 Well, digital asset news like a top stories in crypto and bring down a bite-sized pieces today. Just as the thumbnail suggests agendas are shifting and the reason why they're shifting is because cryptocurrency and digital asset market is warming up So first up after ejecting Bitcoin ETFs former SEC chair Clayton joins the fight for approval quite odd that we've seen somebody like Jay Clayton Who has for years been against a Bitcoin ETF and all of a sudden because he works for a separate company that has to do with crypto He's all about it on top of that We'll take a look at another shifting agenda as Bank of America outlines key benefits of Bitcoin adoption and in El Salvador, which is kind of odd because it just came out a couple months ago saying to stay away from cryptocurrencies and digital assets Also, take a look at Michael strategy pledges to buy more Bitcoin despite massive losses of 4 and 24 million in Q2 And that's how you invest Also, we'll take a look at founder of NFT game loses 16 crypto punks and a bunch of eat the scammers And this just goes to show you that doesn't matter how long you've been in or how smart you think you are Scammers can actually get you and here's a ways to avoid them and then finally just want to make mention that tonight It'll be me George and James and we'll be doing a live show over on George's show on George's channel called DCA live We're gonna close something different We'll do things with cryptocurrency but a little bit outside of our realm of what we do on our regular channel So check that out tonight. That's at 5 30 Pacific 7 30 central 12 30 am GMT for everybody else out there So that's what's going on. Let's take a look at what's going on into the market So today, hey, it's a good day Sunday, and we're in the green. We're up 3% at Bitcoin is at 41,000 292 there's some big winners recently and one of those I can just tell you is polka dot But we see that even a 3 in 2600. Wow 2671. It's up 7% in 24 hours Binance coins up everything's up 7% for uniswap sitting at number 10 and then Bitcoin cash point a to nash or whatever else but what I'm looking for specifically is polka dot It's up 16% in 24 hours, and it's also up 44% in a week So everything that's going on with polka dot is they are coming into their own those parachains are coming online people are Getting into them these different Organizations are bidding and they are winning and that just means that polka dot is going to become a full-fledged service Right on the heels of a theorem So I know when people say, you know polka dot and theorem really don't compete with her with each other I don't know if that's really true. I think at some point There's gonna be a little bit of a battle and I do think there's enough places for everybody But it's just interesting just how much polka dot has taken off and as you know Dr. Gavin Wood was also a part of a theorem For the co-founder days as well as Charles Hoskinson over there at Cardano So a lot of exciting things are happening are going to be happening in q3 and especially q4 So this my friends is the time to be in crypto not Investment advice just an investment opinion. Okay, so let's jump into a day-stop story and we talk about Jay Clayton and what he's doing with Getting an ETF approved. So to me I read this and I kind of get a little angry. I gotta be honest with you because And I shouldn't it's just an investment. Yeah, but When you look at these things you really start to realize that everybody's got an agenda and everybody who says, you know that they're like You know, I'm just doing it for the for the good of the people and I'm really out there for everybody you had to look at the story behind the story really and That even falls on me too. So if you think that I'm not biased I just Happen to talk about polka dot or I just happen to talk about Bitcoin or Ethereum just because I like them well, it's also because I own them and I'd make no bones about it. I mean, I'm very biased on this channel. I don't talk a lot of things about things I don't invest in I mean, I will at some I mean on some certain situations but in all in all I'm biased and If you don't think that everybody else is I think you're in fairytale land and this is gonna show you what's going on so Jay Clayton joins a fight for approval. So what's going on here? As sec chair Gary Gensler announces his rulemaking agenda His predecessor Jay Clayton is working in some of the very sectors and investments that his commission failed to act on during his tenure One River asset management submitted a registration statement for One River carbon neutral Bitcoin trust the proposed exchange Traded fund seemingly checked all the boxes on popular investing trends and that's just it these are all trends and Of course right now when people say there's no demand for cryptocurrency and we don't really see too much going on and we Don't know why would anybody get into them. Are you out of your mind? I mean look we live in a bubble Let's just be honest, right? We're all just kind of there But we look out of our bubble and see what the big money is doing I mean if you take a look at BNY Mellon with its 2. something trillion assets under management and they go to team up with Grayscale because they want to do the infrastructure and also try to get that ETF going well makes a lot of sense There's probably a little bit of demand. That's a lot of money That's smart money on top of that State Street also with like 3.1 trillion dollars is doing their own cryptocurrency exchange These are some of the oldest banks and with some of the highest amount of assets under management or assets under custody, so I mean these huge entities really kind of get what's going on and I Think they just all see what's gonna happen. So they're trying to get behind it So that I think is a very telling thing But this right here Jay Clayton when he's talking about these things you're like well, why is he so involved now? Well, here's why so Jay Clayton is no longer a government official He was the former sec chair He needs to earn a living to pay for his fancy Manhattan apartment and you're not gonna get paid for being neutral on these topics So says Adam Prichard professor University of Michigan law People are hiring and you need to be an advocate or endorse what it is that they're doing or lend credibility So if you're monetizing your reputation, you're going to have to pick a side and that's the thing when you're a Government official you can do whatever you want. I mean as far as like the powers that be that will allow you to do these things So when I when people always say well, you know, there's no manipulation is not really going on if they understand that the SEC They get chosen by Congress right Congress goes in there and says, okay We we nominate this person and we're going to vote on them and then boom they get in Hopefully so they get in but you gotta remember who also puts the Congress people in in charge Well, the people do right? I mean we vote for them But on top of that it's a bunch of donors and who's got the most amount of money in America Well, big pharma. That's one of them and and banks So when you take a look at what's really going on you gotta take a look at who's agenda and what is doing what so this is a positive Story potentially, but there's a twist So Clayton is not the first to make this leap the proverbial revolving door of government and private industry There's also been loski who went from New York State's first superintendent of financial services Making rules around crypto licensing to advising Bitcoin funds. That was number one Clayton was also preceded by former commodity futures trading chairman Jay Christopher Ginkarlo who went from making regulations around the classification digital assets to being hired through his work at New York based law firm Wilkie far and Gallagher to write briefs on behalf of Ripple So with all these things that are going on right now and all the different people that had gone from those Private or from those public sectors the private sector. You would think we'd have a little more traction. Well Track does get laid, but it does take a lot of time So even if we think like oh well Jay Clayton's in and he's gonna push through the ETFs and the logical thinking would be like Well, it's not about, you know, what you know, it's who you know and Jay Clayton I'm sure has a lot of contacts in those realms of as far as the SEC. This is true But he's got his own agenda and Gary Gensler who sits there is like look man You getting paid and that's not my job. My job isn't to get paid from your company My job is to be the chairman of the SEC and we'll see this actually pans out So hopefully maybe with Gensler getting hit from different sides It will go through but I'm not holding my breath on on an ETF. I've been hearing this for a long time I think at some point it will get done because there's so many there's so many big organizations getting into it I'm just not ecstatic about this happening like Next week or next month. It'll just take time But slow goes the boat. Let me know what you think about that in the comment section Let's take a look at our next piece where we talk about The BOA crypto support and actually before I go on to that I would just like to say one thing and that is about agendas, which is you know, this guy right here in the background that's Scott Menard and he's the CIO Guggenheim and it's one of those those huge institutional and investment corporations and He was the one that had originally said that Bitcoin was go should be valued at $600,000 and that was about four four to six months ago And all of a sudden like a month after that he's like, you know what? I think Bitcoin's gonna go to 28k and then he said no, I think Bitcoin's gonna go to 15k and If you take a look at what they're offering their clients in the background Of course the lower that they can push this number And I don't know if Scott really believes that to be true or if he doesn't or whatever else But again, everybody's got an agenda and I would think that in Guggenheim It would behoove them to get into a very low price so that their clients can think that their genius is when Bitcoin skyrockets up Unfortunately, the people listen to Scott right there and sold when it went from 60 to 50 to 40 30 and then 2928 and they sold or whatever else Today it's at 42,000. I think we're gonna see some pretty good pretty good months But that's neither here nor there just something to think about as far as agendas. All right So this next one agendas Bank of America outlines key benefits of Bitcoin adoption in El Salvador This is strange again, because why would Bank of America come out and say hey great job El Salvador? Well, here's what's going on The bank claims that the introduction of the world's largest crypto could potentially lower the cost of remittances Those are payments back and forth cross borders which represent nearly a quarter a quarter of the tropical countries GDP this could substantially increase the disposable income of El Salvadorans. Well, that's great Banking the unbanked as seen as yet another advantage of Bitcoin adoption and I want you to key on this this next sentence Roughly 70% of citizens in El Salvador do not have access to a bank account. Why is that so important? Why is it so important for people to have an actual bank account? Well, here's the thing if you are if you want to Advance yourself as far as like a business owner First of all, it'd be great if you could put your money someplace where it would have like I don't know FGIC insurance So you didn't have to carry it on yourself and then worry about getting ripped off a second of all It'd be great if you could I don't know get potentially alone and then build up your business and actually, you know Advance the business part of your life and you could do those things with the hell of a bank Well, if 70% of people in El Salvador can't do that that puts them at a major disadvantage So when people talk about how ah, you know, Bitcoin's awful and it's used for nefarious purposes and blah blah blah well Guess what? The dollar is used for the most nefarious of all purposes for the longest of time and in all honesty If you want to do some type of good, I think the lighting network that's going on with in El Salvador with Bitcoin I think is a step in the right direction. So if you got another idea of how you can bank the unbanked I'd love to hear it then to finish up in March Bank of America published a scathing report about crypto Which they've said bitcoins only that viable use case is price speculation. So it comes out of this I don't know what the agenda is, but there's a reason why Bank of America Went from saying, you know what? This is the only viable use is speculation and just crazy gamblers out there to go and hail Salvador a good job This could really help you out They don't just make the effort for no reason So we'll see I believe Bank of America is doing something with Bitcoin futures correct me in the in the comment section below But wouldn't surprise me. Anyhow, I'm gonna think about that story and then we'll go on to our next piece, which is The ballers micro strategy and this is this is a good lesson not about I mean, it's a good lesson as far as like For long-term investing, but it's just a lesson about just hold on just hold on because as time goes on Usually things do pretty well. So what's happening here? So micro strategy pledges to buy more Bitcoin despite paper loss That's the keyword on its holdings of 424 million in quarter two. That's a huge loss, right? Well, here's what's happening business intelligence and mobile software firm micro strategy has pledged to buy more Bitcoin Despite reporting impairment losses of 424 in Q2. So just remember April May June They lost in quarter two. Okay, that's all that really comes out to be This is what it means. This is only a paper loss based on the price of Bitcoin at the end of the quarter and Does not reflect a realized loss. So this is the big thing. Well, two things first of all Actually just looking at quarter to quarter. Yeah, they're probably down, but they've been buying for quite some time I think they're still open up overall And the big thing is this is that you don't lose if you if things just go down. I'm not gonna tell you my paper loss from gosh March April and May when things are doing pretty well and then June and then July it took quite a bit of a loss and Because I already gone through this multiple multiple multiple times the first one is 2017 and 2018 It didn't really faze me and I know people are out there going You know what you got to do is you got to trade you got a trade and you got to time that market And you got to get in and get out and you could do that I got no problem with that, but I'm just not that guy me personally I got a lot of things going on I would just like to just invest dollar cost average set and forget it and have a lot less stress in my life Then always looking at the damn Portfolio and going on this is down or that's down. I look at it every so often I mean, I'll be on I mean I look at it every day because I'm with you guys, but In all honesty, I just look at them like I don't care what it does today I don't give a damn what it does in a month or two months I just know that in one three five ten years It's gonna be worth a boatload and that's really what it comes down to again not investment advice Just invest an opinion that is my opinion in my opinion only, but that's what I got Let me just think about that in the comment section and let's move on to our last couple pieces where This is a hurtful story actually so the founder of NFT game Loses 16 crypto punks and a bunch of ethos scammer. Here's what's happening a scammer confusingly named Crypto punks bot posted in the crypto punks discord server offering NFT investors the chance to win 10 of the elusive NFT avatars to celebrate the project's 40-year anniversary apparently These crypto punks are worth a ton of money So if you got a couple you're you know pretty much doing pretty well So this is what happened the link directed to larvalabs.io a convincing copy of larvalabs.com The project behind crypto punks the site then had a pop-up that looked like metamask The pop-up said that metamask security had been compromised and requested stazies. That's the Name of the person who does this NFT game They wanted his seed phrase to restore access anyone who has access to 12 word phrase can drain the metamask wallet of funds So here's the thing just remember this if anybody asks for your 12-word phrase your seed phrase your mnemonic phrase or you're gonna call it Don't give it to him. I don't care if it's something from ledger I don't care if it's any I don't care if you get an email from me and guess what there's a scammer named digital asset new at gmail.com not digital asset news at gmail who Actively tries to get people to sign up for some trading thing that they have I don't do trading But this just goes to show you that it doesn't matter where you get it from just here's the here's the basic principle always try to go To the legit the the main website This one's tough though. I mean larvalabs.io to larvalabs.com very convincing try to go to the the official at least the Official website as best you can find it and then if you get past that and you screw that part up Just don't give anybody your 12-word mnemonic phrase because that's essentially just giving them your keys like here's the key to my house go right in take whatever you want and That's the big thing so if you screw up one thing I just don't screw up the second part and you should be okay, and here's the big thing I want you to remember Stasi and we unwittingly sent his wallet seed phrase a scammer He states there was zero critical thinking and this is a beyond idiotic The punks and ETH was quickly gone before I could do anything today The scammer sold five crypto punks for a hundred four on ETH three eighty five thousand and lastly This is the big thing Stasi's been in crypto since 2017 and considered himself familiar with the ways investors are swindled out of their crypto He chalks his last lack of judgment or lapse of judgment at the time down to being burnt out Tired and frustrated so look We've all had it happen Okay We've all had this issue where we were approached by someone or something's happened or we've got an email or something like that and Most of the times we've gotten around it and we haven't gotten screwed out of our crypto great good for us Right and then some something like this and this guy styles. He's been around for I mean as long as I've been around So he knows all the ins and outs and he was just tired one day So anytime you hear anybody who go man, I got I got scammed. I got this and that Don't automatically say you're an idiot and I can't believe you lost it That's so callous and so backwards thinking just try to give him some support Tell him that it's gonna be you know what say hey, you messed up But try not to do this again Hopefully it wasn't too much and don't ridicule people because when you do something like that It's like just it could happen anybody. I know a lot of smart people have got scammed out a lot and it's just unfortunately this commonplace and Again, just if you if you're tired or cranky or you just don't really get it Just stay away from trying to do any of these types of giveaways or whatever else they're all scams anyhow And that's what it comes down to so that's really it so that is it for today And I would like to talk about Lastly we've got Me George and James George from cryptos arrest and James from invest answers We're gonna do a live show. It's supposed supposed to be every week now We're just gonna be talking about different subjects. It'll be crypto and digital asset related But we're not gonna talk about the news. We all did the news We're not gonna talk about a lot of things that we talked about a regular show because why would you go over there and watch it? It's gonna be a little bit different things talking about Just various topics that we've come up with I think that we that could help the average crypto currency enthusiast and Investors so check that out once I get a link. I'll put it on the Twitter on my my Twitter account Also, just follow me at news asset a lot of things I talk about on this show I talk about on Twitter, so just check that out and that is it for today So look if me all the way and thanks for stopping by appreciate it If you liked the video give it a thumbs up give it a like and that is it for today So if you got time, I'll see you over on Georgia's channel, but that's it for right now. I'll see you on the next one