 Welcome to Jalassette News to get top stories in crypto and break them down to bite-sized pieces. Today just the thumbnail suggests smart banks are going to start allowing their customers to buying bitcoin and cryptocurrency and all honestly they really have no choice. We're going to take a look at why they have no choice and what's going on. We'll also take a look at how central bank digital coins or CBDCs are just not going to make it. Then we're going to talk about crypto regulations and if they're close I can tell you only if they actually are. And lastly we'll talk about a video that we did over on Dan Clips about the play-to-earn game DeFi Marvel Avogaci. So we'll go over all those things but first let's take a look at what's going on in the market. Actually but first let's talk about the horrible tornado that happened in Kentucky. As you know this channel is going to donate the revenue from the YouTube videos and part of its stake pool at DNews for Cardano and also part of the stake pool for Avalanche to go help those fund efforts. Before you make any type of charity donation just make sure you're sending it to the right place and it's actually a place that actually does what it says it's going to do. So here's a great place to start. I'll link this in the description below. This is from the New York Times and it just talks about how these are the places that you should look at as far as if you're going to donate and how you do it. Limited articles get past that. But we'll take a look at all those things. That's what I'm going to be doing. It's up to you. Links in the description. So first of all let's take a look what's going on into the market. So today's not a great day. It's Monday and a beautiful day here in Puerto Rico. But not a great day for the actual market itself. So real quick we've got Bitcoin below 48,000, 47 something. And this I put this video together. I thought ah this shouldn't be too many things going on. It wasn't really exciting. Then all of a sudden once we tip past the opening bell for the traditional market it seemed like everything just took a big dump. And here we are in the last hour. We're down a percentage point. In 24 hours down 4% for Bitcoin. And then 7% for Solana. Two almost 3% in an hour. Everything's down. Down, down, down, down, down, down. Why? Why is it down? Well there could be reasons in the crypto market. Or if we just take a look at what's going on in the traditional space. Here's what you got. S&P 500 is down 0.37. Again the traditional market places. You know 1% is like the end all be all awful day. And in crypto it's like we just sneeze at that. NASDAQ down. Dow 30. Russell's down. US dollar index. Surprisingly up. Look at that. US dollar very strong. For the fact that we're printing it into oblivion. Then Bitcoin index down. And then people always ask me well who cares about traditional market? But you have to understand the traditional players are in our space. And when things start to go sideways and they're part of the world. They're like I got to sell off something. They don't believe in crypto like we do. So they sell off crypto like no big deal. And they pay off all their different debts and whatever else. Like whew great. But what they don't realize is that this really is the future. They're just tourists. We've been here for a long time. So that's what's going on in the markets. Let's take a look at today's top story which I think it is. Which is banks have no choice. And I'm not picking on banks. I have no problems with banks. I have no problem with the people that work in the banks. Very great people. But the banks themselves. You won't talk about central banks. Okay. We can have a debate but when we take a look at stories like this, this makes me happy. And the question is well why don't they have a choice? We'll get to that in a second. Let's just talk about this one. So savings bank wants to enable their customers to trade Bitcoin. So this is according to capital research. The financial institutions are preparing a service with which their customers could train Bitcoin as early as 2022. A dedicated team. Well, this is from the German Savings Bank. They're working on a crypto project that will enable them to trade digital currencies. A dedicated team, an IT service provider, S-Payment is preparing the concept. The spark case. I'm pretty sure I did not say that right. But those are the group of saving banks. And this is the committee. Still have to vote on the project if there is a green light. A first version of the so-called wallet could be launched later this year. Do not let them fool you. This is going to go out. This is going to happen. I'll tell you a second. So with around 50 million customers, the Savings Bank are the market leaders among German financial institutions. The Savings Bank's Kundin could buy directly from their checking accounts. The cryptocurrencies, according to their plans, a corresponding pilot project should start first with individual savings. And in the end, each of the around 370 institutes independently decides whether to introduce crypto trading or not. And this is a funny thing, because we've been hearing about BankStory and OfferIt. We took a look at NYDIG and what they were doing as far as working with smaller to medium-sized banks and credit unions. And really enabling that process to happen. I know people right now are saying, again, who cares about the banks, Rob? We don't need the banks. I mean, we don't. Honestly, we really don't. But you have to understand, people are going through a transition and some people just don't get it yet. So if we have to trojan horse them to getting into going, look, if you don't really trust crypto and digital assets, why don't you just go over here to your bank because they're going to allow you to custody some Bitcoin, maybe some Ethereum, maybe some Solon and Cardano, all that good stuff. Just go over there to go check that out. No big deal. Very safe. Put a little bit in. Not a big deal. And then they can say, okay, because I don't really understand crypto, but I'll just go to the banks. I trust them. And then later on, when they're like, wow, look at that, the money in my bank went up a whopping .02% this year. And then the Bitcoin that I put in went up 100%. Maybe I should do some more research. Before you know it, they really understand what's going on with crypto and digital assets. And that's why I talk about like, this is kind of like the Trojan horse. And when I say that the banks really have no choice, it's because they're losing foot traffic. They've closed a massive amount of their physical stores. They still have online, but you have to understand that's just lost revenue. And then if they take a real hard look at what's going on around them and just say, well, how is this crypto doing? Well, if you take a look at one of the top crypto exchanges in the US, I don't know if it's global, I think Binance is still crushing them. This was the S1 registration form for the SEC for Coinbase. And if you scroll down, and you can read this, it's super boring. I didn't read the whole thing myself. But if you just go down here to where it says this, this is my favorite part, since inception through December 31st, we, meaning Coinbase, generate over $3.4 billion in total revenue. How do we do it? Largely from transaction fees that we earn from volume-based trades on our platform by retail users and institutions. So if you're a bank and you're like, man, we really need to figure out a way to generate some revenue, how could we possibly do that? Seems like people like crypto, maybe we'll get into that. Yeah, it might spread a little bit, but hey, who cares? And then I just think that they're really, it just makes sense to me, like, if you, I mean, people will say, ah, well, it's not going to work out because of central banks and everything else, they don't have a choice. It's here, like James says, invest answers and jeans are the bottle. So let me know what you think about that in the comment section. Lastly, I'll wrap up with this part right here, which is, this is pretty funny, the same group, Sparkcase makes sparks fly through its denial of Bitcoin transactions. So I want you to keep in mind, this was seven years ago, German bank Sparkase has made the decision to block all Bitcoin related transfers. Brian Selen, who works with the Anycoin Directcoin Exchange in the Netherlands, has commented that the company is now unable to process any incoming or outgoing Bitcoin orders. He states, we're running an honest company, but the bank just blocks transactions without contacting us, so the customer very frustrating. This is exactly why we need Bitcoin. The bank abuses its power without any good reason or explanation. Well, now they've got a great reason because they're going to enable it because, just like we talked about, there's money in those heels. So let me know what you think about that in the comment section. That kind of leads me off into my next piece because people are like, well, you know, the banks, they're not going to do anything because we're going to get with these central bank digital currencies or digital coins. And that's what the CBDs are going to be made. And then all the banks would just use that and transact, not so fast. So with this one, I thought it was interesting that UK Intelligence Chief raises concerns about use of the digital renminbi that is from the digital yuan to control global transactions. So this is what's going on. This is what I think is going to happen and ripple through all the different governments. So the chief of the government communications HQ, one of the biggest intelligence agencies in the UK, has warned of possible negative effects on global transactions on the adoption of the digital renminbi. He states, if wrongly implemented, it gives a hostile state the ability to surveil transactions. It gives them, China, the ability to be able to exercise control over what is conducted on those digital currencies. So first of all, people in China are going to, they're having a hard time convincing them to use the digital yuan, digital renminbi. They just are. And this is these reports that I see. I haven't been to China. This is what I hear. If you're from China, sound off in the comment section. These are just the things that I hear. So they're having problems there because they don't want to be tracked. And of course, they're in a communist country, but you know, that's what they have going on over there. And then of course, in other countries are like, we don't want to use this. Why would we want to use this? And then of course, we have something like that. And then the next story is simply put Russia to allow foreign residents to own and use the digital ruble. The central bank of Russia intends to ensure that the digital ruble is convertible to foreign transactions or currencies and can be used by non-residents. First of all, who wants to use that? I can guarantee nobody in America is going to use the digital ruble, not withstanding any of the parts in the world. Maybe they will, which leads me to my last point. We're talking about how CBDCs are not going to make it. US senators asked Team USA to boycott China's digital yuan at the 2022 Olympics. That's the whole story. So look, it comes out of this. CBDCs, that's why decentralization is trustless because we don't need a middle person to create something to be able to use it for a transaction. That's why Bitcoin and certain crypto digital assets are perfect. When we use CBDCs, I'm not going to use the digital ruble. I'm definitely not going to use a digital yuan, digital renminbi. I'm not going to use any of them. And because we don't trust each other, the CBDCs, I think they're DOA. I just don't think it's going to happen. Let me know what you think about that in the comment section, but I think it'll be very limited to what is being used maybe throughout the country, but as far as like international commerce and actually paying things, who wants their governments buying on them? Let me know what you think about that in the comment section. That leads us to our next story, crypto regulations and where they're going and are they close? I don't think so. So this was a story. Analyst expects US to embrace crypto with proper regulations in 2022 and see a refreshed Bitcoin bull market. Analyst, Mike McGlone. This is interesting. With Bloomberg intelligence that shared his outlook for the crypto going forward, he states, we expect the US to embrace crypto in 2022. This is from Bloomberg intelligence. With proper regulation and related bullish price implications, Bitcoin appears to be on a trajectory for a hundred grand. The analysts said that we are likely to see a paused, yet corrected and refreshed bull market. I'm going to call bull on that one because, first of all, if you watched any of the videos from the like last week, he had Brian Brooks from the OCC. He had given testimony before a congress committee on finance and they asked him, point blank, are we behind the curve? He's like, yeah, why are we behind the curve? He's like, I don't know because when I was in the OCC, I gave people clear guidance and the SEC doesn't do that. They just kind of just say, well, we'll see how it goes. And they start suing people. That's essentially what he said. So now, of course, there is the Ripple trial going on against the SEC is suing Ripple. And this just broke. This is from Charles Gasparino from Fox News, I believe. He states, SEC is now arguing it has not officially declared Bitcoin or ETH-compliant cryptos. According to testimony in the SEC verse Ripple, that appears to be 180 from Bill Hinman's, who's the former chair, but the regulatory approach of former chair also, Jay Clayton. So they're in there saying, look, we haven't given any clarity to anything. And I know that we may have sounded like it because our past chairs did it. But that's not what we're saying. So if we think that clarity is close here in America, it's not. That's okay. Because like some people have pointed out, we don't need America to push this whole thing forward. Other countries are just fine and dandy, Canada, EU, Germany, just going forth Australia and saying, you know what, here's the regulation. We want to be a part of this. Let's see how it all works out. That's fine. So America loses again. Anyhow, so that's it for today. And then lastly, I will just say this, we did a follow up or a deep dive on Dan Clips. Dan Clips is more the advancements and deep dives into crypto and digital asset spaces. And this one is just for the news. But we talked about Avagashi and it's I'm very bullish on these play to earn games. But this one's interesting because it's defy plus play to earn plus metaverse and it rolls it all into one. So staking and getting yields and wrapping things, wrapping an ERC 20 into an ERC 721 and NFT into a token. It's very interesting. Full effect. I own the token. Like I like on everything. I'm very I'm very biased on these channels. I only talk about the things that I own. But hey, I have skin in the game. So that's it for today. So look, if you enjoyed today's video, give it a thumbs up. I'll consider subscribing. A lot of things we talk about are time sensitive. So that's it for today. Thanks so much for watching and I'll see you in the next one.