 Right well made you less that news they get top sores in crypto right on a bite-sized piece So today we got a lot of stuff to go over. So let's just jump right in we're gonna talk about a lot of different things More importantly, well, you probably hear because of the thumbnail title Which suggests that there is a four-year low as people are taking their Bitcoin off exchanges pretty rapidly I'm gonna talk about why that is and the positivity behind it also We'll take a look at how FTX the crypto exchange is up a thousand percent now They compare to other major exchanges more specifically we're take a look at Coinbase and where all their revenue is coming from hint It's on you and lastly we'll take a look at how Voyager wants a bonus, which makes no sense to me So I'm gonna call this one clown news and then we'll take a look at some stable coins Why the US government should really should really think about embracing it. So first things first. Thanks for coming I appreciate it. Let's take a look at Just a look about what it's like to DCA in this horrible market and it looks like this. This was actually something that I had I Had put together and put a little music to it But this is essentially what it feels like When you are dollar-cost averaging and You're just going through the motions as you see everything is just crumbling around you and unfortunately That's just how it is. That's just how it feels and I know Some days doesn't feel like you want to do that and I can totally agree with you there because it's tough to Keep putting in and not really getting too much out But there is a payoff at some point Just the thing is is that it just takes a little bit of time And I can't give you any financial advice not a financial advisor But just remember like when you're going through the motions, I know it feels like this but there is a little bit of a Light at the end of the tunnel and if you just take a look at these four-year cycles This is exactly why I did last time when it was boring and everything's moving sideways. I just dollar-cost average I know you're sick of hearing me say it because I was sick of hearing youtubers say it to back in 2018 when everything just collapsed but it worked out to be okay just remember bear and bull cycles it's just a natural part of The markets and that is just the truth now You can do a lot of things like trading and going on Leverage and things like that, but just don't get stuck like this. This was the total liquidations you can find this at coin glass calm and Liquidations for longs and shorts just a couple of days ago today's the 22nd right 22nd four days ago As far as longs being liquidated you had a total of half a billion dollars worth of longs being liquidated And you can do all those things and you can and make it I'm not here to tell you what to do is just that just be careful out there because days like these days They're not too infrequent as you can tell right here. So that's what the market is. That's what's going on Oh the market you ever got to tell you it's boring It's a bit goings down point two percent Ethereum's down man eighteen percent for a week I think you all know this because you check your your portfolio. So why should I even say it? I just don't I'd like to say just to just to give us a reference But we're down 1% will probably fall below a trillion. That's just how it is and That's just the market that we are all involved in so that's what's happening Let me just think about the comments section and don't feel bad. I mean even the S&P 500 and NASDAQ is down as well So we're still pretty correlated NASDAQ down two percent. So that's what's up Let's jump into our market, which is what I find fascinating. So this was a tweet Put out by glass node. I thought they were full of it. I'm like, no, that's not right I can't be correct. But yeah, this is a Bitcoin balances on Across all exchanges and you can see that 2020 There was like a nice little run-up People were putting their Bitcoin on exchanges probably in anticipation to sell When the when the bull run came around and definitely did and people sold and or they took it off But as you can see as of today August 22nd It's at an all-time low. What is that? Well, I had to actually take a look at over a crypto quant and This is also the same thing Bitcoin exchange reserve for all the exchanges and I was like, is that true? Is that right if you see if I can go in here So the exchange of reserve this is even 17 of August 2.3 2.3 million as far as Bitcoin and if we have to go we have to go all the way back 2.53 2.5 to 444 say 2. Damn all the way back to 2018 It's when we saw this Low amount of Bitcoin being on exchanges. What does that mean? Well, usually when people put a ton of their Bitcoin or Ethereum or Solana or Cardano or whatever On the exchanges it usually means that there's they're looking for a route to sell but when they're taking it off Usually usually an all-time usually means they're gonna hold on to it for a little bit of time because they're gonna put it in cold storage And that's it. So there's that reason I think there's another bigger reason I play I think the reason why a lot of people are taking their their Bitcoin and more specifically most of their crypto off exchanges Because they don't know what's gonna happen with with these exchanges and we just saw I'm involved we saw Voyager we saw Celsius collapse and who knows when the next one is to fall So I know like people will rejoice about this and go. Oh, this is great. People aren't gonna sell Let me they're not gonna sell let's be honest people are gonna sell miners are gonna sell That's just just how it is the nature of the beast But you have to remember that I think people are taking more of their crypto off the exchanges Because they're worried that some of these exchanges aren't gonna last and some will actually take it off because They aren't gonna sell anyhow. So let me just think about that in the comment section I think it's a it's a positive and it's a good step in the right direction Like even me I was a little bit lax on that on that that process of taking things off and now It happens like clockwork. So that's what's going on in the for Bitcoin. Now. Let's take a look at a little article I think it's interesting about this one How much FTX is making and How it compares to other exchanges more specifically coin base and before I before I say before I move on I would just say this is is that this is a free market society if you're here to make money That's your job, right? You have to answer to certain people. You have to pay employees. That's not what I'm saying here When we're looking at is just the revenue process. So good for FTX and Sam Bakeman free for making a ton of money Good for them. The question is though is how much is off the backs of the retail versus the institutional investor? So let's jump into this one. So FTX revenue grew a thousand percent in 2021 amid the booming crypto market great That's good stuff FTX chief CEO Sam Bakeman Frieden has confirmed media outlets him his report that FTX grew by a thousand percent in 2021 in a Twitter post Sam Bakeman Fried said for what it's worth Numbers here are about ballpark FTX's revenues grew to 1.2 1.02 billion in 2021 and that's from 89 million in 2020. Where else can you do that only here? That's all it's an enormous jump the first quarter that breaks down even further first row 2022 FTX Guard 270 million in revenue. It was on track to touch of 1.1 billion in 2022 FDX operating income was 272 million so operating income up from 14 million imagine that 14 million at 217 million FTX net income touched 388 million up from 17 million in 2020 So a pretty big jump, but I mean in 2020 who was using FTX not a lot of us So I got to give a round of applause to Sam for making this work and remember They are also involved with some different bailouts for different crypto companies and the reason why It's because cash on hand to do those things. They didn't do a lot of a ton of risky things I mean they did they took some risk, but not the majority big Obnoxious risk that that some took and of course ended up failing But the question I had them was well, how big is FTX on the global scale? How big are they as far as a crypto exchange? It's a great website It's called nomics.com and you can find it as a link in the description You can check it out and you can take a look at the same data that I'm looking at so first of all The way that they sort of this was by an impact score Impact score represents an exchange influence on the price of assets of trades, which is an important number I suppose well what I want to take a look at and this is just in 24 hours in 24 hours You had 250 billion in transaction volume If I wanted to sort this just by the volume percentage wise Because first if we do first of all let me go back to the impact score FTX is number five by bit is number four coin base number three Okay, X number two and Binance is one But if I just want to see like who's really trading and moving off and doing all these things Let's just take a look at blind percentage Binance is killing everybody. I mean just it's just the big juggernaut that is 24% of everything being done in the last 24 hours is being done on Binance six percent by OKX Let me know really okay. I don't use them only I don't think I can use them because I'm in America Maybe I'm wrong correct me the comments Bitwell bing X FTX is number five. Well, they're still in our fight. Look at that 3% by bet ax But the things like like coin base 0.76% what happened hit BTC crypto market P2B big I know most of these bit true of her to uniswap I think most people are going to so I just find it interesting that That's what's going on and then it got me to thinking about this Well, if that's the ex did such an amazing job as far as as far as revenue production and they're in the top five I'm gonna take a look at the top 10 the one that I use the most would be coin base. This is actually the shareholder letter for quarter two of 2022 and I linked this in the description you can check it out yourself pretty interesting stuff and Just so you know You would think that You know retail would Would drive the space and it did for a while. We knew that institution has been has been Really ramping up the things they do and now I can understand why I mean they want to make they want to make those impressive gains, right? So retail This isn't billions The trading volume not the revenue just the trading volume the very first part here Retail did 145 billion institutionally 317 billion. So about half Give or take right retail and Q3 93 or 234 40% something like that Q4 171 3 71 about half Q1 74 235. Okay. Now we're starting to change things now. It's about a third and now here we are 46 to 171 roughly about a third again. So that's just the trading volume. So I want you to remember this institution did 171 billion in trading volume 171 billion. That's a lot of trading volume as Compared to retail 46 billion. So if retail only did 46 billion an institution that 171 billion who should be paying For those transaction costs for all all those transactions. Who do you think who do you think pays for that? Well, I think you know, you're not stupid You know that we're doing it But the but this was what was shocking to me. How much is it? How much are we paying as opposed to the institutional investor? or remember They're doing You know 3x what we're doing. Well, here's the net revenue from transaction revenue retail 616 this is a millions 616 million institutional 39 million Let me say that again. So retail you me all retail For the transactional revenue 616 million an institutional paid 39 million dollars 39 million But yet But yet The trading volume was triple So Again, I'm not here to To fault anybody and say hey, this is what it is. This is a free market And I got no problems with I have no problems with Coinbase. Just is eye-opening Just take a look at those things and go wow, that's a That's a big difference. It's like we're paying a lot and maybe we're supposed to so Let me just think about that in the comment section. I'm not going to dwell on it I just it just is what it is and of course It's up to your your your decision to use whatever exchange that you want to use. I personally still use Coinbase It's what it is But I also use others. So that's what's going on. Let's move into Kind of some this as I like to call it Is a little bit of clownish news and I want you to just maybe I'm wrong here in my thinking and I could be it happens Well, when I take a look at this story where Creditors object to bankrupt with the lender voyager paying out bonuses. I just think myself and I that's very clownish That's very ridiculous. So here's what we got Uh creditors of cryptocurrency lender voyager digital holdings are objecting to the company's request for funds to pay out bonuses to staff Saying the employees are already well compensated I gotta tell you I can't disagree with that The creditor's objection came after voyager On august 2nd to ask the judge to approve an employee retention plan that cost up to 1.9 million. Remember where that money's coming from That's your money. That's our money I have money in there Creditors argued voyager did not provide sufficient evidence to justify the retention rewards Nor did the company offer evidence that the 38 employees on the plan are at risk of Resigning Voyager said in this motion that these employees are exceptionally hard to replace in the markets marketplace because they're invaluable institutional knowledge understanding of the cryptocurrency Industry and that's all they got So I just want to make I just want to make things clear the way this article is written and I could be wrong It's the company's request for funds to pay out bonuses to staff. So that would be on top of Their normal salary, I mean hey people got to eat right So, you know, if you got to pay them a salary got to pay them a salary to keep them on to Move things forward at the end of this year at the end of this month We're going to figure out exactly who's who's paying for what and who's actually going to buy out voyager I think it's going to be a pretty good one But if it's a bonus I gotta tell you I don't know if I would feel comfortable myself if I'm working for a company that let down Millions of people I don't know if I could take a bonus for like I'm doing a great job guy. So give me a bonus It just seems very out of me. Anyhow, I could be wrong on how I looked at that Let me know what you think about the comment section. Let's finish up with Why the u.s. Government should really start to embrace stable coins and here's why this is a great article from Cointelegraph And it states tether circle and other stable coin firms held 80 billion dollars worth of short-term u.s. Government debt as of may 2022 That's what the government wants. They want you to hold the debt right t bills and stuff like that so Who's buying this up? Well Other countries can only do so much But if these stable coin operators want to do it sure so much the better and it's a lot So tether circle and other stable coin firms accounted for two percent Of the total market for us t bills or treasury bills holding a bigger share of t bills Then totally owned by warm buckets investment giant hurt giant Berkshire Hathaway stable coin issuers have also outperformed offshore money market funds or mms And prime market mms in terms of their treasury bill investment proportion. So You got government mms other foreigners. That's a lot, right? It's a lot better reserve 326 foreign banks 171 lgip stable coin issuers are right in the middle at 80 That's a lot of debt to take on from governments Which is why it's always surprising to me that gary genzer is talking about the wild wild west We need to regulate these stable coins so much. What are you complaining about? They're buying up this government's debt and we are going into massive amounts of it So in all honesty, I think they should be like tipping the hat but like hey, thanks so much for for taking the hard course We appreciate you, but of course, it's the opposite way, but that's just what's going on I just found it a very interesting article And you know, that's what we have for today for the news and that will conclude Just the news part you want to stick around for the q&a. That'd be great But if you got to take off get out of here And there's a lot of things to do today, but thanks for coming by do I really do appreciate it I do Hit the like and subscribe in the way out if you could or just at least a like You know what to find me for the it's not like youtube's gonna notify you anyhow If you uh If you if you subscribe to the channel only half do and even that's even dwindling So that's what's going on for the news today and now let's jump into a little q&a I'll answer all your burning questions the best of my abilities and we go from there