 Great Welcome to the last set news to get top stories in crypto and bring on a bite-sized piece is Today just as the thumbnail and title suggests Facebook or now it's called meta has teamed up with Coinbase and block. I mean, so exactly what they're doing and How I think it's just I mean just some one of those days where you said nothing but good news But does it really reflect the market? So first we'll talk about its market and on-chain data Then we'll get into that meta and Coinbase block team up Also, we're gonna take a look at how FTX raises a ton more money and how the CEO Sam Bakeman Freed has donated to Presidente Joe Biden I think it's interesting that he's done that and given to a bunch of senators and what that could mean and then lastly We're gonna take a look at how the SEC just approved today the first blockchain powered Security token exchange and it's kind of goes against what they were doing recently But we'll see what all goes and lastly we'll just take a look at do a little Q&A at the very end So before we get into all that let's take a look at a little on-chain data Just to see exactly what we have going on. So today or excuse me just a little bit of the The market itself. So today it is a January 31st for 30 p.m. It's been a busy day so far I've already done interviews with meld CEO Ken Oling and also did another interview with CEO Voyager Steve Erlich and those interviews will be out either tonight or tomorrow depends on what's going on right now It's 4 30 p.m. Puerto Rico time so I'll see what I can get into that but the steep both of those interviews Steve from from Voyager and Ken from meld just great stuff about what's happening and a lot of I Think hopefully answered some unanswered questions. So this is what we have today for the market. It's pretty good day I mean, I'll be honest with you. We've been seeing a slide kind of going teeter touting back and forth But I mean looking pretty good Bitcoin 2% up Ethereum's up for I mean and then what I always like to look at is a seven-day You know average or just a seven-day of seeing how they've gone. Everything's up pretty well except for Luna Tara Just had a huge massive slide. Remember had a big run-up So the faster things have had these massive run-ups the faster do that the more they drop down and you can see with Tara I mean it was all the way up to I think I want to say like right below a hundred bucks and now here They are at around 50. So just remember that Nothing will go up forever, but today's take the win. I mean look there's a lot of good Projects that are in the green and that can make you feel a little more comfortable especially with all the uncertainty that is going on man. Look at that Ftx token up seven and a half percent. I'll tell you why in a second seven point seven Sixteen percent for Decentral and probably because of this thing we're going to talk about Sandbox again metaverse plays when you when you see things that are going on With what was called Facebook and meta and they make news then usually the metaverse plays start to go up Well, I can't say it because let me look at well actually if any is played or does it count six point nine And so on and so forth now Let's take a look real quick It's a mon chain analysis because I like to see where things are going and to end to help us with that There's a couple different factors I use and this is from crypto quads There's a link in the description if you want to check them out and I use these every day Just see where things are going and if we want to take a look here The thing that I'm always looking at is are the miners selling because if they sell they sell off massively Sometimes the price will go down unless they're moving away from from rush from China But like right here you can see it kind of like right here and then drops way down Then right here hasn't really sold too much and then drops drops ups, but they're still not selling so that's pretty good news I think for me Also exchange reserves as far as like our people putting Bitcoin back on to the exchange so they can sell a bunch Well, no, it's actually extremely flat if you look at that way Ethereum and you can just see with a theorem It just keeps going down and this this purple line down and down and down I think people are snatching up the theorem because Because I have to pay for all those ridiculous gas fees But if you want to buy nfts and things like that you're gonna need a theorem So, uh, that's a utility in play take or buy volume People are just buying it up as it as it kind of comes down here and once it hit this one 36 35 got snatched up as more people come on in but this is the one that always concerns me And it's how I I gauge things To look at it. I just don't think the bottom is truly in I could be wrong But this is the estimated leverage ratio and what this is this is the exchange's open interest Divided by their coin reserve which shows how much leverage anything above point two is extremely high And once you get to that point usually you see like a big Well, usually people get wrecked and that's what's happening here Once it goes down usually prices goes up and I gotta tell you Right around here 25th november when ever, you know, it was all-time high people are super leveraged at 0.206 And of course a drop down people got wrecked. I think it was one of the biggest liquidations And now we're still up here. We're still up here. People are still playing around with leverage And I'm not here to tell you what to do anyway shape or form But I just gotta tell you one someone's gonna lose out It's either the people who are going along or people are going short Or you can make a lot of money either way. That's not investment Advice to that's actually that's the truth. That's uh People will make money either way or we'll make money in one way Either the shorts are going to be right or the longs are going to be right But one of you is getting liquidated and it's going to be a lot of you. So Good luck to whoever so that's what we got for The lawn chain data is take a look at things not so bad. Just those leverage plays really concerning now let's take a look at The big story and this was when I came across this. I was like that's pretty interesting I didn't expect this to actually happen. But hey, here we are. So meta joins crypto open patience alliance Along sign coinbase and blocks. Why is such a big deal? I'll tell you why it's a big deal because finally Well, you made the judge. Here's what we got. So the social media platform meta Join the board of the crypto open patent alliance all the patents that are out there for blockchain technology They all get together and say hey actually before I do this. Let me just tell you what they are Copa's goals the patent alliance goals Over time are to double down and on minimizing intellectual property risk and crypto And create more patent protection for our members. So what this is doing is Metta or facebook who had a lot of money and a lot of time they put out a lot of different resources into Patenting their technology that they want to do with crypto with dm and whatever else and by the way dm is completely Off the range already. They've already sold dm off 200 million dollars worth to a california bank. So that's a unknown void project so These patents that they get together. They go look we put a lot of money into this But let's just make it open source. Let's make it sure that everybody can use it And that's good for the long run. So What this says Working on the pool Okay, copa working to assemble a pool of crypto patents that all members can use in effort to encourage innovation And this is a quote from maxills. He's a general manager at copa He says meta joining copa means crypto is not a niche. I think we all knew that It's a technology that was dependent Dependent on by every industry through copa meta pledged to not enforced It's core crypto patents and they had a ton of them Against any individual or company except for defensive reasons. You can read that any way you want to I'm just happy a little bit that they're actually here This effectively makes his patents freely available for all to use some of those patents Include metas technology that enabled the creation mining storage transmission settlement integrity or security of crypto The nonprofit was founded by block Which was formerly square and now they're getting more into blockchain technology and consists of over 30 members Including this little company called micro strategy crack and uniswap chain code labs and ok coin And lastly, here's how it works members pool their crypto patents together to form what the organization called a Shared patent library any members then free to use the technology behind a patent and that's the big story So I think it's just interesting that You've got meta coming out and say, you know what? We want to join this organization. We want to freely give our patents. So we want to actually be a part Of this new prospect of what's happening, especially with the metaverse and blockchain technology crypto and digital asset So this is a step in the right direction and then as we go into our last story Which is the security token approved by the sec you can see our regulation is really coming in full force So let me just think about that in the comment section. Let's move on to our next piece ftx raised It's now a value of 32 billion after their third fund raiser. So ftx at sam baked and freed And uh, he's a 28 or 29 year old multi-billionaire. Good for that guy Okay, uh, it's pretty amazing. Honestly But uh, this is what the story is all talks about the crypto derivative exchanges has raised a fresh 400 million with the series c round Raising the company's valuation to 32 billion marking ftx's third raise in the last six months ftx's user base has grown 60 percent since the october raise its average daily trading volume Increased by 40 percent reaching roughly 14 billion in daily volume. Why is this so? Why is this so important? Actually, I should probably show you the article i'm reading. Sorry so this right here 32 billion it's important because the more money that you have obviously the more resources you can pool And the more developers that you can get the more marketing that you can have And the more share of the market that you you can actually gobble up and that's pretty important ftx to me I mean, I've heard about sam baked and freed and know that it's a it's a multi-billion dollar company It sounds very good, but it really didn't stick into me about The volume until I was talking to steve or like today at the ceo voyager We're doing an interview and he was talking to me about volume And he was saying that uh, you know volume has actually decreased As the market has decreased because people don't want to buy And I say well, it's kind of weird because it's one of the millionaires are made and he said yeah, I agree But he did give me a little insight into this website called nomics Nomics nomics say it how you want to say it And it'll tell you all the volume By each exchange that's going on and you can see everything's ranked, you know one through whatever else I don't really care about that because you got a number of trades That's just trades and then then the percentage what I want to take a look at his volume and if I sort this By the most the least Binance is far and away number one. Well, it's pretty far Then okay x 19.2, but look at ftx 11 billion in volume Number of trades 6.7 million Percentage trade is 9. So it's pretty heavy. I mean if you really look at that and then you got huobi buy the crypto Look at coinbase Coinbase is three point two billion as far as the volume So ftx is coming up fast So why is that important? Why I mean that's that's that's great. That's great data rob, but who really cares There's two things first of all sam bachman freed is heavy into solana really loves it so if you believe about Companies and the marketing like that might be something to look out for and then also One thing that struck me is interesting Is that this is an article on october 21st and it talks about sam and How much he actually donated to biden And this was just a little quick snippet And again, this is in october 2021. He said last year at age 28 crypto billionaire spf Made ways by shelling out five million dollars to a super PAC supporting joe biden making him one of the biggest backers Of america's future president. Let me say that one more time Five million bucks super PAC president joe biden biggest backers of the america's future president How what kind of sway do you have? I mean it's five million like it's like five billion But it's a lot of money. How much sway do you think this guy might have? In those circles just asking could be a little bit, but now it's what's more interesting is that he's Playing in other sides Which of course in the united states that's president joe biden now And he is a democrat, but look what else he's done since july bakeman frida's made 50 hundred contributions 50 hundred dollars worth of contributions The maximum individuals directly congressional campaigns to the committees of bill cassidy republican Susan collins republican at least some ricausi republican ben sass republican mitten romney republican and richard bur So if you're looking at who might have a little bit of sway in the politics of where things go and maybe a little bit of regulation There's your guy right there now. I could be wrong Let me know what you think in the comment section, but that's what we got And I think it's just interesting that the they've raised that much money in that pretty well But it is what it is. So also There is this exchange and wallet fee. It is A accessible spreadsheet. There is a link in the description. It looks just like this And if you click on there, I added on ftx. I've used ftx us For a little while it's not doesn't have a ton of different cryptos, but if you're a Uh international user you can use a ton of them and there's an affiliate link You don't have to use the affiliate link, but if you do you get like, uh, I think it's like for this one It's like 5% discount and I've also got voyage or Celsius crack and Unisop everything and and then these are the ones that I recommend and don't recommend like there's just some I just don't don't use so I can't recommend them. So uh, check those out in the Description Which I have right there and let's move on to our last piece Which I thought was this was a little crazy The sec approves the first national blockchain powered security token exchange think about that for a second the sec who is writing all of the Different crypto projects like a horse ragged is like, yeah, let's uh, we can we can approve this Let's break this down because when I when I saw this I'm like, how does this Work for what? We're trying to do and I think it's it's going to have repercussions on the line. So here's what we got There was a joint venture between the Boston exchange Boston opposite exchange or box And crypto tokenization firm t0. They've been granted regulatory approval To operate a borse, which is an exchange for securities A place that you can buy and sell securities and other different financial instruments Utilizing blockchain tech for its settlements And market data the sec gave the nod to the boston security token exchange bstx for its market data blockchain product The mark shorts is approval from the regular stretches back more than two years following boxes amended following jerry 2020 to use an omnibus entry based on the ethereum blockchain So look, I know some people have recently been calling ethereum a scam Like they have for a while, but I think ethereum has its use cases So let's break this down even further because when I read this I'm like, what the heck? I still don't get it So i'm like, what is this? What does this place do? So if you go to bstx.com I actually included this link in the description. You can check it out yourself. It's just bstx.com And look at the faq. Let me blow this up so you can see it The thing i'm asking myself is why do they need to do this? Hold on real quick. Sorry I got a lot of somebody. Okay. Why does the industry need a new exchange? This is what they say Uh, the current system is far too difficult to navigate and often too expensive Which does not lend itself to smaller companies seeking investors bstx is creating a path for companies To publicly list their shares that is less convoluted and with less friction. So i'm like, okay I still don't get it. Why do we need this? So if you go down here How will bstx utilize blockchain tech bstx proposes that certain order? And execution information related to trading activity On bstx would be recorded by a private permission based blockchain On based on a theorem are built on a theorem permission based Accessible through an app program interface available from the internet Which is the market data blockchain the bstx market data blockchain captures Trading activity that occurs on bstx in the normal course of business and is made available to the participants and non-participants In addition resources that is that may choose to use at their discretion. So I'm reading this. I'm thinking to myself, you know If you really look at it like that Maybe this is something like a stepping stone because the sec just Shot down another etf because they're like, well, there's not enough transparency and we're trying to protect the consumer I was looking at this. I'm like, you know, maybe if they start with this And they can just see how transparent the blockchain is especially permission based they can go Oh, well, you know because there's so much data that's available to us Maybe they might change their mind now This is just my opinion of what potentially could happen. But I believe this is a step in the right direction So if we look at everything that today You know facebook or meta joining up the open patent alliance, uh for other with other different, uh Blockchain companies or crypto companies. That's good. Then he got You know, sam bachman freed and his ftx get a huge valuation And he is the guy that's been giving a ton to uh already gave to uh, joe biden and of course we just have this national blockchain powered security token exchange. We're just approved. I mean look It's looking pretty good. But again, this is just I think just This tip of the iceberg and and uh, hopefully we can start to move things in the right direction There was a little bit of a turnaround today But again, there's a lot of factors to take a look at macroeconomics if we take a look at, you know, what What the feds going to do by march? How the economy is going to going to recover or not recover and gdp and and uh Inflation is it really transitory? It's not And so we'll see how it goes. Anyhow, that's what we have for today Let me know what you think about that in the comment section. Let's do a quick q&a and see where we're at All right, I don't know about this one. Well, thanks. I have It's not a ton. I just The things that I see it could it just makes sense to me It could go a lot of different ways though. You have to understand just because you know like that's that middle story with ftx just because they donate to The president knows the biggest doesn't mean anything as time goes on and it really Business is a funny thing First question when and where is the next pr meetup? We just have one wednesday at San Juan smokehouse. It was great a lot of great people. I met fantastic I will have one another Not this wednesday, but wednesday after that Okay Christian, thank you Good video if I were to do an investment into iTrust Roth today One is that really second pull my investment out without being taxed. There's a couple different ways to go about this First of all, I'm not a financial advisor. So so seek that one out as I understand it. First of all, us resident Two different ones if it's not when you're 59 and a half years old or If you claim early retirement now, how does that all work? The my best advice is to sit down with the gents over there at iTrust That's exactly what I did because I had a ton of questions and I didn't understand anything about Roth IRAs or traditional or seps So book a time with them 30 minutes, and then they'll answer all your questions and you can get with that That's how it goes. I will say this Even me in Puerto Rico like I don't have there are no capital gains tax, but there's rumblings of ax 60 being axed out So I still contribute to this Roth IRA because you never know and uh, I think it's I think it's uh worth it because you don't want to pay taxes. Let's say bitcoin goes to 200,000 right? Do you want to pay the taxes on that or just stick it on the Roth IRA? Uh, when we come in it'll be for holidays. I might be in London soon enough not for sure How about you lean on the show from here? Sure. She wants to come on I got a great So we just got the new desk and we got two tables and more lighting in here Which isn't that great But the whole idea is to have a setup for in in studio interviews, which We'll do here So if you got anybody you want to who's around here like to be in Puerto Rico and and interview right here I'd love to have Oh great question How about a good tax app crypto trader dot tax link in the description to 20% off That's the one I've used for two years straight. I still got to use it because Well, I just moved here in April. So I still got to have capital gains tax. Just how it is So the time that I there's link in the description for crypto trader. There's a A walk-through video I did Of course the link, but the time that I Got it set it up and sent to my cpa. It took me 30 minutes Getting michael cellar. No michael cellar is great for bitcoin But he is not good for the way that we do things on the show. He's So Loquacious, he's so talkative and and they're great answers But they're long That's right. So then it says one steve steve erlich did the interview three hours ago I'll edit it and have it up Maybe tonight. Maybe tomorrow, but we went over a lot, especially about the burn loyalty program We did it what I did with steve was he already answered a ton of these questions and I just pulled the information from uh, dj crypto by the dip sell the tip And I just said we've already answered these. Let's dig into this part. So that's what I did Justin thank you question Would you rather invest more money into algorand right now on a discount or sunday swap? That's a good one. So algorand I would probably put money in algorand algorand That team I always butcher this guy's name the gentleman who Uh One that the uh touring award for mathematics mccarrie or my car. I forgot But uh, that guy's a genius and he was he's been in the uh, crypto cryptography space since the early 80s and he's one of the ones that uh, like I said Like anthony scaramucci was on the show and he said his his hedge fund invested 250 million dollars into algorand He thinks it's the next google and uh, I said, well, how'd you do that? You know, just do a quick dip deep dive He's like, no, we spent six months with the team. I was like, wow So algorand pretty big And from what I've seen looks pretty great Very stable, but hey Don't just take my word for it. Do your own research silva mccally my cali mccally Uh, metrobily boli says, are you desing in the verger? I am not desing in the voyager I dc dc8 a ton throughout the whole year and uh, I've already hit that top tier Whatever it's called the voyager level I guess and uh right now. I'm buying, uh, bitcoin I'm buying ethereum. I have to uh, I'm buying Cardano I get a solana algorand avalanche something else and I forgot But uh, yeah, that's what i'm doing because I I think right now like I I stopped desing for a while because I was worried about the market but I just feel like now it's It might crash and go way down But it's gonna come back at some point. So this is a pretty good day to to uh get a lot of Discounted stuff over time. It'll work out Good question and we'll take two more. Have you looked in the sell csx and chain link partnership? Would you know any info? What all that is about such as how wrap chains have worked if you wrap eth you pay tax on the exchange every first of all you Anytime you wrap anything you don't pay any any taxes on that It's when you sell that product And if it has gone up then you pay tax on if it has gone down You take a loss and you can claim that on your taxes to reduce your real tax What you owe so Celsius X you're talking about the their defi project, I believe I don't even think it's been released. I could be long checking the comments section But I think the one of the biggest thing they just released was swaps Which even I don't have access to that Other people do they hear I hear it's great. They can do swaps for like no fee pretty awesome And then this x1 is the defi thing. So we'll see how it goes, but I don't know much about it No luna no luna I have luna. I just don't didn't add any more Although I should because it's down so much but So baner this will be the last question. I got to get out of here So baner has a good question our big institutions good or bad for the space Institutions that of course hold for a long time like a micro strategy Um, those are great for the space We want institutions to come in and hold and and treat crypto like we treat crypto, which is like, uh You know a risk-off asset and maybe like as as a hedge and we'll go up Now you don't have to treat it like that to saying that's how I see it Not all crypto obviously not but bitcoin in particular But there's a there's a dichotomy between The institutions and say the hedge funds the hedge funds will always be here to make a ton of money You have to understand that that is their main purpose and to keep their customers happy So just know like hedge funds. They're not They're not here to like be here for a long they're here mostly just to buy Make a ton of profits sell Everybody's happy. Hey, we'd be at the s&p We're one of the only four that have done that and then off they go But the institutions like like we said like micro strategy other ones that are out there Um, we'd like to see more of that, but who knows they come around and that's it for today So look Again, I'll release that video with steve and ken from meld Later tonight or maybe tomorrow, but that's all we all you have for today. So thanks so much for watching I appreciate it. If you like today's video, give it a thumbs up consider subscribing Everything's time sensitive all that great stuff and I'll see you on the next one. Bye