 Hello, everybody. Welcome to the Tuesday live stream. So we got a lot of things to cover. So let's just jump right in So just like the thumbnail and the title suggested Gary Gensler in the SEC just took a major loss and it's rightfully so because essentially they lied to the courts and the American public And we're gonna go into that and this is why I think This is the last time that Gary is going to be in charge of the SEC I think he's actually to be asked to step down. Maybe not today. Maybe not tomorrow, but soon And we'll take a look at that before we do that. Let's just take a look at what's going on the market now If you haven't checked your portfolio. Good job. Don't because you're not gonna like it Depends if you're DCA maybe like myself, you might be like, hey, it's a pretty good day And we've seen that over the last seven days pretty That's pretty normal actually for this market I mean it went from nice nice high of 73,580 on March 14th To a nice well low within seven days to 62,000 and it's amazing Like what can be done in five days? Very interesting and of course, this is not like a major pullback Wait till we start to get 20 percent 30 percent pullbacks and then come talk to me Now if you're new to crypto welcome, you picked a perfect time to come in When things are doing quite well and we have these pullbacks and some might call it a dump Some might call it a correction wherever you want to call it. This is where we're at And it's not just Bitcoin, of course now when Bitcoin goes down Just because Bitcoin sneezes the altcoins get a cold and you can see that Ethereum I'll be a reason to do in combat Solana down seven half percent Avalanche turn half not too bad actually Cardano 4.8 5 7 6 2 5 been the across the board Really if you look at it's not too awful. Although for the week we look at the seven-day mark I mean 7% for Bitcoin 15% for Ethereum 25% up for Solana. Let's see Nothing bad. The only it's that that's really annoys me is that stacks, which is what I wanted to buy more of keeps going up So if you're looking for L2 solutions on Bitcoin, that'd be your play But yeah, a little bit of a green day and of course in the last hour or so where you see like the little green marks Of course, yes People are gonna buy the dip and they're going to say hey I you know, I I bought this dip and everything's great But just wait because I think there's more dips to come but I could be wrong I personally just have everything going off in the background There's these DCA buys it just happens So if it if it goes lower great if it doesn't whatever I mean over the long haul I'm feeling pretty good about this. So that's what's going on the market But also as a reminder because people start to think oh man, we're getting in this bearishness Not so fast. This is just a piece that came out by CNBC The world's largest pension fund explores Bitcoin as an investment So Japan has their own pension fund is the largest in the world This pension fund on Tuesday said it is requesting information on illiquidity assets such as Bitcoin as part of research into potential new investments Now look, I'm not a channel to blow smoke. This is just one pension fund It's very large. It has like 1.5 trillion assets under management two things Does that mean that all 1.5 assets are going to flow into Bitcoin? No, that's not how it works Does this mean that it's going to happen tomorrow? No, obviously not They're just asking for information. What's interesting that they're actually getting on the precipice and what actually causes Number go up. It says right here The statement comes days after Bitcoin hit an all-time high and after the world's largest crypto is rallying more than 130% over the last year So I know when people say but that's smart money and smart money trust me I met a lot of people a lot of people in the business a lot of stratified people It's not smart money really. It's just people who know people and they kind of manipulate things the background trust me You're much smarter than most the people that I've known in in in this sector So let me just think about that in the comment section and also as a quick reminder Inflows and outflows. This is from Bitmex. We can see that yesterday 18th of March the inflows from BlackRock was 451 million dollars pretty great, but look at the outflows From grayscale 642 and it's like they're in a back-and-forth. Look at this on Friday 139 million inflows from BlackRock and 139 million outflows from grayscale and it keeps going back and forth But the eye on the prize is two things first of all just remember that we're still up 12 billion dollars in inflow and The initial price of around 11 12th or 15th of January Which is when we had a pretty reasonable amount of people even 16th and 17th. There was a quite a bit is The price of Bitcoin was roughly around 43,000 to 45,000 if we don't start to hit that I think people are relatively stable. Those will be the people who are in Treadfy and the different People that BlackRock and Fidelity and everybody else has talked to you to bring in If we start to hit those numbers of like 45k and I'm not saying it is 45k, 40k, 39, 38k then the traditional finance folks that got an ETF are gonna be like, hey You said this was gonna go up. You said it was volatile, but come on. I'm not used to this I'm used to gold going up 1.2% in a year. I can't take this amount So I'm not saying it's gonna happen. We're saying usually that's what could potentially happen anyhow Let me just think about that. Now. Let's talk about my favorite subject I like I like what Edward Fox said in the comments. He said he goes. No, don't pick on Gary. Okay, maybe a little yeah He deserves it. That's true. So This just happened this morning The SEC is sanctioned for misconduct in the debt box crypto case What is that case? Well, we actually covered this a couple of months ago I think it was and I didn't really think too much of it. I'm like, oh the SEC got busted and you know slapping the rest No big deal, but it's going to be big. Here's what we got judge Robert J. Shelby found the SEC initially intentionally Misled the court about evidence that used to obtain a temporary restraining order and freeze of debt boxes asset last August so look, I'm not a lawyer. I Don't not even gonna pretend to say this but there's a huge difference I believe in misleading somebody misleading a judge in a court case as Opposed to getting the information just a little bit crooked because whatever the basis was was incorrect There is a massive difference and that is going to be called out not just here Not just in the sanctions that are come against the SEC, but it's going to become a big issue in Congress and we'll get to that in a second So the SEC had claimed that this is the whole story the SEC claimed that debt box perpetrated a 50 million fraudulent crypto scheme and across in the TRO and asset freeze The SEC and that the TRO is the temporary restraining order the SEC claimed that debt box had already sent $720,000 overseas and would flee to the UAV the United Arab Emirates and Secretly transfer more assets if it was not notified of the order basically saying like look They're taking all of these US taxpayers money and That's who we're here to protect and We need you to shut it down because if we don't shut it down They're gonna take more money and the judge said yes, and I agree with you. However Shelby judge Shelby later reviewed his initial order and conclude the SEC had misrepresented the evidence The 720,000 transfer was actually sent Within the United States meaning it went from one account in the US to another account in the United States So it didn't go to the UAV that's not great and to get a Perception of how big this is There was a piece from MetaLawman I Linked his account in the description Vanderbilt law guided other worlds crypto metaverse web 3 Not legal or financial advice. I'm a lawyer. Just not your lawyer and he says look The opinion is devastating to the SEC as an institution and the particular lawyers who committed the misconduct The judgment at crystal clear the SEC lawyer did not make an error. They lied intentionally That has huge ramifications. That's not how it's supposed to be We all pay taxes We give this to the government not because we like to but because we're forced to Those tax dollars go to these three letter agencies. They are here to protect us, but they are not They're doing the exact opposite. They're doing enforcement through regulation or regulation through enforcement and it's Gets even worse when they lie intentionally on these court cases and they screw over some Business that's just trying to operate in the United States, which is the same thing that they're not the exact same thing One of the same things that's happening with the centralized exchanges. I'm not that they're perfect. Come on The critical evidence the Commission offered to obtain and defend the X-part TRO lacked any basis in fact yet the Commission nonetheless advanced that evidence in deliberately false Misleading ways the SEC engaged in a gross abuse of the power entrusted to it by Congress the judges or the SEC to pay the attorney's fees Of the defendants in the case. That's not too bad The judge found the SEC engaged in a gross abuse of power entrusted to by Congress will Congress do anything about this? I believe they will and if you're interested in reading this 80-page report. I linked in the description have fun But now we're gonna take a look at opinions across the board. This is Paul Rule he's a chief legal officer of Coinbase. He pretty much echoes the same sentiment of meta law man But he says it down here, which was written out perfectly the worst part of all guess who pays the sanctions It's us You me and every US taxpayer the Commission just foisted a bill Onto every one of us for their litigation misconduct. So we pay the I'm not gonna get into it It is quite frustrating. It's crazy and that's pretty much where we're at So don't forget to pay your taxes and then also I said it was an interesting piece This is from Orlando BTC crypto and startup lawyer found a voce advisory corporate regulatory counsel He says rare to see federal judges admonish parties like this in a case It's that much more rare almost never happens when the party is a federal government agency. I Don't I must be honest with you. I don't follow federal court cases quite closely. I just don't but I've never Heard of sanctions against government agencies in the US When they are suing private companies I could be wrong. Correct me in the comment section Orlando says but nothing surprising me about the sec and our chair again slurs tenure, which leads me to my last point This is from Patrick McHenry He is a congressman from North Carolina And he says chair gowns enforcement teams Agreed just misconduct will have broad implications on sec authority beyond his crypto crusade Gensler requested more funding for enforcement last year now a judge calls out the sec's Abusive and the sets of legal practices. This must end there will be repercussions Okay, the root the root there will be repercussions was actually me. I just that's not what Patrick said But he said this must end. I think they're gonna actually have to bring this to a votes And have a discovery period and within congress And also as a reminder We have a presidential election coming up I think gary is kind of a liability right now at this point And of course we can take a look at data different data different statistics about how many people actually in the united states Actually own crypto how many people actually traded it's quite a bit and it's actually becoming one of a Of a major issue around these different candidates You have no farther to look than in massachusetts and john deaton versus pocahontas or excuse me. Elizabeth Warren and That's actually a case or a An opportunity for a seat to be placed but as a reminder who appointed gary gensler who Well as president joe biden nothing against joe biden I know some people love joe biden some people hate joe biden some people don't care about him But joe biden am i nominated gensler to serve as 33rd chair of the u.s security and change commission He's the seat ecstasy acting chair ellison lee so If there is a movement in the president And who is sitting in office? I do not believe it will be gary gensler And again, I do believe he's a liability, but I could be wrong Any element you think about that in the comment section and then also let's talk about some good news as far as alts I don't know if you knew this but uh akash, which is a D pin ai play which i've been investing in over on crypto.com because I couldn't get it on coinbase akash will be uh listed actually today and it was actually listed two hours ago 12 p.m. Eastern time if if liquidity conditions are met. Oh, they were met And if you're curious about akash World's premier decentralized compute marketplace. It's an open network Let's use just buy and sell computing resources securely and efficiently Purpose bill for public utility And of course this is really good for ai because it uses computational resources and they need a lot of those gpu's to actually run and Keep the network up not just to keep the network up But to actually Foster an increase in the amount of artificial intelligence that will eventually destroy the world. That's just me saying So the question was how well did it do did great? So I know people will say ah the coinbase effect isn't really that much This is the last 24 hours and yes akash has done pretty well the last time but again the time frame It started at 12 Eastern standard time. This is atlantic standard time. This is my time zone here in potorico But right now we're on the same time frame. So at 11 50 It was at five dollars 33 cents And then at 12 o'clock 5 35 and then we just took a big jump to six bucks So I know people will say ah, there's there's no coinbase effect. It's a little bit. I think that's what it is And I think akash is going to do quite well. I could be wrong, but let me know what your favorite ai plays in there But lastly lastly and then we'll do the q&a is as a reminder There's two deadlines coming up and I think this is kind of funny that I talked about Gary ginsler and we have to pay off his debt for his screw up So we can pay taxes so they can tax the tar out of us Ah But that's how it is unfortunately. So this is where we live I don't want you to be in trouble But I want you to minimize your taxes as best as possible. I want you to make it as easy as you can Without having your head explode in that case. There's two things first of all taxes Then there's a Roth IRA deadline if you're into Roth IRAs like myself You have until april 15th to contribute to 2023 time frame. Why is this important? I'll tell you in a second. So first of all, I use coin ledger We all know that there's a link in the description for a coin ledger get some Percentage off, but they just had a partnership with metamask yesterday actually today So what that means is that when you're going through the process of adding in all your different wallets with metamask It doesn't matter if you have metamask ethereum. You have metamask Bnb if you have metamask A polygon or any kind of layer two solution It will import easily and quickly because there is a partnership together With coin ledger and again when I've done this I've used them This will be my third straight year from the time that I start up the the program To get everything in for my different wallets and then ship it off to my cpa takes me 30 minutes I cannot stress enough how much I do not like to have Time wasted and that's one of them. So take a look at that And also if you're into Roth IRAs, I know people love the bitcoin ETF I think if their ETF is coming I personally I'm from what the stats say it's looking pretty That's less than 50% I just want to remind people that yeah, it's great that you can do a bitcoin ETF and you can put in your IRA But just remember that if you're doing this, you know, there's management fees For these ETFs you got limited trading hours and tracking errors potentially but with With I trust you don't have that and what's great about I trust is that again I've been using them for three years is that it's not just I'm not with bitcoin I can have gold and silver which I own both in my Roth IRA. I know shocking I still like precious metals But I have all these different things bitcoin a theorem salon XRP. I mean not me Actually, that's not true. I do have bitcoin a theorem salon XRP and avalanche How crazy And there's a host of different other cripples that you can put in there and what's great about it Is if for instance, you're like, okay, I think eos is going to do awesome I don't think it's going to be here for the next, you know, five years when I turn 59 Or whatever So in that situation, maybe you want to trade within your IRA and guess what just it's tax-free when you trade within your IRA And there's no fees Excuse me. There's no monthly fees. It's a 1% transaction fee what you do in your IRA account but again something that you want to think about because the The limitation is april 15th when you can contribute up to 7,000 8,000 and if you want to do between 24 you do the day after so That's it for today. I just want to bring up to everybody's attention. That's it So if you like today's video, give it a thumbs up consider subscribing. Everything to talk about is time sensitive