 Great. Welcome everybody to Digital Asset News. My name is Rob and today we've got a couple of things to go over, which I found quite fascinating. The first thing we're going to talk about is how Celsius is looking to be bought out by FTX. Now, these are just rumors about what's going on, but I think there's a little bit truth to the story and whether smoke, there's fire, as FTX also was a successful launch or auction of Voyager. Also, we're going to talk about paying attention to projects that are actually building the bear market, more specifically, Genso and Sweat. And also, we're all doing a wallet use comparison and a subtle reminder of just how enormously biased I am on this channel. And lastly, we'll talk about a Q&A, plus a little El Paso meetup for those in the area. So let's just jump right in. The first thing's first, Celsius and FTX. And this looks like a pretty reasonable article about what could potentially happen. I think these are the good things that could potentially come down. So we talked yesterday about how Voyager was successfully auctioned to FTX. The Sandbagman Freed just swooped in yet again and bought that up. And now they're looking at Celsius. The question I have, though, is this good for the crypto market in general? So here's what's going on in that shell. So Celsius is, oh, and one real thing, one real quick thing before I get going. Black Works is a great website. If you want to check them out, BlackWorks.co, they've got some of the best information, good reporting and things like that. Because one of these things I didn't was not aware of the very first sense. Celsius former CEO Alex Machinsky's resignation came about after a committee representing the crypto lenders, creditors called for his removal. Now, I knew about Alex Machinsky being ousted, him stepping down as a CEO of Celsius. However, what I was not aware of was that the UCC stepped in and go, look, you got problems, which means we got problems, which means you got to go. Which means that Celsius's CEO Alex had to step down. And I think it was a good move. It was a great move. I don't see how they could possibly go forward because no one trusts Alex. I don't know if there's people out there like, yeah, sounds like a good business plan. I just didn't see it actually happening. So it was interesting that the UCC said, you need to step down or we'll make you step down essentially. And that's what happened. So the committee pursued an investigation into Machinsky and other company insiders, including their problematic asset deployment decisions. And I think more information is going to come out in the Chapter 11 bankruptcy case, but we'll see how it goes. Right now, looks like there was just some poor mismanagement, maybe some uncollateralized loans, which is the same thing that brought down Voyager to three arrows capital. But this is just speculation. Upon review, the committee found that retaining Machinsky as CEO was unacceptable and not in the best interest of the estates. And that new leadership was vital. Well, yeah, Machinsky continues to hold the direct position in Celsius. Oh, yeah, real quick. Machinsky continues to hold the director position at Celsius's parent company. Doesn't only get ousted all the way and just sitting in his house waiting for things to happen. He's still there. But CFO Chris Ferrara was appointed interim CEO and chief restructuring officer. There was supposed to be a YouTube live stream from the Celsius committee, which was supposed to be live today, which it was. And the Celsius official committee of unsecured creditors had a live YouTube stream, which I thought was quite interesting. And you can show the thread. But if you went to the live stream today like I did, you can't find it anymore. It is now private. You missed it. And why did they put it as private? I'm going to tell you why, because they couldn't figure out how to use Zoom. So this was me recording on my phone as I was watching these guys fumble through it. I'm like, sweet baby Jesus, I cannot believe that we don't have people in this day and age who can figure out how to use a microphone and Zoom, but they couldn't do it. Not to say that that's like the most awful thing, but if this is an omen, things are not looking good. So I just sat here for about 20 minutes just watching these guys stare at me and I stare at them and nothing really got answered. So if you're looking for that video, that's what happened. Anyhow, this is the good stuff. FTX is weighing in the wings to scoop up Celsius's assets. FTX, which is looking to raise a billion dollars, seems like Sam Bakman Fried has like a bottomless pit of money, is now reportedly weighing a bid for assets blown to Celsius. The as yet undisclosed funding round was confirmed by Bloomberg on Tuesday, citing a person familiar with both the raise and the acquisition bid. So again, I'm not for sure how reputable that is, but that is what we have right there. So moving on, hopefully this actually happens. It was later revealed Celsius had fallen victim to a run-in-the-bank scenario when users became disillusioned with both the firm and the market downturn. I got to tell you, I don't think it's just that. That it was just a run-in-the-bank because if you take a look at a website, it's called Nomics, N-O-M-I-C-S dot com, link in description. You can see that here's the top crypto exchanges. You have Binance, the 24-hour volume was almost 80 billion. OKX, almost 19 billion. Coinbase, 2 billion. Bybit, pretty good, 15 billion. FTX, moving up there, 12 billion. Kucoin, and so on and so forth. There's been FUD campaigns against these. I remember there's been FUD campaigns against Binance about all the different hacks that are going on, about Coinbase and how, for their terms of service, if they went bankrupt that everything will belong to them. Same thing that happened with Celsius. And we've had FUD campaigns and people have gone there and taken their funds out. They still seem to be making it OK. So I don't think it's just a run-in-the-bank. I think there were some really poor decisions down the road and it led to a collapse. So I'm not going to buy the run-in-the-bank scenario. By July, the lender had fallen deep in the red with $4.7 billion owed and 100,000 creditors. Some creditors lent the firm cash without any collateral to secure obligations. Huge mistake. Bankman-free trading firm Alameda Research is among those listed as one of the leader's top 50 unsecured creditors. So sounds like, well, you owe us money. I might as well just pour money into it and then own everything. At its peak, Celsius had managed around $8 billion in crypto loans. That's a pretty fast build with around $11 billion, almost $12 billion in assets, and served around roughly $1.7 million users as of May, 2022. And tip of the hat, that's great marketing. That's great planning. Unfortunately, the execution was extremely poor and here we are. The thing that I concern myself with and I think this might concern you is, is this a good outcome for the crypto sphere? So get into it as Sam Bakeman-Free just starts to gobble up everything. And I got to tell you, there's a lot of things going on behind the scenes that which we will never know about. And one of those things is, there was a little snippet or a clip that was sent to me, I think it was BitBoy. It was complaining about SBF and the things that are going on behind the scenes and the different connections that he has with politicians. And I was like, yeah, yeah, whatever. But as a quick reminder for everybody out there, do you know who was a pretty big contributor and actually visited the White House? The President and Joe Biden? It was this guy, Sam Bakeman-Free, also who donated Chris Larson, Paul Tudor-Jones, and some other people I don't know. So just so you know, oh, wow, Judy Diamond, the wife of Jamie Diamond contributed there. Look at that. And Elizabeth Miller, okay. So just so you know, the question is, is this good for crypto? I can't answer that definitively, but here's the thing. Can we change anything about that? Can we go on there and say, you shouldn't do this or you should do this? We can make our voices heard. But sometimes we have to worry about the things that we can change and accept the things that we can't. And just ride that wave. So if SBF is gonna come in and buy out Celsius, somebody will say that's awful and that's this and that, but inevitably it'll probably happen and we'll move forward. And for me, I just look at the things that I can change and I can't and that's just one of those things. So let me know as you think about that in the comments section. And now let's quickly talk about projects that are building the bear market because I need you to pay attention because I think as we come out of this bear, good things will happen. First up, Gensokishi is now being listed on Bybit and they're token for round, whatever they call it. And this is a project that we had covered over on our second channel, Dan Degen. And of course again, Bybit, if we just take a look at Nomics, pretty big, 15 billion 24 hour volume. So good for Gensokishi as they move forward into that metaverse play and play to earn all that great stuff. Also another one, Sweat. As I've talked about this in general, well actually extensively, I must admit for quite some time. And this was a good article what talks about what it's doing. Just know, you know, it's staking, staking is off of 12%. The stake, the Sweat Wall is offering FIFA World Cup packages, 3,000 gift cards, Amazon gift cards, NFTs and soon will offer increasing minting limits. 50% of transaction fees, Sweatcoin premium subscriptions, governance rights, exclusive access discord. And then also they have Fiat on ramp and testing. So they're going to be a legit crypto exchange. Here's the revenue streams, user engagement. They got a learn to earn had 815,000 participants and 2 million people, went and looked into the few and far NFT offer. And this is a consumer. It's developing full wall functionality, with staking live Fiat on ramp, NFT games and crypto exchange coming soon. And then two weeks into the Sweat's life or the token generation event, it's already 5% more difficult. This is why I was harping in everybody two months ago to download the app because it was free. Just download the app is still free. And of course for every thousand steps you get a Sweat token. And now just a month later, or two weeks, excuse me, now it's 1,050 steps. And then next year, it's going to be more react 2023, 1,000 steps going to get you a third of a Sweatcoin. So you need to walk 3,000 steps. And then 20% and so on and so forth. So just let you know that's what's going on. And lastly, this would be the thing I'd like to talk about while comparisons. And again, with Sweat app, 120 million global users of a Sweatcoin app distributed their Web 3 Sweat token to 13 and a half million token holders. Sweat app became the number one most downloaded finance app in 51 countries. Over 2 million users downloaded and activated the Sweat wallet app within 72 hours of that token generation of that. It's the second most DAP across all the chains. And we launched Sweat app, reached the number one finance in 51 countries and five finance apps 115 countries, blah, blah, blah. What I just found this fascinating was this, was that they got 2 million downloaded and active wallet users. If you take a look at, and you can find this, this is a free website called Look into Bitcoin. I'm always blabbering about this one too. The Bitcoin active addresses, number of address on the Bitcoin blockchain either sent or received transactions to seven day moving average for deli fluctuations. You know, it's only about a million, 895,403. It's just interesting. I just found that interesting that they have that many. And then there's also another one I like to take a look at Bitcoin wallet addresses greater than one Bitcoin, about 900,000. So like we talk about these things and it's moving the right direction, but gosh, when I take a look at like what's happening with Web 3 and Play to Earn Gaming and NFTs, there's a lot of active wallets, things going on. Anyhow, let me just think about that in a comment section. And before you say anything, let me remind you, I'm super biased about the things I talk about. I just am. And the reason I talk about it is because I invest into them. If I didn't invest in a Bitcoin, I probably wouldn't talk about it that much. But I do. If I didn't invest in Ethereum, I wouldn't talk about it that much either. But I did invest in the Gensokishi Everdon fame and sweat coin. And you can find the deep dives that I did. There's a link in the description. It's called the DGEN sheet. And it links me to this public spreadsheet which talks about when I talked about it, how much I purchased it for, the amount of tokens obtained, all-time high price a day as things are slipping. You know, if you go. So before you say, but Rob, why you talk so much about that? Because I invest into it. And that's it. And the last thing I will say about this, Rob, why aren't you dumping all your coins? It's because I was an early investor and there's this thing called the cliff. So with sweat coin, I don't receive any sweat coins until 12 months later. And I can't really cash out until 12 to 24 months. So that's what's going on in the news. So look, that's it for today. If you liked that, that actually concludes the news. We did really fast, 13 minutes, pretty good. So that's it for the news. If you got to take off, take off. You've been here for 13 minutes. I'm sure there's other things you want to do today. But if you want to stick around, we're going to do the Q&A right now. I'll go over all your questions and answer the best of my abilities and we'll go from there. So if you got to take off, take off. Thanks for coming by. Hit the like and subscribe on your way out. Now let's jump into a little Q&A and also El Paso Meetup will be next week on Wednesday. Time and place will be revealed next week. But I need to say bye to everybody before I head back to Puerto Rico. So that's what's going on. Let's get into Q&A.