 Welcome to Digital Asset News. My name is Robin. Today just the thumbnail and title suggest it really does come down to everything that's been going on in the crypto and digital asset space as far as bankruptcies and I gotta tell you it really comes down to resiliency. What I'm talking about is there was a tweet from Cameron Winklevoss and Winklevoss, Cameron is part of the Winklevi twins. They're the CEO and owners of Gemini, a centralized exchange and unfortunately unfortunately at one point they had a program called Earn and with Earn you could put your crypto into this Earn program. It would gain you yield and they used Digital Currency Group's Genesis platform to goner that yield. Unfortunately Genesis which was one of four of the subsidiaries of the Digital Currency Group, one being Grayscale, Foundry, CoinDesk and of course Genesis. Genesis just fell for chapter 11 a couple of days ago and the Winklevoss came out and they said this, look we know that Genesis is going through chapter 11. We've been working around the clock to negotiate an acceptable solution with Barry Sobert. Sobert is a CEO of DCG Group. He goes the good news is that by seeking the protection of the bankruptcy court Genesis will be subject to judicial oversight and be required to provide discovery into the mechanics that brought us to this point. Crucially the decision to put Genesis into bankruptcy does not enslave Barry, DCG and all the others. This is where it gets a little spicy. So we've been preparing to take direct legal action against Barry, DCG and others who share responsibility for the fraud that has caused harm to the 340,000 plus Earn users and others duped by Genesis and its accomplices. And look I mean Cameron and Tyler, they're not going to get off scot-free here. They're going to unfortunately have to bear some of that burden of the decision that they that they did to go with Genesis. However, I will just caution everybody about this and that is that so far with the bankruptcies hasn't really been really great except for the old guard or the exchanges or the people that were running the exchanges and the lawyers. Those are the only ones that really make out like bandits during Chapter 11. So I hope that there is a fast resolution to this but I don't see it being very quickly and you can just take a look no farther than Celsius and Voyager and of course now BlockFi and unfortunately Genesis. But to finish this little snippet up Cameron comes out and says look unless Barry and DCG come to their senses and make a fair offer to creditors we will be filing a lawsuit against Barry and DCG imminently. So let me do anything about that in the comment section. I'm not a big fan of Chapter 11. I sometimes just think it would just be easier just to go through Chapter 7, liquidate everything, let everybody start fresh and wash this out of their system. And speaking of Chapter 11 and bankruptcies this is John J. Ray. He is the new CEO of FTX and he was speaking before Congress and he talks about how FTX could restart very soon and what he's talking about here is he's saying look he goes we're looking at the possibility of reviving the bankruptcy crypto exchange FTX as we work to return money to the failed companies customers and creditors. Again I'm not a big believer in Chapter 11 and them you know getting out of it and it's going to be very hard to return that money when unfortunately the United States government lays claim to 700 million. Here's what happened. This just came out today. U.S. government wants to take control of the nearly 700 million of assets it seized earlier this month. This is included in the property are over 55 million Robin Hood shares worth a half a billion that was bought with Alameda money and this is at the center of a fight between Bankman Freed FTX and BlockFi. Officials are also moving to claim 171 million in cash from a series of bank accounts linked to Bankman Freed's web of companies and this is a statement from a U.S. government lawyer. He states we believe that these assets are not property in the bankruptcy estate meaning we believe that those assets which were your assets is now ours. So again I don't see how this is going to be a very good news moving forward but I will just say this resiliency. We can just take a look here out of all this news and it's not the most positive news let's be honest. Over the last week 10 days we've seen Bitcoin rally we've seen the crypto market rally Bitcoin in the last seven days up 17 percent Ethereum 14 percent XRP 7 percent Solana the big winner I think right now at 13.6 and 40 percent for the week okay I don't know why they are up it makes no sense. Another crypto project linked to an exchange I'm not going to be into that but again very resilient and if we take a look at the four-year cycles which I still believe in the reset years which are two years after the all-time highs and this happened in 2021 we had an all-time high and a dip 2022 brutal then a reset same thing happens last four-year cycles we had a halving all-time high dip and a reset look at that reset here look pretty good and even if we go back to the reset year for 2015 it was still sideways with some you know nice little peaks but not huge drop offs until we hit to the the reset years and then also for of course the halving years we can see that just in 2020 the halving year was looked pretty good 2016 pretty flat but because of course we're just not looking at logarithmic wise but I still think we've got a lot of room to run so out of all this bad news out of all the things that we've lost we're still holding up quite nicely so let me just think about that in the comment section and then lastly or second to last ethereum uh i own ethereum everything i talk about i own in this channel i'm very biased but i just want to get people's opinion on this one it looks like the core developers which is about 30 or so in ethereum they're looking to postpone the shanghai upgrade the shanghai upgrade is what's going to allow you if you have staked your ethereum to unsteak your ethereum and take those rewards so people given ethereum a lot of guff over this about you know pushbacks and and taking their time but it looks like it might happen and before you pass judgment just let me read this part so the shanghai appears to launch by march core developer mika zoltu said this it feels like we're not thinking about the long-term health of ethereum a few of the other 30 or so core developers are worried that a recent decision to forego a technical adjustment to shanghai will expose ethereum to unnecessary technical debt with unknown implications for the years ahead the tweak that they want to do would have only taken an extra two to four weeks to implement by these developers estimates and amount of time the rest of ethereum's core developers weren't willing to keep the public waiting here's what i'm going to say i don't know where you guys are at are you watching the video right now i'm all for it like i don't have anything staked up i don't but if you can just take a couple of weeks or maybe in a month who cares as long as we get this done the right way we've had enough problems in 2022 now 2023 so let's just take our time take a little bit of extra uh extra time to actually get this thing done rightly and then we can move on we've already had enough problems let's just do this thing right and move it if you agree with this reach out to the theorem foundation and just ask them hey i have no problem with this maybe they'll take our recommendations and move from there and lastly i know uh in this bear markets something nothing's really going on i'm going to take a look at and get back into some what i call some d gen plays and there's two things i want to look at there's a game called alaska gold rush and also this one that you may remember called flappy bird and i'm taking a look at these because they're both about to launch pretty soon and yes if you get to answer your question i'm probably going to invest into this one and i'm probably going to invest in a fly bird just how it is i always thought gaming would do pretty well but i'm not a big platform gamer guy but this one looks pretty good as far as this is a web three gaming mind you and this is the graphics and it looks like they're going to be launching like i said like in a month or two for the actual game so if you're into like these types of things where it's like really good graphics and really good gameplay this might be for you and i'm just going to see how this works out i personally think that as many gamers are out there for this one i think there's going to be three four or five acts where people are going to want to play this stupid game where it's just you just tap a button and you play to earn different flappy coin and whatever they're going to do with this one so it'll be interesting i'm going to do a deep dive over on dan d gen i won't be on this channel this is for the degenerate plays but i think i have a thesis and the thesis is i think there's a lot of more casual game gamers than there are gamers who want to play something like with this elastic gold rush i think both are going to be good games but let me just need to see what happens anyhow let me just think about that in the comment section that is it for today so look if you like today's video give it a thumbs up consider subscribing everything we talk about is time sensitive so subscribe hopefully youtube will notify you that's it so thanks so much for starting by do appreciate you and i'll see you on the next one