 One of the last set news they want to talk about is some pretty good story about how PayPal is integrating with metamask This is this going to give us a little bit more visibility and moving forward also I'm going to show you a metamask example on my personal phone and show you exactly how this is going to work as you're able to buy Crypto through your PayPal account using metamask Also want to talk about not to be a dead horse, but there's some more worries about Binance And of course, you know my position on that don't leave anything on exchanges and lastly we're going to talk about FTX used your funds to funnel that into a secret account that has around eight billion dollars into it So now I think we know where the money is going before we get it all that Let's just take a look at what's going on with the markets and Bitcoin is down I do this because I would like to show you the Satoshis to USD converter just so you know you don't have to buy a full Bitcoin tell your friends tell your family all those things Bitcoin right now is over $50,000, but you can buy a ton of Satoshis right now one dollar you can get 5,732 Satoshis that's a lot of Satoshis and as we move forward I think that number will only decrease as the price of Bitcoin goes up So that's just for a dollar now. Let's break into today's what I consider pretty good story And what we got here is PayPal Launches integration with metamask. Here's what we have So these the of the popular metamask web 3 wall will soon be able to buy Ethereum the second most popular crypto similar to PayPal's checkout featured online stores like Etsy and eBay The integration with consensus metamask will let users buy and transfer ETH by logging into metamask Tapping the buy button and logging a PayPal before Making a purchase company sent a statement that select US based metamask customers Will be able to use PayPal to buy either ether as of Wednesday, which is yesterday today is Thursday, December 15th Now the feature will be rolled out to all the US users in the coming weeks This integration will with PayPal allow our US users to not just buy crypto seamlessly through metamask But also to easily explore the web 3 ecosystem. That's the big thing Getting people to understand and use it utility right so this was the exact article that it came from It says it's pretty easy add crypto to your metamask wallet log in a mobile metamask app Click or tap the buy button select PayPal and the desired amount Buy your crypto done. So I thought about that. I'm like, is that really as easy as it is? So what I did Was I loaded up my metamask wallet and I taken a look on my personal phone itself And you can see right here. Let me bring this up so you can see it Here's my metamask wallet. Don't worry. I've got a whopping $900 plus an ethereum I don't think it's going to crush me if If I lose that that's whatever So what they're saying here is that it's very easy step buy button right in the middle buy right by receive I'm going to click on buy And for me, I've got three options because I'm in Puerto Rico right now And it's it's not for every US Citizen so far, but this is how it works. So I thought to myself. Why don't know what the PayPal Fees are going to be but if you do an instant bank transfer Continue to amount. Let's say I want to buy a hundred dollars worth of ethereum. I click done Get quotes Here's the quotes. It's like Six, well 6.3 percent essentially what it is. You can see right there the total fees I'm going to get $93 $6 and I thought to myself that's kind of a ripoff is what I think you can use apple pay We'll take a look here. Let's say a hundred dollars Done get a quote and what do we got? Well, same thing A little bit less, but it's four percent. So people who complain about transaction fees It is no I mean, it's a abysmal what you can get and you can use a debit or credit card But again, and what are you going to pay? You're going to pay a lot in fees And just getting the quote right here for all three of those You're looking at about four percent. So if that's something that interests you Go right ahead. I don't have access to PayPal I would like to see what the fees are, but I'm going to guess That it's going to be a little bit higher. Anyhow, let me actually think about that in the comment section Let's move on to our next piece where we talk about Binance so not to beat a dead horse, but Binance proof of reserves raises red flags And we take a look here. I've been talking about this for quite some time I'm very leery on Binance. Of course, that's why we have the rules underneath me It's all gone. Don't invest morning before to lose everything's a scam until otherwise Don't leave anything on exchanges. We think we've all learned a lesson with that one Don't use leverage and take profits along the way I think that's helps me out. You're free to use those or discard them whatever you want to But it's these types of mentalities that makes me look into Binance So as I noted by a former financial accounting standards board member and investment manager And we're talking about the Binance audit that was put out We've talked about this three or four times now at first it looked good Now we take a look at liabilities like those are put out there But the wording was a bit off and it's just not as transparent as you'd like it to be But it's according to the standard board member financials It lacks information related to the quality of internal controls and how Binance's system Liquidates assets to cover margin amongst another red flag lack of information about Binance's corporate structure I didn't know this but Binance's chief strategy officer Patrick Hillman was unable to name Binance's parent company As Binance has been going through a corporate reorganization for almost two years Now look, I don't know how long it really takes for a massive multi-billion dollar Corporation to reorganize. I've never been in control of one But two years seems kind of lengthy correct me in the comment section. Maybe that's just normal But it gets a little bit more dice John Reed Stark senior lecturing fellow at Duke School of law and former chief of the sec's office of internet enforcement state of this Binance's proof of reserves report doesn't address effectiveness of internal financial controls Doesn't express an opinion or assurance conclusion and doesn't vouch for the numbers I work at the sec for 18 plus years. This is how I define a red flag and then moving forward It's not just about that But it's about the things that that's uh CZ says And before he's had this tone where it's like look if you're going to spread fud You're not going to make any money. You're going to stay poor. That's one of his tweets Not exactly, but that's essentially what he said And this next one he says look you can custody your accounts, but only one percent of people can handle it right now I'm not for sure. We sound about the global population or the population that is in crypto right now I personally believe we are smart enough to figure out how to custody our own accounts I think you're smart enough. You're right here. They can the right place at the right time Also, if you help with doing those things, I got this website. It's 100% free It shows you all the the ways to self custody How to use a meta mask and you can use those in all the different modules One of those being module five How do I use a meta mask wallets right there? And I'll tell you do staking and how to do everything with your ledger and so on and so forth So just as a refresher. That's what we got So this is what the article states CZ came out and said look most people For 99% of people today asked them to hold crypto on their own. They'll end up losing it Holding crypto ones on wallet is not risk-free more people lose money holding their own They lose more crypto when they're holding on their own than a centralized exchange again I don't know if he's talking about the general mass population in the world or crypto population But I will warn you. You know who also said that that exact almost the exact same thing It was Alex Machinsky from Celsius and he said more bitcoiners have lost bitcoin Than anybody else. He goes over the years. That's actually happened. I personally think people can figure it out right now It's not that tough But let's just keep going with this article again. These types of comments make me a little leery Holding crypto on dollars free Yeah, we talked about that now moving down Most people are not Able to back up their security keys. They will lose the device They will not have the proper encryption. They will write on a piece of paper Someone else will see it and they will steal those funds. Look just use what I use It's called a stone book or a shield folio link in the description You write it down on a book. I've got three myself One is in a safety deposit other two are scattered about my different houses And that's what I have The binance executive also say that even when self custody funds are properly managed if a person passes away They don't have a way to give it to the next akin Custodians like binance can implement a standard operating procedure The binance executive clue that different solutions have different risk profiles and that is up to the user Decide what is best for them? I gotta tell you this last statement. He's 100 correct So if you have a will or a trust or something like that you can put that in there And hopefully people will figure it out. But I know The majority of you don't You don't have a will or a trust right now to do these things transfer over to the next people. But look I mean anybody can go any day. So what I want to do is I'm going to bring in a local attorney here Who deals with wills and trusts and he's going to come in here and hopefully do a Live session and we're going to answer some of your questions about how to do those wills How to do those trusts and move forward because I personally believe it's important that we plan now Instead of planning at the very end when something happens We you know walk across street hit by a bus something else that goes about and also I know it seems like a long way away But right now just remember that this bear market these bear markets are when everybody makes all their all their money It's not the in the bull market. It's not like when you're buying Solana at $200 plus. It's when you're buying that at $10 or whatever else it is not when you're buying Cardano at almost three dollars. It's when you're buying cardano at six seven eight cents That's what I didn't set in 2017 or 18. Excuse me worked out pretty well So think about these things think about the here and now and go from there and lastly just to Talk about a little FTX news FTX Was caught depositing eight billion dollars of customer money in the secret accounts So my wife Sent this to me this morning and she tells me right here. She goes. I told you that money is somewhere and someone's going to be very rich And uh, she's exactly correct So where did the money go? Well, it's been funneled all the twice And I moved to make sure the hedge fund assets were never sold off FTX began to have issues and engineers secretly changed software coding the fdx system The software would have sold all of Alameda research assets Just like any other companies that were owned in the case of FTX filing for bankruptcy That would have happened FTX exchange code was tweaked in the mid 2020s the mid 2020s to make sure all of the research was protected From an automatic sell off of assets that the hedge fund was living too much of borrowed money There were two ways that bankman-free diverted funds one Was the exemption from auto liquidation in the software code allowed Alameda to constantly increase the final credit Most of us know about this this eventually grew to tens of billions of dollars Becoming an effect limitless the second way it's most important diverted funds was through the eight billion dollars In traditional money that was sent to secret Alameda controlled bank accounts that meant Alameda had no liability Because the accounts were never listed on the fdx exchange, which again makes me very leery about these audits that are coming about So right now you can see that there is funds and they are in different bank accounts And the question is when do we get that money back? So that is it for today. So look if you like today's video, give it a thumbs up consider subscribe A lot of things talk about our time sensitive that is it for today. Thanks so much for stopping by appreciate you We'll see you in the next videos