THIS Altcoin is CRUSHING The Others! (WHY It Won't Stop!!) - Transcripts

January 18, 2023

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New data shows which of these Layer 1 Altcoins will be the best-performing Altcoins over the year 2023. Tune into today's episode of Crypto Banter for the latest crypto market update with Crypto Man Ran, and watch this trend carefully! - - - - - - - - - - - - - - - - - - - - - - - - - - - - ⚠️ 𝗕𝗘𝗪𝗔𝗥𝗘 𝗢𝗙 𝗦𝗖𝗔𝗠𝗠𝗘𝗥𝗦 𝗜𝗡 𝗢𝗨𝗥 𝗖𝗢𝗠𝗠𝗘𝗡𝗧𝗦 𝗔𝗡𝗗 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗬 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦 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 Show Summary & Intro 02:26 Bitcoin Price Rally Explained 06:07 Rolex Giveaways - How to Win 07:00 Fetch AI FET, Lif3 & LShares & BTC 09:15 S&P 500, PPI Numbers & Put-Call Ratio 10:52 DXY, NASDAQ, Coinbase 13:45 FED Meeting, Inflation & Recession 15:50 The Reason for this Bitcoin Pump 18:00 The Leading Blockchains 2023 20:03 Blockchain Development Growth 26:55 Daily Active Blockchain Addresses 27:38 Polygon & Cardano 29:54 Crypto Banter Twitter Spaces Today 30:20 FTX News - FTX Liquidity & Holdings 40:54 Crypto News Today and Q&A 𝗠𝗼𝗿𝗲 𝗩𝗶𝗱𝗲𝗼𝘀: WATCH MORE CRYPT SHOWS WATCH CRYPTO BANTER SPECIALS HERE 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀: Altcoin News - Bitcoin Price - Bitcoin 2023 - Bitcoin Price Prediction 2023 - Bitcoin News - Bitcoin News Today - Crypto News - Crypto Market - Crypto News Today - Top Altcoins - Bitcoin Target - BTC Price Target - Cryptoman Ran - Ran Neuner - Decentralized Leverage Trading - Banter - Banter Crypto - Crypto Banter - Crypto Banter Today - Crypto Banter YouTube - Crypto Banter Live - Best-Performing Altcoins - Altcoin Data - Blockchains 2023 - FTX News - FTX Holdings - Bitcoin Rally


I look at these prices today, Ethereum's running, oh please, Ethereum's running, oh well there you go, GameStop, let me get in that one before it gets to 450, let me get in that one because that thing's about to break out.

I think Ethereum is terrific, I'm a believer and I think that you can easily get 35-40%. Don't be that guy, don't be like Jim Cramer, don't be the person who hates this rally because regardless of what these naysayers are saying, I'll tell you one thing, tell you one thing, I'll tell you one thing. Bitcoin doesn't care because we're breaking through the FTX level, I'm gonna show you one or two reasons for this pump because I think we've uncovered what the real reason for this pump may actually be. Also, we've got the PPI numbers today which were absolutely good, unbelievable. So that's great for the macroeconomy so I've got a synopsis around the macroeconomy. And then we're going to talk about which layer one is going to win the layer one race. There is a new study that was out, which is a super important study when it comes to layer ones. And I think that based on that, we've got a clear winner. Let me know who you think the one is going to be. They may know if you think it's Commoner, solana, Matt,ic or any other one. Let me know. Let me know.

They know it's going to be a big show.

Let's have some fun. Let's do this guy.

Get the fuck out of bed. Let's go. Wakey, wakey rise and shine here we are again and this time, if you look at bitcoin, we are breaking through the FTX resistance. In fact, that line should be a bit straight so you can see we're gonna break through the FTX resistance and I think once we break through this FTX resistance we've got another stop over here which is $21,890 but that's a small stop. That's for where only a few people are going to get off the bus and then $22,785 and then $25,283 and I think we've got a whole lot of indicators now that are showing us that it is this is not a fake pump. This is not what El Capo thinks that is this actually could be the real thing after 400 days of a bear market. It could be that we are finally getting a real pump which is amazing because you know if it's true if it's true I just want to show you give I want to give you guys some perspective because let's assume for a second that that I'm right. It would be the first time in a long time I know no no not kidding just let's look at what this pump actually means so look at this let me quickly uh man hold on a second let's go back quickly um let me show you guys what this pump actually means in the big scheme of things so that you guys get some perspective of where we are for those of you who think oh we've missed the pump look at this pattern on Bitcoin look at how far we've come from the all-time high now remember in these cycles generally Bitcoin goes over the previous all-time high that's how all these cycles have worked so if indeed we have really turned the corner and it does feel like you know we've broken through the 200 uh the 200 day moving average we've now broken through the FTX resistance I'm going to show you a couple of other things that we've broken that we've broken from and you know what it feels bad to be going against the pump so don't be that person going against the pump. I know I'm feeling it on one of my trades as you know I mean I've got a 100 long positions. In fact, I've got one long position where I think I've got a 100 Bitcoin long position open. I'm feeling it on one trade As you guys know, if you're not on my Avax trade, it's $10,000, I'm $10,000 done. I will cut this Avax short at some point.

Even though on the charts, it's actually, let's quickly go to the Avax chart. So let's quickly go and get an Avax chart and just have a look at what it looks like on the chart. Again, like I said, I'm not comfortable in the short, but I've got to find a good opportunity to be getting out of the short. Now here, you've got a bull flag, which is forming. You can see it. Let me try and maybe get on the four hour. I think that would probably be a bit better. You can see quite clearly that there's a bull flag, which is forming here. And usually what happens with these bull flags is that they break downwards. They don't actually usually break upwards. They break downwards. So there we go.

You can see it coming down here, but let's see, let's keep watching this trade. At some point, I'm going to get a stop loss and at some point I'm actually going to get out of this trade. Anyway, listen. We've got a lot to talk about today. Good. We're going to talk about the best layer one, the most superior layer one. We're going to talk about FTX. There's a whole lot of new news regarding FTX, good news and bad news. I'm going to update you on my call with Kyle from 3 Arrows Capital. So I had a call with Kyle Davies from NaGTX and 3 Arrows Capital. And I've got some good feedback for you guys based on the show that we did yesterday. What else?

What else? What else? What else? What else? What else? FTX. We've got the developer report. We've got Polygon news, Cardano news. Yeah, a whole lot of stuff. So listen, what do you need to do? Subscribe to the channel. As I said to you guys before, we are growing extremely fast in this bear market.

In fact, I think we're one of the only major channels that's growing in the bear market. That's testament to how strong our community is. So much love for you guys. So, so, so much love for you guys. Give us some love. Give us some love give me crypto said bull flag. So yeah. Give us some love. Subscribe to channel, like this content. Remember also that if you want to win the Rolexes, two Rolexes up for grabs. Here they are. In the buy a bit promotion, you can win this blue and gold Submariner, which is beautiful.

And on the BitGet promotion, you can win the classic Submariner anytime between now and the end of Feb. So all you need to do, subscribe, sign up to the exchanges using any one of the crypto banter links. If you don't have a link, go to the link, get one of the links below, sign up using the links, make a trade. Every time you trade that go, that's like an entry into a box. And then before the end of Feb, we choose the winners, um, of the watch and I think it's an, I don't know any other channel that's doing a giveaway like that. Sorry, I just don't know anyone. All right, let's go, go, go, go. Go. Um, let's go, go, go, go, go. Someone says, so let's find out if my bet regarding, um, ADA was right. Tell us, tell me what your bet was regarding ADA. Someone says let's look at at, let's look at fetch.

Let's, let's, let's actually look at all these tokens while we hear hold on a second. I'll share my screen with you guys. We are using a new system. So it could be a bit slower than normal. Let's try. Um, what's fetch their FET. There we go. So 27 cents. I want to see Harry's tokens cause someone actually mentioned that they are moving up. Let's look at life and L shares. Okay. Slightly up, not, not huge up.

Remember when Harry is on the show, the L share was at about $284, 336. Not bad, not bad. Um, in fact, let's, I think the best way to start is to look at the bubbles. Uh, we've got engine app, we've got cheaper in your app. We've got FTT down. Thank heavens it's done. I did tell you guys that I thought it was worth a short. Um, fracks taking a bit of a breather. Aptos taking a bit of a breather. The only one that's not taking a breather is the one that I'm short at. Don't get it. I don't get it.

I know as soon as that close the short, the whole thing, the whole thing is going to collapse, I know the whole thing is going to collapse. All right. Let's look at the charts that I'm looking at. So the first chart, obviously the master Bitcoin doesn't care about what anybody else thinks or what Jim Cramer thinks. Um, it is breaking through that resistance in what is the second longest winning streak that Bitcoin has had ever in its existence. So we had in the beginning of January, we had a 14 day winning streak for Bitcoin. In November, 2013 was the only other time that we've had 15 days. And then afterwards there's two 10 days. That's the longest winning streak. So we have had an unbelievable start to 2023. And I think, uh, someone says it's, if it's called manipulation of FTT, it might not be, and I'm going to show you something today in the FTT filings. Um, we are going to look at the GMX indicator.

The GMX indicator is still calling for a slight, uh, a pullback. Um, but I do think even if we get a slight pullback, I didn't expect this level to be broken that easily cause this is a key level. This pre FTX level is a key level. Um, what we probably could get you as a little test done and then maybe app and form the cap and handle. Um, I mean, look, maybe if Bitcoin's got the power, we can, we can outbreak through it. I think the chart that we need to be watching is this SNP chart because as much as the stock market doesn't excite npjens we have to watch the stock watch the stock market is doing. Thing is when I look at the stock market chart, it is testing this resistance that it's been in for a year. This is a trend that Downwind trend in the stock market's been in for a year, but we did get data today, two bits of data today which show that this could actually break. I didn't think that this resistance would actually break that quickly. But there is a chance that this will break. I'll show you two bits of data that show that this will break. First bit of data we had today was macro data.

We had the PPI numbers out. and they were good. So PPI is the producer price index. It shows how producer prices are coming down. It came down by half a percent where the estimate was that the pricing would come down 0.5%. This bodes super, super well for inflation. The other bit of news that we've got which could make the stock market break up, why I think the stock market could break up. And you can see the S&P is testing this 4,000 level. Now this 4,000 level is a key, key, key level, okay. So that's a key level. So the other, well, there's three bits of new. So the one is the inflation.

The second thing is the put call ratio in options on the S&P shows that there could be a huge short squeeze in the works. I mean, this is data, data is showing us that there could be a huge short squeeze. There could be a huge short squeeze here in the works. All right then the next chart, which I'm watching, which is collapsing, is the Dixie. Now, remember today we had the Bank of Japan meeting. Remember essentially there was a big Bank of Japan meeting around yield curve control and whether it ever going to start change their policy. So that passed and they decided not to change their policy. Everything remains exactly the same. And so where we are now is it'd be getting the dollar index weakening. Now I wanna show you something, I wanna show you something here. Earlier on today, during that the meeting, what you can see is that the Dixie shut up. So the Dollar Index, this is a Sky Lens...

We're looking at the one hour charts now. The Dollar Index shot up and a very encouraging thing happened, when this happened. The Dollar Index shot up and Bitcoin did not go down. Which means that Bitcoin may be following the same path as gold and I'll show you what the path is. So gold has now started to become this ante-dollar trade. So it's the inverse US dollar trade. How does the inverse US dollar trade work? Well, when the Dixie goes up, this goes up. Dixie goes down, this goes up. And if you look at this dollar index trade if you look at the dollar index, it's going down, gold is going up. And I think that Bitcoin is actually going to start following gold and become this digital store of value while the layer ones become much more of this tech place. So let's keep watching that.

I think no doubt we can see that the Dixie is now one on the way to the 98 level, which is really the next real resistance is somewhere around 98. And it's from a long time ago. So I think the next stop for the Dixie is 98. That's why I'm convinced that this pump is actually gonna continue. So that's one of the other ones that I'm watching. NASDAQ doing exactly the same thing. Specifically, I wanna show you one of the tokens in the NASDAQ, which is Coinbase. Because you have to give credit where credit is due. Cathie Wood was buying Coinbase at $30 and $34. And she's now got the Coinbase shares at $55. We were telling you to buy, someone says my screen is not clear, is that right? We were telling you to buy this Coinbase at $30 and $33.

Now you got Coinbase at $55. Someone says, close your short now. Let's have a look here. What's going on with my short? No, no, I'm good, I'm comfortable. I'm comfortable I'm gonna get a chance to close the short. I'm fine. I'm gonna put a stop loss in there. I'm gonna put a stop loss in. All right, that's that. I think let's go on to some of the other big news items. As I said to you, the one good thing that we had today was we had inflation down, the PPI down, which is good.

The reason why that's good is because I think what's playing out here is that you see the Fed has a meeting, they have a FOMC meeting on the first of Feb. And on the first of Feb, 95% rockets, we going up by 25 basis points. Then in March, so let's go in March, they talking about going up another 25 basis points. But then look what happens from there. May, which is the next meeting, we stay the same. June, which is the meeting after that, we stay the same. July, which is the meeting after that, we stay the same. September, which is the meeting after that, the same, maybe a little bit higher, maybe, November, same, December, same. So what analysts are starting to predict now is what I said to you, I thought was gonna happen. The Fed's increased interest rates, and the fastest rate that they've ever increased interest rates before, yes, it's the fastest that they've ever done that. That should put the US into recession soon, so probably, by Q2, the US goes back into recession. And then, what does the Fed have to do?

Well, the Fed has to start loosening, has to start loosening. So we want a recession as quickly as possible. We want a recession. Give us a recession because the sooner we get this recession, the word that everyone's scared of, the sooner we get that recession, the sooner the FED has to stop what they're doing and say, okay, hold on. We've heard the economy too much. We've gone into recession. Now let's get it out of recession. How does the FED get us out of recession? Well, they start cutting rates. That's what they do. So look here. You can see that Charli B inclusive.

This is the market expectation. The market expectation is the Fed will start cutting rates by November 23. So here, already we should be in the rate cut part of the cycle, which is quite late in the cycle. They're also going to change how inflation is calculated. And by changing how inflation is calculated, it should make the CPI look better than it was if you compare it on a year-on-year basis. So that's another bit of good news. So that is the good news on The Macro Front. Some other good news, we know now what the reason for the Bitcoin pump is. And you would have never, ever, ever guessed. If I would have said to you that this is the reason for the Bitcoin pump, you would never, never, never have guessed what the reason is for the Bitcoin pump. I'm willing to give a hundred dollars in cash right now to anyone who can guess what the real reason for this Bitcoin pump is. And I'm going to play your video in a second, in a second, I want you guys to guess what the real reason why Bitcoin jumped from here.

Here we go. Why did Bitcoin jump from here to here? From there to there. Come on. Come on. I need someone. I need someone. It is institutional buying, but why? So I think I've finally found someone who wins the prize. And that's Tucker Carlson.

Huge amounts. Huge amounts of Bitcoin. Almost all ransoms like this are paid in Bitcoin. So if the US government was buying huge amounts of Bitcoin in order to pay a ransom, Bitcoin prices would surge, of course. So the question is, has that happened? Oh, yes. It has happened. Since the nationwide ground stop last Thursday, the price of Bitcoin has shot up about 20%. Is that a coincidence? We asked Pete Buttigieg to come on the show tonight to let us know. Unfortunately, he did not respond to our request. So we'll keep asking.

Listen, I've heard some smart things come out of Tucker Carlson's mouth, and now I can say that I've heard some really, really, really dumb things coming out of Tucker Carlson's mouth. What he's saying, he's alluding to the fact that remember that airline computer technical issue, which grounded all planes in the US, he's alluding to the fact that this was a ransom attack and that the US government of all people had to buy Bitcoin on the open market to pay the attackers and that is what sent the price up. I mean, I've heard some stupid things in my life. That comes close to taking the cake. That really does come close to taking the cake. All right, listen. Who do you think is the leading blockchain or the three leading blockchains when it comes to the most important metric when it comes to the most important, most important, most important metric in valuing blockchains. And I think I want to remind you what the most important metric for valuing blockchains is. It's not transactions per second. It's not total value locked. It's not a number of active addresses. It's none of those.

The most important metric in valuing a blockchain today is develop activity? Because remember that what happens is, when you get a good blockchain, and developers are building the smartest minds in the world are actually building this blockchain, and developing applications around this blockchain, they bring in the VCs, because the VCs follow the brains, right? The VCs then, put money in, and then the devs can build cool applications, those cool applications, of course, bring in users, users bring in transactions and active addresses and total value locked, which I call the vanity metrics. So there was a study done. People are saying pulse chain. Pulse chain hasn't launched yet. People are saying near pulse chain, arbitrum, soul, et cetera. So there was a study done. So remember we're all about data. So I'm just going to show you the data and then you guys can judge for yourself. But before I show that, I want to just give you a little bit of context here. So the data was, it was around a survey which was conducted by electric capital.

Electric capital is Avishal's company. You know Avishal because he lives, he comes on Banter and he's coming on Banter this Friday to discuss this report a lot more. But this data analyzed all the blockchains and specifically it analyzed one subset of it which was open source repositories. So obviously you can only know what developers are building when you look at open source repositories, otherwise you can't really know, okay. So they did an analysis and in a nutshell this is what it looks like, okay. This is in a nutshell what it looks like. The chain with the highest number of devs is Solana, no it's Ethereum. And after Ethereum, after Ethereum, the chain with the highest number of developers is Solana followed by Polygon, followed by Nia, followed by Kusama, etc, etc. But this chart here doesn't tell the whole story because this is a report which is about 185 pages. I'm not going to bore you with the detail but I do want to show you all the research that we had to do to get to where we got to. So this is where it is. And there are a couple of very, very, very interesting learning from the report.

I'll show you one thing. So for one, we had a huge spike in developers moving to blockchain. Now I know that this looks like lines on a chart but this is 61,000 of the smartest people in the world who have now moved into blockchain to start developing. And what you can see is that in 2021, between 2020 and 2021, when we were in a raging bull market, we got a whole lot of growth. Between 2021 and 2022, we got growth but not as much growth. And that is because when the prices went down, the developers, I won't say they abandoned ship, but they reconsidered moving. So that's the first thing. Let's look at some of the other metrics on this report. So the first thing that we need to look at as they say over here is let's look at it. So monthly devs grew 5% while prices were down 70%. Let's just quickly go a little bit further down and I'll show you a whole lot more. So here we go over here.

So while prices are 2018 level, developer ecosystems are multiples bigger. Bitcoin is three times bigger. Ethereum is five times bigger. Solana, Polygon, Cosmos, and Polkadot grew from less than 200 devs to over a thousand devs each. So if you're looking at the most active, biggest developer communities in crypto, you've got Ethereum, Bitcoin, Solana, Polygon, Cosmos, and Polkadot. So why is that important? Why are these metrics super important? Well, here's the problem. Bitcoin is only one place that you can invest in. That is, of course, Bitcoin. And I'm assuming that if you're watching this show, you're holding some Bitcoin. And if you're not, you should probably go and you should go and buy some Bitcoin.

So that's the first thing. Then you've got Ethereum. Ethereum has by far the highest number of developers. Let's have a look here. So December 2022, they had 5,819 developers. It puts them leagues above everyone else. You can see that's where Ethereum moves. But they're not the fastest growing blockchain. In terms of fastest growing blockchain, you've got Polygon, Solana, Cosmos, and Polkadot, which are all clustered over here, which are fast growing blockchains, all with over a thousand developers, full-time developers. And leading that is Solana. Under that is Polkadot. Now, that's super interesting because generally, I must say, I haven't been backing Polkadot very much.

Maybe you should be paying a little bit more attention on Polkadot because there's no hype around Polkadot. Thing is, this is the metric that removes all the hype and actually says, let's just look under the hood and say, what is actually being developed? Then there's Cosmos. Now, the problem with Cosmos is that you can't really invest in Cosmos because Cosmos is a technology. And the token, the Cosmos token, like the ADAM token, doesn't capture the value of the amazing Cosmos ecosystem, amazing Cosmos technology. So as some people are saying here, you can invest individually in all the others, like Juno, Akash, Osmosis, and there are a whole lot of others that you can say it. Someone says, I ran struggles to say XRP. And to be honest, I looked everywhere in this report. I could not find any mention of XRP. So here is the chart. Here's the chart. I could not find any mention of XRP.

Here's the chart. Look at it for yourself. You can see where all the big active developers are. Solana, Polygon, Niek, Kusama, someone BNB, and then Cardano coming up after that, ICP, et cetera, et cetera. So that's another big takeout from the report. Let's look at some more takeouts from the report. Bitcoin has 920 active monthly developers. Bitcoin is slow and steady. Ethereum has 5,800 developers. It's by far the biggest ecosystem out there. Let's go a little bit further. It takes years for developers communities to reach critical mass.

Polkadot, Ethereum, Solana, and Polygon years to grow to 1,000 plus developers. Polygon, Solana, Niek, Kusama, and BNB chain, all, it took them longer than four years to get to 150 full-time developers. So you can see the speed at which they get developers is super important. Now that brings me to the other chains, like the Aptos, the, I want to just show you over here. I think they have about 70 or 75 developers this quickly. Let's just see if we can get that slide where we can see the total number of devs. So there's 180 pages in this report. So let's go through a few and see if we can find some. So long reporters. It's really long. I can go through it. But the one impressive thing here was if you look at Aptos, Aptos got to a relatively big small number quite quickly.

Let's just see if we can quickly find it. Here we go. So if you look at, is it this one? Here we go. So look at Aptos, around 75 developers, but it got there pretty quickly. If you look at, and that's kind of where they are today. And the same thing with Sui, 60 or 70 developers, but they have a long way to go before they start delivering. So now that we have this metric, now we say, okay, hold on a second. You want to be super smart? You've got to compare both metrics. You've got to say, look, do we have the right developers? Are the developers actually developing?

And are they developing cool things that users are actually using? So you kind of want two metrics. You want to say, are the developers and are the developers actually developing shit that they should be using? And so that's when I correlated back to this chart over here, where I look at things like the total active addresses. And you can see that it aligns perfectly. You've got Selena, Ethereum, Polygon, and Nia. Those are the four top ones in terms of daily active addresses. And the same thing happens here. Selena, Polygon, Avalanche, Ethereum, Nia, when it comes to daily transactions. And then you go and compare that back to the developer report. And you can see it's pretty much the same. Selena, Polygon, Nia, and of course, as we said, Ethereum.

So that's what we're looking at. And now you've got to say to yourself, okay, what do I believe in? Do I believe in business development? Do I believe in the best tech in the world? Do I believe in the best developer communities? And based on that, you can make a decision as to which blockchains you want to be investing in. So you look at, for example, Polygon. I mean, they are business development marketing masters. They did this deal with Reddit, which gave them 6 million unique addresses. You can see the active addresses are growing very quickly. They've got this partnership that they announced with Mastercard earlier on in January. They announced a whole lot of NFT collections with the biggest brands in the world, Nike, Prada, Dolce & Gabbana, Coca Cola, Meta.

These guys are beasts at business development. Selena has the biggest community, but these guys are beasts in terms of business development. I was trying to make a case for Cardano. I was looking for Cardano, because I hold Cardano. You know, I hold some Cardano. And I was looking to see, but I just don't see it in the dev community. You can see where the dev community I'm not going to say it's non-existent, but it's not where it needs to be, that's for sure. So I think that's one metric. I did look at some other metrics on Cardano, so I mean, I looked at, let me show you what I was looking at earlier today, just to validate the thesis. And based on this, I'm not buying any more Cardano. I am actively buying Solana, I'm not buying today, but I am actively buying Solana. The one positive thing here, you can see the number of transactions on Cardano in the last year has almost doubled.

It's doubled. And if you look here, that gives you the number of addresses versus the price. You can see the number of active addresses has doubled. But I didn't get what I wanted to get out of Cardano, I just didn't want to do that. I didn't see that. Alrighty, so that's that. Again, I'm reminding you, if you want to participate in the Rolex competition, go, go, go sign I'm up with the links below, you know what to do, and stand a chance to win it. Let me know in the comments which one you want! Which one do you want? Do you want the b****D1or or do you want the a Redei D1? Do you want the blue or do you want the black? If you had a choice, if I said to you, you've won, which one should I send you?

Do you take the blue or do you take the black? Let me know. Let me know. Let me know in the comments below. Also, by the way, after this show, we are doing a Twitter Spaces. So, let me quickly take you there so you can see what we're doing. Join us on Twitter Spaces. If you wanna jump in and talk, There's gonna be a whole lot of huge guests coming on the Twitter Space is today. So here it is. It's on my Twitter profile, there it is. Just go and set a reminder. Join us on the spaces.

It should be fun. It should be fun. We're talking about whether the bull market is back. We're talking about Suzu and Kyle's new venture, GTX. We're talking about a whole lot of other things. So it should be fun. All right, let's talk about FTX. I've got good news and I've got bad news on FTX. What do you wanna hear first? What do you want to hear first? Good news, bad news. You tell me.

You drive the truck. I'm just presented it. In fact, it's not actually even me anymore. It's an AI which is just presenting it. Looks like it's an AI. By the way, I have said I think that we've got three years left in being able to do shows before an AI could probably make a better show of us. I've seen some models of AI. All right, so the bad news is, now let's talk about the good news first. Come on guys. So the good news is that we got this thing from the regulator that says that they've identified about five, from the liquidator, 5.5 billion of liquid assets confirmed to date. You read what this is about and it said there's 1.7 billion of cash. Because they've got 1.7 billion of cash, 3.5 billion of crypto assets and 0.3 hundred million dollars worth of securities.

And so together they got 5.5 billion dollars worth of cash. When they look at the liquid assets, they say this does not describe any value of holdings of dozens of illiquid crypto tokens. Now, I'm going to show you something here, which is a contrarian view. If you look at the assets that they're holding, they're holding tokens, they're holding funds, investment in funds which is Sam Banckwood-Feid was a genius. He would go to a multi-coin capital and he'd say you invest in us so I'm going to use that money to invest in your fund. That's what he was doing, so you can see multi-coin capital. We know multi-coin capital are big investors in FTX. And then we also know that FTX invested in multi-coin capital, right? So all these transactions, all these investors are now under investigation by the SEC. The SEC is investigating all of these things. So the good news is that there's 5.5 billion and more, and that money is going to flow into the market at some point in time. Okay, that's part of the good news.

The bad news is that I had a call today with Carl Davies. And we were talking about 3R's capital first, before we spoke about the new venture. And in the call, he said to me, look, do you know how much the liquidator is earning? The 3R's capital liquidator is earning. He said, no, I have no idea how much. He said $25 million a year. So the 3R's capital liquidator is earning $25 million a year, which is probably a case to say that the FTX liquidator is probably earning $100 million here. They have an incentive to drag out all these liquidations. So I asked them another question. I said, look, how long do you think before the entire FTX wound up will happen? In other words, when do you think that this money will be wrapped up and given back to the consumers or investors so we can have another $6 billion in the market to start trading? This is where the bad news comes in.

He said to me, it's going to take 10, maybe 15 years. And I said, look, that's crazy. He said, look, look at Enron, look at Bernie Madoff, look at Mt. Gox. All of those are 8, 9, 7, 10 years. And this is possibly slightly more complicated. And so there's good news and bad news in there. The bad news is that it's going to take a long time before FTX holders get their dividend, and can take a long time before this money flows back into the market. Someone says Mt. Gox money, still not available. He's right. There is some good news here.

I'll show you the good news. I know it's a contrarian view. But if you look at the tokens that these guys are holding, they're holding a whole lot of tokens including, so let's just see. They're holding $685 million of Solana. They claim that this is only liquid tokens. So they say, This is the liquid portfolio, OK, liquid portfolio. So remember that the lawyer said, yeah, I'll show it to you here. Hold on. Let's quickly find it. There were two tweets. Let's just quickly find it. Does not describe any value of holding of dozens of illiquid cryptocurrency tokens.

Now, that means that FTX have six hundred and eighty five million dollars worth of liquid Solana. And the good news is that if you think about a token, a token increases in value. The more tokens are locked up and the longer the tokens are locked up. Right. So like if people lock up their Solana and they become illiquid, that is a good thing, not a bad thing. Right. You'll agree with me on that. So my theory is that if this liquidation is going to take three, four, five, six, seven, eight, nine, ten years, whatever long it takes, and these guys only start distributing or selling the Solana in three, four, five years, this six hundred eighty-five million dollars worth of Solana is actually six hundred eighty-five million dollars locked up, won't be sold, won't be touched, won't change hands for the next five, six, seven years. And the same thing with all the Solana that they're supposed to be getting, Solana Aptos, a whole lot of the tokens they were supposed to be getting. Right. These tokens are now locked up and they're not going to be entering the market anytime soon, right? So to me, maybe this is actually for the short term, a positive thing, because we kind of know that these tokens, which previously could have hit the market, they can't hit the market anymore until and unless the liquidator actually do something.

The other thing is FTT. So they're talking about FTT here and they're saying that they have $529 million of FTT. Now, I don't know about you, but the only use case that I know of for FTT is it is the exchange token for FTX, which gives you a discount on the exchanges and is bought and burnt by the exchanges out of their profits. Right. You know how the, the FTX FTT mechanism work works. How do the, why would the liquidator actually assign a value to the FTT tokens? Crazy. Someone says, pump up the like button. This is embarrassing. How many likes are there? How many likes are there? Let's get this like button to 5,000.

If we get to 5,000, I'll be the happiest man alive. You guys will be the strongest community in the world. Smash it up. Help me get unshadowed. Now. We realized that it's only my show that still shadow band, Miles just showed, not shadow84, it's just me. It's just me. It's just me. Someone says an AI would start in time, we had some problems starting up, but we here, we here, so there's a whole lot of new technology in the studio. Um, so this is now locked up. These tokens are now locked up. Uh, Solana, the FTT tokens be careful because that means that these guys aren't in circulation.

And that could actually cause a short squeeze, which may have been what was happening in the last couple of days. My call to short, it was actually a good call. So I said to you guys shorted at $2.60 or $2.65. I think it's, it's probably now under $2 or close to $2.08. So you would have made you would have made good money if you're just taken if you're just taking that trade. Okay, so yeah, let's yeah, someone says Carl's never late. Someone says runs runs banned since Avax. I'll get out of this trade. I'll lose between five and 10 grand. But you'd have two releases, but still can't start on time. I can't get it. I get it.

I'll start on time tomorrow. Start on time tomorrow. Let's see what else is there regarding FTX. There's a lot of juicy news here regarding FTX. And they also seem to hold a whole lot of tokens that shouldn't be in circulation. They own 99.69% of all oxy tokens, 99% of all serum tokens, and 98% 98.7% of all maps tokens. Long term, that is really bad. Short term, if you believe in any of these tokens, these tokens could be locked up for years and years and years to come. So there's a there's two sides to this coin, right? There's two sides to this coin says FTX owns tokens that should not exist. 8 billion maps, 9.76 of oxy and 7.4 of media. So you know this now we've told you this.

Next thing here is, as I said to you, the SEC is investigating VCs who invested in FTX and assessing whether the VCs conducted their stated due diligence process. How's that? Here's a list of the investor in the VCs that invested. Pantera, Sequoia, DCG. DCG is everywhere. DCG is everywhere. Graylock Partners, Lightspeed, Sequoia, Multicoin, Coinbase, Coinbase Ventures. So now the SEC is investigating these funds to say, did you do a good enough due diligence? And if you did, how did you not pick up this piece of code? Over here, this is the actual code that gave Alameda unlimited collateral on FTX. So someone actually went and found this actual code. Also, so here's a very cool one.

So a report, and I think the report was again from Coindesk. Was it Coindesk? Yeah, it was Coindesk. Worked out that 196 members of US Congress took cash from Sam Bankman Freed. That means that one in every three Congress persons in the US accepted or took money from SPF. Now, the big question is, if you took money from SPF, are you going to return the money? 19 of the 196 who took money from FTX. They've stated that they will return the funds and the other 177 they are not returning the funds because they are just a bunch of corrupt politicians. That's all they are, a bunch of corrupt politicians. That's what we're dealing with here. That's what we're doing here. Also, we have a picture of the FTX property portfolio.

Where did I put it? It's going to be somewhere here. There it is, there's a picture of all the all the FTX property portfolios in Bahamas. So the penthouse units. Here we go. That's 166 million worth of properties. You've got property two, which is one property, but at 12.9 million, you got three properties valued at 28.8 million, you got one property valued at so this is all together in the Bahamas, $253 million of property that FTX bought. Remember yesterday, I said to you that the vegans at FTX bought $7 million worth of food in a couple of months. Told you being vegan is expensive. Is there other news? I think there is. There's a whole lot of other news actually.

Let's quickly open the news and see what is happening on the research group. Let's have a look here. Okay, so first of all, where is SBF now? He's at his parents house in Los Angeles. I hope he's at his parents house in Los Angeles. DCG has informed its shareholders that the firm is suspending dividends until further notice. They're about to go bankrupt. Suspending, suspending dividends. They're about to go bankrupt these people. Gaines Network, as we said yesterday, they starting to blow up because I think they introduced index futures yesterday. So exponential growth on GNS and Arbitrum, it's insane just over in after just over two weeks, half a billion dollars in volume now on Arbitrum. So that's big news.

There is this narrative around ETH staking, which I know you guys have been we told you about. You can see today that Rocket Pool exploded. So I think Rocket Pool was listed on Binance today. Let's see what it did today in terms of price. I know you guys have been watching that. What's the what's the what's the symbol for Rocket Pool? Let's have a look here. I think it's RPL is not yeah, it should be RPL. That's crazy. Maybe it's not maybe we're not getting it on on CoinGecko. So Rocket Pool was listed in Daniel Silva's is rubbing salt in my wound here saying that AVEX is the best token in. Oh, here it goes again.

There it goes again. Here it goes again. 1725, which means that Bitcoin must actually be running 21,500. I mean, you can see that this level now is history. You can see that this level now is history. I'll draw my line straight. Let's zoom in. So we need to close above that level. Yesterday, AVEX failed to close above this level over here. So let's see if it gets rejected again by the 200 day moving average. Let's let's keep watching it. This is right.

RPL is limit only on Coinbase. I said RPL looking up when I do RPL here. Here it is. There we go. Okay, so it was listed on Binance today. It's up. Let's have a look here. Here you can kind of see exactly when when the listing news came out that went from $32 to $42. So and it's now starting to come back down, which is good, which is good, which is good. Cool. I think what else? Let's see.

Let's do some Q&A. We've got some time here today. A couple of minutes. Let's see what's going on. Remember, remember, remember, we're going to spaces after this. Here it is. Here's the spaces on my Twitter. We're going to be here for about two, three hours. If you guys want to jump in and have a chat, jump in and have a chat with us. Yeah, Zach XBT looking into it. See that. How about ICP?

I think ICP is too much of an ambitious project. I just think it's too much of an ambitious project. And I think that when a project is too big, it's like it's the difference between saying I want to build a spaceship that goes to the Moon and saying I want to build a spaceship that can go to the Moon and then on the way stop over in Mars. It's just too much. Okay, someone says Bloomberg, US Justice Department, just go back there to announce cryptocurrency currency action at 12 p.m. statement. 1700 GMTs. When is that? Let's have a look. U.S. Justice Department. Let's see if this is even real news because we're getting it, you know, to announce crypto news at 7 p.m.

No, I don't think that it's happened. I mean, let's see. Let's see. We don't know what it is. Yeah, I think that inflation is coming down 100%. We've spoken about that before. Why does BitBoy love XRP so much? My feeling is he is looking to tap into communities. And I think that the one community that he's really looking to tap into is that, you know, there's two or three very, very, very passionate communities in crypto. XRP is one of them. Oh, it's true. Walter Bloomberg just says U.S.

Justice Department to announce action at 12 p.m. in a statement. Here it is. That's coming from Walter Bloomberg. 12 p.m. GMT. That's 1700 GMT. What time is that from now, James? OK, amazing, amazing. Donald Trump prepares for his return to Facebook and Twitter. That's some more news that's breaking at the moment. What else is happening?

I'm just looking through. I'm just scrolling through the research group to see if anything happened while we were live, because that's ideas to bring you like live stuff here. I don't see anything. I want to just remind you again, Avalanche partner with Amazon. That's not a rumor. That was announced last week. That was announced last week. I wonder if this news that there is that there is potentially cryptocurrency enforcement coming. I wonder if it's done anything. It hasn't been. Bitcoin doesn't care. The buying that buying pressure on Bitcoin is just too big.

Bitcoin doesn't care. And that's a great sign that to me says we may be, maybe, maybe we may be past the worst and we may be in bull territory. I see Fred has sent me something. Let me know if you want me to play it. It looks like it's a video and it looks like it's quite a funny video. Fred, OK, I've got two videos to play for you guys. You guys feel like doing some movies? Yes, no. Should be funny. All right. Let's let's let's play. I'll play one for

you. I love this one. Let me know if you like it. I love it. Thank you for being here for legal purposes. I actually just woke up an hour ago, threw on a suit and didn't even wash my balls. But it's OK. As you all know, I'm Jerome Powell. And let me tell you, inflation is a real pain in the ass. I heard some pours on the streets complaining about eight dollars egg prices. Like I was saying to my good buddy Koshkari that day, what could an egg normally cost man 10 bucks? Just seems like a lot of unnecessary complaining.

Back in my day, a G Wagon cost around 100 bands. And now almost twice that. That's why I really feel for the average American. Inflation is like your wife's boyfriend no matter what. But don't worry. We at the Fed know exactly how to handle it. We have tools in our arsenal to keep inflation in check, such as adjusting interest rates and pretending to reduce the balance sheet while the Treasury continues to do QI. As for interest rates, they're like roller coaster ride. I wish my wife would do that. Too bad you're stuck on this ride for the long haul. And as for bulls and bears, they're like two chefs for Putin trying to cook up a storm in the kitchen, one stirring a pot with too much force and the other poisoning it too lightly. But in the end, they both get pushed out a window for not following the recipe correctly.

Let's be real here. It's all a game. And we're the ones making the rules. As my mother used to preach to me when I was merely a baby suckling at her tip, fuck your puts, fuck your cuts, fuck your calls. J-POW will have you by the balls. What a visionary.

Anyways, I digress. Thank you. And I look forward to your questions. Legend. So Fred sent me another one. I think we're making this into a bit of a movie night here. Let me see if I can get you this other one onto your screens so that you can see this other one. I actually enjoyed this one because I think it's a fair. Hold on. Let me just do this. I think it's a fair representation of where we're at. Um, here we go.

I'll show it to you because you guys are just a bunch of legends. Uh, yeah, here we go. I mean,

if you want to see it, you know, you know. Oh my goodness. Now he's got the bat. He's just slices through him like butter. What did we say before this fight? Oh, no, no, no, no, no, no, no, no, no, no, no, no, no, no. He's going right at Dylan. Dennis. You're cost off to the title. You bastard. Get him here. Finally.

You want to

just put him out on top. Don't worry. He's going to get in there, right? I love the look on this guy's face. That is brilliant. That is brilliant. Doesn't guys much love see tomorrow before I let you go. Do let me know in the chat, which one is better black face or blue face, black face or blue face. If you were to get a choice of which one you want to win, do you want the black one or do you want the blue one? Black one, blue one, black one, blue one. Let me know in the chat. Love you guys, Maddie.

Remember to join us on spaces now. I mean, I'm expecting all 4,000 of you on the spaces. We're going to start the spaces in about 15 minutes. I'll see you guys there until then have fun. Trade while look after yourselves and let's just hope that this pump absolutely continues. See you guys tomorrow. See you guys on spaces.