 Welcome to the last set news or Dan for short. My name is Rob. Today is the thumbnail and title suggest it looks like France is coming up big with crypto I want to talk about What the finance minister said and how it just seems like everything that's going on in the background is now becoming light Then we'll take a look at what Walmart is doing with crypto and it's not just that they're offering payments in-house That's not what they're talking about. They're talking about virtual payments and things behind the scenes We're gonna take a look at the CFO or the CTO as he talks about what's going on Then we'll talk about crypto isn't for fraud. It's actually the banks we'll take a look at what's going on with Deutsche Bank and then lastly I just want to talk about a Comment that has been made in the past which is is crypto occult and yes, it is and I'm gonna tell you We're in good company So we'll go over all those things and we'll do a little Q&A at the very end So first things first the first one is France announces they want to be a crypto hub and this was from Blockworks and talk about how the France finance minister says we want France to be the European hub of the crypto asset Ecosystem and it's not just what he says. It's about the reason why he's talking about that and This just gives me hope for America because America is doing the wrong things I think we are bickering and arguing over just the small groundwork and that is the the sec in the CFTC And I know Gary watches the show so Gary. I'm just gonna plead to you right now if you could set aside your pride and the things that you believe just for a second and make some concessions and work with the CFTC and Actually drop that frivolous lawsuit against XRP. That'd be or a ripple. That'd be fantastic Let's just move forward because if not we got things like this where France and other European countries just passes up Passes by and I can just see this is where things are going now to break this down to what was actually said This is Lamar and he is I think I nailed that one He is the finance minister. He says we want to make the European Union the world's leading Economic zone for structuring and organizing the crypto market. We want France to be the European hub great This is on top of the EU your opinion. You just agreed to its landmark markets and crypto assets law Micah and you know 667 eight months months ago. We're talking about how that could have been a disaster But thankfully cooler heads prevailed and it looks like they're going forward with PO proof of work in different crypto This allows crypto companies to operate across the block if they meet investor protection and stability norms so we get this from the Finance Minister and who jumps on board? Well, Binance and crypto comm have registered with the French authorities under legislation Which anticipates some of Micah's aims? So no, they didn't just come in just because of this one statement. Look these guys They're huge and they know what's going on behind the scenes I mean I mean CZ Binance is a billionaire I'm pretty sure and it's not like he doesn't have his ear to the ground or the people that he works with ear to The ground knowing what's gonna happen. There's a reason why why Binance branches out into into France And we get stuck with Binance us which is only available in certain states here in this in the in the US but whatever So this is what is going on? and then That's interesting part here It's not just here by answering crypto comm but it states but French lawmakers have protested the government is not doing enough To encourage web three entrepreneurs and why is that? taxes We want to use the year 2023 to deepen our reflection with stakeholders in order to identify if new Adaptations to tax legislations are necessary. So I've talked about this on the show many times and it's the same thing here Crypto is not going away. Bitcoin is not going to zero crypto will keep growing some Projects will go to the wayside just that's just how it is But it's not going to go away because there's too much money in taxes. I cannot say that enough There's a reason why they want to bring innovation there because innovate Asian you can actually tax So I'm gonna think about that in the comment section. I see this as a bullish Statement and now the next one is even more interesting. This was The Walmart story the Walmart CTO weighs in on the role of crypto He says crypto will become an important part of how customers transact and I gotta tell you I don't use any crypto for buying anything I don't know if you do that sound often the in the chat or the comments But I don't go and pay my taxes with Bitcoin I don't go to the store and pay for anything with with with crypto. He doesn't make any sense So like with this one, I just I look at I'm like, what's really going on this The actual article doesn't really tell you too much. It's in the interview. So this is what was said This is Walmart CTO a chief technical officer says I think a lot of disruption is going to start happening in terms of different payment methods Different payment options crypto is going to continue to play a very important role in that But that's not the story. The story is what he says here. Listen to this. This really comes down to Not just web 3 but the virtual and the metaverse You are the global CTO I can't let you go without asking you about crypto because Walmart did make some headlines at the end of last year when you Filed a number of key trademarks that appear to point to the company's intentions to sell as well as market virtual goods You already got blockchain technology integrated into the system here. What's the rule of crypto in Walmart's future? It's a great question. I Think that there are three major areas of Disruption crypto falls in sort of the the middle of it. I have talked before about the way in which customers are Getting inspired and discovering products that is changing And part of that is going to happen in the metaverse part of that is going to happen You know on live streams inside Your social media app So whether it is physical goods or virtual goods They play a part in terms of what the customer wants Crypto Will become an important part of how customers transact We want to make sure that if we make it as friction free for for customers to be able to to transact and to be able to buy And how they are able to drive value out of it, right? And that is where I think a lot of the disruption is going to start happening in terms of different payment methods different payment options Is going to continue to play a very important role in that and obviously we want to To be there where the customer really needs us to be the last part of it is how products get discovered products get delivered Lot of disruption going on over there, but Okay, great, then he goes on for about delivery, which I get which is an important problem I get for a Walmart to have but what he talks about there is just it makes sense We're talking about the metaverse and the things that are being bought inside the metaverse not right now Obviously, but those those virtual goods. I know it sounds ridiculous to some of us Just like maybe the internet sounded ridiculous to us not too long ago Or maybe having things delivered to your house by a company that was one at one point Just a bookstore called Amazon that sounds ridiculous too, but now here we are and we rely on those things So maybe as time goes on what Walmart is talking about is we want to be able to be with a customer is again I'm not using crypto for payments But now the countries I can see it in the metaverse I can see it especially if you want to buy some kind of digital good and move from there Which is often by Walmart and of course, we'll see how it all plays out But again patents patents already being underway for Walmart to get into this space And I see it as a as a bullish Statement and lastly I will say this if you're looking for a Protocol that is looking into that pretty heavily take a look at Boson BOS on protocol.io. They're doing the same thing They have a belief that everything that we have which sounds to me it even sounds ridiculous Everything that we have in the real world There will be a digital version of that in some type of web 3 you're some type of metaverse play and of course How do we do that? Well, we have to enable transactions and I don't think it's gonna be debit cards and credit cards I think it's gonna be web 3 wallets like I met a mass moving forward So let me just think about that in the comments and then almost to last Crypto is not for fraud. That's what the banks do and this was a nice little article which I I Take great delight in sharing with you How German prosecutors search Deutsche Bank HQ and tax fraud probe Before I read this I know there'll be some funny comments. So I welcome all comments Here's what we got in connection with an ongoing investigation of the multi-billion euro tax fraud scheme known as come X Deutsche Bank said on Tuesday. What is come X? It's a great question come X Banks and investors would swiftly trade shares of companies around their dividend payout during blurring stock ownership And allowing multiple parties to falsely reclaimed tax rebates on dividends. Well, that's an awful thing That's been going on for quite some time early this year prosecutors rated Deutsche Bank and its asset management in unit DWS over allegations of Misleading investors about green investments So this is not the first time with Deutsche Bank or a lot of banks that are out there I'm gonna talk about green investments. You know what that is ESG and they got busted Because they were hiding different things and allowing different corporations and entities to get away with not investing into ESG's pretty much picking winners and that's why I say on this channel ESG is a fraud and Investors don't care about that the majority They just want to make a profit this ESG nonsense is out the window But hey, that's what people believe in so sure and then lastly government officials say it involves some 100 banks on four continents and at least 1000 suspects so again as we talk and we move forward and we talk about and we hear this the same narrative Which is crypto is is for fraudsters and it is for illicit activities and drug runners and cartels and terrorism And it's just nothing but bad stuff look at the banks first and that is the first part and the second part is As we take a look at the banks and their downturn, I also want to take a look at how people are preparing for I believe Another economic downturn. I Don't think it's outside the realm of possibility that we're gonna have a recession in 2023 if we're not in one already That's debatable. That's another video, but this was a It was a it was a summary. It was a chart a poll from CNBC 76% of adults are making lifestyle changes to prepare for a potential recession Crank you a new survey which if you think about it 76% it's pretty good, right? Three out of four, but then if we take a look here like well How what are you doing and out of all these things delaying major purchases like a home or a car a third a Third of people are delaying the purchases like a home or car and some people are like nope I'm buying it right now. Who the heck is buying a house right now? Don't you know that it's gonna collapse? Come moving the future now not financial advice not financial visor, but come on and then also a third roughly paying down debt The rest are just kind of maybe they're having hard times and they're Racking up more debt on their credit cards because the stimmy checks are out. Who knows playing to reduce holiday spending Oh, no, that's not gonna happen one out of four Allocating more in coin income to savings. Well, I can see that because I mean savings. What do you do with that? Let them flay away. However It's not a bad idea to stack cash Because people will say, well, you know, it's it's gonna inflate away so so much anyhow Look, I don't know if you've lived under a rock But the crypto market has been doing so hot either neither has traditional markets like the s&p 500 and Nasdaq So in reality, you probably lose more money Just not sitting on cash for a while until everything really goes down if it does and then staying in a job They don't enjoy I think we've all done that 14% that one I could really see it. But I again, I don't when I take a look at these. I'm like, I Would think that people would prepare a little more. I know I am I'm just sitting back I'm not taking on any debts and kind of strip things down just waiting because I think there's a downturn coming Maybe not in the next two months, but in 2023 I can see it And that's where I want to be as an investor moving forward and then this also plays it out This was a great post by Diddy talking about downturns He says look at these yearly Bitcoin returns of the past 12 years Do you think it's possible to reach 50% per year for the next eight years? And there's this diagram here and it talks about how in 2022 The year end of the price of Bitcoin because we started the price of Bitcoin at 47,920. Oh, it was pretty good times At year-end they're predicting Maybe 25,000 and if you take 25,000 plus 50% every year that means in 10 years you could see 640,000 I don't really know about that. I don't really care about that. What was interesting to me was that you can see that The law of diminishing returns is in full effect here in 2010 Wow, 2010 Bitcoin was point a fraction of a penny and went to 30 cents 9900% gain 2011 2012 which was doesn't tell was the first halving and then 2013 was the first major bull run and it went up 5,500 percent pretty good Then it took a big dip in 2014 down 58% one thing I want you to notice is take a look at these bull markets You had 5,500 in 2013 In 2017 it was only 1331 in only 2021. It was 66% That's from the from the top to the bottom And if you take a look here, so there's diminishing returns here, but one thing I it's interesting here is The percent change in the bear markets 2014 down 58% 2018 73% that's pretty bad and again like I still think we've got a little ways to go Here's those price differences in 2013 from the top to the bottom From the top of 2013 to the bottom in 2015 85% top to bottom 27 20 84% And for us we're only at 71% so again I'm not telling you what to do. I just take a look at these numbers and go I there might be some more some more downturn. However, having said all that I'm not 100% sure so I still dollar cost average in a lesser amount So let me think about that in the comments and the last one. I just I Wanted to share this because all the comments about the different chains. I mean crypto in general. Let's be honest Crypto in general is a cult Certain projects are a cult. I remember Mike Novogratz Calling who was you know Who was calling Cardano a cult and I was like, is that a bad unlike everybody took out like everybody's really ticked off when he said that I was like, I don't give her what's the problem. It is come on and This is a comment Which is what I've always felt like this is from Keith rebois Rob, I I nailed that one Keith rebois. That's it He's a former exec and CEO of some of the biggest companies LinkedIn PayPal square and open door He knows what it takes to be successful So I said if your crypto gets called a cult just say thanks. Here's what he says every good startup is a cult Let me say that again Every good startup is a cult and it's really hard to create a cults if you're sharing space with people because a cult means you think you're Better than everyone other every other startup. You have a special way of doing things. That's better than anyone else in the world Basically, you are the best and it's hard for anybody to tell you differently. So now think about your project. Is your projects cult-ish Probably but is that a bad thing look I did CrossFit for years. That's a huge cult and guess what it has astronomical success Across the entire world. So I mean people say it's a cult. I'm like, what's the problem? I mean, that's just kind of builds us up. So that's fine Now, you know who else likes CrossFit chiropractors because you get damaged and destroyed in that one, but you get in great shape Same thing with Apple that's a cult see all the people that are standing outside waiting for those stupid phones Which really aren't that great. I'll be honest with you. I have one. The only thing that's really good is the new camera But yet cult-ish So but what does it do? It propels those startups that propels those companies the stratosphere because people will not give up on those Companies and that's honestly what I look for like I take a look at different projects I always think myself does this make the cut the CUTT and the first one which is is the C is community How big is the community and where they're leading things? The next parts are utility tokenomics and team which are important But I gotta tell you in the crypto market as an as a speculative asset I think it's more cult-ish and I'm okay with that because that's just how it is So, yeah, let me just think about that in the comment section and speaking of cults Or products that I like sweat coin Couldn't go I couldn't stop I couldn't help myself Did you know and before you be asked yes, I own a bunch of it. Yes, I'm biased And yes, I saw James's video on sweat coin. It was very interesting about the The drop in the amount of users and on price. Well, that's true Fair market, but I will say this, you know, they have 3.5 million active users in the first month It's pretty good And they have 110 million app downloads because the difference between the app And the actual crypto wallet, which is sweat. I think I'll do quite well That's what I got. So look that concludes today for the news. Lastly, I'm just going to say this We're going to do the Celsius update There was a video we did. I did it with Aaron Bennett and Tiffany Fong You can check them out on their respective youtube channels and we have the video coming out in Gosh four hours or so it'll be a live premiere I'll be in the chats. I'm pretty sure Tiffany will be I think Aaron's going to be in the chats So you can you can chat with them live and ask them any question that you want to and really what I try to do Was we put together a timeline of what happened and what the different plans are and where things are going I think this one's a do not miss So there is a link in the description And you can check that out and that's it. So look That's it for today. If you got to take off take off. I appreciate you stopping by you've been here almost 20 minutes Thanks for hanging out with me But now we'll go into the q&a. I'll answer all your questions the best my abilities and we'll go from there So let's jump into the q&a and actually I'm going to put that The link to that video in the chat Right now