 Great, let me just last said news stop tourism crypto and break down a bite-sized pieces My name is Rob and a lot of things to go over today I got to be honest with you and if you haven't noticed lately. I've been pretty what would be called Bearish, but I tell you after they stories. I'm feeling tremendously bullish. I'm gonna tell you exactly why so we're gonna go over the good Or actually run over the bad first and then we'll slip into some okay news then some fantastic news So we're gonna talk about regulations from New York and Biden Bank of America. They can't see the crypto crypto winner coming We're gonna talk about FTX offering stocks Within a couple of months and they're already rolling out to people in the US and then lastly we'll finish up with probably the most bullish Sentiment and story I've read in like a long time and at the very end. We'll do Q&A and we'll do a little mix up And I'll explain that in a bit So first of all if you're here for the live stream, thanks to do appreciate it Just know that if you're here for the recording time stamps will be underneath so you can just skip around but it just makes sense to go all the way straight through and Let's just start with taking a look at exactly what's going on in our Realm and this is a picture that pretty much sums up Exactly what I've been thinking. I think you have for quite some time It is the same thing that has been gone on for a millennia, which is people will look at Different prices of different assets and go that's way too overpriced And then when it when and they always have this this fear or this problem with all I missed out And then when it goes down lower, they're like, I'm not buying that but in all honesty, this is when I am buying I can't tell you what to do. This is not financial vice just financial opinion But it does make a lot of sense and that leads me to today and today's looking pretty good I mean, I'm not super bullish because the price is up a little bit. Who cares, right? This could be a dead cat bounce. We don't know TA experts will tell you whatever they got But for right now, I mean, it's looking pretty good bitcoins up a little bit take a little victory lap 2.5% theorems up a little bit BNB finance coin up a little bit 2.7 ain't big winners today 2.6 2.7 kind of like sideways action flows down negative 5% all right and Off we go and for me, I always take a look at these things and go well, what's the market cap though? We're still at only 1.34 trillion dollars So don't take the big victory lap because it wasn't that long ago We were over 3 trillion just as a reminder and then also I still believe that we're a little bit correlated And we can see that actually in the S&P 500 They are up just a little smidge today as well as the nasa actually now take that back Nasdaq dropped a little bit as I dropped a lot So I'm just gonna tell you if nasdaq drops I would not be surprised for the next hour to two hours or so you start to see a little bit of drop as well Could be wrong. That's what we got. So that's what's going on the market. Let's go into some Little bit of junk news a little bad news Depends on how you see it and I'm gonna have you tell me in the comments So first up by administration wants crypto exchange to separate customer and corporate funds now on this channel We've been talking a little bit about regulation. It's not it's like the most unpopular Topic to talk about in crypto and it's really unpopular if you say that right little regulation is good That's what I think especially with the stable coins. I know people hate me for it But you can you can voice your opinion in the comments. It's okay. It's alright But for these types of things this is what we got for the little regulation coming around and just so you know As a matter how much you don't want it no matter how much you protest it's coming So get ready so you can either hide behind it or have your voices heard by contacting Whoever it is in your district as far as your congressman or woman or senator saying this is what I would like Please listen to my voice because guess what I pay your salary. All right, so here. This is what's happening US President Joe Biden's administration will press Congress to demand crypto exchanges keep their customers money separate From their corporate funds and this was all about a story About how Coinbase publicly traded company now their recent disclosure that customers money would be jammed up if the company declared bankruptcy Federal officials tend to push us lawmakers to fix the problem by insisting that a league a future legal framework requires crypto firms keep Customer assets walled off a separation. That's not always the case That type of custodial rule is standard for financial firms such as futures But crypto exchanges routinely mingle their funds. However, the securities industry commonly the securities industry securities commonly co-mangle the funds, but they also are a lot more heavily regulated and Here's a nice quote from a friend of the show Gary Gensler. I know he watches. Hello, Gary And he states don't think you actually own your tokens when you go into a digital wallet and he's talking of course There was a there was a Conference this week and this is with our his statements and he actually is right here Says don't think you actually own your tokens when you go into a digital wallet that the platform goes down Guess what you just have a counterparty relationship with the platform and get in line in bankruptcy courts And I gotta tell you I agree wholeheartedly with Garrett. He's absolutely right I mean the guy did teach at MIT blockchain and cryptocurrency classes. So here's the thing If you want to leave your crypto on exchanges, you've heard this many a time. It's fine You know, go right ahead. However, you are running a specific risk And also if you have crypto on the exchanges, just know that they can rehypothecate All those crypto tokens that you have including Bitcoin and everything else and they can lend those out to Third parties now places like on Celsius They will get collateral but the question is how much collateral do they actually get and if they can't make it do they pay it back? I'm not singling out Celsius. I've had Alex in the show last week He seems to be on the up and up. However, it is something to consider So remember if you want to keep it on the exchanges and those exchanges go down You're out of luck and that's just the truth. Gary is 100% correct. All right So to finish this up when a firm takes a customer's tokens, they can do use them as they will of course In fact, he states the exchanges are often trading against you Huh and since customers lost billions in the wreckage of Luna's algorithm stablecoin His investor protection advocacy could gain momentum and that's the thing That's the problem with when things go down they're going to use that as a tool and they're going to ram through a stablecoin regulation and It's going to be faster than what you can imagine So that is a little bit of negative Negativity I would say and there's also this so New York Bitcoin miners are starting to give up on the state amid regulatory uncertainty And I will just make a preface of this I'm happy about this one and I'm going to tell you why in a second. This is actually good news So here's what we've got Thus the New York State Senate is looking at a bill calling for a two-year moratorium on new Cryptomining projects that use gas coal or other non renewable energy sources after the assembly version of the bill past the states Lower house last month and what they're talking about here is back on April 26 New York State Assembly passed the bill blocking new crypto mines miners that use non renewable power The bill would impose a two-year moratorium. They couldn't get into it on any new crypto mining firms that use a carbon-based energy source Existing facilities weren't affected and or any that uses tap renewable resources So that is in the assembly. This is looking for the New York State Senate And this is this this is the quote all crypto companies have a permanent hold on starting businesses in New York Do the political and regulatory ambiguity? Let me say that again due to the political and Regulatory Ambiguity because no one knows the rules if you give us the rules We could bend those rules and we can actually make things work The problem is you got to give us regulations so we can actually know where that we stand if the bill were to pass New York would become a permanent afterthought for the industry. That's Kyle Schnep's Director of Public Policy at Foundry. They're they're based in New York and they're also owned by coin desk spared company digital currency group. Sure Most crypto mining companies are staying away from the state because of authorities seemingly negative stance for the industry This is why it's good news and I hate to be selfish. This is great news for Texas Look, I like New York. I've got some New York friends over there real great people, right? But if you want to pay taxes New York sucks and and if you're from New York just sound off it's pretty ridiculous and also the different regulations that they impose as far as like getting a bit license is Ridiculous even Voyager and the Steve Rick's what was on the show just a couple weeks ago They said we're still battling with that and they've been around for quite some time. I know what's going on so if This forces miners out of New York so much the better because we've got a lot of Bitcoin mining going over here There's a lot of job creation going on. Oh, and also we have really cheap renewable energy sources such as solar Wind and gas and guess what people say, but it's so hot in Texas. It doesn't matter We'll just sink those those rigs into the some some cool immersion fluid and we run off that risk in those problems So if you have a problem in New York Bitcoin miners, I got a great stay for you. It's called Texas I live here half of the year roughly and it is fantastic. So I'm happy that this is happening And it'll cause a vacuum. Welcome to Texas. So then to finish this up pop up up Prices are going up regulatory and sorry to coin the bill is one reason my mining firms are less likely to move New York Increase in energy prices are another executive attribute the uptick in electric rates to blah blah blah blah, okay? So that's essentially the bad news Sorry, and that's what it is now. Let's go into a little mid-range stuff Bank of America can't see crypto winner. It's actually pretty good, but it does make me a little concerned. I'll tell you why so Bank of America says crypto winner contagion risk concerns are overdone and real quick Investors wondering why digital assets are not outperforming traditional ones should be aware that crypto ecosystem is an emerging tech asset class And the tokens that power the ecosystem trade like high growth speculative risk assets, which is exactly what we've been talking about. There's a reason why our Market follows kind of in line. Now look, it just went positive. Call me a liar, but still it's up Covers the NASDAQ NASDAQ or tech stocks majority wise anyhow And of course, they're looking at this as a risk-on asset just like they look at this We want the institutions there, but of course, what are they gonna do? They're gonna say well if you want us here We're gonna treat you just like how we see you even though I think it's the wrong the wrong play Digital assets are faced with similar headwinds to traditional including surging inflation higher interest rates and the increased risk of recession And that's true right now and I've been talking of this for for quite some time that it is a bearer sentiment because of those macroeconomic risks But this is interesting warriors of contagion risk within the crypto ecosystem and spillover effects in traditional financial markets Do the class of Tara? Or Luna and I was just on a round table with Rob Nelson and a couple of other people like John and Jerry and Alex Adrian and One of them I think was Adrian talked about he said, you know when everything went down because of Luna and a lot of people lost their Money, I mean that was pretty awful He goes but did you see how many whales moved in and bought a ton of different of Bitcoin? They bought hundreds of millions of dollars 700 million dollars worth of Bitcoin he goes so If you take a look at what's going on in the macro environment and you know people will say whatever they say Don't listen to what they say Listen to what they do and it was a great point and I gotta give him a shout out for that So there is that part as far as Bank of America, but I will say they have been saying this Bank of America It's for quite some time. Actually. This is going back to March 1st and You know, they said the same thing. They said even though that there's tightening We don't really see it and they don't even think that there's gonna be a recession I think maybe stagflation so that's just middle-of-the-road type stuff, but there is one part That was interesting to me where to go ah Al-Qaisha the Bank's lead digital asset strategist explained that while the upload Upside could be limited. It won't be a crypto winter given the growing levels of a user adoption and development activity They say anus believe that slowdown in stablecoin inflows or even outflows or excuse me The outflows of Bitcoin the second week in a row is a negative a weakened investor in demand And this is from March 1st and if we take a look real quick That's this is from crypto quant Bitcoin exchange reserves. We can see that I mean take a look at it They're usually when people put their Bitcoin back on the exchanges like they did right here You see a sell-off especially as the price goes down, but if we can even zoom in There really isn't a ton of people going in there and going I'm gonna sell off my Bitcoin Just a little bit of a blurb on 8th of May, but now it falls back off again. So I can see How that would work out? So let me know what you think about that in the comments section and then let's go to the bullish stuff Here's the good news. You're waiting for I always like to give you two sides of the story Or two sides of the sentiment because if I just give you bullish stuff like well, that's just hope him Where's you know, where is the other side of that? Balanced right and this is what it comes down to I gotta tell you this looks pretty good Crypto exchange FTX expands into stock trading and it's amazing to me how fast Sam and his team move Here's what's going on and this is not like pie in the sky like it's gonna happen. It just happened Crypto exchange FTX will let customers trade stocks and ETF on its trading app alongside Bitcoin a doge FTX on Thursday That's the day, right? Yeah, we'll open access to its new stock trading services for a limited number of US users And that's the key US users the people with the most pain in the a regulation they're gonna open it up to US users and That's what Sam said it plans to expand the functionality to all American customers the next few months Let me read that one more time It plans to expand the functionality to all American customers in the next few months. So imagine this FTX is like, do you want to trade equities? Sure. Here you go. Do you want to do futures? That's gonna come as I'm sure. Do you want to have a lot more crypto to trade and buy up go right ahead? It's amazing to me how fast these guys move. It's a they're entrepreneurs after my own heart FTX plans to offer commission free stock trading That's not bad like most major US online brokerage firms But the question to I had was well if Robin Robin had also does that but they do pay-to-order flow from Citadel That's not so great. So how's that gonna work out? Well, thankfully This is Brett Harrison. He is the president of FTX US and he says this Brokerage services are offered by our broker dealer FTX capital markets We've chosen to route customer orders directly to Nasdaq's order router Instead of running to markets makers and receiving payments for order flow as a business matures will continue our customers full transparency and choice in Order routing FTX stocks will be available to all residents of all US states Including New York so I gotta tell you that's pretty good news. Let me know what you think about that in the comment section. I Feels pretty good. I thought we're getting momentum. I like that now. Let's go on To I think the most bullish story of this week the last two weeks and I gotta tell you it's nice to have a little bit of Hoping out there This is big and when I read this just kind of let your mind flow about where things are headed and The kind of outlook that you really potentially should have as an investor. So here's what we got This is Swiss asset manager Julius Bayer ice crypto and D5 potential Here's the thing who the heck are they? Well Julius Bayer They manage 486 billion dollars of CHF and I was like what the heck is CHF? so CHF is the Swiss fronk and Roughly, it's a dollar three to a dollar. So roughly they're managing about a half a trillion dollars of assets under management And it wasn't just that what this article says it's what the president of the company says or the CEO Here's what we got the 132 year old Swiss asset management firm Julius Bayer Intends to offer exposure to crypto and D5 for its high net worth clients again Just like what Adrienne talked about in that round table fall the money The firm CEO Philip Rickenbacher Rickenbacher nailed it confirmed the move into the crypto space during his delivery of the company strategy Update for the next three years And this is another thing they talked about round table They said that all of the hedge funds that they are talking to they're super excited about getting into crypto They have a three and five year plan their outlook is it's not like well Can I should I invest into this meme coin in six months be billionaires? No Three to five years. I think that's the right way to do it. That's just me though And this is what he states it could well be at this very instant that we are witnessing a bubble burst moment of the crypto industry And we all know what happened after the dot-com bubble burst 30 years ago for you who are young it was a Different time before the internet Dewey decimal system awful. No Netflix and When the dot-com bubble burst everybody's like well, that's it. I swear to God We all thought the internet would not come back. It's like it's dead. It's just it's not gonna work It's too slow. You can't stream anything. Why would anybody invest in that? That's what we thought I think it's the same thing. Come on playing out here It paved the way for the emergence of a new sector that indeed transform lies They will transfer in the financial sector crypto and over the next 10 years Over the next 10 years over the next 10 years. It is important for us to gain a strong foothold in this area Again outlook. That's why it's exactly the right moment to invest in the long-term potential of digital asset Technology I got to tell you couldn't pick the better time 1.33 trillion not bad compared to getting in at 3 trillion And then to finish up on the other hand It's also where a traditional cost-heavy and complex parts of the old banking system are today Just rewritten rewritten with a few lines of code to my DeFi as technology and traditional finance ultimately will converge There's huge potential to really transform our value chains and the people that invest into it. So Again for me, I gotta tell you this was a pretty good pretty good Day and it puts things in perspective doesn't just go like where are we and sometimes we we zoom in a little bit too much I'm guilty of that as you may have seen me lately, but Stories like this make me zoom out and go, you know what one year three year five years I think we're all gonna make it and yeah, let me just think about that in the comments section And let's move on to the Q&A all real quick real quick real quick. Sorry. Have you guys ever heard of this PO AP? Po app It's free NFTs that you can mint and I'll do a deep dive later But I just want to bring it up because I was just talking my friend Anthony and he was telling about it I'm like, I gotta talk about it. There's no tokens. He can't buy it. I can't show it I can't do anything. It's just free NFTs. So don't be like I'll rob the shill, which is true I'm a shill at some points, but not on this one. Oh Lastly lastly, I will be in consensus Austin, Texas June 9th through 12th So if you're gonna be there say hi, and that's it So now let's get into a little a little Q&A and I don't I want to mix things up with the Q&A And I know yesterday I talked about me this out of here. First of all, if you have to take off, that's great Thanks for stopping by I do appreciate it like and subscribe if you can save the Q&A awesome So the Q&A yesterday I had said that what I was gonna do is I was only that I was only gonna do Q&A For the live streams then just whence this whence YouTube it was uploaded and and Processed I would just delete the Q&A because no one wants to because when people are going through the videos They see like a video for like 10 minutes like I'll watch that I get 10 or something like, you know 15 But if I'm gonna sit here for Q&A and I wanted to go a little bit longer in the Q&A No one's no one really likes to click on videos are like an hour and some change So I was like, I'll just if I'm gonna go longer. I'll just delete the Q&A part However, I had no idea people like the Q&A so much. I was actually quite surprised. I was like, well, okay That's what you get when you read the comments. I also I read them I try to read as many as I can so I'm like, well here's I'm gonna do instead of cutting it for The the live stream. Well, actually I'm still gonna cut it I'm still going to cut it out of this live stream and I'm going to upload it as a separate video So if you are watching the replay, you can just watch the news and if you want to take off whatever But if you watch the Q&A, sure, you can do that and I'll upload it and the reason I'm doing that is because Let's be honest, there's some trash out there and the YouTube land and I think sometimes the videos get overlooked because they're a little bit too long So I'm gonna chop them down and and play the game of algorithm That's what's going on. So it'll still be available. It's gonna be available for you right now for the live streams But my friends in Europe and Australia don't worry. I got you I'll just upload the Q&A and you can just link it right after this video stops And we'll be in little boxes. No big deal. All right. That's what's up. Let's get to it