 Well, Mr. Alasa news or Dan for short. My name is Robin today. I wish I had better news, but unfortunately That's just not the case. So first thing we have to go over is that block five just recently announced They're bankrupt and they have entered into chapter 11. What does that mean for you and me? Well, if you've been watching the channel for any length of time, you knew that this was not the bottom I think we got more pain to go unfortunately, but relax It's all how you look at it and it's all what you do with it Also and take a look at some of news Binance is moving funds for proof of reserves Just a couple of things that CZ said that just give me a little bit of an off stance for what's going on Also, East Wales are dumping on Binance. Kevin O'Leary talks FTX as he was a spokesperson for it and also lines crypto exchange Shets down and they do it in the right way Also, I need you guys to keep your head up and plan now because today and the weeks and months that are coming up Is what separates us from them as I call it and lastly Yesterday's video was my thumbnail and title of yesterday's click bait Yes, and we'll go over that and last we'll just do a little Q&A. So the first things first is block-fies bankrupt and of course I mean when we talked about this Months and months ago, you know when everything happened with Celsius and Voyager, you know, of course, you know We did the videos on them wasn't fast enough Unfortunately Celsius with the video was within 20 it was when not within nine hours before it shut down Voyager At least we figured out two weeks beforehand people got most their funds out and it was great And then of course we did the rules and the rules were very simple the rules we put up It's all gone. Don't invest money before to lose Everything is scamming. It's up here. Otherwise don't even in exchanges don't use leverage take profits and For that I mean I told I mean we've been pretty pretty consistent on this channel that we said that the bottom was not in in June We were gonna see some more contagion some more problems and now here we are and This shouldn't come as a surprise to anybody Genesis is also looking at the crypto lending platform is also looking at bankruptcy They've already hired more else more Ellis and Ellis. I think more Ellis and Ellis bankruptcy firm and now black flight comes on says but when are the money so just real quick I mean, this shouldn't be a surprise anybody but here we go So this is what we have as far as a breaking news is about 30 seconds or so from Bloomberg So just take a listen But a breaking news out of New Jersey block five and eight of its affiliates have commenced to voluntary cases under chapter 11 of the US bankruptcy code In the bankruptcy court for the district of New Jersey The company will now focus on recovering all of its obligations to block fire Bias counter parties now this of course includes FTX quite Intertwined we'll get more details on how this story is gonna develop rock fire international filing in Bermuda for joint liquidators That's the latest this is Bloomberg Ha block fire in Bermuda just like FTX so yeah if you had any funds on block fire I'm gonna tell you I mean you shouldn't have had anything on any exchanges just didn't make any sense to me But if you did, I'm sorry, you know now you can learn and move forward It's just how it goes and then just to collaborate that story Got a little email this morning. Well actually about an hour ago dear Robbie Block five today voluntarily filed petitions for chapter 11 reorganization You'll be able to find the official announcement here. We know it doesn't matter This action follows the shocking events surrounding FTX and associated corporate entities and the difficult but necessary decision We made as a result to pause most activities on our platform Since the positive team has explored every strategic option alternative available to us and has remained laser focused on our primary objective Doing the best we can for our clients these chapter 11 case one able block fight is stabilized and blah blah blah It's boring after that. I mean it was already boring in the beginning, but On top of that, this is from the show Aaron Bennett You don't follow him great one follows as far as YouTube and Twitter interesting gentlemen And he says oh and don't forget FTX is the second largest creditor with a 285 million claim against block 5 so again if you if you add any money in block 5 And you think they're gonna get it back from the creditors. Well 285 million is is It's against FTX so I don't think that's really gonna happen. So that's what's going on and again if you had money funds on block 5 I don't know what to tell you I don't know. It was written in the stars. Not really. It was the most obvious thing you pass one of the most obvious things you possibly see It's okay. Good news on the horizon. So let me know what you think about that in the comment section I'll do a Q&A after that. Also, this is interesting It doesn't concern me what's going on. It's concerning the language that CZ is using very concerning so first of all finances moving funds for proof of reserves and if you don't remember proof reserves this was What CZ came out and by Nancy say look we need to sell police us our different exchanges We need to show proof of reserves and I thought it was a good idea at first But then if you think about it Well, if you have proof reserves to show you what the reserves are and each cryptocurrency and each crypto centralized exchange That's great. If you have a billion dollars worth of crypto But what if you loaned out two billion dollars? Well, that's not gonna show you in proof of reserves if you're taking loans out or lending out money money That's called proof of liabilities and you need both and cracking came out into the exact same thing So here we are another wrinkle. Let me know what you think because it's just this park It's interesting by Nancy explains that a hundred twenty seven thousand Bitcoin transfer not a hundred twenty seven thousand dollars a Hundred twenty seven thousand Bitcoin transfer points to proof of reserve audit So a few weeks ago CZ declared that it's bad news when exchanges move large amounts of crypto To prove their wallet address and when you get into this article you understand that I don't think it's That big of a thing at first But just pay attention to the end. So Binance sent Hundred twenty seven thousand three empty mine Bitcoin Which is worth more than two billion to an unknown wallet on a very 28th This is a report by will alert According to you on chain data the transaction occurred at 10 a.m. UTC costing finance a fee of just 42 cents Which is pretty amazing thinking about it two billion dollars was moved when I called you 42 cents try that with a bank Not gonna happen CZ subsequently took the Twitter to announce that the massive transaction was part of Binance's proof of reserves audit process Okay, things are looking good The auditor requires us to the auditor excuse me requires us to finance to send a specific amount to ourselves To show that we control the wall that makes a lot of sense just like we trying to verify a Bank account like on PayPal. They'll send you like two to transactions 20 cents and 32 cents And then you verify that you're like, okay, you have control of this. That's great It's a little bit more here, but you get the drift And the rest goes to a change address, which is a new address in this case the input transaction is big And so is the change So to me I'm like, okay makes sense The other wants them to show that you actually have control of that of that wallet Which you should have any happen in response to growing concerns the replies the Binance CEO posted one more tweet Arguing that investors who believed to fight all the time are also likely to be poor And he states, I know it's hard. You thought a fraudster is legit Sam Bankman You probably are already poor, but if you believe a lot of time, you will also likely to be poor life is not easy I agree in the last part, but the part in the middle reminds me of somebody else Who was it? Oh? Yeah, I was Doku on Where he had the same thing. I'm not saying that CZ Binance is Doku on that's ridiculous. However Then a lot of revelations come out and Doku on would say stuff like this. He's still poor I don't liquidate the poor. I don't gamble against the poor pretty sure he's poor To those communities bought by Luna what I said was have fun staying poor. I guess that's similar Just concerning concerning to me of around the language Let me know what you think about this the process of moving things as far as proof reserves having control the wallet That's the first part second part will be the language of what's going on and then also to further complicate things ETH whales Kevin O'Leary and another crypto exchange goes down Sue real quick Ether drops as whales move 73,000 ETH to Binance. Look usually when this gets done It means that people are gonna sell You know When they move it from a cold storage or another wallet to an exchange usually not all the time And that doesn't mean it's gonna happen I'm just saying that this is interesting around this time that everything is is dropping and of course the thing that we talked About yesterday the hash ribbons indicator as a 30-day moves across a 16 moving average and this is all about In Bitcoin mining watched the video yesterday but again This is what happened so Investors typically transfer coins a similar we know that according to look on the chain or look on chain The address the movie or 73,000 to Bitcoin was the one that pulled out 84,000 ETH From the decentralized exchanges curves a staked ether Ether liquidity pool last week So if you're not staking it and then you put it back in the exchange might probably sell it Maybe the price of liquid staking protocol Lido state ether token fell to 97 Almost 0.970 after the whale is over E4,000 ether. So I'm not sure what the price is today I'm just gonna guess that everything's down across the board and that's just another reason also Never we talked about as far as with Blockfi saying, you know, well, you know, we're gonna try to get the funds back and you know, unfortunately FTX is one of our large creditors Check this out Kevin O'Leary a FTX spokesperson came out and said specifically this he said look I spent the weekend on calls trying to sort through rumors Surrounding founder SPF and determine how much of his money could be recovered and this is what he said I'm writing it all down to zero I'm writing that all down to zero meaning. I don't think it's gonna happen. It's not clear what can be recovered There's a lot of allegations flying around but frankly, I've seen this move before It's a difficult situation. There's no question. There'll be a mountain of litigation I have to agree with him in his view unregulated exchanges aren't safe Regardless of their size. So he's trying to crypto exchange wonder fi shocker his own a crypto exchange Which is regulated by the entire on ontario ontario I always would say that wrong make fun of me in the comment section. I'm an american. What are you gonna do? Secures exchange we have confidence that the regulatory environment in canada scrutinizes accounts that can't be co mingled That's the keyword there co mingled. I can't find another place on earth right now safer than canada. Oh canada And I have to agree here as far as like regulation I think we need more I shouldn't say more. It's that's another racist I just think that we should have the ability to figure out which ones of these exchanges are co mingling our funds, which is what Something voyager did. It's what celsius did. It's what ftx did makes it looks like all different exchanges are doing And of course now we have if this was happening with other exchange. I don't know So I think if we're gonna say look if you're gonna go down take yourself out as far as a business Just don't co mingle our funds. We just want you to do a simple thing. We're gonna pay you To exchange the crypto for something we're gonna pay in dollars. We want some bitcoin We'll give you a zero point two percent or one and a half percent or whatever else it is. Doesn't matter That's all you got to do. It's very simple and just don't co mingle our funds So if you go down you guys go down let me keep my funds and stop screwing around unfortunately In terms of conditions, we let them do that because we were lazy and that's what it comes down to So let me just think about that in the comment section. Again, this is why we did the rules Don't invest more you can afford to lose No scams. We've had these these rules up for four or five months now. Don't use exchanges. Don't use leverage Take profits along the way I can't say it's I can't say it more simple than that and thank you for the ones and the majority of you have listened So thank you. That's it. Also to finish up line Now it's the big app Asian countries crypto exchange bitfront Announces closure to suspend trading by 2023 and this is how you do it folks Lions crypto exchange based in the u.s. Bitfront has announced closure on monday to shift its focus developing lines blockchain ecosystem great Bitfront suspended new signups and credit card payments on monday trading will be halted Customers can make withdrawals until march 31st 2023. Remember when that happened like when you know Exchanges would go down or something would happen or like businesses go down like hey We didn't make it. We're bankrupt, but you know your funds just take them out and that's it Great. I applaud these people for doing this the right way. I mean it didn't really work out the business wise But at least they didn't co-mingle things and off they go So let me think about that in the comments Now let's get to it okay I know that I get the reputation on this channel as bearish But it's just the truth. It's just the things that have been going on like I can't I can't tell you that you know, I just took a bite of this pineapple pizza and it tastes fantastic That's that's a lie. It's the same thing here with Uh, the bear sentiment and the bear situation that we're in we have to Deal with the reality and the brevity of our situation and that's why I try to be as honest as I possibly can so It's gonna suck for a while This year is gonna go down in flames. It's just be honest next year is gonna be sideways action Hopefully a little rebuilding next year or the earth that 2024 we're gonna have a bitcoin having and hopefully after that We can start to recover And do some things and actually make a little bit of run of it. There's bear market rallies everywhere to happen I don't think I don't know how many they're gonna happen. But again, I don't see really good things I could be wrong. I hope I hope I'm wrong So far it's played out the way I kind of saw things going However This is where you have to decide what you want to do. I can't tell you what to do not your dad not a financial advisor This is what I'm doing. I'm planning right now for the next Bull run to happen. I don't know what's gonna happen, but I got a plan in place So there was a question yesterday Which was hi Dan I remember you creating an excel sheet for alt coins for the 2021 bill cycle Is this the bear market and right time for buying? Can you please prepare similar excel sheets with coins that you're buying for the next bull rally and their expected target selling prices? Can you please make a video doing it right now my man my super portfolio? And let me just preface it with this. Oh first of all, I probably should have shown you The image sorry I have to preface it with this what I'm going to talk to you about right now is planning for two three four years in the future That is what separates The tourists from the veterans To make the play right now When things are just a little crazy and you can have some sanity in the world and go okay Things are falling apart. Let's make a plan for the next one. That's it. So I gotta do so Just so you know What super portfolio was talking about was in the there's a link in the description of all my videos It says strategies And it's you can see five percent degen plays all the crypto exits which are old you can click on that And then of course the 2024 25 exit strategy, which I think is going to happen and it'll link you to This section in my website which has Real essentially this this video, which is okay Nothing to write home about and this video, which I think is pretty good So real quick what they were talking about is my old strategy was this and I have to tell you I have to be honest Uh It actually worked some ways if I would have stuck to it worked a lot better But I got greedy and I think we know that I didn't sell as much as I should have And that's on me. So I'm gonna I'm gonna fix that this time So I just thought that if they're gonna go to 10,000 it wouldn't but since I dollar cost average in I dollar cost Average out and on different different levels different Price points I would sell and I did Chain link I thought that chain link would go to 35 dollars And in actuality it went to 50 bucks. So this one played out pretty well. Unfortunately I didn't sell everything I did these price points because it was just a prediction. I didn't really know And it worked out pretty well Uh A crappy plan is better than no plan at all quite honestly bitcoin thought go to 150,000 that didn't happen But I but I got to sell some uh eos Verdi I sold that thank god I mean not all of it unfortunately. I'm still holding on cardano Uh, I thought I would go to three bucks and it did well I went to 297 So that was probably my best play and theta Uh, I was wrong about when I thought we go to 10 and went to 14 but Don't don't make it out like oh, he's he's a uh He's a genius. No, I just got lucky. So on this one's that is Uh, those plans the plan now Is to use some data driven focus And it's very simple. I use a bunch of a couple different indicators picycle top any pl time and risk Which is the one at ben's website And cycle bottoms I'm almost using m mbrv to your ma pull multiple reserve risk and also the hash ripens And there's a point in everything where it becomes overheated Actually, let me let's see if I have an overheated one No, yeah, like the new pl When things start to get overheated in this in this orangey range or reddish range. That's when I start to ladder out I will not be caught short again. I refuse to And this is the time to make those plans to when it does happen two three I don't know five years from now Maybe a year and a half. I have no idea that you're ready to strike It's not so much about focusing on the things that you can't change It's focusing on the things that you can change and making a plan to move forward And that's what I'm trying to do my friends. And uh, that's it. So I'm gonna just think about that in the comments. You can watch those videos Just determine if it's something that you would implement into your strategy because you can't just copy me And that's it and then also to finish this up This is me trying to shore up my shortcomings shore up my not only it's how I said it but So I did a video yesterday I talked about dollar cost average and I said time to stop dca and question mark and the title Because during the live q&a people were like, why is there such a cute a clickbait title? And I thought well, I don't think it is But maybe i'm wrong So I put a poll and I asked people in the q&a, you know, most people said no, it's not But I got to remember that I mean you guys have been here for a long time So maybe you see it differently. Maybe we're all jaded. Maybe we're in a A bubble an echo bubble. So I was like, well, maybe I'll just ask everybody And I said was yesterday's video title and the video title was no more crypto dca dollar cost average question mark Is that a clickbait title? did the content of the title match after watching it? And 50% said it was clickbait. So I'm like, I must not make it clear enough And then you have to understand I have to I can't just lean on and you know, some people go no, rob It's good. You're good. Baby. You're good. No, no, no, it's not how it works So if I leave somebody behind I'll leave everybody behind and then of course some people said nope It was it was match and then what's clickbait? That's what 360 votes and then I also did the same thing On youtube you can you can do votes as well almost 500 votes and a lot of people said it's clickbait and interesting enough people said I didn't I didn't watch it, but I know it's clickbait and that's the thing I think it really comes on to defining what clickbait is Which is is that just a snappy title that people want to click on or is it like The information totally doesn't match What you're talking about in in the video so I said well, maybe it's not clear enough So I went and I changed it and I kept the the thumbnail. I don't think that was an issue And I titled it thoughts on stopping dca Dollar cost average of crypto and I can't make it That's not clickbait. That's as clear as I could possibly get it But you can never please everybody if you try to please everybody That's you're gonna be in a world of hurt However, when numerous people come forward and say something I'm like maybe I should pay attention and that's it So look that's it for today, and I sorry I couldn't give you the best news But it's the reality The reality is okay because now we know how to deal with things moving forward We change the things we can change and move forward and don't worry about things we can't but that's it So look if like today's video give it a thumbs up consider subscribing We talk about these things every single day and then you get to ask me questions and we have a great time I mean not every day, but that's it so Thanks so much for stopping by appreciate you gotta take off take off now Let's get to my favorite part the q&a of the day But uh, get out of here if you gotta get out of here. Let me stop this banner Oh, hey, I smoked all my crypto