 Welcome to Digital Asset News. Take a top stories in cryptocurrency and digital assets, and bring them out of bite-sized pieces. Today we've got some pretty great stories about how firms or people are profiting from cryptocurrencies without investing directly in the cryptocurrencies. First up, Soros Fun, New York Life, Morgan Stanley are among investors of $200 million in Bitcoin investment firm NY Dig. So we'll take a look at that on top of a $2 billion merger, Bitcoin miner Cypher going public backed by Fidelity and Morgan Stanley. So some more of the traditional market players are getting involved into our space without really directly getting involved. And finally, we're going to take a look at what is going on with this Theta Gas or T-Fuel and what is going on with the Theta token itself as it skyrockets in a very short amount of time. So we'll take a look at these three stories, but first take a look at what's going on in the market. So today we've got March 11th, 8.30 a.m. Houston Tech is still here at the investment property, finishing up some funnel touches and off we go. It's been a pretty great couple of weeks, got everything set up and going, and we've have it rented for now the next two and a half months. So we're pretty excited about our prospects here. And it looks like it was a pretty good deal. What I'm going to do is actually at the end of this video, I'm going to link one of the videos I did previously about Airbnb and investing. This isn't investment advice, these are just the things that me and my wife do for alternative incomes. And so far it's pretty good. And just like I talked about yesterday, as this pandemic really starts to wind down and people get more vaccinations and everything starts to open back up, people are going to want to travel, and what do they want to do? They need to stay somewhere. So if they want to go in hotels, that's fine. Well, they can stay in one of our homes. And that's just how I see things moving forward. Anyhow, this is what we have for the market itself. Let me, first of all, let me blow this up. And here's what we have. Still, everything's going along swimmingly, 56, 57,000 almost, as Bitcoin jumps like 2.5% or so. And last hour, just 1.5%. And my friend George is saying, he actually called, he goes today, it's going to drop to 54,000. And by the end of the day it'll be at 60,000. So if he makes these predictions, which he's usually correct, I don't know how he gets this information, but we'll see what happens. George, great job. Ethereum's down a little bit, but we're looking at $1,800. Still hasn't hit that $2,000 high as before, but here we are. Binance coin, just on an absolute tear, 307, up 7%, 10% in the last hour. And just as we talked about a couple of days ago, you can stake Binance coin and get like 27%. The devil is in the details. You have to, there's different tiers for what you can actually put in as far as the Binance token. And it starts at like 9%. Then it goes up to 12%, 16%, then finally 27%. But it's really limited in what you can do. And in my opinion, it's just a great marketing ploy to get people to go over there and buy the Binance coin. I just don't see that as sustainable. Let me know what you think in the comment section. But I just don't see 27% sustainable for Binance coin in any way, shape, or form. Tethys, Tethy, nobody really cares. Cardano's so far, so so. Let's just take a look at what the big numbers are. That's what everybody cares about. There was not really too much coming down here, except for Hedera Hashgraph. I know there's another partnership listing that just came about. So watch out for that one, 31%. I don't own that. But it looks like a pretty good project, pretty smart people involved. And then that, you're in finance. Not so much. And then where are we with going up? Kind of funny. Celcius Network has really taken a tumble down at the number 63 spot at 526. My big pick, Voyager, is right beside him at 574. So that's what's happening right there. Swissborg, friend of the show. They're doing really great. I mean, I remember they were just like 73 cents just a couple of weeks ago. Now they're bucked 54. So good for those guys. Chili's is in that top 50 spot. Chili's is a pretty great token. It really hasn't hit my radar so much because it's all about interacting with sports fans and they can do voting for their favorite sports teams on the blockchain. So Chili's, when it gets to America, I think it's going to just absolutely explode over here. And we'll see how it works. It's one of those few ones that actually does that. So watch out for that one. And then of course, our darling other show, Theta Fuel, is up 63% in 24 hours. 63%. Why is that? I'm going to tell you exactly why. But first, let's get into today's top story and see what's going on. So I just want to go over these quickly because these are great stories about what's going on with Bitcoin. But I think the bigger stories are what's going on below Bitcoin. What's going on with Ethereum and Cardano? And we've covered a lot of those things, the EIP 1559 for Ethereum, Cardano, and their decentralized finance play, Goganera, the Mary Hardfork, all things that are coming about with Cardano. But today, we'll just do a quick one about Bitcoin, what's going on there, and then of course the one about Theta. So this was interesting to me because I'm always fascinated to see what smart money or the institutional players are actually doing. And this is a pretty smart move. It was not investing directly into Bitcoin, but the prospects or the mechanics of what's going on behind the scenes. And it's just the same way as like, when there was the gold rush in the 1800s, a lot of people didn't get rich on gold. What they got rich on was selling pickaxes and prospecting gear and food and water and all those things to all those people that had gone west for the California gold rush. And those are the ones that made a lot of money. So when we take a look at this, we can see these smart players, these companies looking at and go, you know what, really not concerned or really pegged to Bitcoin. But if we can get behind these huge companies that are doing these things, we can make a lot of money. And that's exactly what they're doing. So don't be confused. This is what's going on. So Soros Fund, New York Life, Morgan Stanley. So what's happened here? Well, Soros Fund Management, George Soros, New York Life and Morgan Stanley have joined Stone Ridge Holdings, Mass Mutual, FS Investments and Invest and Reventure Partners to Invest in Bitcoin-focused company NYDIG. And, you know, they're just putting their money behind it like, you guys do whatever you want to do, but we'll invest into your company, you do your investments, and then we'll just sit back and take some rewards on top of that and all their fees. So sure. Corey Announcement, a 200 million growth capital round was led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, Mass Mutual, Soros Fund and FS Investments, that's the official announcement. Soros Fund Management is chaired by George Soros, one of the history's most successful finance years. You can say whatever you want to about him in the comment section, I know you will. New York Life Insurance Company is the third largest life insurance company in the US and the largest mutual life insurance company in the country. And the rest of it is just going over the same thing over and over again. So I just found it interesting that, again, these companies are like, we don't want to hold them by Bitcoin per se, but we want to invest in these companies that do it and we'll indirectly profit. And then maybe on, later on the road, they will actually get into it. So don't be confused about what's going on. These are just companies that are playing in the background. On top of this one, $2 billion merger, Bitcoin miner Cypher is going public, which it's a fast one. It's a fast one because of how fast they're actually going public because it's a what they call a SPAC, a special purpose acquisition company. And here's what happening. It's happening. The transaction is expected to close in the second quarter. So it's happening just like this. That's all right. Let me just do everything again. Great. Just when my class starts, fantastic. Let me blow this up real quick. So this acquisition will provide the merge entity with gross cash proceeds of $595 million, which includes $425 million from investors, including Fidelity, Management and Research Company and Morgan Stanley's Counterpoint Global. So again, interesting to say the least that I remember when Morgan Stanley and all these big, large institutions would always talk about the cryptocurrency space as it's just a fad. It's tulip mania. It's not going to last. It's just a bubble. It's always in a bubble, right? We're always in a bubble. Are we in a bubble in stocks? Are we in a bubble in real estate at some point? We're always in a bubble in somewhere shape and form. So when I see these big players getting in, I'm like, just couldn't resist, could you? But it's just true. Time marches on. And when you have these great outcomes coming about as far as the cryptocurrency space, you can see why the bigger companies just cannot avoid it. I mean, when you're looking at these things over the last 10 years, the best performing asset class right now was Bitcoin over the last decade. I mean, with a couple of years there that weren't so hot. But the last decade, you could not beat it as far as like investing in a thing. So these companies just, they just can't ignore it. And I think a lot of their shareholders are probably asking them, why aren't you into this? Anyhow, the Merge company named Cypher Mining is expected to be listed on NASDAQ on a new ticker symbol. It's the IFR. JP Morgan Securities and Wells Fargo Securities are serving as financial advisors on the deal to good workers and Cypher Mining respectively. Again, when you dig into it and take a look at who's behind everything that's going on, you realize that these old institutions cannot resist. The new entity will be established on a industrial scale Bitcoin Mining company. Cypher Mining explained that its goal is to be the leading Bitcoin Mining company in the US. Initially, four data centers are planned in Ohio and Texas. All right, one of the states I live in. And of course, it makes sense because a lot of different companies are coming to Texas because of the reduction in taxes. You see a lot of different companies from California are moving all the way over to Austin, San Antonio, Dallas. We'll see Austin though, but it's just because of taxes. So why wouldn't they open up a cryptocurrency mining place over here in Texas? Not only in the fact that it's cheaper for taxes, but we have a lot of wind and natural gas electricity here. So it's cheap. Why wouldn't you do it? Anyhow, it's US-based data centers are planned to come online between Q4 2021 and Q2 2022, total of just a ton of power when I get into it. So these are the things that are going on, I think, again, they can invest in the cryptocurrencies without investing in the cryptocurrencies. And this is just a gateway investment, honestly. Once they get into this, and then they look at what's going on in the actual market, especially as we start to topple $2 trillion, which is right around the corner, $1.73 trillion, $5 trillion, $8 trillion, $10 trillion, if I dare say it, then they have to get involved and just start buying directly. Anyhow, let me just end the comment section. Let's move on to our last piece. So, Theta token and T-Fuel. What the heck's going on? T-Fuel is sort of 775% in five weeks. Not too bad. If you listen to Digital Dave or Appraisal of Cryptos, he's the one that's been talking about T-Fuel and Theta forever. And he's the reason why I got into it. So, thanks, Dave. I appreciate it. But here's what's going on and why this is going just crazy. So, Theta-Fuel was created when the Theta Mainnet launched in 2019. It's designed to be the operational token of the protocol, powering on-chain operations like sending payments and deploying smart contracts. Now, right now, you can send payments, you can pay your favorites influencer over there on the Theta network. But as far as deploying smart contracts, I mean, it's just, I mean, it can happen. It just hasn't really happened and taken off yet, which is like a lot of things going on right now. Like Cardano has that functionality, but really it's just kind of opening things up. And we're kind of getting into that phase of what this can actually do, the rubber meets the road, right? A significant difference between Theta and other dual token models is holders who stake Theta and Validator and Guardian nodes helps secure the network and earn T-Fuel as a reward. So, just as a little fresher, we did a video over at DanTeachersCrypto.com over on investing, or no, Chapter 5 or Module 5, How Do I? It's called How Do I Stake Theta. It's very easy, you just download this GUI, this graphical user interface download, and then you can just start staking your unused band, not staking, but staking the Theta, or actually now it's going to be T-Fuel later on. And what it does is it allows you to secure the network and then your unused bandwidth they can use and you earn Theta and now you're going to be using T-Fuel. So, that is essentially what it is in this little video up here, and I will link this in the description and say ThetaToken.org. But think about this, and I always talk about this. What are you doing right now? You're watching me. You're watching me on YouTube. What are a lot of people doing these days? Well, they're doing distance learning. They're doing distance meetings through Zoom. That takes a lot of bandwidth. YouTube takes a lot of bandwidth. What is one of the biggest sports that is growing in the world today? It's eSports. So, to stream all those things and just actually watch those things, you're going to need a lot of bandwidth, and that's what Theta does. It allows you to set up a node. They can take your unused bandwidth. They can shoot it around all over the place that has poor bandwidth, like myself in this home in Houston, and you can get paid in Theta and now in T-Fuel. So, it actually works out pretty well. And, of course, this company is backed by like Steve Chan, co-founder of YouTube. You've got the Daldare nodes of Google, Sony, Samsung, Binance, Blockchain, Gummy, Gummy, I always say it. And it's got a lot of big people behind it. It's not competing with YouTube. It's working in conjunction with them. So, I think it's going to be a massive play. And I think Theta is in the top, I know it's in the top 20 right now. So, this thing is really skyrocketed in there. Great. So, where are we? Ah. According to data from Theta Explorer, almost 58% of the one billion available Theta are state-in-the-network. Imagine that. 58% is state. Theta is state. If you take a look at Cardano, you're looking at around 70%, 80% is state-in-the-network. If you look at Ethereum, it's like 4%, 5% is being state. So, let's just do our research on that one. Anyhow, on March 10th, I figured it was slowly increasing as the project attracts more attention. And then to finish up, following the launch of Theta 3.0 on April 21st, April 21st, Theta 3.0, token holders will be able to stake T-Fuel as another way to earn passive income and help secure the network. So, right now, you can only stake the Theta token. And when I got in, you needed, I think it was, yeah, it was 10,000 tokens, then they reduced it down to 1,000 as far as Theta tokens. And now they're going to open it up just to, you can stake T-Fuel, which is great. So, if you like passive income, like I do, this is the easiest way to do these types of things. The upgrade will also introduce a new burning mechanism, is essentially a network fee for using the Theta Edge. So, again, the more that they burn, the more that their supply reduces. If the demand increases, what happens to the price? It goes up. And that's the big thing. But I think the reason why Theta went up so much lately is because of this. There was a hard fork yesterday, March 10th at noon Pacific Standard Time. But it's not a, people always in crypto, they hear a hard fork and they think Bitcoin, Bitcoin Cash, or then whatever. And Bitcoin Cash and Bitcoin SV or however that worked, I forgot. So, usually these days, there isn't too many hard forks where you have two different splits of the chain and you have two different tokens and you get a bunch of, and you get two different tokens. In this one, it's just hard forks are just upgrades. That's essentially all they are. And that's exactly what happens. So I think people heard, they heard a hard fork like, I want to make some money, want to get some Theta and then whatever the new one is. But that's not how it worked. It was the upgrade is focused on improving scaling and staking reward distribution, user wallets and guardian nodes are safe to continue using normally. So that's the big thing. And that's really all it comes down to. So I have to tell you, I got to tell you, I got to tell you. Let me find Theta. Where are we? Theta network, let me blow this up. Theta network is number 15, top 15, went up 24% in 24 hours and we're looking at $7. Man, I remember when this, I remember when Theta was nothing. It was just, you know, one of those weird wacky projects that were out there. So it's the same thing. Just go behind and take a look at, look at the white paper. What does it do? Does it have an actual use? Does it have an actual function? Take a look at the people, the team behind it, the people that are involved and we just took a look at that real quick. And we actually, on DanteDescriptor.com, there's a section called do your own research in one of the modules. And we actually, it was me and Ian Bellina. And we took a look at Theta for the five criteria. And we just kind of laid it all down of, you know, why this was going to be great. This was like six months ago. So go ahead and check the video out. But I think it's going to be big. It's one of the, the holds that I have. And as you know, on this channel, I'm very biased to all the things that I hold and I talk about them a heck of a lot. It's because I hold them and that's just the truth. So look, that is it for today. So first of all, you made all the way in. Thanks so much. I appreciate it. If you liked the video, go ahead and give it a thumbs up. That helps the channel tremendously. Also consider subscribing because a lot of things we talk about are time sensitive, especially with what's going on here. And that is it. So thanks so much for watching. I appreciate it and I'll see you on the next one.