 Great, welcome to Gillesa news. My name is Rob and there's a lot of things to go over and The reason why you're probably here is because the title in the thumbnail Let's be honest and there's some things going on behind the scenes and I think people People in power want you to sell. That's why I'm not selling So we're gonna do a quick market recap see what's going on with our market Then we'll talk about Citadel Fidelity and Charles Schwab are coming into crypto and we'll talk about some good stuff Regulations and stuff like that and also There's a concerning article where sec chair Gary Ginsler I think we all know him and senator Lummis agree on a particular point as to how many different cryptos are actually Securities and then we'll talk about more pain from Mike Novogratz and finally Cardano and their big partnership coming to fruition. So let's just jump into it and see exactly where we're at Well, let's talk about the market cap and if they how much correlation but before we do that I want to remind everybody about this little snippet here, which is I Need you to pay attention to The people that are here in the bull market and the people that are here in the bear market there's a lot of fair weather crypto people out there That's all we can really say and I know it's tough right now because you could throw your money Anything in the in the bull market and everybody's a genius during that time But it really takes a solid hand Especially in these times to really get ahead So just remember there are people here that are not your friends and are not looking out for your best interest Just something to be aware of fair weather friends. Also, here is the market today We're down and not surprising. I mean we're going Pretty much all over the place from top to bottom And we can see that Bitcoin's out a little bit theorem is down a little bit And this is what I talked about in the like video three or four days ago I said, I'm not gonna I'm gonna stop DCing for a while because I think we're gonna go down Especially when the CPI numbers come out and initially we did go up with some good news But it's all over the place and we're in kind of a range bound situation So I'm not gonna do anything remember those CPI numbers come out Friday 8 30 a.m. Pacific No, no eastern time, which would be 730 mountain 630 Our 730 central 630 mountain and 530 Pacific time and if they are shooting up as far as inflation expect our markets who also Take a little bit of a hip as does The traditional market and again, I talk about correlations and I believe that we are correlated and Looks like we are all in the same boat cryptos down 0.4 percent as far as market cap And s and p is down 0.9 almost a full point And the NASDAQ is down almost Yeah, that's a 0.7 or so. So just remember I think we're still correlated. We're gonna be like that for quite some time. Also There is something to consider and that is of course when I talk about when we get into the green take profits this was my Cash-out strategy and I've been talking about this for the last six months to a year or so And you can find videos on that there's a link in the description where I talk about my cash-out plan and I did a better job this this this run than I did in 2017, but I didn't cash out as much as I as much as I should have because I got greedy but There are some bright points and one of those of course I trust capital if you don't have a crypto IRA go check them out The other one is masterworks that is fractionalized share of artwork And just so you know if you're taking a look at it, there's a link in the description and they made me And all my subscribers a nice little landing page because people weren't understanding it what's going on So I take a look at this you can oh looks I want to call him the client When you come over here, you can skip the waitlist This again is investing into fractionalized share of art 1.7 trillion asset class I didn't know and I wanted you guys to know this is my portfolio This is what I've invested in I own a bank see and a basket. Do I own all of them? Completely no, I do not But this is something that I get into because of the reason for this Here's the track record For fine art 32 percent 31 percent 33 percent. That's a year of a year That's realized revenue after all the costs and things are like that So if you want to put your money into something this is what I'm doing and I have a link in the description I do a video. I show you exactly how it works. You don't buy the art. They buy the art it is Put up with the the sec because these are securities and then also just remember You can do all that stuff put in a gold s&p reeds equities But this is contemporary art and that is with inflation Factored in so again, there's a big difference between us and the super rich as they buy billion dollars worth of art And this was just a couple of weeks ago. So that's my little snippet That's my little snippet for Masterworks, let's get in the main story, which is citadel fidelity And charles schwaab are coming into crypto. So this was a When I when I see these types of articles, it just makes me realize that I think we're in the right place at the right time Yes, we're in a bear market right now But that doesn't mean that we're not going to see some pretty positivity as far as going on And I got to tell you I got to tell you these guys do things at the right time If you've ever seen Like during recessions and different and during during downplays, you know that PayPal was created during the 2008 Uh recession or when everything kind of collapsed also uber Also linked in and a couple other big names and they do that because there's not a lot of noise So when I see stuff like this, I'm like, okay I know I'm in the right place. So this is what we got The american market making firm founded by billionaire hedge fund manager ken griffin is building a crypto trading platform In collaboration with high frequency trading firm virtue financial Citadel securities is a sister coming to hedge fund giant citadel and before you get excited I'm going to tell you some bad news about this. It's also working with crypto venture capitalists from sequoia capital and paradigm The new crypto trading ecosystem will be designed to create more efficient access to crypto asset liquidity For institutional traders, which means that's what we want institutional traders And it's amazing to me that we have a bill coming forward by senator lumis And she's trying to give us some clarity And then this thing kind of is just happens to happen at the right time like oh Well, now the institutions and a lot more want to get into it, especially some big names Anyhow, if anything bear markets allow for more significant opportunities for profits, obviously you can get more Crypto at a much discounted price than you would in the bull market According to assorts the citadel consortium will be joined by additional wealth managers market makers and industry leaders expect to be part of the platform ahead of launch And it's also noted that deficient and inhibits wider No, that's not right Current crypto market structure is deficient and inhibits wider adoption from a lot of investors because we don't have I think the clarity And it's more of a crypto trading ecosystem or marketplace in exchange. It's going to be a great blah blah, okay So the whole thing with this is is when I first saw this i'm like, oh, that's pretty cool But when I had to dig deeper, there's another article here from bloomberg The same thing, but it talks about how on top of Virtue and on top of citadel It's uh with fidelity and charles schwaab and those are two big names So those are of course fidelity has been in for a while And you can do different things with crypto, but now they're going to get into the exchange and trading Platform could be available by end of the year or early next year and before you get too super excited I will just say this there is a great video Called the problem with john stewart and I linked it in the description and what he talks about Is how dangerous citadel actually is for this thing called pay for order flow And if you haven't pay heard about pay for order flow, it really is a devious little way of course Capitalism will say no, it's totally uh, legit and it I mean it is legal I suppose but it's what robin hunt uses and it's what's a lot of different Pools will use to actually get the best price and to kind of price not price you out But to kind of skim some profits at the top And uh, if you watch the video, it's about 16 minutes long. You'll understand why Anything that citadel kind of gets into is quite concerning and also just so you know, you know who created pay for order flow Bernie made off Bernie made off created the structure of pay for order flow, which is what citadel is doing Which is what I think they're going to do over here. So even though this is good news Take a look of the story behind the story So let me know what you think about that in the comment section I will say like I said in the beginning these guys have like the best timing Don't they the best timing and if we Take a look at my favorite topic the four-year cycles. Don't groan hear me out Four-year cycles. I think are still in play. I know it didn't seem at first like it worked out But tell me where I'm wrong here Four-year cycles always start with bitcoin having which happened in 2012 the first bitcoin having then you reach an all-time high in 2013 2014 you get a dip then you get a reset that was in 2015 then it happened again 2016 we are having all time high in 2017 and we had a dip And then a little bit reset in 2019 then we did this again in 2020 We was a having where we hit $29,000 then 2021 we had an all-time high and I thought that we would extend it And even bent over and met into the crypto versus. I think there's uh Extended cycles and now he says it's invalidated But it actually did work out the all-time high was 67,000. I know people will say well, there's macroeconomic factors, but sure I get it, but it's still in play There is still a bear market and a dip in 2022 I think it's going to be a reset or an accumulation in 2023 And then of course, what does that mean in 2024 the having this is just a guess don't hold me to it Then in 2025 what happens after every having an all-time high and a dip and a reset So if you think you're in the wrong time frame, you're not I envy you if you're here right now I think this is the best time. There's two times to To invest in my personal opinion everything's boring and moving sideways and just dull as hell like what we're doing right now and then of course Uh, this is the time to buy the second best time is during the big run up, but that's up for you To decide so let me know what you think about that In the comment section. I still think it's in play. I That's what I say, and let's move on to our next piece This one's a weird sec chair gary ginsler fan of the show and senator lumis Agree on something and I got to tell you when I read this might as cannot be good. Here's what we got Crypto booster senator lumis, which did you just put out that's a lobby which or the bill that is probably will not be passed Watch the video from yesterday Says she agrees with sdc chair ginsler that most digital assets are securities grown Here's what we have gary ginsler is Is everybody's famous or favorite person in the crypto community Uh argues that the vast majority digital asset or digital tokens are securities and that their issuers are violating the law By not registering with the agency debatable, but here's what we got uh lumis Senator from great state of Wyoming says I agree On this point and lumis emphasized. However, that bitcoin and ethereum Are obviously commodities that should be regulated by the cftc in america. We have organization called commodity futures trading commission And they only deal with the commodities sec deals with securities The occ only deals with currencies offers the control of the currency So she says bitcoin ether pass commodities Everything else sounds like not too good. She added that because there are possibly as many as 19 000 individual cryptos And that it's likely that most are securities now. Well, let me just preface it with this We went over the bill yesterday me and dj From by the diff sell the tip And one of the things is is that they were talking about how different cryptos might get a pass one of those Solana and cardano and things like that Because nothing's set in stone. So when they talk about this, I think people see this and then go damn it The crypt that i'm invested into they're going to label it a security. I know it because it's it's here right there Just calm down You gotta get all the information before you do anything and that bill is very vague now They're trying to update the howie test which was created 1930s 1933 to actually determine. What is a security? Uh, which I don't know how that would actually work for digital assets. It just doesn't So when we see this don't flip out and go. Oh, this is now They're saying that everything besides bitcoin ethereum is a security That's what they're saying. They're saying bitcoin ethereum are definitely commodities Everything else outside of that There's a good chance that they are a security but not saying it. Look, there's 19 000 plus cryptos out there Correct me in the comment section. It's a ton So to say that the top 100 are all securities. That's not what they're saying They're just saying this is what it is But it is interesting that they do agree on this point in general to say that Anyhow to finish this up. Gensler has in the past argued that bitcoin is a commodity As a private citizen he argued that the issues of ether violated securities laws when they issued 18 million an ether token to the public in 2014 though So he's saying that hey ether actually is a security And cfdc chairman rostin benham also spoke saying that probably hundreds of cryptos Are in fact that securities and should be registered with the sec So there's two things I need to make mention of here First of all is this If I think This is just a theory Maybe ethereum is playing like four and five d chess Because they've kept those gas prices so ridiculously high That the only reason I buy ethereum these days. Well, that's not the only reason but a lot of reasons I advise because I need to pay for the gas and that means it's a utility and it's not a security So maybe they're just holding off on these murders all this time going Let's wait till we get some clarity and then we'll go from there Just a thought second thing is What would happen if all the cryptos become a security? Bitcoin is a commodity and everything else is security But does that mean they all go away and they disappear and that's it. There are securities. We can't have them They're secure because No, you buy securities all day long. Do you know what they are go to robin hood. They're all securities stocks equities They're all have to register with the sec So just because it becomes a security doesn't mean like the sky is falling chicken little it's going to be all right Just that's going to be a big pain in the a for the exchanges to register all those things And yes, there may be some fines and so on and so forth, but it allows to get to the next step And yeah, that's what those are my thoughts. Let me know yours in the comment section and Let's talk about Mike Novogratz. I have no problem Mike. I know he got burned on the luna thing I know some people hate him, especially cardano cardano community hates this guy But uh, look, he's just a guy that uh, you know Did his did his research and didn't work out and this I just want to Make this quick galaxies Mike Novogratz says two-thirds of hedge funds will fail. Why is this important? It's because of this Two-thirds of the head funds that invest in cryptos will fail as a consequence of the current market downturn Volume will go down Hedge funds will have to restructure what he means by restructure sell so at some point They don't want to lose their a so they're like, you know what let's start selling like crazy as things going And it's just a slippery slope once you start to see that uh one Specific sector starts to sell off or one different type of crypto and all of a sudden they just start to cast gate effect It's the same thing as far as getting getting liquidated for leverage plays Almost same thing here. So I don't see A positive about that you can look at it either one or two ways Either your portfolio is going to go down and of course you can sell that's up to you I'm not a financial advisor. Not your dad. Do whatever you want So for me, I just look at this as going, okay, I'm in the right place the right time There's some big people coming in we're going to see some short-term pain But it's going to be a long-term gain in the long run Play that out however you want to do it for me. It's just bonus because there's a lot of It's a lot of discounts anyhow. That's what we have and then let's finish up Cardano And a pretty big partnership I gotta tell you I've given cardano a lot of flak over the years I've talked about them but in all honesty They are one of the adults in the room I know people some are screaming at the at the screen right now or some are clapping But it takes a lot of time and this was an announcement just like over a year I think well over a year where they were talking about partnering up with dish And digital ids and things like that and nobody have heard about it Of course, this is the problem with in crypto because one everything now now now now it doesn't work like that It takes time. First of all, who the hell's dish? Who are they? dish wireless America's first smart network you might know them for cable or for internet service But they say like this we launch satellites into space to bring tv to those without it We've been to the dvr to give people entertainment on their terms Now we're building america's first smart network to redefine the way people and things connect And they just talk about the things they're doing here. I'll link in the description Here's their partners. Yeah, pretty big people, right? And I'll believe they also have under their umbrella boost mobile. So What they're doing here This was a blog post from iohk The objective of this collaboration has created a robust and fully digital and decentralized identification loyalty framework built first on cardinal blockchain. So so there's no ambiguity It's on cardinal during 2021 cardinal summits iog's Charles Hoskins announced that both companies would cooperate to create novel blockchain solutions to drive adoption Of decentralized tech that sounds good. This is what it's going to be There's some kind of thing called a boost coin they're going to use and they're it's going to be underpinned by Are used by cardinal And they'll offer these capabilities Loyalty ledger database that tracks boost coins and shows how many loyalty tokens need to be minted burned So the token balance matches Okay, api to mint and control tokens on the cardinal main net cardinal main net where loyalty tokens are minted and burned According to data provided and dish organizational wall that holds all boost coins Sorry about that So that's what we have as far as that piece and To me it's a step in the right direction and these things that we talk about I'm glad they actually are moving the right even though it takes a little bit of time And also don't forget we did a video May 31st and we talked about The hard fork that's coming up a vassal hard fork Which is expected to improve the networks throughput and efficiency TPS transactions per second. Some people are saying that's an issue also an issue is concurrency Which what we saw with sunday swap that's supposed to be Uh remedied and we'll see how it goes the the test net is already going Is already going along they're checking to see what happens and the main net launches later for june 29th So again, you might see a little bit of a price action for a cardinal I think it's it's good. We'll see how it goes now. Remember just because something happens like right now This great upgrade doesn't mean the price just keeps going like this Just remember what happened with cardinal and smart contracts. That's all i'm going to say And that's it, but I still hold my cardinal. Just so everybody is clear. So that's what we have and then lastly Uh, well next to last excuse me. There was a great um thread on twitter From kdev He talks about cardinal and I think it's interesting just to note that he's not screaming everybody's faces Telling how stupid they are if they don't invest or or that uh, he'll have fun staying poor. He just says hey He or she I don't know says here's the basics. Here's what cardinal has proof of staking non custodial staking Proof of stake allows for greater decentralization. Okay, sure debatable I think uh, bitcoin is still pretty decentralized by whatever thousands of stake pools a few pools and operators. There's a There's a pin there And then of course, there's the different wallets nami eternal flint. Here's the dex's Min swap wing riders sunday swap around maldex. Here's the nft's marketplace that they have And some popular projects that are being built or daps On the cardinal network and here's the community. So like I just thought it was interesting just to point it out that hey Just so you know It's not a ghost chain things are happening and that was it So let me know what you think about that in the comment section and then lastly Uh, just real quick. This is about uh sweat coin So I put this out yesterday And and if you're you know what let me do this if you're following me right now on sweat coin I think you're crushing me actually So there's a there's an app that uh, we've been talking about sweat coin is going to go over to cryptocurrency They have a free app right now. You just download a phone you walk you give you you give you sweat tokens It's super simple. It's free to use all that great stuff But I put a a challenge out there. I said if you can beat me in steps The top three people if they beat me you won't but if you do Uh, there's one of three things you can win you can come on the show I'll do a live portfolio review or give you 50 sweat tokens. Whatever you want. I don't really care. It's up to you but uh because i'm not gonna lose but I will show you real quick How i'm how everybody's doing As far as if i'm winning or losing and guess what guess what? I'm losing pretty bad Uh, let's see here. So today as far as like steps. I only got 6 000 steps. Sweet Mary Joseph And then this week there's cryptic artistic. He's crushing it Michael Patterson this week Hey, I have 32 i'm in 15th place. I will still win and then for this month 80 000 and just so you know like uh, you can do First of all, you can go shopping if you want to go shopping Spend all your tokens and things like that over here all you gotta do is just walk. It's pretty simple and then, uh Of course, they have challenges and I like I said in here like I If you're in america, they're gonna hold off on this this airdrop or token generation event And I said well if you're in america and you want to do some good You can donate those sweat tokens and actually do set up like this and then what I did was I donated uh like a thousand of them To where did it go? Adoption centers for For lost or homeless dogs. So it's up to you what you want to do, but I thought it was a pretty cool It's a pretty cool app and I'll do a deep dive on it later. And that's what's going on. All right So everybody thanks for stopping by Try to get out of here as fast as possible never works But again, thanks for stopping by this concludes the part of the news If you want to stick around for the q&a you can ask me any question you want try to answer the best of my abilities And we'll go from there if not you got to get out of here time is precious get out Have fun. Have a great day. Thanks so much. Like and subscribe all that great stuff now. Let's get into q&a and go from there