DON'T BUY CRYPTO UNTIL THIS HAPPENS! (CAUTION TRADERS) - Transcripts

January 19, 2023

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A major breaking news update about one of crypto’s largest companies in the world going bankrupt could lead to another big crypto dump soon! After seeing this, is this dip worth buying? Join Crypto Man Ran in today's episode of Crypto Banter for the FULL STORY that covers it all! Don't miss this one!! - - - - - - - - - - - - - - - - - - - - - - - - - - - - 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: Crypto Banter is a social podcast for entertainment purposes only! All opinions expressed by the hosts, guests and callers should not be construed as financial advice! Views expressed by guests and hosts do not reflect the views of the station. Listeners are encouraged to do their own research. #Bitcoin #Crypto #Altcoins 𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀: 00:00 When to Buy the Dip 02:55 WEF Davos & Ripple XRP SEC Law Suit 04:32 ByBit & Bitget Rolex Giveaways 05:15 Bitcoin Price Support Levels 06:23 S&P 500 - Is the Bottom in? 08:07 Department of Justice - Bitzlato 12:13 Altcoins Pullback - Gains Network, AVAX 13:35 Narrative of Inflation is Gone 16:10 Recession, Interest Rates & Money Printing 20:28 Ethereum Becomes Deflationary 23:26 Jamie Dimon - Bitcoin is Fraud 27:35 Genesis Bankruptcy, DCG & Gemini News Today 36:25 Crypto News Today & 7 Altcoins to Buy

Transcript

Listen, if you're bullish and you're looking to buy the dip, and you're looking at this equivalence chart and you're wondering which tokens you should be buying on this dip, then don't do anything yet. OK, don't do anything yet until you watch this video in this video, I'm going to show you which tokens I'm buying. I'm going to also show you five tokens that I'm buying. That I've never, ever, ever spoken to you guys before. And I can tell you that in this dip, I'm going to be buying those five tokens. That's only a few bullish. You're bearish. I'm going to show you why you should continue to be bearish. And I'm gonna show you one of the dominoes that may fall soon that may impact the crypto market. And that only when that Domino falls then I'm going to be buying the dips. I'm going to say that again. The tokens that I'm going to speak to you about today are not the ones that I'm buying today.

There are tokens that I'm buying only when a certain event happens in crypto. And that's the event that we're going to be talking about. So make sure you watch this until the end. And you understand what to buy, but also when to buy, because not only about what to buy. It is about when to buy. Let's do it.

Get the fuck out of bed, bitch! Go!

David Gertts or David Gertts said, it's alpha time. It is alpha time. Indeed, this is what he's talking about. Because we're going to bring you the highest alpha per minute show on the entire internet. All you guys need to do, subscribe to our channel, like this content. Help us get unshadowed banned. I am the only show that is shadow banned on the whole channel. Sheldon Show, not shadow banned. Carl Show, not shadow banned. Miles Show is not shadow banned. Used Show shadow banned. My show is shadow banned.

And today, my show is going to be a huge show. Ellen says she likes the blue. Dr Epic says he it's alpha time. Yeah, Vito's got the right idea. Vito says smash it or like button smash that like button. Someone said I got my alert. That's better. A lot of a lot more people are getting alerts. Some people are saying and ban run and ban, right? Indeed. Listen, we're not we don't often talk about XRP on the show today. We're going to talk about XRP.

In fact, there's a big meeting happening in Davos, you know, there's this big meeting. It's a world economic forum meeting. It's all the big names in Davos. And they caught up with Brad Geilinghaus from the SEC. So we don't normally talk about ripple on the show. But we can talk about ripple

today. Here it is. Please. Let's talk about those regulators in the US, the SEC, Brad, let's get a check in on what's going on with that lawsuit with the SEC and ripple. Are you nearing an end

potentially? Are you planning to settle with the SEC? Well, we've always said that we would love to settle, but it requires one very, very, very important thing. And that is that on a go forward basis, it's clear that XRP is not a security. The SEC and Gary Gensler has very outwardly said he views almost all crypto as a security. And so that leaves very little space in a Venn diagram for settlement that the case is now fully briefed in front of the judge. And judges take however long the judges will take. You know, we're optimistic that this will certainly be resolved in 2023 and maybe the first half. So we'll see how it plays out from here. But I feel very good

about where we are relative to the law and the facts. So you see, he's saying that he's confident that the case will finally be resolved. And he's saying maybe even in the first half of 2023. So if you're an XRP holder, that's the good news. Later, I'm going to show you the bad news. I'm muted. So later, I'm going to show you the bad news. So that tells the good news for XRP holders. I'm going to show you some bad news for XRP holders it can't only be good news for participants. All right. Let's do this. Let's do this.

Just again, a reminder, you all know about this, I'm going to remind you about it anyway. Two Rolexes up for grabs. The blue one over here. My favorite. Unbelievable watch. Unbelievable watch. And the black one, if you want it, there's a referral link below. Sign up to buy, but or get using any crypto bank to referral link. Every trade you make is an entry into the competition. And before the end of Feb, we will give away the Rolexes. And then you know what we're going to do after the end of Feb? We will give away more Rolexes.

And if you want to double your chances, open accounts and buy an open account and trade on both because you're going to be talking about people say wrong thumbnail. Yeah, it is the wrong time. Should I put the right one out or could you live with it? You could live with it, right? Yeah, come on. Let's get on with the show. We're going to talk about today. Let's talk about Bitcoin. I told you guys before that I didn't think that this would be an easy support to break because it's a big support. The FTX support was a very big support to break. And so as I said, we touched it. We never closed above it.

And now we're starting to come down. We're still above this 200-day moving average, which is a good place to be. But I fear that if the market comes down, this is going to melt like batter. This is not going to be a real support. And then you've got like another support at 18.5. And then you've got another support at 18.3. So between 18.3 and 18.5. So this for me is going to be the range at which I hope we remain this 18.3 to, I'd call it around there, 18. Yeah, maybe even lower. Maybe a bar there. So for me, we're going to be hovering here between 20, 21,000 and 18,500. I hope we stay above this 19,583.

So it was quite weird yesterday because we got the S&P being rejected by this critical level that the S&P has been fighting. So what you can see about the S&P is that S&P also closed above the 200-day moving average one day. But that came against this resistance that it's been fighting for the last year. So for the last 12 months, the S&P has been fighting a certain resistance line. And you can see that yesterday it was rejected quite badly by this strong resistance line. Now, we want the S&P to break out. And fundamentally, a lot of things are saying that the S&P should break out. If it does break out, then it could mean that Bitcoin's going to go forerun. It doesn't mean that Bitcoin can't go forerun if the S&P doesn't go forerun, but it just makes it a whole lot easier. If the stock market's running, then Bitcoin goes with the markets. Be that as it may, we're not trying I'm willing to catch a bottom here, because we know that the bottom is an area and the main thing now is to say, do you believe that there's more downside or more upside specific for crypto? If you're like me, I believe that we've seen the liquidations, we've seen most of the worst of it.

And so I think, I think, think, think that there's much more upside than there is downside. And as long as you're buying in a period where the downside seems to be a lot more limited than upside, that's all you need to be doing, especially if you're a long-term investor. If you're a trader, well, then you're trying to catch swings. And in fact, speaking about swings, um, that's my AVAC short. I did say to yesterday that I felt that it would break through this, uh, this flag, which let me just switch this off. Sorry. Um, I told you yesterday that I think that it's going to break through this flag, which, which eventually it did. Um, and it broke down exactly as I predicted. I'm still in my short. I didn't close the short. I should have closed it yesterday, but I was live with you guys on a, on Twitter spaces because of this department of justice. Rag that we had yesterday.

Now, can we just talk about this department of justice!? Rag. Because it, it was the biggest rug that I've ever seen. Seriously, I've never seen anything like it. So we had the Department of Justice come out and scare us all. I mean, since, when did the Department of Justice do a marketing campaign around an enforcement action that they're going to take, they were like, listen, we're making a huge announcement around an enforcement action, and they say like, the US Justice Department says, it says it to announce an international cryptocurrency enforcement action, and as soon as that came out, we all started to panic because they said, you know they said the word international and they said cryptocurrency enforcement action. And then as soon as the Department of Justice said that the FBI came out from the similar announcement, Finsend came out with a similar announcement. And so we thought that this is going to be huge. And there was speculation, and the market started to come down. And that's what hurt altcoins yesterday. And that momentum that we had was destroyed yesterday by the rug that the Department of Justice did. So we all thought, after all these announcements and announcing it in the media, we all thought immediately, who could this be?

And of course, we thought, OK, it must be Binance, because international, big announcement, calling on Bloombergs and whatever else, got to be Binance, got to be Binance. CZ, at the same time, was tweeting 4. And remember, 4 relates to his resolutions for the new year and in number 4 was ignore fake news and attacks. So that was one of the speculations. It didn't help that Justin Sun started to withdraw $100 million from Binance as soon as that happened, because it was like, oh, god, that's how it is. Dallas, big hug to you, my friend. Big love to you and to your beautiful family. I see you. You don't have to super-check me, bro. You've done so much. You don't have to super-check me. I promise you.

And then this whole announcement that the DOJ made, Today, the Department of Justice has

dealt a significant blow to the crypto prime ecosystem.

A significant blow to the crypto crime ecosystem. Justice Department agents and prosecutors working in partnership with the Treasury Department and French law enforcement have disrupted Bitzlado, a China-based cryptocurrency exchange

notorious for laundering criminal proceeds from the dark. Okay, so Bitzlado, who the hell are Bitzlado? I've never heard of Bitzlado, and I bet you hadn't heard of them until yesterday, until Bitzlado actually squeezed all your shorts. And for those of you who were short, well, you guys got wrecked. So who are they? They are some tiny, tiny, tiny exchange that had a peak of $6 million in their wallet and now have $11,000 in them. They have 1,506 Twitter followers. I think that the DOJ wrecked us so badly here. It was embarrassing. It was embarrassing. The one thing that I do want to say here is that we need to, this is an amazing thing. She says the Bitzlado announcement from the DOJ is so bizarre.

The DOJ worked for over a year to shut down a random tiny Russian exchange while FTX was literally a multi-million dollar forward right in front of them. That is exactly my sentiment. You want to make an announcement that's going to fight the whole market? I cannot imagine that someone in the Department of Justice was watching this and says, we're going to actually fuck with cryptocurrency people. We're going to screw with their minds. We're going to make an announcement. We're going to make them wait five hours to get an announcement. And then when the market goes down, we're going to buy the dip, brought? That's what we're gonna do. So anyway, they arrived here, let's talk about altcoins. You got us once. You got us once.

Someone says even Carl has more than that in his account, and they arrived. Even Carl has more than 11 grand in his account. I didn't say it. Carl. I didn't say it out loud. I didn't say it. All right. Let's take a look at the altcoins. This is what it looks like out there. This is what it looks like out there. It's a red day. Most of the altcoins are down about 10%.

So, thank you Department of Justice. you've caused everybody to be done, all coins to be done, about 10%. Congratulations to anyone who took the FTT short that I spoke about. You would have made yourself a whole lot of money. I think FTT is now trading at $1.78. The short was at $2.65. You would have made yourself a packet of money. Congratulations to anyone who bought Gains Network. We have been talking about our sponsor, Gains Network. If you did, even on a day like this, you're up 20% and you're up about 30% or 40%. So congratulations to you guys. Avax, as I said, comfortable with my short.

I think there's going to be another leg down. That's when I'll close my short. I would have closed it last night, but as I said, I was busy on a Twitter spaces. Yeah, so that is alt coins. Let's get rid of all this Department of Justice bullshit because it was such a rug that I actually don't even want to keep it open yet. It was just such a rug. Yeah, that's the FTX short, $1.80. Anyway, listen, if you are bullish like me and you're bullish about macro, which I am bullish about macro, and you like me believe that it's not about catching the actual bottom, but it's actually about finding an area that you're comfortable that the risk reward of the bottom is much better. The risk that we are going down is much smaller than the opportunity that that will happen if we're going up. If you believe that, then you probably believe that even though they may could possibly be another 10% done, we will be getting a recovery soon. And when I say recovery, I don't think it's the same recovery that everybody else is thinking about. I think that what's happening now is that we've been fixated on the narrative of inflation and the narrative of inflation meant that the Fed had to keep increasing interest rates.

But now, that narrative is gone. And I'll show you why that narrative is gone. Okay, so that narrative is gone, because if you look at inflation and specifically you look at CPI, which is a consumer price index, you can see that in the last 12 months, inflation... let's get this out the way. There we go. Now I can hear you guys again. I'm back. So you'll see that in the last 12 months, inflation was 6.5%. If you take inflation for just the last six months, Inflation was 0.2%. And if you take inflation for the last two months, inflation was 0.4%. So the inflation narrative is gone. I mean, it is absolutely gone.

You can see that the producer price index is also starting to go down and accelerate quite far down. So in the absence of the inflation narrative, which I think we need to wave goodbye to, bye-bye inflation. We're not going to talk about inflation for very much longer. There is a new narrative that is now going to surface into the market, and don't say we didn't tell you this. Remember that we told you this in the beginning. So someone says you're ready to buy the dip. Today, we're going to talk to you about tokens, six or seven tokens that I'm going to tell you to buy today, and I'm going to tell you why to buy today that I've never spoken to you about before. So seven fresh, new, amazing ideas that I've never spoken to your bud before, bad, bad, bad, bad, bad, bad. You're not going to buy them yet. I'm going to show you exactly when to buy them so remember that so there's going to be a new narrative it's not going to be around inflation anymore the new narrative is going to be around a very-very-very scary word okay. No the word is not James, it's not James, the word is recession. The new narrative that you're going to get you're going to start hearing now from everybody is recession and when you hear the word recession don't be scared, okay don't be scared because what we want right now is we want want the recession to come as quickly as possible, because what's going to happen is the Fed is going to keep raising interest rates.

When they raise interest rates, it's going to slow down the economy. When they slow down the economy, people are going to lose their jobs, and they're going to spend less, and that's going to cause a recession. And when the recession happens, what you're going to need to do is you're going to be smarter than everyone else because you know that when the recession happens, what does the Fed do to get the market out of recession? But there's only one thing the Fed can do. Actually, there's two things. One, it can decrease interest rates, which stimulates the economy. Two, they can print more money. That's the only two things that the Fed can do to get the world or the United States out of recession. So when you hear the new narrative out there, here we go, when you hear the new narrative out there and says the market's most prominent concern has started to shift from high inflation and tight monetary policy to the severity of the potential recession, be careful to not be like everyone else and think a recession is bad. For us, a recession is good. We share the view of BlackRock's vice chairman. He says, bringing inflation under control means you have to damage the real economy, means you cause a recession and there's no way around this.

How do you get yourself out of a recession? Well, the only way that you get yourself out of a recession is you start printing more money. Now, there is a subset of investors that have noticed this already. OK, so they know about this. And that is the people that are buying gold. So the people that are buying gold realized in late November that the narrative of inflation was changing. And they realized, you see, if you look at the gold buyers, they are very smart. They're very, very, very smart. Look, for the whole of last year, whilst the Fed was dealing with inflation, right? What these people were doing is they were selling their gold because they're saying, look, as long as there's inflation, the Fed is going to take money out of the economy. And if the Fed takes money out of the economy, then gold is going to go down because you don't need a store of value because it's the opposite of inflation. However, when we broke this trend, price surprise at the end of November, coincidentally, when inflation started to drop, the gold buyer said, hold on a second.

If the inflation problem is now finished and the economy is going to go into recession because Powell has raised interest rates so much, right? That's when gold breaks out because the gold buyers are saying, hold on a second. Powell's next move is to print more money. And if you are going to print more money, then we need a store of value. And what's the traditional, the most traditional store of value is gold. And what's becoming the most traditional, the second most traditional store of value that is not gold, green gold, Bitcoin, new gold, digital gold. And so I think what's going to start happening now is as people start realizing that recession is coming and that Powell is going to have to start to loosen, gold is going to continue to go up. And if gold continues to go up, then I think what's going to happen is Bitcoin is going to start going up. And when Bitcoin start to go up, what's going to happen is You're going to see a whole lot of other cryptos going up, and I'll show you why all those other cryptos are going up. But it's because of two reasons, right? The first reason why that happens is because the sentiment starts to change. You can see that the sentiment started to change.

You went from fair to neutral. In fact, let's look at this on a chart. For a long time, we were hovering at extreme fear, twenty-two, twenty three. But, look, the sentiment is starting to change. And now we're starting to hover at a new level on the fear and greed. And it's not only bitcoin. And in fact it's ethereum as well. Ethereum people are more positive than Bitcoin people. Why are ethereum people more positive than Bitcoin people? Well that's easy to work out. Because we think that ethereum is going to outperform. Bitcoin is mildly inflationary because it keeps printing new Bitcoin.

But ethereum is not like that. Ethereum has become deflationary, not only is ethereum deflationary, but yesterday it It was burning over 371 ETH per hour. What you can see is that as soon as the market starts turning, Ethereum starts to burn more tokens than it means, and it becomes deflationary. And that's why Ethereum people are a little bit more positive than Bitcoin people, as you can see over here. The Bitcoin fear and greed is at 45, and if Ethereum fear and greed is at 58, people are more bullish sentiment wise on Ethereum than Bitcoin because of EIP 1559, which burns Ethereum with every transaction and is now made Ethereum deflationary. So that is that. Not only that, if you look at the fundamentals here, you look on chain and you say the net unrealized, the net unrealized profit and loss is now out of the capitulation zone. You also say that the realized price of Bitcoin is now above the average price. Now, what does that mean? It means that the actual price of a Bitcoin walls is above the average cost base of all the Bitcoin holders, which means that most Bitcoin holders are actually in profit now. Now, let me explain to you. When people are in a loss, when you're in a position and your position is in a loss, then you go into the mindset of capital protection.

Right? You say, oh my God, I invested in Bitcoin. I spent twenty thousand dollars. I'm in a loss, and in your head, what do you do in your head? What do you do? You say, hold on a second. I'm not going to invest until I make my money back when you make your money back and you get into a profit What do you do? What's the first thing you do you start spending your you start reinvesting you start saying? I'm up. I feel better I feel more confident in this as because I'm not feeling the pain of a Of the loss and when you don't feel the pain of the loss You start you start spending more money and investing more money in other things So gabby the DGN he says it right It says, when you're done, you want to protect capital. When you app, you want to make profits, and that's why this level is so important. When all the Bitcoin holders on aggregate are positive, they start to spend more and then we see the market starting to run.

And you can see that now Bitcoin is starting to be held only by long term holders. So 85% of Bitcoin is actually held by long term users that have never sold. Imagine having an asset where 85% of the asset is held by people who have never sold. Is there any other asset like that in the world? Where 85% of the users of the asset have never sold, I don't know. If there's an asset. I don't know about it, anyway. So, that's that. Yeah. Even with all this data, even with all this amazing data, they are still some nBrases in crypto. And I'm gonna play this to you, I'm gonna show you the other side of the case. And then you're gonna tell me whether I'm being dramatic, or I'm not being dramatic.

So, This is Jamie Dimon. Jamie Dimon, I mean, I don't have to introduce him. This is him speaking at Davos

about Bitcoin. Okay, just listen to this. What we're talking about, we pretty much always have some crypto conversation with you. I'm just curious because I don't think we've talked to you since

we've talked to you since. I think all that's been a waste of time and why you guys waste any breath

and it's totally beyond me. Because you just think the whole thing just is going to zero and is fake? Bitcoin itself is a hyped up fraud to pet rock. You're back to that? Yeah, of course, yeah. So what do you make then of BlackRock and other firms that are investing in infrastructure?

That's different. Blockchain is a technology ledger system that we use to move information. We've used it to do overnight repo, intraday repo. We've used it to move money. So that is a ledger. That's a technology ledger type of thing that we think will be deployable. Remember, we've been

talking about that for 12 years too and very little's been done. There's some tokens that I agree with you. But Bitcoin is based on a distributed ledger. It has all the characteristics of a store of value. It's immutable. It's scarce. Totally untrue. It's 21 million.

21 million. Well, yeah, really. How do you know it's going to stop at 21 million? Everyone says that. Well, maybe it's going to get to 21 million and Satoshi's picture is going to

come up and laugh at you all. Oh, come on. There isn't a picture. It just says you didn't understand it. It's hard coded into the protocol. I mean, we can all read the code. The

code is transparent. And by then Satoshi have taken out billions of dollars. What was your reaction to the failure of FTX and all of that? You know, you've seen lots of failures over the years,

different things that have happened on Wall Street in the world of finance. I'm not surprised at all. And I called it a decentralized Ponzi scheme. The hype around this thing has been extraordinary. But you have a lot of clients who are involved. You guys have you've all seen the analysis and tether and the analysis and all these things and the lack of disclosures. And it's outrageous. Regulation stopped this a long time ago. People have lost billions of dollars. You know, some are, you know, if you look at it, it's lower income people. It's some in some cases,

Jamie, there's a different saying FTX is a decentralized Ponzi scheme and saying that crypto itself is a Ponzi scheme. That's like, I mean, Madoff created options.

Doesn't do anything. Is a pet rock. You're happy to own it. Yeah, you can own it all you want.

Okay, so you've now heard Jamie Diamond's views on Bitcoin and about crypto. He calls it a Ponzi scheme, a decentralized Ponzi scheme, etc. If you are the head of a bank and you think that something is a Ponzi scheme and you're willing to go out into the world and tell everybody that this is a Ponzi scheme. Okay. Is it then okay to be one of the first banks in the United States to rush to sell this decentralized Ponzi scheme to your clients? I don't think it's okay. But JP Morgan led by led by Bitcoin Jamie Diamond quietly unveils access to half a dozen crypto funds. And if you read into this article, they letting people invest in crypto direct and in grayscale. Now, how do you reconcile being a CEO of a bank, calling something a Ponzi scheme and a decentralized Ponzi and then pushing that to your client base? How is that okay? I don't know. Maybe I'm being dramatic.

Maybe I'm just venting, but I don't think that's okay. Okay. So listen up. Listen up. Listen up. I'm going to give you guys a list of five or six or seven coins that I've never, ever, ever told you to buy before. I'm telling you that I think that I'm going to start buying them. Now you can do whatever you want. You can either follow me, not follow me. I don't really care if you want those coins. Smash the like button, let's get to 2000 likes. If you want me to get to 2000 likes, I reveal those coins.

And I'm going to show you when to buy this because there is one more domino in crypto that needs to fall. And that is this domino of DCG and Genesis. Now, yesterday, there was news that Genesis is said to plan their bankruptcy filing. So let's talk about Genesis and what this actually means, because it could be quite serious, right? So what is this whole story about Genesis and this bankruptcy filing? Genesis, as you know, is a lending company. They are kind of like a wholesale lending company. A lot of Gemini users interfaced with Genesis and Genesis created the lending facility. Genesis is owned by a company called DCG. Now, they suspended their services, suspended withdrawals, suspended their services earlier this year. And since then, people haven't been able to withdraw their money. And they've been negotiating with their creditors.

Their creditors are the Winklevoss Brothers, who are representing 340,000 users on their platform and a whole lot of other users there. Right now, they owe about $3 billion to their customers. And they can't repay the full $3 billion. In fact, we think the whole is just under a billion or maybe just over a billion. Okay, so we don't know exactly, but we think it's about over a billion. They have two options. Option number one is they negotiate with their creditors, which is mainly the Winklevoss Brothers. Option number two is they put the thing into bankruptcy. Now, problem is that, if they put this entity into bankruptcy, then it goes through the same process that FTX is going through, that Enron went through, that Mt. Gox went through, that Celsius is going through, that Voyager went through. And if that happens, the liquidators make a whole lot of money charging millions and millions and millions of dollars per year. And the money will not The money will not flow to the users for months and maybe even years.

Okay. So that's where we're at. So yesterday, there was an announcement saying Cryptofirm Genesis is said to plan bankruptcy. I think they could be calling a Blafia. And the Blafia is to say to the Vinkle Vos Brothers, look, they publish this headline that says we're planning to go to do bankruptcy so that the Vinkle Vos Brothers negotiate a settlement with Genesis. That's option one. If they do declare bankruptcy, well then, does that affect the crypto market? Does that mean that the bubbles are going to go even more red because there's another bankruptcy that we don't know about? So I'm going to cut the chase here and say the following. I think a Genesis bankruptcy is priced in. I think the market knows that Genesis will most probably go go into bankruptcy, and it's priced in already. And then it's just a case of how quickly they can resolve things.

Now, indications are that if they are going into bankruptcy, that this one could actually be resolved pretty quickly. And the reason why I say that is because I read somewhere, and I want to try and find this for you, that this kind of bankruptcy creditors would agree to a forbearance period between one and two years under pre-packaged bankruptcy plan in exchange for cash payments and equity in DCG. So what's happening here is I'm saying, look, we may put this thing into bankruptcy, but it's a kind of bankruptcy where it's wrapped. You know exactly when you go into the bankruptcy exactly what you're getting. And what you're getting is you're going to get cash flows and equity in DCG. At the same time, it looks like DCG, the parent company of Genesis who owes Genesis, by the way, a couple of billion dollars, I think, $2 billion, somewhere around there, is starting to sell off its assets. So what are the assets that it's selling off? Well, the one asset that it's selling off is Coindesk. They own Coindesk. Coindesk was a business that was worth half a billion dollars, I wouldn't pay more than $10 million for Coindesk, because I think they just written press and written press is in my mind obsolete. But there is interest. Even Charles Hoskinson came out this morning and he said, you know, I just realized that Coindesk is for sale.

I wonder if Charles Hoskinson would buy Coindesk just to own a media company. They also have a very, very, very impressive list portfolio. Like you can see that, let me just find this for you guys. You can see that they've got assets like Coinbase, their own Ripple, their own Silvergate, their own Decentraland, their own Bitcoin's Lightning Network. They don't own Bitcoin's Lightning Network. They own parts of it. So they could be liquidating some of this impressive, impressive portfolio, so there could be a shift in the market, but none of this effects the market. Except one thing, they do own a thing called the Grayscale Bitcoin Trust. And the Grayscale Trust or the Grayscale Group of Companies holds a whole lot of tokens just to give an idea of how many tokens they own and which tokens They own $13 billion worth of Bitcoin. They own $4 billion worth of Ethereum. They own $36 million worth of Bitcoin cash, not sure how they're going to sell that. They own $2 million worth of Chainlink.

They own $12.2 million worth of recent Crand and the list goes on and on and on. So you can see this is the list of what they own. Now, one of the assets in DCG is Grayscale. And Grayscale actually makes a lot of money, because They charge 2% for managing this portfolio. And if you take this portfolio, you're talking about a $20 billion portfolio. Managing a $20 billion portfolio, making 2% per year, easiest $800 million that ever happened. However, there is a possibility, it's a very small possibility that someone will buy this, or that they will be forced to liquidate the trusts. We know this because historically, there is some precedent for the dissolution of a grayscale trust. In January 21, Grayscale voluntary liquidated the Grayscale XRP trust because of the SEC's action. And when they did that, the XRP coins held by the trust was sold on the market by grayscale and the proceeds were distributed to the trust holders. Now imagine that the same thing that they did the same thing with GBTC and ETH, they're much larger than XRP trust with over $14 billion across the two trusts, the potential price impact of liquidation into cash would be substantial, trading volume across two coins on Coinbase for the month of December was only $20 billion. Even if liquidation occurred over a period of several months, such selling pressure would likely drive crypto prices lower for a long period of time.

So what we don't want is we don't want GBTC selling this. You have to, have to keep your eyes on GBTC. The good news is that I don't think it's going to happen. I think that the, that DCG will just sell it to someone and someone else will milk it for the $800 million that it makes per year, or that when it says here, when it says here, when it says prepackaged bankruptcy plan in exchange for cash payments and equity in DCG, when they refer to cash payments, that could mean that the ongoing, that the creditors are negotiating and saying, look, you have to see the profits of the grayscale Bitcoin trust to us until we are made whole and only then can you sell it or convert it into an ETF. And that is what I think is going to happen. Anyway, what's happened now is that the grayscale discount is at 42%. So quite right. So $400 million. It's two percent of $400 million. So not $800. You're right. You're right.

My bad, Errol. Thank you. Thank you for correcting me. You are. You sound exactly like my wife. She corrects me all the time. It's true. When you get married, you'll see, you'll see when you get married. I know you're laughing now, but when you get married you, your wife will correct you all the time. What did you get the extra thousand likes? Can I talk about seven tokens that I have never spoken about to you before and I think that, of those seven tokens, I'm going to buy them. Now there are a lot of tokens in the market.

Now you've got to ask yourself a question. Where am I getting these seven tokens from and why haven't I spoken to you about them? Why have I been keeping them under the RAG here? You can't say that and you can't under the RAG cause then people say it's a RAG pool. So did we get the likes or not? Check, check. We have to check. Let's see. Let's see if we got the likes. So I'm going to give you guys this 5,000, 4,000 of you in the chat. So what I'm going to do is I'm going to quickly go through some other news. And then if in the next three minutes we get the extra 1,000 likes, we continue.

If not, we'll do that show another day. Okay, let's go. So some other news here. Gains Network, we did tell you guys about it, whether you bought it or not. Your call, remember that our sponsor. So this is not a paid chill. I'm just looking at the fundamentals. This is their fees in the past 80 days. You can see growing amazing. Her salon is filing. As I said to you guys yesterday, they own $685 million worth of Solano. I think this is a positive thing, not a negative thing.

And the reason why I think it's a positive thing, not a negative thing is because these tokens are now locked up with the liquidator until the liquidation. Finishes. And so these are to me tokens that are out of circulation. And when tokens are out of circulation, and I think that's a good thing. So people, I think are reading this the wrong way. This is pretty cool. So, you know, founders find Peter Thiel seems that Peter Thiel was on stage at the Bitcoin conference last year in around April or May, telling people that Bitcoin was the buy of the century. Listen to this.

I would submit that perhaps the way we should think of the Bitcoin to equity rate, you know, the benchmark for Bitcoin is not gold, but equities. And the question is, why can't there be parity between Bitcoin and equities? Why shouldn't we be talking about something more like a hundred to one, which, of course, won't be won't be as good as it sounds because the fiat money will be worth a lot less and it'll be taxed pretty heavily and whatnot. But I think but I'm still hopeful that if Bitcoin goes up by a factor of 100, you will you'll make some money, a modest amount of money in real terms. Now, you know, they're sort of.

So he will not be shilling Bitcoin in March, April last year at the Bitcoin 2022 conference. Well, at the same time, his fund sold its holdings of crypto, mainly Bitcoin, at the end of March when the price was at forty five thousand. That's that's just doesn't sound cool. It's not cool. I can tell you that if a YouTuber did that, there would be videos made about it. There would be hate. There would be hate on Twitter. Zach XBT would be on the case. Who knows? OK, so do we have our likes or don't we have our likes? Can I go home or there is another story here? Maybe if you support or and your like, sorry, National, Australia, National Australia Bank becomes a second Australian bank to build a stable coin.

And they are building on an Elgorand and Ethereum. So to hear that they're building on an Elgorand as well, if you like, if you're like there. OK, someone says five hundred likes to go. Are we going to get it or can I go home? I'll go. No movement. It stopped. Should I go home, or should I give it to you? All right. Let's talk about let's talk about seven tokens that I've never spoken to you guys about before. And then I think are actually probably worth a buy. And I'm gonna show you why they're probably worth a buy.

Okay, so where does this come from? It doesn't come from me. I didn't do the research myself. In fact, I saw this. And then I decided to use this guy's research and do research on top of his research. So who is this guy? The guy's Adam Cochran. He is quite a well known analyst in this space. He is very DeFi centric. So when you're listening to these picks, bear in mind that a lot of these picks are very, very, very DeFi centric. Now, this maniac is much worse than miles, because he wrote a tweet thread of 268 tweets. Now I know that most of you can't read 268 tweets.

Okay, I know you can't. He's got 268 tweets of alpha here. Really, really, really good alpha. I must be honest. He calls this a shopping list. He says, look, it's not a it's a shopping list that is today. And I've got to keep an open mind and I've got to, I've got to, as the market changes, I've got to be I've got to change it, he also admits that his shopping list last year didn't do very well. But then again, so did the market. So you know, we can't really measure He talks about why Ethereum is so good, et cetera, et cetera. Then he talks about a whole lot of other tokens. Now, some of them are really good and some of them aren't so good. So what I've done is I've taken this 268 part tweet thread, I've researched all the tokens that he spoke about in this 268 part tweet thread, and I've summarized it for you into one, two, three, four, five, six, six or seven tokens, which I think are worth looking at and worth buying.

Some have disagreed with him, but here are the ones that I actually agree with him. The first one is a project called Raid, no, hold on, before we start, before we start, don't DJN into these coins today. A lot of these tokens have ran just because he published his thesis, okay? So be careful. Also, we are expecting a little bit of a pullback. All I want you to do is put these on your list and when you're looking to buy the dip, my suggestion is add these to the list of tokens that you might be looking at. Do not go and DJN into some of these coins now because if you do, you're gonna blow yourself up and don't say I didn't sell you. So the first one that I like is one called Radiant Capital. What is Radiant Capital? Radiant Capital is built on layer zero. So remember the protocol layer zero, which is the best in my opinion, cross chain protocol. It's the same protocol that Stargate is built on.

Well, this Radiant Capital, allows you to lend and borrow cross chain. So how does it work? Well, users will be able to deposit collateral on one network and borrow on another network seamlessly. So imagine you could stake your native tokens on Arbitrum and borrow them on Polygon to ape into the next farm. So this is a lending and borrowing protocol, which allows you to lend on one chain and borrow on another chain. Now, let's look at, it's called radiant capital. Let's look at what the price is and how it's run. So I can show you how you shouldn't de-gen into this one right now, because if you do, you will get burnt. And then you won't say that run. You see how radiant capital is up 100% today. So you're not gonna de-gen into this today because now it's up 100% and we can't de-gen into tokens that are up 100%, but we are gonna put them onto our watch list, okay. The next one that I think is worth looking at in this thing, cause he goes into a whole lot of others, right?

So he goes into, let's look at all the ones he goes into. He goes into a lot of these ones. He goes into, see when he tweeted it for seven cents, it's not doubled. Be careful, don't be the product, don't be the one. Okay, you've got yearnfinance, YFI. I don't think that that's one that I wanna be buying at the moment, so I'm gonna pass on that one. Then you've got, let's carry on, there's a whole lot of other synthetics, which allows people to trade synthetics stocks and stuff like that. I don't like that because I think that the SEC is gonna clamp down on anyone trading synthetic equities. Cool, next one that he talks about that we like is in tweet 55, it's called Conic Finance. Again, do not de-gen into Conic Finance, even though we think it's really good. The reason why I like Conic Finance is because I agree with him. I think it may end up being one of the most important ecosystem projects you've ever heard of.

What Conic Finance does is it takes omni pools, which allow deposits to deposits their assets into curve and spread them across the different pools in curve to optimize API per dollar. So what is curve? Curve is a stable coin exchange. It allows you to swap between USDT and USDC and all the different stable coins. And people earn yield for swapping one stable coin for another. Now what this guy is doing, what this project is doing, Conic, is it is allowing people to create omni pools, which basically allow for automatic spread of API across multiple pools. So let's look at Conic and show you guys where to buy and why you're not gonna buy it now because otherwise you're gonna be the product. It's only up 2% today. However, that is what the chart looks like in the last week. So you see that it's going up from 3.15 a week ago to 7.20 now. So do not buy it now, but put it onto your list and I'll tell you when to buy it. Okay, I'm gonna tell you when I think it's the right time to buy it, it's not gonna be today.

Cool. Then he goes on and he talks about curve and FRAX. By the way, I do think FRAX is amazing. And I want you to read his synopsis of FRAX for you guys. So he talks about curve and he talks about convex and stuff like that. I don't think that I'm rushing into any of them. Even though I do hold a lot of curve already in my portfolio. Let's look at FRAX and he says, unlike some projects here, FRAX already clocks in a fairly large valuation. Okay, he talks about FRAX and he says, a couple of things around FRAX. The first thing around FRAX is, let's just go here. He says, okay, FRAX. He says, FRAX, the consumer of all, FRAX is getting tough place.

FRAX is getting tough to place in any one category. It's becoming a monster of DeFi. Started off as an algorithmic stable coin. And then when algorithm stable coin narrative collapsed, FRAX started to launch a whole DeFi ecosystem. They started to launch an AMM. Now they've launched liquid staking and they started to expand. So FRAX is definitely one that's on my buy list. Now let's quickly look at FRAX. I think it's a FRAX is FXS, right? Let's have a look here. Yeah, I love it when CoinGecko does this, but let's try that again. FRAX has moved.

We've been following it for quite a while and FRAX has been one of those tokens that has moved. Okay, now we need FRAX share. We need FRAX, not FRAX share. Okay, there we go. So we need FXS. So it's $9. Again, I'm just showing you where it's come from in the last 180 days. It was $4.50 a few days ago. This is one to get into, but be careful. You want to be buying this one on a dip, but you definitely want this one in your portfolio. If you believe in DeFi, if you don't believe in DeFi, well, don't do it. Then next one that he talks about, which I really agreed with him is Cosmos.

So I haven't been a buyer of Cosmos, but I read his thesis on Cosmos. And look, I love Cosmos because Cosmos is an amazing interoperability technology. The problem is that the token, the token doesn't represent the value of the whole ecosystem but just represents the value of one chain in the ecosystem. And so for me, I may start nibbling on Cosmos, which is something that I haven't done before. So as I said, these are all tokens that I've never told you to buy before, but I'm actually changing my tune now and telling you guys that I think you could put these onto your list. All right, the next one that I like in terms of his suggestions is one on tweet number 160. So let's go to tweet. You see, I summarized 268 tweets worth of alpha. So you don't have to go and read all of this because you could die of boredom reading on this. In fact, data says that three people have already died of boredom going through 268 tweets. And another two people died of boredom reading miles of tweets because miles also loves long tweets. So this is the one that I like, it's called Kanto.

Kanto is a Cosmos-based EVM chain that is taking a radical design approach to public goods. Get this, Kanto aims to replace fee-extracting infrastructure where you and I pay fees with designs that help reward decentralized public goods. So for building decentralized public goods, okay, you get, for building decentralized protocols, you get rewards, such as having its own built-in native lending protocol and AMM. So Kanto is another one, which I think is very good. The last one that I really like here, in fact, there's two, but one I have spoken to you guys before. One of them is Luxray, which I think is probably worth looking at as one of the plays in your portfolio. But the one that I like here is on tweet number 217, 96.4% of people didn't get to tweet 217 because they got distracted along the way because they couldn't read that fast, they couldn't read that much. And as I said, a few people actually died trying to get there, but this is the one, Kucoin token. So Kucoin, there's been a lot of fight around Kucoin and people were talking about Kucoin maybe going down. I don't think Kucoin is going down. And in terms of the long-standing exchanges, I don't know if you can get more sketchy than Kucoin. If the Dollar General or Wal fer House, okay, it's the Dollar General, Wal fer House or crypto exchanges.

So why on the list? Well, this is a cockroach. It should have died 80 times, but it just keeps going and that's exactly how I feel about Kucoin. It's always been an exchange that just keeps going. And I think it's undervalued. Okay, so my feeling is that that's another one. So those are the tokens that I've given you. I've given you six or seven tokens that I generally haven't spoken to you about, but I think that you could put onto your buy list. But as I said to you, do not buy those tokens today because on most of those tokens, you guys, if you bought today, you guys would be the product, you guys would be the exit liquidity for other people that have read this tweet, you see? All right, so again, a reminder, that if you want to have this watch, referral link below or any archaeological referral link, Open an account on W 71 BRCIT, and every trade that you make, what a beauty. Every trade that you make gets you one entry into the Rolex selecting We send the Rolex anywhere that you want in the world. Except Russia.

We can't send it to Russia. Then if you are Russian, We bring you here so that you can take the watch and then you can go back to Russia. And then the second watch is the Sab Mariner, which is the black one, it's such a beaut. Any trade on BRCIT gets you an entry into the competition. North Korea, no, we don't send the watch to North Korea, but people also aren't allowed to watch our show in North Korea. And you know, people also aren't allowed to trade on backward and Wait Get in the United States. But a lot of people have heard rumors, it's just rumors I can't confirm with it. And I I think it's just rumors that some people use a VPN like NordVPN, of which by the way, there's a referral link in the bottom here. And then they seem to be not in the USA because a VPN allows you to say that you're somewhere else. And a lot of people have actually asked us because, I mean, it's all rumors. It's all rumors, but a lot of people have come to us in the discord, in our discord. And what they asked us is that if they have an account on Bibert and BitGit and they used a VPN to open the account, will we still send the watch to the United States?

Now we don't believe it. There's anyone in the United States ever that, um, would use a VPN to trade on Bibert or BitGit, but if they were, let's just say they were. I guess we would have to send the watch to the United States. We're not going to ask any questions. But I don't think anyone would do it. Just sounds crazy or what, why would anyone do that? Nah. But if they did, we would send the watch the United States. I'm just saying. If that was the case, we would send the watch the United States because we have to, cause a winner is a winner is a winner. And if you tell us that it's in the United States, then well, then we have to send you the watch. I don't know.

Maybe you're on vacation there. We're not going to tell anyone. We're not going to tell you all right. Let's quickly check on my short before I wish you guys well until tomorrow. Nothing, no action. The patient is dead. 16. Let's check on Bitcoin. 20,840. Not bad. Not bad. Not bad.

Let's check on the bubbles. Nothing happening on the bubbles, which means that I will see you guys again tomorrow. Till then. Try it on my friends.

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