 Great. Well, there's the last set news. My name is Rob and today we've got a lot of things to go over So let's just jump right into it So first we're gonna talk about just take a quick look at the market the market recap and talk about correlation Versus uncorrelation then we'll talk about everybody's I think least favorite subject these days Which is the Bitcoin ETF through grayscale and it's not that It's it's super important things to know what's important to know is when it gets rejected Because I don't see it getting accepted what they're going to do afterwards also, we'll take a look at a story a ledger live and gaining yield and then we'll take a look at what I call clown news which we haven't done in quite some time Bitcoin miners aren't paying the bills and what it's looking like is that there's some asic miners up for grabs It's just being left in certain locations and lastly and probably one of the most important things We're gonna talk about today is the Celsius recovery plan We're gonna have Simon Dixon on on Thursday, and I want you to submit your questions As we talk to him and we're gonna do this live I'm gonna give you a link to where you can submit all your questions Which can be voted up or voted down and we'll take the most popular questions and talk to Simon about the Celsius recovery plan And what he has found out as far as what is going on with Celsius and the very end We'll do a quick Q&A and go over all the things and I'll answer all your burning questions So first of all let's get into it market recap and see exactly where we're at today. So today We're still in Houston. That's why you may notice that there is no pool background because we're still in one of our Properties that we're trying to fix up and get going for the rental market Which is doing pretty well, but we'll be leaving today back in El Paso tomorrow So we'll see if there's a video tomorrow, but who knows but here's the thing We're down again, and that's not surprising. I just say it like this But it's almost laughable. It's like every day is like we're kind of down So if you hear people yelling by the dip and stuff like that tell them to stop just tell them to stop You can dollar-cost average, but you can buy the dip and a dip the dip and you go dipped out and Here we are. I just dollar-cost average I am being very conservative right now just dollar-cost averaging once a week on Sundays It seemed like that's when things start to go down a little bit more precipitously but you can see today we are down yet again and I believe That's we are still below the 1 trillion market gap. I guess 967 billion. Well, that's a bummer And if we take a look at it, I don't think there's anything up up. Maybe let's see is anything up That's the that's always the important question. That's a sad question If you really ask me is I'm just trying to find one crypto that's up. Hey flow Congratulations flow holder and a coin holders good for you guys and gals Tezos who to thunk it four point five percent Well, that's amazing and Ave and bit torrent twelve point four percent Congratulations Mike the investor and everybody watches him. That is his play So that's what we have right now and the question then is as we go down. I always am curious Not so much about the outflow in the miners. We know miners are selling I mean we can see that pretty easily right here as you can see the big spikes the green parts here That's just the price of Bitcoin and the reserves, of course People are putting more a little bit more of Bitcoin on on exchanges as they as they get ready to sell So expect a little bit more of a sell-off. I'm not Telling you that that's what's going to happen I can just tell you what the on-chain analysis says and not that that's even perfect But the thing that always is impressive to me This is always impressive to me is this the leverage ratio and let me blow this up So you can see it and I'm not a big fan of leverage as you may have seen on my channel But it just seems like one of those like a little bit of an increase in prices It's like people like alright, baby Here I am time to time to load up gets a go heavy leverage and go from there and anything above two 0.2 is a pretty high leverage ratio and we've been above zero point two for quite some time So as the price has to go up gamblers come out and you know good That's what they wanted to but then also just remember that's one more thing Market value to realize value ratio is still below The one point zero and that usually indicates somewhere near a bottom But the don't take that take that with a grain of salt I mean even though we're at twenty one thousand twenty thousand We can still go up to fifteen or twelve or thirteen because guess what it's crypto. That's what it is So we're down S&P 500 is down Nasdaq is down. Wow. Nasdaq is down to almost two and a half percent. That's what's like up It's like a bloodbath for those guys remember traditional finance. They think they scare easily and that's just like a Tuesday afternoon for us So everything is correlated, you know, it's not correlated masterworks Yeah masterworks This is my portfolio. You can own fractional. I share of Fine art not the whole thing fractional. I share it's registered with the SEC and guess what here Are two of my portfolio on a little bit of a Banksy a little bit of a basket Yeah, if you want to talk to these guys about uncorrelation link in the description looks just like this check them out You can skip the wait list. All right, so let's get to it Bitcoin ETF I Will just tell you that I Don't ever cover Bitcoin ETFs because I have I have no interests honestly in the Bitcoin idea I have no Recognition that we're going to get this approved. I just don't because I've been hearing the same song a dance forever I remember there was a video with a hundred veer in 2012 and he's like the Bitcoin ETF is right around the corner And then of course, you know a couple years later. There's another video even going It's right around the corner and 2017. It just keeps going on and on So I know people want this to happen. They really want to see it go through I want to see it go through and I want to be wrong But I don't think it's gonna happen and the only reason I'm covering the story is because it's interesting the wrinkle of the development of What they're what grayscale is going to do if they don't get it approved and they're gonna go right at the heart of the SEC Here's what's going on so grayscale reaches Grayscale trust agreement with Jane Street ahead of SEC ruling so they're going to partner up with Wall Street That's fine. You gotta sometimes you gotta lay down with the people that's our That you may not usually talk to and that's just how some things work so grayscale announced a deal Monday with Wall Street trading firms Jane Street and Virtue financial to close the discount on its Bitcoin trust Following potential ETF conversion this agreement comes ahead of an expected decision On July 6th. So keep that in the back your head July 6th July 6th I'll also keep this in the back your head to July 13th the CPI numbers come out for inflation also keep this also in your back your mind July 23rd or so there's the Fed meeting So July's gonna be a pretty hot month. Let's be honest and Hopefully it all works out. I just I just don't have a lot of faith that it's going to that's just me Let me understand my other comments. I could be wrong. I'm wrong a lot Asked my wife, so that's what it is. But here's what's interesting Because I thought well, maybe this is just posturing and then you know trying to trying to you know get some kind of momentum going and Bringing a big name in but no the deal would only be effective Following the SEC's approval, but the agreement service another sign grayscale is operationally ready for ETF status according to the global head of ETFs David Levaye David Levaye is gonna have a really good comment after this But so there we go even though I thought it was just like a posturing movie like no no we think it's gonna happen we know what's gonna happen and We're gonna sign these agreements with Wall Street, and it's only going to execute If it actually goes through all right great Since grayscale submitted its application for ETF conversion in October of 2021 the SEC has delayed approval three times Again not much faith now as part of the regulatory process the regular Regulators can not delay the application any longer and must make a final decision on July 6th. You know my position here So all this stuff was is great good to talk about you probably hear a bunch of this on other YouTube channels They're like it's gonna happen. It's not gonna happen Maybe I'm wrong but what's interesting to me is this and I'd heard this before and it's it's it's good to repeat this Levaye Rearrayed to y'all finds that if the SEC does not approve Grayscale Bitcoin's conversion the firm is prepared to appeal the decision by suing the regulator now. That's awesome I got to tell you that's great if they have to go through and they Say hey, you didn't approve this why didn't you approve this? You know you got a you have a short ETF You got a futures ETF. Why can't you approve the spot ETF? That's when things get great So I will be following this story to see what happens and don't worry if you think yourself well Has the SEC ever lost? I mean, that's a pretty big powerhouse. Yeah They have lost they sued Mark Cuban for insider trading and guess what he beat the pants off him in court So don't think that they are this almighty powerful entity. They can't be can't be beaten They can it's been done before By the owner of the Dallas Mavericks, so I'd like to see how this plays out. I'm going to think about the comments section Let's move on the next piece ledger live and yield I found this interesting because very cautious about These yield platforms as you may have known three hours capital Celsius different other platforms Going down potentially because of three hours capital and yield and such So when I saw this I'm like well, this can't be good, but there is some wheels to it Ledger live adds yield earning capability via alchemy earn I guess I hope I said it right the integration with alchemy will provide ledger users with the ability to earn yield for the first time ever How does this work? So ledger live is integrated with alchemy earn lending borrowing platform a lending borrowing protocol Excuse me a lending borrowing protocol Let me make that distinction very clear that utilizes a permissioned liquidity pool of digital assets comprised of ether This is not looking good wrap Bitcoin and stablecoins Users can put their cryptocurrencies work on alchemy's protocol without them leaving the safety of their ledger wall. Let me say that again Users can now put their crypto to work on alchemy's protocol without them leaving their ledger wallet That's interesting and I've already reached out to ledger I'm gonna get somebody on the show to explain this more in detail and if anybody knows anybody from alchemy I'd love to have them on for they can explain this because it seems to get to be true And if it's too good to be true, we know what happens there Ledger aims for bait to provide users a way of purchasing using digital walls without Assets without giving them to up to exchange or other protocols with alchemy ledger users will have more ways to grow their assets While enjoying all the benefits of crypto without centralized custodians, which is the problem that we're seeing right now JF rocket VP of international development. So again, I will get somebody on the show They'll explain this to us because I will not be doing this whatsoever until I get more data Let me just think about if you want to go forward with that and have me bring somebody on and explain it If not, I'll bury it and we'll go from there. I put that in the live chat of the comments next up, I Haven't this in a long time and we call it clown news and I call it clown news because it's ridiculous These things shouldn't happen. I think these days we need a little bit of brevity. So clown news So the thing with this one, I thought I found it interesting It's not just that well first there's two there's two parts to it People aren't paying bills. They should be paying the bills. The second part is what happens to the investors. Here's what's happening compass mining Loses facility after allegedly failing to pay the power bill. I think that goes back to what we were talking about here Ah, I don't want to sign it again Which was the document which takes a look at uh, bitcoin miners selling off and we've seen there's been an uptick It's not uh, that's dependence to figure that out And you can take a look at the data to verify for yourself over a crypto coin Anyhow, here's what's going on the facility owner dynamics mining publicly took the twitter to share the letter terminating It's hosting agreement with compass mining Say you just didn't pay the bills Bitcoin mining hardware and and and hosting company compass mining has lost One of its main based main the state not ma any or ma i hosting facilities late on sunday dynamics Place people who owned that facility tweet a letter on twitter It sent to compass mining which stated as of june 14th the hosting contract between the two was terminated They alleged compass has six late payments and three non payments Related to utility bills and in my mind. I'm like well, how much is that a couple thousand it's going to be that big I mean, it's just only three non payments Who who here hasn't missed a couple of payments? I remember when I was a kid Missed missing every so often. Well, here's how much On monday dynamics alleged the power consumption bill total 1.2 million dollars And compass had only paid around half It said compass claims to have given the money required for the bills But dynamics alleged it was used to bill other facilities and said so they said yeah, we paid it But they're like no no you didn't pay anything and you're using that for other facilities You should really pay your bills compass mining sells asic miners applications specific integrated circuit miners Which come with an option to be hosted in its facilities located across the u.s. and canada So They're selling these miners Investors are buying the miners you're plugging in they're thinking they're gonna get rewards Maybe they are or not But the question is what about the miners that the people purchased it's unknown what will happen to customers Miners located at the facility. I can tell you if I'm a facility owner and you owe me half a million dollars I'm taking all your stuff and that's just how it goes and which sucks for the actual people who paid for it But here's the crux of it and this is where it comes down to ring the terms of condition compass The one that didn't pay the bill states that in the event of an emergency It may rearrange remove or relocate customers hardware Without any liability compass according to its host during agreement the term also In terms also see customers wave their rights to seek remedies in court Or be involved in any class action lawsuits any proceedings must be brought forward by each individual customer If they were to file a lawsuit against compass so an individual who may have a lot of money They have to bring an individual case against this Gigantic enormous company and they can't join others for civil action Well, that sucks and that's where it comes out of terms and conditions And that's where I think people get burned sometimes because they just don't read them and guess what? I'm as guilty as the rest person next person So I'll make you think about that in the comment section that would conclude clown news everybody get a little chuckle Unless you just don't like clowns. That's okay. I'm back. And let's finish this up with something a little more serious and this is important Simon Dixon Bank of the future talked about him for a while He's gonna be on the show on thursday and we're gonna live we're gonna talk about This Celsius recovery plan that he's putting together and he's done a couple of different recovery plans for big names Like fifth and X and some others. He's also been a big investor early on in coin base and crack in those types of places so the first things first is that The questions I need you to to submit there is This app That's not an app. It's on your desktop app dot Slido And there's a link in the description. It's like the first or second Link in the description you just click on that it'll it says questions for Celsius recovery plan You're putting your questions and you can go there and look at all the questions and you can upvote If you think that this is a good question or not Julie chain. No So there's only one right now because we just started this and what's going to happen is we're going to have the team from bank the future Simon Dixon He's going to take a look at those and are his team and just decide which ones we're going to question Oh, very nice. There's another one if Celsius are confident recovery. Why stop taking cell tokens or payment? That's a good question. I'll upvote that Uh, and then the ones with the most upvotes will get asked the questions in our two hour interview So it's up to you to submit those questions, but This was an interesting tweet. I thought this was good to bring to your attention Simon says here's a simple summary Also, the debt can be voluntarily converted to equity for qualifying investors on bank the future And this was a tweet by 60 is okay. All right And it's very simple what the what this Person lays out and I read it to you and this is what he's pretty much saying. Yeah, this could be This is kind of what we're thinking about doing Any states I will use and this is all about Celsius recovery plan. Okay, so people understand what we're talking about Celsius There's an issue with insolvency. They shut down People being able to withdraw On sunday the 12th of june, I believe I did a video on that same day Telling you to take off your money nine hours. They shut down The withdrawals. Sorry. I should have used a very very big clickbait title. So everybody would have clicked on All right. So here's what he says. I will use an example numbers Used here are not the real numbers. Let's say Celsius has 10 billion dollars of deposited from customers. Okay, 10 billion This in the books makes a 10 billion debt that they have to pay back As long as they have the 10 billion That's been deposited. This debt is no problem if they had it. Let's assume they lost 2 billion of the customer assets Three arrows capital different problems with anchor protocol. Sure They now have a 10 billion debt and only 8 billion so they can pay back So they can't pay back the debt, which means they are insolvent So the problem is the debt as this is not a credit which has to be paid back in one year or something This debt has to be paid back like right now So you can't just extend it because people are going to say give me one money And Exactly here is where Celsius network depositors and bank the future Simon Dixon could come in action and of course, there's been talk about some wall streets I forgot the name wasn't leaning Goldman Sachs coming in to try to bail them out But then Simon Dixon put out a tweet and said no, that's not true I talked to people in Goldman Sachs. They say we're not even not even considering this. So that might just be some somebody Drawing up some conclusions, which aren't even actually happening potentially so back to this thing If we change this debt to a credit with weekly monthly yearly payback or whatever Celsius networks would not be insolvent So there are many ways to achieve this for example Depositors could be asked if they are okay with only being able to draw 50 percent of their funds until 2020 24 If half people agree that would make 10 billion divided by 2 equals 5 billion or 50 percent of the funds And then 50 billion divided by 2 if it isn't agreed. He's two and a half billion credit for Celsius So again, this really would come down to what people agree to And of course, there has to be some kind of upside on the back end for them to do that to take that risk That would be the big thing And he says I know this calculation that exact so This is kind of what they're trying to bounce the idea off of Maybe we can do this. Maybe we can't and this will really come down to input from you the viewer so again, if you could just do me a big favor and link in the description app Slido Slido Put all these questions in people will vote on them and we'll ask these questions to Simon and also I believe Simon's got some some good information to talk about From all the different people he's been talking to because remember It's not about what you know. It's who you know and I can tell you right now Simon has been in the crypto since 2010 early investor And has been a big investor in some of the bigger huge companies out there And I can just tell you It he's gonna have a lot of information. I think so. Don't quote me anyhow That's what's going on and that concludes the day So look today went 20 minutes not too bad for the news But that concludes the day for the news if you could do me a favor again Make sure you ask the questions I'll put out the time frame and the link for the interview on thursday when I figure out or when we come to a conclusion Of when that actually time frame is going to be and I'll let everybody know on this channel and on twitter But that's it for the news like and subscribe all that great stuff