 Welcome to Jalassette News, like a top story in crypto, currency, and Jalassette's, and break it down to bite-sized pieces today. Everything is on the up and up and there's more stories to prove it. 20 billion in crypto under custody, Coinbase sees explosion of capital. We're going to get into how much explosion actually is happening and what the investors or the institutional investors are doing also. Good news, the XRP army, there's going to be support from Binance and Bitstamp. Also, don't forget it's going to be on Voyager. So we'll take a look at the intricacies of what's happening. South Korea does the smart thing and postpones crypto taxation until 2022. America, listen up. And in a fitting display of gratitude, Celsius contributes the last 25,000 ETH to launch ETH 2.0. And it's a great article about giving back and it's what I'm going to do right now because I'm going to take a loan out on Celsius in this video. But before we get into that, let's quickly go over the market. So today is November 25th. Tomorrow is my favorite holiday Thanksgiving because I get to eat like a pig and there's no repercussions. So congratulations to everybody we made it this far. And for the U.S., happy Thanksgiving. But here's what's going on in the market. So right now we've got Bitcoin at 19-1. It's around 19-2, 19-3. But again, it's up massively 8.4 for the week. Ethereum dropped a little bit, but still it's around 600. I mean, you can't sneeze at that. That's fantastic. Over 23% for seven days. XRP, the big winner. Congratulations to XRP Army. You held strong. You held for a long time. And this is the benefits of all that hard work. You're looking at 70 cents and it's up a massive 130% for seven days, three and a half for 24 hours. So yeah, that's what's going on with them. Tether's Tether, 18 billion. Dirt is going to keep minting. Good for them. Bitcoin cash down a little bit. Chain link, 15. What else do we got that's major? Stellar. Man, Stellar. I hold Stellar and I didn't know if Stellar would make it or XRP would make it. Looks like they just kind of go in tandem right now. 159% for the week. 19% over 24 hours and it's a massive 22 cents. So congratulations to Stellar holders. That is fantastic. 10% for Tezos, NEM. I don't know why, sure. Someone can explain that to me in the comment section. That'd be great. Filecoin, number 25. Again, this is still a good project. And I know people talk about how it was a scam, blah, blah. It's still a good project. I believe in some of the things that I really should invest into if I just haven't. Dash, Tether or whatever else. 5.3. They're in classic. Wow. Look at that. And then Theta. Ooh, hey, you know what? Theta, I'm almost approaching my 10,000 node requirement. So I'll just keep dollar cost averaging. Hopefully I can do that before it reaches over a dollar. So we will see. Anyhow, that's going on the market. Everything's good and fantastic. Let's break into the big stuff. All right. So this is what it's all about. What's going on behind the scenes? Why is there such a huge boom for Bitcoin? This is what we talk about on the channel a lot. But one of these things is that, hey, there's a lot of institutions coming into play and Coinbase, my favorite exchange at sarcasm, has got a huge explosion of capital from who? Institutions. And when I read this, I'm like, this is pretty big. So Coinbase revealed explosion of capital. It's around 20 billion. And 14 billion of that was accumulated just since April. So imagine this. We had the Black Thursday event. We had the big March crash because the coronavirus and everything was down. Everybody was talking about, ah, I've never come back. Well, guess what the institutions did? It's like, oh, we know it's coming back. And what we're going to do is when we just, you know, lick our wounds and sell all the assets that we have to recover, we're going to buy Bitcoin. And that's what they did in April, not more than a week or two later. So congratulations institutions. You did it again. Anyhow, Coinbase's head of institutional coverage, Brett Taepal. I think I said that right, Taepal. What is called Brett? He's got a good quote here. He says, it's a phenomenal time for crypto. Sometimes timing is everything. We have an explosion of activity. And speaking about timing, if you haven't watched yesterday's video, it was fantastic. It was me and Diddy from the Bitcoin family. This was the guy that sold all his belongings for Bitcoin in early 2017. And at the very end, we talk about his strategy, which is going all in, my strategy, which is dollar cost averaging. And to talk about timing, this guy timed it like perfectly right, right at the beginning of 2017, when Bitcoin was around a grand. So yeah, it really does come out of timing because if they would have done the same thing at the very peak, it would have been a pretty hard situation until right now. I mean, he wouldn't have dumped it all at $20,000. I mean, who would do that? Who would do it right at $20,000 or $19,000 or whatever it was. But again, timing really is everything. If you haven't checked it out, I'll link it at the very end. It's a great interview. Thanks, Diddy, again for coming on. I learned a lot. So speaking of timing, Taepal says he joined in April this year. So again, he had great timing because he's in his position. He's looking like a genius because all the institutions are coming to go and take our money. So he says, I joined in April and at that time, our assets institutional were $6 billion. Today, we sent it $20 billion. So imagine just getting that in that position like, Hey, I'm here right now. Let's see what I can do. And all of a sudden, you know, almost do like a 4x. So good for him. Anyhow, early in the summer, we acquired an execution platform called Tagome. Because I was thinking of myself, well, why did this happen in April? I mean, understandably, institutions want to get in, but they needed these on ramps. Well, what Coinbase did, which is what great companies are, let's just say good companies do, is they acquire things all around them to make them grow even bigger. That's called leverage. And what they did was they picked up Tagome. And what Tagome was allowed them to do was it says overnight and radically transformed our ability to cater to institutional clients that want to use smart order routing and algorithmic execution. So the stat that there's our trading volumes are 20 times what they were in the beginning of the year. So again, they did a smart thing, they picked up Tagome, they said, look, institutions come on in and they're like, great, we got all the different tools that we're used to. We don't know about Bitcoin, we like these tools. Bam. All of a sudden, you got $14 billion worth of more assets. So not a bad pickup. Anyhow, he states week after week, we've had an explosion of incoming capital. And then it gets kind of boring right here because he talks about all the things that we always talk about about Paul Tudor Jones and all these big institutional players and Drucken Miller and all these guys coming in. We know that. But this was interesting because he states what a typical day for him is like. And he says, by 9 30 in the morning, I had five separate institutional clients called to invest over a hundred million each. Imagine you're just sitting there at your office and people are like dying to get him, like, take my money, take my money. Like, all right, I'll get to you at some point. What a great problem to have. He explained that people sitting on the sideline are now looking at major banks, major accounting firms, hedge funds, endowments and now pay plug in the space, including this. It's really unleashed a second wave of institutional adoption. So again, nobody wants to be first, but nobody wants to be last. And that's why everybody's rushing in. Let me know what you think in the comments section. Let's move on. Next up, another quick article. So just so you know, XRP is going to have an airdrop. It's called Spark and Binance Bitstamp. And of course, Voyager are going to be supporting it. That's pretty much the whole article, but I'll just read a couple of pieces. So Flair Network airdrop is scheduled for December. When exactly December? It's on December 12th this year. That's essentially right after midnight. So all you got to do if you have a Binance account or a Bitstamp or a Voyager is stick your XRP in there and don't do anything. That's it. And you'll get this Spark airdrop. And I think that's one of the reasons why XRP is going up so massively, because people are like, oh, I want to get this airdrop airdrop. And Spark's going to allow XRP to have smart contract functionality. So that's a big thing. And of course, I mean, things are just moving in the right direction for them. But just so you know, once this happened, deposits and withdrawals will be reopened after the snapshot is complete, please note that trading XRP will not be affected during the airdrop. And that's really much it. I don't know how big this is going to be. I don't know if this is going to be the next big thing, but I can just tell you, I think it's one of the drivers of XRP really going up in price. And we'll see how it all works out. But again, don't do anything. Just leave your XRP in there. Easy, peasy lemon squeezy. That's it. Let me just think of the comments section. Let's move on. Okay, US regulators, if you're watching my channel, which I know you are, listen up. So South Korea may postpone crypto taxation of 2022. This is how it's done, folks. This is how it's done. You get everything in line. And then you launch things. This is also a cautionary tale for all the B5 projects. Get your ducks in a row and get everything ready before you launch thing and move and lose people's money. In this case, we're talking about taxation. So if you're not taxed in the country that you live in, the majority of you are going to get taxed at some point. So this is kind of a good article to see what's happening. So South Korea, again, does a great thing. What's happening? Well, the strategy and finance committee of the South Korean National Assembly, they're going to propose to postpone cryptocurrency taxation on transactions until January 2022. So they're going to be giving it a whole new year just to kind of accumulate and sell and do whatever you want to do in South Korea because we're not going to tax you. I can tell you, I should probably move over there. The authorities originally planned to include the tax in October 2021. The way it was caused by local crypto exchanges, needing more time to create an effective tax infrastructure. So that's really the whole article. There's one good thing down here. It says they're talking about chain analysis, which is a crypto analytics platform. They did analysis because they want to know how big South Korea is because, you know, my question was, well, how big are they? Who really cares if you have a tax or not? Well, chain analysis determined this, that South Korea has one of the most active crypto economies in the world, ranking seventh worldwide on our global crypto adoption index and second in East Asia. Overall, South Korea ranks third in total crypto received. So they are no lightweights. But what these exchanges did in essence is they told the government, look, we're going to push back. I know you want to do the taxes, but you got to need to slow your roll because we need to figure out exactly how to do this the right way because we don't want to overtax people. No one likes that, right? Well, welcome to the good old US of A. So what's happening right now, and this has actually been resolved a little bit, but this was an article, was this couple of days ago for the second year in a row, the IRS is warning crypto investors, they under reported their holding. So this is from a man, she had to get him on the on the show, got to get him on the show. I will get him on the show. Great guy, crypto CPA, but he says it's come to my attention that some crypto holders are receiving CP 2000 letters in the IRS. I don't know what that is, but it looks like it's one of those things where, hey, you didn't pay us a lot of money, and you're getting things like this. You owe us, this one says 3900, whatever. I don't know why they blocked out the rest of it, but sure. And you may get something like this, but this is what what it states is how much the IRS believes the users owe and provide due dates for payment. That always sucks. However, the users likely never realize these gains and don't actually owe these funds. Crypto trader.tax said, and to further reiterate this point, Coinbase has gone ahead and they said, hey, we're going to change up some of these forms because it's screwing everything up. And the IRS is trying to overtax people. So they're not going to send out these 1099Ks. They're going to send out a 1099 MISC, I guess. And here's what's happening. The forms can sometimes show all transactions as generating revenue, even if some may have actually caused a loss, which is what I had. If you bought a coin for a dollar and sold over 50 cents, your 50 cent loss would appear to be a gain. So that's a problem like there, but this is just some of the things that they figure out as they go along. However, what South Korea said is like, look, we don't want to go through that hassle, which is make sure we get as many things right and then we'll launch. So don't tax our customers, which is a fantastic thing. Hey, maybe you should try to look into that, but it's not going to happen. We need to collect so much money. We're so undead. Any other interesting thing in the comment section, let's move on to our last piece. So this was interesting because I'd reported on how Ethereum 2.0 might not launch in December because a week beforehand, they need to accumulate so many delegates or you had to report or get so much type of Ethereum and it didn't look like it was going to happen. Although it was 10% like a couple of weeks out, then all of a sudden it was like 40% in one day and then like overnight they hit the goal. So that makes me super bullish on Ethereum. If they can do that type of thing, that's fantastic, but this is what Celsius did. They donated the last, or they stayed, they didn't donate, excuse me. They staked the last 25,000 ETH to launch Ethereum 2.0. It's pretty fitting and it all ties up to this paragraph. It states, when Celsius first launched, we looked to Ethereum to learn how to create a thriving, robust community. Said Alex Michenski, CEO of Celsius, we built our cell token on the Ethereum blockchain and use it to scale and become one of the fastest growing companies in crypto. We're proud to inaugurate the Ethereum 2.0 genesis and you can contribute the last building block with 25,000 ETH from the Celsius community and be a helping hand to a company that helped us scale our own project. And to finish up, it says Celsius is going to earn up to 7% APY on ETH. That's a little incomplete because you can, but you have to have a lot of Celsius in there, but right now I think it's around 5%. So still not too bad. But anyhow, I thought it was a pretty great story about giving back, you know, somebody who starts off with, you know, one thing they use, they use Ethereum, they build the project, they like what they see and then they kind of grow and they say, hey, to give you to your next level, like you did for us and helped us, we're going to give back. So I had a little tip of the hat, very nice. But of course, there is a component of there. I'm sure they're going to make a lot of money, but however, they can still make a lot of money anyhow. So I like to see these types of things. Also, if you haven't checked out the interview between me and Alex, we went over a lot of different things and it really did restore a lot of my faith into Celsius going forward. I'm still a little bit more cautious than I was before, but I think it's a great platform and it's going to drive me to do what we're going to talk about next, which is I'm going to take out a loan on Celsius because I haven't done it in quite some time. So I'm going to take out a loan and I'll show you exactly how it's done. So I want to take out a loan on Celsius, this is going to be pretty easy. So I just need to go to the Celsius wallet itself, take that, paste it right here. Bam, man. So the first thing I want to do is click on the Celsius little icon in the bottom right hand corner, corner and then everything pops up. I've got wallet, transfer, withdraw, sell, pay, borrow. I'll take that. So right now you can calculate the loan interest. Let's just go to get cash, make this simple. Borrow dollars, sure. So it says how much you want to borrow. I want to borrow. I just want to keep it with round numbers today. So let me just go for a thousand. And it's going to ask me to choose the collateral. So right here, it's pretty cool because down here are all the different things that I have deposited. Well, actually I don't have, actually I don't have any dash. I do have EOS and Zcash and Uniswap and that and all that stuff. So it's just going to give me like options like, well, this is what you have. So choose one of these. So let's just choose Ethereum. This makes it easy. And here's our options. 1% APR, it's pretty good, but I got to lock up 6.7. All right. But I'm only not paying that much then. It's only 1%. 3.95, if I got to lock up 5 and then 7.95, 3.3, I have to lock up. So the question I have is, if I lock this up, I know Salisius is going to use this for their institutional clients and they're going to loan that out. Like they don't do it already. But then they're going to give me cash. So the question is, am I still going to earn interest on the Ethereum that I lock up? I don't think so, but how cool would that be if I did, huh? Maybe I will. Let's see. So I'm going to go for the 4% APR because I'm going to pay it back pretty quick. So this is pretty cool. So it says, if you earn 6 months, it's only $20, you're going to pay. 12 months, you're going to pay $40, $18, $24, $30, $36. So 3 years you can go out to. And of course, we want to go for either the shortest one. Let's just do 6 months. I just want to see how that goes. I only need to borrow a bank account. So now it's going to go to the bank account. Let's see if it gives me any personal information off the wipe away. So this would be all information you get to look up for your own bank. Let me take a look here. So now that you put your bank information, it's going to go for the basics. I've got to borrow a thousand, a grand for five ETH. Interest is going to be 4%. Month of interest, only 3 bucks. I'll take it. $20 over 6 months. And then of course you can reduce your interest rate by 5% by paying out and sell. It's okay. And this is the interesting part, ETH margin call. So if ETH drops below $301.79, you will be required to add collateral to meet the minimum loan to value. So right now, there's that $600 that looks pretty good. And also says you're going to be liquidated at $245. If ETH drops below $245, the margin call has not been that we will liquidate a portion of your collateral to cover the margin. So that's pretty good. I mean, look, $245, that's quite a drop. And it doesn't say it's going to totally liquidate you. It just says, hey, there's a portion at $245. So yeah, let's do that. Continue. Terms and conditions. And I'm just going to say that and that. And wow, that's a lot of information. Let's request a loan. Of course, 2FA. Let me jump over here. Bam. Take that. Paste that right in. And look at that. Loan credit successfully. So just that easy. A lot easier to go to the bank. I'll tell you that right now. That took, what, a couple minutes? So not too bad. And then of course, the other question is, well, how do we do this as far as like taking a loan out later on instead of paying taxes? Just take loans and loans and loans. And hopefully everything goes up. I think that could work pretty well, depending. It just depends on, you know, if the market goes up. Again, if you took a huge loan out in December 2017, you'd have to cover a lot in 30 days time. But if you did it at, you know, middle of 2018, you'd still be fine. So I guess it just depends. The big thing I guess would be not to take out huge loans as the market goes parabolic. Yeah, let's jump back. All right, that's it. So to finish up, if you haven't signed up for digital asset news or Dan teaches crypto, it's 100% free websites. Super simplified, very easy. Try to condense a lot of information down to the basics of things that you should know. And the members area, we break it down to five core components, just the basics, the safety, how to not get scammed and do all that nonsense, investing the different things that I try to teach and talk about far as dollar cost averaging, looking at the market, how to not get wrecked. And we take a look at module four different reviews and how to do your own reviews and how do I section, I think it's the most popular module five, which is how do I buy theta? How do I use Uniswap? How do I update the firmware of my nano and all those different things? And also the table of content is right here. So again, Dan teaches crypto 100% free is free always will be free. And that's it for today. So if you like those types of videos, there's gonna be two months going to pop up on your left and right. I'll let YouTube do its magic. I'll probably put the one up with Diddy that we did, which is a pretty great one. And that's it for today. So thanks for sticking with me to the very end. I really appreciate it. And I'll see you on the next one.