 That news are down for short. Today's a good day. I'm feeling pretty good There's actually some good news to talk about for once And I think you're gonna like it and as we get our teeth kicked in throughout this whole experience of the bear market Here's what we got so first thing first the Binance auto came in and that is assets and liabilities We've been talking about this for a while. It's not so much to pull out an audit Just to show that you have a lot of assets. It's also important to see what actually is out there as far as liabilities This one came back from an independent auditor. It looks pretty positive I'll take a look at how Polly John Polly gone again is in the news as we talked about the bill to bear and lastly Celsius is going to give back some of the crypto plus my roundtable discussion Had a couple of pretty interesting guests Aaron Bennett, Tiffany Fung and Cam Cruz Which will be available today and lastly the little Q&A $250 worth of ETH and a stonebook giveaway. So first things first the information that we talked about with CZ Binance and it's interesting to note that When we're talking about these things as far as with the audit It first came out that it was the Merkel tree everything's gonna be great because they're going to show us exactly what they had on as far as their Reserves and at first everybody was applauding it and I was like that's not good enough. It has to be something more So this was a couple weeks ago CZ says Binance has a no negative balance is involved in proof of reserves Cheng Peng Zao or CZ founder and chief executive of crypto exchange Binance tweeted on Saturday Again a couple weeks ago. The company's proof of reserves have absolutely no negative balance is involved after the exchange lease that's proof of reserves on Friday Jesse Powell who was the former CEO of Kraken so you know what that's pointless without liabilities, which is true. You know if you just show me like hey Here's all my here's all my assets. Here's the cryptos that we have But oh, yeah We but it we did a bunch of different things on the table and we've got some loans out and we have a billion in assets But we have two billion of loans. Hopefully we get those things back FDX so these are things that we have to take a look at Any states look the Merkel tree is just hand wavy BS without an auditor to make sure you didn't include accounts with negative balances Things that we talked about so not to be outdone CZ said sure we'll have a independent auditor come in and take a look at our records And this is what they found some 97% of Binance's liabilities Collateralized by Bitcoin wrapped Bitcoin. This is from the auditor bazaars and the document itself is linked in the description You can take a look at it yourself, but there's still a couple of questions that I have and we'll talk through it so Again some 97% of Binance's scrutinized crypto liabilities are collateralized by Bitcoin wrap Bitcoin according to this report The scope of scrutinized assets cover Bitcoin to wrap Bitcoins and on the blockchain of Bitcoin there in BNB chain By a smart chain said the report if the out-of-scope collateral referring to collateral other than Bitcoin or wrap Bitcoin is included The scrutinized liabilities will be a 101% collateralized, but the report didn't disclose more details about the definition of what is out-of-scopes What's what they're saying is this 97% of? Crypto liabilities are collateralized, which is great because you have it here in crypto But as time moves on let's say that oh, I don't know that this This market itself starts to crumble a little bit more and things go down now Are we a hundred percent collateralized because we have a hundred one percent? Well, no, especially a Bitcoin goes from whatever it is today having been checked to let's say it's around 17 down to 14 or 15 or 13 or 10 So it's one of these things where it kind of makes me a little bit leery about what's going on But I could be wrong. I could be incorrect Let me actually think about that as we go into the Q&A session I'll answer all the questions, but you think that this is good enough or we need to do a little bit more also There's some other good news Polygon and we had covered polygon. I mean just yesterday polygon came out and said hey, we've Done more as far as paralyzation. It looks like new research Polygon and it's not an innovation. I'll make the polygon chain up to twice as fast the parallel if they're in virtual machine upgrade and Again, we talked about this yesterday serial execution is right right in line one two three four five With block you can kind of move things around and as far as like execute that block and move forward Which would increase the time frame so on top of what they talked about yesterday making things faster Now they just got one into a partnership with Warner music group for NFT projects, and I'm not NFTs to me like we caught the first The first birthing of the NFTs, which was just goofy little Pictures and people were trading back and forth. I don't think that's really what it's all about. I think this is what it's about so the label Warner is Taking an an integral part of web 3 lgnd.io as a blockchain based e-commerce and interactive platform Announced it entering into a mall your partnership with more music now They're gonna collaborate in a produtile legend or lgnd music. It'll officially at the floor in 2023 great and So we are beyond thrilled to announce the monumental partnership with Warner music and polygon We've been working for over a year to live with the best in class blockchain and experience for music lovers and blah blah Okay, with a strong support of the polygon ecosystem Legend music is poised to help evolve the entire music industry great I could have done without reading that part. I'm so kind of boring legend music is aimed at supporting digital blockchain collectibles Which will let its users play the collectibles or virtual vinyls. Okay? Consumers will be that's not important consumers will be able to access and enjoy specially curated content by the favorite artists built on polygon It's providing its users with seamless transactions Web 3 is the power to transfer the music industry the way that we own and experience music is evolving fully embracing essentialized tech and collectibles And the same thing I could have done with all that. So let me just break it down here. So with this one When we take a look at this we're like, why is it so important as far as like NFTs? And it's the same thing that happens with token metrics token metrics came out Iambilina's site. They had a pretty great idea. The idea was we're going to allow people to have Six months year-long lifetime memberships and we're gonna mint it into an NFT And because that NFT what it means that you control that in your wallet and for some reason let's say you're like, you know what? I don't really get into this. This isn't for me as far as talking about I thought it was or I used it for a year or two years or Whatever five years now. I want to sell my lifetime membership Well on every single website that you have you can't do that if you sign up for your lifetime membership You're like, I don't want it like well, it's yours. So they use it or not tough But with this one with token metrics They were able to say if you don't want your lifetime membership Just go in the secondary market go and open C and sell your lifetime membership to anybody else who wants it That way you can either improve what you bought or break even or just you know recoup some of your money So I take a look at this with legend music and as far as like the music that we buy when you buy it on Apple or you buy it on Android you don't have the option to resell The music that you bought but if you buy it this way and it's on polygon and you have it in your specific wall If that's what they're gonna allow to do I think that's the future and you can just go around and maybe Resell that if they give you the option I think that will be the future and that would be the bigger thing to actually say this is what I want to be a part of So, you know, maybe I'm way off base there But I will just to finish up with this is that polygon is they've been doing a lot of great things and just so you know They've had a little bit of a bump today not too big the only thing that not concerns me But it I think it really matter in the long run the max supply is 10 billion Circling spies run almost nine. That's a pretty hefty amount But just but don't don't forget even like Cardona, which is in the top 10 as well They're at 45 billion for the total supply. So I think this type of project is here to Take over a lot of different projects and do a lot of different things and I think you need that type of supply to move forward And yeah, let me just think about that in the comment section and then lastly I think this is good news also Celsius looks like they're gonna Give back some of their crypto finally not their crypto. Excuse me our crypto So this just happened bankruptcy judge orders 44 million in crypto to be returned to Celsius customers. Don't get too excited It's not too fantastic yet So federal judge ordered crypto lender Celsius to return crypto with around 44 million to the platforms custody Programmed customers and just so you know to be transparent. I am one of those customers. I am a custody Person here. Unfortunately, it still doesn't apply to me. I'll tell you exactly why that is so with this one The amount which applies only to crypto held within custody accounts Like myself is a tiny fraction of the billion Celsius those creditors and the latest decision comes after an agreement was reached between Celsius advisors and Stakeholders that crypto deposited in the custody accounts belong to its users, not the platform Let me say that again belong to its users not the platform That's important. We're gonna see a little snippet of it It's important to note that this order only applies to pure custody assets. What does that mean? Great question That means that pure custody assets are those that have never ever ever Touch Celsius's earn accounts and have only ever been held In the custody program So something like myself where it started in custody And I had a big problem when they came out and said that we're only gonna allow people to earn If there are credit investors in the united states if you are the united states doesn't really matter I thought that was a bummer of a deal for people and I said, you know what? I'm just gonna move it to custody and I'll take it out at some point But why should I have the option for that? So that's what I did And uh, unfortunately mine was not pure and mine is stuck there still just like with yours Now there's some people that are going to get some things back Maybe as time moves forward, they will say, okay all custody and maybe something will happen I'm not for sure, but that's what has Also to finish this up Celsius earn accounts which are the accounts unable depositors to earn interest is where the majority Of the almost five billion worth of user funds is currently being locked up Celsius argue Celsius has argued that users who deposited funds within its earn accounts Gave up ownership of the funds when they agree to the company's terms of service Meanwhile on December 5th, the lender received approval for the judge for 2.8 million key employee retention program, which has fallen to her load I'll just speak about this quickly They're going to use the money that me and you gave to them To pay out their key employee retention program, which whoever those people are I'm sure they're doing a bang up job right now doing absolutely nothing just saying 2.8 million gone And this part right here Celsius argue that users who deposited funds within its earn accounts gave up ownership of the funds When they agree to the company's terms of service remember that terms of service Yeah, neither do I I probably just glanced through it just like you did and why we did we do that? Well It's because of stuff like this When alex meshinsky came on shows like mine And other people He would say these things tell me where i'm missing it Just listen real quick Thank you. So alex this question is for you it comes from bob Why is there no insurance offered for deposits of bitcoin? How do I know you'll be around to return the bitcoin? So when you give us bitcoin, it's not like it's ours, right? It's yours legally it is still your bitcoin The only thing we do is when you lend us your bitcoin We lend them to people who pay us interest when they return them It goes back to the wallet and it's still yours from Great good enough. So that's what i'm talking about right there folks Um When you have something in the terms of service and you have the ceo came out and they tell you totally different things What are you gonna do? Well, of course, it's all legal speaking and it goes back to the terms of service and here we are so that's the things that really Really grind me but here's the thing And i'll make this quick Is that we have to deal with the things that we can change the things that we can't change So right now what does it do right now for us to get all heated about it? Not too much We just have to take those lumps those losses and just keep moving forward Hopefully we get things back and that is what it is. Let me know what you think about that in the comments I'll be spicy as we go from there and then also We'll get to the 200 dollar eith giveaway, but um We just There it is I just had a a nice little sit-down conversation with erin benett Uh tiffani fong and cam crews who are on top of their game as far as what's going on with celcius This a couple of nights ago, and I was just able to edit it and put it out. So from here what i'm going to do is Make this public So right after you we get down with the q&a go check out that video because the things that they said if you think That celcius has things under control, especially with bitcoin mining Just check out the data from what these guys tell me and again if you want if you're looking for that video You can check my channel, but also I put that into The description the cell discussion blah blah blah. Here's the link itself, and that's it So now let's move into the q&a and of course the giveaway. So we've got This sweet giveaway, and it is $250 an e. Thank you to lady's nft So first of all there in conjunction with the d that's nft And of course the lady's is going to have a play to earn game like a real one Which actually earned different tokens and things like that which looks interesting to me But on top of that Or is it this one first so we can see it? Let's give away this and i'm also going to give away a stone book Which if you haven't seen those they're pretty nice. Let me just do this So we're gonna do this live so no one can accuse me of shenanigans. Let's see Twitter picker right Go here load tweet okay And then let's see here And this was the one Thursday 12th today, Thursday 12th December 8th. Is this the 7th of 8th, right? Yeah, okay Just making sure we've done this like the last two days. So let's see must follow at news asset and at the b and ft that was What's uh stipulations Let's have a picture description. I can't even continue A lot of a lot of people continue and begin the draw Great big 14 winner very nice. So Big win i'm going to follow you so you can message me directly give me your ethereum address Or your ethereum Yeah, one of your ethereum address then we'll have two of Adele's worth of ethereum shift shift over To you and also Also on top of that you're gonna get a bonus you're gonna get one of these shield folios Which is what I use to keep all my mnemonic phrases. They're uh Water resistance They're not or they're waterproof. I should say they're not fireproof. So they said i'm on fire It's gonna be a problem tear resistance smudge resistance on with these mnemonic phrases. They should last uh years in there without Degrading so you'll be wanting one of those books if you'd like to get one for yourself to control or to Have all your mnemonic phrases. It's a link in the description fill your link. I'm gonna give you 20 off But uh, yeah, check that out and that's what we got. So that concludes the day with the news. Look flight today's video Thumbs up subscribe all that great stuff. But now we'll get into the q&a So i'll answer all your questions the best of my abilities and we'll go from there So let's get into it. Thanks so much for stopping by and let's do q&a Let me get rid of this best part of the show That's right Ah Jeff you says What's the benefits when you get a membership if it's a membership here? It's really nothing So like we have a membership. It's like don i9 for the Dan Visual asset news youtube channel, but you get it zippo whatsoever