 I have to tell you, I think that Gary Ginsler is winning by pushing his agenda forward and making his base case for what he wants to do. What he really wants to do is he wants to slow down crypto and digital assets and stifle innovation. Even though he has lost out on quite a bit of some recent cases, Grayscale and Ripple, he's still getting along just fine. I know that there's a lot of videos and YouTubers, people on Twitter, now called X, saying that Gary's just getting grilled, he's getting destroyed in Congress, and that may be true. But how many times have we seen this same thing play over and over again? It's the same thing. He goes to Congress, they grill Leventar out of him. He says some things, he delays the answer, and he goes on and does his own thing. He has no points suing Coinbase, suing everybody around, and it's like it doesn't move the needle. I still don't understand why we have all these congressional hearings and things that are going on. In all reality, Gary's just going along just fine and stumbling up his nose and saying, I'm going to do this, and good luck stopping me. Again, you can find all these things. There's some really great stuff from Bitcoin Magazine, a guy from Coin Bureau did a great job of talking about how Gary's getting grilled like he did last time. Watcher Guru, same thing. And this is Tom Emmerer from Minnesota, I believe. Correct me the comment section. And all you got to really do is just take a listen to Gary as Tom is grilling him. I'm just going to do one clip. It's like 18 seconds, and that's all. So just take a listen to this. Mr. Gensler, you had an 18-year career at Goldman Sachs where you were partner and co-head of finance, correct? Yes, sir. Thank you. And is it correct to say that you made most of your personal wealth directly through your employment at this bank, Goldman Sachs? I've done well since then, too, sir. I got to tell you, that is a ballsy move to just sit there and be like, you know, I made a boatload of money, and I know you're going to ask me a bunch of questions, you're going to grill me. But in all honesty, yeah, I made a boatload of money, and that's what I did and what the good times roll. So again, I know this is a contrarian view, but I mean, this guy is just keep doing what he keeps doing. Now there was some good points to this recent grilling, this from this team crypto from Randy. And he said that Coinbase stand with the crypto low display of the Gary Gensler hearing, which Coinbase is putting this out for you to conduct your congressman or women, your senator, and to reach out so you can say that, hey, we need clear regulations. And actually called up live on this show, my congressperson here from Texas. And I said, hey, we need some better regulation. We need some clarity as to what is a digital asset, what is a commodity, what is a security, and move forward from that. So I'll link that video if I remember. But if you just look at Coinbase stand, you can see it's a very simple process. You can either call, email, or tweet. I recommend calling first, emailing close second, and tweeting doesn't do squat. But the question you probably have is why is Gary doing all these things, right? At MIT, he was a totally different person, and that cannot be denied. He was very pro crypto. It seemed like he was sharp. He was on the ball. He really got it. But who does Gary work for? Gary works for the White House. And people always say that, ah, but Gary's just here, and he's a stooge for Goldman Sachs and for BlackRock, and he's going to just get steamrolled, and he's going to do whatever they want to. Not so fast. He just delayed the latest ETFs. But again, he works for the White House. He works for Biden. He works for those guys. He's a Democrat. And I'm not going to say anything bad about Democrats. I've got friends who are Democrats. I've got friends who are Republicans and independents. It doesn't matter. But you got to understand where the guy's coming from. He's trying to push an agenda, and the agenda is not crypto friendly. That's just the truth. And you have to understand that there's three Democrats on the SEC Commissioner base. Gary, Carolyn, and Jaime. Three Democrats, usually they side together. Edmund, Mark, and Hester Pierce are Republicans. Now, having said all that, the case isn't lost. There is some positivity coming out. Now, this was a letter. The gentleman you just saw here. Look at that smug face. God dang, that is funny. The gentleman right here that is grilling him, Tom, he actually sent a letter just yesterday. Yesterday, right? Yeah, 27th. And he said, look, we're writing here the distinguished representatives of Congress to ensure the SEC does not continue to discriminate against spot Bitcoin exchange-traded products, ETPs, ETFs. SEC is responsible for making certain that products comply with investor protection standards, but are also made available to investors. And what I liked about this, there was four people that signed it. Mike Flood, Tom Emmer, Republican. Willie Nicholl, Richie Torres, Democrats. So Willie Nicholl here, North Carolina's 13th Congressional District, Democratic. Richie, Democrat, New York's 15th Congressional District. And Richie had a really good question for Gary. I don't have the clip, but he said, hey, if I buy a Pokemon card, is that a security? And of course, Gary's like, well, I need more contacts. He goes, let's just say I had a Pokemon card, and then I put it on the blockchain and I digitized it. This is security. And he kept asking him the same questions. And I think it would have been better if Richie just would have said, look, if it's all about investor protections and you're gonna say that this is a Pokemon card, and it's all about the habits and desires and the ability for the company itself to push this, to actually push up the price, wouldn't it be the same thing if I buy a Pokemon card and I let the company that runs Pokemon do their thing and then the value goes up of the card itself? Would that be a security? It's all you gotta say, but it kept going on and on. But it was a good question, still regardless. So I'm just saying, is that, I got a topic a little bit, sorry about that, a little, let me step up my soapbox. There are people in Congress, it's not just Democrats or Republicans, there are people that see it our way. It's just gonna take a little bit more time. And to that end, even though there was a letter that was sent to Gary and the SEC and said, hey, look, you need to start approving these things. So what did he do? He extended the deadline, this is not a denial. We all know my position on the ETF. I don't need to say it. They did not deny it. They pushed it out until the next round. And this is for ARK Invest and 21 shares, also GlobalX ETFs. And the odd thing is that ARK Invest and 21 shares, here they are here, ARK Invest, ARK 21 shares, they already blew past the second deadline and the third deadline wasn't until November 11th. And they blew right past it, go look, we're just gonna deny it now because we don't want to deal with this. So we'll get you on the final deadline, maybe in January. And everybody else will get denied, I'm pretty sure, in the third. And if it gets approved, it'll probably not be till next year. That's just how I see it. Maybe in January, who knows, maybe in March, I don't know. But maybe, that's all I'm gonna say is maybe. And the question is why they do that? Well, there's two schools of thinking. They did that because they're gonna deny it outright, potentially. Or, you have to remember, there is a government shutdown planned for October 1st. Yay, America. So if the government gets shut down, then the SEC works on a skeleton crew. They say, you know what, we'll shut this down right now. We'll shoot this in the foot and we'll let the CTF business go on later. And we're just gonna deny it. Are we gonna, excuse me, postpone it? I know people are sensitive about the wording. So, yeah, I mean, let's see what happens. Maybe he gets approved, I don't know. But again, Gary's winning because he's pushing his agenda still, even after his losses in court. He has almost unlimited resources, you have to understand. It's the US government. If he wants to keep pushing this and pushing this and go all the way up the ladder, he can do so. We'll see how it actually works. But I gotta tell you, it's disheartening. So what does this do for the price? Let's get to some good stuff. Nobody cares. So the price today, Bitcoin's up 0.3% at 3.6% in 24 hours. Who cares? And over seven days is down 4%. Maybe somebody knew something, I don't know. But that's what we have. And again, I've said this numerous times and I got made, and people, there was a lot of pushback on this channel. I remember I said this the very first time in 2022 at Guy's event in the UK. And he asked me what's the biggest problem with crypto and digital assets right now. And I said, it's because we have lack of regulation. And we need regulation to move forward. And I said this and I could feel the hatred in the crowd seething at me. It's like, how dare you talk about regulation? Look, I'm not saying we absolutely need it, but they sure as heck can slow things down. And we can really screw up the fiat on and off ramps and it can't give us a clear direction. And that's why all the companies are getting outside of the US and moving forward. Does that mean that it can't move forward? No, I'm just saying though, but why would you alienate one of the richest countries in the world because you don't want to play ball? That's what I was trying to get to. So that'll lead me to some of our last points and we'll talk about some positive. Tim Draper. And talking about regulation, here you go. So Tim Draper had a pretty good price ratio in 2017. Said he hit 20K and assures, heck did. Good for Tim. And he states, let me get my second prediction to actually happen. Don't move on the other predictions. And he says, the only reason I got the second prediction was that the first one was so good I had a lot of pressure to put another one out. Give me until the end of June next year. And he believes that Bitcoin will be 250,000. And he's writing the first one. Let's see if he gets this second one right that he has to push forward. But this was what was interesting. He says, the only reason this happened that it didn't hit 250K is because the government. Draper accused the US government of messing up his price predictions. He had expected the growth of blockchain to be reminiscent of the internet era. When he made investments in hotmail and Skype and all these different types of things that made him a billionaire. He said, I expected a much more light touch the way Bill Clinton was with the internet. They said, hey, we got the internet. We regulated it. Bill Clinton smartly left it alone. And it was fantastic for the whole world. And that's why we have Silicon Valley. So again, when I said that we need regulation, it's just something as good as law 230 that was passed in the 90s when Bill Clinton was around. Oh, those are good times. Great times. And it gave us regulation and we could actually move forward with the internet. And that's why we were a hub moving forward. If we don't get that, trust me, Bitcoin and crypto is just fine. It's just a delayed response. And that's the point I'm trying to make here. So there is that piece. And yeah, it slows things down. Let's get into some good stuff. Well, kind of good. Let's see what I mean in a second. Chase. So this is a story about, I think it's 48 hours old. Maybe 24, I don't know. Things move so fast. And this is from Chase in the UK. And they're saying, hey, if you are dabbling in crypto, we're going to stop you. And this went out to all their clients in Chase, UK. This is not globally yet. Who knows? And it says, hey, to help keep your money safe from fraud and scams, we're changing the types of payments you can make from Chase from 16th October. That's about two weeks or so. If we think you're making a payment related to crypto, we'll decline it. If you'd still like to invest in crypto, you can try using a different bank or provider. Chase, they pretty much just said, get out. We don't want to deal with you. But please be cautious as you may not be able to get the money back if the payment ends up being related to fraud or a scam. Again, pretty ballsy. And I tweeted this out yesterday. And then a gentleman named Kieran Sinkin said, yeah, lots of UK banks are doing this. I didn't know this. So if you're in the UK, sound off in the comment section. He says, I had to change banks because they just randomly decided to reject my Coinbase withdrawals. Yes, they refuse to even let me receive money from a centralized exchange. Not sure how that's protecting me, but whatever. And then he says, for UK in this situation, I'm with Monzo now. They are pro-crypto. And when I was looking through the comment section, hey, Jordan, my crypto bees Pascal, first out your president, Kieran, a psychopath. And a psychopath says the same thing. This has been a problem for me while in the UK. My bank blocked me from transferring to crypto exchange. So I took Coin Bureau's advice, shot up the guy, and set up a Monzo account to route my payments. And that has worked fine for the last two years. Monzo seems to be the most crypto friendly. So just so you know, I have no affiliation with them, didn't get paid by them. But I did put the link in the description. And apparently this is like a Genesis bank or an online only bank. For the term. Tell me on the comments. But with Monzo, I guess this is an online banking system that's crypto friendly. And I saw some here with Monzo, your money is FDIC insured up to 250,000. Now that's just in the US. I don't know if that's available in the UK because I'm looking at the US one. And I'm not for sure. But it is available in the UK and parts of the world. So maybe this is something for you to look at if you're having a problem with your bank. And why I say this is positive is very simple. It's because any time that you have a business that doesn't want to play ball with you and for whatever it is, but there is demand for it, they're shooting themselves in the foot because there's people like you and me are going to find a way to say, well, if you don't want my money that I'm not good enough for you, that's fine. Let's go someplace else like Monzo or whatever else is out there. So it's just like a deflating balloon. If you have a problem over on this section, you just go over here. If you have a problem there, you go from there. You're going to vote with your pocket book and go, you know what, I don't need you. I got other options. And you can have these issues and slowly have that type of spiral death. But I guarantee you, as time moves on, especially when the price of everything goes up and we get some kind of regulation, Chase will be like, you know what, sorry, come on back. Oh, it's too late. And so that's me. I think is a little bit of positive. You know, we're trying to do choke points. And then lastly to finish up two things. I got an alert from looking at Bitcoin. Looking at Bitcoin, it's a great site. It's got, well, all the Bitcoin charts are free. The macro stuff, you have to sign up for that. But still, they've got great, great, great, 100% free charts for Bitcoin. No, they didn't pay me. But what I like about this is there was an alert. And it said that the two year MA multiplier is crossing over to oversold territory. And what is this? First of all, the two year MA multiplier it highlights periods when buying or selling Bitcoin, would it produce outsized returns? I like that. It uses a moving average line, two year MA and also multiplication, that moving average, two year MA times five. And what it does is I love, that's why I like looking at Bitcoin. Because I'm a simpleton. And I need colors. So I'm not that, sometimes I'm just slow. But it tells you very simply, like here's a two year MA and it nailed it in 2013 in both peaks. And it said somewhere around this, everything's overheated. Maybe you might want to take some profits, right? Did it over here pretty good in 2017? It screwed up over here, I might add. And the 2020 was, but it was close. Didn't hit the November highs. So take it with a grain of salt. However, the outsized returns for buying nailed it here, nailed it over here, nailed it in 2019 when we had the all time low for that cycle for Bitcoin when it hits 3,471. And then it also hit it over here. When we had, oops, look for 2022. July, August, September, October, November. Again, this whole area in green when Bitcoin went down to 15,700, whatever the heck it was. And it's kind of creeping up to that point. So I like these types of things because it shows you that, hey, if you want outsized returns, you would invest it here when Bitcoin was $3,300. You would have crushed it. You would invest it over here when Bitcoin was $237. Again, you would have destroyed. And over here at $2, I don't need to tell you. So some look at websites called Look at Bitcoin. I think there's a link in the description not for sure. I don't have an affiliate link or anything like that. So just look for Look at Bitcoin. And then also, I love this story. You might hear this as a FUD story, but it's not. It's very positive. Marathon Digital, massive mining operation. They mined an invalid Bitcoin block. And when you see that, you're like, that's not good. But here's the whole story. We utilize a small portion of our hash rate to experiment with our development pool and recent potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our experiments. In no way was this experiment attempt to alter Bitcoin core in any way. Our team, our team, noticed the invalid block on the same time as the rest of the world and we immediately corrected the error. This incident, while unintended, underscores the robust security of the Bitcoin network, which rejected and rectified the anomaly. Let me say that one more time. Robust security of the Bitcoin network, robust security of the Bitcoin network, which rejected and rectified the anomalies. So even though they were trying to do these things and doing testing, the Bitcoin blockchain said, no, that's not right. And it changed it to clarify. The bug emanated. Oh, yeah. For Marathon's own internal development environment, it was not related to Marathon's production pool. Also not related to Bitcoin core. Bitcoin function exactly designed by excluding the invalid block. And that's it for today. So look, you can look at it as a bearish type of video. And I suppose so, but it is the reality. Again, I explain why I think that Gary's winning right now. It's because he's hitting his agenda. But in the long run, I think things will work out okay. That's it for today. So look, if you like today's video, give it a thumbs up, consider subscribing, all that great stuff. Thanks for stopping by. I appreciate you.