 Well, here's the last set of news, they get top stories in crypto and bring it on a bite-sized piece. Is it just like the thumbnail suggests, things are going lower. So first thing we're gonna talk about is a little bit of negative news as Coinbase just completely folds and decides to actually give up their earn program as dictated by the SEC. I think this is a mistake and we'll dive right into it. Also, we'll take a look at a new cryptocurrency bill as being ushered in, which I'm gonna urge you to take a look at and hopefully contact your representatives. Then we're gonna go into some more positive things and talk about why banks are gonna lose this war and then we'll take a look at the actual good news and put everything in perspective. So before we get into that, let's just take a look what's going on into the market. And today is as expected, a little bit down. We're at 1.87 trillion. We dipped below 2 trillion like I thought we would and then we kind of went up a little bit and came back, back down. So it's like a dip within a dip within a dip. And what I've learned along the way is to not just put everything into the first dip because it seems like there's like a dip and like a rebound than another dip than a harder dip. And before you know it, you're like, man, I have no money to put into these dips. So I just kind of break things up. So I dollar cost average in and I dollar cost average even the dips these days because it seems like there's so many. And September is just one of those months which we had talked about before. It's just gonna be a very volatile and bearish month. So that's what's going on there. And then the actual price of different coins, Bitcoin being one of them, almost $41,000, well, $41,9. Maybe we see in the 39 ranges, who knows. Ethereum lost to 3,000 footing. Now it's a 2,880. And then Tether, as you may notice, is now in that third spot overtaking Cardano. And the reason for this is because when everything goes down, investors like to what's called Tether up, which means they sell off their positions. They hold in a Tether, which is a quote unquote stablecoin and they wait to buy or do whatever they wanna do until things just kinda stabilize. So that's why you've got those price action. Everything's just down across the board except for Avalanche. Avalanche doing 6%, so not too shabby and then Algorand 1%. So that's what's going on the market in a nutshell. Let's take a look at what is going on as far as like a little perspective and what's happening with Coinbase. But before we do that, I just wanna give you just a little bit of a visual and that is that this, I know that we believe that everything's gonna go up exponentially every single day and it doesn't work like that. So this to me is pretty much most of the crypto market right now, 94, 90% plus. But if you just got in like, I don't know, two days ago, three days ago, not a great timing. But don't worry, if you don't like the price, it'll change. And this is how I see things. Everybody's complaining about down 10% or 15%. But all honesty, if you've been here for any length of time, you are massively, massively up. And you are being the pants of everybody who gives in traditional finance, S&P 500, Dow Jones, things like that. So just kind of keep that in perspective. So that's all we have there. And then this was the story that I, I'm very disappointed, honestly, in Coinbase and their decision to this. I understand why, because they did their due diligence. They went to the SEC, they sat down with them. They played that role. They were good boys and girls. And what did they get? The SEC said, thanks so much for coming in. And guess what? We're going to sue the pants off you if you keep going forward. And that's essentially what is happening here. So Coinbase abandoned the plan for the lend. And this is what they stated. And it's just awful. So Coinbase comes out and says, look, our goal is to create great products for our customers and to advance our mission to increase economic freedom in the world. As we continue our work to seek regulatory clarity for the crypto industry as a whole, we've made a difficult decision not to launch the USDC APY program. So I guess it was only for the USDC stablecoin and they were going to give you around 4% just for holding that. And then this is where it kind of comes down to it. We have also discontinued the wait list for this program. Before we go on, I want you to think about if the SEC and the regulatory environment is doing is protecting the investor as far as what is going on here in the statement right here. We have discontinued the wait list for this program as we turn our work to what come next. We had hundreds of thousands of customers from across the country sign up and want to thank you all for your interest but we can't move forward and they pretty much stay like, look, we could have given you a nice fat 4% APY on stablecoin. So instead of keeping your bank which gives you 0.01%, something ridiculous paltry, they would have given me 4% and the principal would have been guaranteed as I say right here. So to me, I think this is a battle that has been lost, but not the war. And that's really what it comes down to. And then also on top of that, there was a meeting with Gary Gensler and he was, he had an interview to Washington Post. It's the same thing that he talked about in the, for the regulatory committee as he came forth from, for the Senator for, or the Senate Committee for Housing and Banking. And he pretty much said the same exact thing. He's like, look, everything's a security except for Bitcoin and Ethereum because they are fully decentralized or however he termed it. But everything else outside of that is going to be a security. So if you want clarity, that's what Gensler is doing. He's gonna say everything is a security. Why is this bad? Well, it's bad because right now you've got Coinbase and Kraken and Voyager and every other exchange, Binance out there, they're selling unregistered securities. And that will lead them to fines by the SEC if they move forward. Also, the actual projects themselves, they actually are dabbling and putting forth unregistered securities which means they're gonna get fined as well. The only way this works is if Congress steps in, Senate steps in and says, look, we got to change some of these rules. And we need to actually have some type of grandfather and clause like what Hester Pierce talked about who is one of the commissioners for central banking. And she could say, or the SEC, and she could say, look, we need to do these types of things. If not, we're gonna have a lot of problems and just grandfather things in. So it was the same type of thing. And then on top of that, if you don't feel like more great news, there's a bill that just came out and it looks something like this. It is HR 4741, Rep Donald Beyer. It's very long if you wanna read like 30 or 40 pages. I will link that into it for you. If you do not like to read all that time, because maybe you got something else going on, I'm going to just paraphrase what this bill is gonna do. What this bill is going to do is Congress attends the regulate crypto on a level very deeply. They're gonna designate Bitcoin, Ether and their hard forks as commodities and regulate their transactions accordingly. They're gonna create legal uncertainty for all their crypto projects and ICOs by allowing them to be labeled as securities. They're gonna ban the use of unauthorized stable coins. Well, how are they gonna do that? They're gonna rebrand smart contracts, take longer than 24 hours to deliver as futures contracts and regulate. And they're gonna redefine legal tender and change the way money is created by the Federal Reserve and authorize the issuing of a digital or digital dollar of which all transactions are recorded. So I think this is a massive disaster and this has been under the radar and I wanna thank the person that brought it to my attention on Twitter. Twitter is a great place. Crypto Twitter, you can find all the information you ever wanna know. So the thing is with this, if you wanna get involved in this in the United States, so all you have to do is first of all, I'll link this here. There is the committees are the financial, the house financial services, agricultural, ways and means. All you have to do is go here, you can click on agricultural, ways and means and the other one. Once you go there, just click on the, there's a little hamburger menu here and about commodity exchange energy current, about here and it'll say the members and all these members will pop up and you can talk to all these guys, just email them or call them, what are we gonna do and say, look, this bill cannot pass because it is not defined well enough and it's going to stifle innovation. That's all I gotta say, stifle innovation, that's it and email or a call. Also, here's the ways of means committee. Again, you just click on about and you just click on committee members and then it'll bring them all up. Now they all are very simple, very easy. The worst one though, is this one right here. This is the financial services by Chairwoman Maxine Waters. Look, I know you probably hate Maxine Waters. Do not give this video a thumbs down if you don't like her. Give it a thumbs down because you think it's awful but this one's the worst to find out all the different members you gotta go to about us and it'll pull up some, the full committee and I'll give a thing and then it'll talk about where you can find them, maybe potentially, kinda sucks but that's where you can find everybody and you can send the information and we did this last time with the last bill that came about and we almost got it reversed but it was the most amount of outpouring in the technology sector since we saw for the last innovation as far as like stifling the internet. So if you could do that, that would be fantastic and that is what is going on as far as I guess you would say like a little negative news about what's happening. So let's switch gears a little bit and talk about some good stuff. Pretty much why banks might lose this or the old guard and this is what is going on. So this was actually from Jake Trevinsky. He's a lawyer at a crypto project, I forgot the name escapes me right now but he says it very simply and it's a pretty good history lesson if you weren't around. He says, look, the entertainment industry didn't defeat peer-to-peer file sharing by regulation or enforcement, which is what we are seeing right now happening. People are scared, banks are scared, the old guard is scared and they're trying to use their power and influence which they give the chair people to Congress and senators because they pay for all those things that's how America works. And they're going to say, look, we need to get more regulation here and this is why and then help us out because we're your buddies. But you have to remember just like Jake says it's not about that. It didn't really happen because of peer-to-peer. It just, what happened was they offered better services people were willing to pay for. So let me read this again. The entertainment industry didn't defeat peer-to-peer file sharing. That would be like Napster. Everybody was up in arms about that. By regulation or enforcement, they just offer better services. Back in the day, I remember when Napster came about you could download any type of music that you ever wanted to. It was super simple, really easy but that was totally free. The powers that be were freaking out and that was RIAA and MPAA. And then what they did was they said, you know what, we're just going to offer some services that people want to download this and have it accessible quite easily. And now, do you know anybody who uses Napster? Do you know anybody who uses a file download service that they don't want to pay for? No, because they innovated their way out of it. But here's the thing, banks aren't innovators and they're not going to do it. And Jake says it perfectly. He says the banking industry won't defeat decentralized money and finance by regulation or enforcement. It'll just use crypto. And again, they are not innovators. So just remember that if you think like, ah, they're going to shut us down and everything else. Well, they can try, but it's inevitable about what's going to happen. And then on top of that, let's take a look at what's going on in the traditional markets real quick. Because yesterday we had a huge sell-off, right? And huge sell-off, you had a huge dip and it was all over the news. We talked about it yesterday. So the S&P 500, just the basic top 500 great big companies, you're looking at 4314 and everybody was freaking out yesterday. They couldn't believe it. And then if you take a look at what happened today, let's see. Over here, nice little fat rebound. So pretty good from Monday to Tuesday. Then it looks to be okay. And then it just kind of went up that way. And then on top of that, if we want to take a real big look into what's happening in traditional finance, here's some more good news. Take a look at the 10-year treasury yield too. I think this was very important in terms of giving people some sense that it was not some broad macro stress event because the yields, yes, they were down yesterday, but in a very modest way and nothing that really kind of changed the idea that we're firming up in terms of yield. Now, maybe we're capped at one four and we haven't really been able to get over that. But the point being it was not really a rush, a headlong rush for safety, as we talked about a lot of these issues, such as Evergrand, which has been an ongoing thing for six months. We spent all day yesterday talking about it, but this has been a six month meltdown. So maybe that also is reflected in the fact that it wasn't necessarily something fresh that just hit the markets yesterday. And there you go, and he's absolutely right. So we saw a big downturn and everybody was freaking out. And of course, the sky was falling and we'll never recover. And then once again, we do the same thing, the traditional market recovers. However, I think there's so many different players from traditional finance dabbling into our space because we're okay with them spending money, but we hate when they sell. That is exactly what's going on here. So we see a little bit of a recourse, traditional, but now we're still suffering the effects over here. However, do I think that crypto will do pretty well? I do, and here's a little proof. So if we take a look at that and then also just a little history note, take a look at these great numbers to put in perspective. 2015, six years ago, Bitcoin was 230, 2016. And this was September 20th, 2016, 600 bucks. 2017 and September 20th, $3,900. 6,518, 2019. And these were bad years, I might remind you. 6,500, that was in crypto winner, still not too bad. 10,100, 2020, not that great because it was kind of a lull year at 2010-9. And look in 2021, $44,000. So if you think I have to ask yourself, well, where are things going? You wanna hope for the best, but expect the worst. I still believe that we're gonna have more dips to come. That's why I'm dollar-cost averaging my dips, essentially. But I think in the long run, we're okay. And speaking of that, if we take a look at the long run, we can't not help but mention stock to flow. And just like he says here, Bitcoin is below 34 trigger. And this was on June 20th. And he says, look, in June, I sketched this out, but I still think we're on track to 100K in December. And he says, this was his price on chain-based. August, nah, 47K. September, 43K, because every single September for the last four years, it's been pretty bearish. We talked about that a length in the last, I don't know, 20 videos. October, he sees 63K, November 98K, December 135K. And everybody's got their own interpretation to plan B. Some people say, well, like September, some people say, well, that's the floor. That's the lowest it can go. And some people say, no, that's not what it is. It's actually the price of the end of the month. And you don't know what you're talking about. So I just say, it's around there. And then we'll just go with that. And that's where I see things as far as going. And that, my friends, is pretty much the good news about what's happening. It always seems to happen in September. It's just a bad, junky month. And I'll link the video we talked about that. But every single time, well, not every single time, seems to do pretty darn well as we rebound into October, November, December, maybe January, February. But again, not financial advice, just financial opinion. And then to finish all up, it's gonna throw one more thing in there. And that is that I'm pretty good at dollar-cost averaging. I've kind of figured that whole thing out. I think you can tell on this channel. But I'm horrible about taking profits. I'm just bad at it. I mean, I do it. I've been doing it along the way, but I could have done better. And that's the whole thing, just improving about what your shortcomings are and just admitting that, hey, you're not perfect and you gotta do better and learn some things. So I'm gonna team up with the folks over there at Market Rebels or Market Rebellion. And we're gonna go over and see if they can help me fix that issue. Now, my channel's not gonna change. It's the same format and everything else. But as somewhere along the way, I'm gonna talk about my process of taking profits because it's like nobody talks about taking profits, at least not that much. Everybody talks about buying, buying, buying. But I'm gonna talk about taking profits along the way here and there, how it relates to taxes, also for staking and everything in between because you have to think about those things. And look, that's it for today. So look, if you made it all the way to the end, I wanna say first, thanks for sticking with me all the way. I really appreciate it. If you liked today's video, go ahead and give it a thumbs up. Give it a like. And then if you like these types of videos, go ahead and subscribe. We talk about these things every single day about what's going on in the market right now. So that is it for now. Thanks so much. We'll see you on the next one.