 Welcome to Digital Asset News, the top stories in cryptocurrency and digital assets, and a big amount of bite-sized pieces. So today we've got some more great news from the Fed as they're going to keep the rates, the interest rates near zero, treasury purchases to continue, and Jerome Powell there expects transitory inflation. So this is actually not great news for Bitcoin, but in the long run, it really doesn't matter. And on top of that, we're going to take a look at another billion-dollar company that is purchasing Bitcoin at an alarming rate. And finally, we'll end it all off with something that is going on with Cardano as the blockchain infrastructure is going to bring internet to countries in Africa. So we'll take a look at those three projects, stories on what's going on. But first, let's go on the market. So today it is the 29th, I think it is, yeah, about 1 p.m. junk dead day. Cold, that's why I'm wearing this super fancy jacket. And here it's going on with the market. So we've gone down a little bit, we're at 2.05 trillion. So I think a little bit of the message there from Jerome Powell from the Fed as they say, hey, we're going to keep the rates the same and no big deal. But there's some concerning underlying tones beyond that. And we'll go over that real quick. But Bitcoin price $53,000, daily sentiment is neutral, not a big deal. Let's take a look and see if there's anything fantastic going on as far as price action. So let's see, one hour, a little bit of recovery because that story broke late last night. So a little bit in the green, a little bit in the red, nothing fantastic. So no big deal. Let's see, I think 24 hours now. Pancake swap, 30%. Congratulations. Anything good? 12% for who will be talking? Great. All right, before I put everybody to sleep, let's just break down into what's going on here. So this was a great article and from Jamie Redmond. And it really breaks down a lot of different things that are going on in the economy. And we're going to go through all these stories are going to intermingle and intertwine. It's going to make a lot of sense in just a bit, but just hang with me to the end. And it's going to be, I think it's going to be pretty eye-opening. So what's going on here? Well, the US Federal Reserve told the public that monetary easing, money printing, will continue and the benchmark interest rate will be kept near zero, which is kind of a funny thing because Joe Biden just came out a couple of days ago and like, hey, I'm going to invest $80 billion into the IRS so they can crack down on all these people who are scamming us and not paying their fair share. Also, we're going to increase the capital gains tax from 20 to 39.6%. I'm like, why don't you just keep printing my money? That seems to work for everything. I don't know what the problem is. I mean, I'm just kidding. You can't do that forever, but it just seems like, you know, hey, helicopter money. Let's just keep printing. Anyhow, the Federal Reserve, however, has some indicators that economic activity and employment have strengthened, which is, there is some truth that there has been some strengthening, as far as like employment, people are getting their jobs back after the pandemic. I don't want to debate if it is or not. I don't care. The numbers are the numbers. Okay. People are getting their jobs back. Great. So, but the real thing is that, I mean, are we really getting back as far as strength, or are we just kind of just getting back to where at ground zero? And then, you know, how much has really grown? I don't really think it's been that much. And it really kind of makes you think like, well, if they're saying that there's a lot of growth and the GDP is strong and everything else, but how strong really is it? And it states here, the sectors, this is from Jerome Powell there. The sectors most adversely affected by the pandemic remain weak, but have shown improvement. Inflation has risen, largely affecting transitory factors. And they're not really concerned about the inflation. They're kind of like, well, we'll just keep it around, you know, zero or 2%. And if it goes up later, that goes up. And that's pretty much what we're doing here. But this is the interesting part. And this is why this is such a good article, because it goes, you know, a couple layers deep beyond that. And this is the part that really concerns me. Investigative journalist Pamyn Russ Martins from Wall Street on Parade published evidence against the Fed misleading the public when it comes to the Wall Street mega banks, so-called strength. The Martins say that the scheme the Fed has been pulling in 2020 and 2021 is the same as the horror show, mega banks pulled in 2008 or 2008. So if you don't remember, if you're too young, there was a huge economic collapse pretty much globally, because the banking situation and the banks loaning out way more money than they possibly could, junk bonds and everything else. And the housing market just took a big dive and a dump. And in the whole time that was happening, the banks were saying, we are strong, we are good, nothing to worry about, nothing to see here. This is what's going on, you know, just pay attention to this hand. And the other hand was just flailing and flapping in the wind. So we always hear these stories, especially on YouTube, like, oh, it's going to happen tomorrow. The economic collapse, the economic collapse. And it kind of gets like the boy that cried wolf. You're like, I've heard that stupid story so many times. I don't believe you until it actually happened. So when you see something like this, you kind of got to think to yourself, okay, I mean, in 2007, that was a big one. Is that the time? I'm not going to say it is. I'm just saying that it is kind of concerning because I look around and I'm like, are we really that strong? And take a look at all the small businesses. In your city right now, take a look at any of the strip malls that you go by. How many of those are closed or it is open for rent? Because people are shutting down. It just kind of makes me a little bit nervous. That's all. Anyhow, what caused the Wall Street Bank stocks to tank so much worse in the broader market in March is the same thing that caused the banks to tank much worse in the broader market in 2008. Interconnectivity via derivatives and leverage. The Martin's data shows that JPMorgan Chase, our buddies, Goldman Sachs, Bank of America, and Morgan Stanley saw heavy losses from the start of 2020 upwards of 40 to 50 percent. City Group, 56 percent. And that was as of March 23rd. These five banks are highly interconnected via derivatives because they have exposure to the same counter parties. And then to finish up, the U.S. Central Bank's FOMC Press Release further revealed that the bond purchasing will continue alongside the near 0 percent benchmark interest rates further that is sticking to the typical 2 percent inflation mark as it's hard to watch closely in banks. Remember what we just talked about right there as far as the banks, everything that's going on? I want you to remember that part about the banks and how they're just like everything's strong and everything's good as we transition into other parts of these stories in the other three. And it all makes sense in a second. This article was actually revealed to me by Nick Mancini. He is one of the TTC ambassadors over there. And TTC, Trade the Chain, is the actual platform that I use every single day to take a look at sentiment everything else. And what I like about them, of course, got a great community. And Nick, I want to say thanks for leading me on this story because he's like, this didn't get any coverage and press. Why? I don't know. Thanks for letting me know. So this was a medium post by Owen Mahoney. Mahoney? Who is? Where is he? Well, he's the CEO of Nexon. And Nexon, I know why it isn't, because I've got to expand it. So Nexon, Nexon is all about virtual worlds, gaming platforms, everything else. And they are a multi-billion dollar company. And I think they're on the, I can never see this right, NIKK, NIKEI markets where they're one of the big industries that are actually in there. So Owen here, CEO says, today we announced that Nexon has purchased 100 million of Bitcoins, approximately 1,700 Bitcoins in total, an average price of $58,226. So look, if you think that maybe we've reached a peak of Bitcoin, there's some really smart people in the place going, you know what, we'll buy it, no problem. So when people talk about the bull runs over, the bull run, me personally, an offensive vice, I don't think we're close to being over. I think the fireworks are really about to start coming up. Nexon leverages its capital. This is what they're talking about, what they do. Nexon leverages the capital to generate profits and growth on behalf of its owners on top of all the virtual worlds and different gaming platforms they have. In Nexon's case, we have few tangible assets, no factories, very little real estate, but significant intangible assets, such as some of the largest intellectual property, franchises of all time, sophisticated tech for building and managing our virtual worlds. And we hold significant financial assets. Isn't that weird to think about? Virtual worlds, who would have thought about that? And they're actually getting this in a little bit, but who would have thought it would have been a billion dollar industry, right? I mean, you were laughed at 20 years ago. Nexon holds more than 5 billion of cash and cash equivalents primarily in the form of Japanese yen, US dollars, and the South Korean won. These holdings generate almost no return. That's true. How many of you guys are cash heavy and crypto poor? Very few. But all my friends are the exact, that's what they are. They're cash heavy and crypto poor, like, well, we'll get into a little bit. Me personally, my bank account is, it's actually risen a little bit. I've gotten out to not purchasing as much as I have, but I'm going to get in pretty heavy after I show you this next article. So, and they say even junk bonds, which carry higher risk and were formerly known as high yield, have become a source of rewardless risk for all the risks that you have. You don't get too much of it as far as an interest. They state, we see Bitcoin as a form of cash likely to retain its value. For now, our commitment to Bitcoin is 100 million, which is less than 2% of our total cash, which is pretty low. So I guess they're just dipping their toes, but 100 million is pretty good. We consider Bitcoin as a form of cash alongside US dollars, Japanese yen, and Korean won, even though they say it is slightly unstable. And this is what I was talking about. 25 years ago, the idea of an entertainment world centered around online connected virtual world seemed crazy. And it did, and it kind of still does. I mean, in my, because I'm old. So I'm like, I don't really get it too much, but I mean, I get it now. But I mean, 25 years ago, you've been laughed at. In those days, reasonable people asked the question, why would anyone pay for a purely virtual in game item? Today, the idea is mainstream and almost every entertainment company has it, or they're trying to get into it. And that's the big thing. So when we talk about these different technologies that are really taken shape and where the world, not where the world is, but where the world is going, you can kind of see yourself like, okay, well, that makes a lot of sense because I see these virtual worlds and these games, these intangible assets that can really generate. I can see things like all the different non-fungible tokens or NFTs could really play a big part, especially if you're invested into engine coin, those types of things. It does make sense. And if you take a look at it, well, why wouldn't we start to get away from the banking sector because that is an old world type of thinking and what they do and how they actually do things into a blockchain world, just like how everything has migrated from something that is inefficient and is too costly. Banks are one of those things. Take a look at all the different technology. Like everybody say, take a look at the streaming services, take a look at newspapers, from what they want from newspapers to everything else. Take a look at computers and hard drives and everything. The things that actually bring us forward into productivity and lower costs are the things that actually win. So do you think that blockchain technology, the Bitcoins, the Ethereum, the Cardinals of the world can actually increase productivity and decrease costs? That's one of those things you've got to think about. And maybe this will make a little bit more sense. So I'm going to do another video today because this article is rich with a lot of information. I can't cover it here. I also have a 30-minute video. I'm not going to do that. But there is one piece I want to make mention. Actually, let me blow it up so you can see what I'm talking about here. So this is all about Voyager and how they're growing and growing pains and everything else. But this was this one sentence, these couple sentences, is what really made me think about how banks are being a blockbuster. And it says, why does this matter? Why would customers leave these industries talking about the banking center and centralized finance for a company like Voyager? And it says, Voyager is launching a debit card that will allow you to earn 9% interest on USDC up until you swipe the card. So when you think about that, you're like, hmm. I know that other platforms that actually do that right now, I think crypto.com, something like that where you top it up, whatever else. But if you can have USDC, a stablecoin, in your Voyager account, and you have a debit card and it goes right from there, why do you use a bank? Why would you use a bank? And then if you could transfer it to anybody, because have you ever done just a wire transfer? First of all, it's 20 bucks, or 30 bucks depending on the bank. And then it could take up to three to five days, depending if you are old to the bank or new to the bank or wherever you're sending it to. So why would you just do this? And then the real question is, why wouldn't banks do the same thing? Well, they can't, because they're too bloated and inefficient and talks about this in the article. So I will get to that part, but I wanted just to briefly scan over that before we get to the big, which I think is the big article. And I'm actually flabbergasted as to what is going on right now. Cardano is doing their African Conference special they have going on our IOHK. You can check the YouTube channel. I'll actually link in the description. So yesterday we talked about they were actually putting forth for the ID, the blockchain ID run by Atlas or their project Atlas. And it will be able to give people a digital ID so they can access a lot of different things, such as, well, first of all was education. The second of all was healthcare. And then the third would be actually financial. And now they've come out and said, hey, Cardano blockchain infrastructure selected a new drive to bring sustainable internet connectivity to Zanzibar and Tanzania. Or Tanzania. I always say it wrong. Doesn't matter. I don't want to hear in the comments. That's the only time to say. So why is this a big deal? I'll get to this second. According to the partnership agreement, the Cardano blockchain infrastructure will use provide affordable network nodes to local business owners. Subscribers will be able to access the IOHK identity solution at Tala Prism. The identity solution will allow them to use services such as digital banking, healthcare and education. All fails all in one swoop. And it's just like it's going to be easy to implement because they're going to leapfrog everything because they don't even have that infrastructure in place. I'll get to that. So the CEO of World Mobile Chain, Nikki Watkins, said his belief is that World Mobile symbiotic partnership with I input output will open a new world. Well, first of all, World Mobile Chain, what they're doing is they're giving mobile, digital mobile service to people on the blockchain. So they actually, all the people that are left out, they can't get mobile phones. They can't get a connection to the people that they should have connections to. This is what they do. And they also have a digital ID. Now they're going to partner up with Cardano to, I guess, supercharge and make it even better. So as part of the agreement, input output now owns a 10% equity stake in World Mobile Group. Sounds good to me. And the reasons for the partnership is this. More than 700 million people in Africa are not connected to the internet. This states of affairs is blamed on the mobile network operators failure to invest adequately in infrastructure. This lack of investment in turn leads to the exclusion of Africans from accessing basic services such as education, banking, and healthcare. So that's what they got. And this is what Haas is going to say. And it all kind of sums it all up. The lack of deeply embedded legacy infrastructure makes the transition to blockchain-based infrastructure a relatively low friction process with the potential for developing countries to leapfrog advanced industrialized economies by adopting next generation infrastructure or really technology. And here's the thing. So it all kind of comes into place. So if you think about who's been the world leaders from the 1800s till now. Well, the 1800s, we had the agricultural revolution. Right? So you had China and India and some other countries. They really just said, okay, well, they came forth and they had a bunch of different little tools they could use and they could actually mass produce agriculture. And it would feed a ton of people and they were like the dominant players, right? And then in the early, that was in the 1700s, excuse me, in the 1800s, you had the First Industrial Revolution and that was by the UK. That was by Great Britain. And what they did was they put together and they go, hey, we're going to make these machines, these steam engines. They're going to make small machinery to really increase productivity. And it'll drop the cost. So if you can do those two things, you'd become a dominant factor and that's why Great Britain dominated a lot of the world in the 1700s, going into the 1800s. Sorry, the 1800s. So they did all this. Then you had the Second Industrial Revolution. That's when much larger machinery was being built and you'd see places like the United States start to really become a dominating force. And that was in the 1900s. So you had these huge, complex industries being built and machinery. And again, what would it do? Well, it would increase productivity and it would reduce costs. So instead of needing 1,000 people to do something, you just needed a couple just to work the machinery. And then moving forward into late 1900s, 1970s, 80s, 90s, you had the Computer Revolution, another Industrial Revolution. And what did it do? What did computers do? The same thing. It dropped the cost and it increased the productivity. We can do so much with these computers right in front of us that we couldn't do before and the ones that led the way, Japan, parts of China, China, parts of China, and the United States and debatable other places. So the U.S. still has this reining factor, but what's going to happen moving forward into 2030, 2040, 2050? Actually, I mean, in a couple of years, things are moving so fast. I think that the people that's or the groups or the countries that can really develop AI, artificial intelligence, and they can really get a grasp of blockchain technology to cut out middlemen to decrease costs and increase productivity are the ones that will make everything work and they become the next dominating factor. So when I see Cardano working with Africa and what Charles just said about leapfrogging advanced industrial economies because they don't, that's all they're going to know. Why couldn't they just get in front of us? Do you see the banks, how bad they are and how they're really just kind of limiting things? This is why when people talk about ah, but the America, America's going to definitely they're going to ban cryptocurrency assets. They can try it and they can shut down exchanges, but that would be the dumbest move and of course we would just lose the foothold moving forward. So these are just my thoughts and not financial advice, but I'm glad I have a pretty big stake in Cardano. All right, so that's it for today's video. I know it's a little bit long. That's why I didn't put the other article in because it was way too much. If you found value in the video, give it a thumbs up. Also consider subscribing. Nothing to talk about our time sense and all that stuff. And that's it for today. So thanks for sticking with me. I appreciate it. And I'll see you on the next one.