 Welcome to GLS at news or Dan for short. My name is Rob and today we've got a lot of things to go over. So just the thumbnail and title suggests it looks like contagion is moving along quite rapidly. And the thing that doesn't concern me isn't the amount that's happening that we know about. It's the contagion that we don't know about. So we're going to take a look at exactly what's going on. Also I'm going to talk to you about we're going to do a ledger stonebook giveaway and talk about how to how to view centralized exchanges. And I want us to want to go over something that I thought was very interesting as far as what Kevin O'Leary said, Mr. Wonderful. And we'll talk about the contagion issues and things like that. And then I want to show you pretty much where all the action is happening right now for the crypto and digital assets space and the very end we'll do a little Q&A. So first things first, the giveaway. I wanted to put this together because let's be honest, this market sucks. And it's tough for a lot of people to do much of anything when they've lost everything. And if you have anything that's on the exchanges moving forward, I don't want you to have the same issue. So what we did is there's a tweet that just came out. And we take a look here. Here's the ledger and shield folio giveaway tweet itself. And very simply, here's all you got to do. Watch today's video. What you're doing right now. Congratulations. Like this video if you would be so kind. And then go to this. There's a link in the description for the tweet itself and then like, comment and share this tweet. I'll choose the winner live in tomorrow's video. I don't usually do a lot of giveaways, but I thought it was appropriate right now. And then your question might be as well, Rob, I know what a ledger is. What's a what's a stone book or a shield folio? And this is what it is. So shield folio, it's a it's a waterproof book tear resistant. It's not fire resistant, but it's it helps to put everything in just one simple place. I don't want you to be like me where I put my mnemonic phrase of my old cardano wallet on a piece of paper somewhere and it's gone at 20,000 cardano just gone. Who knows what that could be worth in the future. But that is all out of here. So we'll be doing the giveaway. I get one of these and the ledger. If you win very simple, also, we're going to be doing more of the shield folio giveaways throughout this whole week. So just tune up. You might be a big winner. Also if you're looking to find out like where do I figure out how to use this thing? Because I don't really understand. Again, Dante just crypto. It's my website. It's 100% free. I made it free. It'll always will be free. Just sign up. I'm just going to ask you for your email. I don't even spam you. I just tell you when I upload a new video, go to module to safety, scroll down. I talk about what's a crypto wallets, what's a seed phrase, what's how to set up your nano ledger, ledger live app and all this good stuff. So you can do that. And also I just learned something new about ledger, which I'd like to share with you right now. I think an ounce of prevention is worth a pound of cure. So what I'm talking about is there's this thing on ledger. I don't know if you guys know this thing. It's called the recovery check. And this is a way that you can check to make sure that your mnemonic phrase in ledger is actually correct and you can get your funds back. And very simply, I'll link the video in the description, but it's super simple. I'm just going to let me stop my screen real quick. Let me share. This is my ledger life that you can see right here. And all you got to do is you just connect your ledger to your computer, pop up the ledger live app, go down to my ledger and just search for recovery check. And you take this, you install, and you're able to put in your mnemonic phrase. Don't worry. This is through ledger. I mean, hopefully you got it through the right place and you use the links in the description and not went to some crazy website that offers a 50% discount or something crazy so they can steal all your funds. If you have an official ledger, it's okay. Ledger live app. This is the official one. Again, links in the description. And you can put in your mnemonic phrase just to make sure that it's correct and it'll tell you if it is or not so you can rest peacefully at night. So that's something I learned today. I just want to share with everybody that they can double check and make sure how it all works. So on top of that, the recovery check, which I thought was pretty good, is there's something I just had a question or a comment about. I thought it was pretty good to let everybody know. This is Darth Boomer, interesting person. And he says it like this, and it's very true, treat a centralized exchange like a filthy public toilet. Get in, do your business and get out quickly, touching as little as possible. And I gotta tell you, for everything that's been happening, I totally agree with Darth Boomer. So Darth Boomer, shout out to you, excellent posts. I will be using this gratuitously moving forward. Also, I just wanted to bring this everybody's attention about the craziness that is going on right here. That's Aaron Bennett, friend of the show. He does a lot of great things with Celsius and giving everybody an update does a fantastic job. This is Ran Neuner, I think, from Crypto Bantry. Yeah, and it's a YouTube channel you can check it out if you want to. But he had Mr. Wonderful on, and he asked him a very simple question. This is 45 seconds. And there's been a lot of back and forth about what was said. So this is what was said, and Ran's gonna ask him, would you take back SBF and hire him? So just take a listen to this. Knocked on your door again and said, look, I failed in my last venture, I have a new crypto venture, I need money. Would you back him? That's a great question, no one's asked me yet. I think we can all admit, you can love him or hate him, given what's happened. But he was one of the most brilliant traders in the crypto universe. He also built one of the most robust platforms. We used FTX actively, it was a very robust platform that allowed us to get information on a compliant basis. So I really like what he built. Would you back him? The answer would be, yeah. Okay, so before everybody freaks out, like, oh, but he said something afterwards. I know he said something afterwards. He did. He said, I would hire him back. I would let him go, but I would put guard rails up to make sure he doesn't do anything, nothing but shenanigans or whatever else. But I'm just thinking to myself, I'm like, does greed, no, no bounds? I mean, honestly, you're going to let something like that, SPF come in, and even Mr. Arnold was grinning throughout the whole question, which to me is amazing. So I'm like, whatever. I just thought it was fascinating that someone would let him back in. But let me know your thoughts on this one. Maybe I'm seeing it wrong here, but I would not let SPF anywhere around any kind of company that has to do with crypto and digital assets. And that's just me. Maybe I'm crazy. Now, that's what's going on. Let's move into contagion rearing its ugly head. I know there's been some rumors about maybe SPF and FTX were a part of a grand conspiracy to bring down crypto. And there's a reason why he hasn't faced any charges yet. Well, the news is closing. And I'm not going to dismiss any type of thought process about what could potentially be happening. However, there was a report today. The U.S. is reportedly considering Bankman Fried extradition for questioning. I got to tell you, the wheels of justice sure do move slow. And it looks like the wheel of justice are the people that's behind the scenes are really dragging their feet. Here's what's happening. U.S. and Bahamian authorities are reportedly discussing the possibility of extraditing Sam Bacon-Feeder SPF. Just thinking about it, OK? Since the incident, the former FTX CEO co-founder Gary Wang and the director of engineering, Nishit Singh, are known to be at the Bahamas, where they are under supervision. Initially, rumors had surfaced of Bankman potentially looking to flee to Dubai, which is what I had heard. I had heard that he was actually on a plane, but that's been debunked so far. However, due to an agreement between the U.S. and the United Arab Emirates, U.S.-based fugitives attempting to relocate to Dubai have a high chance of being detained in return. I did not know that. So apparently, when people say, oh, this will go to Dubai, well, apparently, there's some type of communication between Dubai and the U.S. for where they detained people and send them back. So it's something to be said that maybe the news is tightening and things are going to actually happen. But that's not what we're here for. We're here because what's going to happen in the market, Rob? Great question. Well, there is this great chart. And I can tell you that, remember when Luna collapsed? And then, of course, we figured out it was some of the hindstings as far as 3AC, 3ROS capital. And then, of course, then Celsius collapsed and Voyager collapsed, and we're like, well, dodge the bullet. That's it, huh? And now, of course, we're hearing some things about SBF and FTX. It's all unrelated. And I don't think we're going to know the extent of it, obviously. This has been shown many a time. And I will just tell you that there's a lot of companies, individuals, and projects on here that make me quite nervous. Does that mean they're all going to fold? No. But it's something to be said. And here's the first casualty. Not that it's a big thing. It's really not on this one. But it makes you think. And I need to bring it to your attention so you're aware. So Circle, which, of course, founders and creators of USDC, reveals FTX exposure, says the conversion of Binance have hurt projections. That's not so bad when it says we've hurt projections as far as our profits for the quarter. It's another thing when they say, hey, this is toy destroyer of business. And this is not what's happening. Circle disclosed that the tiny FTX equity that Circle CEO Jeremy Allaire alluded to on Twitter last week and looks like they lost or 10.6 million investments the company made in the FTX group. And that's probably gone according to regulatory findings. So because of that, their earnings may not be as popping as they may have said. And then it goes over some other information, but it's really not too much. So 10.6 million maybe in the future we figure out, oh, no, no, wait, it was 10 billion. Sorry. We miscalculated. It's enough for me to say, I'm out of stables. I'm not, I don't have any desire to stay in them. And they're here for me. They work for me. And if I don't want them to work for me, that's it. So here is my diversification portfolio updated today because things have shifted. And of course, I'm heavy cash now, heavy cash, not as much into the stables. I've got some on my DGen plays, which we've talked about extensively on this channel because I am biased. Also, I've got 5% roughly more or less in masterworks, 5% of land, but we sold sold a big couple of lots a month ago. But most of my diversification is in, of course, real estates, short term and long term rentals, the Amazon business outside of my crypto also for staking. I do have some equities, which is really not five. It's really like two to four, two to five percent just depends on the fluctuations and of course, crypto IRA with I trust. And that's my diversification concentration leads to wealth and diversification helps to maintain that wealth. So I will lead that up to your own devices of what you'd do with that. Moving forward, here's the problem. Here's the more contagion. People under salt halts withdrawals after FTX collapse. You may have remembered that I talk about salt every so often and as far as like dollar cost averaging into products that will never come back. And I always say a dash of salt and that's the same one salt. You can see right here is worth a whopping 3 cents as far as their crypto, but mostly it's for loans and it came out pretty hot and heavy in the 2017 era, 13 bucks. That's pretty good. And of course, just flat line and hasn't done squat ever since. So I just say that pick your projects wisely because a lot of them are going to fail and that's okay. That's just how it is. But I would say a dash of salt and of course dash is that's doing okay, but come on dash. Who knows. So crypto and assault halts withdrawals. And this is going to warm our way into a friend of the show, Simon Dixon bank the future. So the collapse of FTX has impacted our business. This is the salt CEO, Sean Owen said a message sent to consumers until we are able to determine the extent of this impact with specific details that we feel competent are factually accurate. We have paused the positive withdrawals on the salt platform effective immediately. So remember, we're talking about contagion and in the effects of these companies, you understand if they're doing investments and they're loaning things out, well, I don't know how far it could actually go. But there's steps beyond steps beyond steps because it just starts to grow and grow and grow. This is also Tiffany Fong follow her as well does a great job of aggravating the machine skis, I will say. So that is what's happening. And then also for this one, because the salt lending platform was due to be absorbed or be bought out by Simon Dixon and bank the future, because of what happened with FTX and their issue, they're going to forego that acquisition online investing platform bank the future drops the plan to acquire crypto owner salt due to FTX exposure. So again, we're talking about contagion, it's not just like, well, this kind of affected us. Well, now FTX, which was having, I believe, financial problems already, now they're not going to get bailed out by bank of the future as they absorb, this is just here say I don't know the specific details. But again, you see what I'm where I'm going with this. One domino falls and a second domino falls and other domino falls. And that's that. So I know that there's been some some talk about especially Celsius protagonists were like, well, you know, Simon just did that so he could do his own thing. Well, he's not going forward with that. So that's that piece. And also, let's let us not forget of a new piece, Genesis, crypto lending unit is halting customer withdrawals and wake of FTX collapse. So here we go, folks, Genesis, global capital serves an institutional client base and $2.8 billion in active loans. That's a lot as the end of the third quarter of 2022. Genesis lending are a crypto investment bank. Genesis global trading is temporarily suspending redemptions. Genesis trading is different. It acts as Genesis global capital's broker dealer is independently capitalized and operated separately from that lending unit. Well, let's see how long that statement lasts and we'll go from there. Genesis on our digital currency group is also the parent company of Coindesk. Uh-oh. So last week, Genesis to close at its derivatives unit had about $125 million of locked funds in the FTX trading account. That's gone. The digital currency group opted to strengthen Genesis balance a sheet with an equity infusion of $140 million. Hopefully it works out. Announcement was noted by Gemini. Ah, one more to go down. Wait, just wait. The crypto exchange and custodian that has a partnership with Genesis. And what are they using for? That earn program. Gemini, the crypto centralized exchange by the Winklevye twins. State of this, we are working with the Genesis team to help customers redeem their funds from the earn program as quickly as possible. Now, I have to make a distinction here. This is just the earn program. Hopefully they're talking about the rewards for the earn program and not the entire crypto that has been placed when people sign up for Gemini and say, I'd like to go in that program. I'm not 100% for sure. We are disappointed that the earn program will not be met. We're encouraged by Genesis and its parent company digital currency groups commitment to doing everything in their power to fulfill their obligations to customers under the earn program. That sounds nice. Also, stablecoin issuer, Tether also confirmed in the blog post Wednesday that it had no exposure to either Genesis or Gemini earn. Tether is operating business as usual, the company wrote. Now, I will say one thing about Tether. I'm not a big fan of Tether, never have been. However, everybody who's thrown things against the wall against Tether, still here. There's something to be said about that. And also, a lot of things been said about crypto.com. Yet, it's still here so far. So I got to tell you the companies, the projects, the exchanges actually make out of this one will be that much stronger moving forward. And they will probably rule the roost as far as the crypto and digital asset space. But let me let you think about that in the comment section. And lastly, I just want to talk to you guys about where the action is happening here in YouTube world. I can bring you some pretty good information pretty relatively quickly. But if you have the time and I'm talking about like hours, sometimes even like five, six, seven hours, there's this thing called Twitter. I don't know if you've heard of it. And Elon Musk, of course, bought it out. But before Elon Musk, there was this thing called Twitter Spaces. In Twitter Spaces, I dismissed it as not a big deal. But right now, everybody in the crypto space is using Twitter Spaces as a place to just disseminate information, get people's opinions, and at times, spread a little rumors in here and there. And I got to tell you, if you don't want to be addicted, don't start this. But there's a, you know, you can just go to your Twitter account, find actually the best person to probably follow is Mario Naufel. I met this guy one time, actually, seemed like a nice guy. And he's been putting on some fantastic Twitter Spaces. And we've had everybody from, I mean, you've had Ken O'Leary and Simon Dixon. You've had, gosh, everybody you can think of in this. Let's see who's here, actually, right now. It's less than life. Alex Fausel from, from Swissborg. Hussain, crypto immersion, and there's, and then Richard Hart was on today and just pretty much blasting everybody. You had Brian Armstrong in there not too long ago. You had a gentleman from MicroStrategy. I mean, just like everybody who's everybody has been in these spaces. So if you're looking for like the update about what's happening, there's a link in the description. You can follow Mario. He does these, these Twitter Spaces. And that's the ones that actually watch to get all the best information about what's going on right now. And that's it. So look, that takes care of the news today. If you liked today's video and you want to win a Shield Folio or a Stonebook and a Ledger, give the video a like. Also consider subscribing. Good luck with YouTube, you know, actually letting you know. Sometimes it does, sometimes it doesn't. And that's it for today. So look, if you want to stick around, we'll do a little Q&A. I'll answer all your questions, the best of my abilities from the thing that I've learned along the way and what's going on. But that is it. So thanks so much for stopping by. I appreciate you. I'll see you on the next one. Now let's get into a little