 It's Robin today. We've got a lot of things to go over. So let's just jump right into it First of all, we'll take a look at what's going on the market There's been a little bit of a pullback. The question is what's everybody waiting for? I'll tell you what it is. It's going to be the crypto week and it's going to be quite a roller coaster We're gonna take a look at the earnings reports that are coming out for some big big big tech companies We'll take a look at the Fed and the GDP numbers and also we'll take a look at if they're potentially will be a Recession and what the government defines as an actual recession because surprise it's already changed Then we'll take a look at a story and I just want everybody to This might get a little a little bearish on that side So I want everybody to get the flip side of this and zoom out. We talked about a Barclays Story as they invest into copper and what that actually is then we'll take a look at the Voyager offer from FTX and Sam Bacon Fried and if it's really something that should be considered and lastly We'll take a look at a project that just came across the desk. It's called a Satoshi island where we think things are strange now Just wait for this little article. So we'll take a look at all those things But first let's take a look what's going on into the markets this morning So yeah, not much to say a little bit of a pullback in 24 hours not surprising We did we've been doing pretty well quite honestly a little bit of resilience. I like it Hopefully people took if you had to take profits you could but if we just go down last 24 hours Most things are down and people are just undecided well except for uniswap and I can see why people like to use uniswap these days Instead of centralized exchanges. I can only understand why that potentially could be but it's good and we'll see how this all plays out because there's a lot of things coming on the pipe and that is just How it's gonna be this week and there's some things to pay attention to which you probably already know And let's take a look at those specific dates and how this is all gonna work out. So first up the earnings Here's the earnings calendar for Nasdaq and there may be about maybe other ones and things that are coming out But right now I really just care about the tech because that's pretty much how we are in lockstep You know what would be a good question, I guess See what Nasdaq is doing this morning now down point two six percent. Okay on a big deal So here's what we have so for today As far as which one's reporting cadence design systems NXP semiconductor's new mon corporation I have no idea what any of these companies do nor do I And familiar with them. Well, we can sort this by market cap. This is nasdaq.com I don't really care about this what I care about is Tuesday So Tuesday comes along and we're gonna see the earnings report from Microsoft's pretty big company Alphabet's Google things like that visa Coca-Cola McDonald's. I guess that's interesting stuff But these top ones are pretty big to me that on Wednesday Metta is going to do a little bit of earnings report We'll see how that works out and that's Wednesday in the morning Qualcomm T-Mobile Bristol Myers Squibb Equinor And then on Thursday, let's see who we got. Oh, yeah Apple and Amazon so we'll see and of course Mastercard and Pfizer So we'll see how this all works. Oh Exxon mobile also So this is again, this is one of those weeks where it's like the Super Bowl for traditional finance and Also cryptocurrency because we're actually in lockstep with them. That's my personal belief So all these dates are gonna be important. We'll see how it all plays out, but I got to tell you Just me I mean, I don't know but we've heard a lot of these big tech companies laying off people and Usually when that happens, it's not because the earnings are so fantastic Again, we'll see how it plays, but I don't expect the greatest of news moving forward So that's what we have as far as like the earnings themselves and also don't forget GDP numbers come out on Thursday, July 28th. Why is that important? Well, it's important because if we have two consecutive quarters and Last quarter in 2022 was negative 1.6. That was the third estimate the revision Which means there was one quarter and GDP decline Now the question is on Thursday. Will they come out for their first estimate and say yes There is a decline in GDP which would equate to what we call a recession, but not so fast Because that's what we usually call it. However the White House just put out this nice little Piece of information that said what's a recession? Well, while some maintain that two consecutive quarters are falling real GDP consider recession That is neither the official definition nor the way economists evaluate the state of the business cycle, that's interesting every economist that I've seen and and Heard online and listen to so that's pretty much it there. Maybe these are I know Australian Austrian and Keynesian different types of Economists, but okay, sure. We'll go with that It's unlikely that the decline in GDP in the first quarter this year even if followed by another GDP decline the second quarter indicates a recession No, nothing like the government moving the goalposts. So that's that part and then to really get clarity if you call it that Here's Janet Yellen and she was on meet the breasts with Chuck Todd and he asked her a pretty basic question about what they consider a recession and What that means moving forward. So I'm gonna have you Listen to Janet Let me share my tab so you can actually hear it. Let me mute myself. Just take a listen and then actually tell me how Wrong or right she is and keep an open mind before you listen because actually she does have some pretty good points Just take a listen to this Let me just start with this many businesses seem to be preparing for a recession Should all Americans at home be preparing for what's for a recession that many people think now is likely well Look The economy is slowing down It last year it grew very rapidly at about five and a half percent and That succeeded in putting people back to work who had lost their jobs during the pandemic The labor market is now extremely strong Even just during the last three months net job gains Average three hundred and seventy five thousand This is not an economy that's in recession but we're in a period of transition in which growth is slowing and that's necessary and appropriate and We need to be growing at a steady and sustainable pace so there is a slow down and businesses can see that and That's appropriate given that people now have jobs and we have a strong labor market but you don't see any of the signs now a a Recession is a broad based contraction that affects many sectors of the economy We just don't have that consumer spending remains solid. It's continuing to grow output industrial output has grown in five of the six last most recent months Credit quality remains very strong household balance sheets are generally in good shape but inflation is way too high and You know the Fed is charged with putting in place policies that will bring inflation down and I expect them to be successful the administration for its part is supplementing those Fed policies with things we can do we've cut the deficit by a record one and a half trillion dollars this year Releases of gas from the strategic petroleum reserve are putting some downward pressure on gas prices We've seen gas prices just in recent weeks come down by about 50 cents There should be more in the pipeline and hopefully we will pass a bill that will lower prescription drug costs and Okay, so well first of all I don't know if she can take or if the government can take credit for all those things that she talked about but Sure, but there is one part that she did say that was a little bit interesting Which is the labor market and I this is a thing that I can't figure out either Which is I've talked to a lot of friends a lot of different industries and They're like we cannot find people fast enough We have a labor shortage unemployment and unemployment rates are still around 3.6 percent It's inching up that is true And of course there's different companies that are laying off right now, but people seem to find jobs So that is the one thing that I'm looking at is going under scratching my head going some of that part doesn't make sense Now the things that she talks about I mean at least you got one thing right She didn't talk about that inflation is too high and she didn't say it's transitory like it was before so Again, this is maybe the government just moving the goalposts a little bit farther away or maybe That is exactly what it should be. Let me know what you think in the comment section I'm not a personal fan of what she said, but whatever let's just move on to the next one and Well actually before we do that just so you know I talked about us before is that this whole week is what I'm waiting for I'm waiting to see where the earnings report comes from if they're gonna come out and say it is a recession if we're gonna see 75 basis points or 100 basis points come out and usually what I do is I dollar-cross average every day I haven't done that anymore I usually just buy on Sunday and then I just wait for these big announcements So like we did this last in July 13th and the CPI numbers came out and now I'm gonna wait for Drone Powell to come out and say yes We're gonna raise this to you know one percentage point or a hundred basis points or 75 or whatever else I Potentially could be I'm just gonna wait and see and then the cash that I've had over here just waiting It's gonna let I just let it accumulate and then I just see where the market goes and I put it into Crypto and digital assets mostly it's gonna be Bitcoin Ethereum, but there are some all site Will probably purchase and that it's between me and myself and I Sonya I just think about that's in the comment section and Before we go on it's not fanciest advice what I'm doing. Don't do what I do Don't listen to a guy who's in his mom's basement in a really nice green screen. So that's what's going on Let's move on to the next piece To zoom out because look Nobody really knows what's gonna happen in the future. We have no idea. We don't know if this If the rates are gonna come out and drums gonna say, you know what we're gonna do 1.25 and of course and then we're gonna come out with the GDP numbers and Reduction of you know two points off whatever Nobody has any idea, but sometimes it's a good idea to zoom out and look in for the long term And this is where right now everybody builds and they put those rails down for the next bull run Remember in 2017 we didn't have a bunch of banks at a bunch of institutions coming in We didn't have the president United States talking about a crypto We didn't have congressmen and congresswomen fighting over what was a security or what well kind of it But there wasn't a lot of these rails and just take a look at what's going on around you behind the scenes Which leaves me at this point Barclays so This was an article that don't think it's gonna get a much attention But I think it's big and just shows you how much institutions are coming in now again We love institutions when they come and they dump their money But we hate them when they sell Tesla, but that's just how it is You got to remember that the institutions they're not here for you. They're here for their All their Stockholders, so just remember that as they come in cheer them as they come out just go Hey, you make a profit good for you. I'm here for the same thing Barclays expected to invest millions of dollars in coppers Funding round report first of all who the heck is copper like I was looking at something like is this a commodity What are we talking about? Why is this on coin desk? I couldn't figure it out because in the article itself The funding round values copper at 2 billion expected to close in the coming days Barclays one of UK's biggest banks with assets around 1.4 trillion that's pretty big and Barclays prior investment institutional crypto service provider Elwood Tech in May and It's just pretty much just talks about how Barclays is investing in the copper. I'm like again I'm like, I don't understand who this is. So this is copper and I linked this in the description copper.co first of all great website. I gotta give it's very it's very nice They're engaging but what this place is it's Institutional investing and they do all the things that institutions want to do to get into crypto as this isn't for people like you you and I and When I was looking through this They have a lot of good information. I'm not gonna go through it But a couple of big names are in here. Hey, Meyer GSR Hilbert group links and like State Street And I was like that's pretty big place State Street If you don't know they have it's pretty big institution one of the oldest banks I believe with four point one four trillion dollars of assets under management and these copper Again, Elron FTX links was foundation They are a part of everything that's going on. So now we've got Barclays investing into them So the question that I have for you is this very simply If you have this many people this many institutions coming in and they haven't pulled out Maybe they've taken little profits here along the way Do you think that this that crypto is going to zero? Do you think that these institutions haven't done their own due diligence and taken a real hard look them and go? You know what? Let's just gamble it away. Just go for that me personally when I see these types of things I think you know what maybe I am in the right place the right time. Maybe it is early. Maybe Bitcoin will not go to Zero like people talk about so these are just the things that I think about and especially when I take a look at it I zoom out as a big institutions coming in. I think this could be a big play And yeah, let me know what you think about that in the comment section. Let's move on to one of our last pieces the Voyager buyout so This has been I give this this question of chats, Rob. What do you think about this? What do you think about this buyout what things going on first of all? The reason why I have these rules that I put these rules up was because of Celsius and Voyager These are the things that I would talk about but I wouldn't talk about enough So now I make it a point to drill in everybody's head because for some reason people like to listen to just part of what I'm talking about and just forget about the rest So here's the rules again. These are my rules They don't have to be yours, but he's the ones that I abide by and I'm not a financial advisor Remember anything you invest into just assume. It's all gone because in this industry in this sector It's a lot like gambling it really is so don't invest more than you can afford to lose and go from there so Also remember everything's a scam everything's a scam until proven otherwise if you follow this advice you're gonna be a lot happier person Verify don't trust next one. Don't leave any on exchanges. I used to talk about how what a pain in the a is to take things off exchanges I think you know what a bigger pain in the a is is losing all your your crypto and won't fell swoop So learn about it. Go to Dan teachers crypto comm. It's a hundred percent free in module two I show you exactly how to use a ledger what a private key is I have show you exactly how to take it off different Exchanges and make it super simple and bite-sized pieces Last two don't use leverage. I'm not a big fan of 2550 points I mean two x maybe And then of course lastly take profits along the way anyhow. That's that part. Here's the part about Voyager and this look this new little wrinkle that came about So this is sam bacon free and he came out and said hey Let's uh, let's offer to buy up buy a voyager and voyager came out and said that's a low ball offer We're not going to do it. However There is some credence to this this is this is the uh the tweets of why Sam is doing this in ftx. He goes look Voyager lost customer assets. That's true. And uh, that's why I put that video out in june 22nd That said hey, guess what voyager just gave uh over a half a billion dollar not just but had given a Over half a billion dollar loan to three arrows capital without collateral That's insane So i'm taking all my money out Our crypto out and I did for the most part not all but unfortunately there's some some left there But it still has the majority left. Why haven't these been returned to customers yet? Great question Sad facts from a bankruptcy process. Oh, that was a good one sam. So then he goes on to say Let's say that voyager has I don't know three quarters of the assets left He says I don't know the exact number It seems like the first thing that should happen is that customers get back the 75 percent Then later get back the rest if anything is recovered from three arrows capital But it hasn't happened. Why well Traditional processes that before customers get their assets Back they get effed first. There's a long drawn-out process During which funds are frozen. It can take years remember mount gox that process still going on look That part is true But there is other ways to do these things and this is what simon dixon has proposed for celcius. It's a lot It's a lot different than going through the whole banks and appointing uh and and uh trustee to actually handle everything or To vote on something and say look you're going to get back 50 60 percent Then you're going to get a security token and that security token can be worth x amount and who knows how long But it's going to take a little bit of time, but you're going to have to wait There's a lot of options out there and this is what sam is thinking that he wants it This Oh, meanwhile the entire time various bankruptcy agents are slowly bleeding the customers frozen assets dry with consulting fees and that's I got to tell you us Brad garling house came out and said that they've already spent a hundred million dollars in legal fees over two years fighting the scc so If you don't think that uh The legal process is expensive. I've got a bridge to sell you This can cost customers hundreds of millions of dollars by time all of a sudden done And finally there's an embedded opinion option see if a customer had won bitcoin on the platform And bitcoin was worth 30k at the time and then it takes years to go through bank of bankruptcy What do they get back one bitcoin or 30k? And that's one of those things that was going on with mount gox as well Probably whichever is worth less That's an opinion. That's not the that's not exactly what could happen So the longer the process drags out the more Optionality customers lose. So what's going on the voyager? Lots of parties are trying to bid 10 cents in the dollar If a customer had a hundred bucks on the platform, they pay 10 bucks and so on and so forth Now the consultants are slowly draining them. So we submitted an offer if they accepted any customer Who would come and get back their share of everything that remained as soon as possible so the customer above would get back 75 bucks immediately and retain their claim in case Morvers are covering from 3ac. They would let customers choose. So what's against the offer? It's voluntary customers wouldn't have to use it But they would lose if it takes some of the assets or fees okay As a disclaimer, I also have a stake in the process, but I'm sure I'm pretty sure our offer hurts the stake There's a chance equity and the voyage will be worth more At the end of the day, we think voyagers customers should have the right to reclaim to quickly claim that There are many assets if they want without rent seeking in the middle. They've been through enough already PS to clarify our offer would give voyager customers back 100% of the retaining assets that voyager has Including claims and anything to recover in the future And that's pretty much it But here's the question though Let's say we move forward And I've got one. Let's say I've got one bitcoin on there and that bitcoin is worth like just what he talked about Let's say that bitcoin is worth Well at the time of when this in june 22nds were around 30k somewhere around there let's say in the future as the earnings reports come out and the And the rates that drone power hikes it up to and and maybe the more talk of recession Now bitcoin goes down to 19 000 So when this all gets said and done am I going to get 19 000 in cash? Or am I going to just get that one bitcoin because last time I checked one bitcoin is still one bitcoin Don't give me 0.75 of the of the bitcoin and that question Was actually answered right up here Let me go back This is from remnic and he is the head of product and investing at ftx and he said To clear up some confusion. We provide the fair market value of the liquid assets. So if this transaction was happening today We'd buy eth from the estate at 1600 As opposed to 1150 On july 5th. So if it happened today So again, there's a lot of variables up up there I'm not sure that any one shape or form has the best interest at heart But you got to remember And I hate to say this it's a business It's a business and it sucks that's uh, you know people like well, what about looking out for the little guy? Well, let's hope they do but usually when there's billions and billions of dollars little guy gets swept under the rug and uh That's why I was so Important that when simon dixon came out and he was talking about his plan for celsius and to have people's voices Or to put their information out there to actually send it over to to him and bank the future And then they could talk for the people that were voting and go from there me personally I don't think there's going to be any good offer coming out I think we're going to take a pretty big haircut unless Something drastic happens. So in my opinion, is that deal good? Probably not all's I would say is uh, of course, I can't no one really cares what uh What little digital asset news says but I would just wait for probably a better offer. Anyhow, one thing about that in the comment section Let's finish up with just real quick This is crazy there's an island it's called satoshi island And apparently this is happening right now you can purchase An nft on a tropical island. I would live in tropical and it's called Puerto Rico. It's awesome. You should check that out first Uh, which is right off the coast of australia Vanuatu and they're going to sell plots of land as nfts And you're going to be a citizen of this island and uh, I'm actually going to be talking to this guy later today James and uh, I mean it looks interesting. I'm not going to invest into it I will just tell you that right now, but I just thought it was interesting that an entire Island has been bought and people are going to be able to buy it with nfts and go from there I'm like that's pretty insane and citizenship and stuff like that But I got to tell you. I don't know. I'm not I don't have a lot of uh, I'm not very I mean, it's an interesting concept. Don't get me wrong, but it kind of feels like this I hate to say that but that's just how I see it. Anyhow, I want you to think about that in the comment section That is it for today