 Welcome to Jalassa news or Dan for short. My name is Rob and today We've got some pretty good news that we take a look at say the Warren Buffett Backed digital bank new bank looks like they're gonna be partnering up with polygon And this is just one more example of how I think that crypto is definitely here to stay They're gonna take a look at the old adage do your own research just how difficult that is we take a look at an Example of Voyager and we're going to get into what we like to call as clown news JP Morgan and Celsius and lastly as we talk about some good stuff I have to bring in some a little a little touch of of Reality which is we can go lower so don't get complacent. So first things first. Let's get into the good stuff Buffet back digital bank new bank and polygon looks like they are partnering up and this is It's a reason why I keep buying polygon or mattock I still dollar cost average not as much as I used to do I'm just waiting for the Fed to capitulate or to pivot I should say and right now I think we could go lower But I'm not sure Ben these are the things that give me give me pause and say wow I think we're in the right place the right time. So Brazil's new bank to introduce crypto as part of rewards program Here's what's going on on Wednesday as today They announced plans to release its own crypto as part of a new customer rewards program So first of all that first sense is not I'm not liking that too much because when when centralized banks build their own Crypto, it's not a good. It's it's not a good start JP Morgan has JP Morgan coin And of course we're looking at CBDCs. That's very centralized stuff. So my first others I almost stopped reading something like well, this is no good. However, just wait The Warren Buffett backed new banks said in a statement the new coin digital currencies expect to be launched in the first half of 2023 Its goals offer customers benefits such as discounts and perks as they accumulate new coins Again, not earth shattering. It's just a discount program or Just customer perks as I say this follows a similar move by South American e-commerce giants Mercado Libre announced in august the creation of its loyalty program related crypto Mercado coin money Polygon tech and ethereum scaling blockchain developer will provide tech and tech support for new coins expansion So looks like they're going to be uh, I don't know if they're going to be building on top of this Or they're just going to be giving advice But it doesn't make much sense why polygon would go in there and just say we'll do this and do that and do this I think for this to actually work They probably want to build it and that's why I think Again polygon can be quite big New boink new bank announced in may it would allow us Brazilian customers to make crypto transactions On its banking app. So again I don't know exactly the details of what's being built on layer one or a sidechain or whatnot But of course polygon is a sidechain to to ethereum. I think it's good news And I think it's gonna it's going to help us as far as the holders of polygon and don't forget that There's a couple things to note First of all when I was thinking about when I was looking at this. I'm like, what's new bank. Is it really that big? Yeah, it's pretty big It's uh, it's got 70 million clients. It's not bad for a digital online bank And uh, this looks like it's uh, mostly in the latin american countries, but that's where we're seeing adoption uh, latin america africa Uh other countries such in those regions. So I'm liking what I see also. Don't forget Polygon or matik, uh, they've been making waves for a couple different things. First of all, they were one of six To be accepted into the disney incubator program and i'm not telling you to invest into Polygon or matik. That's the molly fool and uh, their title So I cannot give you financial advice But just remember in mid july i've announced that polygon will be a participant while disney's accelerated program It's a business development initiative designed to promote the growth of innovative companies from around the world disney has its site set on blockchain This is why they partnered up augmented reality metaversed nfts artificial intelligence everything web three polygon was only one of six to be accepted in the program and don't forget They're also helping out with uh, facebook now called meta As they added ethereum polygon and flow nft cross posting between facebook and instagram And then also I mean it's really cute that they're doing these things But I think this is a bigger the bigger one This is stripe And if you own an online business, you know exactly what this is. It's a big pain actually and it's quite expensive I might uh, I might add and stripe Came out a little bit ago and said yeah, we're gonna add on polygon for payments. This is exactly what it is Payments or payouts will take place over the polygon network Which we chose for its low fees speed integration with ethereum and broad wallet compatibility meta mass coin based wallet and rainbow So again, this is a global Powerhouse for payment stripe and even they're getting into it. So when I take a look at all these things. I'm like this might be a pretty good opportunity To be at the right place at the right time again I can't tell you what the future will bring and we're going to get into the do your own research type of thing in a second But uh, this is I think positive news for polygon and medic holders and surprise. I am biased I actually on it So let me know what you think about that is it's going to propel polygon just one more step or Right now in the bear market and really nobody cares now. It'll lead me to my next piece Voyager and do your own research and this one was It was a tweet from uh front of the show patrick ackerman And uh, it was some documentation about three acs three ac capital three hours capital, excuse me And how voyager got involved with them and before I read that I'm just gonna make a quote here Which is what I said here in twitter. I said when people say do your own research How the hell are we gonna know what kind of nonsense is going on in the background? You won't know until it's almost too late and that's the truth. So like For traditional stocks or equities the s and p 500 you can get away with a set it and forget it But in crypto things move so fast you got to be on top of it and even us like for For this channel, we know that I talked about voyager quite a bit at the vgx token And then when I found out about this loan This was on June 22nd We put out a video and I said i'm gonna stop using i'm gonna pull off my crypto Off of voyager because of this uncollateralized loan and you can look it up. There's a link in the description uh, which Sends you to that video and then two weeks later And of course we put up the rules too after that two weeks later. They shut down with draws So you really got to be on top of things and this to me is just amazing. Here's what happened It's very long. I'm just gonna paraphrase for uh for time's sake As of december 31st 2021 voyager held approximately almost 6 billion 5.8 5.88 billion in crypto assets on his platform. That's a lot But about half of it 2.7 billion Has been loaned to various counter parties as part of voyager's lending program at the time to let Largest individual counterparty was alameda research, which is led by sam bakeman freed and ftx And they borrowed 1.6 billion no problems there No problems because they took a look their balance sheet They did their due diligence said to how much do you have for collateral and we got enough everything was so good But that represented 61 of voyager's loan book These loans are made largely on an unsecured basis unsecured basis. However Profit and loss and different documents did show they have enough for for collateral if the time came In exchange for market-based returns on a voyager's judgment correspond with acceptable risk. I get that I get that part Here's what I don't get this next part here Right in the middle on february 11 2022 voyager and three-year-olds capital sign a mutual Non-disclosure agreement to permit the exchange of confidential info Between the firms they explored a lending relationship I don't know if you knew about this. I didn't know about this this this partnership with three-year-olds capital Here's some of the things that uh, even if you were trying to do your own due diligence very tough On february 13th, there was capital provided voyager with a statement Signed by one of its founders kyle davies containing only a single sentence Saying that three ac's nav as of january 1st was 3.7 billion That's let me read that again kyle davies contained only a single sentence Saying that three ac's nav as of january 1st 2022 was 3.7 billion. So it's like hey This is how much we have i'm going to write that down I'm going to do that next time when I go to the bank. Just so you know bank. I have 3.7 billion signed Rob and then go from there. See if that works out Unlike other substantial borrowers of major assets three ac did not provide a balance sheet Audited or on audited in response to voyager's formal due diligence questionnaire Three ac subsequently provided description of its corporate structure and certificates of good standing in the corporation a copy of its aml policies and controls So again when we hear about these things about you know, you just got to Do your own research just get out there and get as much information as you possibly can Some of these some of these things we'll never know the things that are behind the scenes We won't understand and that's why it's important in this I think in the crypto market again I'm not telling you what to do. This is what I do diversification Because there are some projects going to go to the moon and they have good backing and they have a great team And they have a good judgment calls and they actually make it and they navigate the problems that are all around us these pitfalls How many of those are going to make it not many So when I hear people talk about I put all everything into doge I put everything into she be knew I put everything into polygon I put everything into bitcoin I put everything to blah blah blah. I'm like I don't know If that's the right thing for for you because I don't know your situation for me like to diversify Again doing your own research is very tough Let me know where i'm off in that in the comment section or if you know a better way to do it because these things Sometimes just don't get made public until it's almost too late So that would take us to our next piece the clown news So with this one We haven't done this in a while and uh, it's good to have a little brevity of the situation. Look The markets suck the markets are moving sideways. I think that's they're going to go down But let's just have a little fun. And that's this former celcius exec Joins jp morgan as director of crypto regulatory policy. I know everybody was bashing this and i'm like, hey, uh What better person To put in this position than someone who knows how to get all the regular around all the regulations It's like putting a hacker in a position for your cyber security. That's who I'd want You know, no one wants a virgin talking about sex. I mean, look, this is a pretty good hire in my opinion But it is quite funny. I think so former celcius exec erin ivan Has joined jp morgan chase and company's executive director of digital assets Regulatory policy. First of all, I didn't know they even had that position I would have applied for that But I think it's it's also worth noting that jp morgan has a division or a job For digital assets regulatory policy days after the bank's chief exec jamie diamond blasted crypto as fraud and decentralized Ponzi schemes again look at what they do and what they say And the only way that we knew this was because there was an updated listing in uh, erin's bio in linkedin But a spokesman for jp morgan confirmed the hire But declined to provide additional detail. So they're like, yeah, he works here. That's it. And then also Um, if you want to know the most up-to-date things that are going on for the plans We can get those we can get our crypto back. I think everybody knows how much I got on there No small change. There's two options. First of all, I can't cover everything but follow simon dixon He's the one that's trying to get everything and make make investors whole again There is a link in the description to his channel if you don't like simons version of uh, because he he's very concise and very Engaging and very long on the videos simon will even say this There's another channel, uh, erin benet and erin does a great job of paraphrasing everything that's going on Just kind of breaking it down to bite-sized pieces So you can watch an hour with uh with simon and get all the information or you can go to to erin's channel And uh, he'll break it down in like 15 20 minutes. So it's up to you again. There's a link in the description And that's it. So that will conclude the clown news. I will turn off my filter and lastly We took a look at some good things Some good things going on jp morris has a digital asset regulatory department apparently Polygon working up with uh new bank warren buffett now. He's directly linked. I think the crypto But the next one is I got to be honest with you. Don't get complacent We can go lower and before I get to that what I'm talking about is this I know it's tough right now. Look The market sucks And but we still have to do the hard things to get to the promised land Uh rome wasn't built in a day and uh, sometimes it just gets tough. Now you guys know I do not like the cold weather This is the temperature almost right now. That's why I'm wearing this fancy sweater that I've got on We still got to do the hard things that suck And some of those things are showing up every day listening to the news figure out what's going on in crypto Figuring out if it's it's in your best interest to keep on investing or not Or thinking yourself, you know bear runs don't last forever. I think bull runs coming up and we do the hard things So like even me I got to do the hard things like I don't like swimming in this pool every day Especially when it's 60 or below It's cold It feels like daggers But it's the things that you have to do Because I know it's good for my health. It's good for my stress level. It's good for uh dopamine rush and all those things And it's also good to reduce fat levels and keep me healthy, right? I don't want to do it. The dammit. I got to do it the same thing with investing and And crypto and digital assets. Sometimes you don't want to show up, but you got to show up And I'm just here to say that I think we can still go lower and if that happens don't be surprised I mean, I'm not a oracle I don't have a crystal ball, but there was some interesting similarities To what's going on right now. It's what happened in the last cycle. So this is 2017 Oh, those are good days when bitcoin was at 19,400. I'm just kidding. It's the same thing today It's about how much bitcoin is right now Five years ago. Geez Louise So but you can see just the pattern here We started in 1904 and then we dropped big time 7,500 6,800 7,500 somewhere on there and it went up and it went sideways And everything was good and then we're just kind of chopping sideways 7,300 6,700 And this is what it feels like right now, right? August September October It's the same thing over here. Look at this Came up here Well, a little bit higher than that and we dropped down and then we're just chopping sideways forever And we're like, oh, this is it. This is the new low. This is how we're going But then again, October or whatever it is today 18th. Wow, I say 18th already 19,348. You're actually down if you bought at the very top But here's what I want to remind everybody What happened in a couple weeks went like this We still went down. We were at 6,300 And everybody thought that was 6,300 not too bad, but we still dropped to gosh 3,400 3,400 So even though this seems like this is what it is, it can still drop lower. Does that mean it will? No I'm just trying to prepare you. Does that mean we can't go up? We can go up Sure, we can continue to chop sideways, but if there's any history Like we took a look at the cycles The last one we dropped 85 percent In 2017 we dropped 84 percent and thus far we've only dropped between 71 and 74 percent depending on what you see So those are just something to consider And it's also another thing when I talk about diversification. So diversify You don't have to do this But sometimes I think to myself Maybe I should diversify a little bit and that's why I want to say thanks to masterworks for sponsoring the video Masterworks fractionalize shares of our pieces. I've got to a bank scene a basket I don't own the whole thing just fractionalize shares and so far I'm up 40 percent since last year because I bought this in october 13th. Hey, it's over a year october 13th Here's the performance that it's been doing so far on other types of assets and now and actually Alan came on the show. Alan Sokolitski. He is the chief investment officer And this is what he said about the growth and correlation of the markets the latest numbers I can tell you we now have more than half a million registered users on our platform Those numbers are basically growing by the thousands. It seems like every day that goes by At this point we've now We brought north of 130 paintings To the platform to make available to investors. That's totaling roughly 600 million dollars more and more investors are starting to realize Wait after the last several years and everything that masterworks has demonstrated It actually does look like the art market is in fact not correlated to any other major asset class So we're getting a lot of interest even in the current market environment So look, that's just what i'm doing And you can take a look at it, but just like Alan talked about I know some more Non-correlation and just to put everybody's minds at ease a little bit Know that these are registered with the sec because these are Securities they register every single painting with the sec And you can find all the data Right here. So Also, if you're looking to sign up this link in the description looks just like this And we did a video on the nitty-gritty of how that all works But that's just one piece. It's a very small piece of my portfolio But it's what I do and that's it. So look that's it for today's video if you like today's video Give it a thumbs up subscribe all that good stuff And that is the takes care of the news part now if you want to stick around We're going to go over Q&A I'll answer all your questions the best of my abilities and we'll go from there So if you got to take off take off you've been here for 19 minutes. Thanks for stopping by Let's jump into a little Q&A and get from there Bean from the cryptoverse 2 What that is Everybody love Ben's channel Ben had a good one about will bitcoin capitulate I recommend everybody to take a look at that Bicky says it well disclaimer not financial attacks advice chambered in timbers is only Just an opinion den is not an expert as you can probably tell Or a financial planner perform your own research Rob, did you say you're using coin ledger for taxes? Yes. I've used him for the last