 Digital asset news like a top stories in crypto current angel assets and break them down to bite-sized pieces today some bad news Yeah, I'm token holders are burnt the hardest after price plunges to zero and we're gonna take a look at the negative aspects of decentralized finance or defi also Cardano's upcoming Shopify integration will enable ADA payments in over 500,000 online stores, and I tell you someone who has an online business or a couple of them This is pretty big news speaking of big news u.s. Postal Service files blockchain voting patent Following Trump cuts, and I gotta tell you this is one of those things This is one of my pet projects that I really look forward to and that is voting on the blockchain I think this is far overdue. I don't understand what is taking so long and finally in the eat some crow section grayscale investments enjoy its best week ever after national ad blitz and we're gonna talk about What I thought about the ad beforehand and Just how wrong I was before again that let's take a look at the market. It is August 14th It is roughly 3 o'clock p.m. Texas time. Let's see what's going on So Bitcoin just hovering I think just hovering under 12,000 I Would like to see a nice little breakthrough. I think we all would but 11-7 is pretty darn good and 0.8% up I like that. Also aetherium Doing gangbusters hitting 438. I think 450s around the corner and I got to tell you I think there's a lot of room to run because after it hit that $400 ceiling It just seemed to like just take off like it was no resistance whatsoever So fantastic all those aetherium holders XRP usually this is where I say XRP whatever sense watch out, but to give a little credit it is up 6.7 percent So hey look at that 30 cents tether is still tether and that's just how it is chain link Down a little bit looks like 3.1% 63 for the week and I know it was getting up to there to run 1750 so a dollar above, but I got to tell you I never thought it was gonna go up that fast that rapidly, but here we are So all the chain link holders congratulations tip of the hat Bitcoin cash up great cardano up a little bit That's great Bitcoin SV up. No idea. Why don't you know why it's in the top 10? Honestly, and that's about it. So what looks like people EOS for some reason tron all you tron holders Must be pretty happy 12% four and a half percent eight percent for iota 2.8 pretty good now as far as DeFi We're gonna take a look at what's going on as far as a little tumbles even though I got to tell you Ava's up 7.8% So we'll see what's going on. This all comes down to a Historic crash for what's called the yam token. Let's jump in so first up yam token holders Burnt the hardest after price plunges a zero so yam finance, which was an experimental I got to make mention. This is very experimental DeFi protocol This was kind of the fringe of what could happen I thought was pretty interesting what they did here, but it crashed to zero after discovery of a rebase bug Compound urine finance and balancer plunge shortly thereafter, but I got to tell you even looking at compound Let's jump back compound here is number 31 It's only down 1.9 percent and Ava's up 7.8 percent. So I mean not too shabby so for all the things about a little bit Paul Bex here and there but really nothing to do with the overall Ecosystem or what's going on with the other projects, but it is really all it has to do with this game So what happened? Well yam finance. It's an experimental DeFi protocol So it's market cap crashes zero within minutes yesterday on August 13th with it major DeFi tokens when we was talking about plunge as well So this is what happened on August 13th yam co-founder. I gotta tell you what a name yam Brooke or Brock Elmore announced the protocol had a bug pretty big bug in an official medium post yam developers wrote Hey shortly after 7 a.m. On Thursday August 13th We submitted a governance proposal and cast a vote with what we originally believe were sufficient votes to be able to Enact it shortly thereafter with help from security experts We concluded that the rebaser bug would interact with the governance module and prevent this proposal from succeeding so they found it just a little too late and Elmer co-founder there emphasized in a later tweet that he is thankful for the insane support from the community He said hey, sorry everyone. I failed. Thanks for all the help, but I'm sick with grief and Yeah, I mean look again It was experimental and when I first saw this I was like man, did everybody lose their money or what's going on? But not so so here's what's going on do it. It's decentralized nature When yam first launched it allowed users to stake various cryptos to earn yam So the staking model enabled the yam protocol to distribute yam tokens in a transparent way So essentially what you were doing is that you were putting up things like compound Avalen chain link whatever And you were giving back yam, so you weren't Putting up any cash you weren't putting up any type of cryptocurrency You were just staking it and from what I understand you could unstake it whenever you wanted to and it was just a good Experiment unfortunately didn't work out so hot on this one. We'll see what happens later on But anyhow within 24 hours nearly 500 million dollars worth of capital was locked in the yam protocol I gotta tell you That's impressive, but it's also scary at the same time and I know DeFi is the hot word right now, right? You cannot Swing a dead cat without someone talking about DeFi and I got to tell you so DeFi sounds fantastic And I think it's gonna be big but again It's I've seen this this whole song and dance before I've been around you've been around probably And you know like things that are very hot ICO token craze, you know different things like that There's only so much I can actually do and DeFi who knows how many projects are gonna make it who knows how far it could go But I think people are just losing their minds just a little bit That's why I'm always you know preaching about just the slow and steady pace But you know hey, what are you gonna do? It's a lot of money to be made and people love to make money And moving on it says well no assets staked and yam were lost the value of yam itself dropped to zero Kelvin co the co founder of a venture capital of Spartan black said big yam holders were hit the hardest He said so much for yam farming the big yam Hodlers got burnt the hardest anyway. Thank we know assets for lost exactly so like nothing not the venture nothing gained, right? I am sure someone somewhere is already preparing the next iteration of crop farming So most of the yam holders were held by users who that were distributed through staking But some it was other way some users bought yam on decentralized exchanges like uniswap meaning that they put up cash And that cash is gone because everything went to zero. However, you know, it doesn't go to zero until you sell out But I got to tell you there is some the concern thing was this is that take a look at the price So it went from essentially nothing to all of a sudden it was all the way up to let's see 85 87 97 91 and it topped out at a hundred and fifty nine dollars and fifty four cents per yam So you take a look at that and then here's where they found a bug Well, what's going on? There's a bug and then 14 bucks and then all of a sudden boom down you go to a 20 96 cents 70 cents. I think right now it's below even that so again nothing ventured nothing gained and here We are but my final thoughts are this great experiment bring up the issues with DeFi I was you know, I got to tell you this is another thing that was wrong about I was always always critical For Charles Hoskinson and Cardona because they were so slow so meticulous that they're in the same way But I got to tell you sometimes it does pay off to take that slow road Double triple quadruple check everything make sure it's right and then move forward So tip of the hat to those guys anyhow as far as DeFi go expect some bumps and even the occasional sinkhole But I do think it will be huge especially for small businesses. Alright, let's move on next up Cardona's upcoming Shopify integration will enable payments in over 500 half a million online stores Let me tell you that sounds good to me So what's going on here the latest and unique pools of the Shelley network is the shop stake pool That's developing the first cardano e-commerce integration for Shopify, which will enable 88 payments over half a million online stores this developer You know university is going to build cardano integrations with e-commerce and enable customers to pay for their online purchases With ADA forget this zero fees and zero commissions So I'm like, alright, well, you know, tell me more because let's see what we got So one of the main aspects of the project is that neither the shopper or the online retailer We'll have to pay any fees and commission to the platform on top of the price of items bought and I got to tell you So for me in my online businesses, I paid 2.99% Plus 30 cents for every transaction. That's usually what you're gonna get for stripe These are what you're gonna get for PayPal as highway robbery every year and we're not talking like this is a couple hundred bucks here It's a thousand dollars. I mean easy easy on each business So when I say something like this, I'm all about it and you can bet your bottom dollar that other Retailers are gonna look at this very hard and go, you know what I like that. I want to do that I don't want to pay to these processors some ridiculous fee when I can go over here So again, this is the thing that you couldn't see coming just what you know a year ago two years ago This is what I'm talking about as far as the things that can happen with cryptocurrency and digital assets Making the world is the better place at least for me in my business. That's really what it is Anyhow moving down it says with a possible reach of half-mine stores Cardano's use case will be a solid start To push for further adoption and boost 80 is priced to a dollar Please that would be fantastic and that's about it. So again, I'm not gonna beat a dead horse But I'd like to see that I would love to see that integrated as soon as possible and things are moving So we will see all right moving on next up. This is more of a article That's more dear to me because I've always talked about I only see I see blockchain as a fantastic use case Especially for voting. I mean if we can open up a bank without stepping foot outside our door We give them the AML the KYC the social securities the the passport or our IDs and we're able to you know, have a ton of money out there. Why can't we vote like that? This doesn't make any sense to me. I just don't get it Let me know what you think in the comment section, but I don't get it So this makes me excited a new patent has been filed by the US Postal Service or USPS Which appears to use blockchain to make mail-in voting a safe alternative to physical polling stations Amid the COVID-19 pandemic and let me just tell you something right now There is no reason that we have to go out to vote when we have a very easy way to do things I know people are gonna say well fraud and this and that sure I get it But you know what this should have been implemented a long time ago And when it does I gotta tell you I don't think the COVID-19 coronavirus is the only virus that's gonna come out and Cause have it globally. So as time goes on we need to get these things We need to get these initiatives, you know put in place so we actually do the things that we used to do because Who knows what the new normal is actually gonna be? Anyhow, let me get back to the story This development releases to a voting system that also incorporates the use of Cryptographic elements such as blockchains as are used with crypto graphic currencies to track and secure the vote by mail system set a patent Filing dated yesterday. So they've already put it in they're waiting for it to be approved And it looks like they're gonna push forward and that would be fantastic In some embodiments a blockchain allows the tracking of the various types of necessary data in a way that is secure A lot of those to easily confirm that data has not been altered the patent detail I gotta tell you. I'm tired of hearing mail-in voter fraud whether it exists or not That's not what I'm talking about I'm just talking about here's a way to Finally put an end to even the discussion like let's just use blockchain and let's just do it this way and then we can just move forward Why not? Lastly, it says the patent laid out voting operations based on blockchain complete with ballot codes E signatures and other intricate points working in tandem with two databases. So I'm not gonna be a dead horse again. I think this should be in place I think it should have been in place a long time ago There's no reason why we shouldn't have this and if you everything that's going on I mean everything around us. I mean just take a look around. I mean we have things for currencies We have things for essentialized finance. We have things for tracking of you know various products and Fraud and now we are looking into something like this for voting blockchain Just like Alex Machinsky of Celsius says is going to swallow the internet hole And it's going to be a bigger thing than the internet ever was Maybe even 10x what the internet was and I gotta tell you now that things are coming to play. I totally see it All right, so that's it for that. Let me know what you think of the comment section Let's move on to our last article. So last up. This one's pretty funny actually grayscale investments enjoy its best week ever After national ad blitz so grayscale investments had its best fundraising week in history Let me read that again grayscale fundraising best in history Following an ad blitz on a number of major television networks grayscale netted 217 million investments in the days following the campaign. Let me just tell you this the campaign was like three or four days ago So not too bad not too shabby for those four days. So whoever the ad agency they're probably just strut around going Yep, that's right. That's our commercial. We did that Anyhow the firms Bitcoin trust fund was the biggest contributor to the success adding 14,000 plus Bitcoin which is valued at hundred thirty seven million According to an SEC filing. Of course, they have others They have the XRP trust the Ethereum trust everything else like that, right? And then on top of that, let me get this out of here Galaxy digital took out a full-page ad in the financial times last week, but I think that's in Great Britain I'm not for sure But yeah, galaxy digital is like hey, we can get on that if you guys did 200 million We're gonna try to do the same thing do the advertising and that's the backbone of every of every company marketing advertising, right? So here was the ad itself I'm not gonna play it because so many one of my subscribers rightfully so said hey Watch out for copyright and I was like, oh, yeah, it's true. So I shouldn't do that. So I mean the video I'm just gonna skip around they just talk about hey fiat Currency a long time ago. We used to use grains. We used to use, you know pebbles We still use gold and whatever else and they said now look at what's going on with what the world is There's money printing and it's very dangerous and who knows what's gonna happen You need Bitcoin, Ethereum, XRP all these different things you need in grayscale and I got to tell you at first I was like, hmm. All right. So I will just give you my let's just I'll break it like this Let me give you my final thoughts in person on this one. All right so I want to say this one in person because This was one of those articles especially this this advertisement that I saw and I was like That's not a good ad just isn't and then when I when I put it out there People some agreed some didn't but the majority was wasn't a great ad However, it doesn't matter what I think it doesn't matter what anybody thinks it really just comes down to Does the ad work for a certain segment of people and the answer of course is a resounding yes So I got to tell you on this one. I got it totally wrong I thought it would be like a bomb or whatever else and I looked at it I thought to myself well, even though it wasn't a great ad What made it work so well? And I think the answer is that it doesn't so much mean that the message or what it is It all comes down to the product if the product is fantastic if you have water in the Sahara It doesn't matter how much you're selling it for or how much marketing I mean you don't need any marketing because it's water in the Sahara because it's just a fantastic Product and it's the same thing with Bitcoin and digital assets They did a really smart thing on there and they talked about quantitative easing They talked about money printing and they talked about fiat currencies So as they pull all these things together it just makes sense and people like you know what I've heard about that And I've heard about money printing. I know there's a problem. I know I should do something about it I think that's what works So if you just look at all these things together it makes me even more bullish about digital assets because look this was this was one ad Over the last three or four days and they made hundreds of millions of dollars. So What does that mean? I think it means that we're early. I think it means that we have a very bright future So that's all I wanted to say one. I was wrong. I Just I didn't get it right and then and two it's a fantastic product And I think we're all gonna do very well, but we'll see what happens All right, let's jump back. All right, and that's it. So thanks for sticking with me. Really appreciate it We'll do some random shout outs, which were my favorite parts if you don't know there's a join now button underneath and You don't get anything special. There's nothing like a members area. It's just like a tip It's like a buck 99 and you want to great these guys did and I appreciate it So I just give them round of shout outs, especially the new one So William Howell Carlos Gomez droplet. There he is. Hold on. Who is that? Vito there in I nailed it Patrick May fulja K. No man. Who else we got Sean Thompson? Frederick Brutier, I don't know if I said that right Sally's W. Jack Allen and Jesse B So everybody I want to say thanks so much for Sonny I've really appreciated it if you like those types of videos me too much gonna show up on your left and right Don't know which where they are cuz you too best control over that, but Again, you too best control over that also the as that you saw today With if they were scams or not, I have no idea. Those are also controlled by YouTube So if you got a problem go to the big guys, they'd love to hear from you and that is it So again, thanks for sticking with me. Appreciate it. See you on the next