Have to admit, reading in the bankruptcy filing about what was going on behind the scenes at FTX makes my blood boil. What did you think of the video? Don't forget to follow me on my socials for all the content that you are missing here 👉 guy.coinbureau.com/socials/. You may also enjoy my clips channel which has livestreams and shorter form content ua-cam.com/channels/R93yACeNzxMSk6Y1cHM2pw.html
The politicians said they will give their ill gotten gains to charity rather than the people that lost their life savings. This way the charities can send the money back later when no one is looking.
@@AncestryNutrition I'm pretty sure that since binace has a global version and a US version you can bet your ass that they probably are f***** as well. If you have to have two different versions to have a legit stake in the United States, you got issues
This is the best, most comprehensive analysis of the bancruptcy filing and the "structure" of FTX that I have seen anywhere......congrats and keep it up!
“Only ONE of the FOUR FTX subsidiaries has had their accounts frozen.” Translation: almost the whole of FTX and Co have had over two weeks to liquidate anything and everything they have remaining on their books to make sure the right people get their money back and/or get paid off. And people wonder why SBF hasn’t been arrested yet
Cover up? In the past, maybe. Now, the WEF, the politicians and the elites do not give a rat's ass anymore. They will just laugh in all the peasant's faces now.
Yes - for sure. So many folks made back room deals here and they are in US government. That is why Sam is still a free man. My guess is they will "off" him before he ever gets to testify
I’m wondering, is this the biggest financial scandal ever? How is it possible for such a large company to be completely ignored by regulators? Great reporting as usual.
Also, enron was a lot bigger but this will ripple through the crypto world and hopefully shake out a bunch of the loser companies. Myself I'll continue to hold but any trading will steer clear of centralized exchanges as much as possible.
Honestly this is kinda great. Scammers, frauders, and crypto trash getting swept out, long standing issues of trust and internal/external regulations will be addressed, a greater understanding of the need for defi, and during all of this a longer period to accumulate assets at fire sell prices. Confident that while scary, 2022 and 2023 will in hindsight prove to be massive wins for those who are able to weather the storm
I'm not sure I'd call it great. There is a high chance the US government was in on this, so don't hold your breath on any sensable regulation out of the USA. The US politics are too screwed up to produce anything of merit. Crypto is better off leaving the US behind.
Imagine it gets out that Garry gensler has been blocking bitcoin etf requests as per direction from sbf. Gensler hides behind wanting to "clear up the space" first, while sbf would benefit from less competition.
So they were clever enough to develop software to "cook the books"; however, they were so incompetent that they sent exchange crypto private keys via plain-text e-mail? This whole thing stinks to high heaven and I think it would behoove everyone to reserve judgement until more facts are disseminated. If that is even possible at this point.
ftx cannot get the bankruptcy approved and protect itself becuase the company never had the billions. it was fake. so their assets are worth more than the company so they can pay up. and cannot protect all the real estate!
@@kaewonf8 We will see.If enough protesting goes on, they may feel the need to sacrifice him, a bit like the Epstein situation. Thing is that if somebody disappeared, there are plenty of private islands around, where they could justify their existence may be for generations
Have to agree with your speculation why SBF is not in custody, it has appeared for some time that there has been a concerted effort by 'Sovereign' players to destroy the crypto market as intended to allow the easy passage and domination of CBDC's. Maybe FTX was always intended as a front to enable this.
this has been my thoughts... SBF is nothing more than your typical wallstreet trader. FTX/Alameda was created to launder and trade money and other parties were involved to profit from this and within the process to destroy crypto to eventually control it with heavy sanctions and regulations. as many officials slept on crypto and its evolution in the era of the internet and technology. SBF has zero knowledge on crypto which should of been immediately as a red flag after the first being a trader.
I still remember seeing FTX advertisements all over Australia, coining themselves as the "best and Australian owned exchange", I briefly looked into them and noped out because it just doesn't feel right for an exchange to also have some kind of hedge fund company.
This guy johns job is so cool. Imagine being made CEO of a company overnight with the sole intention of dissecting it. Like being made boss of the mafia but you’re trying to put everyone in jail
legacy media seems to have given up on appearing trustworthy. Not since Covid demonstrated the influence of their bias. Good example is Legacy media currently reporting on Ukraine as if their own 2014-2018 articles on Ukraine don’t exist and/or never did. Google is protecting them through completely filtering of the news search tab but web search will show some articles if using specific search keywords. DuckDuckGo is less filtered but will prioritise certain organisations and can require specific searches with some media cooperations (I wonder why…)
the question is, how everyone trusted this company in the first place, and the answer is simple, many powerful figures (probably government-related) recommended them, to other big players, and made a cascade effect from there
Don’t you think it could be possible that he was in cahoots with the SEC and other government departments to create a situation where they get to ride in and start regulating all cryptocurrency and save the little man?
Possibly, but all these details reads to me as Ponzi scheme to me with a side order of "buying politicians and government officials to regulate my way". Take note that the latter has been done by other companies such as Boeing and Abbott. It looked like he wanted to be able to perpetuate the fraud and, thus, fund his lifestyle for as long as he could.
tbh it just looks like teenagers being idiots because they have trash parents. if they get off the hook then that's correct. if they go to jail that's correct. they're evil idiots. you can be both
Hahaha! True. When the Crypto Exchanges ask to speak to you about your *Vehicle* *Car* *Insurance,* it will be to late to run to even a Stablecoin or Fiat.
I think this will be good for crypto as a whole as the average person will look at this and question why politicians etc. were so positive. Given the increasing distrust in centralized powers this could increase awareness of the need for decentralized permissionless networks DLTs & DEXs.
Sorry dude, but we are still the minority.The vaast majority of the world are either deluded by the Mainstream propaganda, or are simply too scared to confront it because they have enough comfort in their life that they feel that they Have to Much to lose, so either deliberately Avoid, or talk down any subversive narratives to the mainstream.This includes clever people, who can deny the obvious and deliberately not use the usual critical reasoning processes that they do in their profession and mainstream external financial affairs
@@thecoyote88 True that …. However you can not fault these guys … how would they know - FTX blind sided everyone you are talking highest levels of government, SEC, high profile investors… bit unfair to say CB credibility is in question. Corruption usually isn’t known until it’s too late brother x
@@thecoyote88 nothing wrong with FTX technology …. It’s the business management with a heavy sprinkle of fraud … but who knows about this until it’s exposed … gotta give bit boy an applause for this reveal
Regarding FTX using auto delete messaging, questioning why they would do that does not make someone a 'conspiracy theorist'. Destroying evidence is crime.
The only sollution to all these little games of institutions is educating people how to use crypto from wallets, not from CEXs. Thanks you guy for educating
Reminds me of Meryl Lynch/Enron back in the late 90s. My parents lost almost their entire retirement value. They sold and they should have held. If I sell my crypto I lose 65% of my value....I'm tempted to salvage at least the current 35% value but I will hold because I can't live with that loss and my plan was to be a long term investor from the start - however it is REALLY hard to watch all this and now I think crypto will be a lost cause in a few years now...if we ever get back to 65K BTC I think I might sell to break even.
Hold. There is a groundswell for crypto despite all the FUD governments are spewing. Crypto adoption is up in the minds of people because people know governments are just taking them for a ride and the current financial system is rigged to benefit the rich. BTC will endure and so will the larger eco system.
Stop worrying. If you hold Bitcoin and not any of the other garbage, it will climb back way more valuable very soon. Look at the network growth and adoption. It's inevitable and obvious to anyone that understands why Bitcoin is so valuable.
Thank you so much for this channel! You are always an invaluable source of info. Thank you for the work you do! So much love for you. Stay hydrated! We need you and we love you! 😘
It is an honor to watch your video again... The FTX saga is a big low for the industry. The fact that you keep updating the crypto community in times like these is enough motivation for me to keep updating my channel with relevant crypto contents.
1. Only use centralized exchanges for onboarding fiat, if you have no other choice. 2. Definitely don’t leave money sitting in an exchange or a web wallet like MetaMask. 3. Carry on as usual.
Imagine how many “unicorn”, “decacorn”, and “hectocorn” startups/companies are just like this but since they’re private we’re in the dark about it. Many might hate this, but this is why regulation/oversight is required
The Tether connection once fully revealed should be interesting to say the least. Looking forward to a follow up in that area. Thanks again for the in dept reporting on this comprehensive subject.
It's a set back but enough people know that Crypto has great potential, despite all the booms and busts and scammers that are still in the space. I hope there will be jail sentences handed out to all everybody involved, without consequences the takeaway really is everything goes and that would be a very bad signal for the space.
ftx cannot get the bankruptcy approved and protect itself becuase the company never had the billions. it was fake. so their assets are worth more than the company so they can pay up. and cannot protect all the real estate!
Trading is easier when you do so with proffessionals it really helps reduce the chances of running into losses. They are always ready to help you with the trouble...
20:49 SBF should be more careful- if you can be seen, you can be caught. Not by law enforcement. But by anyone. And given that he's affected _a lot_ of people, it's statistically guaranteed that there's at least one highly skilled, highly dedicated person out there, with nothing left to lose...
It's bizarre that they're using the term "silo", because the way the four entities functioned was the exact opposite of the way the term "silo" is used in the industry.
This could have been avoided if Gensler wasn’t in the prime SEC position. Every crypto collapse has been pretty much out on his doorstep. Lack of regulation and governance causes these issues.
ftx.us was fully US regulated and it did not prevent fraud or crime. To think that regulation prevents crime is about as naive as thinking cctv prevents crime. Also when the sums become big enough the criminals become friends of the political class, they become donors and 'friends'. Don't underestimate the power of corruption, the power of regulation pales by comparison.
Conspiratorial. Crypto is a magnet for con-men and grifters looking to get rich quick. The complete lack of regulation allows for this. Should be no surprise that this happens from time to time in Crypto. Particularly with crypto generally falling, a lot of crypto funds are going to go under.
@@MascotWP How do you write off the ties to the SEC, democratic donations, Ukraine money laundering, family ties to the democratic party, etc. (All facts) With the democratic party openly working create a CBDC (fact, it's in trial), letting alone moving forward with digital world passports (fact - G20 and COP27 speeches), how many coincidences would be needed to be not written off as conspiratorial? Remember how many conspiracies are now facts over the last 2 years.
I hope Sam's health holds up. I can foresee possible health issues or "lead poisoning" in his future if things get too truthful. Someone someplace isn't going to want their dirty laundry list being made public.
The SEC has been so inconsistent in its approach to crypto. Companies that seek guidance are not given it, but then they are fined for not following the inconsistent or invisible rules that are generally derived from prior policies that are almost a century old and not truly applicable to crypto. Meanwhile, we have someone who supposedly registered with the SEC but then was doing all of these things right under their nose. Where was the SEC to protect us, and where was the IRS to detect all of of these shady dealings? What's the point of hiring 87,000 new IRS workers if the ones who we already have aren't even able to spot something that should be so glaringly obvious to anyone that actually looked at any tax filings or record books that even existed? All of this suggests that when it comes to actual policy and enforcement, it's all about who your family and friends are, who you know, and who you are paying off.
People have been buying the dip since btc broke 30k, most are dipped out already, this buy the dip comment is becoming a joke, most folk at this stage have been absolutely crushed
The Dem politicians that enjoyed millions from Ukraine/FTX are going to give the money to charity. You or me would give that money back to the people that got ripped off, but the Dems will give it to charities that will give it back later.
Guy, please ask your sound peeps to use a DeEsser! High end of your sound is way, WAY too harsh and sibilant!!! Pity, as it spoils the overall good impression because the content you produce is really amazing, Cheers mate.
Great content Guy, but please bring back the two lights system you had. One key light makes everything too dramatic and its aging you with at least 10 years 😂 People might think crypto did that to you 😂
Great warning sign for the future, involvement with regulators.....Trying to build a safety net to prevent the owner's arrest instead of helping the market.
Felt so stupid not to look in the exchange I use, while I perform in-dept analysis of stocks I want to buy. Now that they seem more unstructured than I was at high school baffles me
Have to admit, reading in the bankruptcy filing about what was going on behind the scenes at FTX makes my blood boil. What did you think of the video? Don't forget to follow me on my socials for all the content that you are missing here 👉 guy.coinbureau.com/socials/. You may also enjoy my clips channel which has livestreams and shorter form content ua-cam.com/channels/R93yACeNzxMSk6Y1cHM2pw.html
Haven’t watched the channel in a few months- I like this new sitting down set up - seems more relaxing and to the point! Thank you.
The politicians said they will give their ill gotten gains to charity rather than the people that lost their life savings. This way the charities can send the money back later when no one is looking.
Can you do a research video on Binance and whether this event can happen at binance as well?
Binance doesnt appear to be much better.
@@AncestryNutrition I'm pretty sure that since binace has a global version and a US version you can bet your ass that they probably are f***** as well. If you have to have two different versions to have a legit stake in the United States, you got issues
"The game was rigged in their favor and they still lost"
Could be the best quote of the year for crypto.
When your trading skills are subpar, no amount of money (large sums) will save you from eventually going bust from trading losses!
i was thinking the same haha
It was all planned to go this way..
It was meant to go this way as part of the greater awakening
you are looking at this the wrong way. the operation was a complete success. mission accomplished. CBDC incoming.
How that guy is not behind bars already is beyond me.
Cause he’s worked with the WEF. They deleted the article of FTX on their website.
Connections up the Wazooo..is it Clear now Keemesabi??
He was washing for the elite. There is no punishment
because many government officials and media giants have ties with him
The world is ran by criminals. He's one of Thiers.
Sounds like a huge money laundering worldwide scam to me!!! 💁🏼♀️
Wouldn't be surprised if there were some drug lords and commercial banks involved.
@Benji H2O no such thing as decentralized
My money has shrunk on the wash 🫠
Welcome to crypto. Wait until you hear about NFTs
It was created to fund the democratic party and to be a catalyst for crypto regulation. Welcome to America.
This is the best, most comprehensive analysis of the bancruptcy filing and the "structure" of FTX that I have seen anywhere......congrats and keep it up!
Brilliant work as always Guy. 👍🏻
We live in times where these kinds of criminals walk free, the corruption is off the chart.
Comparing the FTX ecosystem to an iceberg is pretty apt considering most of it is underwater.
Boom
His mother raised him literally to not have consequences... This was inevitable.
Reminds me of this:
Never Cartesian : My mom says that any choice I make is okay, because I love myself.
Louie : Your m... your mom is wrong.
I doubt you will ever really know how his mother raised him.
@@whiskersredwood she wrote a paper about it.
Like most parents these days.
@@DirtySoap Yeah - she's a J Bolshevik. You think she'd apply that same logic to someone arrested for January 6th? Think again.
“Only ONE of the FOUR FTX subsidiaries has had their accounts frozen.”
Translation: almost the whole of FTX and Co have had over two weeks to liquidate anything and everything they have remaining on their books to make sure the right people get their money back and/or get paid off.
And people wonder why SBF hasn’t been arrested yet
Corruption runs deep with this one.
not to many "smart" "thinking" ppl out there is there...?! + nobody is ever gonna give them selves away, until they are rooted out, exposed.
SBF is a Democrat donor duh
A total disgrace.
and all you're gonna do about it is watch lol
They didn't have an Accountant department !!!!!!!! how dare they
my heart goes to those who lost their money I hope they get it back ASAP
This is going to be a cover-up of epic proportions.
Cover up? In the past, maybe. Now, the WEF, the politicians and the elites do not give a rat's ass anymore. They will just laugh in all the peasant's faces now.
Yes - for sure. So many folks made back room deals here and they are in US government. That is why Sam is still a free man. My guess is they will "off" him before he ever gets to testify
will be an epic Netflix doc, Fyre festival move aside
I’m wondering, is this the biggest financial scandal ever? How is it possible for such a large company to be completely ignored by regulators? Great reporting as usual.
1. No
2. Regulators and governments are a big club, and SBF and friends are part of it.
This happens with big companies all the time
Also, enron was a lot bigger but this will ripple through the crypto world and hopefully shake out a bunch of the loser companies. Myself I'll continue to hold but any trading will steer clear of centralized exchanges as much as possible.
You want crypto to be outside of the regulations... you can't then complain when crypto is found out to be a fraud.
I think the lesson here is: Don’t steal. The government hates competition.
😂😂😂. So TRUE
Nah, lesson is steal but make sure pay the politicians first so they will protect you in case you are caught.
@@thunderb00m truth speak do you.
Thats the good one 😂😂
Great quote. I'm going to use that one
Honestly this is kinda great. Scammers, frauders, and crypto trash getting swept out, long standing issues of trust and internal/external regulations will be addressed, a greater understanding of the need for defi, and during all of this a longer period to accumulate assets at fire sell prices.
Confident that while scary, 2022 and 2023 will in hindsight prove to be massive wins for those who are able to weather the storm
do we need THIS defy? just scam - ponzi schemes? no thanks
Agreed except for the defi, which is all built on centralized rails.
I'm not sure I'd call it great. There is a high chance the US government was in on this, so don't hold your breath on any sensable regulation out of the USA. The US politics are too screwed up to produce anything of merit. Crypto is better off leaving the US behind.
So you want different Scammers and fraudsters, then
@@TheChannel1978 They still can't regulate Bitcoin yet
You are still a voice of reason and confidence …. thanks very much to you and your team.
A very clear and concise video, could not have been easy preparing this while more is uncovered. Appreciate the content, well done.
Imagine it gets out that Garry gensler has been blocking bitcoin etf requests as per direction from sbf.
Gensler hides behind wanting to "clear up the space" first, while sbf would benefit from less competition.
the Alamed Res CEO's Dad is actually SEC top officials, u can not make this up.
*former boss of the SEC top official, but yeah (((connections)))
So they were clever enough to develop software to "cook the books"; however, they were so incompetent that they sent exchange crypto private keys via plain-text e-mail? This whole thing stinks to high heaven and I think it would behoove everyone to reserve judgement until more facts are disseminated. If that is even possible at this point.
SBF went from a supernova to a black hole in 2 weeks
For a black hole he's still living his best life. Maybe white dwarf is the better analogy.
ftx cannot get the bankruptcy approved and protect itself becuase the company never had the billions. it was fake. so their assets are worth more than the company so they can pay up. and cannot protect all the real estate!
@@kaewonf8 We will see.If enough protesting goes on, they may feel the need to sacrifice him, a bit like the Epstein situation. Thing is that if somebody disappeared, there are plenty of private islands around, where they could justify their existence may be for generations
This is why you do your due diligence and store your crypto in a physical wallet
Thanks for doing all this research and delivering it clearly! This was a better summation of events than anything I've read or seen until now
As a certified U.S. financial institution, audits are strict and mandatory. There is no way authorities are not in on the scam...
Agreed.
The SEC president was in on this
Who needs a stinking accounting department when you have the Democratic Party???
@@corsomagenta if both parties were not involved why did SBF need to fill both their pockets? Don't be throwing stones in a glas house, dud!
except ftx is not based in the US but in the Bahamas..small detail🧐
They Didn't Think Anyone Was Smart Enough To Catch On To All of Them!!!
Have to agree with your speculation why SBF is not in custody, it has appeared for some time that there has been a concerted effort by 'Sovereign' players to destroy the crypto market as intended to allow the easy passage and domination of CBDC's. Maybe FTX was always intended as a front to enable this.
I would think 3ac would meet that roll better?
@@dxasset We will never know how many behind the scene nuclear transactions were carried out by FTX & Alameda affecting their competitors
this has been my thoughts... SBF is nothing more than your typical wallstreet trader. FTX/Alameda was created to launder and trade money and other parties were involved to profit from this and within the process to destroy crypto to eventually control it with heavy sanctions and regulations. as many officials slept on crypto and its evolution in the era of the internet and technology. SBF has zero knowledge on crypto which should of been immediately as a red flag after the first being a trader.
Yup
33 likes that tells me something right there so I just thought I’d comment instead of for the like
I still remember seeing FTX advertisements all over Australia, coining themselves as the "best and Australian owned exchange", I briefly looked into them and noped out because it just doesn't feel right for an exchange to also have some kind of hedge fund company.
You were smart.
Fantastic report 👍thank you
This guy johns job is so cool. Imagine being made CEO of a company overnight with the sole intention of dissecting it. Like being made boss of the mafia but you’re trying to put everyone in jail
Excellent content ... thanks again Guy ... I keep watching and learning from Ontario, Canada
This will be yet another fuel for "Can we trust the legacy media"
legacy media seems to have given up on appearing trustworthy. Not since Covid demonstrated the influence of their bias.
Good example is Legacy media currently reporting on Ukraine as if their own 2014-2018 articles on Ukraine don’t exist and/or never did. Google is protecting them through completely filtering of the news search tab but web search will show some articles if using specific search keywords.
DuckDuckGo is less filtered but will prioritise certain organisations and can require specific searches with some media cooperations (I wonder why…)
Brilliant presentation man!
the question is, how everyone trusted this company in the first place, and the answer is simple, many powerful figures (probably government-related) recommended them, to other big players, and made a cascade effect from there
I came across it from this channel. Lol! I downloaded the app but never did kyc.
'The game was rigged in their favor and they still lost!'💀
Maybe the game was rigged in their favour, and the game played out as designed.
They will have only of lost if they didn't keep enough liquid cash on hand to pay everyone off
If they haven't they going jail for along time
Don’t you think it could be possible that he was in cahoots with the SEC and other government departments to create a situation where they get to ride in and start regulating all cryptocurrency and save the little man?
This is a very interesting idea to toy with ................ there is alot of things that can point in that direction......
No the SEC can do that anyway, specially without making a ‘deal’ with some guy.
You forgot to put "save" in inverted commas.FIFY.
Possibly, but all these details reads to me as Ponzi scheme to me with a side order of "buying politicians and government officials to regulate my way". Take note that the latter has been done by other companies such as Boeing and Abbott. It looked like he wanted to be able to perpetuate the fraud and, thus, fund his lifestyle for as long as he could.
tbh it just looks like teenagers being idiots because they have trash parents. if they get off the hook then that's correct. if they go to jail that's correct. they're evil idiots. you can be both
OMG…I love you Guy…thank you for all you do!!
Learned a lot from Guy. Thanks million👏👏👏👍
The fact that FTX established in Bahamas is a red flag itself..the lesson we learned now is to look for red flags first in any investment we take on
I had no idea how messed up FTX really is. All the exchanges are emailing me telling me there is nothing top worry about. Now I'm worried.
make sure you dont keep crypto on exchanges
Hahaha! True. When the Crypto Exchanges ask to speak to you about your *Vehicle* *Car* *Insurance,* it will be to late to run to even a Stablecoin or Fiat.
I think this will be good for crypto as a whole as the average person will look at this and question why politicians etc. were so positive. Given the increasing distrust in centralized powers this could increase awareness of the need for decentralized permissionless networks DLTs & DEXs.
only if he is jailed
Sorry dude, but we are still the minority.The vaast majority of the world are either deluded by the Mainstream propaganda, or are simply too scared to confront it because they have enough comfort in their life that they feel that they Have to Much to lose, so either deliberately Avoid, or talk down any subversive narratives to the mainstream.This includes clever people, who can deny the obvious and deliberately not use the usual critical reasoning processes that they do in their profession and mainstream external financial affairs
Bringing professional news delivery backed with amazing research and well informed opinions !! Love you guys, guy and CB team 🎉
Amazing research you say? He has created several "in-depth" videos about FTX in the past, and why you should use it.
He pushed FTX, amazing research lol
@@thecoyote88 True that …. However you can not fault these guys … how would they know - FTX blind sided everyone you are talking highest levels of government, SEC, high profile investors… bit unfair to say CB credibility is in question. Corruption usually isn’t known until it’s too late brother x
@@thecoyote88 nothing wrong with FTX technology …. It’s the business management with a heavy sprinkle of fraud … but who knows about this until it’s exposed … gotta give bit boy an applause for this reveal
Excellent as always ❤
This is almost literally mind-blowing...
Thanks for the clear and concise information. My favorite channel by far.
Regarding FTX using auto delete messaging, questioning why they would do that does not make someone a 'conspiracy theorist'. Destroying evidence is crime.
Not if you are the Prime Minister of Denmark or the Permanent Secretary to the Prime Minister.
The only sollution to all these little games of institutions is educating people how to use crypto from wallets, not from CEXs. Thanks you guy for educating
Reminds me of Meryl Lynch/Enron back in the late 90s. My parents lost almost their entire retirement value. They sold and they should have held. If I sell my crypto I lose 65% of my value....I'm tempted to salvage at least the current 35% value but I will hold because I can't live with that loss and my plan was to be a long term investor from the start - however it is REALLY hard to watch all this and now I think crypto will be a lost cause in a few years now...if we ever get back to 65K BTC I think I might sell to break even.
In the 1987 UK crash I sold and lost 60% from the top price, I should of held as the price climbed back up a couple of years later
There are 2 possibilities, crypto will recover, but that will take time.
Crypto will be regulated out of existence as was the plan.
@@terryhayward7905 this is called extreme fear. The end of the bear market is not too far away.
Hold. There is a groundswell for crypto despite all the FUD governments are spewing. Crypto adoption is up in the minds of people because people know governments are just taking them for a ride and the current financial system is rigged to benefit the rich. BTC will endure and so will the larger eco system.
Stop worrying. If you hold Bitcoin and not any of the other garbage, it will climb back way more valuable very soon. Look at the network growth and adoption. It's inevitable and obvious to anyone that understands why Bitcoin is so valuable.
14:37 "Now the bad news is..." ... 👀 WTF????
🤣
Thank you so much for this channel! You are always an invaluable source of info. Thank you for the work you do! So much love for you.
Stay hydrated! We need you and we love you! 😘
I will be so happy if everyone understand how bad is the centralization and hope that lawyers will clearly connect Gary with this.
14:36 OMG, Coin Bureau said after 14 minutes of talking about FTX bad news, "Now for the Bad News."
We keep hearing “loaned”, but a loan you never make a payment on, has no interest, and you never intend to repay, is just embezzlement.
It is an honor to watch your video again...
The FTX saga is a big low for the industry.
The fact that you keep updating the crypto community in times like these is enough motivation for me to keep updating my channel with relevant crypto contents.
There is no crypto "industry" other than money laundering and Ponzi schemes.
@@darthkek1953
That's your opinion:)
@@CryptoNiche In the same way Burry's prediction of 2007 was also an opinion.
1. Only use centralized exchanges for onboarding fiat, if you have no other choice.
2. Definitely don’t leave money sitting in an exchange or a web wallet like MetaMask.
3. Carry on as usual.
The new CEO at FTX is billing for $1300 per hour, according to CoinDesk. He's not likely to be in any rush.
He is underpaid
Did you expect new CEO be charging $130 per hour?
1300 dollar is nothing for this job and his experince, many consultans earn way more than that
That's the price of three or four lawyers. Which is not a lot of lawyers for a case like this.
Not bad actually. David Boies, the lawyer who sued Microsoft on behalf of the Justice Department, charges $2000 an hour.
Crypto is a toxic Ponzi scam from the start. Greed created a fools gold rush and everyone followed by fear of missing out. Bravo 👏🏻
Imagine how many “unicorn”, “decacorn”, and “hectocorn” startups/companies are just like this but since they’re private we’re in the dark about it. Many might hate this, but this is why regulation/oversight is required
Thank you!! I made more money shorting this entire industry than I did during the bull run! Thank you scammer crypto companies! #ftx #sbf
Can we talk about the increase in use in DEX'S . They are the only viable way forward
Loopring
@@killdizzle totally agree it would be nice if people could start get paid in crypto or at least exchange crypto between friends
Quick asl with the updates. I luv it
The Tether connection once fully revealed should be interesting to say the least. Looking forward to a follow up in that area. Thanks again for the in dept reporting on this comprehensive subject.
Same here. Is too quiet about USDT. When something suspicious that big is too quiet...... better prepare yourself.
@@bachataintimate3726 THEY WERE ALL $CAMS WAKE UP PEOPLE
Tether is the next victims caught in CZs crosshairs.
tether go brrrrr
just kidding
it s fucked lol
@@MakeItMakeSense285 cz bad guy?
Good job bro! You are the Harry Potter of crypto news!
BTC could bottom lower than 10-12k because of FTX disaster, it will take some time to affect the market
Awesome, should be lower so we can have more of them.
10-12 without the k
@@deingewissen_official well if it does go down that far, imagine how rich you will be once the smoke clears
I think you'll find, the market has already priced it all in and you've just missed the bottom.
Excellent presentation. Thanks big time.
The worst in this (IMO) is the view of the world toward Crypto ...
It's a set back but enough people know that Crypto has great potential, despite all the booms and busts and scammers that are still in the space. I hope there will be jail sentences handed out to all everybody involved, without consequences the takeaway really is everything goes and that would be a very bad signal for the space.
i feel sorry for those investors who invested in Luna, Celcius and other assets in FTX ALL combined. my thoughts and prayers are with you.
Maybe one day, they should learn about Bitcoin and how it avoids situations like this and many others.....
P.S: those are speculators, not investors.
ftx cannot get the bankruptcy approved and protect itself becuase the company never had the billions. it was fake. so their assets are worth more than the company so they can pay up. and cannot protect all the real estate!
I don't. Should have just bought bitcoin and put it on their own wallet....
Invested in celcius, lost some money but peanuts compared to others.
On a scale from 1-100, how likely do you think it is that SBF was a pawn to get more crypto regulation?
Trading is easier when you do so with proffessionals it really helps reduce the chances of running into losses.
They are always ready to help you with the trouble...
no
I think he was a willing participant. But he got played as a sucker and used as a Patsy.
Look at his parents and you'll get your answer
Leaning 100
20:49 SBF should be more careful- if you can be seen, you can be caught. Not by law enforcement. But by anyone. And given that he's affected _a lot_ of people, it's statistically guaranteed that there's at least one highly skilled, highly dedicated person out there, with nothing left to lose...
I’ve got a grilled cheese sandwich balanced on my head.
Lol 😆 🤣 the best comment today so far !!!
It's bizarre that they're using the term "silo", because the way the four entities functioned was the exact opposite of the way the term "silo" is used in the industry.
You can change FTX for any three letter agency and it would still be accurate
Fjb
CNN?
JEW?
@@pepevonkek7803 Oy Vey!🕎
@@pepevonkek7803 Every single time, the little hat people ✡️
How could so many people miss this??? Something is rotten in the Bahamas!
This could have been avoided if Gensler wasn’t in the prime SEC position. Every crypto collapse has been pretty much out on his doorstep. Lack of regulation and governance causes these issues.
But isn’t lack of regulation and governance supposed to be a feature of crypto?
ftx.us was fully US regulated and it did not prevent fraud or crime. To think that regulation prevents crime is about as naive as thinking cctv prevents crime. Also when the sums become big enough the criminals become friends of the political class, they become donors and 'friends'. Don't underestimate the power of corruption, the power of regulation pales by comparison.
Amazing Video!
THE EPIC CRASH TO 10K IS DAYS AWAY! SO SORRY
Why are you sorry? Are you the one responsible?
@@shawn47240 No but ppl will lose money an its sad mate
Why? Don't think so.
I think you'll find that the crash just happened and you've now missed the bottom.
That mug really ties the room together.
The real question is whether this was a full plot to destroy the crypto industry right at the time when the US Fed rolls out the CBDC trial?
100%
Conspiratorial. Crypto is a magnet for con-men and grifters looking to get rich quick. The complete lack of regulation allows for this. Should be no surprise that this happens from time to time in Crypto. Particularly with crypto generally falling, a lot of crypto funds are going to go under.
@@MascotWP How do you write off the ties to the SEC, democratic donations, Ukraine money laundering, family ties to the democratic party, etc. (All facts)
With the democratic party openly working create a CBDC (fact, it's in trial), letting alone moving forward with digital world passports (fact - G20 and COP27 speeches), how many coincidences would be needed to be not written off as conspiratorial?
Remember how many conspiracies are now facts over the last 2 years.
My thoughts exactly.
Must say the guy was smart, auto deleting messages Wall Street should take note.
I hope Sam's health holds up. I can foresee possible health issues or "lead poisoning" in his future if things get too truthful. Someone someplace isn't going to want their dirty laundry list being made public.
I don't think so.
You don't give secrets to young MIT graduate....
Epsteined
SBF didn't liquidate himself...you heard it hear first...
He might get suicided.
@@killdizzle well put
Guy dropping bombs even in a bear market! 🧸💥
This is crazy ... FTX changed crypto for ever.
I've ALWAYS said crypto was worthless trash even when bitcoin was 65K. Suckers
The mug was a very nice touch lol
Why people think we are pumping is beyond me. See you at 8K
The SEC has been so inconsistent in its approach to crypto. Companies that seek guidance are not given it, but then they are fined for not following the inconsistent or invisible rules that are generally derived from prior policies that are almost a century old and not truly applicable to crypto. Meanwhile, we have someone who supposedly registered with the SEC but then was doing all of these things right under their nose. Where was the SEC to protect us, and where was the IRS to detect all of of these shady dealings? What's the point of hiring 87,000 new IRS workers if the ones who we already have aren't even able to spot something that should be so glaringly obvious to anyone that actually looked at any tax filings or record books that even existed? All of this suggests that when it comes to actual policy and enforcement, it's all about who your family and friends are, who you know, and who you are paying off.
Get ready to to buy at the dip!
People have been buying the dip since btc broke 30k, most are dipped out already, this buy the dip comment is becoming a joke, most folk at this stage have been absolutely crushed
@@killdizzle your right since ATH thinking it was heading for 100k some will be destroyed with more pain to come
@@Daryl26543 that’s why you DCA you don’t throw everything in at once lol
Thanks gor your work on this 👍💯👍
The Dem politicians that enjoyed millions from Ukraine/FTX are going to give the money to charity. You or me would give that money back to the people that got ripped off, but the Dems will give it to charities that will give it back later.
CZ started this and is now on a high trying to start more collapses. And now he is licking his chops!!!
Let's hope Sam doesn't get Epsteined.
If our crooked FBI every gets their hands on this guy all bets are off as to how he will meet his demise.
The don’t seem to have loose in my eyes. One only lost if they are behind the bars! The guy is still out there!!
That picture of Sam BF sitting on stage with an ex President and an ex Prime Minister wearing shorts and a T shirt says it all.
Love the mug. Very appropriate
This is some amazing information. No accounting department. LMAO
If this crisis gives Blackrock a mighty big black eye it was all worth it.
Great cast, keep up the great work!
Guy, please ask your sound peeps to use a DeEsser! High end of your sound is way, WAY too harsh and sibilant!!! Pity, as it spoils the overall good impression because the content you produce is really amazing, Cheers mate.
always great info. thanks for sharing.
Great content Guy, but please bring back the two lights system you had. One key light makes everything too dramatic and its aging you with at least 10 years 😂 People might think crypto did that to you 😂
Great warning sign for the future, involvement with regulators.....Trying to build a safety net to prevent the owner's arrest instead of helping the market.
cant believe? yes we too , ftx affiliate sign up link pls
Felt so stupid not to look in the exchange I use, while I perform in-dept analysis of stocks I want to buy. Now that they seem more unstructured than I was at high school baffles me
This is how most of the startups roll :D And it can get quite bad when to grow way too fast.. Fake it till you make it =)