 Great welcome digital asset news. I could top stories in crypto or even on a bite-sized piece So today just the thumbnail and title suggest we're gonna take a look at the court documents Putting out for the chapter 11 bankruptcy from Voyager and how that really intermingles with what's going on over at circle Or USDC so we'll take a real quick look at the market Then we'll talk about chapter 11 the documents that have been put forth on Friday and then I'm gonna show you a little bit of a history and How you should probably puckle up potentially for some more downside and then lastly Everybody's favorite Clown news we'll talk about Solana getting sued and this kind of reminds me of the XRP retail investor Lawsuit all the way back in 2018 so we'll go over all those things but first let's take a look at The market and as I talk about Sundays are for dips and that's what it is it seems like every Sunday sometimes people say well early Monday also you'll see dips because people try to You know try to take a little bit of either either not profits But they're just trying to liquidate and cover some other nonsense that may have may have done and of course There's only one market that's liquid 24 7365 and for for most people That's crypto and digital digital assets and some people say what about 4x? Well 4x is liquid 24 24 hours a day only five days a week, but you know there's a little bit of difference there So when we take a look at the market itself, yeah, we're down again down 3.8% Honestly, I think that's doing pretty good for what we're gonna talk about in a little bit and we're yet again below 1 trillion market cap, so Bitcoin negative 3.6. Let's see anything up Nope expect more of that expect more of red days. I hope I'm wrong. I hope I'm wrong about that, but as you're gonna see The things we're about to talk about it's not leading me to a very oh we'll say a very bullish type of outlook and of course, that's why you come here just to Get your daily dose of pessimism Psyching as I say, so that's what's going on the market. Let's take a look at this this Voyager bankruptcy And actually there was an article recently out. It was on Bloomberg and Yahoo finance picked it up And it took a look at just some different stories about people who have lost a ton of money on Voyager just by keeping it there Now on this channel the timeline was was quite simple I had been talking about Voyager for quite a long time And then when I of course when Celsius started to go down Put out a video on June 12th in the morning and then nine hours later with draws were stopped Which made me very weary about other things and then of course when the documents came out that You know Voyager was doing uncollateralized loans for three arrows capital Over up over a half a billion dollars. I'm like, there's no way this is gonna last so on June 22nd put out a video take all your crypto off and That was it and then of course on July 1st. There's a solid amount of time They stop withdrawals. So this is what people are in right now And it's just sad to see now. I still left a little bit of my crypto on there because I try to do I try to follow the rules Listed below meaning that I don't try to invest more than I can afford to lose Which is why I say it's all gone when you think of it that way then Then you get a understanding of where your threshold is Next one is everything's a scam. I think we can all agree that everything is potentially A scam until proven otherwise trust Is not for everybody so verify Don't trust and the next one don't leave anything in exchanges very simple Anything on centralized exchanges are due to go down and this is the one of the first times when you can take a digital asset And take it off of a platform and you can control it You couldn't do that with cash I mean you can say cash out But it's not in a digital format You got to hide it on your your mattress gold and silver do the same thing But again, you got to hide it somewhere and then this is the first time we actually take it off Put it in cold storage and be just fine Next one is no leverage 25 50 100 points 100x leverage, I don't that's not my thing and then of course lastly Take profits, but these are some of the things that we're going to be talking about for the next Well every single day until People stop watching me those will be my rules. You don't have to follow those rules a lot of people Have adjusted them in their in their way shape and form. I'm not an eventual advisor, but this is just things that I try to live by And uh, this is the problems I'm not millions of dollars This is the article pretty good And it starts off like this I think we've been talking about this Quite a bit voyager is not fdic insured and this is just from yahoo finance It's not from me saying this is from the reporters at yahoo finance and actually bloomberg. This is the first one Despite its advertisements that in the rare event your usd funds are Compromised with the company or our banking partners failure You are guaranteed a full reimbursement up to a quarter of a million dollars It's banking partner metropolitan commercial bank is fdic insured But voyager is not it's kind of interesting because You know, steve relook the ceo put out a tweet a couple days ago It said you will have access to your dollars After an audit by metropolitan commercial bank. So we'll see how that works out And then uh, this is interesting learning this the user of six years said was like a kick in the stomach. First of all, uh Voyager hasn't been around six years. It was created in 2018. So I don't know how the heck that guy Uh was using it for six years But maybe we just that's just a quote and you know, people get people get dates wrong. It happens Voyager, however, is trying to restructure and not liquidate. This is true We're going to take a look at those documents in a bit mean that hopes to return At least a percentage of its customers investments according to court filings. I like that. I mean if we have to take a haircut That's what it is Just weeks before voyager fell for bankruptcy protection CEO steve erlich stated that customers assets were safe In early june voyager tweeted that all products and services are fully operational And remain unaffected by current market conditions Including trading rewards the positive withdrawals. We take risk management very seriously And safeguarding customer assets is our number one priority. So If I was a lawyer and and truth be told I am not You can make a case that this that yeah, that's true products and services on in early june were fully operational at that point Uh and remain unaffected by current marketing conditions. I don't know if that's 100 true You could trade rewards the positive withdrawals were available at that time And when it says we take risk management very seriously And safeguarding customer assets are number one priority. I got to tell you I think you might have a case there Not a lawyer, but if you're going to give uncollateralized loans to a bunch of degenerates And it's debatable whether you know it or not that they were probably they didn't know sure whatever But they did give a lot of money away uncollateralized and that's just insane to me This is what that struck me Was interesting. I I didn't know this uh scott melker well-known crypto investor in podcast with Almost a million twitter followers tells fortune that he's been using voyager since 2019 And his multiple seven figures stuck on the platform. So look scott melker. That's the wolf of all streets wolf of all streets Pretty big podcast youtube channel, you know twitter and whatnot and I just thought it was amazing that I mean that guy's been around for a while And as far as an investor goes he's more of like a trader. I believe And even in this situation, I mean he got stuck too Multiple millions of dollars. I just thought that was Interesting how that worked out. So that was just that one story Now let's get into The presentation and we had talked about this yesterday, but there's some some questions that came up and especially those questions were Uh usdc stablecoin and circle and this is going to lay it out This is going to be part of what lays it out And then we have to go over to the website and look at who actually owns circle The products that are behind it. Who is the ceo? And uh, and how are they protecting usdc? So let's just jump in so this right here Is the presentation that is given to the bankruptcy court hearing this was on july 8th. Let's take the 10th So there is the 10th. Yeah, so Friday and we talked about this yesterday again, but it's worth repeating Voyager has and this is the great thing about bankruptcy I mean, no one wants to go to bankruptcy. Let's be honest But you have to be transparent and you have to put everything out there So that you can restructure and if you don't put everything out in the right way legally you are Essentially going against what the legal terms are for bankruptcy chapter 11 So you have to be as transparent and open the books as much as possible So voyager has over 110 million of cash and owned crypto assets on hand. It's pretty good 110 million But you're going to see that they're In debt for a 1 point something billion 350 million of cash is held in the benefit of customers account at metro commercial bank metro politics and that's the one that we just talked about at fdic So 350 million of cash your cash Is held over there Approximately 1.3 billion of crypto assets on platform. That's that's interesting 1.3 billion dollars of crypto assets on platform And they owe 1.2 something billion in loans Claims against three arrows capital of more than 650 million dollars. Oh what happened there? I don't know And this is the overview. This is how things work again. They're kind of like the hotels.com They just find different crypto exchanges find you the best deal and try to Give you a savings and they pocket the rest. I think we can all Understand that part great so overview Trading custodial services and lending. That's what screwed them lending part There's over a hundred unit crystal assets to trade 3.5 million. I didn't know they had many that many users 3.5 million active users They were making some pretty big headway, but it just takes one bonehead to move to really screw it all up And this one right here is where I think a lot of people got Got confused I got confused And I'm going to ask for feedback in a bit, but this is the timeline 2018 Voyager founded so I don't know how that guy was doing them for six years, but whatever Uh became publicly traded as far as a publicly traded company in 2019. They launched apple They acquired ethos, which was the french exchange, which would have allowed them to branch out into The eu but they just that just didn't happen for whatever reason Anyhow and we're app launch pad and this one in early 2020 acquire circle I'm sorry lgo is the uh is the exchange of france. Excuse me ethos was the cryptocurrency Uh early 2020 acquire circle and I was looking at this. I'm like circle the entire company. So this is what we have Uh february 12 2020 welcome circle invest Voyager acquires circle invests retail customers uh Voyager is interested into a strategic agreement to acquire circle invest the retail digital asset business from circle internet financial ink including all of its retail customers, which is what which is pretty sizable. I believe it was Yeah, we couldn't be more excited to welcome circle invest 40 000 plus customers to the voyager community. So That is uh, that is a part of circle let me Break that down. So if you go to circle.com forts and if you speak english like me Ford slash en I there's a link in the description. You can find it And if you take a look over at products so circle invest Used to be one of their products as I understand it So you have now you have circle accounts You have circled yield offering business crypto returns within the complexity Built on usdc and fully secured by bitcoin collateral and this other one called seed invest Which I thought was kind of interesting where you can be an angel investor So, uh, I don't if you want to know how to become a millionaire as an angel investor Uh start as a billionaire. That's it's an old joke But uh angel investing pretty risky stuff. That's not my thing so Again with circle Which is let me go back Which is uh, the entire corporation which is circle internet financial ink They have many products and one of those was Uh circle invest So I think there's a little bit of a difference As far as products goes so because people are asking about what about usdc if they own all of circle Does that mean that the usdc collapses because uh, you know Voyager is Is in chapter 11 as I can see it This is how I believe it to be true that uh, it's just a part of the company and then to get into it Here was uh, the old website circle invest And it talked about discontinuation of circle on april 28 2022 the circle invest mobile app Will start the process of a discontinuing functionality as well as support for all us customers. Why is that? because the fact The faq says I was previously informed that my account will be converted over to voyager Why has that not happened? Most of our customers accounts and funds were converted to voyager at the end of march 2020 which would be in timeline with of course, uh, when they bring the announcement in february 2020 So again, just circle, uh invest and then This is the ceo jeremy allaire for circle who they They Crypto payments company that's uh created usdc and this is on july 6. He says with so many crypto lending platforms under stress We wanted to provide a detailed update on circle yield and now we perform to manage through this market once so remember the timeline for Voyager Was july 1st is when they shut down withdrawals and here's the ceo of circle and let me just clarify some things so What he talked about was circle yield built differently again different products circle yield seed invest Then you have your circle account for clarity The usd reserve is entirely separate from circles other products and services and protected by laws and regulations. What is that? Now this Try not to snort and chuckle Because it is pretty funny of a of an article, especially as they lay it down in the way that they did so props to jeremy foxtring Your money is safe Your money is safe. So says every single ceo Of every single financial institution everywhere right up until the moment it isn't isn't that true All financial institutions are inherently risky. That's why society developed layers and laws and regulations Desired to make them safer and protect consumers and I got to tell you I know that this is not the industry that likes regulations But who's with me now? Just asking the question Stick it on the comment section. I mean some of you hate regulations. I can get it But how many of you are like maybe just a little Safe is a relative term not an absolute there is always risk our risk management capabilities our world class Is the other thing said by every single ceo of every single financial institution everywhere Right up until they aren't when doors are shut and customers can't get their money back This I love this part here. US DC is different When I was reading this I was like, man, that's ballsy to say that but okay. How is that? And again, not financial advice is just the information they put out. I don't trust anybody Delivering sound money on the internet just like billions of people use the internet to exchange Trillions of bytes of data each day We believe that billions of people will one day use the internet every day to exchange Trillions of dollars of value near instantly and nearly for free. Why am I saying this? It's because it gives you an idea of how a long term Corporation Tries to situate themselves For massive success as time goes on I'm gonna read this article and I'm gonna tell you a little side story This will benefit everyone releasing billions of dollars trapped value e g 2 plus 2 t plus 2 settlement times I know if you're trying to do wire transfers or anything like that the settlement time is a bit long Especially if you're doing globally reducing economic rents Aka 6% fees, which is pretty good I think it's much higher in some places 6% fees on cross border remittances 3% fees on credit card transactions And actually here in the united states is 2.9 2.9 plus 30 cents transaction fees if you use in stripe or paypal Accelerating financial services innovation e g long tail and financial inclusion now e g increased access to wealth storage Minimizing risk with usdc is our economic incentive. So that's what we do. So let me just back up for a second Just tell you this I never understood people Let me get this out of here. I never understood people when they had a great product They would throw it and screw it up by just doing some of the most shady stuff of all time or just Not thinking or having a really good structure around you to to safeguard that see this pool here. I know I'm always saying it's a green screen Shocker. It's not a green screen This pool we first got it Uh, there was a company. There's a look like a great company And they had done some pretty good work in las vegas and new mexico and then they had they were branching out into here So they claimed when I took a look at their stuff. It looked pretty good Guy came over is like, okay. This is going to be x amount of dollars Half upfront half upon delivery great Came out here dug the big pit everything was good and then didn't see him for a week Then four weeks Then six weeks then eight weeks and there was always an excuse all the rain all the sun all the wind whatever And we to take that person to court because he never came back to finish the job and I was just it was just It made me flabbergasted. I'm like if you have a good product Just do the right thing at the right time with the right people and you can have a massive successful business That's all you have to do. It's just like the military just show up with the right uniform and don't screw up too bad It's just it's just amazing to me. So like when I when I see someone with circle I'm like, okay, well that that makes sense that they want to be a real global power in the future And they have to do these things will they do it again? Hard to trust anybody these days. I'll just be honest with you. So to finish this up Uh, usdc reserves are protected by laws and regulations. Sometimes laws and regulations aren't a bad thing When we first launched usdc, we had to persuade regulators to regulate us. That's crazy to think about Circle is regulated under state money transmission laws and usdc is regulated as an electronic stored value instrument Money transmission laws provide that circle maintain legal title To the usdc reserves. What does that mean? Well, first of all, they don't have an equitable interest unlike a bank or exchange And these reserves are assets that belong to usdc holders not circle and are held in segregated accounts designed for the benefit of usdc holders circle is not allowed to use the usdc reserves for any other purpose Like a how a bank can loan it out or an exchange and unregulated institutions We can't lend them out. We can't borrow against them and we can't use them to pay our bills And that was I guess I gotta tell you and this is not going to be popular You know when that that that document came out about coinbase How and people like that's just fun. That's just fun and in there it talked about how they don't separate the assets of the individual Investor who is using coinbase to hold their crypto They're not separating that as like a separate type of entity and they can use it for whatever they want to meaning that if they go bankrupt And we see this going on places that they can use those those cryptos and digital assets to give themselves out of bankruptcy That's essentially what it came down to and what there's what usdc is saying here is we don't do that Everything has to be separate and it's actually the same thing. I hate to say it Good old gary ginsler brought that up in a congressional hearing. He's like, I'd like to see everything separated I don't shoot the messenger. That's just what it was so then in the most unlikely In extreme cases of a circle bankruptcy segregated usdc reserves should remain redeemable at face value I like this word though should remain. I don't like that word should should Shielded from circle creditors and separated from bankruptcy estate for the protections afforded under state money transmission laws section 651 of the new york banking law to be clear usdc reserves are separate from the rest of circles businesses And operations and are protected by laws and regulations again if you came here late Where to go Different businesses are you know me circle account circle yield and seed invest a little bit different than What's I believe Voyager took over I could be wrong. Correct me in the comment section, but That's what we have and this was the most important to me as far as usdc usdc reserves are managed managed to minimize risk We hold approximately 80 percent of usdc reserves and us treasury bills 80 percent With the rations of three months or less. These are considered among the safest in the world back by the full faith and credit of the u.s Government, I know everybody's laughing right now, but sure Sometimes I got to tell you do you want the full faith and credit of the u.s government or the full faith and credit of some organization that's been around for four or five years Just saying we hold approximately 20 percent of usdc reserves such as cash within the u.s Cash within the u.s banking system with partners including silvergate signature bank and new york community bank among others And they talk about how they try to segregate it because it's only 250 thousand dollars per account Or per section for fdic We hold cash in the banking system so we are able to redeem usdc near instantly upon request And this part's pretty funny If customers have accounts with certain of our banking partners They are able to near instantly mint and redeem until usdc 24 785 even when the u.s banking system is closed for business Which is most of the time And that's really what it comes down to as far as circle because when I took a look at this Acquire circle again on voyager That's circle invest And I don't think because if you take a look here again that circle and the company and let's see Circle ventures how about You know your CEO is still Chairman jeremy allaire who actually testified before congress and said hey, here's our audit Here's how we're backed a hundred percent for all assets You can still get a ceo and so on so forth so Again as I look at this it doesn't appear that voyager bought out entirety of circle They just bought out What was called circle invest retail customers. Okay, so back to the story Uh, this is where it gets juicy Here's the debts So I just found this odd though alameda ventures um They gave them a loan of 200 million of usdc and 15 000 bitcoin, which is about 500 million Right at that point And then uh, I think it'll go down lower 75 million usdc So that's a pretty chunk good chunk amount and then of course At some point alameda and remember this is alameda ventures and alameda research. There's a different part of the company That is sam bakeman freed in ftx and all the different companies that he has but and we'll talk about that in a second, but It's it's it's it's an alameda ventures 75 million. So you can see that unfortunately they say this is Total of 75 million because that's what they drew up, but they still have 15 000 bitcoin And 200 million of usdc. So 500 700 million dollars But they still have I guess just hanging around But they unfortunately have a massive amount of loans out three hours capital. They're not going to get squat back very little So at 654 million kiss that could buy maybe 90 percent or more Alameda research, I mean, they're still there. We'll see how it goes Novigrat's galaxy digital they could probably get 34 2017 13 and 75 0.75 But it's not going to equal up to this and that's where the liquidity and the solvency issue comes from and so on and so forth Anyhow headwinds and then it just talks about all the stuff that we know about the markets kind of sucking right now and of course When the tide rushes out we see who's swimming naked Unfortunately unfortunately And again, it talks about stablecoins and ust three arrows capital. What does it say anything good? Oh, I will tell you this there was a story about three arrows capital is a singapore-based hedge fund um Son zoo it forgot his name zoo and his partner When they went to the bankruptcy court the lawyer said we don't really know where there are they're not in singapore That's all I can tell you so Those guys are gone 3ac was heavily invested in luna In on june 27 3ac was ordered by a court in the bvi to commence the liquidation proceedings and on july 1st 3c commenced chapter 15 proceedings in the bankruptcy court for Southern district in new york, and that's pretty much the same time wasn't july 1st when they shut off. Yeah july 1st is also when Voyager shut off withdrawals I like this the proactive steps. So what do they do? What did they do to stave this off? Here's what they did They filed chapter 11 They lowered the gate on july 1st They called it a fault on june 27th june 27th 22nd Which is actually pretty good company enters into a 500 million alameda loan agreement june 15th I don't know how that's proactive dowenders bear market according to wt and luna crashes. I think the proactive step would be not loan out that that huge massive amount So these guys Uncollateralized But again How would you collateralize that loan 654 million? We want to loan 650. Okay. We'll give us one point So you have to give us 1.2 billion. We don't have that. Okay proactive steps So just like we saw with like alameda ventures and alameda holdings or whatever else these are all the different companies corporations llc llcs That are under Voyager, so of course the top voyager digital limited is in canada public traded company You have voyager digital holdings in delaware htc brokerage digital brokerage lgo sass voyager europe in france. I didn't know that even existed different them Still didn't rule out Voyager intellectual property llc delaware and a bunch of different companies of where they can kind of parse things out so it kind of helps to do that to avoid some type of Creditors and paying everything back and here's the juicy stuff. Here's the restructuring process You got two options. You got two flavors pick your pick your choice You can do a third party plan or sale meaning they're going to sell to somebody. Let's say sam bankman Hey sam buy this okay And then the third party owns equity of the reorganized voyager or a big chunk or the majority Or they say, you know what we're not going to get that we're going to do it ourselves There's a standalone restructuring and then customers own equity of reorganized voyager. Well, how does that look like? There's again, there's two You got the third party or the standalone and the third party transaction is negotiations and they've already talked to 60 different places 20 showed interest And only one came back and said Then we might be able to do this on the timeline affected And that's why they went and said bankruptcy because maybe they're looking for the other 20 to go Okay, look, we got some more time Which i'm okay with Take your time Just want my my little money back So again account holder claims account holders will receive this is what will happen if they did the standalone account holders you and I we'll see if we'll see we'll receive a pro rate of share of One to be determined percentage of the specific crypto held by such account holders again probably take a haircut Here it is 90 80 percent of the value 100 percent of new common shares in reorganized company So you would actually hold shares of the public trader company looks like And then you'd also get void your tokens And any recovery on account of the 3ac loan Newsflash not going to happen too much So you could potentially get this you could take the the haircut for the crypto if they do the standalone You could also get shares in the company And then you you could also get bgx tokens plus and then they get back with 3ac like hey, we got back 20 cents Here you go So that's not okay. That's an option The plan will provide a mechanism of which each individual account holder may elect to increase its pro rate of share of new common shares subject to certain maximum participants Other unsecured claims other general general unsecured claims include Sorry All need adventures Shall be canceled release discharge all using equity. Da da da. Okay. So that's what we got here. Let me make sure hold on and Yeah, perfect So here's what happened they reached out Through legal matters or legal representatives said hey, who wants to be part of this 60 came in 20 executed an d.a And then because the time frame only one said yeah, maybe we can do this Which is better than zero But i'm thinking with this this is what's going to cause them to Because of chapter 11 to give them more time And then it just goes over. Let's see Voyager is facing several legal and operational challenges including attempts by several states to terminate the company's money transmitter license That would violate section 525 And then objection to the company's chapter 11 processes to provide customers clarity Companies are assuming all of their luncheon and da da da and that's pretty much it Some bitcoin first gold says if I was the judge about asking some serious questions. How many is both investor credit or debtor to the company So that's The documents in a long nutshell so Let me just think about that in the comment section, but I think the big thing was just Where it stated that they had purchased circle and didn't seem like That was that was actually the case they they owned a they took over a part of circles subsidiary and said we're going to part this Which left them with What was it called Circle yield and seed investments and again links in description for All the different documents we we took a look at so the question that would be well, do you feel safe with us dc? I don't trust anybody anymore. I don't feel I'm trust tether I mean us dc makes a pretty good case, but I mean how many times we heard these good cases and then they come on go Oh surprise. There's just one thing that we didn't say so to me it's just I uh, I would rather just be safe and to be safe I would just take it all off and if you think that well, what about you know to to dpeg and and whatnot if you don't if you feel like And I can't again I can't tell you what to do Not your dad. I'm not sure a financial advisor But for me personally, I would probably take a lot of it out I'm going to take a lot of it out and just go into cash And people will say well all the inflation and something like that. Well, look I'm okay with eight and a half or 10.5 inflation over the year over time as opposed to having everything dpeg Just saying I think now was the time to be a little bit more safer and prudent than to be a little bit more risky and talking about when lambo so I'm interesting about that comment section. Let's finish this up because we went a little bit too long on that one Buckle up for some downside more good news. Sorry Oh, there was one last thing I would say like this Hey when I screw this up, but you know how we just went over went over everything and Everything was laid out there. It pretty much told us like here's the debt. Here's who we have in the debt Here's what we have available right now. Here's what we're trying to do Here's where that, you know, here's how the the structured plan would go. It's very transparent, right? Did you like that or would you just like no one to tell you anything? Up to you and this is what Simon Dixon was saying about Celsius And I gotta agree with them Celsius now our community keeps asking me what they can do Simple request Celsius share their financial position of the entire company Not just the subsidiaries like all other distressed crypto lenders under nba with bank the future So if you want to see something like that, let your voice be heard tweet it out Tag washinsky and tag Celsius and go. I want to see all these things And we'd like to be a little more transparent because we don't know how bad it actually is So tell us how bad it is. We can go in the right direction So that was just that part and then this was very quickly Some downside this was uh, just Seper graph is from Pablo Heeman. I got farm investment bank trader fresh ideas and cryptos on it It's just still data. It doesn't matter So this is uh, just taking a look at the s&p 500 has officially entered the bear market because it's declined 20% Without a 20% rally and we can see I mean s&p is gone. You know, this is I believe this is here in red down 20% So I think we're at 79 percent So it's all time high over time Or just over the over a certain time frame and you can just see that Usually what happens is you're looking at between If you want to want to go depression level you're looking at a reduction of 65 percent Which is not great, but somewhere around here Some around 50 percent maybe 55 percent Just in the official s&p 500 And if you believe like I believe that we're pretty much correlated to the traditional markets nasdaq and s&p 500 We've gone down pretty substantially So you're gonna see a little bit more more downside coming forth Especially with the market starting to go down again. What's what's liquid 24 7 365? It's us and that's where a lot of people invest in the market go to To pull some money out to pay other things they do and all the degenerate stuff that they are happening So let me just think about that if you think that's a possibility or you think hey All-time highs baby 2022 is the next year when lambo. I'd love to hear that one in the comments and then lastly Let's get to it Uh, and I need you guys to help me too. So this is clown news. I love this stuff Solana is investing Solana investors are suing solana because they say it was a unregistered security and I have to tell you I think this is It's funny because it's the same thing that was going on beforehand when Ripple got sued by an investor Staying it's a security and this thing just keeps happening over and over again. There's there's no changes This time is different. It's never different and you're gonna see more lawsuits coming forth of investors who said Ah, you know what? You didn't tell me it was a security and the same thing that happened here So here's what's going on with solana just real quick Uh, solana investor filed a class action lawsuit against key parties in solana ecosystem For allegedly making misleading statements and profiting from selling unregistered securities Mark young filed on july 1st. This is against the ceo The investment firm multi-coin capital and co-founder kyle samani from falcon x so again, um, this is the thing I believe That if we don't like these things to happen, this all it does is just cause more negativity and then we get you know these projects that get embattled into legal Processes and then of course there they lose share and then just kind of wipes it away. How will we just do this? Let's just rip the bandit off. Let's just say okay, gensler You want everything as a security go right ahead make bitcoin a commodity you've talked about before just do that Let's have everything as a security and then all these crap projects that are out there That are just small and just sucking away small amounts of liquidity all 19 000 Now they had to be registered as securities go right ahead have fun And then some will die and that's how it has to be and then the stronger ones might get Snatched up by bigger projects then they can pull the resources developers and marketing and things like that and they can actually grow i'm tired of all this these worthless projects quite honestly and Then of course if everything's a security good luck suing and then go from there Anyhow, let me just think about that in the comment section and that concludes today's Stories today's news first of all two things Is the music too much? I don't know. I don't know if that was too much. Is that uh too loud? Or it's like that just a perfect tone the perfect touch. Let me know in the comment section. Let's get on to Q&A and go from there Oh, if you have to take off at sunday get out of here go enjoy times Ah fun times fun times Music kind of annoying. That's true Could barely hear it. Great. Now it's cool. All right