 Great welcome to the last set of news like a top stories and crypto and break them down into bite-sized pieces and And today just as the thumbnail in the title suggests There is some good news for once coming out of the United States as far as related to crypto and regulation This all comes from a Senate hearing that took place yesterday And it really comes down to what the CFTC head said Versed the SEC and how I can't believe I was so naive to think it wasn't just about a bunch of money So we'll take a look at that also. We'll take a look at how 10 trillion assets under management black rock is now allegedly getting into crypto So we'll take a look at the story. I got to tell you This is something that you should look into but don't get too excited too fast I'll tell you why then lastly we'll take a look at how IMF and the world is Pretty much going against El Salvador and what this all means So we'll do all those things the very end. We'll take a look at do some Q&A So hold all your questions till the end and to recap. Let's take a look at the actual market. What's going on? So if you're here for the live stream welcome, thanks for coming by appreciate it Also, if you're watching the replay there will be timestamp so you can skip ahead do whatever else you want to so you can Respect your time and then just know that the news will take about 10 minutes or so and then the rest It was just Q&A so you're welcome to stay or you can take off what are we gonna do? Because I know you're busy, so let's just jump into it, huh? So here's what we got today's a good day I mean not a bad day. I mean as opposed to January if everybody's looking pretty good I mean Bitcoin's almost a 45k and I and as you might notice This is my second day using a new platform called Santamint there's a link in the description if you want to check it out But I like Santamint is because it gives me just you know price analysis It also gives me sentiment analysis It also takes a look at developer activity and also can give me some pretty fantastic on-chain analysis So over the weeks and months, I'll be showing you how this all works, but it's a very It's a very in-depth system and it's not too expensive. So I like that part, but there's just so much like this one So let's just I'm just gonna show you I'm gonna break this down a little bit So Bitcoin is 45,000 right in a one-day percentage and 70 percentage. That's good, right? It shows us. That's great Coin Gecko can show us. That's whatever 22% But what I like to see is like volume and things like that so volume on the last 24 hours 23 billion and that's Down by almost 94% so when we take a look at what's going on with the market lives a pretty good indicator to see if we're running out of steam So Ethereum is down a little bit Binance coins on a little bit and you'll notice that stable coins are up a little bit because people are selling just a little bit on the side And I think that they we might turn a little bit Just choppy sideways for a bit ripple is down 20% volume not in the price though You'll notice in the price in seven days XRP is 48% up over seven days, but again in 24 hours It's down a little bit cardano so on and so forth So I also want to notice once you notice about this thing called developer activity over 30 days Developers are like gold these days So if you're looking at a project and how things are doing just look towards the developers What I like about Samsung it is that they're able to get rid of a lot of the noise that you can get with GitHub and they have their own metrics how they pull this so developer activity for Bitcoin look Over 30 day percentage wise. It's up 23% Ethereum is down a little bit, which is kind of weird. I think that's odd XRP down 87% cardano down 65% hex. That's right hex and then number nine spot There's no developer activity, but that's because people say it's a complete chain. Sure. All right Solana is up 22% for developer activity percentage wise And so if we're looking at projects You know that are really pushing forward and really trying to improve look at the developer activity And that'll tell you some some pretty good information and lastly I want to I wanted you to notice this the daily active addresses This is a good point a good summary to see if we're going in the right direction as far as for adoption So you'll see like Bitcoin over 30 days Almost a million active addresses a million But it is down a little bit Ethereum is down a little bit as well 8% tether and buy its coin 24% that's weird Cardano active addresses are up 11% over 30 days Hex down 41% then there's some no datas here because they can't get it But look at this one dogecoin 452% over 30 day active addresses and so on and so forth So you can you can nerd out if you really want to but that's what's going on in the grand scheme of things as far as Digital assets and crypto and also because we are in reality. We really are tied at the hip Let's take a look at traditional markets. So yesterday was a good day. They haven't opened yet It's 9 a.m. in New York. So another 20 minutes 30 minutes or so But look at this nice little rally over five days looking pretty good over a month Not too bad six months still not too not too bad after this huge drop-off now We take a look at Nasdaq the same type of thing I mean, there's been a lot of people who were scared out of their minds When everybody was talking about the Fed they're gonna come out They're gonna raise these base points and I know a lot of I know some people a lot who sold all their crypto I know some people not a lot who sold their stocks because they just got so afraid which I understand I get it You're afraid you're afraid you want to get out and it's not I don't look down anybody if we want to sell or whatever else not here to guide you what to do This is just investment of penny not investment advice. I'm gonna hang on and On this time this time. I got it right. I might I'll probably get it wrong next time That's just how it is. But there is one thing I want to share with you and that is let me bring this up I'm gonna stop this I'm gonna share a tab so you can actually listen actually hear it Nasdaq black run Here it is so this They were doing a roundtable on CNBC and just talking about what was going on with traditional markets This is a Joe Terra Nova senior managing director of Virtus Investment partners and he he summarizes it perfectly for what he says here because if you're scared that the markets Fluctuating it's not just you it's a lot of different people so take a listen to what he says here The concern I had on Monday was that the weakness that was exhibited in Facebook was going to pull down the rest of mega cap equities We had basically had a complete erosion in the rally for Amazon I was focused on the wrong thing what I should have been focused on and what was so compelling Was the story that was being told yesterday and kind of studying the macro you could see it build you had yields Rising to its highest level since 2019 you had a fundamental story about pricing power from Tyson foods Yes, they were able to pass it through you had a Bank of America report on consumer spending. Yes, incredibly resilient second-highest Amazon Prime raising their prices. So what I saw yesterday that really Got me to reverse an audible at the line was breath You had breath within the market and the focus should not be at this moment What the impact of the mega cap equities ultimately going to be Scott? It's about can capital go to other places is the welcome that finally out in small caps in mid caps Which are outperforming is the welcome that out for equally weighted strategies, which are now outperforming Cap weighted strategies the welcome that is open. It's there in international Developed economies emerging markets. So I thought my enemy was going to be priced Just because the magnitude of mega cap equities, the real enemy is just time It's really just a matter of marking time and getting to the moment where the Federal Reserve is ultimately going to let us know 2550 basis points and what does that all really matter at the end of the day? I think in terms of the price damage it absolutely Unfolded in January even if we were Even if we were to retest the lows once again, which I assigned a very low probability that the real enemy was going to be Reliability you're not going to get hurt there. There's going to be a recovery It's just a matter if it's a V or a you and I and I apologize to the viewers for Monday coming out and saying I was worried about mega cap equities. I saw it standing at the line yesterday I was focused on the wrong thing the opportunity was in the secondary. The breath is absolutely there I saw it reflected in agriculture names like that I own like John Deere and Archer Daniels Midlands Look at Freeport Macraman. Look at the materials Okay, so I don't want to go that deep into it, but it makes sense though, doesn't it just what he says It's all about time and I understand that people are like, ah, I Get worried I get scared it means everybody gets scared in traditional markets. They get scared We get scared and you know, it goes down to the whole thing What do you believe is going to happen in the short term risk of long term? Are you here for a couple of days or a couple of weeks or not? So let me know what you think about that whole piece in the comment section. Let's move on to what we're all here for Which is the good news which I like good news. Finally, we have a little good news Let me stop sharing this and share the actual right piece here. I think When we see and I can't believe I'm so naive to think about it like this But I was and I'll just tell you exactly why in a second. There is there was a Senate hearing committee meeting Or a Senate hearing not committee Senate hearing meeting yesterday I had a bunch of big, you know, big individuals Sam Bacon-Freed from FTX was there He had the CFTC SEC ever was ever was there talking about our favorite section, which is crypto and digital assets, so This was a good piece and I'll get to my naive pieces in a second. So let me go here Sorry, I had to mute that for a second So the chairman of the of the CFTC told a Senate committee hearing Wednesday as agency wanted to be charged with regulating The crypto spot market and I was like, well, that's interesting and actually I'd rather be I'd be happy if they want to do that So I want the SEC to do it because I don't know what they're gonna do CFTC chairman Rostin Rostin Benham talked about he asked what he thought was the single most effective action Congress could take to address customer protections and Benham said Congress should bring regulatory structure to the crypto market before I go on let me clarify some things about what I think about Regulation, I know a lot of people on this channel hate regulation. They don't want regulation whatsoever. I get it. I understand But you have to understand One thing is that if we have zero regulation, we're not gonna get anywhere if we over regulate We're all gonna get screwed because they're going to make essentially You're gonna have to go five miles per hour and 80 mile per hour lane. That's no good. That doesn't work out too well If they can regulate first, here's the thing. They're gonna they're not gonna get it right Let's just be honest But we did get it right in the past law 230 which I talked about this on the show a ton is when the US Congress got together and said You know what? We're gonna regulate the internet what that allowed people to do is that? Website owners blog post owners and everybody else who's on the internet who had some type of property online They wouldn't get sued for something that that someone would say on their platform So that's what allowed it to flourish. They didn't have that it wouldn't have happened people like I don't want to do this Because there's just too much risk. So here's what I'm talking about. I think there should be some regulation and Yes, they will probably get it wrong because they don't know what they're doing right now And that's why they're going so slow, but I think it can be done I mean for Pete's sakes we can put a man on the moon Allegedly, I know people are gonna say whatever on the moon, but I think we can do a lot of great things So getting into this The CFTC is requesting greater regulatory oversight including pre and post trade transparency All right, not the best and this is where I it just hit me like a like a ton of bricks I'm like, I can't I'm so naive in addition to a hundred million in funding Is what they want to add to its existing three hundred and four million Already put aside in the federal budget. So first of all the good news is that we're talking about it The good news is that it's bringing forth. They're like, you know what? We want to regulate We want to get this done We don't just want to just push this to the side and just have all these companies leave and send and and the animal Tell you why this is so good cuz Sam Bakeman free ties it up perfectly, but I can't believe I'm so naive I didn't just think about like duh of course Of course This is why the CFTC and the OCC and the SEC are fighting amongst themselves to see who can regulate it It's because they want funding for their markets for their departments. We did the exact same thing in the military We wanted all the funding to come to our departments And of course we would talk about how much we needed and we would just make this huge case and tell what actually we got all the Money, it's the same thing in the government. So it only makes sense to me about why this would happen I'm like, oh Sometimes you're a moron And yeah to finish this up This was the great part FTX CEO Sam Bakeman freed offered the counterpoint that crypto futures trading Data was free to access by all participants and provide adequate transparency He did concede regulation of digital assets contained holes. So I mean, he you know, even he knows like look You want to regulate? I'll throw your bone. We should do a little bit Bankman freed out of the Patrick of regulation without a clear regulator meant there were risks to consumers Systemic risks and a lack of clarity for the industry now this last part I don't care if you weren't listening the very beginning Just listen to this paragraph This sums it up and this is why america will get involved And this is why russia had beaten the pants off us and all the And the entire globe was beating the pants off the united states into getting into crypto. He states This has led to the state we're in today where despite the majority of the intellectual property For the digital asset industry originating from the us 95 of trade volume occurs offshore. I'm going to read that one more time This has led the state we're in today where despite the majority of the intellectual property for the digital asset industry originates from here 95 is out there. What does that mean for congress? What does that mean for the government that means they can't tax it And if they can't tax it they're not getting revenue And of course we just had a great little session of quantitative easing printing money to oblivion Don't you think that maybe the united states would be like, hmm Maybe we should do a little regulation so people stick around and we can tax live in tar out of them and do that Just my thoughts. I could be wrong. Let me know what you think about that in the comment section So I think there's good news on the horizon. We're actually talking about it getting things done Just move in the right direction. I know they will mess up, but it's okay Just give me the rules to play And I will work around those rules To my benefit and that's pretty much how business works. All right So, uh, that's it for that little uh, tasty piece Got a little hyped up there and let's go on to second to last which is 10 trillion asset asset under management black rock apparently is getting into The crypto game and I want to preface it is this is a rumor And just because it says this don't get so hyped up about it because not too long though There was a rumor that light coin was going to Be accepted by walmart and they're working together. You know what that happened All it did was it pumped the light coin bag holders They they dumped on people and then they got away now. This is different, but they're just rumors So this is what's going on Oh, let me blow this up so you can see it. I can barely see it black rock The world's largest asset manager is preparing to offer a crypto trading service to its investor clients according to This is the best part according to three people with knowledge of the plans. So again, just a rumor Not verified just three random people and maybe they're reliable sources Would coin desk lie to us any on the new york-based company which manages over 10 trillion assets for institutions Plans enter the crypto space with client support trading and then with their own credit facility One of the people said black rock will allow its clients Which include public pension schemes endowments and sovereign wealth funds to trade crypto through a laden Which is stands for asset liability debt and the root of investment network The asset managers integrated investment management platform the timetable for unveiling the service is unclear So don't get your hopes up because I will just say as a Just looking back that's larry fink. He's a ceo of black rock. This is from april 15 2021 He thinks it's great, but he goes look my institutional clients aren't interested in it So we're probably not going to offer it now. How many times have we heard that exact same reason? And then they come out and say ah, we're offering it just We were just accumulating the background. We just didn't want to tell you but That could happen, but the story itself It's just rumor and it's just people who said that it could be could it be true. Sure. Why not? But it's not something to hang your hat on but like, you know what sell the kids Sell the house sell my kidneys. Let's pull on bitcoin easy Just be a little bit safer out there try to dollar cost average and not go too too nuts And that's what we got for that. We'll finish up with a little story IMF and the world verse seller. This was a I get this daily newsletter it's called the daily upside and it just kind of keeps me grounded into what's going on in the macro world The traditional finance because I can't keep up with that stuff. I mean, I have a hard time keeping up with crypto But I found this fascinating Because they're talking about first of all it was like Sri Lanka. It's about Sri Lanka It's on the brink of default and what they say here is Sri Lanka made its first venture into bond markets after a civil war ended in 20 2009 I had no idea from there's a civil war the country has since assumed a hefty debt position 15 billion in bonds This is important most of them dollar denominated and 45 billion in long-term debt This year alone Sri Lanka has 7 billion in payments due But they're not going to be able to do that two factors 2019 Sri Lanka's government went on a tax cut binge Let the 33% decline the number of registered taxpayers then kovat 19 hit of course You know if you're a a country built on tourism You take a huge hit So the government's got a 1 billion bond repayment due in july It's unable to pay Sri Lanka It will join Suriname Belize zombie on Ecuador's countries that defined that defaulted since the pandemic vn And this is the crux of it a bailout from the IMF or international monetary fund is the only credible option to do Isn't that how it works? Do you want us to bail you out? We'll bail you out, but unfortunately We will get to we will do that But you're gonna owe us big and this Let me screw up here Comes down to this El Salvador is getting beat up upon by the entire world El Salvador angrily rejects IMF call to drop bitcoin uses is on 31st of january But you have to remember IMF has come to them pretty hard on numerous occasions going we can help you We will do this we will put you into Dollars we will give you loans We can do bonds we can do whatever you want to do But you have to come with us and join us and El Salvador was one of the only ones the only countries So you know what? We're not going to do it now. What if they had done bonds and all these things? I think they would be defaulting Just like I mean maybe I don't know how well El Salvador is doing I have no idea, but they made the other choice They took bitcoin they bet on a big time They built jobs around it people started to support them a lot of big names actually started to support them And now they've got plans to build even a bitcoin city as everything starts to appreciate So the question is who's gonna win? Is the IMF gonna win? Well, we've had a long time to do the best things they could do Or is places like El Salvador and potentially turkey and other different places that might potentially pick up crypto Hopefully, I mean bitcoin digital assets in the future the war rages on The question is who's gonna come out on top? So let me know what you think about that in the comment section and that is it for today. So look That concludes the news if you want to stick around for the q&a fantastic. If not, uh, hey, you got things to do I'll see you later. So thanks so much Thumbs up subscribe and all that good stuff. Now. Let's get into a little q&a All right Let me give her this banner pop-a-bop Uh Comments What's the good news? What happened? I think this is the beginning Okay It is life Justin says unfollow. Well, I'm sorry Justin. Don't hit Don't get hit. Don't let the door hit you on the way out. So I'm not for everybody Uh, can you stay longer? Yeah, sure. I got a lot of things to do. I got to go with a doctor's appointment I'm getting ready to hit the gym. Whatever just another boring bitcoin day Let's see Bitcoin of 40k surey Yeah, so everybody's So let me go back here because everybody's like dude bitcoin is is getting crushed It's dumping Okay, let me see Let me refresh 43,430 It's not a dump. Just relax and actually It kind of goes to my point about the whole volume One day percentage down and things like that. So just be aware But now it's not dumping. Jeez I mean, if you're from traditional finance and it's dumping 0.59. Yeah, maybe so This is not live Danny. This is life It's fake okay Daniels are all described don't let the door hit you in the way out Man people get ticked off I don't know what they're going through. So, you know, maybe you're having a bad day. It happens Let's see Dude, some people have a bad day. All right. They have the question. Of course. All right I know man Delicast average Okay, finally a question This'll be the last question. Well, we'll go for some more. I don't if you're gonna troll. It's fine I don't know. I can doesn't affect me. So what tax tools do you use great questions? I try to use the accounting and coin leave but both don't have terra luna and adam So I use coin trader Crypto trader coin trader crypto trader dot tax. There's a link in the description 20% off. I've used it for two years straight They opened it up Did the api integration and now it has voyager integration also with uh with dexes as well for your and also open c That you can get it and uh take me 30 minutes send it off to my cpa and that's it. All right Sell rob coins to scan. Yeah hold on scammer I think you're you're you're confusing that with a shiller. There's a big difference Yeah So hey, I shill every every time I can that's what it is All right. Talk about inflation The number is depending who you believe it's seven percent or 15 percent depends on uh The people who listen to james over the best answers is dead set. It's like it's 15 percent. It's awful Or maybe he said 12 percent that's somewhere around there, but he doesn't believe it's seven percent Uh, let's see Ah, let's see. Let's see. Let's see Yeah, salty people This is a good question and we'll leave it at this Ah matt says do you think that the news cycle focusing on potential war with rush has any to do with their adoption of crypto And the risk to the existing financial system Ah With well first I gotta ask you with their adopt. I'm guessing you're thinking that the rush is adoption for crypto I don't think that's the war has anything to do with it With russia. I think why russia wanted to adopt crypto was a very simple reason Well, there's two reasons first of all russian citizens have between 25 and $215 billion with the crypto and uh, they want to tax that So that's one reason and the second big reason would be they want to get off uh using the reserve currency of the world The u.s. Dollar and if they can use crypto and digital assets, then um, that's so much the better Great way to avoid sanctions. Just saying all right and let's see Well, thanks everybody. Thanks. I get a ton of hate in the beginning. It's on a love at the end. I don't know Listen man trolls gonna troll. I do for the trolls. You kidding me? That's the best part. I saw Little story. There's a guy named our lady or a group of people named xrp freak I haven't seen this this person for like Months and then yesterday, uh, he was in a live stream with me and she hand Which is a good video if you're if you're looking for like tax advice She hands a registered cpa with and he specialized in crypto And this this person xrp freak uh came out and says Rob's a scammer you shouldn't shouldn't listen to him. I was like, oh my god. It's like it's like nostalgia. I was actually happy he was there Be presence says we've been around your channel for a while. Just please disclose your portfolio. Oh, it's vast Just go watch any of my awful the Price prediction videos. They're all there. It's like 40 different cryptos and they haven't really changed too much You know, I think I've added in is uh near The layer one solution and That's it. Oh well. No, um, I got meld. So meld's a pretty good one. It's uh built on cardano and then again sukiyoshi Uh, because you know, I think game is gonna be Has real world utility as opposed to some of these things What's the next 21 a dollar cost average? Uh, it's just what i'm doing today Which was bitcoin and ethereum and I did uh engine. No, not engine. That's not right um not cardano avalanche and Oh algorand I keep forgetting algorand's my new one that I think's gonna be pretty big, but uh, I could be wrong. So anyhow, uh Thoughts on ikami. No thoughts on kodi Currency of the internet, uh, could be big just depends on how well they execute We'll find out. Oh and then phantom. That's right. I have bought a I have bought a bunch of phantom. Thanks for reminding me Do we have to report crypto if we just buy and hold depends on which country you're at in america? No, you just you buy it and hold it as long as you don't as long as you don't transfer it into stablecoin or sell it for fiat Or transfer it into another crypto. You don't have to report those things And uh, but talk with your cpa. I'm not a cpa. Obviously Okay, and that's it. Look, I gotta get out of here gotta go to doctor's appointment So that's it for today. So if you like today's video thumbs up subscribe all that great stuff I appreciate it helps out with the algorithm also. I'm going to put two more videos right here So you can watch continue the digital asset news experience watch some more videos And that's it. So thanks a lot for watching. I appreciate it and I'll see you on the next one. Bye