 Mm-hmm. Great. Welcome to the last set of news to get top stories in crypto, very amount of bite-sized pieces. So today, as you probably already know, to check your portfolio probably every five seconds, there is a huge pullback. Some might even call it a collapse as far as the crypto market. We're going to take a look at exactly what's going on and why it is, just how far it can actually potentially go, down, down, down. So we're going to talk about, first, we'll talk about the market itself. Take a look at what's going on with the miners. Also, take a look at MVRV, market value versus realized value. And actually, we're hitting a point where we haven't seen this in over a year. Also, we'll talk about contagion with three arrows capital, Celsius and others. Also, a nice little snippet of a Celsius recovery plan. Then we'll take a look at lockups, which what I call the great dumping. And it's going to come up a lot faster than you think. And I'm going to show you exactly how to find those projects that are about to dump on you. And lastly, we'll take a look at some positives, which is the Celsius recovery and also the Celsius recovery plan. And Kevin O'Leary, Mr. Wonderful. So we'll do all that. And then at the end, we'll do Q&A. So let's jump in, shall we? A lot of stuff to go over. So first up, the market. Today's Saturday, not the greatest day for the market. It's a great day. I mean, regardless, I'm above ground. I'm healthy. I have a roof over my head. I have food. I'm doing pretty good. And but our portfolio isn't doing that great. But there's a great quote from Peter Lynch. And I say all the time, everybody has the brain power to make money in stocks or investing. But not everyone has the stomach. And this is the times because when you got into it, statistically, I know that you probably get started here in 2021, the majority. Some of you have been here since 2017. Some, but it tapers off wildly after that, 2016, 15, 14. There's some of you have been investing since 2011, which is pretty amazing to me. But the ones that have been here early, I know you were probably promised by somebody else that this was going to be the easiest thing of all time. And you're going to be a dogecoin millionaire overnight, and it was going to be awesome and everything else. And that's just not how it is. And I'm sorry to tell you that it's hard. And if it was easy, everybody would do it. So I'm going to try to give you the best information I possibly can so you can make the best decision for yourself. So let's take a look at the market. Ouchie, not great. And we have finally come below our previous cycle all time highs. I'll get into the four year cycles a little bit, but Bitcoin is 17.8. At one point, I believe it went, you know what? I don't know how far down it went actually. Let's take a look. Okay, so 76 and a little bit of bounce, but expected to come down even more. And this is in 24 hours, mind you. So we were at, wow, 20,000. Quite the dip. What's going on? Contagion. And everything else that's going on in there. And I have to tell you, at these prices, I still am putting in money into Bitcoin. Today, I know this is going to go lower. I'm pretty sure things are going to go lower. I'm pretty sure things are going to get worse, but I'm not 100% sure. So because of that, I still dollar cost average. So right now Bitcoin can go to 10,000, 8,000. Who knows? I don't know. No one knows. And all the TA experts out there, it wasn't a lot of them who were saying, yeah, it's going to go to, you know, 15K or something like that. Potentially, maybe, but no one can really tell you when and all that stuff. But I can just tell you that this, our previous all-time high was around 19,800. And we are below the previous cycles all-time high, which is in December, 2017. Ethereum broke that $1,000 level. Watch out. Ted there in USD. Well, USD is up 0.5%. Bayern's going, everything's down. Is anything up? That's the best question, I think. Wow. T-Fuel. T-Fuel is up 7.7%. That's pretty good. Congratulations to T-Fuel holders. You're one of the few who's actually doing pretty good. And for all your leverage traders out there, this is, well, if you were shorting things, probably you're making out like a bandit, I suppose. That's not my game. But let's take a look at some on-chain data, shall we? And one of the things we talked about yesterday was the Bitcoin miners. And I had an issue with the amount of selling that was going on for Bitcoin mining. Let me blow this up so you can see it. I was just concerned because, I mean, you can see spikes, I mean, since 2017, not a big deal. But there was really not too much going on until, well, April. And then, of course, we had another big spike right here as the price started to fall down. And now that it's fallen even lower, what does it look like? Well, in actuality, if we blow it up even further, actually not too bad. This is the last week or so. And we can see that this was the high point. But the last two days, the 17th of June, 18th of June, not too bad, which I find quite surprising. Maybe the miners, they've got enough money to pay for their overhead, rigs, electricity, storage, capacity, all those things, which is good. And that's, so I'm not too concerned right there. I would be surprised if we see a lot, a big huge chunk of Bitcoin miners selling off, but, hey, everybody's got to pay the bills and keep the lights on, right? So we have that, the reserves, you can see there's a little bit of an uptick in Bitcoin. So people are putting their Bitcoin back onto the exchanges, meaning they're selling and they're selling fast. We can see that. Ethereum, same thing. Ticker by volume. There was a buy wall, but that got blown through because everything just went down. And then of course, here's my favorite, estimated leverage ratio. And it's actually almost hit three and now it's down 0.26 because if you are trading on leverage, that's not my thing. A lot of people got wrecked on that one. But that's for the super smart traders. I'm not that guy. But this is the thing that's interesting to me. The MVRV ratio. What is this? Let me blow this up. This is the ratio of coins market cap to its realized cap. The ratio of coins market cap to its realized cap, which indicates whether the price is overvalued or not. Historically, values over 3.7 indicated a price top and values below one indicated a price bottom. Last time we saw something like that was right around here. Dang it. Let me blow this up. Let me bring it back. Oops. There we are. So March. We can see that MVRV ratio was 0.92. That was the great dip for this thing called coronavirus. I don't know if you've heard about this. There was a virus. Everybody was talking about it. A really big thing a couple years ago. And it was at 0.92. And then of course, people realized, hey, fundamentals are the same. So they started to buy it. And it's been like that for, I mean, above one forever. Even maybe here. No. Not here. Maybe here. No. But guess what, folks? We are now at 0.89. Market value to realize value. This is the first time this has happened in two years. March, March, a year and a half. And it's sliding down. So do with that information as you want. But let me get to all the information first and you make the decision. So contagion. This is an issue that we all knew was going to play out. We just didn't know how bad it would be. Let's be honest. And we knew this was coming. We knew the rainy days were coming. Nothing lasts forever. Nothing goes up forever. This is from Miles Dutcher. I think he's with crypto banner guys. And I mean, James loves those guys. But he does have a good tweet here. And he talks about contagion and how it all comes out. And there's a couple of different tweets that went over it as well. But this one made a lot clear. So what the heck is going on here? So he says, we're witnessing the biggest leverage reset in history. Oh, that's for sure. And this is how we get back to fundamentals by people screwing up big time. So three hours capital is a crypto venture capital fund led by ZH, Huzu and Kyle Davies. Sure. They're managing an estimated 18 billion assets. That's a lot. 18 billion assets. Some of their most successful investments include Avalanche, Nier and ETH. This is going to be a big factor when we talk about dumps and we talk about lockup periods. So remember these names. Avax and Nier. ETH is ETH. So what are we going here? So it was revealed that 3AC had 245 million of ETH deposited in AVE, of which they use as collateral to borrow 189 million. I got to tell you. If you're using something to borrow, you put up your crypto for collateral and use it for loans. It's okay if you get assets that are stable or appreciating assets, but not super volatile assets. That's like crazy. But hey, I don't manage an 18 billion fund. But due to their illiquidity, many tokens were locked. They were unable to add collateral or pay off any debt because everything was locked up. This led to liquidation cascade. It was revealed that 3AC was leveraged long everywhere, resulting in a flurry of margin calls. Instead of answering these calls, they ghosted everyone. Here's a quick tip. If you're leveraging and you're on a margin, make sure you pick up that phone because they will liquidate you. Happen to me. Happen to me with Celsius. So just so you know, pick up the phone. Even if you're not managing an 18 billion dollar fund, this resulted in forced liquidations. The liquidity issues were worsening as 3AC were seemingly forced to sell over $60,000, not $60,000, but $60,000 staked ETH or STETH. And this was the big issue when people were talking about Celsius. And this was from Moon. People think Celsius is the biggest staked ETH dumpster, but it's 3AC and it isn't relatively close. They're dumping on every account and seed round addresses they have. Let me say that again, and seed round address they have. Most looks like it's going to pay back debts and outstanding borrows because they had to get some liquidity because everything was locked up. Everything's locked up. Can't do so much. Well, let me dump the things that are liquid. They get that back and they pay back their investors. This is not sounding good already. Zeezu finally confirmed the market's suspicions by publishing his first tweet since the fiasco. This was four days ago. He states, we're in the process of communicating with relevant parties and fully committed to working this out. Well, that sounds promising. The beginning of 3ACs will be directly tied back to the collapse of Luna and UST. And I got to tell you, this is exactly what everything's tied back to. Luna and UST. If Luna didn't collapse and UST with it, with its algorithmic stablecoin, we wouldn't be in this mess right now. But in all honesty, it had to happen. It had to happen because I don't think maybe it could have worked as time went on. Maybe they could have had more liquidity. Maybe it could have built itself up and been stable. But these things have to happen. And I got to tell you, I don't think there's going to be any more talk of an algorithmic stablecoin. I could be wrong, but I don't think it's going to happen anytime soon. Maybe if somebody figures out, and I will tell you this, Do Quan, that wasn't his first rodeo with trying to do an algorithmic stablecoin. He tried it before and it totally collapsed and didn't work out. So I find it amazing that you do something and it doesn't work out and you screw up and you try it again. You probably learned your lesson and it screws up again. And then you try to do it's like, Oh, hey, how about Luna 2.0? That's going to work out. I don't know. Just to me, it doesn't make much sense. Let me know what you think in the comments, but I don't see the point there. So 3ACs, supposed to borrow money off investors and deposit into anchor. A lot of people were talking about that. Every time people bring up anchor to me, I was like, I got to check that out. I got to check that out. I never checked it out because it just didn't make any sense. They bought 560 million worth of locked Luna. So half a billion worth of locked Luna in that position then collapsed to 600 bucks. Well, that's a bummer. I mean, who here hasn't lost 560 million? Come on. 3AC allegedly used counterparty funds to build a nine figure USD position and anchor unbeknownst to its creditors prior to the collapse. That's never good. And let's see. No, that's not it. There's one thing to remember. In crypto, you're already taken on significant risk. So why I'd leverage? I got to ask people, why do people trade on leverage? I don't care if you're shorting or going along, but why? What is with the leverage? I think it screws up everything. That's going to be one of my five golden rules. No leverage. I've never done leverage, but I get all the emails and all the DMs from people getting wrecked. And of course, you're probably sitting there going, well, I haven't gotten wrecked, Rob, yet. But you do what you want. I'm not your dad. I mean, sure. So why does 3AC's insolvency spell disaster for crypto? Because they borrow from almost every major lender. FTX, Celsius, BlockFi, Nexo, BitMEX. If 3AC is unable to repay loans, all lenders, and they take a hit, this kicks off somewhat of a domino effect. And to finish this up, some lenders are doing the good thing, which like BlockFi, they just liquidated them off the bat. They go, you're not going to pay us. So forget it. We're going to liquidate you. Get it back. We're going to help our community. So good job, Zach Prince. Not a bad job. And this is the thing that's concerning. Excuse me. This is a list of 3AC's primary holdings. Many unlocks are yet to come. Let me say that one more time. Many unlocks are yet to come on tokens that are still vesting. So keep your eye on upcoming unlocks. I link this in the description. You can find this again. But if you're in any of these projects, you got to know that they're going to get dumped on. You're going to get dumped on near Polkadot, Salontera, Ave, Balancer, etc. And the question is, then we'll rob. When am I going to get dumped on? Well, let me show you what that is. It's called lockups, the great dumping. And we've talked about this before. There's actually a video we did being CJ Rykel from Market Rebellion. But I'm going to show you real quick how to find all that stuff. Sounds exciting? Oh, it is. So there's this great website. It's called Masari, M-E-S-S-A-R-I .io. That's linked in the description. And if you want to find, oh, I don't know, let's take a look at Polkadot. So what you do, you come over here. Actually, let's look at near. Let's look at near. I've been talking about near. I met the CEO a couple of weeks ago. Nice guy. You just come over to Masari. And again, this is not the pro version. This is the free version. So you can do this right now. And what you're looking for is the protocol. And there's near. See that near? I click on near. And I go profile. And there's a bunch of stuff here. And CEO says token economics. You click on token economics. It's going to tell you all this cool stuff. This is security, stakeholders receive rewards in near, network fees, and how it all works. Great, great website. Can't say nothing about it. And then you click on, sorry, you click on launch and initial token distribution. Here's a little private sales, you know, people like not you mean you. We'll get on this on early. And here's the supply schedule and the liquid supply curve. So what does this mean? We'll see all this right here series, you got staking rewards, community grants, operation grants, core teams, foundations early, because of the seed investors series a It's a step. It's a step. And where are we? January. So just know that this wouldn't have been a big deal. If it wasn't for Tara, Tara Luna, the greed of three AC and the financial irresponsibility that they did. Now, people are like, I need some liquidity. What do I get that? Well, thankfully, there's every so often like June, well, just happened June 14. Then we got June 21. And July 12. And so on if you go and you can do this on every single platform or protocol that you are investing into right now. So maybe it will behoove you just take a look at that and say, hmm, I own Solana. And maybe there's some big lockup period coming up. And I may not want to be in there at that point. I can't tell you what to do. Not a financial advisor, just something to pay attention to. Let me tell you how much you think about that in the comment section. And let's go to some good news, shall we? Socialist recovery plan. This was an interesting piece. Biggie sent me. Thank you, Biggie. And it's just, this is the recovery plan. This is from Simon Dixon. And bank to the future before I go on. The thing is, you got to get it. That's the little context. Simon Dixon, he's an OG in this space. He's been investing in Bitcoin since 2011. I've had him on the show a couple of times. Well, great guy. Nice guy. And he really wants the crypto community to do quite well. And he started a company bank to the future. Plan B retirement. And he invests into some little small places like Coinbase, Kraken, Bitstamp, Bitfinex, Ethereum, so on and so forth. And his investment firm have done a lot as far as investment and having things grow. They also have co-invest with these guys, Google Ventures, Draper Associates, SBI Group, Andries and Horowitz, Founders Fun, I don't know, Graycroft, Washington Capital, Digital Currency Group, Digital Currency Group. So a lot of big names. So when he put this out, it was quite interesting. Well, what's going on? And yesterday, I was kind of a rug pull. I'll be honest with you. So Alex Mishinsky and the Celsius crew were supposed to do a live stream, an AMA. They just yanked it. And they said, sorry, we're all hands on deck and blah, blah, blah. And I said, on a tweet, I can't do anything. Sorry, I can't. But I told them, look, you have to do something. You have to let people know what's going on, Alex. And I'm sure their lawyers are saying, well, don't do this and don't do that. But you got to tell them something because I hear people saying I can't afford living expenses because I invested way too much. I'm totally broke or I'm contemplating suicide or something awful like that. So I'm like, you got to tell them something. You got to tell them something. Well, they can't do it. So I'll tell them something. This was a great thing. What's time is doing. So I linked in the description, you read the whole thing, but this is the paraphrase. Since 2011, I've seen Mt. Gox collapse the market, ICOs collapse the market, and now leverage collapse the market. In each cycle, we innovate solutions using new tech as a Celsius shareholder lender and Bitcoin evangelist and do the short-term systemic impact on those that own Bitcoin. I am keen to support Celsius with a recovery plan. In 2016, Biff v. Nex needed a plan to recover from their hack and I co-founded Bank of the Future to support them and execute a recovery that involves security tokens, debt and equity and gain investors very high returns for the high risk that they took. I believe traditional finance will not have a timely solution for Celsius as we saw this in the past with Mt. Gox. That still remains unresolved 10 years later, and I'm always sick of hearing about Mt. Gox and people don't even get paid and da-da-da-da-da. Screws the whole market, but 10 years seems like kind of ridiculous. And of course, this Biff v. Nex was, that hack was resolved in nine months. So okay, this can only be solved with a solution using financial innovation, like we do with Biff v. Nex, resolved in nine months and worked out very well for depositors. It's not my place to reveal information before Alex and the Celsius board are ready. It's my position to offer solutions as we have the experienced license and technology to do so. Licenses and technology to do so. Energy has come back stronger from a disaster, and now it's time for us to support in a bottom-up way. Compliance of regulations, we have always followed. So here's the thing. If Simon didn't have a decent plan and to talk to those guys, because he's put a lot of money in, they didn't have some kind of plan to bring them back out of it. I don't think he would have put out a statement like that to go for. No, I could be 100% wrong. I could. And it's, it could look very bad and bleak, but even, even Celsius reached out to me and they asked me questions about, you know, if there's been any kind of FUD that has been going around that people are paying me to say, not that I'm saying that I spread FUD, but they said, but we've heard these rumors. I said, no, nobody I know has. So just get out there and tell people what you're going to do and stop beating around the bush. Again, who knows what they can or cannot do. But it was interesting. We did a DCA show yesterday and me and James and Ben were talking after the show. And James said that he was looking at some on-chain analysis. He said, you know, between 70 and 80% of all the funds that Celsius has are still on chain because there's some lockup issues. He goes, but it's there. So he's like, well, maybe it could be a positive thing. I just, I don't want to give anybody too much hope here. I don't know what's going to happen, but at least it's a one step in the right direction. Anyhow, let me just think about that in the comment section. And then lastly, this is what it really comes down to. Remember that first thing we talked about? Everybody's got the brain power to make money and investing, but I don't know if it has a stomach. This is really what it comes down to. And I can't tell you when to invest or what to invest in. I can tell you what I'm doing. Like I said, I bought a little bit of Bitcoin today because I'm like, gee, 17.7 in one day. It could go down again. I'm okay with that. But that's the whole beauty of dollar-cost averaging, right? So anyhow, this is Kevin O'Leary. He explains why he's buying a dip, which I got to tell you pretty ballsy. Let's see. So this is what he says. I'm not selling anything. Long-term, you just have to stomach it. You have to understand you'll get volatility and that some projects aren't going to work. And that's very true. Remember what I talk about? Like just take a look at salt and dash. And I'll say, well, dash can come back. Sure. A dash of salt. Dash never hit its all-time highs since the last cycle. And salt never did anything really past it going parabolic. Just so just know that you can't DCA your way out of everything. Some of these projects are going to die. He, which would be Kevin O'Leary, currently holds 32 positions in the digital asset space. And it's a lot of stuff, including Solana and blockchain from Polygon. Also, WonderFi just became the first crypto trading platform that featured on the Toronto Stock Exchange. So I just thought it's interesting that, first of all, Ken O'Leary was a big, not an advocate, I would say, of crypto. And all of a sudden, he came as very big. It became, and of course, in the swell, it became 20% of his portfolio. And now, of course, from the drop, now it's like 16%. But it comes to my last point, which is this. We knew that this was going to happen. We had talked about this. We cannot live in a perpetual bull run. It doesn't work like that. I know that the bull run or the four-year cycles lost a little popularity because there was no blow off top, but it still remains the same. And again, January 12th or 2012, you got a halving all-time high dip reset in 2016, 2018, halving all-time high dip reset, 2020, 2021, halving all-time high in May. We almost hit a November 2 in 2021. Then we're taking a dip, and it's quite a dip, and then a reset where everything gets boring and goes sideways. So this really just comes out of this. This is what I'm doing. And I'm not telling you to buy the dip because even I haven't bought the dip because in a bear market, it's stupid to buy every single dip. You can't do that because you just get dipped out. So I'm just sitting back. I'm taking my spot. I think we're going to go lower, but I'm not 100% sure. That's the only reason why I buy a little bit of Bitcoin today. I think it could still go down to 15k. Actually, actually, at the end of the show yesterday, me, James, and Ben, the question was, do you think Bitcoin would go to 25k or 15k? And I was like 15k, of course. And that's what I think. And now we're at 17.5, so it doesn't matter. The whole thing is this. Time in the market's greater than timing the market. And when you do stuff like this, I mean, when we're DCing, it just looks like this. When everything's super boring, like this is where I made pretty much a boatload of my money. Just when it was boring, no one wanted to do anything. When it's boring, when it's going sideways. But the thing is, you got to wait for things to kind of settle down a little bit. And once you see that meme of that person poking Bitcoin going, do something, that's when you say, okay, this might be the time to get back in. But again, I can't tell you when. These are just the things that I see. And that's it. So look, let me know what you think about that in the comment section. I know these days are tough, but we knew they were going to be tough. If it was easy, everybody would do it. And that's where we're at. So let me know what you think. And that concludes the news for today. Sorry, I don't have better news, just as what it is. But if you want to stick around, we'll do the Q&A. I'll answer all your burning questions, the best of my abilities, and we'll go from there. So let's jump into it with a little Q&A. Well, this is encouraging. Gas fee fees, my man. Back in