Both are waiting for India's next move which could either enhance financial freedom or tighten the government's grip. So here's what's going on more broadly speaking. India's finance ministry is set to decide its stance on crypto in the coming months. The country has been under scrutiny for harsh crypto regulations including taxes and anti -money laundering rules. However there is a shift towards possibly framing its own legislation, a first since early 2022. India is also working on a five -point crypto legislative framework. This includes advanced KYC for crypto companies, real -time proof of reserve audits, a uniform taxation policy, and possible authorized dealer status for crypto platforms under the Reserve Bank of India's guidelines.
The Crypto Overnighter
A highlight from 665:X Scams Unleashed, SECs Crypto Showdown, and G20s Global Framework
"Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240mg of caffeine to fuel what's next. Rockstar Energy Drink Good evening, and welcome to the Crypto Overnight -er. I'm Nickademus, and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific on Sunday, September 10th, 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 murky waters of cybersecurity, starting with Vitalik Buterin's compromised X account that led to a major heist. As scams proliferate on X, formerly Twitter, are verified accounts losing their sheen. Then we switch gears to Capitol Hill, where Congressman Tom Emmer is looking to put a leash on the SEC's crypto crackdown. And on the global stage, the G20 summit strikes a chord for crypto regulations. Also on deck, Coinbase's strategy to dodge US regulatory hurdles, a bittersweet tale of Bitcoin mining in Texas, and JP Morgan Chase's new venture into blockchain -based deposit tokens. Strap in and let's go. Vitalik Buterin recently had his X account compromised. The hackers posted a fraudulent link that led to a phishing site, swindling nearly $700 ,000 from unsuspecting followers. And as usual, the scammers appealed to someone's greed. The post offered free NFTs to celebrate Ethereum's proto -dank sharding. The scam resulted in significant losses, including valuable NFTs like CryptoPunks. The total amount drained from victims' wallets exceeds $691 ,000. Some reports even suggest the loss could be as high as $800 ,000. The first publicly claimed punk NFT was also reportedly lost in the scam. The fraudulent post has since been deleted, and efforts are underway to restore the account. This incident is not just a one -off event. It's a glaring symptom of a larger issue plaguing the crypto community. And frankly, this is the kind of crap that will drive retail investors away. Phishing scams are on the rise, and even the most tech -savvy among us aren't immune. The fact that Buterin could fall victim to such a scam is alarming. It raises questions about the security measures in place on platforms like X. The hackers didn't just compromise any ol' account. They targeted a highly influential one. This was a calculated move, aimed to exploit the trust that followers place in verified accounts. It's a wake -up call for all of us, really. If you're thinking, it won't happen to me, well, think again. The hackers are getting smarter, and we need to stay a step ahead. I consider two -factor authentication to be a necessity. The incident also serves as a warning to the crypto community. Let's not forget that the decentralized world has its pitfalls, too. This same technology that empowers us can also be used against us. So let's not just focus on the financial loss here. Let's talk about the loss of trust, the most valuable currency in a decentralized world. In a twist of irony, the platform that was supposed to usher in a new era of trust has become a playground for deception. You see, scams don't discriminate. Whether it's a pioneer like Vitalik Buterin or an established trust like Grayscale, all are potential targets. The shift from Twitter to X brought with it a wave of challenges, including the degradation of the verified blue checkmark. The new system not only failed to stave off scams, but seems to have invited them in greater numbers. With this environment, the question isn't if you'll be targeted, but when. So as we shift gears, let's talk about a new scam that emerged on X. I just mentioned Grayscale a little bit ago. Here's what I was talking about. This scam involves a purported $25 million crypto giveaway. The scam is related to the Grayscale Bitcoin Trust, a $13 billion trust that recently won a court case. And that's an important point because scammers usually target companies and names that have been in the news lately. This scam claims that $25 million of a new token, also called GBTC, will be given away. The account promoting this, at Grayscale underscore FND, is not affiliated with the real Grayscale company. Before Musk bought Twitter and renamed it X, a blue checkmark verified an account. Now it only means the account owner pays $8 a month. This has led to a rise in scams from blue checked accounts. The real Grayscale account on X has a gold checkmark, so keep that in mind. In another development, XRP -related scams have also increased on X. Despite Musk's claims of eradicating 90 % of scams, users argue that fraudulent activity has hardly diminished. Ripple, the company behind XRP, has been a prime target for scammers, especially due to its recent legal victories. Remember what I was saying about companies in the news? The recent scams on X, especially those involving Grayscale and XRP, are a glaring example of the platform's failure to secure its user base. Musk's acquisition of Twitter and its rebranding to X was supposed to usher in a new era of social media. Yet it seems to have only exacerbated the problem of scams, particularly in the crypto space. The blue checkmark, once a symbol of verification, has now become a tool for scammers. This is a significant issue, especially for a platform that has a large number of crypto accounts. The gold checkmark for official accounts is not enough. It's a band -aid on a gaping wound. As for XRP, the scams are a symptom of a larger issue. Ripple's legal victories have made it a target for bad actors looking to exploit the hype. The platform's inability to control this is a problem for Musk, who claimed to have made dramatic improvements in scam detection. In both cases, the scams are not just a threat to individual investors, but to the crypto community as a whole. They undermine the trust and credibility that are crucial for the mass adoption of cryptocurrencies. If platforms like X can't get their act together, they risk becoming a breeding ground for scams, further alienating an already skeptical public. If you're thinking the problem of scams is limited to individual platforms like X, you're missing the bigger picture. Even our representatives on Capitol Hill are grappling with the complexities of crypto, albeit from a different angle. Stick around. This next segment could signify a tectonic shift in how crypto is governed. And hey, if you find value in what we're doing here, don't forget to like and subscribe.
The Crypto Overnighter
A highlight from 661:SBFs Trial, Grayscales ETF, & Indias G20 Silence
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. 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 Wednesday, September 6th, 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've got something of a loaded show for you. First off, find out what's going on with Sam Bankman -Fried and what he thinks of his air -gapped laptop in prison. And then it's the SEC running out of excuses? We'll also talk about MetaMask's new feature that lets you sell Ether for fiat. Is this a game changer or another scam magnet? Coinbase makes a move in the lending space, but this time targeting the institutional investors. What's their game plan? India's G20 presidency comes under scrutiny for its lack of action on crypto governance. And finally, a Russian lawmaker drops a bombshell about the future of traditional banks in the age of CDBCs. Hold on to your assets, it's going to be a wild ride. Sam Bankman -Fried is currently confined at the Metropolitan Detention Center. He's preparing for his trial, which is set for early October. The charges against him are serious. Wire fraud and conspiracy to commit securities and commodities fraud. The US Department of Justice has provided him with an air -gapped laptop in the legal visiting room. The laptop is available from 8am to 7pm on weekdays and 8am to 3 .30pm on weekends. His legal team argues that the current setup doesn't provide him with a meaningful opportunity to prepare for his trial. They've requested his temporary release, stating that the government hasn't designed a workable plan. Putting on my thinking cap here, it seems that the DOJ provided SPF with what they consider sufficient resources for his defense. Now, the term sufficient is crucial. The government has made an effort to ensure that SPF has the tools that he needs to prepare for his trial. The limitations on laptop availability and the hours are standard for a detention facility, so he's not getting anything special and he's not being singled out with their denials. Furthermore, the defense's claim that SPF is the only one with complete knowledge of the case is something of a double -edged sword, isn't it? If he's the only one with complete knowledge, that could imply a level of culpability. Why would one man have all the information unless he had a significant role in the alleged crimes? The defense's request for temporary release seems more like a strategy to gain public sympathy rather than a legal necessity. The DOJ provided what any reasonable person would consider adequate resources for trial preparation. The government's plan may not be perfect, but it's far from unfair. The legal team's complaints could be seen as an attempt to manipulate public opinion and distract from the serious charges he faces. So, as the case progresses, one has to wonder, is the defense playing the victim card or do they have a legitimate grievance? Given the serious nature of these charges, it's crucial to consider whether SPF is trying to evade justice by casting himself as the underdog. Now, while SPF wrestles with the DOJ over laptops, Grayscale is wrestling with the SEC, but over something that could change the game for all of us. Hit that subscribe button if you want to stay ahead of these regulatory twists.
The Crypto Overnighter
A highlight from 657:Ethereum Caps Stakes, SEC Faces Judicial Pushback
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Saturday, September 2nd, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we delve into Ethereum's self -imposed staking limits aimed at preserving decentralization. We also unpack the SEC's legal quagmire as judges question their regulatory tactics. Next we explore the Expanding Bricks Alliance as they challenge Western financial control. We then turn our attention to India's Yes Bank, taking a significant step in CDBC integration. Finally, we look at Genesis Global Capital embroiled in a ballot scandal that raises questions about the integrity of crypto financial systems. Five major Ethereum staking providers agreed to a self -imposed limit of owning no more than 22 % of the Ethereum staking market. The providers are Rocketpool, Stakewise, Stator Labs, Diva Staking, and Puffer Finance. This move aims to preserve the decentralization of the Ethereum network. Ethereum core developer Superfizz proposed this idea in May of 2022. The 22 % figure is significant because Ethereum requires a consensus of 66 % of validators for network finality. This ensures that at least four major entities must agree for the chain to finalize. Lido Finance, a dominant player with 32 .4 % of all staked Ethereum, has rejected this self -limitation. Coinbase and Binance hold 8 .7 % and 4 .52 % of the staking market respectively. The self -imposed 22 % limit is a bold move in the crypto world, a space often driven by financial gains. It's a testament to the Ethereum community's commitment to decentralization. Superfizz and the participating staking providers are setting a precedent, prioritizing network health over individual profit. This is a significant step, especially when we consider the looming threat of centralization from entities like Lido Finance. However, it's worth noting that Lido's refusal to join the pact raises questions about the effectiveness of this self -imposed limit. With 32 .4 % of staked Ether, Lido could single -handedly tip the scales toward centralization. Their refusal to self -limit is a glaring red flag for anyone concerned about decentralizing Ethereum. It's almost as if they were saying, we don't need to play by the community's rules, we'll make our own. The community's mixed reactions also reveal an underlying skepticism. Critics argue that providers like Rocketpool and Stakewise are only committing to the 22 % limit because they're nowhere near that market share. It's easy to appear virtuous when you're not the one wielding power. The situation brings us to a crucial point. Verbal commitments are not legally binding. What's stopping these providers from reneging on their promise if they ever reach Lido's level of market dominance? The Ethereum community needs more than just words, it needs enforceable mechanisms to ensure that 22 % limit is adhered to. While the self -limit is a step in the right direction, it's not a foolproof solution. It's a band -aid on a wound that requires stitches. The Ethereum community must remain vigilant and perhaps consider protocol -level sanctions against entities that threaten the decentralized ethos. So Ethereum's staking providers are setting their own rules. But what happens when the SEC doesn't play by anyone's rules? Federal judges are asking just that. Buckle up, because we're steering through legal mazes next.
The Crypto Overnighter
A highlight from 656:SECs ETF Holdup, UK Travel Rule & Chainlinks SWIFT Move
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Friday, September 1st, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving into the SEC's latest move to freeze Bitcoin ETF plans. We'll also explore the legal quagmire that the FTX founder Sam Bankman -Fried finds himself in. What's going on with Patrick Kennedy's entry into the SEC Coinbase lawsuit? And we're not done there, because the UK's newly implemented crypto travel rule has ruffled some feathers, and you should know why. China's courts seem to be defying the government's crypto ban, or are they? And finally, SWIFT has something up its sleeve with Chainlink. Buckle up, we've got a packed show tonight. But before you get started, if you find our in -depth analysis valuable, don't forget to hit that subscribe button and ring the notification bell. Gensler's team really has had a rough few days of it, right? First they partially lost the Ripple XRP decision. Then they got knocked back on their heels with the Grayscale decision. Then they took a beating in the Uniswap case. Not only was that case tossed out, the judge said Ethereum isn't a security. So Team SEC has had a rough time of it. I can't blame them if they need to take a minute to think things over a little bit. So it's no great surprise that the Securities Exchange Commission delayed decisions on multiple Bitcoin ETF applications. This includes Wisdom Tree, BlackRock, Fidelity, VanEck, and Bitwise. The SEC now has 45 more days to make a decision. That means this could extend to March 2024 for some. We were just talking about the judge's decision in the case with Grayscale. The SEC had approved Bitcoin futures ETFs, but not spot ETFs. The court found this unreasonable and inadequate. The SEC's hesitation could also be seen as a sign of the regulatory body's cautious approach to crypto. This is not surprising. The SEC's been wary of the crypto market, often citing investor protection as a concern. But what's the real story here? It's the SEC's inability to keep up with the pace of innovation. While they're dragging their feet, other countries are moving ahead. In Europe, for example, Wisdom Tree has successfully launched similar products. So it's not like they don't know what they're doing. The SEC's delays have real -world impacts. Bitcoin's price has been in a downward trend, and these delays are not helping. Investors are left in a state of uncertainty, which is never good for market stability. And let's not forget, the SEC is still facing lawsuits, including one from Coinbase, which we'll get to in a bit. That's relevant because Coinbase is the platform chosen by BlackRock and the others for market surveillance. So, what's the takeaway here? The SEC's indecision is more than just a minor inconvenience. It's a stumbling block for the entire crypto ecosystem. It hampers innovation and leaves the U .S. lagging behind in the global crypto race. And for a market that thrives on speed and innovation, these delays are costing us more than time. They're costing us opportunities. Stuck in regulatory limbo, aren't we? But while the SEC stalls, Sam Bankman -Fried gears up for a legal battle that's more than just courtroom drama. Stick around, you're not going to want to miss this.
The Crypto Overnighter
A highlight from 655:Judge Sez ETH Not a Security, Uniswap Wins, Binances Strategies
"Rockstar Energy Punched. Bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, corona extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. Good evening and welcome to The Crypto Overnight -er. I'm Nicodemus 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 Thursday, August 31st, 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 a pivotal court ruling that could shape the future of DeFi. GOP candidate Vivek Ramaswamy shares his crypto vision and grayscale scores a legal victory. Binance pivots with both a stablecoin swap and ambitious plans in Japan. EOS breaks through regulatory barriers, also in Japan. Coinbase CEO Brian Armstrong lays out a roadmap for crypto's future. And finally, Robinhood is making moves that could reshape its position in the crypto landscape. A US district court judge in New York dismissed a class action lawsuit against Uniswap Labs. Now, just as a point of interest, the judge has won Katherine Polk Fela, Judge Fela is also overseeing the SEC's case against Coinbase. So this may portend of things to come. Six crypto investors filed the lawsuit. They claimed that they were scammed on Uniswap between December 2020 and March 2022. The plaintiffs argued that Uniswap Labs controlled its liquidity pools. They said this included pools created by scammers. The lawsuit sought to rescind smart contracts and demanded compensation. And here it comes, folks, possibly the most important part. Judge Fela termed Bitcoin and Ethereum as crypto commodities. She was not convinced Uniswap's token sales fell under federal securities laws. This is a pivotal moment, not just for Uniswap, but for the crypto space at large. The judge's decision to dismiss the case against Uniswap is a win for decentralized finance. It sets a precedent that could shield DeFi protocols from similar lawsuits in the future. The judge's comments show a deep understanding of DeFi technology. She stated that concerns about crypto regulation are better addressed to Congress than to the court. This is a clear signal to lawmakers who have been slow to provide regulatory clarity over digital assets. The judge's ruling also comes at a time when the Securities Exchange Commission and the Commodity Futures Trading Commission are at odds over crypto regulation. The SEC's chair, Gary Gensler, claimed that everything apart from Bitcoin is a security. On the other hand, the CFTC claimed that Ethereum and other cryptocurrencies are commodities. This case could serve as a reference point in future regulatory debates. While Judge Phela's ruling on Uniswap is a beacon of hope, the regulatory landscape isn't all roses. GOP candidate Vivek Ramaswamy has some choice words for the SEC. Stick around, you won't want to miss this. And don't forget to subscribe for the latest updates.
The Crypto Overnighter
A highlight from 654:Grayscale Defeats SEC, X Gets Licensed and Tethers New Partner
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Wednesday, August 30th, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight, a game of legal chess unfolds as Grayscale squares off against the SEC. Speaking of the SEC, they're also setting their sights on Binance with a sealed motion that could be a ticking time bomb. And don't miss the latest on Sam Begman Fried's ongoing legal battle. His prison tech is making headlines. Plus, X's new crypto license in Rhode Island could be a game changer for mainstream adoption, but at what cost? Tether is seeking solace in offshore banking, but can this strategy keep them afloat? And finally, SEBA Bank crosses a new milestone in Hong Kong, but will this move dilute the essence of decentralized finance? Strap in for an in -depth analysis. We're diving into the legal and regulatory labyrinth of the crypto universe. Grayscale Investments won a legal battle against the SEC. The U .S. Court of Appeals for the District of Columbia Circuit ruled the SEC's rejection of Grayscale's proposal to convert its bitcoin trust into a spot bitcoin ETF was, quote, arbitrary and capricious. The court ordered the SEC to review its decision. And keep in mind, that's all this means. It doesn't mean Grayscale's going to be allowed to convert the trust to a spot bitcoin ETF. It doesn't mean that anybody is getting a spot bitcoin ETF. It just means that the SEC has been told to reconsider their decision, keeping in mind the guidance from the court. So the SEC now has several options. Appeal the decision, grant Grayscale's application, or come up with new objections. Grayscale applied to list its ETF on the New York Stock Exchange Acura in October 2021. The SEC had denied the application, citing that the proposed ETF was not designed to prevent fraudulent and manipulative acts. That's despite the fact that the SEC had approved two bitcoin futures ETFs, but rejected Grayscale's proposal. The court criticized the SEC for failing to explain why it offered two different treatments for similar products. Bitcoin's price spiked 5 .4 % following the news. The SEC has the next 45 days to request a hearing. If not, a final mandate will be issued detailing what happens next. The SEC has not yet approved a spot bitcoin ETF. They've always cited concerns over fraud and manipulation. This is a monumental moment, not just for Grayscale, but for the entire crypto industry. The court's ruling exposes the SEC's inconsistent approach towards crypto -based financial products. It's a win for those who have long advocated for more accessible bitcoin investment options. The SEC's arbitrary decision -making process has been laid bare, and they'll have to go back to the drawing board. But the SEC's troubles don't end with Grayscale. Their inconsistency in arbitrary decision -making are catching up to them in more ways than one, impacting not just corporate stakeholders, but also the political landscape. Enter Gary Gensler, the SEC chair who's now finding himself in the hot seat. Gary Gensler is facing mounting pressure. Ripple's CEO and CLL have criticized the SEC for its legal setbacks. Congressman Warren Davidson has called for Gensler's removal. Davidson even filed legislation to restructure the SEC. In addition, the SEC's aggressive stance towards crypto companies, including Coinbase and Binance, has been noted. We'll be talking about the SEC and Binance here in a bit. The SEC is in a tight spot, and Gensler's leadership is under intense scrutiny. The recent court rulings are not just legal setbacks, they're a blow to the SEC's credibility. The agency's inconsistent treatment of similar products, like the ETFs based on Bitcoin futures and Spot Bitcoin, has been called out. This isn't just a legal issue, it's a matter of public trust. Congressman Davidson's call to fire Gensler is not a lone voice, it's part of a growing chorus that questions the SEC's role and its approach to crypto regulation. The hashtag FireGaryGensler is more than just a trending topic, it's a public sentiment. And it's not just about one man, it's about an agency seen as stifling innovation in the crypto space. The SEC is at a pivotal moment, both their internal decisions and public perceptions are at stake. Whether it's their ruling on XRP or Grayscale or their growing discontent from within Congress, the SEC's got some hard choices to make, and fast. The SEC's at a crossroads. Its decisions in the coming weeks will not only determine its relationship with the crypto industry, but also its standing as a regulatory body. The agency needs to decide if it will be the enabler of innovation or a roadblock. And for Gary Gensler, the clock is ticking. SEC might have lost to Grayscale, but they're not backing down. In fact, their next target might be even bigger. If you're following Binance, you're going to want to hear this.
The Crypto Overnighter
A highlight from 653:SEC Targets NFTs, GOPs Fed Showdown & Argentinas BTC Adoption Race
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, corona extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight -er. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Tuesday, August 29th, 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 delve into the SEC's latest crackdown on NFTs, what it means for the future of non -fungible tokens. We'll also examine the legal quagmire that Stan Bankman Fried finds himself entangled in. On the political front, the GOP is locking horns with the Federal Reserve over crypto regulations. We'll unpack that. Minances navigating a complex regulatory landscape across nations will break down their latest maneuvers. Then, we'll discuss Digital Currency Group's big Genesis deal and what that means for the broader crypto ecosystem. And finally, we'll contrast Bitcoin adoption in El Salvador and Argentina. Two countries, two different stories. Buckle up. We've got a packed show tonight. The Securities Exchange Commission made a landmark move. Impact Theory is a LA -based media company. The SEC has charged Impact Theory with some serious offenses. The company raised about $30 million. How? By offering NFTs. The non -fungible tokens were divided into three tiers and given fancy names like legendary, heroic, and relentless. Impact Theory told buyers that owning these NFTs was akin to investing in the company. If the company hit it big, so would the NFT holders. The SEC wasn't buying it. They said these NFTs are actually investment contracts. That makes them securities under the law, and securities have to be registered. Impact Theory hadn't done that, so they were in violation of federal laws. The company didn't fight the SEC's charges. Instead, they agreed to a cease and desist order. They'll be paying a hefty sum, too. Over $6 .1 million in penalties and other charges. To make things right with the buyers, a fair fund will be set up. This fund will repay the affected investors. Also, the founders' keys to NFTs that Impact Theory controls will be nullified. Now, what's critical to understand is the broader picture this paints. This isn't just a one -off penalty. By its very nature, it's a precedent. The SEC's actions against Impact Theory signal a more aggressive stance regarding the NFT market. Antonia Apps, who's in charge of the SEC's New York office, was clear. Any offering of securities has to be registered. No exceptions. Either way, this case is a wake -up call for the NFT world. There are many other projects out there offering NFTs as a form of a company share. This could make them the SEC's next targets. This case sets a precedent. It's likely the first of many actions against NFT projects. But not everyone at the SEC is singing the same tune. Commissioners Hester Pierce and Mark Yayeda have publicly disagreed with this action. They question the SEC's application of the Howey analysis to NFTs, suggesting the commission may be jumping the gun. Moreover, it's important to consider the ripple effect of this case on the broader crypto landscape. The SEC's move has triggered responses from the crypto community. Many are concerned that it could stifle innovation in the NFT space, adding another layer of uncertainty to an already turbulent market. The SEC's actions could be a double -edged sword. On the one hand, it aims to protect investors. On the other, it could hamper the growth of a nascent industry. The crypto community is alarmed. They see this as an overreach by the SEC. It could deter creators from launching new NFT projects. The lack of clear rules adds to the confusion, leaving the community in a state of uncertainty. In the end, the SEC's actions against impact theory is a pivotal event. It ignited a debate that's far from over. The dissent by Commissioners Pierce and Ayeda also fuels this debate. It questions the SEC's readiness to regulate the complex world of NFTs. The SEC's actions and subsequent dissent among its own ranks reveal that we are in the early stages of defining what NFTs are in the eyes of the law. This is a story that's still unfolding, and one that could have far -reaching consequences for the crypto world, for better or worse. If you think the SEC is only zooming in on NFTs, think again. Let's pivot to another legal maze. Sam Bankman -Fried is in hot water, so don't forget to hit that follow button to stay updated on these unfolding dramas.
The Crypto Overnighter
A highlight from 648:UKs Crypto Clampdown, FTXs Galaxy Bid, and Binances Card Ceasefire
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. 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 p .m pacific on Thursday, August 24th, 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 the UK tightens its grip on crypto, ensuring a safer transaction environment. FTX partners with Galaxy in a bid to save its sinking ship, while in Israel a massive crypto deception comes to light. Bitstamp retracts its Ethereum staking services for US users, a former police officer finds himself in hot water with the SEC, and Binance decides to swipe its card for the last time in Latin America and in the Middle East. Stay tuned as we delve deep into these stories. The UK is undergoing a significant regulatory shift concerning crypto assets. The Financial Conduct Authority emphasized the importance of stopping cryptocurrency misuse for money laundering and other illicit activities. To this end, the FCA implemented stringent requirements for companies operating within the crypto space. One of the primary regulations is the enforcement of the travel rule. This rule mandates the sharing of detailed information about both parties involved in a crypto transaction. The FCA has set a deadline for compliance with the travel rule, which is September 1st, 2023. From this date, UK crypto firms must collect, verify, and share information about crypto asset transfers. This move aims to curb the high levels of illegal activities associated with cryptocurrency. The FCA expects crypto firms to take all necessary steps to ensure compliance with the travel rule, even when transactions involve third -party suppliers. Furthermore, the UK government confirmed that high street banks must ensure customers can access cash within three miles of their local communities. This decision comes after the closure of numerous local branches and increasing shift towards digital payment methods. The government's objective is to protect vulnerable groups and elderly customers by maintaining current levels of cash access across the UK. The travel rule, initially designed for traditional financial institutions, was extended to include virtual asset service providers in 2019 by the Financial Action Task Force. This extension aimed to fill regulatory gaps in the rapidly evolving cryptocurrency domain and to enhance transaction transparency involving virtual assets. The primary goal of the travel rule is to reduce the risk of money laundering and terrorist financing. It requires VASPs to share customer information during cryptocurrency transfers, allowing authorities to identify potentially suspicious transactions more effectively. The UK's decision to align with this international standard showcases its journey towards travel rule compliance began with the legislation passed in 2022. The UK is positioning itself among a select few countries that have proactively extended the rule to cover cryptocurrency transactions. The upcoming implementation on September 1st represents a pivotal moment for the UK's cryptocurrency industry. However, despite proactive measures, global adherence to the travel rule has faced challenges. As of June, less than half of the countries surveyed by the Financial Action Task Force had taken steps towards implementing the rule. The UK's regulatory evolution does not end with the travel rule. Crypto asset businesses are also preparing for the enforcement of new Financial Conduct Authority marketing standards in October. These initiatives collectively signify the UK's dedication to comprehensive oversight of its cryptocurrency sector, enhancing investor protection and market integrity. Shifting gears from the UK's regulatory arena, let's dive into the dramatic world of crypto exchanges. FTX, once a titan, now seeks rescue. Let's see what's in store for them.
The Crypto Overnighter
A highlight from 646:SEC, Terraform Labs, and Huobis TradingView Tie-Up
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Sunday, August 20th, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, and we're going to talk about that. First, however, I need to remind you that this is the last show for a couple of days. My wife and I are going out of town for our anniversary, so I'll be off the air until Thursday. But that's for later. For tonight, the SEC turns up the heat on Terraform Labs, unveiling undisclosed wallets and a deeper probe. Sam Beckman Fried faces a challenging legal environment and is asking for weekend jail. Uzbekistan bridges the gap between traditional and decentralized finance with a new crypto card. Finance's internal bridge hacked from last year resurfaces as the exploited funds face liquidation. New Zealand offers a cautious approach to crypto, emphasizing observation and patience. And finally, Huobi pairs up with TradingView, aiming to provide a seamless trading experience. The U .S. Securities Exchange Commission is intensifying its probe into Terraform Labs, the company behind the Terra blockchain and TerraUSD stablecoin. The SEC's investigation has revealed allegations of crypto market manipulation and fraudulent transactions linked to Terraform Labs. The regulatory body has now gained approval from U .S. District Judge Jed Rakoff to collaborate with the South Korean government. This collaboration aims to delve deeper into Terraform Labs' operations and interrogate Daniel Shin, co -founder of Terraform Labs. The SEC's interest in this case has grown due to the discovery of undisclosed wallets tied to Terraform Labs and its founder, Dou Kwan. These wallets, holding over $160 million in digital assets, contradict the Loma Foundation Guard's previous claims. The LFG had stated they held only 313 Bitcoin in reserve, a crucial asset used to maintain the dollar peg of TerraUSD. The collapse of USD and Luna in May 2022 resulted in a staggering loss of approximately $40 billion in value. In addition to all this, Kwan faced detention in Montenegro for four months. This arrest was due to charges related to the use of forged documents. Prior to this, the SEC had accused Kwan and Terraform Labs of orchestrating a multi -billion dollar fraud in February. The SEC's allegations against Terraform Labs and its founders have raised eyebrows in the crypto community. The discovery of undisclosed wallets and the subsequent revelations have cast a shadow over Terraform Labs' operations. The regulatory body's collaboration with the South Korean government further emphasizes the gravity of the situation. Another story that has left the crypto world abuzz, the founder of FTX is facing a trying time with the law. Let's dive into Sam Bankman Fried's current predicament.
The Crypto Overnighter
A highlight from 645:SEC Targets Ripple, Binance-Checkout Split, Cuban vs OpenSea
"To those who visit Mickey D's for their favorite breakfast item and then go somewhere else for coffee, give this Mickey D's brew a second chance. The glow up was real. Try any size iced coffee brewed with 100 % Arabica beans for just 99 cents until 11 a .m. and pair it with a savory Sausage McMuffin with Egg for $2 .79. Prices and participation may vary, cannot be combined with any other offer. Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. 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 p .m. Pacific on Saturday, August 19th, 2023. Welcome back to the Crypto Overnighter where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so we're going to talk about that. First, however, a reminder that there will be no new episodes on Monday, Tuesday, or Wednesday of next week. We're going out of town for our anniversary, so I won't be putting out content from the 21st to the 23rd of August. So after tomorrow, I'll be gone and I won't be back until Thursday. As for tonight, we'll delve into the SEC's relentless pursuit against Ripple and what this means for the broader crypto industry. We'll uncover the rift between Binance and Checkout .com, exploring the challenges of navigating the regulatory terrain in the crypto space. Exactly Protocol faces a substantial breach, shining a light on the vulnerabilities in the DeFi sector. Ethereum gears up to unveil its innovative HolSky testnet, another leap towards continuous improvement. Mark Cuban takes on OpenSea in a showdown over NFT royalties, and we'll wrap things up with Taiwan's refreshing approach to fostering growth in the crypto sector. The U .S. Securities Exchange Commission has taken another step in its ongoing legal battle against Ripple Labs. On Thursday, Judge Annalisa Torres of the U .S. District Court for the Southern District of New York allowed the SEC to present its argument for an appeal for her earlier ruling. On Friday, the SEC requested permission to appeal the judge's ruling that XRP sales through exchanges did not breach securities law. The SEC's appeal specifically targets the judge's decision that Ripple's programmatic sales of XRP were not in violation of securities law. This is because retail investors buying XRP on an exchange would not have the same expectations as an institutional investor purchasing directly from Ripple. The SEC's appeal emphasizes the legal determinations about the existence of investment contracts based on undisputed facts. The outcome of this appeal could influence other SEC cases. Notably, it suits against Coinbase and DragonChain. The SEC's focus is on the sales of XRP, not the asset itself. They clarified that they do not argue that the underlying assets of those investment contracts were securities. Ripple has until September 1, 2023, to respond to SEC's motion. If the SEC does get approval for the interlocutory appeal from Judge Torres, they will then need to petition the Second District Court of Appeals to review the case. The SEC's move to appeal has broader implications for the crypto industry. The way the court handles the Ripple case could significantly affect other pending litigations, especially those between the SEC and major crypto trading platforms like Binance and Coinbase. The SEC believes that an immediate appeal is necessary due to the controlling questions of law involved and the substantial grounds for differing opinions on these matters. Interestingly, the SEC has officially admitted that digital assets, including XRP, are not inherently securities. This admission is significant and has sparked reactions from the crypto community. Attorney John Deaton highlighted that the SEC's concession on this issue may have been influenced by over 75 ,000 XRP holders who joined the lawsuit. The ongoing legal tussle between Ripple and the SEC began in 2020 when the SEC accused Ripple of raising $1 .3 billion through XRP sales. Judge Torres had previously ruled that some of Ripple's XRP sales did not violate securities laws due to a blind bid process. However, she also determined that other direct sales of the token to institutional investors were securities, giving the SEC a partial victory. The SEC now wants to appeal the decision about the programmatic sales and other distributions of XRP in exchange for goods and services. This case is a testament to the evolving nature of regulations in the crypto space and the challenges faced by both regulators and crypto companies. As the legal proceedings continue, the crypto community will be keenly watching the developments, given the potential implications for the broader industry. While Ripple faces the SEC, Binance confronts its own set of challenges. By the way, if you're enjoying our in -depth analysis, ensure that you subscribe and get notifications. Let's delve into what's brewing between Binance and Checkout .com.
The Crypto Overnighter
A highlight from 644:SECs Ether ETF Signal & Coinbases Canadian Challenge
"Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, corona extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. on Friday, August 18th, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas and no BS. But we do have the news, so let's talk about that. Tonight we'll delve into the SEC's potential nod to Ether futures ETFs, possibly a game changer for the crypto industry. We'll also discuss the storm brewing in Canada around stable coin trading and the challenges faced by Coinbase. Then we'll cover the Federal Reserve's action against Farmington State Bank and its implications for the future of banking and crypto. Tether's decision to depart from Bitcoin Omnilayer is another significant development that will dissect, shedding light on the evolving crypto landscape. We'll also turn our attention to a crucial legal battle involving tornado cash, highlighting the ongoing tension between government regulators and the crypto world. Finally, the spotlight will be on Mastercard's steps towards understanding and developing central bank digital currencies, marking a pivotal point in the financial world. The U .S. Securities Exchange Commission is on the verge of a significant move in the cryptocurrency space. Reports suggest that the SEC is gearing up to approve the first exchange traded funds based on Ether futures. This development has been eagerly anticipated by the crypto community, especially given the increasing interest in Ethereum. Several firms, including prominent names like ProShares, VolatilityShares, Bitwise and Roundhill, have submitted applications to the SEC to launch these ETFs. The buzz is that the regulator might not obstruct these applications, signaling a potential shift in its stance towards cryptocurrency -based financial products. While the exact timeline remains uncertain, insiders hint that approvals could roll out as early as October. This move by the SEC is not entirely unexpected. The regulatory body has previously permitted trading in ETFs holding Bitcoin futures. However, the crypto community is still awaiting the SEC's decision on ETFs that would directly hold Bitcoin. Major financial institutions, including BlackRock, have shown interest in creating such products. The potential approval of Ether's futures ETFs is a significant win for the crypto industry. Ethereum's native token, Ether, is the second largest cryptocurrency by market cap, right after Bitcoin. The approval would provide investors with a new avenue to speculate on Ether's future price movements without directly investing in the crypto. This development underscores a gradual shift in the commission's perspective on cryptocurrency products. Historically, the SEC has been cautious, often citing concerns about price manipulation, insufficient liquidity, and the overall volatility of the crypto market. Their apprehensions have been particularly pronounced regarding Bitcoin -based ETFs, leading to a standoff with the crypto industry on several occasions. However, the potential approval of Ether futures ETFs suggests a more accommodating stance, at least towards certain types of crypto products. This change could be attributed to the increasing interest from institutional investors. Valkyrie has also thrown its hat in the ring, filing an application for an Ethereum futures ETF. Their proposal is particularly interesting as it outlines a specific limit on the ETF's investment in the ETF futures contracts, adhering to position limits set by the Chicago Merchantile Exchange. The SEC's potential greenlight for Ether futures ETFs says something about the growing influence and acceptance of cryptocurrencies in the mainstream financial world. While challenges do remain, and the SEC's full embrace of the crypto industry is still a work in progress, these developments are promising signs for the future of crypto both in the U .S. and globally. While the future of Ether ETFs shines brightly, our neighbors in Canada face a storm surrounding stablecoins. But before we navigate those waters, take a moment to turn on notifications so you're always in the loop.
The Crypto Overnighter
A highlight from 642:Coinbase Enters Futures & Prometheums SEC Spotlight
"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. Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnighter. I'm Nick Dimas 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, Wednesday, August 16th, 2023. Welcome back to the Crypto Overnighter, where we have no sponsors, no hidden agendas and no B .S. But we do have the news, so let's talk about that. But first I have some housekeeping to take care of. Monday, Tuesday and Wednesday of next week there will very likely be no show. It's my anniversary. My wife and I are going out of town. So with that in mind, I wouldn't count on any new episodes for the 21st, 22nd and 23rd of August. Now, as far as tonight goes, Ripple and the SEC continue their courtroom drama with the SEC stance on XRP causing ripples in the crypto community. Former FTX executive Ryan Salame finds himself at the center of a campaign donation storm. Binance surprises us with a strategic shutdown of their fiat to crypto platform Binance Connect. Coinbase breaks ground, stepping into the futures market. Promethium hit the crypto broker dealer scene with the SEC's blessing, but not without raising some eyebrows. And finally, the crypto mining industry unites, seeking a louder voice in Washington, D .C. through the Digital Energy Council. Stay tuned as we delve deep into these stories.
The Crypto Overnighter
A highlight from 639: Stablecoins, DeFi, Regulation, Innovation, and Resilience
"Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. Join the fun as Jolly Shows returns to One Loudon for the big summer carnival. Now through August 20th, ride the Raptor, the Giant Wheel, or one of our great kiddie rides on the Midway. Win a prize at one of the games. Taste some delicious carnival foods like funnel cakes, cotton candy, or candy apples. There's fun for the whole family. Get information and save up to $20 on ticket packages at marylandcarnivals .com. That's right. Get huge savings at marylandcarnivals .com. The One Loudon Summer Carnival, now through August 20th. Don't miss it. Good evening and welcome to the Crypto Overnighter. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice.
The Crypto Overnighter
A highlight from 638:SECs Standoff, CFTCs Swift Moves & Binances Plan
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, corona extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight -er. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Saturday, August 12th, 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 delve into the SEC's face -off with Coinbase and the outpouring of support for the crypto exchange. We'll investigate the CFTC's swift action against a deceptive crypto venture and the SEC's prolonged decision -making on ARK Invest's ETF bid. Further, we'll explore Binance's strategic move towards AML compliance in Taiwan, California's new stance on crypto donations in the political arena, and Canada's proactive approach to managing the implications of the crypto boom. A consortium of blockchain advocacy groups voiced concerns over the Securities and Exchange Commission's lawsuit against Coinbase. They argue the SEC is attempting to usurp Congress's authority. In June, the SEC accused Coinbase of selling and trading securities on its platform without registering as a securities exchange. Notably, these alleged securities include prominent crypto assets like Cardano, Solana, and Polygon. The advocacy groups have requested the court to grant Coinbase judgment on the pleadings, supporting Coinbase's stance that the SEC lacks overarching regulatory authority over the crypto sector. Two tech -focused venture capital firms, Andreas and Horowitz and Paradigm, have also expressed concerns about the SEC's alleged overreach in the crypto industry. They filed a joint amicus brief supporting Coinbase. The firm stressed that the SEC's unpredictable actions threaten blockchain technology's growth in the U .S. U .S. Senator Cynthia Lemus, several crypto lobbying organizations, and a group of professors also urged the federal court to dismiss the SEC's lawsuit against Coinbase. They allege that the SEC is trying to exceed its authority by claiming that platforms like Coinbase are unregistered securities exchanges, brokers, and clearinghouse trading unregistered securities in the form of crypto assets. The Blockchain Association, Crypto Council for Innovation, Chamber of Progress, and the Consumer Technology Association have all raised concerns about the SEC's approach. They believe the SEC is trying to bypass the legislative process and seize power to resolve significant economic and political questions through its enforcement actions. The major questions doctrine has been a focal point in these discussions. This doctrine clarifies that only Congress has the right to answer policy -related questions with significant economic and political implications. That right is not granted to the regulatory agencies. The doctrine suggests that if an agency wishes to decide on an issue of national importance, it must have clear congressional authorization. Both Coinbase and the supporting firms have invoked this doctrine in their arguments against the SEC. The crypto industry's significance cannot be understated, with trading volumes reaching as high as $500 billion per day at its peak. The SEC's approach could potentially devastate the industry by undermining blockchain's ability to operate. Given all this support on Coinbase's behalf, it's evident that the SEC's actions are viewed with at least some skepticism. The crypto community sees these actions as an attempt to protect the traditional decrepit financial system. The SEC is overstepping its bounds, trying to regulate an industry it does not fully understand. The support Coinbase has received from various quarters underscores the broader sentiment that the crypto industry needs clear regulations, but those should come from Congress, not an overzealous regulatory body. The ongoing battle between Coinbase and the SEC is emblematic of the larger struggle for the future of the crypto industry in the U .S. The outcome of this case could set a precedent for how crypto businesses operate in the country, making it a watershed moment for the industry. While the SEC Coinbase standoff continues to stir debates, another regulatory body swiftly springs into action to protect unsuspecting investors. Because protecting investors is what regulatory bodies should be doing, not choking the life out of an industry they clearly don't understand.
The Crypto Overnighter
A highlight from 637:FTXs Debt Crisis, Bankmans Bail Revoked, and UKs Ad Ban
"Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, corona extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. 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 Friday, August 11th, 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 delve deep into Bittrex's recent settlement with the SEC. They're going to pay a pretty penny for noncompliance. We'll dive into the dramatic courtroom saga involving Sam Bankman -Fried and his revoked bail. The Winklevoss twins are back in the spotlight, battling it out with the digital currency group in a legal feud. We'll also explore the aftermath of FTX's collapse and the turbulent asset control feud that's emerged. The UK's crypto advertisement landscape might be shifting as the FCA plans a ban, but not everyone is on board. Finally, the European Union's digital euro project has economists raising eyebrows. Is it destined to fail or just facing some initial turbulence? Stick around as we break down all these stories for you. The US Securities Exchange Commission reached a settlement with Bittrex and its co -founder and former CEO, William Shihara. The settlement arises from allegations that Bittrex and Shihara operated an unregistered exchange. As part of the agreement, Bittrex and Bittrex Global have consented to pay a total of $24 million. This sum comprises $14 .4 million in disgorgement, $4 million in prejudgment interest, and $5 .6 million in civil penalties. The SEC's enforcement director emphasized that companies cannot sidestep liability merely by altering labels or descriptions. The core concern is the economic realities of the offerings. Bittrex's settlement with the SEC is not an isolated incident. The SEC has been actively monitoring and taking action against crypto exchanges that operate without proper registration. This regulatory scrutiny is part of a broader effort to ensure that crypto exchanges adhere to federal securities laws. Bittrex's decision to settle the charges without admitting or denying the allegations is a common approach, which is why the SEC doesn't. They know a lot of these companies can't or won't pay for a sustained legal battle, so they bully them into submission using the threat of a lengthy and costly trial. Easy way to rack up wins. Now, in this case, the settlement is still pending court approval. Bittrex's journey has been tumultuous. After facing enforcement actions from other US regulatory bodies, the exchange decided to cease operations in the US, citing the country's challenging regulatory environment. This decision was followed by Bittrex filing for Chapter 11 bankruptcy. Now, for me, the Bittrex settlement is a stark illustration of the challenges and uncertainties facing the industry. While the crypto community champions decentralization, financial freedom, and privacy, it's evident that the path to these ideals is fraught with regulatory hurdles. Any distrust toward governments and central banks are further deepened by such enforcement actions, which many in the community view as attempts to stifle innovation. Someone else is experiencing some rough seas. FTX's Sam Bankman -Fried seems to be sailing directly into the eye of the storm, with courts weighing anchor on his freedom.
Mike Gallagher Podcast
If Joe Biden Is Sidelined, Could Michelle Obama Step in As Nominee?
"There's growing concern about Michelle Obama. I don't know if you've heard this. Newt Gingrich is shining the warning about her. My buddy Kurt schlichter, man, oh man, he let loose. Remind me never get on Kurt schlichter's bad side over town hall. He writes a piece about Michelle Obama that is scathing. You want to, but his argument is, she could be laying in wait. First of all, I've been saying this for two years and everybody, oh, that's stupid. You know what people say? They say Mark, stop talking about that. Who tells me to stop talking about something unless they fear it. So thank you, thank you, thank you. She is an incredible candidate for no good reason, but you don't need a good reason. She has incredible star quality that's attached to who her husband is. And that's not to take anything away from her accomplishments, whatever they are, her services First Lady, which was fine for a Democrat First Lady, whatever. But she brings back the aura of Obama back when the Democrats had a president who could complete a sentence in the English language. She's a huge rockstar, massive positives, almost no negatives because she has no policy track record that is real. So it's not like I necessarily fear her. That's an overstatement, but would she be a force to be reckoned with in a Democrat landscape if Joe winds up being sidelined, you bet you it. Now what did Kurt say? I mean, I have all kinds of things to say about her. Her views that are terrible, but. First of all, Kurt was saltier than usual. I mean, for example, he writes, he writes, everybody knows that Joe Biden is a demented freak and a creepy confident weirdo who was an idiot before his mind disintegrated into the kind of mush that he eats on the rocking chair every afternoon watching matlock reruns.
Today, Explained
"rockstar" Discussed on Today, Explained
"Society. You're also seeing a much more diverse group of composers. It's just not dead white guys or even live white guys. There's a much broader sense of a bipoc community who are amazing composers out there. It sounds like what you're saying here in some drew is that symphony orchestras across the United States are finally putting a little more effort into trying to cater to their audience, which sounds like something that they probably should have been doing the whole time? Well, at least for the last 30, 40 years, yes. I mean, ideally in the perfect world for the whole time, but I'm also willing to be a realist and save you want to go back in the 50s and 60s. That was not the way America operated. Unfortunately. You didn't have to do it back then. Exactly. Right. I'm curious as, you know, the orchestra insider. What your opinion is as to how much influence Gustavo duhamel can have, leading one of the biggest orchestras in the country. And now moving to the other. She's in a position to where, if he can change something that is as entrenched and as old school as the New York film harmonic and get them to change their mission directed activity toward being meaningful to the surrounding New York community, the greater burrows, creating something like analysis program that the orchestra doesn't just give minimal money and lip service to, but a real multi decade investment that lasts well past when due to Mel will be there. That's where he can become an example of how to be that catalyst that changes and helps orchestras or break out of this decades old site. Drew McManus, orchestra insider, he's an orchestra consultant based in Chicago and he hasn't seen tar, doesn't want to. Believe it or not. Victoria Chamberlain composed our show today, Jolie Myers edited Laura bullard fact checked Paul Robert mounting mixed and mastered, amna Al sadi, Matthew collette siona petros, Amanda lewellen, miles Bryan, Hadi mawa, abishai artsy, and of course Noel king, round up the team here today explained his distributed by WNYC on the radio were part of the vox media podcast network. We used music by brake master cylinder, no arm hassenfeld, and Coldplay, I guess, now?
Today, Explained
"rockstar" Discussed on Today, Explained
"Unexplainable got a new three part series called origins. It's all about the beginnings and boundaries of life on earth. Every marvelous living creature on our earth is built of complex living cells, life is made up of atoms and molecules and chemical reactions, but what makes them alive. Where did earth's water come from? How did life actually start? And I don't know, just what is life? Origins from unexplainable, starting March 1st. Follow unexplainable for new episodes, every Wednesday. There's a new season of you out on Netflix, and the show's lead says this season he did fewer sex scenes to protect his real-life marriage. Meryl Streep's been married a long time. Do I think that every time she's kissed somebody or had sex in a movie, she thinks I can't believe I get to cheat on my husband right now just so I can win an Oscar. Like, no. You and the state of sex on screen, plus the writer of cocaine bear on cocaine bear. This week on Intuit, vultures pop culture podcast. Can classical music written by a bunch of straight Austro German church going white guys exalt us? Individually, as well as collectively. And who may I ask gets to decide that? Today explained his back, Gustavo dudamel sounds a lot like the solution, but let's talk about the problem. People who know classical music called drew McManus, the orchestra insider. He's got all the T and he says classical music is having a bit of an identity crisis right now. The way it used to market and sell itself for 50 plus years was you're a better person for attending. We have these rules. You come in here, you can assign a degree of affluence by simply being a ticket buyer. If people can afford the eye watering opera prices and to a lesser extent the cost of a ballet ticket, they can afford to dress sufficiently well not to cause offense. Back in the 60s, 70s through the 80s, that worked until it didn't. The perception on someone else telling you the way you're supposed to feel the way you're supposed to value something else moved very much in the other direction. And unfortunately, when you're doing something the same way for 50 years, it's kind of hard to pivot. At the root of that is that existential identity crisis. Tell me how dramatically orchestras across the country are impacted by this identity crisis right now. Orchestras are impacted by what I was calling the identity crisis on some really profound levels. The most immediate is going to be financial. Orchestra finances are impacted a great deal by how well an orchestra engages with its audience. And the most basic level of that is ticket sales. If you only have 50 to 60% of your haul sold out, a, that's a financial hit, but it also kind of sucks away the mojo and energy that an orchestra has. So it decreases your donations. It makes the organization less sexy for board members and large donors to become a part of. And it becomes a sort of self fulfilling prophecy and a negative sense. How many of them are in a tough spot right now financially? The vast majority. I don't think I should come as a surprise to anybody. And it's not the first time the field in the last 20 years has hit this when the housing bubble burst. That was the really first big major financial crisis that the field as a whole felt. Because orchestras get their revenue from three primary sources to get sales service revenue. Then there's contributed revenue, donations, both big and small. And the last one is going to be endowment, which is investment income. And then grants, foundations, government support. But when you take something like the housing market crash, that dotted the stock market, you had orchestras have a sudden and unexpected drop in their expected annual income. And for organizations that project their expenses anywhere from two to 6 years in advance because of labor contracts, that's a major problem and not something that you can just write off as a loss one year. With the majority of symphony orchestras in the United States, at least the major ones in financial straits right now, I would like to hear what's on the table to fix this identity crisis in classical music in America. Well, and this is where I think things get positive. Because it has forced the orchestra field as a whole to realize that this great art you appreciate us, we're going to tell you what to think of us. We set the rules, they have no choice but to change them. Because that just doesn't work. And you're seeing orchestras begin to focus more on the benefits of the concert experience from the ticket buyers perspective. Things are starting to change because orchestras will be getting to realize that people want to belong. And it's more than just simply attending to feel like you're belonging. You have to be able to understand and empathize from their perspective why something is important. And there are a couple of orchestras that do have some really good marketing campaigns that are starting to focus on that. One of them is elmhurst symphony because of their website. There's a great big photo on the front. It's not of a face. It's not of a music director. It's not even in the musicians. It's of a parent and a smiling child who are talking to a musician who you only see the back of their head, but they're in the hall itself. It's not anywhere else, but this direct engagement. And then they have the headline make musical memories. I love that. You know, I'm actually sitting directly beneath, I never really think about this. This is a WQ XR marketing campaign to get people to care about Beethoven, and they made it in this style of a shepherd fairy obey poster and it says, oh Beethoven. Right? Yeah, yeah. Another example of trying to make classical music more accessible. How does this relate to programming, drew? I can't help but notice that the Baltimore symphony orchestra, which is close to my home here in D.C. or the LA philharmonic, which is where my mom lives, they seem to be doing more live scoring of movies. I think maybe they both had home alones this year, where you could go enjoy the score while watching the movie live. That's one way that orchestras have been changing. Their programming has also become much more diverse, which is fabulous. They're doing far more contemporary composers. People tend to forget, even like we'll use your Beethoven example. Beethoven wrote the emperor concerto because he thought Napoleon was going to be this great wonderful thing, and it turned out, you know, Napoleon was kind of a dick. So he scratched out the original title and the inscription, and instead, you know, called it what he ended up calling the just the emperor concerto. But that was a reflection of Beethoven's time. It meant something to people differently than if you go listen to this today, which is now this precious thing. It's still in beautiful piece of music and emotionally deep. But we've lost that immediate reflection of what music is in our contemporary
Today, Explained
"rockstar" Discussed on Today, Explained
"Since the day his arrival was announced in Los Angeles, and perhaps even before then, people have been calling this guy. Classical music's savior. Has he ever shown signs of bearing that weight on his shoulders? No, because I think he's wise enough to know that he's not got that responsibility. That's something that some other people have put upon it, man. He has a very clear idea of what he can do and a great deal of confidence in that and a desire to grow and change, but no, he sees the world for what it is, and he knows that classical music has to evolve, but he said something funny to me. He said, even the word doesn't work anymore. We have to come up with a new term. He said, when I talk to young people about classics, they're talking about the stones and The Beatles and The Beach Boys. He says, we need a new one we need a new word. So yeah, he's aware that in order to remain a vital presence and not simply a museum experience, there needs to be renewal and evolution and that, in his case, that involves rethinking the kind of music we play, the kind of audiences we want to attract and the kinds of musicians were recruiting and bringing into the orchestra.
Today, Explained
"rockstar" Discussed on Today, Explained
"Second of all, he's the one who determines the programs, the repertoire, what pieces are going to be played and which concerts over the course of an entire season. And he plans that out years in advance. He's also responsible for deciding who the new members of the orchestra are going to be. And they also become the public face of the institution and to the extent that the institution and the LA Phil was very interested in this is interested in new endeavors and reaching out no different ways. They can lead that and determine those directions. So those are some of the things that a music directory does. So what does dudamel do that is different? He came to LA with this profound experience of music's transformative capacity for young people, and a desire to expand upon what was already in this city in the way of music education for youth and reach underserved communities give opportunities kids who would not otherwise have it. And make that a part of the city's life and a part of the life of the LA Phil. And he galvanized all of that and spearheaded it and helped give it a home. For young artists to have a good space where to build their dreams. Into these fire, because the spaces inspire us, there is now a center in englewood, the beckman center in a building designed by Frank gehry, where kids from around the city who would otherwise never have had access to instruments or teachers or fellow musicians or audiences to perform now play, and now have a home. And that institution, the youth orchestra of LA yola, wouldn't be here if it weren't for Gustavo. He and I had a conversation before we started making the film. And he said, Ted, at this point in my life, I know pretty well how to conduct. For me, the big question is why. Why play this particular piece of music at this particular moment? And in that way that is kind of ineffable, has a sense of the times, a sense of the zeitgeist, even though he's planning programs years in the head, somehow they land at a moment that is resonant. He also has an incredible gift for analogy. Most of the communication in a between a conductor and orchestra is nonverbal. It's movements. It's the shake of the head, a lift of the eyebrow. But when he does talk, he can express things in non technical terms that they're like carbonation. They kind of just give a little bubble to everybody that's working. And make some do a little better. There's an analogy that he uses in the film, people Maestro, where he's trying to get something out of the chorus that he's a little flat, guys. He says, sparkling. He may not. Okay. More like champagne, less like moonshine. And you hear that, and even if you're not a musician, you've got an idea of what you're supposed to do. He's got an idea of music that isn't aspirational. It's something that he inhabits. It's something that he lives. He listens to and enjoys and plays all kinds of music and has since he's a kid, so it's natural for him to program a Hollywood Bowl concert with Billie Eilish. Or to invite the most popular rock and roll band in Latin America, cafe tacuba, to perform with the LA Phil. He sees music in very, very big broad terms. And is able to bring audiences for that reason into the concert hall that will not always be there. But when he conducts the bowl is packed and when he's collaborating with popular musicians, it's full overflowing. Wow. So he's a wild success. Which is what ultimately leads him to committing the ultimate act of Los Angeles betrayal, which is moving to New York. I did not see his departure from Los Angeles coming. And in the weeks since the announcement has come, I've realized that this wasn't betrayal, this was development. He came to LA in his 20s and when he moved to New York, he'll be 45. He was ready for a new challenge. And being as accomplished as he is, there aren't a lot of places where he can really get that kind
Today, Explained
"rockstar" Discussed on Today, Explained
"Today explained, Sean Rommel, we're going to tell you the story of a rockstar Maestro today, and to do it, we reached out to Ted bronn because Ted just made a documentary about Gustavo, dudamel. He's a person who creates a very big tent for listeners in which people with a lot of interests from a lot of different backgrounds with a lot of different ideas about what orchestras play and ought to play can come and gather. He's a force that unites people and brings them together. And I think in large measure, because he believes that music has that capacity that it's not for elites or groups of a specific sort, but for everybody. Tell us his story. Where does it begin? He is the son of a salsa trombone player. He grew up in the town of barquisimeto in Venezuela. And was fortunate to have come into the world at a time that a music education program had just taken hold in Venezuela, a program called el sistema. And that translates to literally the system. Literally to the system. Instruments and teachers for any child, anywhere in the country, regardless of their ability to pay. But it's not just about music. It's unashamed social engineering. Keeping kids off the streets and away from drugs and gangs. You learn in groups rather than with an individual teacher as soon as you have contact with people who are learning alongside you, but ahead of you, you start working with them so that students very quickly become mentors and teachers to the new students who are coming in and this creates a very strong bond and sense of community. I'm a result of a program. You know, my education is coming from playing in the orchestra. Since the very beginning and have an opportunity to interact with other children and learn together. So that action for me that I understand because I was inside of that is very powerful. How does Gustavo do the ML do in this program? I'll sustain. He crushes it. As a little kid, he wanted to play the trombone, but his arms were too short. So they suggested the violin. Rough. But we're talking here about a world class conductor. How does he make that shift from failed trombonist to successful violinist to conductor? He makes that shift by complete accident. He was in the violin section of his youth orchestra in barquisimeto, I was there, the conductor didn't arrive. I start as a game with the orchestra to conduct them. And suddenly everything became serious. And so the story goes, the conductor arrives and watch what was happening. And thought, maybe we ought to encourage this as more than an accidental incident. Maybe we ought to talk about you studying conducting and that was how it began and very quickly and we're talking, I think he was 12 or 13 at the time. Very quickly, he showed a real aptitude for it. And he's so good that he jumps from Venezuela to Los Angeles. By way of Sweden. He won a very important conducting competition in his, I think late teens or early 20s, and at that time the conductor of the national youth orchestra Venezuela. That brought him to a lot of people's attention, including the music director of the LA Phil at the time as a pack of Solomon, who said to the CEO of the Philip time Deborah Porter, he said, I've just seen a conducting animal. I remember I was in college, maybe finishing up college around the time, his conductorship was announced. And I just remember the marketing, you know, you were seeing a conductor all over the town and it was like 50% hair. Aside from the hair, the first thing you might notice about Gustavo dudamel is the joy. There was a lot of hair. There still is a little less, but yeah. That's how it goes. And beyond the hair, you could tell that they were really sort of announcing the arrival of a new star to a city of stars. The LA fill understood that they had an exceptional talent. I mean, really a once in a generation talent in Gustavo. I think that the atmosphere exists here for him to really change musical history. They also understood that he was Venezuelan and Los Angeles is a city that is very much a Latin city. He was young, and he was charismatic and attractive and he has a very expansive view of music and he wanted to bring new audiences to LA. That was a big part of what made coming here attractive to him. Help people understand what a music director like Gustavo do the male does once he arrives to Los Angeles. It may seem obvious, but it's super important. He conducts the concerts. And if those concerts aren't riveting and magical and driving people into the theater, and if the musicians aren't inspired to play really well, nothing much
Clubmarket Demo
"rockstar" Discussed on Clubmarket Demo
"A blood life how you pull up and how you belong how you belong I love for the kitchen. Brand new Lamborghini a cop car with the pistol on my hip like I'm a cop and I'm never met a real new baroque style it's they no guitar but this the clock I got told me to promise you gonna sweep me better let me go today you need me put me on and you can get the bus and if I ain't enough go get the chop it's safe to say I earned it ain't a new gave me nothing I'm ready to hop out on a nigga get the bus know you heard me say you play you late don't make me push the butt pull the pain drop enough tears to fill up a bit of a funk going for buckets about a chopper. I gotta pay trying to hold a hundred and go up in that and I'm ready to air it out on all these niggas I can see them running starting my mama so give me on FaceTime just to check up on me and my brother I'm really the baby she know that the youngest I was always guaranteed to get the money. Okay, let's go. Now that the baby boy was I was guaranteed to get the loot you know what I do she know I run from it around and pull it out and shoot it. I'm always breaking up a cold swims like I got to feel my daughter the chief. She started killing it in front of her before they too. And I kill another bit too. One of the men you can do something to you. This is you know that I'm invited to a different body life. Let's go. Brand new Lamborghini a cop car with a pistol on my hip like I'm a cop have you ever met a real nigga with rockstar. If they know the topic it's the clock. My Glock don't need a promise you gonna squeeze. You better let me go today you need me put me on a new get the bus. If I ain't enough at the top keep a when I run in the super bourbon as a pony had a young swerving. I got them up. Watch me watch them light the turgid. And I'm balling that's why it's diamonds on my chest. I don't offside and flip the block back yeah watching you pop them and let them lotta yeah yeah we spend this life got the rebound in this ride man for me one time. You can't cross me again 1200 horsepower. I get lost in the wind. If you talking on it y'all depend dogs and take his chin maybe back that's UV for my refugee 5 blocks in the hood put money in the streets. I was following the opps caught me at the gas station had it on me 30,000 thought it was my last day, but they ain't even want no smoke if I had to choose and murder what she wrote brand new Lamborghini the cop car with the pistol on my hip like I'm a cop as you ever made a real nigga rockstar this ain't no good job just a clock I got to meet a promise you gonna squeeze better let me go today you need me bitch put me on that girl get the bus and if I ain't enough go get the top.
Accelerate Your Business Growth
"rockstar" Discussed on Accelerate Your Business Growth
"On that level? Well, the speed of trust is a real thing. I mean, connection happens in a moment. Trust is in the ability to provide. If you can give people a reason to say, look, here's something I'm going to show you and you can do it and it works immediately. You've instantly gained a measure of trust. The thing that we do have to be real understanding about, right, is that when people are in uncertain times, whatever they lacked in the ability to trust is only going to be exacerbated. If people have fears and anxieties and doubts, you can count on those to be at least two X, maybe ten X in times like this, which means you can't just be good at digging them out of their piles of denial. You have to be impeccable in world class. You have to be consistent. I have actually, we started using a term that I've called love loyalty and lift that if you have to show extreme measures of love in an environment like this because people need to feel like you actually care about them and the problems that they're experiencing. Loyalty, they need to see that you're going to be if you said you're going to be around that you got to be around. They want sometimes they might register for something and not show up. They just want to see if you're going to still be here next week and next month and next year because right now they're fearful and they need somebody that they know has some staying power. So they know who to follow. And then in the lift category, you've got to be doing the work to elevate people. If you can't bring them up from where they are, they have no reason to trust that you can get them where they're going. All right, so that feels to me like you can't fake it. You know, you can't. Right. Talk about things that you really don't have the skill or ability to deliver the authentic. Exactly. Because right now, right now, the beauty is authenticity, I hate that word. It's so abused these days, but that is what's selling. And people can feel the real you? There's a resonance and a trust and a connection that most people will have everything that they couldn't even explain if they wanted to. Right. Because that's what they really want. They're looking for solution providers or partners or whatever you want to call it, that they feel confident have their best interests in mind and know what they're talking about. They're not going to sell them a bill of goods. Correct. Yeah. That's interesting. Yeah. If someone's listening and they're thinking, okay, I get it. I'm on it, whatever. And I want to make sure that I have systems in place so that I can really optimize my revenue generation are there areas that you think, you know, they should be focusing on what would you advise? Very much so. One of the most impactful things you can do to gain immediate traction is revamp your offer. Most people, I'll just say it. Your offer, if you're listening to this right now, here's a good chance that your offer probably sucks. And I mean at the best possible way, you probably have a world class solution that is just packaged very poorly and if you're the only person who can sell it as the founder or it requires rockstar salesperson to sell it, it's a bad offer, right? You want something that an average salesperson can sell consistently and predictably. And if your bank account is usually the evidence of whether this offer is actually crushing it or not. So you need an offer that can be simplified and compelling. Next, you need a bleeding neck problem to solve. Who's the ideal avatar? And what's the bleeding neck problem? Believing that problem can't be something that is near or sort of or kind of, you know, if you have a sore neck, how many times do you jump in the car and go to the hospital because your neck is sore? Not very often, right? But when your neck is bleeding, you got a little bit of a gusher coming out. I'm sorry, forgive the term for the visual, but you're getting in the hospital or you're calling the paramedics, you're doing something to get solution there because you're going to die if you don't. That's a bleeding neck problem. And no matter what business you're in, it doesn't matter what you're selling or offering. You are solution has a bleeding neck version of it, which is the center of the bullseye, and when you can tap into the people who have the greatest amount of pain and gushing blood, those are the people who are going to show up. They don't need you to do a song and dance for them. They need you to be crystal clear that you can actually solve the problem. And then they want you to get out of the way and help them let you help them solve the problem. If you have to do 25 touch points and all this stuff to dance and make magic happen for people is because it's not crystal clear, you haven't tapped into the person who's got the pain so deep that you are the immediate and ready solution for it. So when you can do those things simply and create a prospect journey that makes it simple and easy and evident that they're in the right place and they're taking the right steps towards solving that problem. When they get on a phone call with you or somebody on your sales team, it's usually just about matching them with the right solution, not about convincing them that they need to buy something. So what do you think gets in the way of that? It feels to me like if we're not really speaking to that Avatar then what are we doing? What do we think, you know, who do we think we're talking to? Or what are we doing that is creating a situation where we're not being hurt? Yeah, well, too many times we're either so happy to have somebody to talk to. That we are not as we're focused on showing them all the wonderful things that are product can do instead of getting crystal clear with them as to what is their level. What is their problem and what is their level of commitment to solving it? Because until somebody has a problem that presents and it commitment level, meaning consensus on their side of the equation that this problem needs to be solved and needs to be solved today because those are two different things. Until then, you don't actually have an offer to give anybody. And too many times we're trying to match somebody, we think if they're even remotely close, let's get them match up with our solution. And then we're trying to overcome problems like, well, you know, I can't afford it. I got news for it. There's no such thing as I can't afford it. Every single response they send to you is one that says you haven't tapped in clearly enough into why I should do anything about this now. If I need more time, if I need to think about it, I got to talk to my all of those things are some version of. We did not put them at the ideal intersection of pain and solution. Right. Yeah, that's really interesting. You know? Yeah. You know, most people immediately go too well because I get these questions a lot. People will come to us and, well, what do you do with somebody who just needs to think about it? Well, you have to give them a better reason to not think about it. You have to, you know, somebody says, I need to pray about it or I need to think about it. So let me ask you this. How much time have you spent thinking about this in the last week month
Stuff You Should Know
"rockstar" Discussed on Stuff You Should Know
"It's pretty good. All right. You then you've got, of course, rockstar. That was launched in O one. That is owned by Pepsi. And you see a trend here with any beverage any beer. If you're some kind of cool small brand that's selling a lot of stuff, one of the big dogs will come along and gobble you up pretty quickly. And I think that's the goal for a lot of these companies. It's like a big payday. Sure. Apparently, rockstar is kind of going down in the market.
Stuff You Should Know
"rockstar" Discussed on Stuff You Should Know
"It's pretty good. All right. You then you've got, of course, rockstar. That was launched in O one. That is owned by Pepsi. And you see a trend here with any beverage any beer. If you're some kind of cool small brand that's selling a lot of stuff, one of the big dogs will come along and gobble you up pretty quickly. And I think that's the goal for a lot of these companies. It's like a big payday. Sure. Apparently, rockstar is kind of going down in the market.
The Financial Guys
"rockstar" Discussed on The Financial Guys
"Thank you so much. Listen, you're not going to talk about the client appreciation, big party and bash we're having later on. I am not. Why not? 'cause I'm holding that till Saturday. I'm going to talk about that. Well, we are having a big part though. We have a huge problem. I'm not going to say where, but we do have a huge party tonight. We have over 1200 of our clients coming to our client appreciation event. This is the largest client appreciation event that I have ever heard of, right? Last year we had in our parking lot because of COVID, no place would guarantee that we could have it. So we had it in our program. We have over a thousand people in the financial guys talking about last year. Two bands, 5 food trucks. This year is going to be awesome. Again, it's not in our parking lot though. It's at an undisclosed location, of course, our clients don't want you afraid. Are you afraid that people would just show up? Is that why you're keeping hush hush? I don't want people to show up. I don't want agitators to show up and impact our clients like they did with Congress people. Do you have to literally liberal chasers that we had cut you guys down? There are 20 or so antifa, not even 20. There's probably about 12. Honestly. And they only show up together in a group because they're afraid to go out by themselves. It's not as if we have security and whatnot. Not to mention, we're a firm of 40 strong. I mean, 12, snot nose punk show up. We're able to give them a beatdown no problem. It's our elderly clients that are 75 60, 65. But I'm so looking forward to this. It's going to be a lot of fun. Live music, 1200 plus people. It's going to be fantastic. It is one of the largest parties that I know of in western New York, and certainly the largest client appreciation of party that we've ever had. And I've ever even heard of. But you know what? We appreciate our clients. That's why we're here. Our business is thriving. I can't thank them enough, whether they're a client of our Medicare company or they're a client of our home and auto company or a client about wealth management firm or
The Financial Guys
"rockstar" Discussed on The Financial Guys
"What do they want us to eat like berries and fruits and no bugs? Seaweed. Bugs. He bugs. No, nothing. They wouldn't want that. They were killing the insect. And that's not right. Look, it's just so easy to follow folks. Bill Gates just bought more farmland in the country than any single owner owns, right? Why? And all of a sudden now, Bill Gates is pushing for a meatless society. Interesting. Could it be that he wants crop prices to go through the roof while we're starting eating nothing but Lagrange? Remember when quorum prices went way up because we used our food to make gasoline. Remember that? Brilliant? Yes. What they want folks is they want us a 100% 100% dependent on the government by doing this type of stuff. It's not about, this is about transferring wealth, right? Bill Gates will make you poor while making himself wealthy. Do you think Bill Gates cares about you? Do you think anybody in government cares about you? He's not a government, but do you think Bill Gates gives a rat's butt? How many people in this world die? Oh my God, we get a vaccinate the world. People are going to die. He doesn't care. He doesn't care, right? In fact, he said the opposite. We need less people on this earth, right? But this is scary stuff, folks. When you start to see stuff like we want in 2030, 8 years away, our target ambitious target for meat consumption for common folk, not for them, for Klaus Schwab will still be eating ribeyes and Tebow. Right? I assure you of that, right? It's crazy. But read it. Read it for yourself. It's on our Twitter feed. Do what I tell you, not what I do, okay? There's a double triple quadruple standard out there. Well, because they think the resources are being used up to. They want it for themselves. Why don't people just see this for the idiocy that it is that no common sense it's gone out the window. How about clothing? How about this? How are they rationing clothing too? Sure. Here's a consumption intervention. I want to hear this. Reduce the number of clothing and textile items. Why? How about this clothing bad for the atmosphere? I guess. How about this progressive target? 8 new clothing items per person per year. They're ambitious goal three. You can't make this shit up. They have posted this. This is their agenda. This is their handbook, folks. This is the handbook that why am I laughing? They're trying to make this a reality. That's right. Mayor Bloomberg, a mayor Sadiq Khan, the mayor of London. These are the folks that are involved in C 40 cities, right? How about this? 50% reduction in supply chain waste. Ideally a man bishop goes 75% reduction in supply chain waste. Most of these folks have no idea what a supply chain even is. A lot of them do, right? Well, they know when they go to buy something and it's not on the shelves. That's a problem. The mayor of London who's never had a private job at his life has no idea, right? Okay. Now gates might, but anyway, how about this one? How about how about zero private vehicles? Progressive target for 2030. But wait, who's going to own them then? A 190 vehicles per thousand people, their ambitious goal is zero private vehicles.
The Financial Guys
"rockstar" Discussed on The Financial Guys
"He grabbed Kamala as job security, right? Because if we get rid of Joe, we're stuck with Kamala. But I guess she speaks better than he does. He's at least because she's coherent. Here's the play, I think. I'll get to the second. This is Joe Obama's third term, okay? Obama can now do everything he wanted to do in his term without getting blamed for doing it, right? And that's goes back though. A lot of this green new energy deal, right? He wants to push his green new energy deal because it's a money laundering panacea for these folks. Just like the ongoing wars around the world have been a money laundering panacea for the Democrats and all politicians, right? There's a lot of these politicians are worth over a $100 million in Congress. How do you make a $180,000 a year as a congressman? And end up worth a 115 or a $150 million, right? Look, why don't they investigate that? Oversight committee for that. That would have to be themselves, right? That's just the problem. But Obama is now able to implement all of these things that he didn't want to be unpopular for implementing. But now he can use Joe as his Patsy. And so Joe is simply the fall guy who's going to take the blame for all this. And sadly, Joe is too stupid or not stupid. Joe is too. No, he is stupid. No, I just think he's got dementia. Joe is too, at this point. Mentally gone. To be nice. To really understand what's going on. Who does understand what's going on, though, is doctor Jill. And you have to wonder why doctor Jill would let her husband be an absolute Patsy and embarrassed like this, right? So here's what I think happens. After the midterms, they're going to take a shellacking. Republicans will turn over Congress, at least the House of Representatives, if not both the House and the Senate. Once they do that, we now have gridlock for the next two years, right? Right. So nothing will get done.
The Financial Guys
"rockstar" Discussed on The Financial Guys
"We're all good. I think the idea here, this is certainly Obama's third term, right? This is not. Joe Biden couldn't order off of a menu right now. He's lucky he can barely feed himself. He doesn't even know who's running things. He gave a speech about the January 6th insurrection that honestly, I'll find it and play it here. He just slurs his speech. Look, everybody knows, Trump didn't condemn January, which he has. Look, you guys, the Democrats burnt down many of our major cities during inauguration. They burnt down D.C., D.C. was on fire all the place. I didn't hear a single Democrat condemn any of that stuff, by the way. Nobody, not a single Democrat. In fact, Camilla Harris was bailing people out of jail. She was supporting and promoting these bail funds that were bailing out criminals or writers or protesters. Because their reason was to write reason. That's why it's okay to burn buildings down because it's only fair. And remember, they have insurance anyway, so it doesn't matter. Well, that's correct. Whatever, right? As if The White House or the Congress doesn't have insurance that covers that stuff. I'm not saying it was right folks, certainly January 6th was stupid as hell. However, I do believe it was a shut up. I mean, I don't think you can't tell me that ray apps is walking around out there because he didn't quote unquote, well, he actually tucked them and didn't break the law. But the grandmother with the knitting needles that got escorted through and stayed within the red robe. She did break the law. He's clearly on tape and citing people to go into the multiple days. Come on. That way. That way, right? Nothing happened to him. Nothing happened. So you know he's a fad. He's a fat, right? How many feds were involved in January 6th? I tell you what, I hope that I hope to God that the Republicans take Congress. I expect that they will. I expect we'll get gridlocked. I hope they open up their own January 6th commission.
Relationships & Revenue
"rockstar" Discussed on Relationships & Revenue
"Mental health is a big deal for me and executives. Depression suicide is all. I'm not be bullied him. Would you understand. You are self knowing self confidence self care that happens in you know how to stop things and do things so anyway understanding how to show up our flea in that space which also relates such business. I've got a freebie for that In in my book unleash. Rockstar is launching in september. We were excited about that. Yes and It's talking about personal branding in a digital age and will it and also guys a couple of online first time ever doing six week intensive we're going to do a deep dive go deep in six weeks to get you to build up Brand out the strategies to scale that you're gonna get some so many tools to be able to scale that businesses things that i use every single day and i've used less than five thousand dollars to advertise my business in twenty years. Lubbock man loves always use my personal brand of skill. My businesses right so But gap but jonathan george on all social media everywhere and i mean you know. I got the money where my mouth is. So you know on all social media not not active on all of them but I am on all of them. Check my messages david. So like with you. Perfect and of course what that means jonathan since you have a book coming out later this year. Oh folks for those of you. Who are listening to this. Viewing this we are recording. This in the middle of may twenty twenty one so just make sure everyone has a reference point for when this is being recorded when it comes time for the to come out would love to have you come back on to promote the book We can do a give away all kinds of fun stuff to that though for sure all right so what i want to do now is i'm to take us into our final. Four is just four quick questions the first thing that pops in your head. I'm an hey let's all right here. We go question number one. Why did god create jonathan to to raise the vibrational level of plan to the world. My name is quick..
The Culture Soup Podcast
"rockstar" Discussed on The Culture Soup Podcast
"Yes yeah it's important to have multiple streams of income and because it it also alleviates some of that what we were talking about a little bit earlier in an feeling institutionalize and feeling that you do have options. Should you ever need to exercise them. And that's not to say that you want to right now. Not this but you don't know how you're going to change cove. It has changed a lot of ample outlook mind and for those who have decided. I'm don i'm good. I'm going to try something else. But haven't been positioned to do that. You know that's a bit of a misfortune you've been building it along the way then you wouldn't just be feeling as if you're gonna be jumping off the deep end or you want to do something. Different soul is no longer feel with passion. Yes i talk about day with you. I know i love chatting with you. I am so excited about your running. If it i mentioned cheryl is in the book twice. And when i say in the book when i talk about people in the book there are in their their stories are told okay so go check it out. She's in chapter three insects. Go ahead i was say i'd read it in chapter three so nice you put me and then i was like wait. That's me to appreciate it. She is in chapters one around the authenticity but also the fact that other people have made to executive leadership other black women other women of color which means we can do it too in that room. It baking pan. I can you can whoever they is. If they can do it you can do it too. Absolutely cheryl grace as so appreciate you. Thank you for your patience through the technology. Blips you may minute appreciate you soldiering through and everybody get the book because you want to hear her story and how she's juggling things and also being who she is in her red bottom pops landed. I love that you've done this. Thank you for all professional women everywhere. Michelle thank you for this because it is needed and thank you especially from one black woman to another slam. God bless you for you to take care me by everybody. That's it is cheryl grace. Thank you for hanging around with us. Let me tell you where to get the book. Some people are asking about this t shirt. The book can find this the hardback okay. So the back you can find on bars. Dot com being dot com. You can do that or you can go to my website and special edition this little bit different from this and i will ship it to you. I will make sure that it signed okay. So that's l. michelle. Smith dot com. We've got this thi. This is a ladies t is just for the ladies and we have a unisex t. We also have a hoodie for the fall. So i have to deal going on with the hoodie right now. Look into it okay. You can bundle the honey and the hardback cozy up and get yourself a good read. Thank you so much for your time today. Thank you for your patience. And i'll see you online. Find us online at dot com on instagram and twitter at the culture and facebook at the on until next week. The coaches park as reduction of known as communication. Paul the culture soup. Podcast is a registered trademark of no silos communications. L l c..
The Exsellence Mindset Podcast
"rockstar" Discussed on The Exsellence Mindset Podcast
"Miller on the program today. what's up. what's up. Buddy. how are you man. I am living the dream. I feel so lucky to have you on the show and just lucky to be living life at the ripe old age of two nine. Don't know we are recording this on my twenty nine th birthday aka. i'm not gonna shout it loud force your my fortieth birthday one. I say But we just talked about that ryan. I'm proud to be that big number And you just talked about how you. My friend are Your you told me that your life started when you were forty. So i'm going to talk about that too. The real quick for those. That don't know. Ryan ryan is a coach Business coach high performers and consultant Leaders all across the united states Started in More or less the insurance and benefits world but he is quickly expanding that presence. I've noticed so we'll talk about that as well and If you don't mind. I want to dig right in and and just get to and i have a few questions. I've been dying to ask you fire lead. I'm always ready right. Always always ready so first off. I do have to mention if the guys if anybody's watching on the youtube channel you'll notice. We have our matching a stud hats. I will say Into ryan how much his new hat. He's got a new bradsby authentic. Be a how much i needed. An orioles version of that hats. I'm always representing something orioles For those that can't see. I just pointed oriole bird on my chest on my jacket And dude out of the blue. He hooks me up. He sends me this hat new era. He doesn't mess around. The brand is exactly what major league baseball chooses. And it's orange and black be authentic so i had to wear for the day man. I feel like as an orioles fan. If you can admit that on a consistent basis you are as authentic as anybody out there so just deserved it on for hours about that will span. Probably not as big a baseball fan. In general as i am. But he's an angels fan in the angels. Although they have great players have not really been able to put their stuff together for a long time. Either but we'll save that for another day off right. Talk to me about About your coaching business. Talk to me about what you're doing to bring value to those that hire you and pay you every single month to to to get them to the next level because You know i'm part of one of your coaching groups to and the experience has been credible. But here's the reality If you're not already following ryan. He gives away a ton of content of value tremendous value..
Frankenculture Presents
"rockstar" Discussed on Frankenculture Presents
"And stunning four k for playstation five and again. This is all rumors. We've seen some other stuff come up like the red dead redemption remastered collection and other things. But it's fun to make fun of it includes grand theft auto four episodes lost and the damned and the ballot of gay. Tony i never. I don't think i ever went to play the expansions. I didn't either don't need to keeping up. There's no there's no reason to go back and play the your russian right in grand theft auto four. Yes you're the russian nico i met. I signed my granddaughter. Four book did you really. That's kind of cool. That was at san diego comic con. And then i lost it hell. Yeah ooh yep go ahead you can take away man so more rockstar news. The long-awaited bully to wasn't development. at rockstar. it got cancelled got cancelled multiple times to focus on. Gta do doodoo. Twenty-five six so we could have had a bully to they. Don't have that many. Like you would have more than one development team right. Like i i don't know about. You did play bully. Yes no fucking loved that game. I love that game. I don't survive in today's climate true but it was. I don't know that that's upsetting. I didn't see this article. Until just now i think survive really maybe like a playstation exclusive. Oh hudson right. Because because that's the only out anymore remastered the first remember the first bully and put it on playstation. Yeah for forty bucks with grant her you get you if you buy the four hundred dollar addition of gta five you get five four at all of its bullshit and bully. Bully taylor tennis. Yeah the data racing game didn't they. I think so been nightclub boys so someone responded about wanting to poster. I have received a dronne flaccid penis on my snapchat for a poster so good and get the post while they just need to email steve at frank culture dot com it. Is i put it in chat. If you guys saw you guys can email there for that poster. You send the picks they're not the year rockstar also did create midnight club midnight club. That's right holy shit. I was the line i forgot about. What else do we have here. After my heart has been broken now fussy rockstar. do they have so many different studios rockstar wrestler india dundee leads lincoln london new england north san diego toronto. You're telling me one you can have just handed one of those off so type in body space harvest for the nintendo sixty. No they did offer truck madness. sixty four earthworm. Jim earthworm jim. Three d for the sixty. Four austin what happens and behave on the keyboard color gemini. Oh my god austin into underground layer rare. May jeffrey smuggler's run those. The game stood emergency games. Green feminine is full on this. He's a he's he's talking about last gen..