 Voyager, boy that I love that platform and you know that I talked about it many a time on this channel and Now it looks like we're coming to the final resolution As it looks like Voyager is gonna be picked up by Binance US and this is good news And it's it's a long time coming and we just had to be patient and here we are This is what we got. This just happened yesterday. This was an article was updated last night Binance the US can move ahead with plan to acquire Voyager digital assets judge rules and I got to tell you before we get going I got to give a hand to judge Wiley. This is the this is the judge and we're gonna talk about this in the article But he set up the SEC council and said basically, what are you doing here? Why trying to disrupt this? I'm gonna move this this forward if you didn't give guidance that's on you Grab some bench you guys are rookies So I give all the props of the world to judge Wiley And it just shows you that one person can truly make a difference. So here's what we got for the article itself So Voyager in a deal with over a billion dollars Is gonna be going through and again Michael Wiles. He is the judge overruled various objections the proposed acquisition The judge said he would still work through the confirmation order. He indicated he was in favor of approving the deal But Binance us may still have to clear certain regulatory hurdles before the deal can be finalized But it's looking quite positive Good news for creditors. Voyager lawyers are saying the creditors could potentially make a 73% recovery. It's up from 51% However, people like myself Regulars from Texas, New Jersey who live there have warned those benefits could be significantly dampened if FTX is Alameda research succeeds in clawing back 445 million loan repayments made before its own bankruptcy filing in November So there's always a catch, but we'll see if they can actually do it But all you got to do is just stay positive good things will happen So topics such as whether personal data will be hand over to Binance US was a problem That's the regulators and the lawyer saw creditors quiz voyagers financial advisors how to treat Exotic kinds of crypto assets how to deal with customers in states such as New York, Texas, Vermont and Hawaii or regulators don't let Binance US operate and This is from what I read this what they're gonna say if you live in those states They're gonna give Binance US so much time to get a money transmitter license If they cannot get it at that time and you are staying in that state then what it's gonna be is you're not gonna get That crypto you're gonna get the dollar amount for that crypto now How that's going to work remains a mystery to me, but I'll update you as soon as I know So then to finish up this article Other obstacles to deal mainly placed by worry regulators Wary regulators appear to have fallen away judge Wallace took a dim view of objections from the SEC The hearing which began on Thursday gave various parties and regulators a chance to object the proposed sale The judge ruled these objections did not make a strong argument or they would not have would have unnecessarily bogged down proceedings This is what I was talking about Congratulations to one person who stood up to the SEC he says look if the government wants to litigate that Talking about how the SEC thought the VGX token was a security They can do so, but he said look the regulators did not choose to do that nor do they give any clear-cut guidance so I'm just going to let this pass and That's essentially what happened and that's what the deal is going forward Concerns raised by parties including the possibility of voyagers customer data including social security would be shared with Binance US and Maybe stored an offshore database an attorney representing Binance said Employees would not have access to this type of information or said no Binance US employee would have access type for insurance So look, this is a win. I'll take it as a win Unfortunately, these are the growing pains that we go through so I'm glad this actually happened Let me know what you think about that in the comment section and there's some more good news As far as legal matters now if you're unaware Grayscale Bitcoin trust they wanted to do a spot ETF and the SEC said no Because you guys got to prove there's no market manipulation and I thought to myself In these markets, there's no market manipulation. Okay SEC sure Just look at your banks anyhow It looks like Grayscale is winning this argument. So this is what's going on in the court case thus far So an element of the SEC's argument is that Grayscale's application lack data Necessary to confidentially determine whether fraud and manipulation the spot markets Impacts the future markets Judge Rao said it seems the futures price Of bitcoin is a derivative of the asset spot price And they moved together 99.9 percent of the time She said the SEC has not provided evidence That grayscale's claims are wrong And that is a positive because if they can say that you guys haven't brought enough information means they can overrule this And I'm surprised surprised grayscale is on the path. They're getting approved for a spot bitcoin ETF Which I thought would never happen To continue on says it seems like there's quite a bit of information on how these markets work together And the commission really needs to explain And how it understands the relationship between bitcoin futures and the spot price of bitcoin The SEC's denial of grayscale's application To convert grayscale bitcoin into a spot marked bitcoin ETF contradicted previous decisions Given the green light for futures again America has green lit the futures ETF like it's no problem. But for some reason that spot ETF just doesn't go through He described the SEC's denial as a definition of arbitrary decision making This is the lawyer from grayscale arguing that grayscale spot ETF would pose the same risk of fraud And manipulation that currently approved bitcoin products that trade on the CME. So I like these two stories this is again The legal issues that are presented to ourselves in this market I think it's a step in the right direction as we Push back the SEC and then lastly to look at the macro events We know the great that's uh drone Powell just spoke yesterday And this was a piece that I didn't hear too much about But I found it interesting that drone Powell who was talking to Uh legislators said hey, we we should not stifle innovation especially crypto. Here's what he said. He goes look We see fraud We see lack of transparency We see run risk lots and lots of things like that in the crypto and digital asset market As he was talking Tuesday before the senate committing a banking Uh, the fed told regulated us financial institutions to be wary and to take great care in the ways that they engage With the whole crypto space meaning they're warning everybody like hey, if you're gonna do this just be careful I see no problems with that. That's actually sound advice. Why honestly? Powell said that regulators shouldn't go so far as to hamper technological advancement and that congress should create a legal framework for digital assets We don't want regulation to stifle innovation In a way that just favors incumbents and that kind of thing Hopefully gary ginsler is watching the show again And he listens to that and here's that from The head of the sc or the head of the fed chair On tuesday Powell said the stable coins could find a place in the financial service sector if properly regulated People are going to assume when they deal with something that looks like a money market fund That it has the same regulations a money market fund or a bank deposit. I couldn't agree more So again three positives Looking forward for what's happening in the macro and illegal space But because of Jerome's Talk yesterday Apparently it's from ben over in his twitter's twitter Account says look odds of a 50 basis points rate hike in march Are now at 72 percent. It's amazing when Jerome Powell was talking everybody's like Hey, it's just it's not gonna be that big of a deal But now all of a sudden these new numbers come out and it used it was like 32.6 percent That people thought it'd be a 50 basis point hike and like 66 something percent was 25. Well, now that's flips Now everybody's expecting this so it's amazing what one man can do in that space I'm interested in thinking about that in the comments Now let's get into a little bit more of the recession talk because I gotta tell you i'm not I think that there's a recession coming But there are some data points that just don't add up and what i'm talking about this is a great article from bloomberg They talked about how global liquidity drain is coming from markets And they talk about how there was a 1 trillion rise in central bank reserves boosted by risky assets And the european central bank the bank of japan and the people's bank of china Injections are done. So what they're saying here is that it's just not the fed that prints money It's just america. We just print a lot of it and we're good at it But it's also these other central banks that within the last six to nine months Have injected 1 trillion into the market and we have to be respectful Of just how much money that actually is and that's what they're saying is propping up some of the market So there's some city strategist matt king. He says an report published sunday Interventions in recent months undertaken by the bank of japan people's bank of china Added almost a trillion in central bank reserves the origins of this year's risk rally Lion obscure technicals driving central bank liquidity At this point, we think most of the boost reserves is done. This implies that the story for the rest of the year Should return to being one of liquidity drainage and risk weakness because I was always wondering like why is there such a Nice little rally going on people would say well, it's just a bear. It's just a bear rally But maybe it has to do with something with these central banks globally Injecting a trillion dollars and causing liquidity and we take a look here the central bank balance sheet stabilize And we're taking a look. This is in billions. So this is 23 26 trillion dollars As we go to the far right side of 2022 in january You can see how it kind of just kind of ticks up and there's an even more liquidity coming in towards the end of 2021 and in the 2022 And then down here a little bit and then it's a little bit of a pickup right in this way Going into the end or december now. We take a look at the bitcoin price of 2022 Actually in 2022 and 23 you can see how it's pretty flat And then just like how there was a little bit of a of a tip up tick which isn't much I mean a trillion considering that we have 23 trillion there But it is enough to do just a little bit in january Which is what happened and off of the races we were now is it gonna last while this article seems to think that it doesn't but If it's not just liquidity Maybe it's some macro factors and if you're worried about the recession We've talked to death yesterday about the inversions of treasury yields the 10 and twos But there's two things that we didn't talk about and that was new housing prices and vehicles The things that will lead you in and take you out of these recessions Are some pretty big driving factors as far as like the houses because think about this as far as construction The houses that are built the people that are employed the agents the construction companies The the banks and everybody that's involved with these different houses for sale It's a large part of the economy also the same thing with vehicles But if we take a look here again ben's website links in the description you can check it out You can see here that If we're looking at houses for sale. Well, first of all what this is is that it's a ratio If the example is if the ratio is eight like we have someplace over here if the ratio is eight Then that means for each new house sold there are eight new houses for sale And if we can take a look here, you can see that just looking at like the baseline just eyeballing it You can see that it looks like the baseline's around four Roughly four you got four here four here four here in in the trough what we got over here five four 4.8 You got 4.7 over here Roughly around four so for every house sold you got four new houses And what's interesting is that if we take a look at the last economic crisis the great recession And uh 2007 eight and nine you can see that we had a massive amount of houses and actually down here You had about 7.8, which is pretty like on the lower point and then it peaked out at around 12 or so 12.2 So for every house being sold you had a boatload of houses that were just sitting around Uh that were not being sold. You had 12 houses now It could have you you can't absorb that much Unless you have like a super strong economy at that point We did not and then it just went right back down to 7.9 7.8 And it came back up and then it kind of came down to that baseline Of around four if i'm taking a look here at where we're at right now I mean we peaked out in july 2022 at 10 Which is not the all-time high which you saw over here around 12 And right now as of the latest numbers of uh end of the first of january We're again back down to seven seven point nine So this narrative about a recession coming it could very well be But right now it doesn't look like There's a an oversupply of houses right now I think things are slowing down I think the builders kind of figured it out like look these rates are going up I think it's around seven percent for a mortgage rate right now And if that's too high then people aren't going to want to buy houses on the flip side People aren't going to want to sell their houses because why would I sell my house If I then have to get a new house and pay for an exorbitant amount in mortgage rates So I don't see why people would do that. I think it's just going to drop off at a slower rate And that's just the housing part. So honestly It's not looking too horrible so far and then vehicle sales and this is in millions You can see that we're around uh 11 million in 2010 Come back over here 12 million and so on and so forth then of course in the uh Pandemic we only had around oh look at that only only almost nine million again. We're not exorbitantly high We're not super far up there. We're at 15 or so million which is a little bit high to say but not awful So again, when we take a look at these things and say well the recession is definitely upon us I don't know. I'm not for sure. I will say this. I don't have a crystal ball. I don't know where things are going but There was some pretty good Piece of information that I gleamed from yesterday's uh comments. This is from uh, well, there's two One was uh, david's kid said no to retail club. Actually, I said simon dixon shouted simon dixon for the celsius plan putting together and uh jackal said this he said look I've been working a second job since october preparing for a recession trying to double up on my house payment and paying off my car My goal is to stay solvent in my bitcoin dca and trying to use all my dry powder when and if We get a significant dip stay humble stack sats and stay solvent friends and uh I couldn't say it better than myself. So look that's it for today's video And uh, I know it's a bit long, you know going over the different pieces But I think there's some really good things to gleam from this as far as like the legal and the macro As far as are we going to see a recession? Anybody's guess that's why dollar cost average and just think to myself. Well, I got a two to five year horizon I think things will be okay. So that's it for today. So first of all, thanks so much for stopping by appreciate it Like it subscribe and I'll see you guys on the next one