 Great welcome everybody digital asset news. My name is Rob and there's a lot of things to go over. So let's just jump right in We're gonna talk today about the market. Of course the correlation also talk about a $3,000 giveaway. This is not a scam This is actually something you can do right now, and I'll talk about that in a second I'll talk about some Bitcoin great news and some Bitcoin bad news We'll talk about another three hours capital default We're talking about the Celsius recovery plan interview, which will be this Thursday with Simon Dixon So set your calendars that is going to be fireworks and lastly We'll do a quick interview with head of coin ledger talk about tax loss harvesting and also taking profits So we're getting all those things but first let's take a look at the market itself. So today 27th and as you notice the lovely pool background is not here We are still in Houston take care of some rental properties and we'll be back in El Paso Probably two or three days from now. So expect this beautiful background and today not a bad day. Actually, I mean We're down just a little bit, but at least we're not down 20% So I'm feeling pretty good Bitcoin's down and 3% which is odd because it was just down like only like a percentage in like last hour It's a drop two more percent there in 3.5. Everything's down across the board for but let me just do this Is anything up? Tron is up. That's crazy. I saw a tweet that someone said there's like 100 million users for Tron. I'm like, that's kind of you'd be remotely correct, but okay Polygon See, let's see. And of course our market cap is yet again below a trillion dollars. So that's a bomber Let's see if the correlation matches up like it usually does and today a little bit S&P is down point one zero percent NASDAQ is down point four. Remember traditional markets and crypto You know if they see like two three percent That's like the sky is falling and of course three percent. That's just Tuesday afternoon 11. Nobody cares So that's what we have as far as the markets and then also I want to bring this to your attention I cut a deal with unstoppable domains and it was a sweet deal for you not for me Here's what's going on. Yeah, if you Have a blockchain domain or a dot blockchain domain Here's what you got to do to get three thousand dollars gonna pick six winners There's a form you need to fill out mint your dot blockchain domain. That's the first thing Attach your ERC 20 US DC address to the domain submit this form. That's all I got to do Unstoppable domains. Here's the website. This is where you can buy all your different crypto domains dot blockchain crypto that whatever else I got three myself and This is they're just giving away money Now here's the thing. I don't have an affiliate link. So you're gonna just click on Unstoppable domains. There's a link in the description. That's all I got I don't get paid for this or anything else actually they came to me And I said why don't you just give all the money to all the people and that's what they did So if you want some free money, I try to win some this is the way to do it So have fun and that is what is going on in the news so far today. So that's great That's cool. That's exciting But let's get into the big stuff This is what I was happy about and when I saw this As you may know, I have a very unpopular opinion in crypto and that opinion is we need a little regulation just a little clarity Tell me what's the security? Tell me what's the Kamali? Tell me what's the currency and just go from there and I'm gonna harp it on this and Gary Gensler has kind of come back and forth. I mean at one point in some MIT interview Or the class that he teaches he talked about Ethereum Bitcoin may be commodities They talked about Ripple and XRP and then we we talked about Henneman and how he had he had said that you know XRP might be and Ethereum might be it's all over the place, right? It's all over the place So I was excited as ecstatic when Jim Kramer I mean, let's be honest. No one gets ecstatic about Jim Kramer and and Gary on a talking But what he said in the first minute did get me very excited because now we have a little clarity So I'm gonna have you watch this. Let me even in you to actually hear this the right way. Let me share my screen let me share the actual tab and Before I go on Let me mute myself so you can hear this. So this is the great news. I'm super excited I think this is gonna listen to pretty good lands moving forward. So just take a listen to this and Or nation with the CFTC and you about trying to make it so that we have a more clarity, let's say on Cryptocurrency, where where's the state of play crypto right now? This this is a highly speculative asset class. We've known this for a long time the ups and downs of this speculative asset class Bitcoin and hundreds of other tokens and many of these tokens Offer the investing public Or the investing public is hoping I should say hoping for a return just like when they invest in in others Financial assets we cost securities and many of these financial assets crypto financial assets Have the key attributes of the security. So some of them They're under the securities and exchange commission some like Bitcoin and that's the only one Jim. I'm gonna say Because I'm not gonna talk about any one of these tokens, but sure my predecessors and others who said they're they're a commodity Working together. There's two great market regulators in this country. I have the honor to chair the CFTC Terrific agency of the honor now to chair of the securities and exchange commission a little bit different remits a little bit different approaches But working together with the banking regulators as well There's there's work to be done there around what's called stable coins Okay, so then he kind of drones on first my stuff and There is some other good parts to that interview. It's about six minutes long I linked in the description you can find it and he's gonna talk about tether and some other Altcoins, but it's not really anything that is newsworthy my opinion It's just kind of like him himing and hawing going well We'll get there and maybe and we'll see and whatever else, but the big thing is he finally came out and said look commodity Bitcoin CFTC working together. That's fantastic So that I think takes gets a little bit of a breather for these exchanges to ask themselves Do I have to list every single thing as a security as well as Bitcoin as a security? Well, it seems like now they won't have to and fill out the paperwork. However, as time goes on We may see that other cryptos which that let's be honest Some are are actually securities and they're gonna have to be registered by securities And that's gonna be a headache for the exchanges for me and you not so much But for the exchanges gonna be a nightmare. We'll see how that all plays out So that is the good news and I'm really happy about this I'm actually feeling pretty good, which is rare in the crypto days But let's turn our attention to some Concerning news so I can give you the flip side of the same story and not give you too much Hoping to where you think everyone's gonna go to the moon this So this is from crypto quant And you can see here. Where are we here? Maybe I saw this but you can see here That there was 1,500 Bitcoin inflow to Coinbase Pro That's a big chunk of Bitcoin going into an exchange and if you know Usually not all the time but usually when people take it out of Hardware wallets or other type of wallets and they change it and they put it into an exchange Usually what they're doing is they're potentially potentially not that's gonna happen Going to actually sell that Bitcoin That's a lot of Bitcoin as you can see right here this nice big red arrow and green arrow with total influx and this is from M. Everest Analysting says inflow of 4,500 Bitcoin to Coinbase In the spot market for my portfolio more than 10,000 Bitcoin And with high coin days destroyed or cdd this indicates that possibly long-term holders Move their coin For the purpose of selling and that's I'm not saying that they're going to sell just saying that there was a large movement And that's what we have so there's some good news And of course there's a little not so great news and that's what's going on with Bitcoin right now We'll see what all plays out the long run. I think we're gonna do just fine But the question is went and I don't have a crystal ball so I can't tell you anyhow Let me just think about that in the comment section. Let's go on to some again good news bad news So I don't know if you'd call this great news, but we have been following this on the channel for quite some time Three arrows capital seem like everything it touches it gets its tentacles into all these different good companies And before I go on I'll just say Simon you from storm max had a great quote and he's been around for Simon and storm max have been around since 2014 this kid this guy this guy's seen it all And he makes a good point. He goes look Lehman Brothers collapsed And caused a catalyst of companies to fail and an economic meltdown We're seeing a similar thing in crypto right now where many companies were unfortunately victims many great companies been affected And it's sad to see this happen. I gotta agree However, it's not like all these companies Are exonerated and they're totally innocent Some have been doing some pretty goofy things things that if you and I did will be considered quite irresponsible But regardless, here's the information that we have today. So Voyager provides market updates voyager digital has issued a notice to of default to three arrows capital for failure to make the required payments on its previously disclosed loan of 15,250 bitcoin and 350 million usdc not or or and or They gave them 15,250 bitcoin and 350 million usdc Voyager intends to pursue recovery. I either gonna try to soothe the pants off them and get that money back Let's see if they have any money to give back So that's the bad news. I'll be honest with you doesn't look good and what we talked about beforehand We took a look at their filings and we didn't see a lot of collateral in this section And if you know anything about what me and you have to do for crypto Payments or crypto loans. We're gonna give up a heck of a lot of collateral And it didn't look like that's what was done here. Now. I could be wrong. I would love to be wrong Please correct me in the comment section. Please. Please do But here's some good news the platform continues to operate and fulfill customer orders and withdrawals We had talked about this two or three days ago Yeah, actually longer than that That's when I had talked about the rules the rule which you can see underneath my enormous head Where it says rules five things It's all gone never invest more than you can afford to lose Tree everything as a scam and you'll be a lot better meaning a hundred percent of scams until proven otherwise Don't leave anything on exchanges because that's a recipe for disaster Don't use any leverage and of course take profits along the way So when we talked about this we were talking specifically about all these different Lending platforms exchanges and whatever else. I personally don't keep more than 3% of my portfolio on anyone on any one exchange And stick the rest in a ledger. It's just safer that way however Voyager still operating voyager had Uh, approximately before this all happened or goodness happened 137 million cash on hand The company also has access to the previously announced 200 million And usdc revolver and a 15 000 bitcoin. So if we take a look here so Alameda ventures, sam bakeman freed An ftx They gave them a big fat loan, which is nice. It's very nice to have friends like that. I don't I would like to have friends like that They gave him 15 000 bitcoin, which is interesting because they loaned out 15,250 for three eight three hours capital That's not coming back. I don't think Uh, they had 200 million for a loan and 137 million. Let me do some quick math That's 337 million Check me And what they lost was 350 million in usdc and they have a usdc revolver so it looks like They're doing okay for now However, I will say and then people always ask me well rob. Do you trust the voyager? Do you trust voyager? But look I use them Yeah, what's the monday? I use them yesterday Uh, I dollar cost average every week and I buy two things right now. I should I buy three things I buy bitcoin I buy cardano and I buy storm x and there's a re I have reasons behind all those and uh, that's just me you do you but uh, I just used them yesterday and and uh It works fine now remember even though I buy and sell on exchanges. I don't leave a big chunk of my crypto on exchanges And that's the caveat. I think everybody Might want to know again. You can do whatever you want to do. It's up to you I'm not your dad And then I will say this was another interesting point which was Even though voyager is in that that grasp the cusp of what's going on with uh, three arrows capital It's still the number 48 Downloaded app and finance So it's just something to consider now. You may not trust them and say I don't want to use them And that is your prerogative I'm just telling you what uh, these are the things that I see and what I do And lastly, I will say this because I keep getting this question. I need to address this Your cash is fdic insured By Because voyager is not a bank voyager is a broker and they're subsidiary. I think it's metropolitan That is a bank and they hold that money there So for fdic insurance, it's up to 250 000, but it's only for cash. That is not usdc That's not tether. That is not bitcoin. That is not any cryptocurrency. So be aware Of the risk that you have in each different section Anyhow, let me just think about that in the comment section. Let's finish this up with two snippets This one The celsius recovery plan interview is going to be this Thursday So We've been talking about this for a while. Uh, simon dixon This guy right here a matter of fact simon dixon uh bank to the future Uh, launch bank the future 2010 og uh, crypto investor, you know Invested into some some small companies like coinbase and crack and jem and i believe and stuff like that bitfinex And uh, his company's pretty large and they are talking about a uh, celsius recovery plan they've been Apparently talking to celsius and talking to their lawyers and getting everything together and i've been shooting Messages back and forth with simon and his team. They are going to come on thursday Have it nailed down the time But all your questions you can put the questions in the comments. We'll take it from there You can put your questions. Uh, you can follow me at news asset. I will link this thread. You can ask them there And uh, we will get to the bottom of what they are trying to do the big question that i i of course I'm getting is one are people going to be able to actually withdraw withdraw their crypto funds and two How close are they to actually doing some type of recovery plan deal? And what exactly is going on behind the scenes those questions should be answered on thursday, so Uh, i'll get you as much information as I possibly can and then lastly to finish this up I did a quick interview. Uh, this is with um ryan over at uh ceo Cfo of of coin ledger coin ledger Is the company that does crypto taxes. I know that sounds boring. No one likes to talk about taxes. I get it But they have got a pretty good, uh Integration which is free right now. It's free. You can go to it use it right now. It's free. It's free. It's free Everybody calm down. It's free You can go over there and you can uh integrate and check for tax loss harvesting You can check for Uh to take now for profits and how much you're up or how much you're down Or just things to actually help you track your portfolio again. It's free Now if you want to do the tax type things that will cost you if you want to do taxes But taxes aren't coming around for quite some time. So this is a good time to talk about laying Down the track to get everything in line because right now in a bear market This is the time when you build you get everything together you get your ducks in a row And then when the bull market comes you're able to actually Participate and actually get things done. So I invited uh david on Brian david on to talk about uh coin ledger So let me share that with you right now Let me see Bup, bup, bup And here it is. It's about 10 minutes after we're done here. We'll do the q&a. I'll answer all your burning questions The best of my ability. So off we go Everybody so as promised I brought someone here who who could definitely help us out I know as time goes on we're going to see a lot of uh turbulence in the market So it's important that we start to lay down that rail now and get things prepared So we have a plan in place. So david thanks so much for stopping by again Yes, thank you for having me, uh, rob. It's always a pleasure to jump on to digital asset news I actually watch your channel all the time. So it keeps me up to date Yeah, I think I see in the live chats every so often. So I appreciate it. So yeah, so today There's uh, of course, we talk about the rules and the last rule is take profits And again, what I want to try to do is just to give people a little bit of ammunition as they go out Into this this bearish market essentially maybe at some point turning into a bullish market So this is why I've got you here. So david walk us through how this works With coin ledger and right now you can sign up for coin ledger. It's free to use this service to track everything Of course, you want to do taxes. There's a link in the description, but that's now we're here today We're talking about something totally different. So david help us out walk us through this stuff Yeah, I do just want to walk through and thanks for bringing me on because like you and I were chatting through before You know, no one likes the downturns in the markets, right? My portfolio is down your portfolio is down But there is opportunity to understand You know, if you're in lost positions, you can pretty significantly reduce your tax liability For the year, especially if you have other types of capital gains, you know, we walk through the example Like if you sold your house or if you sold some equities for profits You know, that's where tax loss harvesting comes in But you know coin ledger is a platform really to help you track You know your assets across all of your wallets bring it all that data into a single kind of unit of record And then you can analyze, you know, where am I up? Where am I down? And most importantly, how can I save money in taxes? So you can see here. I'm in you know, this coin ledger account This user has connected up coinbase coinbase pro a metamask wallet It's pretty pretty simple, right? Just add accounts For example, if you're using metamask or any type of ethereum wallet Or custodial thing, you know, just paste in the public address And then coin ledger can pull in and categorize all of that transaction history Based on the smart contracts that that wallet interacted with so you can see here You know based on interacting with uniswap Based on just pulling it in and out of various places Track everything bring in all of your accounts across all of c5 d5 But then of course the real magic happens when all that data for the first time is all together, right? When you're in your exchange accounts, it's just right your coinbase transactions But you know here we're pulling in everything and we can see you know, let's filter by trades Let's look at my capital gains losses that i've realized throughout the year Based in my home fiat currency again, so like this trade i'm at you know a five dollar loss But i'm bringing in all of that data i can sip through it manipulate it And then here's the real magic right once i go to my tax reports dashboard I go to our tax loss harvesting tab what this is doing it's pulling all of my Current cost basis for all of my assets Then it's pulling okay What's the current market value of these assets? And as it loads and then it'll show oh, what are my unrealized losses? Across all of my holdings across all of my wallets So this is very powerful why because for example right this user Has a bunch of holdings in grt token that their basis is almost nine thousand dollars But that's trading today at about eight hundred bucks And so if they trade it out or disposed of this position They could book you know almost you know around eight thousand dollars of capital losses Which you know could save them almost two grand on their taxes if they could you know if they had capital gains to offset that with And even it does offset to ordinary income. So Yeah, you know that that's really the opportunity again in these down markets No one likes them, but you can drastically reduce your tax exposure by Trading or just trading out of these positions and then coming back into them So david so talk to us about that because I think when some people hear this like well I don't want to take losses now because it's going to come back So how do we take losses just for tax reasons? Right, so this is something that it's not Always going to be black or white because you don't you may not want to reset your holding period Right, so if you've only been holding your assets for three months six months Maybe you want to keep holding to get that long terms capital gains treatment, right? But let's say you've been holding for years Um, and you do want to realize some of these losses You can sell today and buy back into the exact same position shortly after something known as Wash sale rules which applies to equities, you know, which Doesn't allow you to buy back into a stock that you traded within 30 days Otherwise you wash out the gain or loss that was realized That actually does not apply to cryptocurrencies right now Because the iris does not define cryptocurrencies as securities right now explicitly calls them property And property is not subject to that rule that could change in the future But new legislation will have to pass for that to change So there is this i'm not going to call it loophole, but opportunity with digital assets today Where you can sell your lost positions today Buy them back shortly after and realize all of these capital losses and drastically reduce your tax exposure Yeah, and this is all goes to planning if we if we have a plan of attack, then we're okay those who Failed the plan are planning to fail right? So I think that is that is the exact same Process I use when I sold all my xrp. I sold all my xrp because I was at a big loss And then I guess what bought it all back or bought a big chunk of it back We'll say and that helped out with my taxes and then before we move on There's going to be a question people are going to be a little bit scared about which is well when I connect this to my exchanges You know are you going to ask me for my private keys? Do I do I get you know I give you these keys? Is it is it just an api integration? How safe is it and how much does it work because that's the big thing I get is well I don't want to you know set everything up and have all my crypto gone because hey scams, right Totally totally so the great thing about coin ledger is we Couldn't even do anything We only use read access So if you read through kind of our import guides, all you're doing is granting us read access to your account meaning we can Read in your trading history, but we have no ability to move funds trade on your behalf And you can configure these settings when you set up these connections within your exchanges So it's kind of like the phrase like you know don't be evil, but we can't be evil right even if You know whatever happened. We have no ability to move your funds So it is extremely safe and if you really don't want to connect via api, which is an automatic connection You can just upload a transaction history file from your exchange as well to bring in that data and to analyze it Um, so so that is what I say we of course get that question a lot too The other thing is you know coin ledgers trusted by you know hundreds of thousands of crypto investors But it's a great question Yeah, I've been using for two years very easy The time that I actually set it up get everything going send it over to my uh cpa takes 30 minutes That's why I've been using guys for two years because I like I got a lot of things to do and I like things simplified And then you know, could you do me a favor david? So the big question I get is You know, when should I take profits? I can't tell people to take profits. I'm not a financial analyst or financial advisor But can you go through that real quick and show us like in this dummy account? Like when someone would look at that and go, oh, there's an opportunity to take a profit potentially and go from there So any your position? Okay Yeah, so right now we're actually building a lot more tooling around. I'm going to call it core portfolio tracking So when to take profits that's of course going to depend on What you know xyz user what gains they want to realize? But we have a lot more features coming that's going to be more along that line of Hey, we have a lot of stuff for like your losses and how to save you taxes But what about you know, um taking profits so a lot more of that to come Okay, so like if we want because I saw like over there on the last one There was like a little section where it said plus plus $30 or plus this or plus that Can we take a look at that real quick on the review? Would that be something we could see like right here? Like if I just wanted to like just just do a quick glance and go, okay Well, here's what I got a coin base. Here's what we're up instead of going through every single one and going. Oh, okay This is what it is Okay, yeah, like the the best the best way would actually probably take a look at your end of your positions report And that's going to explain to you how much basis you have left in all of your assets Um, and you can you can manipulate these as well deeper in excel and whatnot But what is coming to the review tab is the ability to deeper see okay? What is my bitcoin holding on coin base, right? We can show you You know all your moves right now, but we really are moving more into all those things that you're hitting on deeper Perfect and then talk to us real quick. I know this is only on desktop For your computer pc and mac, but what about for mobile any plans moving forward? Yes Yes, so super exciting plans in mobile in the future Um, we are going to bring coin ledger to You know an app on your phone right now. This can be accessed You know through your web browser whether that's on your phone or on your computer But we are going to be moving into a mobile based app So just you know clicking into the app on your phone You can monitor your positions your holdings across all of your again wallets and be alerted to real-time tax savings Tax loss harvesting opportunities So we have a lot of work cut out for us, but we've been going now for four years and we're not slowing down Yeah, sounds good. So remember everybody So there's a link in the description you can check it out And of course this this service that we're talking about right now is free now for The taxes moving into later in the year that is a paid service But I want to bring it to your attention again Because of just to get the plan out to make sure that you are aware of where you're at And of course we talked about the profits and tax loss harvesting all those different things So David anything else that we got to talk about or we cover most of what we want to say today No, I think that's good. I think it's good to Keep it a little concise As new things come out, I'll keep you and the community in the loop But a lot of stuff on the horizon Excellent. All right. So David, thanks so much. We appreciate it and let's jump back Great. So I hope that helps I mean, I get this question a lot and maybe just taking a look at the data You can say, okay, well, this looks like I'm in profit here for the The specific trade that I did back three months ago and where we're at right now Maybe I'm in profit or maybe I want to take a sell or maybe I want to do some tax loss harvesting It's all up to you and this is just the data platform that you can Potentially use that to move forward and that essentially will will be yet ready. So as For for today's video. So let me just say thanks so much for stopping by I do appreciate it. If you like today's video, give it a thumbs up. Give it a like all that good stuff