 Welcome to Digital Asset News to get top stories and crypto currencies and digital assets and break them down into bite-sized pieces. Today, concerning news, first up, world's biggest banks caught in a major scandal. What does it mean for Bitcoin? What does it mean for the traditional markets? And what's going to happen in the near and long-term future? I've got some information and it's going to surprise you. Also, an analyst claims that 1,500 Bitcoins are lost every day. Less than 14 million coins will ever circulate. And this is one of those things that I always forget. But the question really then becomes is what's going to happen to the Bitcoin price? And lastly, this is from Max Kaiser of Bitcoin Maximus, where he says, Shareholders will now demand corporations start acquiring Bitcoin after micro-strategies mega-purchase. And the reason he gives, I understand, but I think there's way more to it. And we're going to talk about that in detail. So today, it's Monday, the 21st of September. It's almost 11 a.m. Texas time. And before we get into the markets, our markets, Cryptocurrency assets, I want to go over this story because I'm going to go into what's going on in the global market. So let's just dig in right first. So world's biggest banks caught a major scandal. Not surprised. It's not the first time this has happened. Let's just be honest. But here's what's happening. The largest banks in the world, JPMorgan, JS, HSBC, and Deutsche Bank allowed criminals to launder almost 2 trillion. That's trillion with a T. As long as you remember that. Trillion with a T. They've ill-gotten money from 1999 to 2017. So it wasn't like this just happened. It's just one of the things that the banks do. They always do this. And they just got caught. According to the leak, Finn sent files. The investigation was conducted by 109 media organizations together with the International Consortium of Investigative Journalists. So moving down, safeguards are failing. The above mentioned banking institutions reportedly helped known drug kingpins, Ponzi scheme operators, contract murderers to move money around the globe. I want to read that again. Kingpins, Ponzi scheme operators, contract murderers on top of whoever else may be in that subcategory. So we started to talk about banks. Not all banks are bad, right? Not all people are bad. But when you take a look at these banks and they're moving $2 trillion plus around, you have to really think to yourself, is this the type of world we should be living in? Is this the type of thing that should be going on in the background? And why don't people stand up when this type of nonsense is happening? And the reason why it doesn't, because people have been desensitized and they've been bought and sold like cattle. And that is one of the problems. And that's what we are trying to do is get rid of these bad apples. Not everybody's bad, but these people have to go. And the report states, profits from deadly drug wars, farsions and bezels from developing countries, awful. Developing countries and hard earned savings stolen on a Ponzi scheme were all allowed to flow into and out of these financial institutions despite warnings from the bank's own employees. I think that's the most shocking thing. The bank's own employees. And that's from low level to the upper level management. They're like, hey, there's something going on. This is bad. We can't do this. They're like, nope, we're going to keep doing this. Hopefully someone goes to jail. But I got to tell you, if you look at history, bankers don't go to jail. More than 1.3 trillion of dirty money was linked to Deutsche Bank. Mark Schufs, the editor-in-chief of Buzzfeed, describes as one of the biggest laundering schemes in history. He states top executives at Deutsche Bank had direct knowledge of years of serious failings that left the bank vulnerable to one of the biggest or largest money laundering scams in history. The probe exposed the shortcomings of anti-money laundering, or AML laws that you and I both have to comply with when we go to our banks or our cryptocurrency exchanges and other measures that were meant to eradicate illicit activities. Lastly, it states, major financial institutions often fail to perform the most basic checks on their customers, such as verifying where a business is located when someone opens a new account. I think there's a caveat there. They fail to do that when those entities or those individuals or whoever it is have a lot of money. Because I got to tell you, I got to tell you, from me and my personal experience, they're always asking that question, probably because I don't have a couple of billion land around. Charles Edwards is the founder of Capital Investments, claims of the inherent transparency of Bitcoin. It makes it easier for exchanges to stamp out crime. But when Bitcoin is used for bad, it's publicly traceable, and exchanges usually unite against the perpetrators. Banks can bury this stuff for years. Let me say that again. Banks can bury this stuff for years. This has been going on for 18 years, and it's just now coming to light, which I got to be honest with you. I'm surprised it came to light at all. And to finish up, Mark Santori, the chief legal officer of Kraken, cautioned Bitcoiners that the major scandal is not good for crypto. He states, if you think this is good for Bitcoin, you're gonna be disappointed. Okay, so let's break it down. Here's my thoughts. When I first read this, I thought, yeah, this is gonna be great for Bitcoin, cryptocurrency, digital assets. When I read that, I started to think, I'm like, yeah, that could be the point. But here's the thing, we're both right. It is gonna be good, and it is gonna be bad, and here's why. So let's take a look at what is going on in our market real quick. So we got Bitcoin, that was almost touching 11, down 4% to 10.3, almost 10.4. The Ethereum down 8%, 337. Tether, Tether, whatever. XRP is at 23 cents, sure. Bitcoin Cash, 5. Polkadot, ouchy, 13%. 11%. Ah, finds ouch. Chainlink, dropped below the $10 mark. And now it's at 876, crypto.com. Everything's going on. Oh, one real quick on crypto.com. There was a database issue. It looks like they solved it. Everything's up and going good. So nothing to be worried about. Move along, citizen. Litecoin's down, everything's down. Cardano down 10%. Man, down almost 8 cents. Tron, 7 cents. And then there's some bigger ones down here. Tezos, 15% for Neo. Where is, let's see, VeChain, 12%. And then Urine Finance, almost 20%. 40% for the week. 3% in one hour. And it was almost touching 40,000. Here we are, 22,000. So hopefully it didn't get caught in that one. UMA, 22%. You can see a lot of these DeFi ones not doing so hot right now. Again, I believe DeFi is the future. It just has to find its stride. Uniswap down 12%. But hey, four bucks. Not bad for you. For everybody who's got Uniswap, that's like $1,600 still. What are you going to do? And I mean, nothing's really up. Except for DigiBite. So congratulations, DigiBies, for somehow, some way coming, keeping your head above water. Congratulations. So that's what's going on in our market. Let's take a look on the traditional market. This is 7 a.m. This is a mountain time. So if you're looking at Eastern, where, you know, in New York and the markets, major drops, 800 points. Virgin Correction, 3222. Diploma, 615 points. And here's what we can see as far as the opening bell or that 3,200 dropped a little bit. Yeah, massively. But then look at this, a little bump up, a little down, a little up. Here's the thing. This does sound bad. And it is bad. I will remind you that the 2008 financial crisis was all brought about by greed, by banks, by mortgage companies, and all the different players that were out there that got way ahead of themselves and screwed the whole globe. Really, that's what happened. So if we take a look at that and we see that the money laundering, what happened there, well, this isn't the first time. I mean, most of all, we had a nice little account scandal, 2.7 billion. You had something like, another JP Morgan Chase, it was 30 billion in fines and counting. You got Deutsche Bank, 900 million for failing to stop money laundering, which happened again. Department of Justice Bank of America pays 16 billion for their problems. And then Goldman Sachs just bought their way out of another issue that they have with 1MDB scandal. So all these things that we're talking about, and then we start to see about this money laundering thing, here's what I think is going to happen. And you can put everyone in the comment section. There's going to be outrage by Congress. People are going to be up in arms. They're going to demand a hearing. The hearing is going to happen. They're going to drag in these big bankers. You're going to see Jamie Dimon and everybody else in there and before you know it, it'll be out of public consciousness and people will be on to the next reality show and no one will care because that's how it works. The only group that it doesn't work with is us because we know exactly where we're at. We know exactly why we're in this space. We know exactly where things are going to. Banks and additional finance are on the brink of collapse. And if they weren't, they didn't have these problems. They wouldn't have to do all these legal things because they could do everything legally. And that's why I believe cryptocurrency digital assets and decentralized finance as a whole. So I was talking to my friend Alex Mascioli. If you don't know, he is the head of BeQuant institutional investments and he's got his pulse on all the big players in the space, traditional and in cryptocurrency space. And I asked him, I said, Alex, do you see this new article that just came out about the banks? Is this going to be a big deal as far as like shaking up the industry? He says, honestly, they, many of the institutions and banks and everyone else are so desensitized to the banks rule breaking that no one cares anymore. Just the government, he likes to do a lot of big fines to help support their balance sheet. And I have to agree. I think that's exactly what's going to happen. They're going to bring them into Congress. They're going to a little slap on the wrist, which could be a big slap, but to them, not a big deal. A couple of billion dollars isn't a thing if you're making trillions. So we'll see what happens, but I don't have much faith in the government and banks in general. Let me know what you think in the comments section. Let's move on. 1,500 Bitcoin loss every day, less than 14 million coins lever circulate. This is one of those things where I just can forget to talk about because it's one of those issues where we talk about the scarcity of Bitcoin as opposed to gold. And we always say that that magic number, 21 million, but we have to remember there are people in the very early days that threw away hard drives that just didn't really appreciate or didn't really understand how big Bitcoin was going to be and that's okay. That happened. And then just threw it away and they lost it and they never recover it. So when we say 21 million, it's really the number that it likes to throw out is 18 and a half million. Now they're thinking 14 million. So Peterson, who is a CAIA manager at Cain Island Alternative Advisors, argues the merits of his assertions, which is 14 million only. Peterson points to a research note published by his organization early in the year and the five page document in the term irretrievably lost is introduced to the Bitcoin lexicon earlier in the week. And this is just talking about how hard it is because people say, well, you know it's lost, but you can still get it back in some way. Well, no. Earlier in the week, Bitcoin.com published a story of how hackers have been trying for years to crack a Bitcoin wallet that is believed to contain 69,000 plus coins, which can't be accessed for years. And I'm sure technology has increased over the last two, three, five years. So they still can't crack it. What are you going to do? The team at Cain Island Alternative Advisors were able to estimate that since 2010, 4% of the available supply of Bitcoin has been lost each and every year. This points to current available supply at about 13 million, 13.9, 14 million coins. Well below the 18 million total supply figure publicized. This means that about 28% of all Bitcoins have an irretrievably lost. To budget their claims, the advisors referred to earlier studies on the same subject first by Ratliff in 2014 and Chain Analysis 2017. And their report was released on April 16, 2020. However, some people challenged them and they said they can't be right. 1,500 Bitcoin per day seems extremely high. And Peterson told them this, hey, the Chain Analysis report, if you do the math, says 1,900 per day as of December 2017. And he says, my numbers are more conservative than that. Only 1,500. So we know that Bitcoin is being lost every single day. However, another Twitter user questions the research and argues that they imply that in 30 years all 21 million Bitcoins are lost. Well, of course not. That's not how it works. At some point, people are going to be able to realize that Bitcoin is kind of valuable. You know, $20,000 you kind of be a little more careful with it than when it's worth, like, I don't know, a penny. So yeah, I think we're going to see less and less Bitcoin lost. And I think we need to really think about that number as far as evaluation because it's even more scarce than what even I thought of. Because I would always say 21 million point, but now we're at 18 million, maybe somewhere between 14 and 18, let's just say 16 million. That's a lot less than what 21 million is. And that's the total ever supply. So let me know what you think in the comments section. Let's move on. Last up, and I'll keep this quick. Shareholders will now demand corporations start acquiring Bitcoin after micro strategies make a purchase. Max Kaiser says, you know what Max Kaiser? Then you live under rock. Now, I was kidding. Max Kaiser is a Bitcoin maximalist and everything is Bitcoin all day, every day. And we discovered the story about micro strategy, how they acquired close to half a billion dollars worth of Bitcoin in a very short amount of time. The reason they did it was simple. They said, look, there's an inflation rate of cash that we have in our treasury and we're just burning it, just sitting there. We need to do something with it. And of course the problems we could put into assets, but there's also asset inflation, especially with what's going on in the global economy. So we needed something that wasn't quantitative easing, like printing money. We needed to actually store it in a store of value that was quantitative hardening and we chose Bitcoin. And that was essentially it. And then what happened was after that happened, they also did some buyback of stock, which is true. And their stock jumped up almost 10%. So between buying Bitcoin and a little buyback of stock, they actually gained a lot more. What Kaiser is saying makes a lot of sense. He says, micro strategy declares war on the Fed. Who will join them? Every CFO CEO per status of corporate governance is now obliged to examine their own melting ice cube, meaning the money that they have in the treasury. Shareholders will now demand they deploy idle cash to Bitcoin. Michael said it was a revolutionary. So I agree for once with Kaiser on the fact that they will definitely, especially shareholders, they will say it because they don't want to lose their money. But on top of that, it's also good for your stock. If you're looking for people that really understand it and they go, oh, we're going to get out of cash, which is going to be great for the long term. And also for the short term, if we buy Bitcoin, then, you know, the stock price goes up. So we can handle that. That sounds okay. So that's just my two cents. Let me know what you think in the comment section and let's move on to Q of the day. And this really just comes to from some disturbing trends, I guess you can call it, that I've seen in the comment section. So let's jump in the office. Well, everybody, welcome back to the office. So interesting times that we're in, right? It seems like in some places the world's on fire, some place everything's good, and then in some place people just put their head in the sand. It's just an interesting time. But I think there are massive opportunities out there. Just have to find them. So in today's Q of the day, it's not really, again, questions. Actually, it is a Q of the day, I guess I would suppose, because it's a question that I have. And I think I may have figured it out, but I'm not for sure. So I'm going to buy you to see what you think. So here's what's going on. So in the comment section, which I got to tell you is where I get most ideas for all the different segments I want to do and where the holes are in the education of what I'm trying to talk about. So it's very helpful. And of course, some people that comments are negative, some are comments are positive, and everybody's different. That's what makes the world go round, which is awesome. And of course, when I first started the channel, I'll just be honest with you. I was kind of shocked. People are kind of mean to me. That's kind of awful. And then before you know it, it just becomes like one of those standard type things, right? And now there is only one thing that really makes me mad is when someone has like an unfounded type of comment, which has no basis for anything, and there's no really thought process into it. So I'm like, that part I don't like. But the other part is like, I remember one time somebody called me a retarded potato. I thought that was pretty funny. I still think it's funny. I always talk about it to my friends. But there was a stream of comments that had come out and they were all one right after the other, which was kind of weird. And when I'm looking at these things, it just kind of made a whole picture. So here's what we're going to start with, with Sammy Centelli. And Sammy says, in the very beginning of this, and it's not a threat, it's just one comment right after that. It says, I'm sorry, I'm out. I had to sell all my crypto. I just feel like something bad is right around the corner. Okay. But sometimes I feel like too. And then this is from Matt Campbell. He says, I respect this channel, but you are so blinded by your own garbage that you can't see what's ahead. Do a little research and maybe you will change your mind about what's going on with crypto. I'm sorry, buddy. This time you're wrong. Everything's coming down just like it did in March. And this was a video where I was talking about Raul Powell. He was on my friend Jerry's show. And they just talked about how there may be an ETF around the corner. And I said, that's not going to happen. I've been hearing that same song and dance for like years. And I don't ever, don't ever get any response. ETFs, I don't think are going to happen. So I don't know. I was like, that's kind of weird. So I don't know what they're talking about. And then the next one is, has anybody ever noticed he never has any bad news? He never says we could be in for a train wreck, not one single time. I'm going to tell you right now, get out of the car because it has no brakes. And again, I'm like, somebody called me a doctor doom or a wet blanket. When everything was going up, not too long ago, and I was like, I think it's going to, something's going to happen. And of course it did dip a little bit, but it wasn't like the crash. I thought I was going to be so, there was that. And then it just kind of goes through and just, you know, says about, you know, this guy never has any good thing. And then this one's a good one. Mason says, your karma will come. So be careful on how you persuade people to buy because of a little backfiring in your field soon. So I'm like, that's interesting. So I'm looking at this thread. And the first thing I noticed is that Sammy Santelli and has a Bitcoin for their, for their icon for their avatar. And then Sammy Santelli just has an S and it's about the same thing. So I'm like, hmm, weird. So I'm looking at that. And then when I go forward, right under the last one, this is from Bitcoin, wake the hell up, rolled around a gas, around the same stuff. Right. And that's it. So then the next one is from Jimmy Carter. Jimmy Carter, the president right before Ronald Reagan, I'm guessing he's on my channel. Hello, Jimmy. Hope everything's going good. Bad hips, whatever. So he starts talking about, you know, hey, there's this problem with Bitcoin and what should we do? And of course, he says a particular broker made my earnings increase drastically from Duke Bitcoin at 7 Bitcoin, just three weeks and some days. And then, then just, you know, the same song and dance we've always seen, like the bots come out. Thanks for recommendation. Gary's fantastic and legitimate. And then of course, on the last part of the very end, it's from Bruno Rego, who's, I guess, all the other bots says, if you keep falling for these huge Bitcoin pump coming videos, you'll be even sadder in a few months. Trading with Gary's strategy is the best for me. Consistent problems. So that one got me over. At first I was like, holy smokes. You know, I don't know where all this negativity is coming from. I mean, it is what it is. And maybe I messed up on some part that I'm like, and I was looking through it. I'm like, that's pretty slick. These bots are very slick now or whoever creates them. So they first start off, you know, like, of what just happened. This is, this is stupid. This guy's, you know, goofy and then it goes into, hey, this is what you got to do. You got to trade because he's always talking about how great it's going to be and it's going to crash. You got to use this trader. Got it. Right. On the flip side of that, they're, believe me, I am not a hundred percent with everybody on my channel. Some people do still call me a retarded potato. That's fine. And that's about it. So I just thought it was interesting. I think that's what is going on here. It's just a little acceleration to the bots instead of just saying, hey, invest with Gary. First, they talk about a channel, talk about how bad it is. Then they say, you know, not with Gary. And again, I told you, I'm not that smart. So it took me a little while to figure it out. But let me know what you think of the comment section and that is it for a cue of the day. Let's jump back. All right. That's it for today. So thanks for sticking around with me. I really appreciate it. If you are looking for any kind of alternative to your exchange or DeFi or wallet, I've got a nice little spreadsheet that goes over all the different fees and recommendations of all the things that I have used and currently using or potentially will use in the future. I've got everything from Coinbase, Celsius, Voyager, Gemini, Gemini Pro, Abra, Uniswap, Crack, and Etoro. Don't recommend them. And Crypto.com. So if you're looking for like, you know, what things are actually good and bad, this will be the spreadsheet that did check it out. You've even got the rates as far as how much it is for each buying and selling. And then also on top of that, Celsius and Voyager, I've got the different interest rates that you get just for holding your crypto with those two accounts. And lastly, if you want to go right to Celsius or right to Gemini or right to Crack and whatever else, you can do that. But if you use the affiliate links, they'll give you between 10 and 25 bucks just to sign up. And there's different criteria as far as like a referral payout. Now you put that all in the referral payout row. So if you're looking for the link for that, there's going to be a link in the description. Everyone in my videos is going to look like this. So go ahead and click on that and check it out when you got time. And that's it. So thanks for sticking with me. If you like these types of videos, there's going to be two months going to pop up on your left and right, not for sure which ones they are and that is it. So check those out. Thanks again for watching and I'll see you on the next one.