 Coinbase is leaving America and I have to tell you I don't blame them one bit And what exactly I am talking about is there was a blog post that was put out Yesterday late and it talks about an update to Coinbase's global scale to go broad and deep I thought it was interesting because a couple of days ago We took a look at Brian Armstrong There was an interview between him and a host of CNBC And they talked about the impending legislation that they're gonna probably have to fight with the SEC and they asked him Are you okay with going multiple years? He said absolutely, but I have to tell you As things are moving forward, how long is it gonna be before they're like? Why are we here? Why are we in in USA? We've done everything we can possibly do and they still won't give us any kind of clarity of regulation That still keeps suing us. What's the point when I'm going to be treated way better? Here's what we got so coinbase working with global regulators, you know, the ones that will listen to him And of course we've talked Not just this channel, but all the channels talked about how Gary again was getting right over the coals by Congress and You can just see here. This is what should be done working with global regulators Coinbase brings customer protection and trust to the forefront of crypto sounds good. Here's what they've been doing I didn't know this but From sing pass to free bank transfers We've launched a seamless safe and convenient experience for retail customers in Singapore Launched our first full crypto experience in Brazil integrated picks for easy account top up using Brazilian Brazilian reals Localizer Apple 24-7 email support. Hey, that sounds pretty good here in America too partner with e-banks and Streamline the user on board process It also talks about how they're making strides in the Canadian market, but they haven't really done too much But here's the two biggies Accelerating our United Arab Emirates plans with Abu Dhabi global market regulators Essentially working with the regulators to bring that to the UAE, which sounds good to me because that's where all the crypto Big-time people are anyhow and received our regulatory license to operate from the Bermuda Monetary authority essentially what they're doing is like look I'm gonna get any kind of licenses here because as much as we ask we're just not gonna get it So forget it We're just gonna go off to Bermuda and get our licensing down there They're doubling down in Europe and this is an interesting stat 22% of UK adults currently own crypto They state the political establishment is very focused on harnessing the potential of the crypto economy and Welcome the team received lay this ambition there and lastly They applauded the European Parliament's adoption of MICA So we'll do that in a second, but just think about that real quick if you are an enormous Company you've gone public and you've said to everybody we want to work here And the regulators are like that sounds good. Here's a well as notice We're gonna sue the pants off you and all the funds and all the different profits that you make we're gonna try to take that back as We're going to suck you dry with all the lawyers and all the legal fees And we're gonna tie you up in court and tell you aren't as profitable as used to be what is the point of staying here? so on top of this last piece here European Parliament's adoption of MICA, I'm sure you've heard about this Congratulations, Europe. You just passed the crypto law, which is something that America should have been doing a long time ago Instead we are dealing with a Howie test, which was made in the 1930s for corn and agriculture so Good job, Europe. You're doing a heck of a lot better job than we are EU laws comprehensive regulations MICA crypto law passes This will bring in new rules for the industry across the 27 country block It passed with 517 votes in favor and 38 against and 18 abstained So this wasn't even close Europe wants this European countries want this the block wants this because they see where the puck is going Now where the puck is at right now? Crypto firms including Binance Coinbase and Kraken welcome the passing of the landmark landmark legislation Let me just say this before I move on For everybody out there who's like we don't need regulation We can do it just fine. We can be all right and we can do those things. Sure. You can do it. You don't need it right It's like here's how I compare it It's like making $20,000 a year in the United States. You could make $20,000 a year You can make $50,000 a year or you make $100,000 a year. You can get by and each each and every one of them It's gonna be very difficult when we tell you especially about where you live, but why not just do it that way? So when we talk about regulation, it's not like I'm talking about like we're gonna clamp down everything else I just talk about Guidance and clarity because without that then we lose our exchanges and what happens when we have our exchanges well Things go underground. Can we still get by sure? I mean, I don't care. I'll go do some kiosk and some run-down mall and use a Bitcoin ATM and pay an exorbitant amount of fee to get it but That's what it's gonna have to be so again. I applaud you're up for doing this Anyhow not to get off. Let me step step off my soapbox and get into this article So the mica legislation means that you you will have a unified approach to crypto asset regulation Across all 27 member states making it possible for firms approved in one country to passport their business and others With minimal paperwork So you would look at this and go well, I can see why the different exchanges would like that but hold on To achieve initial approval firms will have to face much higher standards of disclosure Including the preparation of a detailed white paper for each and every asset that they offer stable coin issues are subject to even tighter rules So the question then becomes Why is it that coin base and Kraken? The other Gemini they're all applauding this because they know they're like we don't care That's what we want. Anyhow if you just would have said just do this this this fine, you know, we'll do that just fine That's what the EU is going to give them. So why wouldn't they just go there? Or you know what you guys can stay here and get the pants suit off you and keep receiving well as notices. Good luck And this is from vice president international policy a coin base the European Parliament's adoption Micah the day is a pivotal moment for the crypto industry in the region and the work of European policymakers should be seen as exemplary Listen up Gary Gensler, so that's what we have so again I tip my hat to the EU and passing that so because the mic was a long time coming there was issues that were Buried within that that bill which would have made a little bit more difficult for Bitcoin miners And they rooted that out and corrected it because people Stepped up and they said we don't want this and this is how it's supposed to be done You have a bill you have legislation you listen to the people because the government is supposed to work for the people The other way around that's how I see things anyhow. Let me know where I'm off in that assumption and then also Speaking of countries that are getting it right Russia Not the war with Ukraine obviously not but at least they figure things out like hey if you're gonna sanction us Here's what we'll do Russia plans to mine crypto for cross-border deals. This sounds great on its surface, right? Hold on Crypto trading and payments inside Russia will still be banned So it's not all great, but I gotta hand it to Russia for going look if you're gonna sanction us and we can't you know Open up trade and commerce then we'll just talk to the countries that want to use Bitcoin or cryptocurrency and we'll mine it and Then it'll be a hash rate war and that's fine with us And then also I was thinking myself is this independent or is this gonna be government control? Obviously government-controlled bit river one of Russia's largest mining companies previously partnered with the state-affiliated oil company Gas promnest nailed it. So not only is the government saying we want you to do this But we're probably gonna subsidize you and we're gonna give you cheap electrical cost if you're gonna partner up with us Brilliant. I mean take notes America. That's how much it works. So that part is good and then also some other good news Voyager Which I talked about an exorbitant amount of time because I thought it was great until they did something truly stupid Which was give a six hundred some million dollar loan to three arrows capital uncollateralized. Hey What are you gonna do? Sometimes you just give a half a billion dollar loan to people who give you a piece of paper that say that we got this bro Frickin believable Brand grew up crypto lender voyager seals deal for one billion Binance us acquisition. This was a concern because of course FTX came through and that fell through because SPF is Next Bernie made off I think And then and then Binance stepped up. Thank you And they said we'll do this Binance us stepped up and the government stepped in as they usually do and say no No, we don't want you to do that. Well now that's been all Smoothed out this is from the voyager official community of unsecured creditors and they state the resolution is embodying a joint stipulation Providing that the appeals will continue with respect to the plan's provision with the government agreeing US government that the Binance us acquisition of voyagers assets may move forward without such provision And will not otherwise be subject to this day. Thank you America for allowing us to get some of our funds back So then the question that becomes well, how much we're getting back? What's the haircut? Documents and information vary but I can tell you that we did a video about this about four months ago And in this video This was a balanced Sheet snapshot of voyager. This is in millions They had total cash 104 million that should have gone back to everybody or most people total crypto loaned Excluding three arrows capital is 470 million. Hopefully they got that back total crypto held 685 million so total crypto held and long was one point Which is roundup 1.3 billion And then they talked about it was going to be three arrows capital loan recovery to be determined, which that's not going to happen So the total recoverable assets was 1.2 billion dollars And if you throw in three arrows capital, which they're probably not going to get back, but I could be wrong 1.8 billion dollars and this was On june 30th 2022. So what was the market doing back then? Glad you asked So you can go to coin market cap and around 26 of june 2022 Yeah, 26 of june just four days beforehand You were seeing bitcoin at the price of 21,000 a theorem was 1100 Binance 233, uh cardano 48 cents. It's cars like that same one actually But you can just see what and I think the bigger question will be what's the market cap the market cap roughly on that date june 29th was 896 billion And on june 30th 907 billion right now. We're sitting at 1.24 trillion dollars So they're going to offer up 1.05 billion dollars. So what's it going to be again numbers vary I've seen everything between 30 percent and 66 percent of What we'll actually get back and then also before anybody asked me i'm in texas right now If you live in texas, they're not going to get that that's uh money transmitter license from binance us I don't think so but I could be wrong and in that case you will not get your crypto You will get a dollar amount sent back to you in some way shape or form I will have more information as that becomes available But that's what we have finally a little bit of good news. So the funds that I have my five figures I'm going to take a haircut take it out reinvest in the crypto learn my mistake Which is never trust any exchanges put everything on a cold storage device. Anyhow, let me just think about that In the comments and to finish up It's a weird story. I don't know. I don't know. I don't know why this is even even here Credit agency giant trans union will deliver credit scores for crypto lending and I was looking at this. I'm like, what the hell is this So just so you know here in the united states, we have three agencies that determine our credit scores Equifax experience in trans union. So trans union is like, hey, we're going to give you a credit score For defy lending and I'm like, all right That doesn't make any sense, but okay Trans union will provide traditional off-chain credit scores for individuals when they apply for loans on blockchain based protocols That's pretty much it and they talked about how they're going to use minimal information And it will also be kyc and aml and all that good stuff, but I'm thinking myself. I'm like, do we really need this? For defy loans, I mean like that's the whole point of collateral You put up your your crypto and you get funds back and And that's it. So why do I need a credit score? I can only the only way I can think of this actually works out Is if you say, okay, I want A loan and crypto. I'm gonna put up I want a hundred thousand I'll put up 25,000 of my crypto loan me the rest And I need a credit score for some reason and then I'll get the 75,000 out of it I guess because when I've done loans before it was you had to double or triple collateralized and then get a reasonable percentage point And that's how it worked out. But for me, I'm like, maybe this would work for some people But again, I'm like we're in the new frontier. It's almost as ridiculous as I don't know if you knew this but netflix Just yesterday yesterday Ended its dvd by mail service Who here uses dvds and some of us I guess did So I'm just thinking and this was seriously this just Just came out april 18 2023. So I guess a couple days ago So I'm just looking at this like maybe there's some people out there that would go for this, I guess But I don't see the point Kind of like dvds. Anyhow, let me know where I'm wrong here And then to leave off on some good news and this is fantastic Dutch court agrees the free tornado cash developer alex Pertsef pending trial. Just so you know This was a gentleman who was a developer for cash app. I'm sorry cash tornado cash And he said to be released on bail after nine months in detention without a trial just for creating software He's been released on april 26. That's uh, was that six days away? And without having to pay any financial security and will be permitted to return home Just so you know, he was arrested on august 10th 2022 by the dutch fiscal information and investigation service or fiat So congratulations because this guy shouldn't have been in jail At all So I'm glad to see that something actually works the wheels of justice do move slow But sometimes they actually move and that is it for this part and also Who wants some money? so You know on this channel. I've been pretty bullish on On crypto gaming coming up. I'm gonna be more so into the casual if you want to find like like the really cool stuff Go to crypto stash. He deals with all the triple a ranked games and all that good stuff Great channel For me, I'm more of a casual gamer when I'm just got nothing to do and I'm sitting around my phone But alaska gold rush is a game that just came out just launched and They said hey, why would you like to give away some money to your to your subscribers? Sure Why not? So I put out this tweet the last couple of days ago. Hey Alaska gold rush listing is about 24 hours to kick it off I'm gonna give away a hundred dollars worth of b usd Here's how to get a chance to win follow me follow them retweet join alaska telegram group Bing bang boom done So Let's pull it out How are we gonna do that? Well, first of all before I do that We just did a really good show me Ben and guy Over at NFA live. This is on ben's channel this morning. Go check it out. It's pretty interesting It was a lot of macro stuff and global liquidity and things that were going on and just the macro verse So I linked that in the description. Go check it out. I always love doing those ones. We'll do it Next week I'll be in Las Vegas. So we'll do it over there But for this This these winners if you don't follow me on twitter there's a link in the description Some other to these some actually do giveaways And it says uh same thing. So I'm gonna load this twitter picker winner count is gonna be three people You had to follow at news asset at alaska game the telegram group. I can't put it in there So, you know, we'll go on the honor system. Hopefully you did it Who knows? Continue Ah, look at this So 39 entries 39 people did what they're supposed to do and I appreciate every one of you And let's see Here we'll just continue And let's begin the draw Da da da da That's a long time Status 39 entries winners show rejected Oh, hey when twitter picker doesn't work. I guess that's it Nobody wins. Okay, fine Oh, you know what this could be the reason oh now I gotta do this again Listen, if you want to stick around don't stick around have fun. Get out of here Ah, look all these ads. Jeez sweet marion joseph. No wonder This is what I love about brave browser. Let's do this again Sweet joseph All right, winner count two three I fly almost have a picture Okay, now there's 46 entries. Congratulations continue begin the draw Hey, look at that. Oh Slavic you were so close man. You were close. You didn't do something. So sorry So let's see Before I get a bunch of scammers Trini that crypto I will follow you That's not a perk Like if you win I'll follow you and then I will direct message you later So I have to deal with people going. Hey, I'm trini crypto. Give me 100 bucks No, you're a filthy scammer. All right. So erin I am a divorce. I'm dalvers trini that crypto. I will reach out to you. Just need your address and I'll send you $100 and that's it for today. So look Thanks for stopping by if you like today's video give it a thumbs up consider subscribing again crypto is not a set it and forget it type of Investment you really need to keep up to date with this So if it's not me pick somebody that you like and just keep up to date so you don't get left in the dust That's it