 Great welcome to the last set news. My name is Rob and today we got a lot of things to go over So let's just jump right in they were talking about markets So we're gonna talk about a US Senate candidate and what his thoughts are as far as Bitcoin and black rock Which is actually pretty interesting what he talks about especially with black rock and Elizabeth Warren And we'll take a look at a Voyager update We're gonna take a look at a retention bonus and what that means for you going forward And lastly, we'll do a staking update for iTrust as far as Avalanche and Cardano Even a polka dot and then we'll get into the Q&A. So let's jump right in. So first of all, thanks for stopping by. I appreciate it We've got today a nice little market that is down and I'm just gonna ask everybody a question When I do these shows, I'm always talking about the market But does anybody not know what what what the market's doing? I'm thinking about just taking this whole piece out Because let's be honest. You probably check your portfolio 20 times a day Just like I do even though nothing's really moving So I'm just gonna briefly go over this from now on unless someone's got some objections put that in the comments below But bitcoins down a little bit if there ends up a little bit and everything's pretty much sideways boring That's exactly what's going on. If something really major happens. I'll talk about it But that's the market for what we have and I'm sure there's some Something that's really fantastic one of your coins that is in the top, you know, thousand that might be doing great But sure Anyhow, that's the market itself I'm sure we're correlated it at least somewhat the NASDAQ and S&P 500 and so on so forth But let's just jump into the stories. So first of all, I want to talk about yesterday's video about Cardano Yeah, first it was great. I had Josh and Rob from Pornocopia has come on We talked about the nozzle upgrade and how many different Steak pools state state pool operators such as myself have actually gone into it and upgraded and I got to tell you every time Every time I do a cardano video, this is essentially how this gets summed up in these two comments There's always like someone's like Cardano is the best thing of all time and as ever then there's like 50% are saying It's just a big scam. I Just find it fascinating that no one really does that on on any other crypto besides Cardano So whether you love it or hate it, I got to tell you it's a very polarizing Crypto project. I personally am biased. I own a bunch of it So I will keep talking about it. Also. I have a couple stake pools. So don't think I'm gonna stop talking about it anytime soon That's just what's going on. Let's jump into Today's top story and I just there's a lot of things going on But I just found this interesting and this was there was there was a debate for New Hampshire primaries US Senate candidates This gentleman's name is Bruce Fenton for a US Senate pretty interesting guy and What he talks about here, it's just a minute long or so and there's asking the question about, you know, how should we go about as far as? spending or as far as Currency and money and just the answer is pretty good And it's not that it's just this guy that that's come about but like I said But like you can see is it scrolled scrolls scrolls across below It's look at the big picture. I mean in 2017. There was no candidates. There was no senators There was no congressmen or women talking about it Now we've got a plethora when we Jane Adams from Las Vegas and to me and and Lummis and and emmer and some others that I'm probably forgetting and It's just kind of like a snowball effect before you know it One of the big talking points might be crypto moving forward if it's not already So what I'm gonna do is I'm gonna stop the screen real quick. I'm gonna share the tabs. You actually hear what this guy is saying Just take a listen. This is about a minute or so long Mr. Fenton you your website allows contributions in cryptocurrency Do you favor increased use of crypto in monetary transactions? And what do you say to those who oppose crypto currencies because they can be used for illegal transactions? Yeah, I'm all for any form of money that anybody wants to use and ideally I'd like to get government out of the money business Just like we used to have church and state were once together We wouldn't be able to have this meeting without officials from the church hundreds of years ago And we should get government out of the money business We can separate money just like we separate separated church and state we can separate money and state because government Doesn't need to be in the money business. We don't need Politicians to tell us what money is throughout human history for thousands of years People have figured it out whether it's gold or silver or Bitcoin And the fact is that our money right now is broken politicians broke it They have unlimited money that they can print from thin air without accountability and that is now competing against An asset like Bitcoin which is limited in supply limited to 21 million coins cannot be printed from thin air So the money is broken and politicians broke it and everybody should have the freedom to choose better money If they choose to I chose Bitcoin I recommend other people choose something else as well because the dollar is a melting ice cube. All right, Senator Morse I'm melting ice cube. I like the response because it There's a narrative coming going around that's you know Inflation isn't caused by the government's government has nothing to do with it And just because you know the M1 money supply is the most it's ever been front of ever in existence That has nothing to do with what's going on So I got to tell you I appreciate that type of answer and then there was there was one more piece where he talked about You know the kind of government agencies that he'd like to get rid of not that I'm a big This is not a political channel This is just about crypto and and trying to talk about the happenings that are going on But it's found an interesting about what he talks about as far as which agencies to get rid of and he talks about black rock I'm like, yeah, that's pretty interesting. So let me again share this real quick. This is just about an amend or so And take a listen. Oh and real quick You don't know who Bruce Benton is running for a US Senate from New Hampshire cyberpunk stockbroker Watchdog capital SEC Finram member hosted Satoshi roundtable interesting to check that out But here is his response for which government agencies do you want to cut? So just take a listen I'd love to cut a whole bunch of government agencies the Department of Education the TSA DHS EPA Department of Energy and so on but the biggest one we could cut of all the biggest government agency that we could cut is black rock Black rock got five hundred billion dollars of our money prior to this nonsense Elizabeth Warren held the record of the most given away to any banker cronies She gave away nine hundred billion dollars to to bank her cronies or a hundred billion when she was tarp Administrative that's been vastly surpassed now vastly surpassed. They gave five hundred billion dollars to one company and some of these companies They have singling executives who get two hundred million dollar bonus absolutely completely unacceptable Well, I'm a bunch of government agencies. So I'll just say this Hopefully that guy doesn't get silenced by anybody because that's pretty interesting. So you want to follow what Bruce is doing I linked his Twitter account in the description below you can find all the information about him And that's what's going on. I just found it a fascinating thing as far as like more Not not only Senate sitting. Sorry sitting senators right now sitting congressmen and women They're also the candidates are getting into a little crypto digital assets, and I got to tell you I would vote for that guy I voted for much less and Unfortunately, most of the politicians are just a bunch of liars So if I can get away with one that supports crypto, I'd probably do it So, yeah, let me know what you think about that in the comment section. Let's jump into a little crypto update and For Voyager and I got to tell you this is a This is gonna make you a little a little angry I think but just hear me out so We talked about this a couple of days ago Crypto lender Voyager can pay employees retention bonuses. So says a US judge and They're gonna be able to pay these bonuses But their retention bonuses Judge Michael Wiles also agreed to withhold the names and titles of the employees who may receive the bonuses so we don't know who's receiving it and We know that's going to be a bonus a retention bonus on top of a salary For sure. So this what's going on Voyager digital, which is undergoing bankruptcy proceedings can pay more than 30 employees 1.6 million as a retention award That's the truth Voyager filed for the authorization early this month a move that voyagers organized creditors opposed this past Friday This program has not evolved the senior management team and data about these individuals would typically not exist in the public domain We note that no creditor or shareholder or economic stakeholder has Objected to the motion to seal. That's not what they're complaining about. They're complaining about it's 1.9 million That's that's from the depositors Why why do we have to do that? The information has not been withheld from anyone who asked for it said Michael Slade and tourney with Kirkland and Ellis representing Voyager Voyager originally filed to pay 38 employees a collective 1.9 million But some employees have since left like can't blame them honestly Slade said the company plan to implement cost-cutting measures over the next month Which would result in a savings of 4.6 million. I'm on board with that. That sounds good Darren Aspen turning with McDermott will and emory representing the UCC This is the committee that sits down and actually represents us the sharehold the other shareholders The holders of the crypto in Voyager Said one of the creditors main concerns is cost reduction, but Voyager's concession and announcing the annual life savings Addressed that concern and just what I said. I thought about it. I Thought about a lot actually and I got to tell you for 1.9 million If in some way this pushes the sale of the Voyager through and These people are undue crucial to that process and let it happen. I don't care about 1.9 million I don't care about that all I care about Is that the people that have their crypto on Voyager including myself gets that crypto back as fast as possible? So if it costs 1.9 million to retain whoever these people are for whatever they do To make this happen. Sure. I'm not gonna cry over it as long as this actually goes through Which will leave me to my next point about claims and this is important claims For your crypto Voyager file documents with the court that lists customer account holding as of July 5th What they state as of July 5th is what's going to be valued For what you'll be able to get back and a lot of questions that have been coming about this Well, is that July 5th in the in the money? Value of whatever Bitcoin or Ethereum or Cardano, whatever is that you're holding? No, that's not what it is It's the value or the amount that you hold in crypto the last time I checked one Bitcoin is still one Bitcoin One Ethereum is still one Ethereum. So they're not putting a monetary value on your crypto They're saying oh Rob here has to Bitcoin on there So we're gonna give them to Bitcoin back. That is that is the bigger thing, but there's some caveats as usual so Voyager file documents, blah blah these documents are known as these schedules of assets and liabilities You'll receive an email from Voyager digital restructuring, which will provide a unique link and personal identification number to allow you to view Voyager lists your account holdings your counter information will only be visible to you and not post it publicly If you agree with the records as filed like they say hey Rob's got to Bitcoin and 20 Ethereum and blah blah Then you don't have to do anything just say great just paint it out as soon as you can or give me that back but if you disagree with the information and If your claim was marked as contingent unliquidated or disputed You will need to submit proof of claim on before the bar date of October 3rd 5 p.m. You can file a claim on our case website here I linked this Blog post and the description at the very top so you can find it if you come across this Then lastly and this is the bigger point separately since the establishment of a bid deadline for Voyager X remember Voyager is selling the business There's been new bidders Much of new bidders have requested additional time to get information and submit their offers Multiple offers not just one FTX offer, which was not the greatest I might add but multiple We have agreed with the official committee of unsecured creditors to extend the bid deadline to September 6th at 12 If applicable, we'll have a sale hearing on September 29th So remember those two dates September 6th is when they're going to get all the bids in September 29th Is when they're actually going to reveal who is the lucky winner of Voyager and when will we be made whole so that is the update for Voyager? Let me know what you think about that in the comment section and last up a Little staking update for I trust The D news avalanche stake pool and the D news card on a stake pool. So real quickly I trust capital if you can't miss it. So I think that's above my head constantly Ah They're now allowing investors to stake their crypto as part of its retirement account. So just so you know Roth IRA No capital gains tax, but you have to wait till you fit nine and a half works out pretty well. I use I trust There's no monthly fees. There's a 1% trading fee if you do those things But there's no monthly fee use between I'm bucks, but they waived those things But just so you know they did surpass six billion in volume just a couple of days ago. So pretty interesting But now they're offering this You're gonna get an email if you haven't already and it's gonna say hey if you want to you can stake polka dot That's what they're gonna start off with and just to show you how this is you go into your account I've got six hundred twenty seven dollars watch out of polka dot and I staked it You just there's a little fingers is available on stake. You click on polka dot balance You click on continue if you want to stake it and this is what it is the Estimated staking rewards are up to nine and a half percent duration 90 days continue if you do that say confirm Yes, I do and then it'll say look it's gonna be locked up for 90 days nine and a half percent is the staking reward and This is when I stake number first Our staked on date, which is when it'll happen actually And then lastly if you go to the the next screen available and staked all mine is staked right now So that's one part of it, but wait. There's more and What comes down to this ever since Voyager and Celsius have been a little more Studious about Terms and conditions and what's going on behind the scenes And this is no different. So I want to bring this to your attention If you have an I trust capital account great. You should know everything first of all How do I earn rewards for staking at the end of staking period 90 days any rewards earned by I trust capital will be allocated and distributed to those Who have opted into staking during the relevant staking period less any applicable fees including The I trust capital 20% staking fee So whatever you get so you're gonna you get nine and a half percent over nine days pretty good That's over the year right So whatever you get let's say you get one polka dot they're gonna take 20% of that So now you're gonna have 0.8 dot and they're gonna get 0.2 dot. That's how it works So do those things but wait. There's more Just to make sure other fees for earning yeah, 20% fee on rewards earned for a staked reward and Are my staking rewards taxed because remember in Roth IRA? For crypto as it accumulates you don't pay any Capital gains short-term long-term because that's what a Roth IRA does that's what Peter teal did with his PayPal shares in Late 90s or whatever it was put in a Roth IRA wasn't worth anything now It's worth over five billion dollars and he pays zero point zero percent capital gains tax because it's in a Roth IRA It just how it works However Crypto is a bit different and this is a what we call a CYA document Are my staking rewards taxed the tax treatment of certain crypto transactions is uncertain and is your responsibility to determine what taxes if any Arise from these transactions if you earn more than six hundred dollars and staking rewards. It's pretty good You'll be provided a 1099 MISC in the United States You're solely responsible for reporting and paying any applicable taxes arising from staking I trust capital does not provide investment legal or tax advice We recommend consulting a qualified investment legal or tax professional and that you conduct your own due diligence before making any investment Decision including whether to participate in staking wage transactions. So I've already done this My CPA says there's no clear guidelines. There's no clear Decisions made by the government as far as staking rewards in a Roth IRA. So if you don't want to pay it Rob We're not gonna pay them it. I'm like, I'm not gonna pay it if they want to come at me come at me But I'm not gonna pay it and say here's my money Because there's no clear guidance. That's their job. The job is to set the regulations They haven't done that yet, but that's me and I can't give you any advice on this obviously because I'm not a financial advisor I'm not a CPA So it's up to you. I'm just telling you what I am doing and I've staked all my polka dot and we'll go that route so that's what's up and then lastly Are my assets automatically restake when the staking period ends? No I chose capital does not automatically automatically restake you may choose to opt into the next staking period if you want to and What are the risks associated with staking staking involves considerable risks and they go over a big long plethora of things So that's true. There is staking risks now with Ethereum. There's like the slashing risks If there's some some bad actors, I'm not for sure on polka dot, but I figure like this I look at the at the risk and reward Could I lose everything in staking? Yeah, I could Is that gonna affect is that gonna crush me if I lose $720 or whatever it was worth of polka dot? Probably not so I'm just gonna go down that route and just See how it works now. I've staked polka dot before another platform Seems to work out just fine. I don't see the an issue here But again, that's my decision and you have to make your own decision on that one So let me just think about that in the comment section and let's lastly just real quick The D news avalanche stake pool matured at one year as of I want to say seven days ago So just so you know for avalanche You know you you keep your private keys and all that good stuff So if you want to move to another stake pool go right ahead We are not going to continue for the avalanche stake pool All your rewards are still there because you get control of it and you do whatever you want to so right now There you can go to Dante just crypto calm and just click on staking and there's cardano and avalanche Click on that watch the video. It tells you how to stake it and just do the reverse for Unstaking and transfer it to wherever you want to you don't have to transfer to another staking pool You can leave right there You just won't get any rewards because we're not going to do any more staking with avalanche and lastly the chrono stake pools for D news We just upgraded to The new rendition for for Basel the team just told me they did this last night so you can add that you can chalk that up and there's been some Inconsistency with which one is as far as like if it's blocks protocol version 56 and 42 or if it's nodes reporting version 57 or 30 percent, but I can just tell you right now that we're moving in the right direction We need to have 75 percent total of all stake pool operators to accept the new upgrade Before they can implement the vases upgrade, but we're farther along than what we were before and we are a part of that process So that takes care of the news today. So look, I know it's a little bit longer today a lot of things going on But if you like this video give it a thumbs up all that good stuff subscribe and great great great and if you want to stick around And stick around for the Q&A if not get out here. You've been here for 20 minutes or so But now we'll go over the Q&A. I'll answer all your questions over all things. We just talked about and others That's my best my abilities and let's jump into the Q&A