 did closing bell. We were supposed to have a last week. I know we just promoted. We told you guys about it this morning. We were going up in the air. But you know, the holiday season, we got a lot of closing bells that are coming up, but we figured let them get let's let's get them in here. I just want to do a quick intro about him and tell you a little bit about it. But I know he's got a lot of great content he wants to share with you. It's always nice to hear other people what they have to say of different markets. And you know, I would never have somebody on here that didn't be able to help us and educate us a little bit more about it. Remember what you hear on TV is not what you always hear when you hear from people like us that are on our webinars. But Matt is a head of research and he's overseas collective shift of analyst teams that produce quality content related to crypto assets and blocking blockchain technology, which you know, I'm a huge, huge fan of that with the digital currency and with Web three. He has also worked full time with crypto space since the 2017 started as a news reporter and independent analyst for Matt on Twitter. You can always follow him at Matt at Twitter, Wilmsman Twitter. But but without taking too much time away from him, I know he's got a couple of good things to talk about. He's going to go for, I guess, about 30 minutes to 40 minutes. So we're going to go out there and get him going. And in the meantime, Matt, Matt, welcome aboard. Welcome to Cybertree University. Thanks, Foster. Glad to be here. And thank you for that intro. Just checking it's all coming through all clear. Yeah, well, he loud and clear, Matt. You're loud and clear. Matt, where are you from again? I they forgot to tell me again. I know you're not from the United States. No, no, no, in Melbourne, in Australia. I was right. Oh, okay. I was right. I was right about that. Good, good, good, good. Well, well, that's good to hear, Matt. So Matt, tell us a little really quick before you get started. Tell us a little bit. What got you into the crypto and blockchain back in 2017? I just finished my bachelor of business at the time, majoring in economics and accounting. And, you know, before I went and joined, you know, one of the big four consulting firms or accounting firms, I thought, you know, I had been hearing about this crypto sort of asset class industry. I decided to do a bit more reading about it, continued to see these jobs popping up to do with more like, yeah, news reporting and just writing copywriting. So eventually just threw myself into it. And yeah, really just went down the rabbit hole, as I say, I think the thing that to answer your question, what drew me into it was probably that intersection of economics mixed with I suppose like software development, mixed with I suppose a lot of cultural sort of overlaps as well when you go back and look at how Bitcoin in itself sort of started around that 2008 financial crisis. So that intersection of all those things really, yeah, really motivated me and really opened my eyes up. And I think I'm a lifelong learner. So this space always has new things coming out, which are a few of them I'll touch on today. But yeah, that's basically what what gets me out of bed in the morning, five years later. Well, you probably got, I mean, listen, you're a popular person after what happened with FTX. So a lot of people, listen, I've been dealing with that when she's when the financial crisis kicked in and everything else. So I'm not really, you know, I'm not too much to be people asking me too much about it, because I don't trade crypto, but I wanted to have somebody on there to kind of talk a little bit more about it. Because you don't listen, I have an old saying here in the States, we always say, believe nothing when you hear in half what you say, you know, so but but but I know you have some good good content you want to tell everyone because I don't want to shy anybody's never it's not listen, you can still trade crypto. This still it's nice. It's you know what? I always tell everyone this Matt where longevity, it's a good thing to get these bad actors out of here. You know, on a short term, it's a lot of egg on everyone's face. We all look bad. Listen, even in my industry, there are educators out there that, you know, promise the world and it just makes us all look bad. Long term, it's the best thing to happen to us because you know what? Eventually they'll be gone. You know, there's bad actors and everything, but don't want to take too much time. Matt, why don't you go ahead and take over? Are you are you going to be sharing us a power point? Yes. Yeah, if possible. OK, go ahead. You should be able to take over the screen. All right. Terrific. And yeah, looking forward to getting into some questions as well. I'll probably keep about 15 minutes or so for audience questions because yeah, I know there are probably quite a few to do with FTX and whatnot. I'm just getting this set up. OK. You had the button up there on top to share screen? Yes. Yeah, I do. Just a moment. There you go. You should have it now. All right. Terrific. We didn't make you a co-host. Yeah. OK. Should be. Good to go. OK. Well, yeah, thank you for for joining me, everyone. And for that for that intro, as I said, happy to get into questions, leave. I'll probably go for about 20 minutes or so. Then, yeah, really looking forward to getting into some questions with you. And thanks for that. Those comments coming through on the Zoom chat. And I'm sure if there is a YouTube stream as well, I'm sure FOSSO will be able to help me out with getting some questions through. So keep putting them in. But in the meantime, I'll I'll give you an overview of where we're at at the crypto markets and and sort of what I do at Collective Shift. So to start things off, I think as we sort of touched on, I think every collapse, yes, it's painful to go through. I think we've seen a lot in the software, in the equity sort of space as well this year, biotech and traditional tech. But then particularly in crypto as well has been huge drawdowns. But for those waiting on the sidelines, I strongly believe this is a generational wealth opportunity for those who are patient enough. And as I said, I wouldn't be here five years later if I if I really have lost faith in the space. So I'm definitely definitely not in that mindset. And I'm here to tell you why I suppose in in this in this slide here. So just just to recap, yeah, I oversee just a team of analysts here at Collective Shift. And yeah, we deliver actionable insights for our subscribers who are mostly retail investors, and some institutional investors as well who rely on our content to basically keep them up to speed with what's happening in the market, as well as the industry to do with things like regulation and whatnot, all things that ultimately end up impacting the price of, well, Bitcoin, ETH and the whole size of the crypto market. So yeah, really, really enjoy what I do. And hopefully can convey that in the coming in the coming 30 minutes. So yeah, definitely, like every investor and all of you listening, you know, you've probably done a lot of things right and a lot of things wrong. In in previous market cycles, whether it's to do with crypto or not, you know, some things that my probably mistakes I made moving into the space when in my in my younger days was just things like not not capital management or miss capital mismanagement, you know, dollar cost averaging, but not actually, you know, kind of going in too hard too early was definitely something that it's almost like a rite of passage in the crypto space. So they say so I'm happy to kind of go through some of those some of those with you and share with you some of my investor knowledge as well as my knowledge of what's happening in the market. So yes, I do believe there is a a window of opportunity around the corner after after what's all gone on the past few months and yeah, happy to share my investment strategy with you towards the end and also in question. But the main thing I'm here to talk about today is where the market is currently at. So yeah, we've seen Bitcoin and Ethereum probably down about 70%. Also from their from their highs a bit over 12 months ago in November 2021. You know, it's drawn down more aggressively than than the likes of the NASDAQ and other tech stocks as as many of you would be aware. But these sort of drawdowns are pretty consistent with previous market cycles, particularly in the crypto market, which, you know, Bitcoin, yes, has been around since the very start of 2009. There probably wasn't a market for it since about 2012 is when probably the first Bitcoin exchanges started coming out. And then most of the crypto assets we know today are built on Ethereum, which look that launched technically in 2015, but really didn't get up and firing up until about 2017. So we can we can use previous market cycles to, you know, kind of draw similarities and distinguish like between them. But this cycle is very different. I think the main one of the main takeaways I would like to communicate with you today of why this cycle is different is just the amount of pure capital, whether it's human capital, like from, you know, people leaving their web two careers or even academics getting involved in the space. And plus the amount of venture capital that's that's kind of entered the market since the previous market cycle. So that's basically where we are at right now. The markets art and industry as we touched on at the start, the industry more so is is sort of hurting a lot the past few weeks. I'm not going to not going to lie to you there. The markets are well, this is almost in my opinion, I'll get to this, I'll get to this soon. But in my opinion, the recent collapse of FTX as many of you have probably been reading in the headlines about it, the sell off in Bitcoin and Ethereum and all crypto assets surprisingly, wasn't that deep. And that's one thing I really want you to sort of remember when you're thinking about when is a good time to either get involved in crypto or indeed just traditional stocks, when there's seriously, like, you're seriously painful news and just shocking news and you don't see that much of a sell off. It's a pretty strong indicator in my opinion of seller exhaustion. So I'll get into it a bit later in terms of, you know, timing the bottom and what I'm going to be doing in the next 12 months. But one thing to note there about the yeah, the collapse of FTX and the impact it had on the markets was negligible. But the impact it's had on the industry is is severe. Why is it so severe? Mainly the well, former CEO and co-founder of FTX, SPF is a hacker in him or Sam Bankman Freed. He's, yeah, I think the most significant part of this collapse is I will get to we'll get to this Jack but yes, SPF has basically had a massive relationship with politicians drafting up or at least, you know, testifying before Congress and helping draft crypto regulations. So yeah, just going to communicate with you that from the industry side of things, I see the collapse of FTX from the regulatory sort of space. I think that's probably the bit where it's hurt the most from in terms of the public perception and and from the policymakers perception of of I suppose crypto has really been damaged. But happy to get to more of that in the questions. Crypto prices have plummeted. Obviously, we're all well aware of that. There's been a series of sort of liquidations and well, cascading effects dating back to April or May. And that's essentially all amalgamated and led to this sort of like huge collapse of FTX just in recent weeks. In terms of like when the markets are going to stop hurting, particularly for crypto assets, we've seen this year, it's been heavily tied and heavily correlated with macro conditions, as many of you would be aware of. So it's my belief that it's going to be that that reversing of macro conditions or you know, an easing of monetary policy, or at least not tightening as aggressively that I strongly believe will sort of lead crypto out of of its current winter that it is in. So yeah, moving on in terms of like, okay, it's pretty doom and gloom. But we're also seeing institutional interest continue to grow. That's one thing. Again, I want to emphasise in this again, five years, working full time, living and breathing crypto. If there weren't signs of like light at the end of the tunnel, you know, I might have moved on by now, but I'm not even considering that in these current conditions. When big reason for that is institutional interest, and not just interest, but actual product development and service, product and services coming out by these these household names, entering the web three space or the crypto space. Fidelity, they've been a pioneer of sort of getting involved in crypto since about 2015. They are, yeah, as many of you would know, one of the world's largest asset managers, they just last week, amidst all the turmoil, launched their crypto trading app for for our retail investors. So again, just more more validation, helping to legitimise the space when you see the likes of Fidelity getting involved. And they've done a lot of work with crypto in the institutional side of things in terms of their offerings for institutional clients. But in terms of now going on to the retail path and offering crypto to get on boarded into the asset class, really easily and in a familiar user experience, that's something that has definitely made me bullish for moving into 2023 and beyond. We've seen Google continue to move into their space. They've actually got a whole web three division now that is helping running, you know, node infrastructure and just core blockchain infrastructure for many different blockchains or at least supporting many different blockchains like Ethereum and Solana. And just recently they did a deal with with Coinbase commerce to accept payments in crypto as well. And we've also got here as well, you know, Berkshire Hathaway has invested in a fintech company called New Bank, very focused in the Latin American sort of region. They will be launching their own token next year on Polygon, which is another sort of blockchain that that I'll get into soon. That's one that I'm really going to be focused on on next year. But, you know, again, these are just three examples. But to be honest, I could have gone on with dozens more every week, there are more, more examples coming out about companies getting involved in in crypto. Another reason why I suppose I'm more bullish, despite the price action is the developers at the end of the day, blockchain is a software. And you know, you need to see in my opinion, you need to see growth that developers are adopting these these blockchain, these smart contract languages. Because if they if they were just stagnant growth, and there weren't really developers interested in it, that's a strong signal to just us as retail investors that there really isn't that much legitimacy or that much that's overly exciting about the technology. Yes, there could be marginal improvements versus just a database or something that's already provided by the likes of Amazon and Google and whatnot. But if it weren't for that, then I'd be a lot more bearish. But that's definitely not the case. So just in the first half of this year alone, we saw 40% growth in the number of smart contracts deployed on Ethereum. So again, a very mature market leading blockchain in terms of the smart contract optimized block chains. So that doesn't include Bitcoin. So Ethereum already being the leader and then to grow another 40% in terms of just smart contracts deployed just in the first half of this year has been yet that even surprised me to be honest here in that report from from Alchemy. And then yeah, there's just more growth more than ever in terms of just web free development, which you would expect to see if this asset class and industry was to indeed deliver on what a lot of it has a lot of the promises that a lot of these teams and startups are building a major theme from this year in terms of where we're at in the market is Ethereum. Yeah, the number two crypto asset by market cap Bitcoin being number one. They achieved a really significant upgrade in September and they've been working the Ethereum developers have been working on this for about four years now and they finally they finally deployed this upgrade. This I won't go into the details, but it significantly I suppose from an investment case increased the investment case or made it more attractive for investors. It's just got to do with the issuance. All right, how much it is entering the supply every year or well every day, but on an annual basis, the amount of ETH entering the supply so increasing the supply that fell by about 90% on an annual basis. As a result, one of the results of this upgrade, it definitely wasn't the focus of it, but one of the side effects of that really improved the investment case in my opinion and to see them execute this upgrade without without any major problems. It went off without a hitch that as well like really helps well help me and help the whole market be a lot more confident in what Ethereum is aspiring to do in 2023 and beyond. Just a reminder that I will get to questions in about in about 10 minutes or so maybe maybe less and happy to have you do address those. So if you pop them into the YouTube stream or the Zoom chat, I'll happily happily get to those towards the end for cryptocurrencies that that I myself and as well as the analyst team at Collective Shift are closely watching for well 2023 and beyond. The first one, it's while it may seem obvious, but in our opinion, too many investors get swayed down the path of the altcoins, which are the cryptocurrencies that are a lot more speculative. But let's be honest, Bitcoin is still one of the several cryptocurrencies to be paying attention to. It will lead in my opinion, it will lead the crypto market out of this winter that it's currently in these through me gloomy doom and gloom sort of market conditions. It will be the one that will sort of lead the pack in my opinion. So just we've got these on chain analytics. So so these on chain analysts, they basically work full time reading interpreting all of the data that's that's happening on these public blockchains such as Bitcoin and Ethereum. One of them that contributes to Collective Shift a few times a week. He brought up this this stat recently. So there's this metric on Bitcoin called NBRV. It's very popular, very popular metric that historically over the course of Bitcoin's Bitcoin's lifetime has been a strong indicator of I suppose a timing of when to buy and when to sell. Well, just last week or just last month rather, it's this metric fell below zero point six for the third time in Bitcoin's Bitcoin's life. So again, a really strong signal historically of a time to to buy into Bitcoin or at least another sort of indicated to suggest that this is a good time to be buying the market cap. The market value is essentially just taking Bitcoin's Bitcoin's market value. So 16,000, 17,000. And then you multiply it by the amount of Bitcoin that's in circulation. So I think that's about 19 million these days. So that's just your typical market cap. The realized value is the value of every single Bitcoin at recorded at the value that investors or any holders of Bitcoin purchased that Bitcoin for. So it's probably reflected as more of a true reflection of the value of Bitcoin, because it doesn't take into account all of the unrealized profits and loss. So again, these on chain analysts go pretty deep on their metrics, but this is one that's that's heavily sort of looked at by institutional investors and retail ones. Ethereum, I will I've covered that a bit here, but I'll quickly just get into why next year. I'm looking forward to it. So again, as part of that massive, that major upgrade that I just referenced, it also enabled staking. So all staking is, is you take some of your ETH in this example with Ethereum, you take some of your ETH, you lock it up in a smart contract. And for doing that, you are helping to secure the blockchain. And you are also incentivized to, I suppose, act honestly. Because if you act honestly and secure the network in accordance with the protocols, sort of specifications, you will be rewarded with additional ETH. So this was never been, this has never been able to be done with Ethereum up until September. So yeah, now investors as particularly institutional ones are sort of, you know, really cottoned on or it's captured the attention in terms of just being able to get a bit more of a predictable inflow of additional ETH rather than just passively holding the ETH, which you would have had to do in previous years. Again, just talking about that supply dynamic, we saw that the new ETH entering the supply has fallen by about 90 to 95%. And with that effect, you're also getting this, this sort of situation where over a course of many weeks or many days, there are, depending on the activity of people using Ethereum, you get these situations where the actual overall supply of ETH is falling. So we're calling that net deflationary because there's a certain amount being burnt or destroyed and there's not enough new ETH coming in to keep the supply constant. So again, more scarcity is again a very attractive investment quality. And again, these upgrades don't stop for Ethereum. The next major one will be in the middle 2023. Happy to discuss that more in the questions. Next one is Polygon, which I touched on earlier. They by far have the best business development team in the crypto space. So they're partnered with and integrated with the likes of Meta, Reddit, Disney, Starbucks and Nubank. There's probably a dozen others that I couldn't use it as an example there. But what is actually Polygon and what is it trying to do? It's essentially a solution, a different blockchain that's connected to Ethereum but its whole aim is to try to make transactions incredibly cheap while still being secured by Ethereum. So a lot of the sort of drawbacks and criticisms of Ethereum over the years has been that it's incredibly expensive whenever it gets an increase in activity. A bunch of people want to use it. When that happens the fees go up. So there's a bunch of different scaling solutions being worked on. Polygon is one of them and they themselves have five different teams working on different solutions for scaling Ethereum. So again, it's just a bet on them being able to be at the forefront of I suppose connecting and partnering with different traditional businesses but then also having the technical shops to be able to build a solution that's used by the masses around the world. And just finally here, Alluvium is another one that we're watching closely at Collective Stiff. So ILV is the ticker there. We hear a lot this year in particular about how blockchain gaming is going to be the next big thing. Still proof remains to be seen whether that will happen because the nature of games as some of you would be aware games take many many years to fully develop and to release. So we've seen a lot of these crypto gaming startups sort of launch but and they've raised a bunch of venture capital, significant venture capital but the reality is that their software takes and their games take a lot of time to build but Alluvium is probably the one that is almost a canary in the coal mine. It's it's the leader in terms of the best technical team and and raise like they're very well capitalized but again not launching they'll probably drip feed the launch in multiple stages starting next year. So again just one to watch heading heading into next year. If put it this way, if blockchain gaming is going to become as big as what people are saying I would be very surprised if Alluvium wasn't part of the picture and just some tips for security can get more into that in the questions but again this year has shown us many times just the the drawbacks of having your cryptocurrency with a third-party custody custodian the most popular of those being exchanges such as you know coinbase Gemini, Kraken, FTX these are all exchanges that they do a very good job of you know being able to convert your US dollars and and buy some Bitcoin or Ethereum but if you're leaving your Bitcoin and Ethereum on there it's technically not yours you would have to then transfer it off into your own custody by getting a wallet such as a ledger or a treza they are just picture them like USBs they're little devices that you can connect and transfer that cryptocurrency into your own custody very important because unfortunately the likes of FTX if they collapse now you've got a million plus creditors in a bankruptcy procedure that's going to take up to 10 years likely so and again they're very unlikely to get all of their cryptocurrency back so just a reminder there that I did want to touch on so yeah just to recap my investment strategy for the next 12 months I personally just purchased my first Bitcoin and Ethereum for 2022 I did that last week being communicating with members why I'm holding off and I'm glad I did hold off this long despite some members being a bit antsy with me trying to trying to convince me to to buy earlier I'm happy I held off because the contagion risk of the many events we saw earlier this year were yeah at the back of my mind that we still could see some more pain and unfortunately that happened a lot more bigger a lot more extreme than what I thought with FTX but nonetheless happened and that was enough for me to to buy in for the first time and I'll continue to accumulate over the coming months particularly starting with top tier crypto currencies like Bitcoin and Ethereum institutional interest remains and I'll also put in there the developer activity continues to increase they were too big I suppose green lights and bullish indicators for why I think this crypto asset class has a lot more to offer and yes the next 12 months can present as a generational buying opportunity I believe it does if you if you choose the right ones but happy to get more into that in questions just a bit about what we do at collective shifts as you probably as you've probably known yeah we get a lot of questions about people who invested into crypto but they can't keep up to date with everything that's going on so yes we're here to to help you and to keep you up to speed we do have a bunch of a good mixture of new and experienced investors in the community we also have an online community where people are able to comment with our analyst team including myself and they're also able to network with other crypto investors I've got a case study here this is indigo a typical example of I suppose what we aim to do at collective shift where you know she came into the space following this sort of suspects information on youtube and and other free sources where the quality of the content isn't isn't great she started using collective shift after that followed our strategies and our best practices and was able to double her portfolio so we do have an offering here today for for our new family here at finn mc so a bunch of these different resources that we've put in over the years normally will be valued at 265 us we'll also throw in a crypto investor checklist which again has been curated over many years of experience by the team and then also a guide to how to stake your crypto staking is a verb that you will keep hearing about over the coming years so we've got a guide there to help you understand what it's all about so for the total value of four hundred nine dollars we will be offering for the community and the listeners here who have kindly showed up and who I hope I can answer some questions for in a minute we will be slashing that by 90 percent and offering that just for seven dollars so I'll keep that QR code there on the screen for for anyone there to scan with their smartphone or you can head to the link blueprint.collectiveshift.io I believe that was it I did just what I'll get that QR code back up in a minute I did just want to emphasize as well that there is a 60-day guarantee if you're not happy with any of the content or you didn't find it helpful you can get a full refund by just contacting our customer support in our chat function that is on our on our website so I will leave that QR code up there for for listeners to to scan and I'm happy to get into get into some questions. I have some questions for you too Matt I mean obviously the big question is I mean like everything that you mentioned sounds awesome a lot of people that looking at this will probably would do it but you know obviously with all the scrutiny come around what is going to change first of all is it's going to get regulated. Yes I think as I mentioned that's the the big concern is probably the regulators patience or even perception of the space will they come out with some hard hitting regulations that essentially force a lot of the US domiciled crypto companies to either shut down or to move offshore. I still I still like to answer your question it will be regulated a hundred percent I hope it does why because if it doesn't it's probably a sign that the asset class isn't even that big and isn't even something to bother about so it will definitely get regulated there's a bunch the Biden administration has put out a memo for several sort of reviews and reports to be coming in actually in the coming months there's already been a couple that have come in and then after that I would say it would go through go through the Congress and be debated but to answer your question there has been a lot more I suppose support and representation of crypto in Washington over the past couple of couple of years unfortunately SPF was was one of them but in terms of the US like going hard on crypto regulation I still don't think that it is in their best interest to go hard on regulation just because of the economic value that that would kind of force offshore and it would really I suppose put thousands of people thousands of US citizens out of work and the backlash I think would be would be quite extreme if they were to go super aggressive and to really rule out and shut down all these exchanges yeah I mean listen I tell everyone that that regulation is not a bad thing it's a good thing because yeah it weed out a lot all the bad actors and stuff like that listen I grew up back in the day with the penny stocks and you know all these chop shops back in the early you know late 90s you know stuff like that um you heard the movie the wolf of Wall Street yeah so I mean it's stuff like that and in like obviously you know once they got you know burned um they became a lot more strict with penny stocks and nasdaq national and you know nasdaq took a lot of heat from that and it really just gave people a lot more confidence of you know what stocks are for real and whatever and broker terms so yeah I think that regulating and it so I'm a big fan of what you're saying I think first I'm a huge fan of blockchain you know I really think that's the future I think it's web three I was actually looking to explore it in myself to do it with ctu with uh with uh with the nft you know um as in uh digital uh digital assets moving forward and you know paying with cryptos would be great so listen guys I mean it's seven dollars how could you go wrong I mean what's the worst thing can happen right I mean Matt you go in there sample it out seven dollars I do something very similar like that and you know just want to get people some serious people in there to get in there 60 days guaranteed like you said if you don't you get your money back but you're looking for serious traders in there just like how I'd look for the same and you know what if you want to know the real truth here here's your opportunity yeah that's it I think it's a perfect point on regulation as well um I think there is a question here from ravina uh isn't the purpose of crypto not to be controlled by others uh yes like yes that is the I suppose the point of a you know a permissionless blockchain which anyone can come in and you know run a node and help secure and anyone from around the world can use to transact and you know send send all money or tokens to other side of the world to their family or friends and various other applications um but ultimately if this industry is going to grow up and mature and be adopted by the masses it has to be regulated and that's one thing that's happened yeah on the on ramps and off ramps in particular that's all that a lot of government's concern is on the anti-money laundering side of things and KYC in terms of just helping helping them understand who is putting their money on exchanges and who is who is withdrawing it um I think that's a fair enough requirement from them given given their other requirements in in other industries which are similar um so yeah that's the main thing that I think will happen and just on the point of FTX it's almost a symptom unfortunately domiciled in the Bahamas and other other surrounding areas of their many entities it was almost a a symptom of US regulation you could argue not being more rigid and more comprehensive on crypto if it had already come you could argue that a lot of FTX customers wouldn't have actually even used FTX they would have used the likes of Coinbase or Kraken where there was a bit more clarity on the regular on what they could do um and it would have actually enabled them to be more competitive with FTX but that's just that's just a side comment um that yeah I suppose well we'll never get to the bottom of because it's hard to prove but um is there any other questions coming through on the YouTube uh stream there I've got some more in zoom but no we're all on zoom pretty much uh we're don't see any on YouTube but mainly just on right here okay yeah yeah so yeah isn't isn't FTX done um yeah well yes the the entity still technically exists but it's it's in the hands of bankruptcy lawyers and liquidators essentially so yeah that bankruptcy case will take yeah upwards of 10 years in my opinion it's arguably the most complex bankruptcy case in history uh in corporate history over a million creditors so many regular so many different jurisdictions involved um it's going to be yeah quite a quite a nightmare unfortunately for for all the customers but yeah it's kind of why I emphasize get your funds off of exchanges or if you aren't in crypto yet and you buy you buy uh crypto like bitcoin or ethereum on an exchange do remember to take it off the exchange um into your own custody yeah and and you're going to teach that how to do that is that correct yes we have we have several uh we have several of those um guides of how to do that um in in our blueprint offering and and then also in our community you can you can come and ask if you did have any follow-up questions as well about how to how to do that yeah good good good good all right well um with that said matt listen it was great having you on and you know what it's a great deal and everyone wants to know a little bit more about it hell i'm going to take advantage of it myself because like I said like i'm a big fan of it um unfortunately with these catastrophes I always tell everyone makes a big opportunity that's where uh listen if you ever if everyone here remembers uh Bernie Madoff he was the biggest you know Ponzi scheme and personally this is bigger I think this is bigger uh in a way of you know kind of like now you got major politicians involved and I think that you know you could see how money can buy power and but as long as the same thing happened with Bernie Madoff you know as long as you got power and you could buy people off I mean the SCC was in had had renting space in his office I mean talking about you know slipping through their nose so I think it's a lot there's a lot more to come out um that we know about but you got to be prepared because like I said still a big fan of crypto you know I think it's still going to be there and now you get some of these bad actors out of the way I think uh I think it's only going to help than anything but with that said Matt thank you so much for coming that on today and and uh like I said sorry you know with the short notice and everything else and look forward to having you back yeah it was it was a pleasure to uh yeah help out how about the audience and I hope I hope some of you um or a lot of you got got value out of it and yeah we'll look forward to uh to doing this again hopefully uh when when markets do recover as I predict them to do next year so yeah we'll be covering it all over at Collective Shift so I look forward to to seeing some of you over there no same here same here Matt thank you for having thanks everybody for coming I'll see you tomorrow more bright and early in the trading room