 Well, everyone it's happening It looks like Binance is going to be the big winner here as they look to buy a voyager It looks like the bid was accepted for 1.02 or 1.03 billion dollars So we're gonna take a look at the deal for what we know right now And we'll take a look at is this deal going to get FTX and what are some of the inner workings also? We'll take a look back in the early days of the Voyager bankruptcy to take a look at just how much We're gonna take a haircut and now we'll take even more advanced look into July 2022 Which was the early days or the very beginnings also of the bankruptcy itself and very able to do a little Q&A So first things first we always want to start off which is to remind everybody that hey You can still get a lot of satoshis for a dollar and this is from yesterday You can get a dollar you get five almost six thousand satoshis today We do this again. Let's say $1 6,018 satoshis now I don't expect this to last very long But it's just something in hindsight when people start to peruse these old videos just to see what the price action was like wow I get I got in six thousand satoshis for a dollar and now look at it It's only two thousand for a dollar or whatnot. So Just a little reminder that you don't have to buy a full Bitcoin. So here's what we got So the Binance deal, I didn't think this was gonna happen Especially the things that are going on but Binance pushes forward. I woke up this morning. I thought to myself. Well, that's odd I just see vgx token up in the top 30 for some reason I said, no, that's that's amazing. The market is so bad. The Voyager token isn't the top 30 and up 5% today And of course, that's when we heard the news which was Binance just approved the deal However, since that time, I don't know if this was a glitch in CoinGecko But at that point was the price 30 cents Now we're looking at 35 36 cents and it's up 22% but it's ranked 204 So I don't know what the heck happened here with the ranking but regardless people seem to want to Buy Voyager the vgx token just because Binance just because Binance bought Voyager and We'll see how that works out for you. I personally am not gonna buy any vgx token, but I'm not a big trader So here's the story which led us all to this so Binance.us to acquire bankrupt crypto exchange Voyager's assets for a billion Weeks after FTX deal filled. I gotta tell you it must feel good to be CZ You know just the coin coming there. I'm like, well, you know, I kind of crushed the hopes and dreams of FTX, but let's be clear The hopes and dreams that were crushed by FTX was FTX FTX was the screw-up It wasn't because of some tweet that the CEO of Binance did because of things that were going on in the background So let me just make that hundred percent clear But also now CZ, you know gets to come out and like hey I showed you the you know the problems in the pitfalls for FTX now I'm gonna bail out Voyager and I gotta tell you starting to love this guy However, just to take everything with a grain of salt because the question is this is actually gonna go through so The company Voyager had a billions of dollars with a crypto at the end of 2021 But a broader market downturn and a series of bad bets Including two three-hours capital element research chipped away at the firms available capital now on this show I've been talked about this quite heavily Voyager. I use them Extensively I talked about using them all the time because I believed in them unfortunately or fortunately however you want to say it Because they were a public company It came to light that they did an uncollateralized loan of our roughly 640 million dollars to three-hours capital and because they're public we found this out And that's the date run June 22nd somewhere around there when I told people that I can't keep using Voyager Probably good idea to take your money off because who the hell does that? No, here we are. So in this situation That's what they had back in 2021 moving forward Voyager Falver bankruptcy protection July 2022. I think was July 5th. Correct me if I'm wrong here The time of filing the crypto exchange had approximately 1.3 billion in assets. Let me say that again roughly around July 5th Voyager had 1.3 billion in assets But was owed over 650 million by three-hours capital. So we'll just say We'll just round up 1.9 somewhere around there 1.9 billion And that was compared to 5.8 billion worth of assets at the end of 2021. Remember, they're pricing this in dollars They're not saying how much Bitcoin they have how much a theorem they have. It's all in dollars. That's important to think about Voyager said that Binance that US's offer represented the highest and best bid for its assets after a view of strategic options With the core objective of maximizing the value return to customers and other creditors on an expedited time frame Look, I don't care how the money gets back to us. Just make it happen. I could care less I know as many people out there like well, we want the Voyager platform to continue We would like it to move forward. We like this and Look, I mean it might happen, but here's the deal that we got and this is the deal that will probably move forward now In some way shape or form we're gonna see more as the information comes out for the court filings and things like that This is just a preliminary report about what we have, but it looks like Binance is going to buy Voyager, but the thing you have to think of look back is this well if they bought it for roughly 1 billion Let's say 1 billion Let's look back in the early days of the bankruptcy. This was a screenshot from the Voyager UCC from the Twitter Spaces or that or that. No, sorry. That's where it's basis. They're YouTube that they put out and this is the balance sheet of Voyager as of June 30th, 2022 June 30th This is what they had When everything pretty much collapsed they had about and this is in million. So they had a hundred and four million dollars Total crypto loaned excluding Three arrows capital when I first really I thought it was for example through his capital But no, it's excluding through his capital total crypto loan 470 million total crypto held 685 million. So right there you're looking at, you know 1.1 billion Total crypto held alone 1.2 Excuse me 1.2 6 yeah 6 10 1.12. Yeah, excuse me 1.2 billion Three arrows capital loan recovery to be decided that was that total recoverable assets 1.2 And of course total unsecured claims 1.8 billion dollars and that was just on June 30th. So remember We've dropped a little bit since then We have so If we take a look at this And we take a look at how much was everything worth Roughly in July because this is on June 30th This is from coinmarketcap.com forward slash historical you can find this quite easily Just go to coinmarketcap.com click on the historical tab and I'll show you how much things were worth now today Is the 18th I believe? Compare some prices real quick. Shall we? so Bitcoin back then was worth 19 to Bitcoin today is worth 16 6 Ethereum was worth over a thousand dollars today actually a theorems up 1,175 Tether's number to the tether finance coin 218 back then today 245 XRP was worth 32 cents on 3rd of July today. It's worth 33 cents Dogecoin Cardano, I gotta tell you July's Actually pretty steady in the top 10. Dogecoin was worth almost 7 cents on the 3rd of July. I think it's even worth more now Now about 7 cents Cardano 26 cents Cardano back then was worth 45 cents and so on and so forth So we dropped a little bit if the lion's share of everything that was held was Bitcoin Ethereum Well, Bitcoin's taking a plunder Ethereum roughly around the same so the question then is what is the haircut going to be? We're all gonna take a haircut That's okay. This is much. I think this is a little better than in chapter 7 where everything gets liquidated Which honestly back then it would have worked out pretty well in our favor because everything's dropped would have been done pretty well But again, we would have had to pay for the lawyer fees and all the different different fees for Staff of Voyager and whatnot, but this is what we have and We'll see if it goes through however. There's one thing in the background that I'm thinking about which is this The US Justice Department is split over charging Binance With some issues and what they're trying to they're looking at is this The investigation began in 2018 This is here in America Department of Justice and is focused on Binance's compliance with US anti-money laundering laws and sanctions so If they do move forward that would throw a big wrench into what's happening right here So just because this is happening doesn't mean it's a guarantee Doesn't mean that it'll actually go through It's just one of those things where Hopefully things work out now. There may be other issues. There's been some some rumblings of insolvency with Binance But to date no concrete evidence has come out. I'm not saying it isn't there I'm just saying that so far nothing's been proven like say Voyager Celsius Blockfi FTX insolvent insolvent insolvent insolvent so with Binance right now going we'll pay a billion dollars Okay, if it's a dollars dollars, that's one thing if that hopefully I don't They don't pay in BNB coin, but that's what we have. So that is it for today's news I think this is the big one. I mean there's other things that are going on but To me personally, hopefully We get most of our funds back What's gonna happen is that they will be open in Binance that us account and you'll be able to go that I don't know how that's gonna work especially for me because I'm in Texas in Puerto Rico I don't think I'm not for sure Binance us is available in Puerto Rico. I know it's not available in Texas So that would leave me open to how do I get my funds back? But that's for me to worry about not you anyhow, and that's it now what we'll do I don't want to talk to you. We'll do a little Q&A And then also just as a reminder yesterday, we did did this the live show We did ten minutes of Q&A and we did a Twitter space is it was great There is a link in the description You can check out the recording and it was good just to talk to people who are in the comments all the time but actually like talk to you talk to you and We answered some pretty that's a pretty good questions a lot of things that were going on that You can't really do here on YouTube so you can check that out of the recording It's like 20 25 minutes of that but that is it what we're going to probably be moving forward is that once a week We'll do Twitter spaces so instead of you typing to me and asking questions You can go to Twitter spaces and actually talk to me and it'll be a longer format We can do whatever you want over there. So that'll be I'll start this week. So we just did on Sunday. We'll probably do it again Yeah, let's pick a day Thursday every Thursday. We'll do it. We'll just do a long session over there Maybe Thursday or Friday, you know what I'll do a vote and you tell me which what days are better for you There is a Friday, but that's it for today. So look like today's video Give it a thumbs up consider subscribing a lot of things we talk about our very time sensitive But that is it want to take off take off. You've been here 12 minutes not too bad of a day Now let's get into the Q&A I'll answer all your burning questions the best of my abilities and we'll go from there. So Out of here interesting day dig swimming Dave Hello, Vicki, please like the video. That'd be nice JT's here Gary's here We can do it Twitter space about when to do it Twitter spaces Dez is here Charles can cannon Charles any updates on tax strategies for the end of the year. Yeah, we did a video Let me show you And And it was it was all over about tax loss harvesting wash trading and a bunch of other stuff Let's see. Where did it? And just so you know YouTube changed up some things and now there's different tabs videos live posts and stories When you look for some things just know that the Q&A we split the Q&A that'll be in videos But Ah, here it is But for the live streams you have to click in the live stream tab here we go so to answer your question Charles It looks like this. So There's a video just called do this now if you have crypto losses in 2022 hint everybody does. I mean if you realized or unrealized Do this before December 31st. It was about a week ago and we had on David Kimmer from coin ledger and he talked about things do is first tax loss harvesting It's it's a pretty easy process. You sign up with coin ledger, which is free You don't have to pay for anything unless you want to run a report for your cpa or your accountant And you can see all your tax loss harvesting opportunities And when you take those then you can Offset some of your losses just so you know that as far as like income you can only offset up to $3,000 per year If you take a lot of tax if a lot of losses this year you can roll them over to next year in the year after that The year after that. Also, it's also a good strategy to take off losses Or to offset your gains if you have any from capital gains, which are unlimited So we talked about that check that video out and what am I doing? Yeah, let's do this I'll copy it. Let's see tax loss harvesting video Be right there. I'll drop it in the comments That makes things super simple for everybody trying to save you all time You're welcome. Okay. Yeah, please like the video I have buy into in a us in indiana. That's good Vicki's driving Driving and listening nothing wrong with that Wow 30,000 a month for a steal. It's pretty good Shrimp sound full force Hello We're not all george Happy monday I think I need bitcoin to 30x to cover my zilica spend Benny's here. Thank you, Benny for all things you do on twitter. I appreciate it Let's see. Let me go up here. Uh, let's see and nick is first shout out to nick for being first Yeah, wild. It's amazing. I mean, hopefully youtube notifies you Let's see Yes, like I tell you it's an early christmas present my my opinion Why is from pimping sats? It's because I want everybody to know you don't have to buy a full bitcoin You know, everybody gets gets hung up on the fact that damn I got to pay You know $17,000 for a bitcoin. No, you can just buy satoshis And it'll be interesting as time goes on and we get to the price of bitcoin at some point being You know back to its all-time high of seventy six nine thousand then maybe goes a hundred thousand People will always thank themselves. I need a hundred thousand dollars to buy a bitcoin. That's not true You can buy as much as you want just As much as you can get into that's why they have satoshis It's just interesting that in the future you're going to be able to see like wow a dollar only buys 2000 satoshis Man, I remember this video from 2022. It was almost 7 000 satoshis amazing or less Lumix says if finance does buy a voyager, what would be our haircut about 15? I don't know like these numbers some if you've got If you're buying it for a billion, let's just do some quick quick math here If you're buying everything for a billion And the total crypto held the time of the snapshot was one point Let's just say 1.3 So the total recover assets is 1.3 roughly right and then they also loaned out. I want to say 640 million roughly To three hours capital and that was a loan That I like to get back so I don't know if they have to take that one back if they take a hit I guarantee I'm not going to guarantee anything actually But usually what it is is people would loan things to throw his capital thinking that they get all this great yield Because these guys were geniuses and actually what they were doing was Well, I don't know It remains to be seen exactly what they were doing because they're going to blame everything on sandbacon freed and ftx So let's just say 1.8. So you got 1.8 minus 1 billion You're looking at a you know 40 percent haircut roughly correct me correct me in the math department but uh I mean I had zero percent or I had I had 100 percent haircut yesterday. So not too bad How long do you think spf will be locked out for? I don't know if he's gonna chase It might be some minimal jail time I'm not sure Not sure how bad it gets I mean Look, uh, bernie madoff spent his entire life in jail after he got caught But it was I think he's he was going for I mean decades in jail So who knows? Yeah Yeah, exactly. I'm happy with the voyage about now. Give me what's left of my crypto. I'll take it off the exchange What's wrong with that? I can see that totally Stephen says have to sell and buy back to harvard losses right now You don't have as as far as like tax loss harvesting you just sell And that's it. You take a that's tax loss harvesting when you buy back That's called wash trading and that is illegal in equities and securities thankfully to date um Gary genzler who watches the show all the time he There's no enforcement that says that things are our securities He believes they are securities, but until congress really gives them concrete evidence that he's just uh Regulation through enforcement Looks like someone's got a case of the monday's office space classic Man, yeah, that sounds good r I Read joker. I think I'm starting a youtube channel any advice. Yeah, it's super simple Uh, make sure that you have a schedule and stick to that Make sure you just show up and just keep uh keep going You're not going to sound like yourself in the beginning It's going to take you a while to find your particular voice You'll probably watch other people and just kind of you know lump that all together But at some point you'll find the way that you do things And the way that you do thumbnails and all those stuff So the thing I can just tell you is that if you're going to start it start it This is probably the best time to start it because no one's watching nobody's watching So you're going to afford to screw up like whatever. I'll just be here Some dude is in your pool. You know, okay Maybe I don't know how that's pot. It's a green screen Let's see poison the pool again Hey tesla Yeah, I'm still waiting for my eat. I'm still waiting for my eat than my Five bitcoin that are sitting on celsius right now Roughly Maybe it's four and a half. I don't remember Jeff's got a good point. So far the only winners in celsius are the attorneys. Are you writing that off as a zero? you can and We're gonna have coin ledger in talked about that and their cpas But just so everybody knows how much celsius is making the lawyers themselves. There was a great tweet. Let me pull it up Which shows you how much the lawyers are billing per hour? now this is from friend of the show simon dixon and The partners are billing per hour 11 95 to 20 to 45 Council a 20 a 20 20 125 Associates 685 and pair professionals. Wow 295 to 585. So that's just happening. That's our money As they fight this legal process because for some reason they just can't get it together to come up with a plan Which is amazing to me because block 5 did it with them in my 24 hours of them pushing out their Vancrepsy, but uh, yeah, we'll give them till february so they can say oh, we couldn't do it. Sorry I'm not angry. I'm just a little perturbed yeah So if I'm under any wrath ira me at $7,000. So yeah, I need to get my My iTrust ira and max out Which is a this is a pretty good time. I should buy things I need a coffee had a rough had a rough morning had a rough morning Went to go play a little volleyball on the beach here in portorico and nisla are they nice place and uh messed up my knee trying to do is do a little bit too much, but I'm okay That's why god created beer and sofa So you can if you have an injury easy just sit on there and do nothing I failed some mining. What's up, and I'm your channel a long time. So that's good A lot of people are actually stopping stopping. Uh, subscribe me to the channel and you know the views go down the bear market It's okay Like uh, I show you I have lost But this is what it's this is just the natural cycle, you know so people People come and go and that's okay. Like it's kind of boring. Honestly last Month or so I've lost about a thousand people subscribers and of course views are down too, but I mean it's it's like I tell you I tell people again. It's it's not it's not that It's not that the price action is killing people. It's the boredom that is killing people That's the big thing chopping sideways and going down one or two percent every couple of weeks is just boring as hell That's it Yeah, that's it. That's okay. I'll see him in the in the in the bull market hmm This is a good question Do you think the irs will be allowed to analyze ftx groups trading history for tax collection purposes from us citizens and us registered entities? I think they do it already if it's ftx us um I'm pretty sure the reason why you do kyc and aml Know your customer or anti money laundering putting your social security your date of birth or something like that There's because they're going to report that to the irs. You know, they already know So if you're an american citizen, that's just how it is sorry And uh, yeah, so they'll probably look at it, but there's a difference between ftx international and ftx us so trust me But the farm of justice is is greedily looking at all Ftx definitely because if if they want to look at and build a case They're going to have to look through the financials and when they look at the financials Guess who else is going to want to look to that probably the irs That's it Would you ever have developers for ocular swallow? Sure. I just I've reached out to them a couple of times. No answer I've asked them if they could deliver here to portorico. Nope and uh, yeah, so I guess It wasn't like I was I mean, I would have paid for the damn thing and just couldn't get it here I put I put my thumb down on the thumb up hilarious Yeah, beach volleyball for me come to Panama I'm already I already played here. I'm good to go Now is the best time to watch crypto youtube potentially it could be I hope rob you will run Until our next bull run. Yeah, I mean, I'm going to be here till the next one I think I'll probably be doing dailies all the way until the next bull run and then the time when I sell and get out probably take I don't know like I thought I was gonna actually pull out A little bit earlier and start to do like once a week videos after this bull run But it's fun. It's fun to do these videos and again like what else am I gonna do, you know so I don't really need to work work And this is pretty interesting to do so I get to hang out with you guys all day or at least an hour a day Give me something to do Uh, I thought actually in the practice bot trading I just come for the view. It's a nice view Ha Johnny says my wife unsubscribed for me this year. Thank god That's right And beardy says it correctly The military shot just taught me to show up Hmm should be a race team owner. I have no Inkling or no inclination to get into that And random says rob aren't you too deeply invested just let go of the best period come in the crypto Yeah, but I mean like we're talking about videos. We're talking about doing videos Stuff like that like right now and we talked about it yesterday. If you haven't had a chance to watch yesterday's video Which I personally thought was was pretty decent And it looks like this. Let me share It's this one It was the 2023 ROI outlook and for me. I just did a did a comparison between all the All the months for the four cycles and we took a look at the having months the all-time high months the dip which is the The the months after the all-time highs and then the resets And I was just showing people that you know in all honesty like This next year coming up will probably be the Probably one of the better years to invest because things are going to go down so low Just like it has almost every single time in the four year cycles and I just showed you that in reality in the past You could have had Like if if you would invest it in in 20 started in January 1st 2018 To the top of bitcoin 21 it was like a it was like a seven and a half X but if you just would have waited until 2019 and invested jenior first went 19 to The top the 2021 it's like It's like a six and a half almost seven X is almost the same damn thing So it's like the year we just got up was pretty crappy This next one we're going to go into we're going to see some I think some steeper discounts And this might be the one to get into again. This is just what I'm going to do But yeah, just take a look at the data. That's that's all I can show you Okay That's it Well, he definitely got a deal on that 400 million cheap and the fdx was going to going to pay Yeah, we definitely got a deal dev sees he got a deal because yeah, that's right. It's 1.4 billion Let's hope this one goes through because if this one goes through then the next one will be like, hey I'll buy you for 500 billion Or 500 million. That's it take it or leave it suckers That's it for today. All right, everybody. So thanks so much for stopping by. I'm going to go head in Ice this me and that's it. So I appreciate you guys. Thanks for coming by and I'll see you on the next one Adios. Have a good day