 Great. Welcome to Jill asset news. Take a top stories and crypto. We're gonna bite-size pieces. So today There's a ton of stuff to go over. So let's just jump right into it We're gonna talk about my day off yesterday and what's going on I'll take a look at market and as far as balance and what that means we're taking a look at some Bitcoin signals accumulation Stines, but it could go lower. I'll talk about how Coinbase just received two new lawsuits And I'm wondering if they change their terms of service Then we'll take a look at how Binance and wazir X are feuding. I'll take a look at the good news Which is a polygon and voyager. So let's just jump right in now. So today is a pretty great day Saturday And I got to tell you before we get yeah before we get into the markets Yesterday I had to take a day off because I just not feeling right. I don't know what what is going on at a go to couple doctors, so We'll see what it is, but it's like this like a wave of like Fatigue just kind of comes over me. I thought we're just working too hard. So I took the day off But still there so we'll see what the doctors say and go from there But just expect me to be taking more days off as time goes on So that's really what's going on. I miss yesterday's DC a show over there with Ben and James But it looks like a good one. So we'll check that out anyhow the market today Even though I'm a little bit a little bit tired you got to get things done doesn't matter Bitcoin Than everything else is a playing playing pickleball. It's like back and forth So in last 24 hours, we're looking at 1% up 7 days 3% down Ethereum 2.6 up 7 days 2.2 down and and just everything around I mean some are up Binance and XRP and 2.3 and 1.7 for crown or just all over the place I think everything's moving sideways avalanche congratulations avalanche holders and so on and so forth This just really comes down to what I like to talk about as far as Balance when I talk about balance as far as portfolios when things when something goes goes down You want other part of your portfolio to go up? It's the same thing with doesn't matter if it's crypto if it's real estate if it's land if it's stocks bonds precious metals Whatever else you kind of want to just kind of balance things out and just kind of spread your wealth That's what I've done here with mine. This is an investment advice is something that I've done more specifically and then a lot with or some things with masterworks a very small percentage of my portfolio 5% and this is called fractionalized shares of artwork and I've only got two banks in a basket. I have no idea what a basket is or who he is apparently is a great painter I have no idea But the thing is with fractionalized shares of artwork rich people don't care if there's an upmarket or downmarket They could care less and to prove this point is that my basket is up 40% since I purchased it in October 13 2021 which is not too bad. And if you think about it, I thought was this normal. Well for masterworks It's pretty much an average between 27 and 32 percent annualized returns for the last four that they've sold everything But banks you do a brown again, and I know what a banks you have the rest I have no idea and this is what we talked about uncorrelated Masterworks compared to like these losers Russell Nasdaq and S&P, you know masterworks What they're selling is up 15% as composed of those other ones and another thing that I liked I like about this Because we're in a pretty volatile asset class is that these are securities and every painting it is registered with the SEC So look if you want to learn more about it and just you don't have to but there's a link in the description I did a deep dive looks like this and also there's an affiliate link now if you can't stand affiliate links Don't use it go right to masterworks.io and check it out So that's what we have as far as like the balance just something that I'm doing on what you have to do now Let's take a look at the signals. So This is what I like to use it's called look into Bitcoin It's a website. That's a hundred percent free But I signed up for it you can get alerts like this which I think is pretty nice because I got a lot of things going on Especially with evidence going on lately so with this one I was like, ah the the pull multiple is Exiting oversold zone. So I like these things so that kind of keeps me on top of stuff And this is what we got Pulls multiple if you don't know and I didn't can tell I got into this website It's a it's all about Bitcoin miners Bitcoin miners are sometimes referred to as compulsory sellers due to their need to cover fixed Costs of mining hardware in a market where prices extremely volatile The pull multiple is calculated by divine a daily issuance value of bitcoins by the 365 day moving average and The average as it comes out to is if you can take a look here That every time it goes below this green line and there's multiple multiple different Charts you can take a look at as far as like accumulation zones. These are like the great Accumulation zones last one was May 22nd 2020 before that December 9th, 2018 before that 2015 and of course well 2011 but who was around from then and we were just there for quite some time and it just peaked above The accumulation zone does that mean that it's a bad time to buy probably not if we take a look also at the rainbow chart indicator again Another other great one to take a look at if this if this is a time to accumulate or not We are down. Let me blow this up so you can see it see this blue called the fire sale We've been in there since June 13th or so and we just peaked above it And we're in a buy zone and the next level is accumulate next level above that is still cheap The next level is hodl and is this a bubble and FOMO and so on and so forth So when I take a look at these things I know that there's a big difference between what I do and what say a day trader might do or Swing trading I am an investor So for me when I take a look at this if you are a day trader and you're looking at this and going This is not the time to buy because there is a we're on a descending pattern or sending wedge or whatever the TA people are Into it. That's fine. But that's not what I'm here for I take a look at I think to myself Is this Inexpensive right now is Bitcoin inexpensive is a theorem inexpensive is everything expensive or cheap as composed to now Compared to what it can be in two five or even ten years from now I gotta tell you I think when I look at these charts and I see what historically we've seen I think this is actually a pretty good time to accumulate now That's not financial advice. That's just where I'm going anyhow I don't you think about that in the comments section. Sure. That'll be good now. Let's go over talk about coin base and two new lawsuits so Sometimes when it rains of pores and coin base they've already been hit with Selling unregistered securities They've already gone through to the SEC and talked to Gary Gensler and said can we do a lending program? They're like no if you do it will sue the pants off you and now they got two new lawsuits But there's a twist and I'll get to that in a second. So this one here This is what's going on. So Two additional lawsuits on Thursday New York based legal firm Bragger Eagle and Squire revealed that it would be suing coin base for making deceptive claims about its business practices and then some Pomeran's LAP has also filed a claim against the exchange legend that it is entitled to compensate For any losses incurred as a result of the defendants violations of federal securities laws again Once the SEC gets involved and said you guys are selling a registered securities It kind of opens up the floodgate for other people outside for civil lawsuits In both complaints plaintiffs complain that coin base made fraudulent and dissent of representations regarding the company's business operations and compliance efforts between April 2021 and July 2022 According to the complaints coin base neglected to disclose that client crypto Was kept an escrow at coin base making a part of a bankruptcy estate subject To bankruptcy proceedings in which customers would be treated as general unsecured creditors of the company If you've been following everything with Celsius and Voyager, you know how damaging that can be So just let that sink in for a second, but there's a bright spot Furthermore, and this is just a throwaway coin base reportedly refused to disclose that it permitted us citizens to trade digital assets that despite In despite its knowledge and complacency required SEC regular registration as securities again debatable debatable if any of these are securities or not and this would lead me to my to another article Business wire and it goes back to that whole point about the disclosure and if The crypto that you have on coin base would be considered part of the community and they can use that And you won't don't get anything as far as viability in a bankruptcy This is an article on may 10th and it's in its quarterly report For the first career 2022 release at the markets closed coin base disclosed that Because custodially that's a word held crypto assets may be considered to be the property Of a bankruptcy estate in the event of a bankruptcy The crypto assets we hold in custody on behalf of our customers could be subject to Bankruptcy proceedings and such customs customers Could be treated as our general Unsecured creditors meaning whose possession is it not yours Find disclosure the price of coin bases class a stock fell 19 dollars per share or 26 percent to close at 53 dollars. Just so you know right now today The stock price for coin bases around almost 100 bucks. Think it's like 95 dollars. Check me in the comment section But that's probably because black rock and them are teaming up For custodial services for Their institutional investors with their 10 trillion assets under management. So the question then is why would black rock do that? If the crypto then is left Up to coin base and bankruptcy Hold on I'll tell you So following this In a sub so we can tweet commenting on the disclosure coin bases CEO brian armstrong stated We should have updated our retail terms sooner And we didn't communicate proactively when the risk disclosure was added my deepest apologies and a good learning moment for us As we make future changes. So that was in may 2022 About a couple months or so ago. So the question then is well If that's what's going on did they change anything? So I took a look at the user agreements I did a search for bankruptcy. There was nothing there. I took a search for The custody and property and ownership and this is what comes up and there's a link in the description so you can verify this ownership Title To support digital assets shall shall at all times remain with you and shall Not transfer to coin base All interest in digital assets we hold for digital asset wallets are held for customers Are not property of coin base and are not subject to claims Of coin bases creditors exact opposite of what the other part said as owner of the supported digital assets and digital asset wallet You shall bear all risk of loss of such supported digital assets None of the supported digital assets in your digital asset wallet are the property of or shell or may be loaned to coin base Coinbase does not represent or treat assets And users digital assets as belonging to coin base. So I don't know when they changed that but that's what it is and I couldn't find The one before that so if someone knows something other than what I just laid out, let me know but it seems like It's not a part of coin base anymore, but that will just to sum all this up. It doesn't even matter If you don't want to go through the whole rigmarole and go through that just go through the rules These are my rules not to be your rules, but this is what I try to live by And uh investments never invest more than you can afford to lose and just think to yourself It's all gone when you think yourself. It's all gone Then that means that when you're thinking yourself I'm going to put my entire life savings into dogecoin because it's going to go up by 10 20 30 percent and I can I can do this It'll make you stop and go that's stupid Don't do that the next one is everything's a scam everything's a scam treat Everything is a scam until proof otherwise you'll be a lot happier person You'll be a lot richer next one is nothing on exchanges Don't leave anything exchanges that she can possibly get away from like I still leave a little bit on exchanges It's true, but I try to shoot for zero percent That one is no leverage don't take leverage 25 500 x is kind of crazy And the last one is take profits along the way no one ever want broke taking profits So that's uh in a nutshell I think it's it's It's news that is nuanced and speaking of that What's going on the next piece Binance and was zero x is a little controversy and this one is really take your crypto off as soon as possible So here's what we got was zero x is exchange in india India's financial regulators raid the director of Binance own crypto exchange and freeze funds Over potential fraud and money laundering oops e so The exchange is accused of helping 16 fintech firms launder money through crypto transactions authorities froze I I think this has got to be billion, but 8.16 million of the exchange's funds according to Reuters Okay, 8.16 million, which I mean for for the average person is pretty big, but I don't know about that for an exchange Anyhow was zero x is India's largest crypto exchange was acquired by Binance in 2019 and that's actually debatable We'll get to that Screwing over was zero x comes amid a crackdown in India's fintech scene with ongoing investigations For predatory lending practices Regulars have identified 16 indian based fintech firms. They suspect of purchasing crypto assets To launder their money overseas And to clarify this This is what CZ Binance put out Whoops, let me go back And he says like this he goes look I want to make this very clear If you have funds on was zero x you should transfer it to Binance simple as that. I don't know if you can do that I don't know if if indian residents can transfer everything to Binance if that's even an option if you're able to do that like me like like i'm in texas right now I can't use ftx even though it's available with like everybody else in the states Just not texas But he says, uh, if you got a chance transfer him we any states we could disable was zero x wallets on a tech level But we can't won't do that And as much as debates we are enduring we can't won't hurt users And this is what it comes from. This is uh, nashal shardium nailed it He is the founder of was zero x india crowd fire. And this is what he states Was zero x was acquired by Binance The zombie labs in india entity owned by me and my co-founders Zombie labs have licensed from Binance to operate crypto pairs Binance operates crypto to crypto pairs processing crypto withdrawals and This is what cz says Binance provides wallet service while zero x domain is transferred to is transferred to our control We were given a shared access to an aws account We could shut down was your x but we can't because it hurts users Binance does not have control on operations including user signup k y c trading and initiating withdrawal cellular While zero x is founding teams control that this was never transferred despite our request the deal was never closed No shared transfers was your funding team maintain control of the operation of the platform We Binance were never given data or control of the users k y c We'd love to work with the regulators to fix these issues And that's pretty much it so that's an interesting twist to where I believed that was zero x was bought and totally controlled by Binance, but it looks like maybe that's not it so Another another step back for the old crypto as we get labeled as money launderers and Nonsense because of this going on But we'll see we'll see how it all plays out because who knows maybe this is just a misunderstanding Anyhow, that's all the bad news that's there Let's get to some good stuff, huh? So the good news There's always a little good news first parts polygon polygon Layer two solution for ethereum. I think it's gonna be pretty well do pretty well and this was just put out a couple hours ago uh polygon at disneyland and we'd already talked about this about how disney chose six different projects in their Accelerator program and they were the only blockchain one But it wasn't just that it was some other couple of them. So polygon is among six companies And here's the thread Polygon is the forefront of web 30 innovation while disney realizes it. This is what they're gonna do We'll see announced list of six companies 2020 batches focused on futuristic tech including web three Disney's accelerates. I didn't know what it was disney's accelerators a program to accelerate the growth of the top innovative companies Disney helps them with investment capital. That's nice to to grow gives them access to co-working spaces at disney's creative campus and It provides mentor guidance from top disney execs. Look, it's not what you know It's who you know and it's all about being able to scale and if you can get somebody I don't know as big as disney to kind of help you lead you by the hand to bring you into this A lot of different opportunities so much the better So then let's see the plan B for logano oaks polygon is adding crypto adoption in a swiss city I didn't know helping become europe's crypto capital Also payment providers like stripe which I use which by the way is ripping me off a hand over a fist 2.9 Percent plus 30 cents for each transaction. I pay thousands of dollars every month and For a stripe, uh, maybe they could help them out with that. I don't know Uh, this partnership. Oh Payment providers like stripe This was back in may and tech giants like meta and facebook and now with disney So you got meta facebook stripe and disney. They've all picked polygon So I know we're in a bear market, but it looks like they're laying down some pretty good track for the inevitable Bull run which I think is going to happen 18 to 24 months. So we'll see So that's one part of the good news and then the second part is voyager. So this is uh from their Da da da da Ah the court presentation materials for their second day presentation and it looked like this So if you haven't already heard a couple of good news out of that Chapter 11 first of all is this there are Instead of the handful They've got 88 potentially interested parties Contacted 46 parties executed non disclosure agreements And 20 parties active in the marketing process. So it looks like there's a lot of bidders on Intellectual property and the different assets that is in control of voyager right now. So may the best person win And then there was something interesting though. I will say this which was the ftx letter But but but but but which they pretty much rebuked and said look ftx came out with a very weak offer And people were saying well, it's going to be great. It's going to be great But as they can stay here customers Let me read the whole thing. I'll be there I'll let me the ftx's purchase voyages crypto assets and crypto loans at fair market value Which would move the crypto into its own account and move the cash value of such assets and loans On to ftx's platform for distribution to customers. That sounds pretty good they're going to take all the crypto assets that We're there and hopefully to make us whole but no it's not what's going to happen Customers can elect to open an account with ftx and receive their share of the cash in ftx account No customer will be made whole under their proposal nor will any crypto be returned to customers under the proposal so It just seems like maybe that was a little bit of a cash grab. So that's not so great, but this is There is some good stuff The concern was customers won't receive cash held on voyages platform Voyager filed a motion with the bank's record to release cash From the fbo account metropolitan commercial to its customers if approved voyager plans to release funds as quickly as possible And just so you know that was this August 11th is when you'll be able to withdraw your dollars From invest voyager. No, not usdc. That's just us dollars and then coming back here The voyager's advisors are engaged in active discussions over 20 potentially interested parties if approved The bidding procedures motion would provide a timeline for an auction And sale to a strategic third party And the invet that voyager in coordination with the committee pursues a sale transaction Let's hope they do maybe to work out And then there's the last two things which I thought was interesting because everybody was up in arms about The sip the other sip see and voyager should have commenced an sipc liquidation which was a big thing for I think it was a couple difference youtube videos which stated that That they should have done it that way so they could have been immediately liquidated and why didn't they do it? Well, it's because voyager is not a member of sipc membership and sipc requires approval from finra and finra Historically has declined to a provisional asset brokers like voyager Sipc denied voyager's applications in 2018 19 and 20 didn't know that there we go And the restructuring process will take years and they're saying no voyager's chapter 11 case will not take years subject to regulatory approvals voyager plans to embark from bankruptcy In q1 2023 which Is kind of like right around the corner And that is what is going on today in the news So I think it's positive, but we'll see how it all works out and maybe the timeline will work out So look That's it for today in the news If you want to stick around we'll do q and a i'll try to answer the best All the questions the best of my abilities and we'll go from there, but thanks so much for sticking around for the news I appreciate it. Let's jump into a little q and a and go from there man