21 Burst results for "Tyler Winklevoss"
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"tyler winklevoss" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Welcome everybody to Crypto News Alerts, the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin recaptures $27,000 and quoting Max Keiser, the high priest of Bitcoin, Bitcoin is the North Star guiding to the only safe haven asset in the world that protects against inflation, confiscation and censorship preach. Also in today's show, Ethereum futures ETFs can start trading as early as next week. According to top Bloomberg analysts, we'll also be discussing the SEC pushing back the deadline for spot Bitcoin ETF apps, definitely not a good look. And speaking of ETF apps, I'm also going to be sharing the five highlights of Gary Gensler's evasive testimony before Congress quoting Senator Warren Davidson. Gary Gensler's tenure at the SEC highlights two key problems. Number one, Gary Gensler's problem and number two, the SEC's structural problem. That's why I introduced the SEC Stabilization Act to fire Gary Gensler and restructure the SEC. Let's freaking go. Also in today's show, crypto analyst Michal van de Poppe predicts a very positive quarter four for 2023. I'll be sharing his targets in which he outlines. We're also going to be discussing the SEC's inaction on the spot Bitcoin ETF is a complete and utter disaster, according to the Winklevoss twins. And speaking of the Winklevoss twins, I'm also going to be sharing with you their $500,000 Bitcoin price prediction, which they say is coming soon. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again that's cryptonewsalerts.net. Welcome everyone. This is pod episode number 1415. I'm your host JV. Today is September 28, 2023 and Bitcoin is finally back above 27,000 as we're pumping right when I hit the live button. We're currently above 27,100 up over 300% today and we continue climbing. Welcome everyone in the live chat. I gracefully appreciate y'all. Yeah, who knows? Maybe we'll hit 28,000 by the time today's live stream is over. Let's see. And make sure to let me know where you're tuning in from in that live chat as I'll be giving everyone a shout out towards the end of the show. And with that being shared, fam, now let's dive into today's market watch. As you can see here, every major crypto back in the green. Bitcoin above 27 G's. We got Ether up three and a half percent trading at $1,655 BNB, XRP, Cardano, you name it. And checking out coinmarketcap.com, we're currently sitting above $1.07 trillion with about $26 billion in volume in the past 24 hours, Bitcoin dominance at 49.1% and even the Ether dominance on the rise today at 18.5% and checking out the top 100 crypto gainers of the past 24 hours, holy moly, compound up 20% trading under 49 bucks, followed by Thor chain up 13% trading at $1.94, followed by Lido Dow up 8% trading at $1.59 and checking out the top 100 crypto gainers of the past week, massive gains, which we love to see, especially after a pretty bearish altcoin season to say the least. We got CompLead in the pack here as well up 20% and Rune up 13.4% and RLB up 13% and checking out the crypto greed and fear index, we're currently rated a 46 in fear yesterday at 44 last week, a 47 and last month, a 39 in fear. So there you have it, fam. How many of you are currently bullish on Bitcoin and how many of you took advantage of the recent dip? If so, let me know. It's good to see we pump in once again. So hopefully those positions are now in the green. Now let's break down today's Bitcoin technical analysis, check out the charts and why specifically the market is pumping right now. Here we go. Let's get it. Bitcoin hit new weekly highs after the September 28th Wall Street open as markets awaited fresh cues from the US Federal Reserve. And here you can see in the Bitcoin one hour Campbell chart, pretty freaking bullish to say the least. Data from Cointelegraph and TradingView showed Bitcoin price strength staging a comeback, having delivered what some referred to as a classic pump and dump 24 hours prior during the performance. Bitcoin hit a high of 26.8, which appeared on Bitstamp as a result of 2% daily gains before Bitcoin retraced all of its progress, then a slower grind higher than took hold with the bulls edging closer to 27,000, which we finally just recaptured here a few moments ago. Now GDP for quarter two grew by 1.7% year on year below the projected 2%, while the PCE index data for August came in in line with the expectations, quoting analyst Keith Allen, bring on the volatility. Now meanwhile, data from Binance's order book uploaded by Allen showed little by way of resistance standing in the way of the spot price under the 27,000 mark. So as you can see, just more bullishness for the king crypto, the macro data constituted just the prelude of the day's main event. Meanwhile, Jerome Powell, the chairman of the Federal Reserve due to the comment later on today, Powell, whose recent words failed to deliver noticeable volatility to the crypto markets was due to speak at the Fed's conversation with the chairman, a teacher town hall meeting event in Washington DC at 4 p.m. Eastern today. Now commenting on the state of play on Bitcoin markets, popular trader Dan crypto trades was a little more optimistic around the strength of the day's move compared to yesterday, September 27th, quoting him here back to yesterday's highs, but with considerably less open interests. No doubt there is longs chase in here, but it is less frothy than it was yesterday. Would still like to see longs chill out and not get to a full retrace later on. So there you have it. Let me know if you agree or disagree with the analysts. Meanwhile, quoting another analyst, right, capital Bitcoin is right back at the bull market support band cluster of moving averages, challenging to break out beyond them. Let's freaking go. Now, elsewhere in the day's analysis, he acknowledged that 29,000 could make a reappearance and still form a part of a broader come down for BTC. As he shares here, it's important to remember the Bitcoin could technically rally even as high as 29,000 to form a new lower high, which would be phase A and B. He explained alongside this chart. So there you have it. Let me know if you are currently more bullish or bearish on the King crypto and quoting the high priest of Bitcoin, Max Kaiser, Bitcoin is the North star guiding to the only safe haven asset in the world that protects against inflation confiscation and censorship preach. Now welcome to y'all just joining us in today's podcast. As always, I appreciate everyone's daily support and means the world. And now let's discuss our next story of the day as Bitcoin continues to pump, shall we? We're going to be discussing the Ethereum futures ETFs, which can get approval. They say potentially as early as next week. So let's break this one down, shall we? Ether futures ETFs could start trading for the first time in the United States as early as next week. According to top Bloomberg analysts on September 28th, which is today, Bloomberg intelligence analyst, James Safart said in an ex post, it was looking like the sec is going to let a bunch of Ethereum futures ETFs go next week. Potentially. His comments were in response to fellow ETF analyst, Eric Balchunes, who said he was hearing that the U S SCC wanted to accelerate the launch of Ethereum future ETFs quitting him here. They want it off their plate before the shutdown, he said, adding that he's heard various filers updates on their documents by Friday afternoon so they can start trading as early as Tuesday next week. As outlined here on X. Now the U S S government's expected to shut down at 1201 a.m. Eastern on October 1st. If Congress fails to agree on or provide funding for the new fiscal year, which is expected to impact the country's financial regulators amongst federal agencies. Now neither specified their sources for the latest update on the long list of crypto ETFs in the queue. There are currently 15 ether futures ETFs from nine issuers currently awaiting approval. According to the analysts in a September 27th note, which is yesterday, companies proposing an Ethereum futures or hybrid ETF product include VanEck pro shares, grayscale volatility shares bitwise direction, as well as round Hill. The analysts gave ether future ETFs a 90% chance of launching in October with Valkyrie's ether exposure on October 3rd, quoting them here. We expect pure Ethereum futures ETFs to start trading the following week, thanks to volatility shares actions. However, we don't expect all of them to launch. So do note that now as previously reported that ether futures ETFs may be approved in October causing the 11% spike in ether prices and probably why the Ethereum dominance is up as it's been stagnant and down for quite some time. Ether prices are on the gain, currently just under $1,700 and we'll see how high we continue to pump, but do note crypto future products aren't as hotly as anticipated as their spot based alternatives. There are already been Bitcoin futures ETFs approved in the United States since 2021, which is a fact, which leads us to the million dollar question. Why have they approved a futures ETFs, but continue to deny and delay all the spot ETFs? We're going to be getting to that a little later as I share with you the highlights from Congress pressing the chairman of the SEC, Gary Gensler. It's going to get very interesting here in a little bit, but now let's dive a little deeper and discuss specifically the spot Bitcoin ETFs and what is happening and why they're being pushed back and the latest updates of where we're currently at. So here we go and welcome y'all just tuning in. Make sure to smash that like fam. The US SEC has delayed deciding whether to approve or disapprove spot Ether ETFs. And like I said, we're going to be getting in October potentially get some approvals, but in separate notices filed September 27th, the SEC said it would designate a longer period on whether to approve or disapprove these proposed changes. The commission finds it inappropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised there within. The delay came the same day as the NASDAQ market filed the proposed rule change with the SEC for listing its mix ETH basically ETF, a combination of Ether holdings and futures contracts and also proposed rule changes with the New York Stock Exchange, ARCA for the Grayscale Ethereum Futures Trust, hashtag Bitcoin Futures ETF and the CBOE BXE exchange for the Franklin Bitcoin ETF were all filed. September 27th, that's right. If you're not familiar with Franklin Templeton, there are one and a half trillion dollar asset manager. They're also applying for an ETF. Now the SEC announced September 26th, it would designate a longer period to decide on these spot ETF applications. And as James Safart shares here, here's VanEx delay as expected. So another one, I mean, exactly what we were expecting from the SEC. Now in August, ARK investment manager, founder and CEO Kathy Wood speculated that should the SEC move forward with the spot ETF approvals, it would allow multiple listings simultaneously to avoid giving any single company an advantage over another in the market. Her remarks came before Grayscale Investments won a court battle with the SEC over its spot Bitcoin ETF app, which will likely be reviewed in which they're trying to turn their GBTC product into a spot ETF. So hopefully it happens. To date, the SEC has never approved the spot crypto ETF in the United States, but has allowed the listing of crypto linked futures ETFs and a leveraged Bitcoin futures ETF. Manipulation, fam. The next deadlines for the spot crypto ETF apps from firms, which include the largest asset manager in the world, BlackRock, Wisdom Tree, Invesco, Galaxy, Valkyrie, Bitwise and Fidelity are all scheduled for October. So we'll see how this is likely to play out considering October is now only three days away. Are we going to get some ETF approvals by then? Who knows? I think more than likely they're going to push it back again. However, Congress right now is pressing Gary Gensler to approve a spot Bitcoin ETF and ETPs immediately. So now let's break this down. If you missed Gensler, he was pressed by Congress just yesterday. And I know it's on everyone's mind. So let's break down some of the highlights from this recent hearing with Congress and the chairman of the SEC, Gary Gensler. Let's break it down, shall we? Here we go. Blame for kneecapping capital markets in the U.S. and slam for dodging questions around Bitcoin and Pokemon cards. SEC chair Gensler appears to have had one hell of a grilling from Congress this week. September 27th, the U.S. SEC chief again found himself in front of lawmakers in a scheduled hearing to discuss his agency's oversight of the markets. Here are some of the highlights. First and foremost, you are the Tonya Harding of security regulations. We should create a Gary Gensler diss track, right? One of the more colorful analogies came from U.S. Representative Andy Barr, who accused Gensler of kneecapping the U.S. capital markets with regulatory red tape. Barr referred to the old testimony from Gensler where Gensler argued that the U.S. is the largest, most sophisticated and innovative capital market in the world and that shouldn't have been taken for granted as even gold medalists must keep training. With all due respect, Mr. Chairman, if the U.S. capital markets are gold medalists, you are the Tonya Harding of securities regulations. Ouch. You are kneecapping the U.S. capital markets with an avalanche of red tape coming out of your commission. Preach. Barr is presumably referring to a scandal where U.S. ice skater Tonya Harding, I'm sure you all remember the story, I was a kid when this happened, and an assailant to attack her rival Nancy Kerrigan in the lead up to the 94 U.S. Figure Skating Championships and Winter Olympics. Kerrigan ended up not competing in the U.S. Championships and here is John Dickens who shared it here. Mr. Barr to Gensler, it's hilarious, you gotta watch these clips for yourself if you haven't seen them. So the next highlight, I wish the Biden administration would say, you are fired. That's right, shout out to Warren Davidson who also ripped into Gensler saying he hoped that the Biden administration would fire him. Powerful words. Davidson accused Gensler of pushing a woke political and social agenda and abusing his role as the SEC chairman. Preach. Massive shout out to the senators here doing their job. Damn good job. The U.S. Representative added that he hopes that the SEC Stabilization Act he introduced with fellow representative Tom Emmer could make it happen. Quoting him here, you're making the case for this bill, which is the SEC Stabilization Act. Every day you're acting as a chairman, he concluded, and Gensler wasn't even given a chance to respond. Now next highlight, Gensler reiterates Bitcoin isn't a security. That's right. When asked by U.S. House Committee Financial Services Chair Patrick McHenry whether Bitcoin is a security, Gensler eventually relented stating the Bitcoin didn't meet the Howie test. Quoting him here, it does not meet the Howie test, which is the law of the land. Then McHenry suggested Bitcoin must be a commodity, which Gensler avoided answering. Mr. No Clarity Gary, hence how he got the nickname, saying the test for that is outside the scope of U.S. security laws. Mr. Gensler, we're living in a clown world with this guy. Henry also suggested that Gensler try to choke off the digital asset ecosystem facts and refuse to be transparent with Congress about the SEC's connections with the FTX and former CEO SBF facts. Gensler also wasn't given the chance to respond to the claims made by McHenry. Next highlight, are Pokemon trading card securities? Gensler says it depends. Can't make this stuff up. Quoting Representative Richie Torres, I cross-examine SEC Chair Gensler about the term investment contract, which is key to determining his authority over crypto. Gensler struggled to answer basic questions like whether an investment contract requires a contract. His evasions are defeating and damning. Suppose I was to purchase Pokemon card. Would you constitute a security for this transaction? Gensler responded, well, I don't know the context before eventually concluding it isn't a security if you purchased it in a store. And then Torres asked if I were to purchase a tokenized Pokemon card on a digital exchange via the blockchain. Is that then a transaction? And then Mr. No Clarity Gary said, I'd have to know more because I don't know anything. Yeah, you can't make this stuff up. Gensler then explained to it when it's investing the public can anticipate profits based upon the efforts of others. Then the core of the Howie test, which it is, Torres called Gensler's evasions as damning to say the least. And the next highlight, a sign of defiance. Meanwhile, amongst the back and forth cross examinations between Gensler and representatives, the eagle eyed observers noticed a Coinbase stand with crypto logo behind the SEC chairman. Isn't that interesting? The Coinbase led initiative is a 14 month long campaign that launched back in August aiming to push crypto legislation in the United States. Coinbase also ran a stand with crypto day, which took place in Washington, D.C. September 27th to advocate for better cryptocurrency innovation and policy. So again, shout out to Warren Davidson, Tom Emmer, all the senators for holding Gary Gensler accountable. Hopefully they do something about it. What's your thoughts, fam? Do you think Gary is likely to listen to them and follow their instructions and approve a Bitcoin ETF immediately? Or do you think he'll continue kicking the can down the road as long as possible until he leaves his position as the chairman of the SEC? Let me know your honest thoughts in the comments right down below. Now let's break down the latest prediction coming from crypto analyst Michael Vanay Pop for some price actions for Bitcoin for the fourth quarter, which we are currently in for 2023. Then we'll break down the latest from the Winklevoss twins and their five hundred thousand dollar Bitcoin price action as the price action of Bitcoin continues to pump, baby. Let's go. Here we go. Let's break this baby down. Crypto trader Michael Vanay Pop is expressing bullish sentiment on Bitcoin in the coming months. Despite the recent struggles in a new video, he says that Bitcoin is on the cusp of reaching levels that offer accumulation opportunities per inch. According to the analyst, the trader Bitcoin could subsequently start an uptrend. Ultimately, Bitcoin is into an area of consolidation here, which makes it very likely we're going to have to retest here at twenty five, six and twenty five eight. If we are having a recess in that region, then there is this zone where I want to start buying my entries because of the recess, which is the ultimate recess. And if we're not going to get that, the flip to twenty six thousand five hundred, that is going to be the area where I think I want to activate my positions as well. And then we can start targeting twenty eight thousand. And then we can also start targeting the higher numbers, thirty thousand dollars plus or even more in the projection of quarter four. That is going to be very positive overall. Let me know if you agree that we'll have an overall positive quarter as we about to enter October. Let's go. Vanay Pop also says Bitcoin's current price action is similar to what was witnessed in the prior pre halving year, quitting him again. As long as we stay above the 200 week exponential moving average, we most likely are going to continue to the upside. And it starts to be very comparable to the period that we witnessed in 2015 and 2016. In this case, we needed it, but we started to consolidate and start to trend up afterwards. It is very likely to this period to slowly but surely the price starts to crawl up. And then we are going to have a case of the upside in the markets overall. And to watch this video analysis, the analyst did check the show notes below the video in the description. It's entitled Bitcoin price. I am looking to buy. So there you have it. And let me know if you agree or disagree with the analysts and are you currently bullish on the King crypto or do you think we're going to dip and test the lower levels? Let me know your honest thoughts, fam. And now let's break down our next story of the day. And the Winklevoss twins on the spot, Bitcoin ETF continuously being basically denied and kicked back and pushed back for the past decade. And then we're going to dive into their half a million dollar Bitcoin price prediction and why they're so confident that the Bitcoin price is going to hit their big target. So here we go. Let's discuss them with the SEC first. This was a story which was, let's see when their tweet was actually, let's scroll down. This is Cameron Winklevoss. This was actually on July 1st, it got 1.1 million views. Now let me read the tweet. Today marks 10 years since Tyler and I filed for the first spot Bitcoin ETF. That's right. Over a decade ago, the SEC governor's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why. They protected investors from the best performing asset of the last decade. They pushed investors into toxic products like the Grayscale Bitcoin Trust, GBTC, which trades at a massive discount to NAV and charges astronomical fees. They pushed spot Bitcoin activity offshore to unlicensed and unregulated venues. They pushed investors into the arms of FTX, subjecting them to one of the largest financial frauds in modern history. Preach. Maybe the SEC will reflect on its dismal record and instead of overstepping a statutory power and trying to act like a gatekeeper of economic life, it'll focus on fulfilling its mandate of investor protection, fostering fair and orderly markets and facilitating capital formation. This would have led to much better outcomes for US investors. Preach. In the meantime, best of luck to all those fighting the good fight to bring the US spot Bitcoin ETFs to life onwards. So much respect. I mean, 10 years of denying this ETF. I mean, you can't make this stuff up. I think they shared perfectly some of the reasoning. It's to hurt the investors and keep you poor and keep you wrecked and keep you desolate and dependent upon a broken government that threw us overboard so frickin long ago. So much respect to the Winklevoss twins. If you didn't know, they're the owners of the Gemini exchange and they were the very first ever to submit the spot Bitcoin ETF app to the SEC over a decade ago. And obviously they're sick and tired of Gary Gensler, his no clarity and his shenanigans. Just like the rest of us, it's time to fire Gensler. If you think Gensler should be investigated and potentially fired, let me know in the comments right down below and I'll be reading your comments out loud here in a little bit. Now for our breaking story of the day, let's discuss the Winklevoss twins and their case for a $500,000 Bitcoin price, which they believe is coming soon. So let's break this down, shall we? And welcome to y'all just joining us in the live chat. Much love and much respect. So here we go. Winklevoss twins' prediction, Bitcoin will soon hit $500,000 per coin. And why? And again, shout out to Tyler and Cameron. Let's get, we already know their background, early Bitcoin investors, OGs, early investors as well with Facebook. Some claim that they're the real creators of Facebook and Zuckerberg stole it. But nonetheless, in a recent interview with the National News, the twins explained they remain convinced of the future of crypto. The main reason is the revolutionary and technical properties as well as the potential of Bitcoin to act as a store of value similar to gold. And in addition, crypto has many other advantages, mainly through programmability. Hence, the Winklevoss brothers believe that Bitcoin could even replace the precious metal. In the long term, Tyler Winklevoss shared the following. If you look at the properties that make gold valuable, Bitcoin matches each attribute or does better. The gold disruption story of Bitcoin is super powerful. We believe in it. Tyler Winklevoss explained his reasoning for the $500,000 Bitcoin price action, quitting him here. If you do the math, 21 million in the supply of Bitcoin, the market cap of gold, let's say it's 10 trillion, maybe it's 11 trillion, somewhere in that ballpark, that puts one Bitcoin if it disrupts gold and gets that market cap at $500,000 per coin. The two brothers did not want to give specific investment tips. However, Cameron reveals the strategy that they use, which is generally the simplest, which is simply HODL. Hold on for dear life, quitting him here. Generally speaking, if you subscribe to Bitcoin being a store of value type investment, then that strategy is HODL. The same way you would HODL gold is you buy and HODL long term investments. So according to the Winklevoss twins predicting the Bitcoin price will hit $500,000, they say predictions are difficult, but they believe that Bitcoin will hit the milestone within a decade. And when they were more recently interviewed and asked, where do you see Bitcoin in five years time? Here's what Cameron Winklevoss responded. We usually take a decade view on it. When we wrote a piece on the value that predicted it being $500,000 Bitcoin, we said within the decade. And I believe they wrote that in 2020. So they're basically saying by the year 2030, they're anticipating a $500,000 plus Bitcoin price with Bitcoin overtaking that of gold as far as the market cap. Now is that in three years from now or nine years? The timing part is hard, but I think the Bitcoin created $1 trillion worth of value in under a decade. That is fact. I believe back in November of 2021, Bitcoin's market cap surpassed a trillion dollar milestone and the total crypto market cap surpassed $3 trillion. But as of today, we're closer to a $500 billion Bitcoin market cap with the entire crypto market cap down to a trillion. Now, it also spawned many huge productions such as Ethereum and the entire asset class. He continues. If you look at the value increases in Bitcoin, it is this punctuated equilibrium where it is steady, steady, steady, and then boom, it reaches a new price level. This is the new normal. So it can happen very quickly. So there you have it, fam. Ultimately saying when Bitcoin takes off, it explodes quick and vast. And especially considering that two of the most bullish catalysts in Bitcoin history were on the cusp of. Six months away from a Bitcoin halving, we all know the Bitcoin cycles every four years, it drives the Bitcoin price up as it increases the scarcity as well as increase demand, basic stock to flow, numbers must go up. And we also have the approval of a Bitcoin ETF likely to take place in 2024, especially with Congress on Gensler's. But we also have the ETF experts such as Eric Balchunes given a 95% chance probability that a spot Bitcoin ETF likely get approved in 2024. Those two catalysts will absolutely make Bitcoin rip to new all time highs entering price discovery mode like we have never seen before. So how high do you think the Bitcoin price will likely climb by the time of this next halving? Roughly six months out, scheduled to take place sometime in April of next year. Let me know your thoughts in the comments right down below. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1415: Bitcoin Will Soon Hit $500,000 - Winklevoss Twins
"Welcome everybody to Crypto News Alerts, the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin recaptures $27 ,000 and quoting Max Keiser, the high priest of Bitcoin, Bitcoin is the North Star guiding to the only safe haven asset in the world that protects against inflation, confiscation and censorship preach. Also in today's show, Ethereum futures ETFs can start trading as early as next week. According to top Bloomberg analysts, we'll also be discussing the SEC pushing back the deadline for spot Bitcoin ETF apps, definitely not a good look. And speaking of ETF apps, I'm also going to be sharing the five highlights of Gary Gensler's evasive testimony before Congress quoting Senator Warren Davidson. Gary Gensler's tenure at the SEC highlights two key problems. Number one, Gary Gensler's problem and number two, the SEC's structural problem. That's why I introduced the SEC Stabilization Act to fire Gary Gensler and restructure the SEC. Let's freaking go. Also in today's show, crypto analyst Michal van de Poppe predicts a very positive quarter four for 2023. I'll be sharing his targets in which he outlines. We're also going to be discussing the SEC's inaction on the spot Bitcoin ETF is a complete and utter disaster, according to the Winklevoss twins. And speaking of the Winklevoss twins, I'm also going to be sharing with you their $500 ,000 Bitcoin price prediction, which they say is coming soon. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again that's cryptonewsalerts .net. Welcome everyone. This is pod episode number 1415. I'm your host JV. Today is September 28, 2023 and Bitcoin is finally back above 27 ,000 as we're pumping right when I hit the live button. We're currently above 27 ,100 up over 300 % today and we continue climbing. Welcome everyone in the live chat. I gracefully appreciate y 'all. Yeah, who knows? Maybe we'll hit 28 ,000 by the time today's live stream is over. Let's see. And make sure to let me know where you're tuning in from in that live chat as I'll be giving everyone a shout out towards the end of the show. And with that being shared, fam, now let's dive into today's market watch. As you can see here, every major crypto back in the green. Bitcoin above 27 G's. We got Ether up three and a half percent trading at $1 ,655 BNB, XRP, Cardano, you name it. And checking out coinmarketcap .com, we're currently sitting above $1 .07 trillion with about $26 billion in volume in the past 24 hours, Bitcoin dominance at 49 .1 % and even the Ether dominance on the rise today at 18 .5 % and checking out the top 100 crypto gainers of the past 24 hours, holy moly, compound up 20 % trading under 49 bucks, followed by Thor chain up 13 % trading at $1 .94, followed by Lido Dow up 8 % trading at $1 .59 and checking out the top 100 crypto gainers of the past week, massive gains, which we love to see, especially after a pretty bearish altcoin season to say the least. We got CompLead in the pack here as well up 20 % and Rune up 13 .4 % and RLB up 13 % and checking out the crypto greed and fear index, we're currently rated a 46 in fear yesterday at 44 last week, a 47 and last month, a 39 in fear. So there you have it, fam. How many of you are currently bullish on Bitcoin and how many of you took advantage of the recent dip? If so, let me know. It's good to see we pump in once again. So hopefully those positions are now in the green. Now let's break down today's Bitcoin technical analysis, check out the charts and why specifically the market is pumping right now. Here we go. Let's get it. Bitcoin hit new weekly highs after the September 28th Wall Street open as markets awaited fresh cues from the US Federal Reserve. And here you can see in the Bitcoin one hour Campbell chart, pretty freaking bullish to say the least. Data from Cointelegraph and TradingView showed Bitcoin price strength staging a comeback, having delivered what some referred to as a classic pump and dump 24 hours prior during the performance. Bitcoin hit a high of 26 .8, which appeared on Bitstamp as a result of 2 % daily gains before Bitcoin retraced all of its progress, then a slower grind higher than took hold with the bulls edging closer to 27 ,000, which we finally just recaptured here a few moments ago. Now GDP for quarter two grew by 1 .7 % year on year below the projected 2%, while the PCE index data for August came in in line with the expectations, quoting analyst Keith Allen, bring on the volatility. Now meanwhile, data from Binance's order book uploaded by Allen showed little by way of resistance standing in the way of the spot price under the 27 ,000 mark. So as you can see, just more bullishness for the king crypto, the macro data constituted just the prelude of the day's main event. Meanwhile, Jerome Powell, the chairman of the Federal Reserve due to the comment later on today, Powell, whose recent words failed to deliver noticeable volatility to the crypto markets was due to speak at the Fed's conversation with the chairman, a teacher town hall meeting event in Washington DC at 4 p .m. Eastern today. Now commenting on the state of play on Bitcoin markets, popular trader Dan crypto trades was a little more optimistic around the strength of the day's move compared to yesterday, September 27th, quoting him here back to yesterday's highs, but with considerably less open interests. No doubt there is longs chase in here, but it is less frothy than it was yesterday. Would still like to see longs chill out and not get to a full retrace later on. So there you have it. Let me know if you agree or disagree with the analysts. Meanwhile, quoting another analyst, right, capital Bitcoin is right back at the bull market support band cluster of moving averages, challenging to break out beyond them. Let's freaking go. Now, elsewhere in the day's analysis, he acknowledged that 29 ,000 could make a reappearance and still form a part of a broader come down for BTC. As he shares here, it's important to remember the Bitcoin could technically rally even as high as 29 ,000 to form a new lower high, which would be phase A and B. He explained alongside this chart. So there you have it. Let me know if you are currently more bullish or bearish on the King crypto and quoting the high priest of Bitcoin, Max Kaiser, Bitcoin is the North star guiding to the only safe haven asset in the world that protects against inflation confiscation and censorship preach. Now welcome to y 'all just joining us in today's podcast. As always, I appreciate everyone's daily support and means the world. And now let's discuss our next story of the day as Bitcoin continues to pump, shall we? We're going to be discussing the Ethereum futures ETFs, which can get approval. They say potentially as early as next week. So let's break this one down, shall we? Ether futures ETFs could start trading for the first time in the United States as early as next week. According to top Bloomberg analysts on September 28th, which is today, Bloomberg intelligence analyst, James Safart said in an ex post, it was looking like the sec is going to let a bunch of Ethereum futures ETFs go next week. Potentially. His comments were in response to fellow ETF analyst, Eric Balchunes, who said he was hearing that the U S SCC wanted to accelerate the launch of Ethereum future ETFs quitting him here. They want it off their plate before the shutdown, he said, adding that he's heard various filers updates on their documents by Friday afternoon so they can start trading as early as Tuesday next week. As outlined here on X. Now the U S S government's expected to shut down at 1201 a .m. Eastern on October 1st. If Congress fails to agree on or provide funding for the new fiscal year, which is expected to impact the country's financial regulators amongst federal agencies. Now neither specified their sources for the latest update on the long list of crypto ETFs in the queue. There are currently 15 ether futures ETFs from nine issuers currently awaiting approval. According to the analysts in a September 27th note, which is yesterday, companies proposing an Ethereum futures or hybrid ETF product include VanEck pro shares, grayscale volatility shares bitwise direction, as well as round Hill. The analysts gave ether future ETFs a 90 % chance of launching in October with Valkyrie's ether exposure on October 3rd, quoting them here. We expect pure Ethereum futures ETFs to start trading the following week, thanks to volatility shares actions. However, we don't expect all of them to launch. So do note that now as previously reported that ether futures ETFs may be approved in October causing the 11 % spike in ether prices and probably why the Ethereum dominance is up as it's been stagnant and down for quite some time. Ether prices are on the gain, currently just under $1 ,700 and we'll see how high we continue to pump, but do note crypto future products aren't as hotly as anticipated as their spot based alternatives. There are already been Bitcoin futures ETFs approved in the United States since 2021, which is a fact, which leads us to the million dollar question. Why have they approved a futures ETFs, but continue to deny and delay all the spot ETFs? We're going to be getting to that a little later as I share with you the highlights from Congress pressing the chairman of the SEC, Gary Gensler. It's going to get very interesting here in a little bit, but now let's dive a little deeper and discuss specifically the spot Bitcoin ETFs and what is happening and why they're being pushed back and the latest updates of where we're currently at. So here we go and welcome y 'all just tuning in. Make sure to smash that like fam. The US SEC has delayed deciding whether to approve or disapprove spot Ether ETFs. And like I said, we're going to be getting in October potentially get some approvals, but in separate notices filed September 27th, the SEC said it would designate a longer period on whether to approve or disapprove these proposed changes. The commission finds it inappropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised there within. The delay came the same day as the NASDAQ market filed the proposed rule change with the SEC for listing its mix ETH basically ETF, a combination of Ether holdings and futures contracts and also proposed rule changes with the New York Stock Exchange, ARCA for the Grayscale Ethereum Futures Trust, hashtag Bitcoin Futures ETF and the CBOE BXE exchange for the Franklin Bitcoin ETF were all filed. September 27th, that's right. If you're not familiar with Franklin Templeton, there are one and a half trillion dollar asset manager. They're also applying for an ETF. Now the SEC announced September 26th, it would designate a longer period to decide on these spot ETF applications. And as James Safart shares here, here's VanEx delay as expected. So another one, I mean, exactly what we were expecting from the SEC. Now in August, ARK investment manager, founder and CEO Kathy Wood speculated that should the SEC move forward with the spot ETF approvals, it would allow multiple listings simultaneously to avoid giving any single company an advantage over another in the market. Her remarks came before Grayscale Investments won a court battle with the SEC over its spot Bitcoin ETF app, which will likely be reviewed in which they're trying to turn their GBTC product into a spot ETF. So hopefully it happens. To date, the SEC has never approved the spot crypto ETF in the United States, but has allowed the listing of crypto linked futures ETFs and a leveraged Bitcoin futures ETF. Manipulation, fam. The next deadlines for the spot crypto ETF apps from firms, which include the largest asset manager in the world, BlackRock, Wisdom Tree, Invesco, Galaxy, Valkyrie, Bitwise and Fidelity are all scheduled for October. So we'll see how this is likely to play out considering October is now only three days away. Are we going to get some ETF approvals by then? Who knows? I think more than likely they're going to push it back again. However, Congress right now is pressing Gary Gensler to approve a spot Bitcoin ETF and ETPs immediately. So now let's break this down. If you missed Gensler, he was pressed by Congress just yesterday. And I know it's on everyone's mind. So let's break down some of the highlights from this recent hearing with Congress and the chairman of the SEC, Gary Gensler. Let's break it down, shall we? Here we go. Blame for kneecapping capital markets in the U .S. and slam for dodging questions around Bitcoin and Pokemon cards. SEC chair Gensler appears to have had one hell of a grilling from Congress this week. September 27th, the U .S. SEC chief again found himself in front of lawmakers in a scheduled hearing to discuss his agency's oversight of the markets. Here are some of the highlights. First and foremost, you are the Tonya Harding of security regulations. We should create a Gary Gensler diss track, right? One of the more colorful analogies came from U .S. Representative Andy Barr, who accused Gensler of kneecapping the U .S. capital markets with regulatory red tape. Barr referred to the old testimony from Gensler where Gensler argued that the U .S. is the largest, most sophisticated and innovative capital market in the world and that shouldn't have been taken for granted as even gold medalists must keep training. With all due respect, Mr. Chairman, if the U .S. capital markets are gold medalists, you are the Tonya Harding of securities regulations. Ouch. You are kneecapping the U .S. capital markets with an avalanche of red tape coming out of your commission. Preach. Barr is presumably referring to a scandal where U .S. ice skater Tonya Harding, I'm sure you all remember the story, I was a kid when this happened, and an assailant to attack her rival Nancy Kerrigan in the lead up to the 94 U .S. Figure Skating Championships and Winter Olympics. Kerrigan ended up not competing in the U .S. Championships and here is John Dickens who shared it here. Mr. Barr to Gensler, it's hilarious, you gotta watch these clips for yourself if you haven't seen them. So the next highlight, I wish the Biden administration would say, you are fired. That's right, shout out to Warren Davidson who also ripped into Gensler saying he hoped that the Biden administration would fire him. Powerful words. Davidson accused Gensler of pushing a woke political and social agenda and abusing his role as the SEC chairman. Preach. Massive shout out to the senators here doing their job. Damn good job. The U .S. Representative added that he hopes that the SEC Stabilization Act he introduced with fellow representative Tom Emmer could make it happen. Quoting him here, you're making the case for this bill, which is the SEC Stabilization Act. Every day you're acting as a chairman, he concluded, and Gensler wasn't even given a chance to respond. Now next highlight, Gensler reiterates Bitcoin isn't a security. That's right. When asked by U .S. House Committee Financial Services Chair Patrick McHenry whether Bitcoin is a security, Gensler eventually relented stating the Bitcoin didn't meet the Howie test. Quoting him here, it does not meet the Howie test, which is the law of the land. Then McHenry suggested Bitcoin must be a commodity, which Gensler avoided answering. Mr. No Clarity Gary, hence how he got the nickname, saying the test for that is outside the scope of U .S. security laws. Mr. Gensler, we're living in a clown world with this guy. Henry also suggested that Gensler try to choke off the digital asset ecosystem facts and refuse to be transparent with Congress about the SEC's connections with the FTX and former CEO SBF facts. Gensler also wasn't given the chance to respond to the claims made by McHenry. Next highlight, are Pokemon trading card securities? Gensler says it depends. Can't make this stuff up. Quoting Representative Richie Torres, I cross -examine SEC Chair Gensler about the term investment contract, which is key to determining his authority over crypto. Gensler struggled to answer basic questions like whether an investment contract requires a contract. His evasions are defeating and damning. Suppose I was to purchase Pokemon card. Would you constitute a security for this transaction? Gensler responded, well, I don't know the context before eventually concluding it isn't a security if you purchased it in a store. And then Torres asked if I were to purchase a tokenized Pokemon card on a digital exchange via the blockchain. Is that then a transaction? And then Mr. No Clarity Gary said, I'd have to know more because I don't know anything. Yeah, you can't make this stuff up. Gensler then explained to it when it's investing the public can anticipate profits based upon the efforts of others. Then the core of the Howie test, which it is, Torres called Gensler's evasions as damning to say the least. And the next highlight, a sign of defiance. Meanwhile, amongst the back and forth cross examinations between Gensler and representatives, the eagle eyed observers noticed a Coinbase stand with crypto logo behind the SEC chairman. Isn't that interesting? The Coinbase led initiative is a 14 month long campaign that launched back in August aiming to push crypto legislation in the United States. Coinbase also ran a stand with crypto day, which took place in Washington, D .C. September 27th to advocate for better cryptocurrency innovation and policy. So again, shout out to Warren Davidson, Tom Emmer, all the senators for holding Gary Gensler accountable. Hopefully they do something about it. What's your thoughts, fam? Do you think Gary is likely to listen to them and follow their instructions and approve a Bitcoin ETF immediately? Or do you think he'll continue kicking the can down the road as long as possible until he leaves his position as the chairman of the SEC? Let me know your honest thoughts in the comments right down below. Now let's break down the latest prediction coming from crypto analyst Michael Vanay Pop for some price actions for Bitcoin for the fourth quarter, which we are currently in for 2023. Then we'll break down the latest from the Winklevoss twins and their five hundred thousand dollar Bitcoin price action as the price action of Bitcoin continues to pump, baby. Let's go. Here we go. Let's break this baby down. Crypto trader Michael Vanay Pop is expressing bullish sentiment on Bitcoin in the coming months. Despite the recent struggles in a new video, he says that Bitcoin is on the cusp of reaching levels that offer accumulation opportunities per inch. According to the analyst, the trader Bitcoin could subsequently start an uptrend. Ultimately, Bitcoin is into an area of consolidation here, which makes it very likely we're going to have to retest here at twenty five, six and twenty five eight. If we are having a recess in that region, then there is this zone where I want to start buying my entries because of the recess, which is the ultimate recess. And if we're not going to get that, the flip to twenty six thousand five hundred, that is going to be the area where I think I want to activate my positions as well. And then we can start targeting twenty eight thousand. And then we can also start targeting the higher numbers, thirty thousand dollars plus or even more in the projection of quarter four. That is going to be very positive overall. Let me know if you agree that we'll have an overall positive quarter as we about to enter October. Let's go. Vanay Pop also says Bitcoin's current price action is similar to what was witnessed in the prior pre halving year, quitting him again. As long as we stay above the 200 week exponential moving average, we most likely are going to continue to the upside. And it starts to be very comparable to the period that we witnessed in 2015 and 2016. In this case, we needed it, but we started to consolidate and start to trend up afterwards. It is very likely to this period to slowly but surely the price starts to crawl up. And then we are going to have a case of the upside in the markets overall. And to watch this video analysis, the analyst did check the show notes below the video in the description. It's entitled Bitcoin price. I am looking to buy. So there you have it. And let me know if you agree or disagree with the analysts and are you currently bullish on the King crypto or do you think we're going to dip and test the lower levels? Let me know your honest thoughts, fam. And now let's break down our next story of the day. And the Winklevoss twins on the spot, Bitcoin ETF continuously being basically denied and kicked back and pushed back for the past decade. And then we're going to dive into their half a million dollar Bitcoin price prediction and why they're so confident that the Bitcoin price is going to hit their big target. So here we go. Let's discuss them with the SEC first. This was a story which was, let's see when their tweet was actually, let's scroll down. This is Cameron Winklevoss. This was actually on July 1st, it got 1 .1 million views. Now let me read the tweet. Today marks 10 years since Tyler and I filed for the first spot Bitcoin ETF. That's right. Over a decade ago, the SEC governor's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why. They protected investors from the best performing asset of the last decade. They pushed investors into toxic products like the Grayscale Bitcoin Trust, GBTC, which trades at a massive discount to NAV and charges astronomical fees. They pushed spot Bitcoin activity offshore to unlicensed and unregulated venues. They pushed investors into the arms of FTX, subjecting them to one of the largest financial frauds in modern history. Preach. Maybe the SEC will reflect on its dismal record and instead of overstepping a statutory power and trying to act like a gatekeeper of economic life, it'll focus on fulfilling its mandate of investor protection, fostering fair and orderly markets and facilitating capital formation. This would have led to much better outcomes for US investors. Preach. In the meantime, best of luck to all those fighting the good fight to bring the US spot Bitcoin ETFs to life onwards. So much respect. I mean, 10 years of denying this ETF. I mean, you can't make this stuff up. I think they shared perfectly some of the reasoning. It's to hurt the investors and keep you poor and keep you wrecked and keep you desolate and dependent upon a broken government that threw us overboard so frickin long ago. So much respect to the Winklevoss twins. If you didn't know, they're the owners of the Gemini exchange and they were the very first ever to submit the spot Bitcoin ETF app to the SEC over a decade ago. And obviously they're sick and tired of Gary Gensler, his no clarity and his shenanigans. Just like the rest of us, it's time to fire Gensler. If you think Gensler should be investigated and potentially fired, let me know in the comments right down below and I'll be reading your comments out loud here in a little bit. Now for our breaking story of the day, let's discuss the Winklevoss twins and their case for a $500 ,000 Bitcoin price, which they believe is coming soon. So let's break this down, shall we? And welcome to y 'all just joining us in the live chat. Much love and much respect. So here we go. Winklevoss twins' prediction, Bitcoin will soon hit $500 ,000 per coin. And why? And again, shout out to Tyler and Cameron. Let's get, we already know their background, early Bitcoin investors, OGs, early investors as well with Facebook. Some claim that they're the real creators of Facebook and Zuckerberg stole it. But nonetheless, in a recent interview with the National News, the twins explained they remain convinced of the future of crypto. The main reason is the revolutionary and technical properties as well as the potential of Bitcoin to act as a store of value similar to gold. And in addition, crypto has many other advantages, mainly through programmability. Hence, the Winklevoss brothers believe that Bitcoin could even replace the precious metal. In the long term, Tyler Winklevoss shared the following. If you look at the properties that make gold valuable, Bitcoin matches each attribute or does better. The gold disruption story of Bitcoin is super powerful. We believe in it. Tyler Winklevoss explained his reasoning for the $500 ,000 Bitcoin price action, quitting him here. If you do the math, 21 million in the supply of Bitcoin, the market cap of gold, let's say it's 10 trillion, maybe it's 11 trillion, somewhere in that ballpark, that puts one Bitcoin if it disrupts gold and gets that market cap at $500 ,000 per coin. The two brothers did not want to give specific investment tips. However, Cameron reveals the strategy that they use, which is generally the simplest, which is simply HODL. Hold on for dear life, quitting him here. Generally speaking, if you subscribe to Bitcoin being a store of value type investment, then that strategy is HODL. The same way you would HODL gold is you buy and HODL long term investments. So according to the Winklevoss twins predicting the Bitcoin price will hit $500 ,000, they say predictions are difficult, but they believe that Bitcoin will hit the milestone within a decade. And when they were more recently interviewed and asked, where do you see Bitcoin in five years time? Here's what Cameron Winklevoss responded. We usually take a decade view on it. When we wrote a piece on the value that predicted it being $500 ,000 Bitcoin, we said within the decade. And I believe they wrote that in 2020. So they're basically saying by the year 2030, they're anticipating a $500 ,000 plus Bitcoin price with Bitcoin overtaking that of gold as far as the market cap. Now is that in three years from now or nine years? The timing part is hard, but I think the Bitcoin created $1 trillion worth of value in under a decade. That is fact. I believe back in November of 2021, Bitcoin's market cap surpassed a trillion dollar milestone and the total crypto market cap surpassed $3 trillion. But as of today, we're closer to a $500 billion Bitcoin market cap with the entire crypto market cap down to a trillion. Now, it also spawned many huge productions such as Ethereum and the entire asset class. He continues. If you look at the value increases in Bitcoin, it is this punctuated equilibrium where it is steady, steady, steady, and then boom, it reaches a new price level. This is the new normal. So it can happen very quickly. So there you have it, fam. Ultimately saying when Bitcoin takes off, it explodes quick and vast. And especially considering that two of the most bullish catalysts in Bitcoin history were on the cusp of. Six months away from a Bitcoin halving, we all know the Bitcoin cycles every four years, it drives the Bitcoin price up as it increases the scarcity as well as increase demand, basic stock to flow, numbers must go up. And we also have the approval of a Bitcoin ETF likely to take place in 2024, especially with Congress on Gensler's. But we also have the ETF experts such as Eric Balchunes given a 95 % chance probability that a spot Bitcoin ETF likely get approved in 2024. Those two catalysts will absolutely make Bitcoin rip to new all time highs entering price discovery mode like we have never seen before. So how high do you think the Bitcoin price will likely climb by the time of this next halving? Roughly six months out, scheduled to take place sometime in April of next year. Let me know your thoughts in the comments right down below. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Tech Path Crypto
"tyler winklevoss" Discussed on Tech Path Crypto
"Now, I know what you might be looking at there may be a little confusing, but I want you to think about social media amped up to a level that has this kind of connectivity. Once it was used in XMPT, Lens protocol, and then it even had that proximity locator there of, think about at events, you know, let's just go to regular events. You know, there used to be some technologies within social that were kind of going in that direction before we got into this whole broadcast methodology behind what's happening over on X and even Facebook to a certain extent. But the point is, is that this is a whole new revolution. I think this, again, also starts to play into where the future might be going around all of this. Now, part of this is going to be a certain amount of simplicity. And of course, Ethereum is the beast in the east that everybody has to kind of consider. I want to go over and look at another clip here that talks about onboarding through Ethereum. Listen in. So first news, in the next year, all wallets, they are just going to disappear. I choose a username. I will do a cool selfie. It asked me to create a passkey. So I will do it. I will continue. I use touch ID to create it. Just put my finger. At this time, instead of generating the passkey into the device, into my laptop, I will generate in it using my mobile phone. What's happening? Instead of clicking on continue here, I click on use a different device. I will display a QR code. Scan it. The generation of the passkey is directed to my mobile phone. And instead of using a touch ID, I can use face ID. The user has an account with an NFT. All this transaction has been supported by the dApp by the application. And yeah, that's it. What you just seen is much more secure than any software wallet. And it lowers the cost to enter Web3 securely. So that's it. We sold onboarding. Thank you very much. All right. So this was at ETH Global. And I think this is a major move in the right direction because this is one of the, I would say, thresholds you have to cross, especially if you look at mainstream adoption. And when you think about mainstream adoption, the gaming sector is the behemoth. It's the one that everybody has been looking to to try to solve. And it's also one of the most challenging ones out there. If you look at this tweet from Tyler Winklevoss here, and of course, Winklevoss, his connection to Facebook, you probably have all seen the social network. This is the guy that supposedly helped Zuckerberg start it. So these guys see the future, and they really connect the dots here. And I think the dots being connected are what's happening in the gaming sector. He states here, crypto is gamer money and gaming is bigger the industry than Hollywood and music industry combined. And I would agree with that in the sense that this is why it is so important that this framework of development, what we're seeing at Meta and what we're seeing at Microsoft is going to become huge because we're not necessarily seeing these kind of things with Sony. However, there are some other players in Asia that could be breaking through that glass ceiling as well. So it's going to be an interesting, I think, scenario that plays out here when it comes to the kind of companies that are going to start developing. So I want to talk about a few tokens and a handful of projects out there that maybe you should be watching, you know, overall. If you guys are not following our YouTube channel, here's one of the projects that we've looked at for a while, and that's Red Fox. Now, they're on our MSI, which is our overall market sentiment index. But you can check out a little bit more about Red Fox. These guys are heavy into the Metaverse, so that's one to be watching for. Another one that we did was this parallel interview right here. This one is very interesting, and that's the Prime token. And we did an interview with them talking about AI and mixed reality. And remember, these guys were the ones that took a lot of forward thinking around the XR side of things, and I think this is something that is going to continue to grow. So we'll see how this plays out. But I want to go to this next clip here, because this is where parallel was actually doing something interesting. A small company, it was David versus Goliath. They were stealing the XR team from Apple, listening. AR playing around with...which, by the way, this is fantastic graphics, I must say. It appears that, you know, the trading card games are ripe for this kind of integration. What are your thoughts on how fast this could become reality within, you know, the trading card game genre? So we're really excited about it, actually. One of the earliest explorations we did was build a sort of test environment for an AR prototype of the card game. So if we do hit an area of mass adoption and people are ready to embrace it, I think we are ahead of the game in that regard. It's also worth mentioning that a couple of our team members were key elements to Apple's team building those AR glasses that everyone's talking about. And we were able to steal them away, and they've been helping us with the AR elements of our environment. So I think that we'll be ready. I was looking at, you know, a tweet from you guys. This was the Apple Vision Pro test exploration. And you're already, you know, making a lot of these kinds of advancements.
The Crypto Overnighter
"tyler winklevoss" Discussed on The Crypto Overnighter
"Feel the pop. Feel the pop. 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 Sunday, September 24th, 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 regulatory landscapes, both embraced and fought against, from Coinbase's strategic moves in Spain to the SEC and the DOJ's glaring divide. We also discuss the terra-classic community's radical decision, a legal quagmire at Fenwick & West, and the UK's troubling tryst with privacy. Finally, the CFTC's decision to shut down Cal-Shi's political prediction markets will round up tonight's discussions. Stay tuned, this episode is packed with stories that offer a panoramic view of the world of crypto governance. Coinbase just secured anti-money laundering registration from the Bank of Spain. This is a significant milestone in Coinbase's global expansion strategy, and it's a move that could have far-reaching implications for the crypto landscape in Spain and the European Union at large. The AML registration allows Coinbase to offer its full suite of products and services to both retail and institutional investors in Spain. This means Spanish citizens can now buy, sell, and trade crypto assets in euros, and they can also retain custody of their crypto assets on Coinbase. This is a big deal, especially considering that Spain is a member of the EU, which recently adopted the markets and crypto assets regulations. Spain has shown a growing interest in cryptocurrencies. A study revealed that 29% of adults in Spain believe that crypto is the future of finance. Even more intriguing, crypto has surpassed traditional bank transfers to become Spain's second most preferred payment method. Coinbase's vice president of international and business development emphasized the company's commitment to regulatory compliance. In the past year, Coinbase has obtained vast registrations in Italy, Ireland, and the Netherlands. They've also received in-principle approvals in Singapore, Brazil, and Canada. This is part of Coinbase's phase two international expansion strategy, which focuses on obtaining licenses and registrations, customizing user experiences, and establishing strategic local partnerships. But let's not forget the bigger picture here. The EU's micro regulations are set to go live in 2024. These regulations aim to provide much needed clarity for cryptocurrency operations in the EU. Coinbase's AML registration in Spain is a strategic move that aligns with these upcoming regulations, signaling the exchanges' intent to be a major player in the EU's crypto market. Coinbase's entry into Spain comes on the heels of crypto.com obtaining regulatory approval in the country. This suggests that Spain is becoming a hotbed for crypto activity, and it's a trend we should all be watching closely. Coinbase's AML registration in Spain sets a precedent for other exchanges and provides a roadmap for navigating the complex regulatory landscape in the EU. This move by Coinbase is aimed at capturing a market that's already showing a high level of crypto adoption. The fact crypto surpassed traditional bank transfers as a preferred payment method in Spain speaks volumes. The Bank of Spain's willingness to grant AML registration also signals a cautious but real acceptance of crypto, contrasting sharply with the often hostile regulatory environment in the US. This is part of a broader strategy for Coinbase, which has been securing similar approvals in other European countries. It's clear that while the US grapples with regulatory challenges, Coinbase is not waiting. They're pushing into markets that offer not just growth, but a more favorable regulatory climate. This is a calculated move to decentralize their operations and reduce dependency on any single market, a strategy that could pay off as global financial systems continue to evolve. Now, before we leap into our next story, remember to follow and get notifications to never miss an episode. Now, let's pivot. Coinbase is expanding, but the government agencies aren't following the same playbook. Speaking of which, what's the deal with the SEC and the DOJ? And this one's our cover story for tonight. John Reed Stark, a former SEC enforcement veteran, openly criticized the US Department of Justice for its lack of action in crypto-related cases. Stark's critique is a glaring spotlight on the DOJ's inaction, especially when compared to the SEC's numerous enforcement actions in the crypto space. Stark has nearly two decades of experience in the SEC Division of Enforcement. He termed the DOJ's lack of prosecutions as a quote, extraordinary dearth. He's particularly concerned about the DOJ's non-inclusion of certain individuals as defendants, contrasting this with the SEC's active role in bringing enforcement actions. Stark's comments echo the sentiment that the SEC, primarily being a civil enforcement agency, can only do so much. Without the DOJ stepping in, entities may continue to trivialize the SEC's interventions as mere operational costs. Stark points out that major crypto exchanges like Binance and Coinbase treat SEC charges as badges of honor. Tyler Winklevoss, co-founder at the Gemini Exchange, dismissed SEC allegations as quote, super lame, likening them to manufactured parking tickets. This attitude trivializes the regulatory framework, making it a mere hurdle rather than a safeguard for investors. According to a report from Semaphore, the DOJ is contemplating pressing fraud charges against Binance, but federal prosecutors are wary of the potential market instability and consumer fallout that might ensue from an indictment. They're considering alternative resolutions like fines or non-prosecution agreements. Meanwhile, the DOJ is restructuring the National Cryptocurrency Enforcement Team to handle the increasing volume of crypto-related investigations. Stark's critique comes in the wake of a high profile case involving the founder of FTX. While Sam Beckman-Fried is facing SEC enforcement actions, Stark can't fathom why SBF's parents haven't been added as defendants. He suggests that they should at least be named as relief defendants. Stark's critique raises a crucial question. Why is the DOJ so hesitant to act? The SEC, despite its limitations as a civil enforcement agency, has been proactive, but without the DOJ stepping in, these actions risk becoming mere operational costs for crypto entities. Stark's observations reflect a broader issue. The lack of criminal prosecutions creates a gap in the regulatory landscape, allowing entities to exploit the system. The DOJ's hesitance could be due to the fear of market instability, but isn't that what regulations are for, to bring stability and integrity? The restructuring of the end set suggests that the DOJ is gearing up, but is it too little too late? Stark's critique serves as a wake-up call. It's high time the DOJ stepped up its game to ensure that the crypto market is not just a playground for those willing to skirt the law. It's well past time for the DOJ to step up its game. Only the threat of DOJ prosecution can make crypto entities take enforcement seriously. Stark's comments are a glaring indictment of the DOJ's lack of initiative. It's about time someone said it. The ball is now in the DOJ's court. Will they pick it up, or will they continue to let the SEC play the game alone? Only time will tell. Now, if you're finding value in our deep dives, hit that like button. The SEC and the DOJ, two sides of the same coin, but pulling in different directions. In contrast, the Terra community is unifying for a big move.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"tyler winklevoss" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"In today's show, I'll be breaking down the latest technical analysis, as well as breaking news just in. The former SEC and Federal Reserve Bank of New York, Norman Reed, announced as the new CEO of Binance US? Like, what? Serious? We'll also be discussing the latest from Max Kaiser, who recently shared, we helped boost El Salvador's bonds 90% this year. We can help Javier Malay escape the IMF, central banking terrorist, and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. Let's go. He also says that President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy and universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukelenomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. Can't freaking wait. Also breaking news, Mark Cuban loses $870,000 worth of Ethereum in his MetaMask hot wallet with a hack. Rough. Also in today's show, Gemini legal team accuses DCG, the digital currency group of gaslighting Genesis creditors. We'll also be discussing BitGo and Swan unveil plans for a Bitcoin-only trust company. That's right, the trust company will target institutional investors in the United States as asset managers line up for the Bitcoin spot ETF. Send it. We'll also be discussing Bitcoin price all-time high will precede the 2024 halving according to this latest prediction by Bitcoin. Quitting him here, no, Bitcoin is not going to top before the halving. Yes, it is going to reach a new all-time high before the halving. No, Bitcoin is not going to 160,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250,000 per Bitcoin. I'll also be sharing the latest predictions from Max Keiser with the Bitcoin price action I recently transcribed his most recent interviews. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again, that's cryptonewsalerts.net. Welcome everyone just joining us. This is pod episode number 1403. I'm your host JV, and it is stat stacking Saturday. So let's get it. It's September 16th. So you already know we're halfway through the September before October. So let's bring it. Let's start with our market watch. As you can see here on the screen, we're back in the green. Bitcoin up a half a percent for the day trading back above 26,500. We also have Ether trading above 1600. And checking out coinmarketcap.com, we're sitting just above that trillion dollar milestone with roughly 22 billion in volume in the past 24 hours. Bitcoin dominance is 48.9%, and the Ether dominance is 18.6%. And checking out the top 100 crypto gainers of the past 24 hours, TonCoin leading the pack up 17.5% trading at $2.42, followed by ThorChain up 9.5%, trading at $1.91, followed by Flow up 8.5%, trading just above 46 cents. And checking out the top 100 crypto gainers for the past week, we have a sea of green, which is a beautiful omen for the altcoin market. We have coins such as TonFlow, Rune, and Ave all pretty up between anywhere from 8 to 13%. And yeah, so there you have it. How many of you are currently bullish on the king crypto, and how many of you are anticipating a further dip? Let me know your insights. And at the end of the show, I'll be reading everyone's comments out loud as we do each and every day in the Q &A session. Now, let's dive into some technical analysis from Glassnode, one of my favorite analytics platform. The past few days have been relatively positive for the price action for the king crypto, which has been increasing since Tuesday, September 12th. At the time, Bitcoin is sitting just above 25,600. Now in this prediction, the co-founder of the popular crypto analytics resource, Glassnode, outlined that the US CPI jumped by 0.6%, which led to some fluctuations of the Bitcoin price. And indeed, the core CPI, which excludes more volatile sectors such as food and energy by design, has noted a yearly increase of 4.3%. But interestingly, the CPI itself clocked in at 3.7%, while the estimations were for it to be 3.6%. So initially, the news didn't really have any impact on the price, which beyond the expected initial turbulence, settled at where it was trading just before that. So here's some price predictions coming from the Glassnode co-founder. He pointed out that crypto reclaimed the support above 26,000 and is now eyeing a potential break beyond 27,000. This would help it escape a multi-week range. He went on to share, risk signals nose dive into the 60s around 27,400 and 28,200. But this climb seems poised as a step before tackling the psychological barrier at $30,000. So there you have it. Let me know if you agree or disagree with the analysts. And are you currently more bullish or bearish on the King crypto for the short term? Please do let me know. And breaking news just came in before I went live. And I'm like, it's hard for me to even accept this, but this is what it says. Former SEC and Federal Reserve Bank of New York, Norman Reed, is announced as the new CEO of Binance US. You can't make this stuff up. Folks, what is the SEC doing? Now, Max Kaiser recently tweeted, I'm sure you know, there was a Tucker Carlson interview with the pro Bitcoin presidential candidate of Argentina, who's currently winning the polls for the presidency. And fantastic, almost 400 million views within the first day. Max went on to share, we help boost El Salvador's bonds 90% this year. Facts. We can help Javier Malay in Argentina escape the IMF central banking terrorists and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. So the million dollar question, do you think Max Kaiser will orange pill Javier Malay? I sure hope so. He even recently tweeted here, President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy in universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukele-nomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. And quoting El Salvador's fearless leader, Bukele, old ideas and institutions crumbled and a new generation is called on to remake the world based on the human right of financial freedom. Preach. Now, Max also shared in regards to this headline, Janet Yellen says Ukraine aid is the best boost for the global economy. Now this is hilarious and also sincere at the same time. Bitcoin monetizes war and violence by being finite and uncomfortable as this ugly, what? Illustrates money monetizes war by violence by turning humans into disposable garbage central bank Ponzi scheme. Preach Max Kaiser. Greatly appreciate all the work you're doing. You're truly doing God's work. You and Stacy's a massive shout out. Now let's discuss the latest with the hack from Mark Cuban. Now this is alarming, but at the same time, it's Meta Mass. I've been telling you guys to stay away from the Meta Mass wallet for quite some time. And also they didn't hack Bitcoin. They hacked Ethereum. I personally don't trust Ethereum or Meta Mass. So interestingly enough, so to read this story, let's break this down. Check this out. Nearly $900,000 worth of Ethereum was reportedly drained from one of the hot wallets belonging to investor in Dallas. Mavs owner, Mark Cuban, the man that once said Bitcoin has no intrinsic value and that bananas are more valuable. Yeah, right now, independent blockchain sleuth was the first to spot the hack September 15th at around 8 PM. So that was last night after they highlighted suspicious behavior. What one of Cuban's wallets that the 65 year old had an interacted with for roughly five months as he shared here on X LMAO did Mark Cuban's wallet just get drain wallet inactive for 160 days and all of the assets just moved. And according to the transaction history on Etherscan, several batches of assets such as USD coin, USDC tether, and Lido staked Ether were suddenly withdrawn from the wallet within a 10 minute window. Now adding complexity to the matter, another 2 million worth of USDC was also withdrawn and sent to a different wallet, leading Woz to suspect that Cuban may just be moving some assets around. However, a few hours later, Cuban confirm to DL news that he had gone on metamask for the first time in months and vaguely suggested that the hacker or hackers may have been watching and waiting for the moment to pounce. Cuban added that he had transferred any remaining assets to Coinbase custody, essentially confirming that the $2 million worth of USDC transaction was indeed him. But in terms of the hack, members of the community were quick to point out that the opposed to the hackers watching Cubans activity, he must have done something that led to the security breach. Some suggested that Cuban may have mistakenly signed a malicious transaction while others asserted his private keys were compromised given that the funds were directly transferred out of his wallets. What do you guys personally think chat? Please let me know in the comments below. This is not the first time Cuban has been taken a hit on the crypto market. Back in June of 2021, Cuban Lawson unspecified amount of capital on what he called a rug pull after the algo stable project called iron finance imploded amid a supposed bank run. So there you have it. Mark Cuban has a bad track record in crypto. Just pointing out the obvious fam, how many of you guys think that it was a legitimate hack? Let me know your thoughts or how many of you think he maybe have just moved it around and don't want to claim it. Who knows? I mean, there's infinite possibilities. No one really knows, but I'll be keeping you posted with the latest developments. We all know Mark Cuban is a multi-billionaire. So obviously a $900,000 loss is not going to affect him. He's not going to lose any sleep over it. But what if you were to get hacked worth of $900,000 of crypto? So again, red alert, be very careful with wallets such as MetaMask. Just saying. Now for the latest between the digital currency group in Gemini with the ongoing saga as it continues, lawyers representing Gemini Trust have pushed back against the plan proposed by DCG for the creditors of Genesis Global in the filing yesterday, September 15th in the US Bankruptcy Court for the Southern District in New York. New York, where you at? The legal team accused DCG of gaslighting Genesis creditors through contrived, misleading and inaccurate assertions and a recovery plan. Now the plan filed in Bankruptcy Court September 13th, three days ago, claimed unsecured creditors could have a 70 to 90% recovery with a meaningful portion of the recovery in digital currencies, while Gemini earned users would expect an approximately 95 to 110% recovery for their claims. This seemed like a red flag when I initially read the story. I'm like, how are they going to get back 110%? Does that make any sense? So now I'm starting to understand maybe they were gaslighting. What are your thoughts, chat? According to the legal team, DCG was attempting to bait the Gemini lenders into accepting the deal that would allow the company to pay less than it allegedly owed. Lawyers called on the firm to significantly improve the terms of the loans provided to Genesis and not use Genesis' bankruptcy proceedings to cover for justifications of the recovery plan, quoting them here, to distract the Genesis creditors from the inconvenient facts of its facially inadequate and inequitable proposal, DCG touts proposed recovery rates that are total mirage, misleading at best and deceptive at worst, said the filing yesterday, September 15th. Make no mistake, Gemini lenders will not actually receive anything close to the real value in terms of proposed recovery rates under the current agreement. In principle, so a bunch of more shenanigans, to say the least. The legal battle involved entanglements with crypto exchange Gemini and DCG over the Gemini Earn program. How many of you have lost crypto from Gemini Earn? I'm curious. Please let me know in the chat, fam. Financed in part by Genesis, Genesis halted withdrawals as we know November of 2022 in the wake of the FTX collapse, citing unprecedented market turmoil at the time and filed for bankruptcy later on in January of this year. According to the court filings by Gemini, Genesis owed more than $3.5 billion to its top 50 creditors at the time of their Chapter 11 bankruptcy filing. The crypto exchange filed the claim in May, aimed at recovering more than $1.1 billion worth of assets for roughly $232,000 Earn users and filed a lawsuit against DCG and their CEO, Barry Silber, in June alleging fraud. Barry was not the only architect and mastermind of the DCG and Genesis fraud against the creditors. He was directly and personally involved in perpetuating it, said Gemini co-founders Cameron and Tyler Winklevoss back in June. The US SEC filed a civil suit against Gemini and Genesis in January for allegedly selling unregistered securities through the Earn program. The two firms filed a motion to dismiss the case in May, but it is still ongoing at this current time. How do you think this is likely to play out? I just hope that the investors get their money back as they deserve because we all know with lawsuits, the biggest losers are always the investors. The biggest winners are the lawyers and the courts. That's just facts. So we'll see how this plays out as well. And again, they're attacking and going after all of the yield programs for crypto with Gemini Earn being a pretty large one. Why? It undermines the banks, right? If you can earn a five or 10% yield putting your cryptocurrency on their platform, it basically tells you that why would you even waste your time with fiat currency in your bank when you're losing more than the actual appreciation of interest because the interest is virtually nothing while you're losing 20% in inflation on an annual basis. It just makes no sense. So it seems if I had to guess, that's why they're attacking all of these yield programs. But what are your thoughts, chat? Please do let me know. I'm going to read those comments out in a little bit. Now let's discuss the latest with Bitcoin Trust. That's right, BitGo and Swan unveiled plans for their Bitcoin-only trust company. This is breaking news as well. The US may soon have a Bitcoin-only trust company according to plans disclosed by BitGo and Swan yesterday, September 15th. The joint venture is pending regulatory approval, the company said in the statement. Now I love the word joint venture because hey, JV, just saying. The forthcoming entity will handle similar activities of a trust company, including Bitcoin custody, administration and management on behalf of its beneficiaries. And according to Corey Clipston, CEO of Swan, the solutions intends to offer Bitcoin custody without the risk of having other altcoins under the same roof. As you know, Swan is Bitcoin-only and they're pretty much anti everything, not Bitcoin. Quoting him here, for years, we have heard from major clients, partners and other Bitcoin companies that they would prefer a Bitcoin-only software and services stack that is focused strictly on the best custody and leverages of Bitcoin's unique features. The companies are in contact with state regulators about the plans, but have yet to file regulatory approval. Clipston told Cointelegraph we're evaluating acquisition options first, he disclosed as he announced here through the Swan Bitcoin team on X. As part of our long-term vision to advance Bitcoin adoption, we're announcing a major step forward for Swan and the entire Bitcoin ecosystem. BitGo and Swan announced plans for USA's first Bitcoin-only trust company. Let's go USA. BitGo offers digital asset security and custody, supporting over 700 cryptos as per its website. And in contrast, Swan's business is fully dedicated to the king crypto, allowing users to only invest in Bitcoin via a one-time and reoccurring purchases, with custody of records held at Fortress Bank and Bakkt, while BitGo acts as a cold storage for Custodian. Now, didn't Fortress Trust just go bankrupt or get acquired by another company? Was it Ripple? You guys let me know in the chat. I know there was something major with Fortress Trust. Now, the new venture will target institutional investors such as asset managers, pension plans, and family offices, along with governments and company treasuries. It will offer cold storage, fraud prevention, anti-money laundering, and know-your-customer protocols, amongst other Bitcoin-related services. Institutional investors in the crypto space are at a fast-growing market in the US, especially as the world's largest asset managers seek regulatory approval, which includes BlackRock, the largest. For a spot Bitcoin ETF, we also have several large Wall Street players offering crypto custody solutions to institutional investors, which include the Bank of New York, Mellon, as well as Deutsche Bank, quoting them here. We believe there is a high likelihood that several ETFs are approved in 2024, and thus a new round of entrants to the Bitcoin market seeking mature, reputable, technology-proficient partners for a range of needs, explained the Swan CEO. The SEC delayed decisions on the spot Bitcoin ETF product. Analysts predict the regulatory regulator may postpone a decision until early 2024 as the deadline fast approaches, quoting them again. Our teams have worked closely together for nearly a year on stronger, qualified custody models. Early in 2023, we recognized the opportunity to establish a Bitcoin-only custodian, combining the unique capabilities of each company and supporting the innovators that will be at the forefront of pushing Bitcoin adoption, noted the CEO of BitGo. So there you have it. I am curious, by a show of hands chat, how many of you have purchased or acquired Bitcoin using Swan Bitcoin, and how many of you are familiar or ever used BitGo? Let me know in the chat. Now let's break down our next breaking story of the day, and that's the Bitcoin halving, which should be on everybody's mind, because it's only six months out, estimated to take place sometime in April of 2024. Now guess what? What if we hit a new all-time high pre-halving, because that's what this prediction suggests. Let's break this baby down, shall we? Bitcoin has a $250,000 target for after its next block subsidy halving, but a new all-time high will come sooner. Let me know if you guys agree. That is the latest Bitcoin prediction from BitQuant, the popular social media commentator who sees a rosy future for Bitcoin. In his latest post on X on September 15th, synonymous central banker and Bitcoiner revealed a pre-halving target of 69,000. That's what makes this individual interesting. He is a central banker and a Bitcoiner. I didn't even know that was a possible combination, fam, just saying, but he wrote, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all-time high before the halving. Now Bitcoin has just over six months before the halving, the event that cuts the miner rewards, as we know, per block by 50% every four years. Analysts argue that the resulting emission restrictions have a cathartic impact on the Bitcoin price performance, acting as something of a springboard in advance of Bitcoin seeing new all-time highs. But for BitQuant, the analysts, that alone is not bullish enough. Not only will Bitcoin beat its current record set in 2021, which we all know the current all-time high is 69,000, before next April, it'll go on to hit $250,000 per Bitcoin after the next halving cycle begins. That's what he says here. No, Bitcoin is not going to 160,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024, and yes, the target price is around 250,000, which is outlined right here in the chart. Let me know if you agree or disagree with this crypto analyst, BitQuant. Now, market participants are highly divided when it comes to how the Bitcoin price action will play out into the halving and beyond. Some agree that the higher levels are possible by April, but plenty of conservative voices obviously remain, especially bears, right? Last month, Bitcoin investor and author Jesse Myers dispelled any idea that Bitcoin will be trading at six figures between now and then, and in a subsequent interview, meanwhile, Philby Philby, the co-founder of Trading Suite, decent trader, gave a pre-halving Bitcoin price ceiling of 46,000, quoting him here, assuming no Black Swan event, around 35,000 by the end of the year, and possibly as high as 46,000, sometime pre-halving in quarter one of 2024. So there, you freaking have it. And as he shares here, I'm going to read you his particular post on X coming from Bitcoin. Again, this is the central banker slash Bitcoiner. He says, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all-time high before the halving. No, Bitcoin is not going to 160,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250,000 per coin. So there you have it, fam. Again, let me know if you agree or disagree with the analysts and where do you feel the Bitcoin halving, which is around the corner, is likely to take us. As you know, the two most bullish catalysts in the market, Bitcoin halving as well as spot Bitcoin ETF. I hope they both get approved and take place. We already know for certain the halving will take place, but there's a 95% chance of the spot ETF approval in the United States, according to top ETF analyst, Eric Balchunes of Bloomberg. Now for the moment you have all been waiting for, the latest from Max Kaiser. I recently transcribed, actually today, his most recent interview in Bitcoin price predictions, very powerful words to share. So let's break this down. So first and foremost, he says, the world is a very different place and everyone will say nobody saw it coming, but it is clearly been brewing now for many years. And it's like every single day you can just see the catastrophe inching toward the abyss. You know, it's we're at the zero line preach. He also says it is a global fiat money game and you see different countries where fiat money regimes are collapsing in real time, right? Facts. Argentina, you know, the countries like this or like Lebanon recently had a complete collapse or a central bank collapse. That's right. And inflation is definitely an indication that your fiat money regime is in dire straits and inflation is breaking out in a big way. It is not going to return to where it was before this latest inflation break inflation and the collapse of fiat money is here. Now people are feeling it right now. And the quality of life all over the world is being impacted by it and it's being impacted in the United States. You know, people can't buy a home. People can't afford food. The economy is starting to ramp back up again. So it's playing out right now. And there is nothing that can be done to stop this inflation because the economy is completely out of control. So even the interest on the debt in the United States is now over one trillion dollars. So I think it is the biggest line item on the budget, bigger than the military. What we were told for decades was, oh, you know, it's trickle down economics or what you have, what not. I mean, and he goes on to share with Bitcoin. It's kind of the end of price discovery because everything will be priced in Bitcoin eventually preach. Everything goes to zero against Bitcoin. And so for someone like myself, who has been following this for 40 years, finance markets, technology, Bitcoin is the holy grail. It is the end all. I would say my compatriot in all of this is the one and only Michael Saylor. When you hear Michael Saylor talk, he talks about the aesthetics of Bitcoin, the beauty of Bitcoin. And he speaks about it in a way that I think carries the torch from the Max and Stacey from 2011. He started buying it, I guess, when it was 10 or 12000 a coin or so in 2020 era. So we were from 2011 to 2020. I think he's kind of carried the torch from 2020 in a lot of ways and introduced Bitcoin to massive pools of capital. I am surprised that more companies haven't followed his lead, giving up the break in inflation we have had exactly as Michael Saylor predicted, the melting ice cube, as he called it at that time, is exactly what happened. Well, I guess we can say now we're in a new era where BlackRock and those other major institutions are now looking at Bitcoin. So his work on the institutional level, I guess, is now bearing fruit. Three years later, I see in the Middle East, they are starting to recognize Bitcoin. So that's a huge pool of capital. I think all of that oil money will find its way into Bitcoin and be a huge catalyst for the prices. It is a natural way for the oil industry to diversify their portfolio because Bitcoin is essentially energy and the energy eventually gets priced in Bitcoin. And there is a marriage between these two in a big way. So I think that's kind of the answer. I have always been fascinated by price discovery in markets and the architecture of how markets work under the hood. And Bitcoin is such a pristine, perfect money. And I think it is something that humans have been searching for since forever. And now we're seeing it change society on a really fundamental level with the introduction of Bitcoin. And a lot of people are freaking out because of it, because it destroys the status quo. And a lot of people who have been waiting for it to come along have had the faith that humanity can be saved. They see Bitcoin in those terms. So you have this split going on, which is very exciting. So it just continues on and on. And you cannot, how could you not be interested in it? I think the people who were into it earlier and just walked away just never got it from the beginning. Once it's characterized as an asset class, we have nothing to do except position ourselves in this asset class. Either we are going to be a small position or a big position, but we cannot ignore it. We cannot not have a position. Now check this out. So even 1% of that multi-hundred trillion dollar funds available moves the needle on Bitcoin and it moves it up considerably. He's referencing the 700 trillion dollar plus total addressable market. And he continues, so if we get into the 5 to 10% range, then you start to really see it raise ahead to the seven figure type predictions that people have been making, including myself, because Bitcoin is an asset class preach. And on the flip side, we have what we saw in the gold market, which is the ability to control the price discovery and manipulate the prices. It's real through the derivatives markets. So the price of gold has been lagging inflation for 20 years because the governments around the world don't like gold making their fiat money look bad. That's right. So they make it easy for the huge funds to manipulate the price of gold and to scalp it, to continuously skim profits off of gold, which is what they do almost every single day. You can watch it and see it. That's pretty clear. And they are very good at keeping the price of gold and silver down. There's something like for every ounce of silver, there's probably 50 ounces worth of derivatives floating in various exchanges around world that are used to keep the price of silver down because governments don't want gold to race ahead and draw capital out of their fiat money scam into gold. He's preaching. Now with Bitcoin, we have the ability to pull our private keys, which is not really available with gold. Technically people can take delivery of gold on these exchanges, but there has never been an organized attempt to do so. We tried to do it a few years ago with crash JP Morgan, buy gold and silver because after the 2008 financial crisis, when JP Morgan ended up buying Bear Stearns effectively for nothing, they inherited this huge multimillion short silver position that Bear Stearns was managing at the behest of presumably the government. The government likes to stay involved. And so I did some calculations and it became clear that if this short position was not covered, the price of silver could go to 60 to $70 an ounce, and it would bankrupt JP Morgan Chase. Take that Jamie Dimon. So we started this crash JP Morgan buy silver campaign, and we got the price of silver from $15 up to $50. So we got it up to $50 level. And then the Fed of course came in, they changed the laws overnight to make it possible for these banks to have and carry a much greater short position and silver. So they printed up a lot of paper, silver derivatives, and they stopped the run on their bank. And the price of silver went back down to $15 or so. So we've seen that it is possible to force capitulation in that silver market. But at the end of the day, because the ability to pull private keys is not like it is Bitcoin, I don't think it'll ever succeed. Whereas with Bitcoin, you can pull your private keys. Now, I mean, he is speaking facts right here. Warren Buffett and his own words has said, derivatives are financial weapons of mass destruction. The central bankers are using it to manipulate the markets. That's what they're doing with silver. That's what they're doing with gold and precious metals. And Max makes a great point. They don't want the gold and silver prices to rise up. It undermines the US dollar. They're trying to keep a strong dollar, right? So that's why gold has been pretty stable at like $2,000 and unable to really climb much above it. I think it's been pretty stagnant virtually for the past decade. So with the dollar inflating from them continuing to print trillions of dollars, the fact that gold isn't just continuously going up, it proves that the market is manipulated. You also got to consider as well, there is no scarce asset like Bitcoin. Bitcoin has a finite limited supply of 21 million coins. Yeah, gold may be rare or scarce, but they dump a new supply every year into the market. They can control it. They could invest more into discovering more gold. As Jack Mallers pointed out, Elon could maybe discover more gold on Mars. Who knows? Bitcoin, you can't say the same thing. Bitcoin is perfect money. It's incorruptible. It's unconfiscatable and the list goes on and on. So if you had the choice to put your wealth somewhere, what asset class would you choose to put it in? Let me know, fam. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1403: This Will Send Bitcoin to $1,000,000 - Max Keiser
"In today's show, I'll be breaking down the latest technical analysis, as well as breaking news just in. The former SEC and Federal Reserve Bank of New York, Norman Reed, announced as the new CEO of Binance US? Like, what? Serious? We'll also be discussing the latest from Max Kaiser, who recently shared, we helped boost El Salvador's bonds 90 % this year. We can help Javier Malay escape the IMF, central banking terrorist, and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. Let's go. He also says that President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy and universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukelenomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. Can't freaking wait. Also breaking news, Mark Cuban loses $870 ,000 worth of Ethereum in his MetaMask hot wallet with a hack. Rough. Also in today's show, Gemini legal team accuses DCG, the digital currency group of gaslighting Genesis creditors. We'll also be discussing BitGo and Swan unveil plans for a Bitcoin -only trust company. That's right, the trust company will target institutional investors in the United States as asset managers line up for the Bitcoin spot ETF. Send it. We'll also be discussing Bitcoin price all -time high will precede the 2024 halving according to this latest prediction by Bitcoin. Quitting him here, no, Bitcoin is not going to top before the halving. Yes, it is going to reach a new all -time high before the halving. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250 ,000 per Bitcoin. I'll also be sharing the latest predictions from Max Keiser with the Bitcoin price action I recently transcribed his most recent interviews. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1403. I'm your host JV, and it is stat stacking Saturday. So let's get it. It's September 16th. So you already know we're halfway through the September before October. So let's bring it. Let's start with our market watch. As you can see here on the screen, we're back in the green. Bitcoin up a half a percent for the day trading back above 26 ,500. We also have Ether trading above 1600. And checking out coinmarketcap .com, we're sitting just above that trillion dollar milestone with roughly 22 billion in volume in the past 24 hours. Bitcoin dominance is 48 .9%, and the Ether dominance is 18 .6%. And checking out the top 100 crypto gainers of the past 24 hours, TonCoin leading the pack up 17 .5 % trading at $2 .42, followed by ThorChain up 9 .5%, trading at $1 .91, followed by Flow up 8 .5%, trading just above 46 cents. And checking out the top 100 crypto gainers for the past week, we have a sea of green, which is a beautiful omen for the altcoin market. We have coins such as TonFlow, Rune, and Ave all pretty up between anywhere from 8 to 13%. And yeah, so there you have it. How many of you are currently bullish on the king crypto, and how many of you are anticipating a further dip? Let me know your insights. And at the end of the show, I'll be reading everyone's comments out loud as we do each and every day in the Q &A session. Now, let's dive into some technical analysis from Glassnode, one of my favorite analytics platform. The past few days have been relatively positive for the price action for the king crypto, which has been increasing since Tuesday, September 12th. At the time, Bitcoin is sitting just above 25 ,600. Now in this prediction, the co -founder of the popular crypto analytics resource, Glassnode, outlined that the US CPI jumped by 0 .6%, which led to some fluctuations of the Bitcoin price. And indeed, the core CPI, which excludes more volatile sectors such as food and energy by design, has noted a yearly increase of 4 .3%. But interestingly, the CPI itself clocked in at 3 .7%, while the estimations were for it to be 3 .6%. So initially, the news didn't really have any impact on the price, which beyond the expected initial turbulence, settled at where it was trading just before that. So here's some price predictions coming from the Glassnode co -founder. He pointed out that crypto reclaimed the support above 26 ,000 and is now eyeing a potential break beyond 27 ,000. This would help it escape a multi -week range. He went on to share, risk signals nose dive into the 60s around ,400 27 and 28 ,200. But this climb seems poised as a step before tackling the psychological barrier at $30 ,000. So there you have it. Let me know if you agree or disagree with the analysts. And are you currently more bullish or bearish on the King crypto for the short term? Please do let me know. And breaking news just came in before I went live. And I'm like, it's hard for me to even accept this, but this is what it says. Former SEC and Federal Reserve Bank of New York, Norman Reed, is announced as the new CEO of Binance US. You can't make this stuff up. Folks, what is the SEC doing? Now, Max Kaiser recently tweeted, I'm sure you know, there was a Tucker Carlson interview with the pro Bitcoin presidential candidate of Argentina, who's currently winning the polls for the presidency. And fantastic, almost 400 million views within the first day. Max went on to share, we help boost El Salvador's bonds 90 % this year. Facts. We can help Javier Malay in Argentina escape the IMF central banking terrorists and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. So the million dollar question, do you think Max Kaiser will orange pill Javier Malay? I sure hope so. He even recently tweeted here, President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy in universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukele -nomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. And quoting El Salvador's fearless leader, Bukele, old ideas and institutions crumbled and a new generation is called on to remake the world based on the human right of financial freedom. Preach. Now, Max also shared in regards to this headline, Janet Yellen says Ukraine aid is the best boost for the global economy. Now this is hilarious and also sincere at the same time. Bitcoin monetizes war and violence by being finite and uncomfortable as this ugly, what? Illustrates money monetizes war by violence by turning humans into disposable garbage central bank Ponzi scheme. Preach Max Kaiser. Greatly appreciate all the work you're doing. You're truly doing God's work. You and Stacy's a massive shout out. Now let's discuss the latest with the hack from Mark Cuban. Now this is alarming, but at the same time, it's Meta Mass. I've been telling you guys to stay away from the Meta Mass wallet for quite some time. And also they didn't hack Bitcoin. They hacked Ethereum. I personally don't trust Ethereum or Meta Mass. So interestingly enough, so to read this story, let's break this down. Check this out. Nearly $900 ,000 worth of Ethereum was reportedly drained from one of the hot wallets belonging to investor in Dallas. Mavs owner, Mark Cuban, the man that once said Bitcoin has no intrinsic value and that bananas are more valuable. Yeah, right now, independent blockchain sleuth was the first to spot the hack September 15th at around 8 PM. So that was last night after they highlighted suspicious behavior. What one of Cuban's wallets that the 65 year old had an interacted with for roughly five months as he shared here on X LMAO did Mark Cuban's wallet just get drain wallet inactive for 160 days and all of the assets just moved. And according to the transaction history on Etherscan, several batches of assets such as USD coin, USDC tether, and Lido staked Ether were suddenly withdrawn from the wallet within a 10 minute window. Now adding complexity to the matter, another 2 million worth of USDC was also withdrawn and sent to a different wallet, leading Woz to suspect that Cuban may just be moving some assets around. However, a few hours later, Cuban confirm to DL news that he had gone on metamask for the first time in months and vaguely suggested that the hacker or hackers may have been watching and waiting for the moment to pounce. Cuban added that he had transferred any remaining assets to Coinbase custody, essentially confirming that the $2 million worth of USDC transaction was indeed him. But in terms of the hack, members of the community were quick to point out that the opposed to the hackers watching Cubans activity, he must have done something that led to the security breach. Some suggested that Cuban may have mistakenly signed a malicious transaction while others asserted his private keys were compromised given that the funds were directly transferred out of his wallets. What do you guys personally think chat? Please let me know in the comments below. This is not the first time Cuban has been taken a hit on the crypto market. Back in June of 2021, Cuban Lawson unspecified amount of capital on what he called a rug pull after the algo stable project called iron finance imploded amid a supposed bank run. So there you have it. Mark Cuban has a bad track record in crypto. Just pointing out the obvious fam, how many of you guys think that it was a legitimate hack? Let me know your thoughts or how many of you think he maybe have just moved it around and don't want to claim it. Who knows? I mean, there's infinite possibilities. No one really knows, but I'll be keeping you posted with the latest developments. We all know Mark Cuban is a multi -billionaire. So obviously a $900 ,000 loss is not going to affect him. He's not going to lose any sleep over it. But what if you were to get hacked worth of $900 ,000 of crypto? So again, red alert, be very careful with wallets such as MetaMask. Just saying. Now for the latest between the digital currency group in Gemini with the ongoing saga as it continues, lawyers representing Gemini Trust have pushed back against the plan proposed by DCG for the creditors of Genesis Global in the filing yesterday, September 15th in the US Bankruptcy Court for the Southern District in New York. New York, where you at? The legal team accused DCG of gaslighting Genesis creditors through contrived, misleading and inaccurate assertions and a recovery plan. Now the plan filed in Bankruptcy Court September 13th, three days ago, claimed unsecured creditors could have a 70 to 90 % recovery with a meaningful portion of the recovery in digital currencies, while Gemini earned users would expect an approximately 95 to 110 % recovery for their claims. This seemed like a red flag when I initially read the story. I'm like, how are they going to get back 110 %? Does that make any sense? So now I'm starting to understand maybe they were gaslighting. What are your thoughts, chat? According to the legal team, DCG was attempting to bait the Gemini lenders into accepting the deal that would allow the company to pay less than it allegedly owed. Lawyers called on the firm to significantly improve the terms of the loans provided to Genesis and not use Genesis' bankruptcy proceedings to cover for justifications of the recovery plan, quoting them here, to distract the Genesis creditors from the inconvenient facts of its facially inadequate and inequitable proposal, DCG touts proposed recovery rates that are total mirage, misleading at best and deceptive at worst, said the filing yesterday, September 15th. Make no mistake, Gemini lenders will not actually receive anything close to the real value in terms of proposed recovery rates under the current agreement. In principle, so a bunch of more shenanigans, to say the least. The legal battle involved entanglements with crypto exchange Gemini and DCG over the Gemini Earn program. How many of you have lost crypto from Gemini Earn? I'm curious. Please let me know in the chat, fam. Financed in part by Genesis, Genesis halted withdrawals as we know November of 2022 in the wake of the FTX collapse, citing unprecedented market turmoil at the time and filed for bankruptcy later on in January of this year. According to the court filings by Gemini, Genesis owed more than $3 .5 billion to its top 50 creditors at the time of their Chapter 11 bankruptcy filing. The crypto exchange filed the claim in May, aimed at recovering more than $1 .1 billion worth of assets for roughly $232 ,000 Earn users and filed a lawsuit against DCG and their CEO, Barry Silber, in June alleging fraud. Barry was not the only architect and mastermind of the DCG and Genesis fraud against the creditors. He was directly and personally involved in perpetuating it, said Gemini co -founders Cameron and Tyler Winklevoss back in June. The US SEC filed a civil suit against Gemini and Genesis in January for allegedly selling unregistered securities through the Earn program. The two firms filed a motion to dismiss the case in May, but it is still ongoing at this current time. How do you think this is likely to play out? I just hope that the investors get their money back as they deserve because we all know with lawsuits, the biggest losers are always the investors. The biggest winners are the lawyers and the courts. That's just facts. So we'll see how this plays out as well. And again, they're attacking and going after all of the yield programs for crypto with Gemini Earn being a pretty large one. Why? It undermines the banks, right? If you can earn a five or 10 % yield putting your cryptocurrency on their platform, it basically tells you that why would you even waste your time with fiat currency in your bank when you're losing more than the actual appreciation of interest because the interest is virtually nothing while you're losing 20 % in inflation on an annual basis. It just makes no sense. So it seems if I had to guess, that's why they're attacking all of these yield programs. But what are your thoughts, chat? Please do let me know. I'm going to read those comments out in a little bit. Now let's discuss the latest with Bitcoin Trust. That's right, BitGo and Swan unveiled plans for their Bitcoin -only trust company. This is breaking news as well. The US may soon have a Bitcoin -only trust company according to plans disclosed by BitGo and Swan yesterday, September 15th. The joint venture is pending regulatory approval, the company said in the statement. Now I love the word joint venture because hey, JV, just saying. The forthcoming entity will handle similar activities of a trust company, including Bitcoin custody, administration and management on behalf of its beneficiaries. And according to Corey Clipston, CEO of Swan, the solutions intends to offer Bitcoin custody without the risk of having other altcoins under the same roof. As you know, Swan is Bitcoin -only and they're pretty much anti everything, not Bitcoin. Quoting him here, for years, we have heard from major clients, partners and other Bitcoin companies that they would prefer a Bitcoin -only software and services stack that is focused strictly on the best custody and leverages of Bitcoin's unique features. The companies are in contact with state regulators about the plans, but have yet to file regulatory approval. Clipston told Cointelegraph we're evaluating acquisition options first, he disclosed as he announced here through the Swan Bitcoin team on X. As part of our long -term vision to advance Bitcoin adoption, we're announcing a major step forward for Swan and the entire Bitcoin ecosystem. BitGo and Swan announced plans for USA's first Bitcoin -only trust company. Let's go USA. BitGo offers digital asset security and custody, supporting over 700 cryptos as per its website. And in contrast, Swan's business is fully dedicated to the king crypto, allowing users to only invest in Bitcoin via a one -time and reoccurring purchases, with custody of records held at Fortress Bank and Bakkt, while BitGo acts as a cold storage for Custodian. Now, didn't Fortress Trust just go bankrupt or get acquired by another company? Was it Ripple? You guys let me know in the chat. I know there was something major with Fortress Trust. Now, the new venture will target institutional investors such as asset managers, pension plans, and family offices, along with governments and company treasuries. It will offer cold storage, fraud prevention, anti -money laundering, and know -your -customer protocols, amongst other Bitcoin -related services. Institutional investors in the crypto space are at a fast -growing market in the US, especially as the world's largest asset managers seek regulatory approval, which includes BlackRock, the largest. For a spot Bitcoin ETF, we also have several large Wall Street players offering crypto custody solutions to institutional investors, which include the Bank of New York, Mellon, as well as Deutsche Bank, quoting them here. We believe there is a high likelihood that several ETFs are approved in 2024, and thus a new round of entrants to the Bitcoin market seeking mature, reputable, technology -proficient partners for a range of needs, explained the Swan CEO. The SEC delayed decisions on the spot Bitcoin ETF product. Analysts predict the regulatory regulator may postpone a decision until early 2024 as the deadline fast approaches, quoting them again. Our teams have worked closely together for nearly a year on stronger, qualified custody models. Early in 2023, we recognized the opportunity to establish a Bitcoin -only custodian, combining the unique capabilities of each company and supporting the innovators that will be at the forefront of pushing Bitcoin adoption, noted the CEO of BitGo. So there you have it. I am curious, by a show of hands chat, how many of you have purchased or acquired Bitcoin using Swan Bitcoin, and how many of you are familiar or ever used BitGo? Let me know in the chat. Now let's break down our next breaking story of the day, and that's the Bitcoin halving, which should be on everybody's mind, because it's only six months out, estimated to take place sometime in April of 2024. Now guess what? What if we hit a new all -time high pre -halving, because that's what this prediction suggests. Let's break this baby down, shall we? Bitcoin has a $250 ,000 target for after its next block subsidy halving, but a new all -time high will come sooner. Let me know if you guys agree. That is the latest Bitcoin prediction from BitQuant, the popular social media commentator who sees a rosy future for Bitcoin. In his latest post on X on September 15th, synonymous central banker and Bitcoiner revealed a pre -halving target of 69 ,000. That's what makes this individual interesting. He is a central banker and a Bitcoiner. I didn't even know that was a possible combination, fam, just saying, but he wrote, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all -time high before the halving. Now Bitcoin has just over six months before the halving, the event that cuts the miner rewards, as we know, per block by 50 % every four years. Analysts argue that the resulting emission restrictions have a cathartic impact on the Bitcoin price performance, acting as something of a springboard in advance of Bitcoin seeing new all -time highs. But for BitQuant, the analysts, that alone is not bullish enough. Not only will Bitcoin beat its current record set in 2021, which we all know the current all -time high is 69 ,000, before next April, it'll go on to hit $250 ,000 per Bitcoin after the next halving cycle begins. That's what he says here. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024, and yes, the target price is around 250 ,000, which is outlined right here in the chart. Let me know if you agree or disagree with this crypto analyst, BitQuant. Now, market participants are highly divided when it comes to how the Bitcoin price action will play out into the halving and beyond. Some agree that the higher levels are possible by April, but plenty of conservative voices obviously remain, especially bears, right? Last month, Bitcoin investor and author Jesse Myers dispelled any idea that Bitcoin will be trading at six figures between now and then, and in a subsequent interview, meanwhile, Philby Philby, the co -founder of Trading Suite, decent trader, gave a pre -halving Bitcoin price ceiling of 46 ,000, quoting him here, assuming no Black Swan event, around 35 ,000 by the end of the year, and possibly as high as 46 ,000, sometime pre -halving in quarter one of 2024. So there, you freaking have it. And as he shares here, I'm going to read you his particular post on X coming from Bitcoin. Again, this is the central banker slash Bitcoiner. He says, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all -time high before the halving. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250 ,000 per coin. So there you have it, fam. Again, let me know if you agree or disagree with the analysts and where do you feel the Bitcoin halving, which is around the corner, is likely to take us. As you know, the two most bullish catalysts in the market, Bitcoin halving as well as spot Bitcoin ETF. I hope they both get approved and take place. We already know for certain the halving will take place, but there's a 95 % chance of the spot ETF approval in the United States, according to top ETF analyst, Eric Balchunes of Bloomberg. Now for the moment you have all been waiting for, the latest from Max Kaiser. I recently transcribed, actually today, his most recent interview in Bitcoin price predictions, very powerful words to share. So let's break this down. So first and foremost, he says, the world is a very different place and everyone will say nobody saw it coming, but it is clearly been brewing now for many years. And it's like every single day you can just see the catastrophe inching toward the abyss. You know, it's we're at the zero line preach. He also says it is a global fiat money game and you see different countries where fiat money regimes are collapsing in real time, right? Facts. Argentina, you know, the countries like this or like Lebanon recently had a complete collapse or a central bank collapse. That's right. And inflation is definitely an indication that your fiat money regime is in dire straits and inflation is breaking out in a big way. It is not going to return to where it was before this latest inflation break inflation and the collapse of fiat money is here. Now people are feeling it right now. And the quality of life all over the world is being impacted by it and it's being impacted in the United States. You know, people can't buy a home. People can't afford food. The economy is starting to ramp back up again. So it's playing out right now. And there is nothing that can be done to stop this inflation because the economy is completely out of control. So even the interest on the debt in the United States is now over one trillion dollars. So I think it is the biggest line item on the budget, bigger than the military. What we were told for decades was, oh, you know, it's trickle down economics or what you have, what not. I mean, and he goes on to share with Bitcoin. It's kind of the end of price discovery because everything will be priced in Bitcoin preach. eventually Everything goes to zero against Bitcoin. And so for someone like myself, who has been following this for 40 years, finance markets, technology, Bitcoin is the holy grail. It is the end all. I would say my compatriot in all of this is the one and only Michael Saylor. When you hear Michael Saylor talk, he talks about the aesthetics of Bitcoin, the beauty of Bitcoin. And he speaks about it in a way that I think carries the torch from the Max and Stacey from 2011. He started buying it, I guess, when it was 10 or 12000 a coin or so in 2020 era. So we were from 2011 to 2020. I think he's kind of carried the torch from 2020 in a lot of ways and introduced Bitcoin to massive pools of capital. I am surprised that more companies haven't followed his lead, giving up the break in inflation we have had exactly as Michael Saylor predicted, the melting ice cube, as he called it at that time, is exactly what happened. Well, I guess we can say now we're in a new era where BlackRock and those other major institutions are now looking at Bitcoin. So his work on the institutional level, I guess, is now bearing fruit. Three years later, I see in the Middle East, they are starting to recognize Bitcoin. So that's a huge pool of capital. I think all of that oil money will find its way into Bitcoin and be a huge catalyst for the prices. It is a natural way for the oil industry to diversify their portfolio because Bitcoin is essentially energy and the energy eventually gets priced in Bitcoin. And there is a marriage between these two in a big way. So I think that's kind of the answer. I have always been fascinated by price discovery in markets and the architecture of how markets work under the hood. And Bitcoin is such a pristine, perfect money. And I think it is something that humans have been searching for since forever. And now we're seeing it change society on a really fundamental level with the introduction of Bitcoin. And a lot of people are freaking out because of it, because it destroys the status quo. And a lot of people who have been waiting for it to come along have had the faith that humanity can be saved. They see Bitcoin in those terms. So you have this split going on, which is very exciting. So it just continues on and on. And you cannot, how could you not be interested in it? I think the people who were into it earlier and just walked away just never got it from the beginning. Once it's characterized as an asset class, we have nothing to do except position ourselves in this asset class. Either we are going to be a small position or a big position, but we cannot ignore it. We cannot not have a position. Now check this out. So even 1 % of that multi -hundred trillion dollar funds available moves the needle on Bitcoin and it moves it up considerably. He's referencing the 700 trillion dollar plus total addressable market. And he continues, so if we get into the 5 to 10 % range, then you start to really see it raise ahead to the seven figure type predictions that people have been making, including myself, because Bitcoin is an asset class preach. And on the flip side, we have what we saw in the gold market, which is the ability to control the price discovery and manipulate the prices. It's real through the derivatives markets. So the price of gold has been lagging inflation for 20 years because the governments around the world don't like gold making their fiat money look bad. That's right. So they make it easy for the huge funds to manipulate the price of gold and to scalp it, to continuously skim profits off of gold, which is what they do almost every single day. You can watch it and see it. That's pretty clear. And they are very good at keeping the price of gold and silver down. There's something like for every ounce of silver, there's probably 50 ounces worth of derivatives floating in various exchanges around world that are used to keep the price of silver down because governments don't want gold to race ahead and draw capital out of their fiat money scam into gold. He's preaching. Now with Bitcoin, we have the ability to pull our private keys, which is not really available with gold. Technically people can take delivery of gold on these exchanges, but there has never been an organized attempt to do so. We tried to do it a few years ago with crash JP Morgan, buy gold and silver because after the 2008 financial crisis, when JP Morgan ended up buying Bear Stearns effectively for nothing, they inherited this huge multimillion short silver position that Bear Stearns was managing at the behest of presumably the government. The government likes to stay involved. And so I did some calculations and it became clear that if this short position was not covered, the price of silver could go to 60 to $70 an ounce, and it would bankrupt JP Morgan Chase. Take that Jamie Dimon. So we started this crash JP Morgan buy silver campaign, and we got the price of silver from $15 up to $50. So we got it up to $50 level. And then the Fed of course came in, they changed the laws overnight to make it possible for these banks to have and carry a much greater short position and silver. So they printed up a lot of paper, silver derivatives, and they stopped the run on their bank. And the price of silver went back down to $15 or so. So we've seen that it is possible to force capitulation in that silver market. But at the end of the day, because the ability to pull private keys is not like it is Bitcoin, I don't think it'll ever succeed. Whereas with Bitcoin, you can pull your private keys. Now, I mean, he is speaking facts right here. Warren Buffett and his own words has said, derivatives are financial weapons of mass destruction. The central bankers are using it to manipulate the markets. That's what they're doing with silver. That's what they're doing with gold and precious metals. And Max makes a great point. They don't want the gold and silver prices to rise up. It undermines the US dollar. They're trying to keep a strong dollar, right? So that's why gold has been pretty stable at like $2 ,000 and unable to really climb much above it. I think it's been pretty stagnant virtually for the past decade. So with the dollar inflating from them continuing to print trillions of dollars, the fact that gold isn't just continuously going up, it proves that the market is manipulated. You also got to consider as well, there is no scarce asset like Bitcoin. Bitcoin has a finite limited supply of 21 million coins. Yeah, gold may be rare or scarce, but they dump a new supply every year into the market. They can control it. They could invest more into discovering more gold. As Jack Mallers pointed out, Elon could maybe discover more gold on Mars. Who knows? Bitcoin, you can't say the same thing. Bitcoin is perfect money. It's incorruptible. It's unconfiscatable and the list goes on and on. So if you had the choice to put your wealth somewhere, what asset class would you choose to put it in? Let me know, fam. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Crypto Banter
"tyler winklevoss" Discussed on Crypto Banter
"I'm also going to show you a coin that I'm really really excited about. You can't really invest yet, but I think I just want to show you what the coin is and and and yeah. Also, a lot of people were asking on the morning call today. Why is it that yesterday's GDP numbers came out today's inflation numbers came out. The inflation is going up slightly the GDP numbers are coming up. Why is it that the markets are actually still responding and the the Nasdaq is still, you know, back in the trend almost 15,500. I'm going to explain to you very simply. You got to think about what the feds intention is for these markets. You got to think about of the Fed as a doctor. So if you go to a doctor, you said the doctor listen, I've got a problem. My heart pumps too fast, right? Doctor says, okay, cool. Listen, take some tablets. Take these this medicine take these pills. They'll slow down your heartbeat. Then when you go back to the doctor and he takes your heart rate again, he says, oh, congratulations. Your heart rate is lower. Then you celebrate and the reason why you celebrate is because the medicine is working. Now what Powell is doing to the economy now Powell is the doctor. The Fed is the doctor. They're giving the economy meds. The meds that they're giving the economy are designed to slow the heartbeat of the economy. What we're getting now is we're getting the results that the medicine is working and that the economy is slowing down. So what did we have in the last couple of days? We had the GDP numbers that came out yesterday. They grew at 2.1 percent versus 2.4 percent, which means that GDP is actually slowing down. Now, you may say hold on, but the economy is actually slowing down. Why is that a good thing? As I say, it's a good thing because the medicine that the Fed is giving the economy is to slow down the economy. They don't want the economy to grow too quickly. So what they're doing is they're giving the economy meds to slow down. The other thing that they want to slow down is they want to slow down job openings, right? They want to make sure that they want to make sure that the unemployment rate drops because the economy is moving too fast. As a result, the fact that the economy is moving too fast, too many jobs, too many people have jobs and they need a few more people to be unemployed. And that's starting to happen. Employment gains fell from 371 in July to 177, from 371 in July to 177, missing expectations by 17,000. What we're starting to see is that the average job openings per unemployed person is actually starting to decline, which means that the job numbers are actually tightening. That's why the markets continue to go up, even though the economy is weakening because the medicine is working. Now, the medicine isn't really working very well for inflation. We are having inflation go up, but we expected inflation to go up. So it's almost like the doctor knew that the inflation numbers would continue to go up and the inflation numbers are exactly where they are, where they expected them to be. So all in all, I think we can celebrate and what the NASDAQ and the Dixie are actually celebrating is they're celebrating the fact that the treatment for this patient is actually working. So Joe Consorti sums it up. He says weak job openings, GDP revised down and slowing job growth. Economic data sucks. So why are stocks ripping? Bad news is good news right now. Sour data relaxes investor fears of a hawkish Fed, igniting hopes of a relaxed policy to support asset prices. With that in mind, let's quickly just check the CME group and just see what the, whether the Fed is going to give us another dose of meds. So that we could just check here and see, is the Fed 88.5% chance that there's going to be a no rate hike this, no more rate hikes. So right now the market is betting no more rate hikes, but we've got to keep our eyes on the November meeting because there's a 40% chance of a rate hike in November. So we've got to keep eyes on that meeting. So the doctor is saying, look, if the patient continues to respond as the patient is responding, probably no more meds for the patient. But if the patient gets worse, patient's going to have to take another dose of the meds to start working. So that is why the economy is going up. And I think the next patient that needs to start taking meds is China. We spoke about that. China is very, very, very sick. And the good news is that China is starting to take their meds because Evergrande's wealth unit says we're unable to pay investors for the month. They defaulting again, that means the patient is very sick. And what is China doing? They starting to relax mortgage requirements and interest requirements and lending requirements and everything else that needs to happen. So China, that patient is also starting to take the meds. And as long as the meds work, the economy is going to celebrate. So I thought that analogy of a doctor treating a patient is probably the best, the best way to understand it. Scarecrows, what did you think? Did you like the analogy of the doctor and the patient? Oh, they love it. Okay, good. They love it. They love it. The scarecrow started talking to don't know what happened. Maybe that maybe the doctor gave them meds. It's true. Maybe the doctor gave you meds. Anyway, let's talk about Bitcoin because we have a fight. I think we've lost the first fight. So it's like we lost a bit of a battle. So what's the battle we lost? We wanted to finish August in the green, unless something happens in the next couple of hours. August is finishing minus 7%. Okay, so that's that's kind of where we are. Then, so the next fight that we have to fight is we have to close over this 200 week moving average on Sunday. If we close over the 200 week moving average on Sunday, which is 27,580, so to speak, then we've won that battle to look to get into the bullish swing of things. So that is the next fight. If you want to be cheering for a fight on Sunday, just switch on your TV, your cable network and go to this trading view chart and just cheer for the candle to close above 27,500. That's that's the number. Regardless, I agree with crypto mechanisms. I just can't be bearish after 25,200 is held twice now. It's an important level to break and hold. The monthly just looks absurdly bullish and he's looking at it on a on a on a bigger time frame. I mean, ultimately what we have to accept is that if we follow the four year halving cycle, we're going to get a flat and maybe slightly down. Before we continue to go up when the halving happens. Now, what you'll see here is that it's the same as all the other cycles. So the halving is going to happen somewhere here. So you can see somewhere here and then it's going to be up only. Now, you'll see that that exactly, exactly coincides with the ETF fight or with the ETF decisions, right? So the halving and the ETF decisions align exactly on time. The Bloomberg analysts, which which is Eric and James, I think they've both been on our show. They actually have both been on our show. They upped the odds of a 75 they upped the odds to 75 percent of Bitcoin spot ETF being launched this year and get that 95 percent that there is a Bitcoin spot ETF approved by the end of next year. And the reason why they changed this is because they're looking at the the grayscale ruling, which is a monumental ruling, because what's happening now is the courts or sorry, the SEC is losing all the weapons that it has to fight against crypto. They can't decline or they can't deny any more ETFs around market manipulation and surveillance sharing agreements because the courts rule that that's not a valid argument. Why? Because they have approved a Bitcoin futures ETF, which doesn't really affect invest or doesn't really help investors as much as a Bitcoin spot ETF, because you can see that a Bitcoin futures ETF always, always, always underperforms the Bitcoin spot. The Bitcoin spot is this blue line over here and the Bitcoin futures ETF is this turquoise line over here. The reason why that happens is a thing called contango because futures contracts keep closing and having to be reopened. So that's why it happens. It's not really important. Now, look, the fight, the fight for a Bitcoin ETF is a big fight that we've actually been fighting for a lot longer than most people have actually been around. What I saw, I saw Pump who tweeted this. He said it's been more than a decade since Cameron Tyler Winklevoss filed for the first Bitcoin ETF being over 10 years. It's not like we've just started applying for Bitcoin futures ETFs. We've been fighting for this for 10 years. I haven't been fighting this for 10 years, but there are people, our fighters have been fighting this for for 10 years. So look, now there is a delay. I mean, there is a decision that needs to be made by end of week. In all probability, the SEC, in fact, 99.9% chance that the SEC kicks the can down the road and we get into a situation where the ETF decision actually coincides with the halving. And then it looks like this chart over here starts looking at this chart over here and then we get the halving and we get the ETF decision at once and then potentially we're going to into a crazy bull market. So that's when it comes to to to the ETF decision. So I think the main thing here is when we are in this stage of the market, the smart investors are actually the ones that are accumulating it because they know that the bull market is coming around the corner. And if you are a smart investor, if you are a builder, you don't care about or you shouldn't care about the market cycle. In fact, what you should be doing is you should be accumulating. You should be making smart moves in this market cycle so that when the market cycle changes into where we want it to be, which is the uptrend after the halving, when that happens, you want to be you want to be in the pound seat. You want to have made all these amazing investments. And one investor that has been absolutely brilliant at keeping his head down and building and making sure that they accumulate all the right projects at the right time is Coinbase Ventures. So it's Brian Armstrong and Coinbase Ventures. Now, I'm sure you all know that you all know who Brian Armstrong is. He's the CEO of Coinbase. But I don't know how many of you know that Coinbase is actually one of the most successful venture investment funds in crypto. In fact, if you look at this over here, you can see that Coinbase Ventures is one of the most active investors in crypto with an average of 30 deals per quarter, more than 400 investments in 376 startups. So Coinbase is a very, very big investor. The tokens that Coinbase invest in, I mean, I'm not going to say that it happens all the time, but usually they get listed on Coinbase because that's usually why Coinbase invest in them. And Coinbase have got a great track record of actually buying some of the best tokens out there. So today, what I want to show you is I want to show you Coinbase's next 10 altcoin investments. Yeah, I'm going to show you the 10 altcoin investments that Coinbase is actually making today. And if you can get in on these coins, if you can get in on these narratives, maybe you're going to end up making money. So I know a lot of you are asking, well, where did you get this non-public information from? How dare you break non-public information? Well, the truth is it didn't come from the little birdies. The little birdies, they died in the old bear market. For those of you who remember the little birdies, they died in the bear market. They fell off the tree. It came from a vlog and blog, actually, a vlog and blog by Brian Armstrong, where he said, I'm sharing the 10 ideas that I'm most excited about right now in crypto. If you're building something in crypto or thinking about doing so, check it out. We're building lots of Coinbase, but we don't have time to tackle everything. So I figured I'd share these. These are his top 10 bear market theses. And what they're saying is I'll be hosting an inaugural Coinbase Venture Summit in Malibu, California in October. And if you are building here, then if you are building here, then if you're building any of these things, then maybe you can join the summit. In fact, if you're building anything, maybe you should join the summit. But I thought what's very important for us is to actually look at the narratives. Because I was watching this and I realized that Brian Armstrong is actually gung ho, super excited about a whole lot of narratives. And a lot of those narratives are narratives that we're actually excited about. So let's actually look at what Brian Armstrong is actually excited about. And I'm going to start off with a concept which I absolutely love. And the concept is the concept of flat coins. Now, you may ask, what is a flat coin? A flat coin is a stable coin, but not stable to the US dollar, stable to inflation. So listen to this. Let's quickly just get this over here. They're a little bit reluctant to spend it today. And so what people have done in the absence of wanting to spend a Bitcoin is they've been spending stable coins. There's a lot of fiat backed stable coins on the market. We've been doing that with our own USDC that we work with. But one of the challenges with stable coins is that they're backed by fiat. So that means they have a lot of the same inflation risks. The dollar went through pretty high inflation over the last 18 months. They also have challenges with seizure, blacklisting, the kinds of things because they're ultimately centralized. They're ultimately going to be controlled by the US government who controls the US banks and even foreign banks that are holding US dollars. And so what would it look like to have a better form of money in the crypto space? Well, it'd be something that's decentralized and maybe tracks CPI. So this is one of the big problems that people don't want to spend. As long as we're spending US dollars, we are spending government money or money that the government controls. We saw when USDC de-pigged, and he says, look, maybe a good idea is a coin that tracks CPI. Now, there is something that kind of exists like that. And that's trueflation. So trueflation have actually got two parts of their business model. One is that they are an oracle of inflation. But the reason why they created this oracle for inflation is they did it so that they could one day launch. And I think that maybe they already have launched. I'm not sure if they have, but they one day, I hope I haven't leaked anything here. Goodness. They may launch an inflation-based stablecoin. So, for example, if you took a loan from me, you would repay me the number of US dollars. Or you pay me in this new currency, and this new currency is the US dollar plus inflation. And it's not actually backed by the US dollar. So that's the first concept that Brian Armstrong talks about. He talks about a couple of other concepts. Now, I'm not going to go through all 10 because you can actually see it in this blog that he actually wrote. But let's go through some of the ones that I absolutely love. So the next one that I absolutely loved was 3 minutes 10 seconds into this video. And it is on-chain reputation. So like, how do you take a wallet? And how do you know who you're dealing with? And how do you know the reputation of the person that you're dealing with? Alright, number two. On-chain reputation. So we have ENS now, which is really awesome. But we don't always know when we're sending a payment to an ENS. You know, is this the right person? Is it a squatter on that name? Maybe where they changed one letter in the name. We don't yet have like a reputation system associated with ENS. And so we still are lacking. So next one, on-chain reputation system. Another one which I really, really liked. He's talking about on-chain ads. Imagine ads that live on-chain. Are in and they're out. I think something decentralized would probably be best. Okay, on-chain ads. Idea number three. So in Web 2, the best business model was essentially ads. And we don't want to recreate all the sins of Web 2, but it seems plausible that in Web 3, there also is going to be some kind of a business model built on, you know, how do we pay for distribution, ads, et cetera. How do we pay for attention? And there have been several attempts at this out there. But, you know, let's take a look at what happened in Web 2 and maybe what we can do even better in Web 3. So ads have kind of gone through this evolution from CPM, cost per thousand impressions, to CPC, cost per click, to CPA, cost per action, or cost per purchase, you could think. And Google, again, going back to Google, was really a pioneer here in moving from CPM to CPC. The big pitch of Google AdWords and their related products with double click and everything was, hey, you no longer have to pay just for impressions, you only pay if someone actually clicks your ad and lands on your site. That was kind of moving down the value chain and allowed advertisers to better price out these things with auction mechanics and all the stuff that they innovated on. So what if we created the same thing for on-chain stuff? We get people to do things and we reward people using crypto on-chain. And then he talks about a jobs marketplace and he said, look, what if we had a jobs marketplace which could reward people on-chain? Now, a lot of these things actually exist and you just need to know where to go. Now, the blog lives here, go and check it out because in each one of these, he actually talks about examples of certain, of course, he says, reference examples, Ampleforth, Ampleforth, Spot, Nuon, Trueflation, on-chain reputation, on-chain ads, he uses Spindle and Hypelab, on-chain capital formation. He then also talks about privacy for layer two. And what he says here, I want you to listen to this because I think this is something that is key. We've spoken about it. In fact, so much so that we've actually got a sponsor in this regard. And I actually want to show you who the sponsor is but it's important that you understand the concept of what privacy is in layer two. So let's just quickly, 13 minutes. Okay, just try and get it to 13 minutes.
Thinking Crypto News & Interviews
"tyler winklevoss" Discussed on Thinking Crypto News & Interviews
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple, or Google, please leave a five star rating and review. Well, folks, I'm sure many of you will have already heard, but Sam Bankman-Fried is going to jail. The judge has revoked his bail. So he's going to be going to jail and waiting for trial in October. The Department of Justice previously pushed to revoke Bankman-Fried's bail in late July. So the sweet music of justice is playing out here, folks. And this is obviously great news because Sam Bankman-Fried committed epic fraud, obviously taking users' funds, co-mingling it, sending it to Alameda Research where his clown friends and all these fools who didn't know what they were doing were losing money. And of course, that's not how you do business, right? Straight up fraud. And he was pretending to be crypto's golden boy, giving millions of dollars in campaign donations, spending millions in marketing and much more. He fooled a lot of people, folks like Tom Brady, some of the biggest celebrities. But, you know, justice has to play out here, folks. So the revocation has or was handed down during a Friday court hearing dedicated to deciding whether the FTX founder's bail should be pulled. Bankman-Fried will be held in custody ahead of his impending trial scheduled for October of this year. In his ruling, Judge Lewis Kaplan reportedly said there was probable cause to believe that Bankman-Fried had attempted to tamper with the witnesses and therefore violated the terms of the bail. The DOJ cited a few instances where Bankman-Fried had violated his bail with the most recent happening on July 20th. Federal prosecutors have accused Bankman-Fried of witness tampering after he allegedly attempted to discredit the former head of Alameda, Caroline Ellison, who was apparently his girlfriend as well, by leaking her diaries to The New York Times. So shady activity here from Bankman-Fried. He continues his fraudulent activity, folks, right? He's trying to throw Caroline and these other folks under the bus because he knows they've got a ton of dirt on him, but he can't take it like a man. He's got to try to, you know, game his way out of this. So however, the prosecutors didn't take issue with Bankman-Fried's communications with the press, saying he was right to speak and defend himself. But they allege that Bankman-Fried has repeatedly tried to corruptly influence witnesses and interfere with a fair trial through attempted public harassment and shaming. So great move by the judge here. Send his ass to jail and we'll see where this goes. My gut feeling has been all along, just because of this guy's connections and all the campaign donations, that he's not going to see much jail time. But I hope I'm wrong, because justice has to play out here, folks, not just because you gave campaign donations or your parents are connected to politicians. You don't get to pay for the crime that you did. You have to pay for it, right? You do the crime, you pay the time. And this guy, big time fraud, he's on the same level as a Bernie Madoff. Obviously, he committed way larger fraud with billions of dollars. But we got to keep putting the pressure on our representatives to make sure this guy sits in jail. All right. Let's move ahead. We got some big news. Gemini, the crypto exchange, which is owned by the Winklevoss twins, has officially added XRP for trading. Here's what Tyler Winklevoss had to say regarding this. XRP is now available on Gemini. It's important to note how we got here. Instead of creating clear rules for crypto, the SEC has resorted to suing everyone. It lost its case against Ripple, and a judge provided clarity when Gary Gensler wouldn't. America deserves better. Well put. And here, look, the Winklevoss twins are also in a big back and forth and fight with DCG, Digital Currency Group, and Barry Silbert. They've been suing each other. We know that the earned funds, which sit on Gemini, or which were processed through Gemini, are held in Genesis trading, and they're locked so users can get their funds. We know DCG has been having a lot of problems with Genesis trading. So here, a Gemini lawsuit is filed with misrepresentations, DCG claims, in motion to dismiss. The Gemini suit is pointing fingers at the wrong defendants, DCG claims, in the motion to dismiss. Well, to be honest, Barry Silbert and DCG don't look very good right now because they own Genesis trading, and the funds are stuck on there. It's not Tyler and Cameron and Gemini's fault. They were operating under normal pretenses, and look, they can get the funds. So that really sucks for the users, but I hope they get this resolved soon. Now folks, remember what I was saying in my last podcast, that with the SEC's attempt, not that they actually appeal, but their attempt to appeal because it has to be approved first, I told you FUD was going to follow, right? Literally the next day, August 10th, article comes out from Fortune, Ripple versus SEC, why the crypto industry may have celebrated too early. So it's coming, folks. Be prepared. You're going to see a lot of FUD articles, people trying to short crypto, people, look, even articles planted by the SEC and Gary Gensler, we know they do a lot of media pushes to push their narrative, right? Even though many of the items that Gary Gensler puts out there is false, it's lies. And that's why we have to keep exposing him. And that's why I keep calling him a scumbag regulator. He's not a good faith regulator. Now attorney John Deaton reiterated what this is, what the SEC is trying to do because there's a lot of FUD out there and a lot of lies. So John said, everyone needs to understand what this is and isn't. This is only a pre-motion letter. It's asking the judge permission to file a formal motion, asking her to allow the SEC to then ask the second court or circuit court of appeals to accept an early appeal. It's just like when I filed a pre-motion letter asking permission to file a motion to intervene. Granting the pre-motion letter does not mean she will grant the underlying motion. As in my case, I expect judge Torres to grant this motion. This will then allow her to even more fully explain her reasoning and to also further make it appeal proof. It will also allow her an opportunity to address anything Rakoff said. So talking about judge Rakoff in the Tara Luna case, who once again, people are taking what his comments on which is not really entirely focused on the Ripple lawsuit, but just a passing comment as gospel, as though that's law, but it's not. The ruling by just Torres is law. So it doesn't matter who's blowing hot air and whatever they say. So let's see how things progress, but just know the facts folks. Now, a quick word from our sponsor that is Uphold. Uphold is an amazing, great platform that I've been using since 2018. So I can vouch for this platform. I actually use it. In fact, when the Ripple lawsuit was going on, they were the only exchange to list XRP. So I was buying the XRP dips during the lawsuit when other exchanges delisted XRP. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and equities on this platform. If you'd like to learn more about Uphold, please visit the link in the description. All right, folks, let's move ahead. We got more scumbag moves by scumbag regulator, Gary Gensler. So you all may recall the SEC went after Bittrex, which is one of the crypto exchanges in the market. As a result, they had to leave the United States. They shut their doors here in the U.S. and apparently they decided to settle with the SEC, which really sucks. And I understand, look, they don't have the capital to fight the SEC. You know, it's not like Coinbase and Grayscale, but it really sucks because this gives Gary Gensler a win that he can run around and say, see, see, these guys admitted to it. But many times they just can't fight, right? It's hard to fight the government. So here's what the SEC tweeted today. We announced that crypto asset trading platform Bittrex Incorporated and its co-founder and former CEO William Shehara agreed to settle charges that they operated an unregistered national securities exchange broker and clearing agency. Now in the full statement on the SEC's website, here's an important part of this, despite everything the SEC is saying that crypto assets were offered and sold security. Here's the key note. As part of the settlement, the defendants neither admit nor deny the SEC's allegations. So obviously the SEC goes around like a mob shaking you down and they grab as much money as they can. It's not in good faith instead of providing clarity to the market. They're using regulation by enforcement, which we all know does not work. It's failing. But the silver lining is that we have some big players who are not putting up with this garbage, one being Ripple, second being Coinbase, the other being Grayscale. And I hope other players, I think Binance is going to fight as well. They have the resources, they have the capital to put up a fight against the SEC. And Gary Gensler, he's not in a good spot. Despite this Bittrex news, he's not in a good spot, folks, that Ripple defeat was a big one and it looks like Coinbase could get their victory, folks. So we'll see what happens. And I think a lot of people are also saying that Grayscale could win as well. Now, speaking of the industry going after the SEC, here we have Rodrigo and I forgot his last name, but he's legal and policy at Paradigm. He tweeted out the following today. Today, Paradigm and A16Z Crypto filed a joint amicus brief in the SEC's case against Coinbase that demonstrates why the SEC's approach is unsupported by case law and represents a significant and problematic expansion of its regulatory authority.
Thinking Crypto News & Interviews
A highlight from FTX SAM BANKMAN-FRIED GOES TO JAIL! GEMINI XRP, SEC GARY GENSLER BITTREX & ARK BITCOIN ETF DELAY
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple, or Google, please leave a five star rating and review. Well, folks, I'm sure many of you will have already heard, but Sam Bankman -Fried is going to jail. The judge has revoked his bail. So he's going to be going to jail and waiting for trial in October. The Department of Justice previously pushed to revoke Bankman -Fried's bail in late July. So the sweet music of justice is playing out here, folks. And this is obviously great news because Sam Bankman -Fried committed epic fraud, obviously taking users' funds, co -mingling it, sending it to Alameda Research where his clown friends and all these fools who didn't know what they were doing were losing money. And of course, that's not how you do business, right? Straight up fraud. And he was pretending to be crypto's golden boy, giving millions of dollars in campaign donations, spending millions in marketing and much more. He fooled a lot of people, folks like Tom Brady, some of the biggest celebrities. But, you know, justice has to play out here, folks. So the revocation has or was handed down during a Friday court hearing dedicated to deciding whether the FTX founder's bail should be pulled. Bankman -Fried will be held in custody ahead of his impending trial scheduled for October of this year. In his ruling, Judge Lewis Kaplan reportedly said there was probable cause to believe that Bankman -Fried had attempted to tamper with the witnesses and therefore violated the terms of the bail. The DOJ cited a few instances where Bankman -Fried had violated his bail with the most recent happening on July 20th. Federal prosecutors have accused Bankman -Fried of witness tampering after he allegedly attempted to discredit the former head of Alameda, Caroline Ellison, who was apparently his girlfriend as well, by leaking her diaries to The New York Times. So activity shady here from Bankman -Fried. He continues his fraudulent activity, folks, right? He's trying to throw Caroline and these other folks under the bus because he knows they've got a ton of dirt on him, but he can't take it like a man. He's got to try to, you know, game his way out of this. So however, the prosecutors didn't take issue with Bankman -Fried's communications with the press, saying he was right to speak and defend himself. But they allege that Bankman -Fried has repeatedly tried to corruptly influence witnesses and interfere with a fair trial through attempted public harassment and shaming. So great move by the judge here. Send his ass to jail and we'll see where this goes. My gut feeling has been all along, just because of this guy's connections and all the campaign donations, that he's not going to see much jail time. But I hope I'm wrong, because justice has to play out here, folks, not just because you gave campaign donations or your parents are connected to politicians. You don't get to pay for the crime that you did. You have to pay for it, right? You do the crime, you pay the time. And this guy, big time fraud, he's on the same level as a Bernie Madoff. Obviously, he committed way larger fraud with billions of dollars. But we got to keep putting the pressure on our representatives to make sure this guy sits in jail. All right. Let's move ahead. We got some big news. Gemini, the crypto exchange, which is owned by the Winklevoss twins, has officially added XRP for trading. Here's what Tyler Winklevoss had to say regarding this. XRP is now available on Gemini. It's important to note how we got here. Instead of creating clear rules for crypto, the SEC has resorted to suing everyone. It lost its case against Ripple, and a judge provided clarity when Gary Gensler wouldn't. America deserves better. Well put. And here, look, the Winklevoss twins are also in a big back and forth and fight with DCG, Digital Currency Group, and Barry Silbert. They've been suing each other. We know that the earned funds, which sit on Gemini, or which were processed through Gemini, are held in Genesis trading, and they're locked so users can get their funds. We know DCG has been having a lot of problems with Genesis trading. So here, a Gemini lawsuit is filed with misrepresentations, DCG claims, in motion to dismiss. The Gemini suit is pointing fingers at the wrong defendants, DCG claims, in the motion to dismiss. Well, to be honest, Barry Silbert and DCG don't look very good right now because they own Genesis trading, and the funds are stuck on there. It's not Tyler and Cameron and Gemini's fault. They were operating under normal pretenses, and look, they can get the funds. So that really sucks for the users, but I hope they get this resolved soon. Now folks, remember what I was saying in my last podcast, that with the SEC's attempt, not that they actually appeal, but their attempt to appeal because it has to be approved first, I told you FUD was going to follow, right? Literally the next day, August 10th, article comes out from Fortune, Ripple versus SEC, why the crypto industry may have celebrated too early. So it's coming, folks. Be prepared. You're going to see a lot of FUD articles, people trying to short crypto, people, look, even articles planted by the SEC and Gary Gensler, we know they do a lot of media pushes to push their narrative, right? Even though many of the items that Gary Gensler puts out there is false, it's lies. And that's why we have to keep exposing him. And that's why I keep calling him a scumbag regulator. He's not a good faith regulator. Now attorney John Deaton reiterated what this is, what the SEC is trying to do because there's a lot of FUD out there and a lot of lies. So John said, everyone needs to understand what this is and isn't. This is only a pre -motion letter. It's asking the judge permission to file a formal motion, asking her to allow the SEC to then ask the second court or circuit court of appeals to accept an early appeal. It's just like when I filed a pre -motion letter asking permission to file a motion to intervene. Granting the pre -motion letter does not mean she will grant the underlying motion. As in my case, I expect judge Torres to grant this motion. This will then allow her to even more fully explain her reasoning and to also further make it appeal proof. It will also allow her an opportunity to address anything Rakoff said. So talking about judge Rakoff in the Tara Luna case, who once again, people are taking what his comments on which is not really entirely focused on the Ripple lawsuit, but just a passing comment as gospel, as though that's law, but it's not. The ruling by just Torres is law. So it doesn't matter who's blowing hot air and whatever they say. So let's see how things progress, but just know the facts folks. Now, a quick word from our sponsor that is Uphold. Uphold is an amazing, great platform that I've been using since 2018. So I can vouch for this platform. I actually use it. In fact, when the Ripple lawsuit was going on, they were the only exchange to list XRP. So I was buying the XRP dips during the lawsuit when other exchanges delisted XRP. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and equities on this platform. If you'd like to learn more about Uphold, please visit the link in the description. All right, folks, let's move ahead. We got more scumbag moves by scumbag regulator, Gary Gensler. So you all may recall the SEC went after Bittrex, which is one of the crypto exchanges in the market. As a result, they had to leave the United States. They shut their doors here in the U .S. and apparently they decided to settle with the SEC, which really sucks. And I understand, look, they don't have the capital to fight the SEC. You know, it's not like Coinbase and Grayscale, but it really sucks because this gives Gary Gensler a win that he can run around and say, see, see, these guys admitted to it. But many times they just can't fight, right? It's hard to fight the government. So here's what the SEC tweeted today. We announced that crypto asset trading platform Bittrex Incorporated and its co -founder and former CEO William Shehara agreed to settle charges that they operated an unregistered national securities exchange broker and clearing agency. Now in the full statement on the SEC's website, here's an important part of this, despite everything the SEC is saying that crypto assets were offered and sold security. Here's the key note. As part of the settlement, the defendants neither admit nor deny the SEC's allegations. So obviously the SEC goes around like a mob shaking you down and they grab as much money as they can. It's not in good faith instead of providing clarity to the market. They're using regulation by enforcement, which we all know does not work. It's failing. But the silver lining is that we have some big players who are not putting up with this garbage, one being Ripple, second being Coinbase, the other being Grayscale. And I hope other players, I think Binance is going to fight as well. They have the resources, they have the capital to put up a fight against the SEC. And Gary Gensler, he's not in a good spot. Despite this Bittrex news, he's not in a good spot, folks, that Ripple defeat was a big one and it looks like Coinbase could get their victory, folks. So we'll see what happens. And I think a lot of people are also saying that Grayscale could win as well. Now, speaking of the industry going after the SEC, here we have Rodrigo and I forgot his last name, but he's legal and policy at Paradigm. He tweeted out the following today. Today, Paradigm and A16Z Crypto filed a joint amicus brief in the SEC's case against Coinbase that demonstrates why the SEC's approach is unsupported by case law and represents a significant and problematic expansion of its regulatory authority.
What Bitcoin Did
"tyler winklevoss" Discussed on What Bitcoin Did
"And with the massive rise in food inflation, people are, there are people really struggling. Yeah. And, you know, we've had Larry Finn come out and say, Bitcoin is hope. But without wanting to sound too cringey, the football team for me is a kind of hope thing. Yeah. Because I was talking to... No, I watched Ted Lasso. I'm like, I get it. I've got a couple of conversations we had yesterday I can refer to. Firstly, is that, so I'm reached out to the mayor of Bedford. That's cool. Because we need a training center where we've got multiple pitches and people can train. To be competitive. Yeah. Yeah. And so I reached out to him and he's put me in touch with his head of economic growth in Bedford. And they said, look, we haven't got any money. You just have to know. It's like, great. Well, the one thing I don't need is money from you. Yeah. I've got a community I can go to for that. But my pitch to them, I'm meeting them on the Friday when I get back from Argentina. My pitch to them is, Bedford is a nothing town in the middle of the UK. It has nothing to draw people to it. It is just another town where we have a town center and some, you know, maybe some successful local business men and some sports people have done okay. But we're a nothing town. There's no reason for anyone in the world to give a fuck about Bedford. But we have a paradigm change in money now. Called Bitcoin. It is a technical and financial revolution. And I'm going to make Bedford the center of Bitcoin in Europe. I'm going to make it the Nashville of Europe. I don't, I'm not asking your permission. I'm going to do this. We had 150 people come last year. They came to an event. They stayed at the hotels. They spent money in the pubs, yadda yadda. Well, I'm going to have a thousand come in April. And I'm going to do my version of Bitcoin Park. And it's going to be the center of the UK. I'm going to make it the center of Europe. And that, coupled with the football team, which is sponsored by Cameron and Tyler Winklevoss, who are Olympic rowers, who have a film about them. Okay. A sponsor in it. And now people are looking at Bedford. I, we went to an event yesterday at Bitcoin Park. Three people have real Bedford shirts on. We went to the event in Miami. People were in t-shirts that just say Bedford, like literally say Bedford. I said, you've got a gift here as Bedford. You've got something that's come out of nowhere. And we've also got all this soap. We've got massive solar farm in Bedford. I think I have 50% of the energy being curtailed. Great. Let's put a mining rig there. Now you've got revenue. You said you've got no money. We've got revenue. So yeah, I'm building my project and I'm going for it with that. The other conversation I want to refer to is the one with Odell. So I say to Odell, you should have me on your podcast. You never had me on. It's like, what have you done? I was like, well, you've been right about, I was like, well, I said, I stood up and said, no one would use or care about X-Bubs and 99% of people won't. And I think people are coming around to that. It's like, you should care. I was like, yeah, I should, but no one will. I was like, no one's going to run a node. They're certainly not going to run a lightning node. Like I've constantly pushed back on that because that is a reality. Whatever you say, it's a reality. Now people might make nodes easier. I get it. Fine. It might be put into your router fine. But I've pushed back whilst getting absolutely fucking beaten to death on these things. And I think I'm still right.
The Crypto Overnighter
"tyler winklevoss" Discussed on The Crypto Overnighter
"Crypto is not going away. The future of finance is digital, and those who fail to adapt will be left behind. Next on our agenda is a strange alliance that could shake up the crypto world. A banking group is rallying behind a critic of cryptocurrencies. That's a plot worthy of a Hollywood movie. So sit tight because this one's got everything. Drama, suspense, and a little bit of mystery. The Bank Policy Institute is a United States banking advocacy group. They've thrown their support behind a bill reintroduced by Senator Elizabeth Warren. Warren is known to be a critic of cryptocurrencies, and this bill, known as the Digital Asset Anti -Money Laundering Act, is aimed at bringing digital assets under a specific set of anti -money laundering laws. The BPI support for the bill is rooted in its belief that including digital assets in the AML framework is essential for safeguarding the United States financial system. The bill is also backed by Senators Joe Manchin, Roger Marshall, and Lindsey Graham, something of a bipartisan effort. It demands more transparency in digital asset transactions to combat money laundering and terrorism financing. BPI has highlighted that the existing AML framework in the US does not account for digital assets. The proposed bill will require digital asset wallet providers, miners, and anybody else that validates and secures transactions on a blockchain. They're going to have to keep records of their customers' identities. The legislation would also prohibit financial institutions from using digital asset mixers, such as tornado cash, because they are designed to hide blockchain data. The bill has attracted support from other entities as well, including the Massachusetts Banker Association, the National Consumer Law Center, and the National Consumers League. However, it has drawn sharp criticism from some quarters of the crypto community. Tyler Winklevoss, co -founder of the crypto exchange Gemini, took to Twitter to express his opposition to the bill. He suggested that those against the bill are doing the right thing. Warren initially introduced the bill to the US Senate in December 2022, arguing that the current AML laws do not cover most of the crypto industry.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"tyler winklevoss" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Today is a historic day for crypto. Bitcoin just hit again. A new 2023, all -time high price. Let's go. Also breaking news, US Attorney's Office announces criminal fraud charges against Alex Mashinsky. That's right, he has been arrested and Celsius Network has been fined $4 .7 billion by the FTC. Max Keiser's response, Mashinsky was circling El Salvador but couldn't get past our legal system that keeps all unregistered -ish coins out. Also breaking news, Europe's first spot Bitcoin ETF eyes a 2023 debut after a year -long delay. As well as breaking news everyone's talking about right now, Ripple wins the case against the SEC as Judge Torres rules XRP is not a security. Quoting Tyler Winklevoss, the Ripple ruling today decimates the SEC government's case against Coinbase. Have fun with that one, Gary Gensler. And Tyler Winklevoss responded, the SEC and Gary Gensler claimed that 80 -year -old security laws apply to crypto, a judge today said they do not. Adios, Gary. Also in today's show, billionaire venture capitalist Tim Draper doubles down on his $250 ,000 Bitcoin price prediction, updating his target date and says that bureaucracy is holding Bitcoin down. Also be sharing Max Keiser's $1 million Bitcoin price prediction and we'll also be taking a look at the overall crypto market. All this, plus so much more in today's show. Hey, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience, visit our YouTube channel at CryptoNewsAlerts
Thinking Crypto News & Interviews
"tyler winklevoss" Discussed on Thinking Crypto News & Interviews
"It's just been a lot of confusion. Now, here's what Tyler Winklevoss had to say regarding Gemini and their expansion to other parts of the world, specifically here in Hong Kong. Tyler said Hong Kong is ready to lead in crypto. Had a great meeting with the SFC, Hong Kong's regulator for crypto during Gemini's world tour, very encouraged with their thoughtful and clear approach. Many IMP industry players in making Hong Kong home and a vibrant ecosystem is developing here. Exciting. And he posted a photo of him and his brother, his twin brother, of course, and with some other members or folks in Hong Kong. So, guys, Hong Kong is controlled by China. China is doing a 180 on crypto. And I think they recognize the US is dropping the ball right now. So they're going to, you know, open their doors. They've already opened up retail trading. They've opened up financial services and banking. They put out a white paper and all these things. And here a lot of funds, exchanges and crypto companies are moving to these other jurisdictions. Here, Faryad Shiraz or Shirzad, if I'm saying that right. Chief policy officer at Coinbase. He tweeted out regarding what the Tyler Winklevoss shared here. He said Hong Kong decides to adopt crypto into its financial system late last year. In under eight months, they have rules in place and a regulator committed to working constructively with the industry. The race to lead on crypto is on, even if the US government isn't paying attention. So the rest of the world is moving on. This is why I'm still bullish on crypto. I don't care what Gary Gensler does. I don't care what the headwinds we're facing right now. Yes, it sucks in a sense of it's frustrating to see that's happening here in the country I live in. But I'm bullish on the long term view of crypto because this is a global asset class. It is not dependent on the United States. And we know the game, right? We know the game, guys.
Tech Path Crypto
"tyler winklevoss" Discussed on Tech Path Crypto
"So the SEC essentially saying, well, wait a minute, we think it's greater than just crypto exchanges in general. Further in the article here, I just wanted to highlight one other item here, a couple of things. Proposal would operate as a blanket de facto banishment of DeFi from the United States. The DeFi Education Fund, a lobbying group, wrote this in the letter. And the actions, in the words of the commission, the agency personnel have created great confusion. So again, this might be a scenario where it could be IP blocking, all sorts of things that could go on within that. Further in the article, there's some other. Appears that after suing Coinbase for failing to do the impossible, registering as a securities exchange when it is incapable of doing so, the commission now intends to force DEXs into the same Hobson's choice. The definition newfound of exchange is so far reaching that it would that it would facially encompass entities that are plainly nothing like exchanges. So swaps, DEXs, etc. All of this just is a massive overreach by the SEC. This I think is one of the ones that is the most bombastic of where this is going to go in the future. All right. Couple of things right here. This was Tyler Winklevoss coming in and saying, hey, listen, row costs the Republicans the midterms, for sure. Blue Wave came in and kicked the Republicans bottom on that one. And now Senator Warren and Gary Gensler's war on crypto will cost the Dems in the 2024. I believe this is a scenario that will take place. If you've been following me on Twitter at Paul Baron, I actually tweeted about this several, I think it was a couple of weeks ago, that this essentially is the underlying effort when you look at the activity of how Senator Warren and Gensler are associated. Is there something there? I know there's a lot of speculation. And if you look at kind of the crypto Twitter out there, people are pointing at this. Washington and lawmakers move in mysterious ways.
What Bitcoin Did
"tyler winklevoss" Discussed on What Bitcoin Did
"Real swans. We have real rowers there. Yes. Well, I rode. I rode for Oxford. That was my... So I kind of ingratiated myself into UK society. Did you race the boat race? I was not. I was on Exeter College team. Oh, okay. Yeah, not in the boat race. I went to the boat race, but I did the summer sprints at Oxford, which were like the university level boat race. So I went to the boat race this year. Cameron and Tyler Winklevoss got me on the boat that follows the rowers. Yes. Whatever they call that. That was a wild experience. I appreciate didn't how hard the rowing is from the TV, but when you're following it and you're seeing the water move, how choppy it was, it's like, this is hard. Oh, it's insanely hard. It's the hardest thing I've ever done athletically. And I think rowers, I'm biased, but I think rowers are the optimal athletes, just cardio, fitness, strength. It's tough. If you're not built like Cameron and Tyler, it's tough to row for Oxford. Because I think, I forget the physics, but every inch of reach, which is height plus arm length, you give up like 40 pounds of pressure. I'm probably directionally, I'm directionally correct, but not exactly, but you give up. So if someone's like six inches taller than me and has like six inches more reach or eight inches more reach, it's a couple of hundred pounds of force that they're able to exert that I'm not. So I had to be, so I don't look at now, I'm about 175, 80 pounds now. I was 210 with almost no body. I was enormous. I used to get up and eat a chicken and lift weights because my only way to catch up, because I'm six foot if I stretch, all the guys I rode with on the senior varsity boat were six, four, six, five. And to make up those four inches, I had to be, you know, 100 pounds stronger than them on my pole. I can match you on the weight, just not the height. I'm six foot if I lie. The
Markets Daily Crypto Roundup
"tyler winklevoss" Discussed on Markets Daily Crypto Roundup
"Bitcoin, ether and the majority of crypto markets are down this morning, seeing more red than green. U.S. Federal Reserve chairman Jerome Powell, talk tough for a second consecutive day. Bitcoin absorbed it all and then inched downward to its lowest level in nearly a month. The original cryptocurrency sank below $21,600 at one point after largely teetering around $22,000 for much of the month. Investors have been wrestling with worrisome jobs and priced data that has prompted Powell and fed governors to rekindle their monetary aggressiveness as an inflation prescription. The prospect of a 50 basis point interest rate hike now rests about 70%. After heavily favoring a more dovish, 25 basis point increase in previous weeks. Quote, after celebrating disinflation green shoots the past two months, the Federal Reserve has had to restart its hawkish positioning by talking tough on rate hikes when Thompson, head of growth and capital markets at blockchain powered capital markets platform, maple, road to coin desk in an email. Continuing, I think it's interesting to note that they were parading their hikes as having substantial impact on inflation, and then it became clear that inflation has proven to be more stubborn than had been anticipated. A 50 basis point rate hike is basically inevitable now. Barring any breakage in the system such as a credit event of some sort, it seems increasingly likely that there won't be any rate cuts until next year. End quote. Moreover, the decision by crypto friendly banks silvergate to wind down operations amid the worsening macroeconomic picture has fueled digital asset investor anxiety spurring demand for derivatives that offer protection against price slides in major tokens. As of right now, the 30 day Bitcoin skew derived by looking at the difference in implied volatility and demand for cheap out of the money calls or OTM calls and OTM puts expiring in four weeks shows the strongest bias for bearish put options in over two months. In other words, that's assigned investors are worried about a deeper slide in Bitcoin price and are buying put options to hedge their long spot or futures positions or are looking to simply profit from potential bearish price action. Relatedly, crypto quant data shows that transfer volume denominated in Bitcoin is down 35% over the last 24 hours. At the same time, the total number of transactions on the Bitcoin blockchain has dropped by 17% over the same period, and the number of active addresses has fallen by 10%. So far this month, Bitcoin trading volume has come in at an average of around $25 billion, according to data from coin gecko. Versus around 36 billion dollars in the month of February. Quote, coupled with the job in the price action, we have seen a noticeable drop in trading volumes too. Across the ecosystem when news about silver Gates financial difficulties broke. Guillaume shaman, CEO of Paris based market maker and brokerage flow desk told coin desk in a note. All in all, the selling pressure on Bitcoin contributed to a broader market drop as tokens from the largest blockchains also fell as much as 6% today. Ethers led to levels well below its late February highs, among other large caps, Solana and Matic fell 6% over the past 24 hours, while uniswap and avalanche's avax fell 4% in the same period. Maple finances Thompson summed it up well, quote, I suspect that we could again test the lows that were reached last year. As a result of hiked rates, but also because of the fed's ongoing monetary policy regime that is draining liquidity out of the markets, he wrote a lot of Titan monetary policy is being priced into fixed income markets. But risk markets have yet to price in the potential for downside spillover. And this could spell trouble for equities in crypto. Today's crypto coverage comes courtesy of coin desk market analysts, Lil edema and am cargo boy. Bitcoin is currently trading at $21,653 per token. That's down 1.5% since yesterday, while ether is trading at $1536, that's down just under 1% over the same time period, according to the coin desk market index, and speaking of the coindesk market index, we're looking at an absolute value of 1016 that's down 1.3% over 24 hours across top traded tokens. And before we get into today's traditional markets update, let's take a quick look at some top headlines. First up, silvergate, a lender that helps customers move money in and out of crypto will, quote, voluntarily liquidate its assets and wind down operations. It's holding company silvergate capital set on Wednesday. The bank was under fire after announcing a week ago it would delay filing its annual ten K report. It had to liquidate much of its holdings late last year to meet customers requests for withdrawals in the aftermath of the collapse of crypto exchange FTX. Coin desks Lili desma reports. And speaking of FTX, the crypto exchanges investment arm Alameda research has struck a $45 million cash deal to sell its interest in Sequoia Capital to the Abu Dhabi sovereign wealth fund, according to court documents filed Wednesday. The deal, subject to approval by Delaware bankruptcy judge John Dorsey. It's part of the bankrupt company's attempts to sell its investments in early stage crypto and tech ventures in a bid to repay creditors. The agreement could be closed as soon as March 31st, though deals made by bankrupt companies are subject to close judicial scrutiny. The would be buyer, I'll now our investments are as he limited is ultimately owned by the government of Abu Dhabi, an already invests in Sequoia, the document said. Coin desk, Jack Schuyler reports. Relatedly, FDX proposes to introduce a $4 million bonus program to stop staff with key skills from quitting. According to court documents filed Tuesday, chief executive officer John Jay ray the third, who took charge on November 11th when the company filed for bankruptcy. Wants to offer bonuses as much as 90 4% of salary to stop those with knowledge of programming or company accounting practices from quitting. Quote, mister ray and the newly appointed executives require the knowledge and intensive support and efforts of the debtor's ongoing workforce, said the filing, continuing these remaining employees and contractors have institutional knowledge and in some cases unique and specialized skill sets that would be difficult to replace and that are critical to the debtor's objectives in these cases. Coin desks Jack Schuyler also has this one. And in more international news, a project run by interbank messaging company swift to interconnect Central Bank digital currencies or CBDCs offers quote a clear potential and value. The company said in a statement on Thursday. The project, which included banks such as BNB Paribas, intensive São Paulo and standard chartered, as well as French and Singaporean central banks, will now move on to a second phase which could look at further applications like trade finance and security settlement. Quote, while interest in CBDCs is growing, so is the risk of fragmentation as a widening range of technologies and standards as being experimented with. Louis sun, global head of domestic and emerging payments at HSBC said in a statement, adding that the project could lead to, quote, faster, cheaper, and more secure cross border payments. Coin desk Jack Schuyler also has this one. And lastly, U.S. banking giant JPMorgan is ending its banking relationship with Gemini. The cryptocurrency exchange owned by Cameron and Tyler winklevoss. According to a person familiar with the situation. Back in early 2020, JPMorgan took Gemini and U.S. listed exchange coinbase as customers The Wall Street Journal reported. Coinbase's banking relationship with JPMorgan remains intact. A spokesperson from the San Francisco based exchange confirmed. Coin desk's Ian Allison has the details. And shifting to traditional markets, global stocks came in mixed this morning as U.S. Federal Reserve chair Jerome Powell softened his tone on expectations of higher interest rate hikes yesterday, following his speech in Washington D.C.. Generally, market seemed confused and are getting mixed messages. Let's take a look at the numbers. In the U.S., the Dow Jones Industrial took a tumble losing over 2.7%. The S&P 500, meanwhile, gained two thirds of a percent while the tech heavy NASDAQ gained over 1%. In Europe, major indices were also mixed, the regional stock 600 traded relatively flat while London's FTSE 100 lost just under two thirds of a percent. Germany's Dax gained just under two tenths of a percent. In Asia, major stocks were mixed as well, Hong Kong Chang sang index lost two thirds of a percent while Mainland China Shanghai
TIME's Top Stories
"tyler winklevoss" Discussed on TIME's Top Stories
"It certainly feels like a crypto carpet bombing moment, Kristen Smith, the CEO of the blockchain association, a crypto lobbying group says, as the lawyers are analyzing this space, they're thinking really hard about whether or not the U.S. is the appropriate place to base some of these crypto activities. Federal offensive at the heart of this battle is the debate over whether cryptocurrencies should be considered securities or commodities. Securities are regulated by gensler's SEC, which has a reputation for tougher regulation than the commodities futures trading commission, CFTC, the commodities watchdog. Many crypto leaders, including FTX as Sam bankman fried when he still held power, argued that most cryptocurrencies are commodities and pushed adamantly for the CFTC to preside over their industry. Gensler, on the other hand, views most crypto products as securities. Since January, he has used this framework to charge several major crypto companies, including Gemini, genesis, and kraken, with failing to register financial products with the SEC. Those three companies offered yield programs in which investors earned interest on the money they deposited. While the companies gave the products different names from each other, gensler argues that they all were similar mechanisms that should be under his SEC preview. Gensler sent out a warning to all similar programs. This really should put everyone on notice in this marketplace he said on CNBC. Whether you call it lend yield APY, that doesn't matter. They should seek to come into compliance. Genesis imploded following the FTX crash and still owes $900 million to investors who put their money in Gemini earn. Tyler winklevoss, cofounder of Gemini, tweeted that the SEC's action was counterproductive towards helping users get their money back. And called the complaint, a manufactured parking ticket. Gensler is targeting a yield programs comes a year after one of these products played a major role in the collapse of the entire crypto market. Last year, a crypto protocol called anchor, promised investors a staggering 20% yield if they put their money inside the Taro Luna ecosystem. Many critics, even those within the industry said that Tara Luna's model was unsustainable and sure enough it came crashing down last May. Two weeks ago gensler charged the creators of this ecosystem terraform labs and founder Dao kwon, with securities fraud saying that they misled and deceived investors. This case demonstrates the lengths to which some crypto firms will go to avoid complying with the securities laws gensler wrote in an accompanying statement. Ripple effects
Crypto Banter
"tyler winklevoss" Discussed on Crypto Banter
"So stacks wasn't built on quicksand. It has a long-standing history in crypto. There are a lot of vaporware projects stacks origins date back to 2013 as they talk about using Bitcoin as the foundational layout. Fast forward, block stack, which was what it was called before stacks. BNS and the virtual chain design were born. Shout out to the stellar engineers who brought this to fruition. Stacks always followed the long and heavy route and this is a very important point. Since it went for its first regulation a token sale approved by the SEC. Note approved by the SEC. So they went down like a very coordinated regulated path, which I guess did stunt the growth of the chain because it's very hard. If you're going the legal route, it's very hard to get quick approval and just launch. But now we see how important this is with the SEC cracking one thing after another. And I think this is why stacks has been running so hard because not only is it leveraging off the Bitcoin narrative, kind of this NFT boom, this defile and Bitcoin hold discussion, but it's also piggybacking off the fact that we have intense SEC regulatory scrutiny. And a lot of other protocols, they're in the limelight and they're facing scrutiny and a lot of exchanges are going to have to deal list a lot of projects that may be labeled as securities, and this means that the projects that are already verified in a legal sense, they have a distinct advantage and stacks falls into that category. It's backed by top tier people, your favorite thought leader naval, Tyler winklevoss, USV, Harvard endowment and placeholder with Chris Bernstein as well. So we've realized now how vital it is to have a legitimate backer since most web three VCs on thesis driven and played a significant role in the recent collapse in crypto height based culture. I find it bizarre they hold meme tokens in their balance sheet. We deserve better. One of the most notable milestones was the launch of stack's mainnet on January 14th, 2021, this was the first part of stack's innovative design. So we see how stacks actually works. It runs validates transactions off the chain on its own L one, and then it uses Bitcoin's security, talks to the Bitcoin network and interacts via blocks. So a lot of the a lot of the processing and storage happens off chain. And then you just get a bit of execution. Which ends up verifying on the Bitcoin layer. So that's I mean, it's obviously limited. It's never going to be as fast as sync or arbitral optimism or phantom or salon. It's not going to be that fast. It's not going to be that efficient, but that's not really the niche. I don't think the Bitcoin L one niche is like, let's create the fastest, most efficient chain possible. I think it's more so like, let's create a chain that works, but works well with Bitcoin. And that's kind of the goal of stocks.
Bloomberg Radio New York
"tyler winklevoss" Discussed on Bloomberg Radio New York
"Need a whiteboard. It's actually a good idea. Foundry, trade, block, luno, plus a ton of other investments, as well, Hannah. So what does all this mean for digital currency group? Yeah, so DCG has been a powerhouse in the crypto industry, very silbert is a major figurehead. So the fact that this company has had so many problems is really upsetting to the industry at large. And Barry silbert has traded barbs with Cameron and Tyler winklevoss. People want answers about what happened here. So again, this is just further shaking confidence within the crypto industry. And really casting a lot of uncertainty on the industry more broadly. So I think when people see a headline like this, they perhaps connect it to FTX, but like you've written about and like you told us, it's more connected to the collapse of three hours capital in the earlier part of 2022. If we think about contagion, what do we need to be watching for next? And does the contagion continue? Yeah, so I think it's going to be interesting. We do know these creditors for genesis, some of them are big names, including decentraland, which is this virtual web three world built on blockchain So it's going to be interesting to see how this contagion spreads, who gets affected. What is the connection to central land? The central land is a creditor for genesis, yeah. That is so surprising to me. Why would a company that is trying to build a why would a company that's trying to build sort of a real estate of the metaverse give money then to a company like genesis? Yeah, it's very interesting. And again, it shows this sort of confusing tangled web within the crypto industry. Everybody is connected. And so the contagion here, it's unclear where the limits are. Everyone, everyone is connected to everyone. So it's basically it. Listen, Hannah, if you do dream interview right now, that you could sit down with somebody right now to kind of maybe get that really big, I don't know, that when maybe help answer something. And that person had to be just completely drank some truth serum and had to tell you all the truth. Who would it be? I think it would have to be CZ over at binance. Binance is a major player, it's the top crypto exchange. And I think there are a lot of questions over how binance is going to move forward. And whether there are similar issues at binance that there were FTX. So I think CZ is definitely someone whose brain I'd like to pick. What happens to binance? I mean, this is like, this is a company that was seen at one point is perhaps coming in and buying FTX that fell apart in a number of days. What happens to binance? Yeah, so I think really what's hurting binance right now is regulators are looking into it. We've reported this. There is sort of this uncertainty about its business practices and there are also just, I think, a lot of people within the industry who are suspicious of centralized exchanges like binance because of the collapse of FTX. And CZ is also just such a powerful figure within the industry. So I think a lot of people are looking at them for answers and I think also binance is a huge part of the crypto industries future and how that's going to play out. Well, speaking of the crypto industries future, you and chinali basic have a story about the X FTX U.S. president Bret Harrison. Somebody who we used to interview all the time when he was over at FTX U.S. and he left FTX a few months before the collapse of the company and remember he was at FTX U.S., he's already been able to raise new money for a new firm and speaking of everything being interconnected, Hannah, like you said, coinbase and circle are some of those investors? Yes, some big names have jumped on board here with architect, which is Brett Harrison's new venture. And this is a startup that's working on creating trading infrastructure that can help institutional investors more easily access both centralized and decentralized markets. So we're talking DeFi here as well. And it's been very interesting to see that he raised $5 million for this startup at a time when venture capital investing in crypto has plummeted enormously compared to last year. But Hannah, he did Bloomberg news reported last month that he initially aimed to raise as much as 10 million at a 100 million valuations. So he had to kind of do a reset on his expectations, right? Oh yeah, he had to lower expectations. It's pretty clear. And he has spoken publicly about how it was a bit challenging to raise both before and after the collapse of FTX. And that some investors were a little worried about bad publicity about if they ended up backing a company founded by a former FTX U.S. executive. Buddy raised 5 million? I was just going to say he got it done. He got it done. He was able to pull it off. Oh, Hannah, we love you. Thank you for playing along with the crypto game, but it is interesting and to get your insight because we are all kind of finding our way through it as we see more and more information come out. Hannah Miller, she's killer, digital currencies and venture capital reporter at Bloomberg news. Joining us from San Francisco. All right, well, looking at a markets right now. We're still seeing highs on the S&P 500 one point seven percent. So close to session highs and NASDAQ high by 2.5% Carol. All right, right now it's time
CoinDesk Podcast Network
The SEC Targets Gemini and Genesis
"Going to talk about the SEC action as it was dropped yesterday. I'm going to put will in the spot for this one. SEC Gemini genesis, what's your take on this one? This is a whole new chapter in the Gemini genesis feud. There is a lot going on here. In Zach, I kind of want to fact check you. I'm not sure if you're quite right. I think there was a little change in the language in that video because he did call back to BlockFi and then forcement action there. But I think 90% of that video was old. I think they just substituted a little bit in there. So yes, hats off to Gary gensler for reusing content. The cheapest way to do it. But let's talk about the winkel vibe in their reaction to what happened yesterday. So if genesis and Gemini feuding publicly on Twitter, we have Barry silbert, and the winklevoss going at each other in front of everyone. It's been great and spectacular to watch unless you have funds on Gemini earn that is, of course. But we have nice tweet from Tyler, winklevoss yesterday, saying, quote, it's disappointing that the SEC chose to file an action today as Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help earn users get their assets back. Their behavior is totally counterproductive. He goes on in his tweet to say that the SAT did not even give notice to Gemini or genesis before filing here. In fact, they just sent out press release, issued some tweets, put up this cute little video and let the wreckage start on Twitter. And that's a pretty tough place if you're in Gemini or genesis seats, right? Like they're already dealing with very angry customers, they're already dealing with huge holes and losses in their balance sheets. And then Gary Gonzalez comes up from the top roads and hits him with the steel chair. It's a very unfair and it's pretty spectacular to watch.
Bloomberg Radio New York
"tyler winklevoss" Discussed on Bloomberg Radio New York
"Hope now in terms of what China is reopening might mean for global growth and of course the milder winter in Europe might take the edge off the downturn there. But a pretty gloomy outlook for the World Bank overall. And then I hear that the feds Michelle Bowman has spoken and I guess for the most part, looks like she echoed what other fed speakers have been saying. I wonder whether I'm missing anything here. No, the fed seems to be in sync on this message is that rates are probably going to push above 5% and they all seem to make the point now that expectations for a pivot are premature. So rates are going to go up and rates will the rate hiking cycle may end relatively soon, but they've pointed they're trying to get across and all of these are that they're not in a hurry to bring down interest rates because inflation is still uncomfortably high. That seems to be the central message from all of these officials. And outside of the fed, we had a panel of University of Chicago, professors making the same point overnight as well. They see interest rates well over 5% in the U.S., but it don't see any sign of a quick return to lower interest rates or interest rate interest rate cuts anytime soon. So I think it seems to be fairly unified message from the fed. We have inflation this week, which will be crucial. All of that will help form their decision when they meet at the end of this month. And thank you very much for making a time that's our chief Asia economics correspondent and the current, let's not talk about Apple. They are planning to start using their own custom displays and mobile devices as early as 2024. That's as part of a sweeping effort to reduce their reliance on technology partners, which includes Samsung and LG. I want to get out to our Asia tech editor, but you mean a gishi joins us now from Tokyo, so mayumi, what products and what kind of time frame are we looking at? Well, initially, we were talking about a really small, high end segment of Apple watches. Apple has begun testing. These MicroLED displays on their new sports watch. It's called the Apple watch ultra. Our sources tell us Apple hopes this will happen as early as the end of next year, but our reporting is indicating that could be delayed until 2025. This is a pet project of apples. It's been years in the making since at least 2014. And only now we're getting closer to seeing this rolled out. And it speaks to the technological hurdles before this can be mass produced at a commercially palatable price. So it may take some quite a bit of time before I become standard for all Apple watches and still longer for this to be the factor for iPhones. So I wonder whether there's any way if I could just jump in and flesh out the point around quantifying the scale of this move, how big a deal is this really in terms of dollars and cents for Apple? Well, long-term, this is a huge deal. I mean, especially for LG whose exposure to Apple is much bigger than Samsung's which is South Korea based company. The volume, the initial volumes we're talking about are timing compared with the displays, Apple sources, but the new signal is a huge shift in apple stands on production sourcing that forces a major rethink on long-term strategy for all its suppliers, not just its display makers. We'll leave it there. Thank you very much for that. That's our Asia tech editor, mayumi nikiti. Now, the following continues to widen from the collapse of crypto platform FTX. The winklevoss twins exchange is set to be tarnished after customers found $900 million to stuck in limbo. And some of the biggest names in U.S. sports are among those sharing the pain. Let's get out to our senior crypto reporters when officer. So Joanna goes the latest with Cameron and Tyler winklevoss and their crypto empire, which was envied by many, not too long ago. Right, Yusuf. So they have about $900 million that stuck in Gemini urn because this partner genesis has halted withdrawals and that's owned by a company owned by Barry silbert and the winklevoss twins are not too happy with silbert and it's now taken another turn where Cameron winklevoss basically accused silvert of defrauding Gemini customers and saying that the board should remove him. So $900 million are at stake and Gemini's brand maybe somewhat tarnished by this, but it's something where they've taken it to the next level now with this back and forth. And then what are some of the notable things that have come from the list of FTX shareholders? I mean, yeah, some of the celebrities, of course, immediately ring a bell. But what would you point to? Yeah, well, this was interesting. There are some people we knew. I mean, we know that or entities affiliated with people like Dan Loeb and Paul Tudor Jones, who had investments here at Peter Thiel affiliated vehicle is one of these as well that we're shareholders. But the thing I found most interesting was that you have Tom Brady and Gisele Bündchen, who were both listed as shareholders of FTX trading and Tom actually had almost double the shares that giselle did, but it doesn't look like people will get a lot out of that because shareholders tend to be at the bottom rung on the creditor lists in bankruptcy cases. Do you want to thank you very much, great catching up to our senior year crypto reporter Joanna asked you there. Check on the first word headlines for you from around the world Simone foxman has those from Doha Simon. Thanks Yusuf. U.S. officials say President Biden has privately urged his Mexican counterpart to capitalize on the U.S. drive to boost domestic semiconductor production. The move is part of a push to shift supply of some key technology components from Asia to North America. Biden's advice comes with an agreement with Mexico and Canada to better coordinate investment and chip making across the continent. A White House official says President Biden has asked treasury secretary Janet Yellen to stay in her post and she's agreed. We're told the U.S. president made the request in mid December. Yellen told NBC in November that she intended to stay for the duration of Biden's current term. The development ensures stability at the treasury ahead of a fight in Congress over raising the debt ceiling and a looming threat of recession. Lending in China grew more slowly than expected in December. As the spread of COVID weighed on economic activity. Central Bank data show aggregate financing by banks and other financial institutions totaled a $193 billion, but that was short of analyst estimates and down almost a half from a year earlier. And the French government has presented a plan to gradually raise the minimum retirement age from 62 to 64 by 2030. President of Manuel Macron says, making people work longer will boost low senior employment rights and avoid persistent deficits in a public system funded by worker contributions. But the move sparked anger among labor unions who immediately called for strikes. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm Simone foxman. This is Bloomberg. Yes. Thanks, Simone. That takes us to our preview for what else is coming up on the program. The more asset management, Middle East says GCC economies are experiencing caught a golden age due to the wide scale economic liberalization reforms CEO title for dollar joins us later. Plus the traders look ahead to the latest inflation data coming out of the U.S. XM Australia shares their market strategy next. This is Bloomberg.