 Welcome digital asset news or Dan for short. My name is Robin today. Just as the thumbnail and title suggest Apparently is going to buy FTX and this just came about from a tweet from CZ Binance And this was just about 20 or 30 minutes ago. So this is very fresh This is a developing story, but I gotta tell you this is been one hell of a roller coaster It's amazing how you can go from insolvency or illiquidity to a bailout and everything being fine We'll take a look at the story about what exactly happened why Binance buys FTX and then also another development Soon zoo from three hours capital our Sun Zoo zoo from there is capital is back And I gotta tell you I think we are extremely extremely early and last we'll just do a little Q&A because I'm sure Everyone's gonna have questions. I will answer them the best my ability. So let's just jump right in shall we so first things first We actually cover this last three days or so and we talked about look I think we've all learned a lesson from Voyager and Celsius and it was important that we understand that we never ever Leave crypto on exchanges. We use them for what they are. They're just a tool They are a tool for us to buy crypto. That's pretty much it and As time goes on you realize that that's the power of ledger and that's the reason why it's so great to be outside the system So when we covered this yesterday You know, we talked about how you know Sam had come out and he had said look he goes a competitor trying to go out for this false rumors FTX is fine assets are fine and Who is this? Readers added context get a love Twitter. They bought P1. Oh, there's an indirect response to Binance announcing They will liquidate all of FTX native token FTX is enough to cover all client holdings. We'll see we don't invest client assets even in treasuries. That's good We've been processing all withdrawals except for today and we'll continue to be some details on withdrawal speed and so We're heavily regulated even when that slows down. We have gap audits with billion-access cash I'd love it if CZ buttons if we could work together. Oh, they are working together. Let me tell you so Again, I talked with us. I'm like, doesn't this sound kind of like what we heard from Alex Machinsky and Steve Ehrlich from Voyager and Celsius. He's like, it's okay. Citizens. Just keep moving on nothing to see here And then today we got reports that withdrawals were frozen and then we also got other other reports that And of course, there was a difference between FTX global and FTX us my friend Neville here Former veteran or fellow veteran just said that hey, I can still withdraw I can still withdraw Crypto it looks like for FTX us you still can as time is going on but for FTX as far as the global one not so much And this is a problem As I was talking about I'm like Another thing that came up Ontario teaches pension plan investment in FTX at a 32 billion valuation. So This is also a reminder that Quebec pension fund invested in Celsius. So this is going to give us another black eye quite honestly and then more stuff about Uh The illiquidity, but this is the big this is the big big This is CZ Binance This is his official account This afternoon FTX asked us for help. There's a significant liquidity crunch. So You know To protect users we signed a non-biden Binding LOI or letter of intent intending to fully acquire FTX.com. Let me say that again To fully acquire FTX.com. They're going to absorb FTX And help cover the liquidity crunch We'll be conducting a full due diligence in the coming days I'm sorry 44 minutes ago So that's what's happening as as as you remember Yesterday or less than last 24 to 36 hours CZ came out and said look We're going to sell off all our all our FTT tokens or our which is the official token of FTX And these there were some words that were said and that was his decision And here we are right now and I said wow A monopoly is forming all from a previous tweet And it's just perfect timing. I'm not saying I'm not here to say that by answer that for a specific reason But uh, I mean it is what it is and uh, here we are again I want to say congratulations everybody who followed the advice and followed the rules Which are below me at all times Never invest more you can afford to lose. It's all gone. Everything's a scam. Don't put anything on exchanges Take them off use a ledger if you have no idea what I'm talking about Go to danteachescrypto.com. It's 100 free and I give you a walkthrough of how to use a ledger very simple. Don't use leverage 1500 x is a little crazy You know if you're a big trader go ahead and use a little And then take profits along the way. I think it's very simple simple things and then this is what sam Also said this was just came out What's this? just now Sam says hey all I have a few announcements to make things have come full circle on ftx.com's first and last Investors are the same We've come to an agreement on a strategic transaction with finance for ftx.com pending due diligence So you have it on both fronts. You have it cz. You have an spf. So this is legit Our teams are working on clearing out the withdrawal backlog as is this will clear out liquidating liquidity crunches All assets will be covered one to one. Let me say that again This is what sam is saying now what i'm saying All assets will be covered one one to one. This is one of the main reasons we've asked finance to come in and we take a bit to settle We apologize For the thing is can customers are protected. I got to take my hat off to sam. He did exactly what he's going to do He's like look it's it's all starts and ends with the customers and we're going to make sure that this happens Even if I have to sell my entire business A huge thank you to seasy finance and all of our supporters. This is a user-centric development Seasy has done and will continue to do so an incredible job I know there have been rumors and media of conflict between our two exchanges however, finance has showed time and time again that they are committed to a more decentralized global economy while working to improve industrial regulations regulators note that ftx us and finance that us two separate companies All interesting are not currently impacted by this ftx that us withdrawals are and have been live is fully backed one to one operating normally so again That what he talked about there was just about the withdrawals and that's true with what we saw with the friend of the show neville Ftx us withdrawals are not an issue. However They are buying out ftx. Does that mean ftx and ftx us? Doesn't say for certain a hundred percent. I can't say but uh, does it really matter? I mean, this is where we're at and let's see how the market responds Let me refresh this right now in the last hour or so. Hey Look at that In the last hour bitcoin has jumped 5 percent. Let's take a peek uh-huh, uh-huh. Mm-hmm. Yeah, so Here we are once that news hit finance or bitcoin went down and a big jump Pretty interesting. You would think it would negatively impact, but uh, apparently not if there ends up seven percent Finance coin man. Thank goodness. I dolly cost average in the morning Binance coin is up You know, I'm not going to give you financial advice Because I'm not a financial advisor, but I got to tell you Binance coin looks pretty attractive right now. I'm just saying I probably won't buy it But uh, I will leave that up to your own devices as you go from there So finance coin, excuse me Just kidding But I probably should buy some I I'm not telling you to do it. Don't do what I do Doge coin up 10 percent. Jeez everything's up. We should have more of these These acquisitions so right now I need to stress this that this is good right now for what's going on but where does it end Because If you have ftx and how big is ftx, let me show you how big they are matter of fact There's a website and we talked about it yesterday nomics.com forward slash exchanges Let's take a look at the vine. This may be a little bit skewed. Oh It looks pretty good Binance in the last 24 hours The volume was 119 billion ftx and rightfully so 21 billion probably people moving selling exchanging transferring It's a lot of volume, right? and then okay x 20 by bit ftx is using the top five so buy volume Per percentage wise So or number wise so you can see right here just how big ftx is so buy ants absorbs ftx And we have a little liquidity crisis with the next I don't know numbers three through six And buy in steps and again. How far away are we from a monopoly? I mean in reality and what does that mean And really have to ask yourself is how much power does one person have by a tweet? I don't know. I can't answer those questions, but I can tell you that's a lot of power one person's hand Hands I guess So let me just think about that in the comment section, but I just think it's just a little concerning Which is how things Are moving and I'm glad for all the deposit. I personally use ftx, but I don't leave anything on there obviously not But as time goes on is this a good thing or is this a bad thing for the crypto community and I've always said before I always felt like As things start to move and all these just talking about the projects two things in the projects first of all Projects are going to fail and the bigger products will absorb them. They will take away their their ip. They will take away their Developers they will take away their infrastructure and say we're going to absorb you. That's just how it is That's just the business. Is that wrong just how things work? That's a free market And the second thing I will say is that Some people may look at this as negative or positive, but you have to understand. This is just the exchanges This has nothing to do with the project. Was it reported that there was a double spend for bitcoin? Was it reported that a block wasn't produced for a couple days? for ethereum Was it Was there any issues with with the hack for any layer one solutions excluding the defies? No, no and no So when people come to you and say, hey, I heard there's you know a lot of tribulation So a lot of things going on a lot of problems to say That's really just mostly with those exchanges. I just use those to buy What crypto really is which are the exact projects and the decentralized aspects of it and that's why I'm here So make a real big distinction between those two and lastly just to finish up. I thought it was interesting is This is from a friend of the show. Simon you also knows a Simon indicator who still has not got his youtube channel up I guess he's too busy playing poker. That's okay, Simon. We this is what it is He goes and now zoo is back zoo zoo Relying to at kobe and at alameda Shabuco, good morning. I don't know what that what that could entail but zoo zoo is you may be familiar with is uh Well, it doesn't say any more. Well, it wasn't the founder of three hours capital, which is pretty much Largely responsible for most of the mess that are going on right now So amazing that he's got the got the cahones to come out and start tweeting That's a ball Oh, no, looks like gary genzler is uh messing around with my my wi-fi just kidding just electricity here so Lastly, I will say this is that we're early and if you don't and I know people will debate me on this all day Well, we're not that early. We're in the sixth or seventh inning I don't think so. I might tell you why first of all, what's the market cap of our of of crypto right now? It's 1.06 trillion dollars 1.06 trillion. Here's a story 1.3 trillion in equity Banished in housing In the third quarter. Let me say that one more time 1.3 trillion dollars in equity the prices of the houses are going down In just one quarter, which let me do some quick math. That's three months Roughly Has eliminated 1.3 trillion dollars. That is our that is more than our entire market cap So if you think like no no, we're late in the inning. We are so early. We're so early. It's not even funny And uh, if you can get through this again, like I've always said this is like this is like the squid game of finance If you can get through this and hold on and make some smart choices You'll be rewarded. The problem is, you know, who's going to stick around? I mean, I'll be here I don't know if you will but uh, I hope you will hope you stick around But that's it for today. So just want to bring it to your attention. That's uh I did not have that on my who said this. I think it was guy. I that was on my bingo card that uh Binance would buy out ftx and move on but I gotta tell you the markets have responded pretty positively So let me just think about all this stuff in the comment section And that is it for today. So look that's the big news I don't know. There's any really something else might be going on. I don't really know what it is But that's what we got. So if you got to take off take off I appreciate you stopping by just as a recap Susie Binance came out and said hey, I'm buying ftx because sam reached out and he needed help And that's what's happening But if you want to stick around we'll do some q&a if not get out of here If you like the video give it a thumbs up like and subscribe all the good stuff