 Great. Welcome to Digital Asset News. Today, we got a lot of things to go over, so let's just jump right in. My name is Rob and welcome to the live stream. Usually we do this a little bit later, but today there's a lot of things going on, so I thought I would update everybody as quick as possible. So the first thing we're going to talk about, we're going to talk about how times have changed. And I've got to tell you, as time has progressed, I really think I found my audience. I'm going to explain it all in a little tweet that I put out. Also, take a look at the market recap. And then next, we're going to talk about how Celsius reached out to me yesterday and what's happening today in about 45 minutes. Also, we'll talk about probably the reason why you're here for the thumbnail. If you're thinking about buying the dip, I want to give you two sides of the same story so you can make the best decision for your economic future and go from there. Also, we'll take a look at the flip side and we'll talk about generational buying opportunity potentially. And then also, I want to talk to you about pay attention to who is growing right now as things are collapsing around us. So without further ado, let's jump into what's going on today. So today, actually it's a pretty good day. I mean, it's a nice day here in Texas. It's pretty nice. And Mark is doing okay. I put out this tweet and it was just when I put this tweet out, I thought for sure that I would get a lot of backlash because that's usually how it works when I say stuff like this. But I said, remember when we were a trillion dollar market cap and everyone was shouting diamond hands and they're making fun of you for taking profits? Yeah, I said those are good times. And I've fully expected people to say the same thing, which was like, no, you don't even talk about and you should hold forever and da da da da, which is, you know, whatever. And I didn't get that. And I got a lot of people saying, yeah, this is exactly where we want to be. And people were very positive. And I was like, hmm, and I said this, I go, I said, you know, I think all the tourists and moon boys are out of here because if I would have said this six months ago, I would have been welcomed with you're a boomer. You have your shell shock from 2017. Everything's going to the moon, bro. You're a moron, you're stupid, whatever else, right? And I just want to say thanks everybody for hanging around with me because this really is you if you are here in this Max Payne, hear my audience. Thanks for sticking around. So, yeah, I was actually surprised that we've got there. It's amazing what a liquidation of or decrease in market value of roughly 2 trillion will do. It'll get you to the real people. So that's what's going on. And then today, we've got to, I mean, we're not down 20%. I guess that's take that as a win. And last seven days, though, Bitcoin's down 30%. And we're just kind of hovering around this 20,000 level. And that's pretty much where it's holding. Ethereum's hovering around the $1,000 mark level. And I think everybody's just in a holding pattern to see who gets liquidated, what's going on with three arrows capital, what's happening with Celsius. I'll give that a second. And where we are going. So it's not like there was a big shock to the system. Everybody's in a holding pattern. And I can totally understand exactly what people are saying there. So also, in our sister organization, the NASDAQ, as I believe that we are pretty correlated, they're up a little bit. So I guess, let me refresh that. Yeah, I guess they're doing a lot better than us because we're down. Are we down? Are we up? Ah, we're down a percent. We're up a percent. Okay. Not as correlated as perfectly, but over the last, I don't know, three months, it sure has been lockstep with everything else. So that's what's going on with the market. Now I want to talk to you about Celsius. And obviously, I don't need to tell you what's going on. We had talked about this ever since Sunday. When I came back from Austin, from consensus, and I put out a video and I said, Hey, I don't know what's going on, but probably should take your money off of Celsius. Nine hours later, the withdrawals were stopped. There's a lot of rumors going around. Well, good news. Now we can figure out what's going on from the horse's mouth. There's going to be an AMA. It's going to happen in the next 40 minutes. We're going to wrap this up early so you guys can go over there and listen to Alex Machinsky talk. I have linked the AMA in the description so you can see exactly what's going on. So we've talked about this ad nauseam. And I've always said that here's the rumors. Here's what's going on. And we'll wait till we get all the facts in. Doesn't look the greatest. I must admit that's why I said to take all your funds off because better safe than sorry on Sunday. And here's where we're at. But a funny thing happened yesterday. Celsius reached out to me and one of their reps that works with the company official email. We talked for about 10 or 15 minutes. And the big thing was they were just asking me about. It was a weird conversation. Who had contacted me? If anybody had contacted me or paid me to spread any FUD or anything like that. Not that they said that I'm spreading any FUD. They said we just like to know because we've had these issues with people telling us they were contacted and spreading FUD. So you can look at this either way. You can look at this as the truth or you can look at this as them playing some kind of psyops. I don't know. I'm just letting you know what happened. The thing is, we will never know exactly what happens behind closed doors. The only thing that matters right now is that they open up withdrawals. And the only way we're going to get that information is listening to this guy, Alex Mishinsky. So go to the AMA after this and see exactly what they say. I personally have lost 3% of my portfolio because I have some rules. One of those rules are don't leave too much in any one exchange. Should have took everything off as I was doing all my things on Sunday. The withdrawals were canceled. So that was that. 3% is okay, but I've heard some horror stories. And in actuality, there was a tweet that was put out by Alex. And I said, Alex, you have to, and in that tweet I said, you can find on Twitter, I said, Alex, you have to come out live and you have to address these people. I've heard of three doomsday scenarios. And I've heard people saying they lost everything. I've heard a civil say they can't pay for their expenses. And I've heard of people talking about taking their own lives. I go, that is unacceptable. And your tweets that are coming out are hollow. You have to come out live and address this situation. So here we are. So hopefully we'll see where it goes, but that's what we got. Anyhow, let me know what you think about that in the comment section. Let's move on to what we do know, which is this was a video from Bloomberg markets. And this gentleman here, he works for BlackRock on this one of the financial, financial heads and what was surprising to me was not that he's saying that we're not buying. What we're saying was why they aren't buying right now. And I think it's a good lesson to learn. And we're going to take a look at what he says here. But we're also going to take a look at what's trading legend Ron Barron talks about how this is a generational buying opportunity. Can both be right? Potentially. But I'll let you make that judgment. So let me stop my screen. Let me share the tab so you can actually hear it. This is just about a minute or so, very fast. And let me mute myself so you don't hear me. I mean, the main point is that we are not buying this dip because it's not a dip. It's actually driven by a shift in the fundamentals of the equity market. We've got a higher rate path. We've got now a rising probability of recession in the US, very high likelihood of recession in Europe at the same time. And as a result, equities don't look cheap to us. And when you throw in as well, that margins, particularly in America, are at a all time high. Real wages have been squeezed. That's the flip side of those high margins. And one of the things that needs to happen in the United States coming out of the pandemic is labor supply needs to recover. And the thing that's going to drive an increase in labor supplies and increase in real wages. So one of the things that's going to help the US to sort out its macro position is actually something that's kind of macro bullish, but micro bearish. No, I think there are other opportunities out there. I talked before about the opportunities at the short end of the European and sterling markets. I think also we see opportunities in credit now as well. Credit has repriced valuations look more attractive than say equities and the yields have now increased. So this isn't the market where you come out necessarily into cash, but it's a market where we're more cautious. We're looking for signs particularly from the Federal Reserve over time that it is acknowledging the impact it's having on growth. And as I said before, we think the interesting thing is what happens in the first half of next year when the Fed sees what this tightening of financial conditions has done and sees its slowing growth more than it thinks is necessary to actually get inflation back down again. Okay, so that right there makes it to me. This makes total sense to me. I don't know if it makes sense to you, but exactly saying is like, look, you can get out and do what you want to do is but we're not getting into cash. We're just not buying right now. And it made and then when he said when he talked about, well, the Fed's going to have to figure this out, especially as they figure out that hey, they're trying to fight inflation and the way that they, of course, know that they have to raise the rates, but they have to play this balancing act. But once they realize just how detrimental it is to growth, then they're going to pull back. But the most important thing that I see is they're like, look, if we have to crush the economy for a little bit, that's okay, because we don't want to go into a full on depression. So we have to control inflation. First and foremost, we'll worry about growth later as we start to stall out, which leads me to my next point. So if we take a look at what he's talking about, the pivoting, I think personally this year is pretty much toast. I don't see a lot of growth. I see a lot of sideways choppy action and maybe even more at the downside, which sure, whatever. But next, as time moves on and these rate hikes come up, I mean, we got another Fed meeting in July, correct. And I think 0.75 is on the table, if not maybe a full point. That's a little crazy, but whatever. But you got to take a look at how things are going. This was shared with me by James from Invest Answers today. And it's app.trueflation.com. I think, I don't think I linked in the description, but it's great to take a look at. And what's great about this one is just, first of all, what is trueflation? Why am I showing you this? You don't know what this is. This is found in 2021. Trueflation offers independent censorship-resistant inflation calculations based on census-level price information from 30 data points. Trueflation was built in the premise of revolutionizing century-old models and methodologies that are no longer relevant. And it uses the chain-link oracle. So, of course, that takes in all real-world data from multiple different sources to give us a better understanding of exactly what's going on. And what's cool about this one is that we know 8.5 is a little bit crazy. I mean, I don't think, I really believe it. We're really at 8.5%, but sure, whatever. And you can just see it over time. 2021, not too bad. And we can see at its peak, it was almost 11.5%. Now we're at 10.83. And you can drill this down into what are the biggest drivers of inflation. So food and non-alcohol. That's a lot. I got to stop drinking. And then housing. I don't drink that much, honestly. Housing, 12.25%. We'll get into that. Transportation, 17%. Utilities, energy, 12%. Health, not too bad. 3.9. Household durable, 7. Alcohol and tobacco, 5%. Clothing for communication, 0.42. Education, recreation and culture, and so on and so forth. So if you really want to take a look at where inflation really is, this is a great website to start, which leads me to another point, which is this. This scared the hell out of me. This is Charlie Baleo. And he's the founder and CEO of Compound Capital. I've been following him for a long time. This guy's great. He's a definite follow on Twitter. Just straight facts. And he says, look, in January 2021, January 2021, let me do some quick math. It's like five months ago. The 30-year mortgage rate was 2.65%. 2.65%, 30-year mortgage rate. And the average new home price in the U.S. was 401,700. Now, for some, that's very cheap. If you are in Miami or if you are in New York or here in California, maybe not Miami. Now Miami is pretty expensive. That's nothing. But if you're in other places, you're like, that's a lot of money. This is an average in America. Today, the 30-year mortgage rate is 5.78%, roughly double. 55%, 60%. More than double. An average new home price is 570,300. 570,000 from 401,000. Assuming a 20% down payment for 400,000, that's like 80 grand, right? 80 grand? Yeah. That's a 106% increase in the monthly payment. The same payment or the same house that you have for 401,000, you went from $1,300 to $26,71 in between these two price variances for the average cost of a house. We just sold two of our houses, roughly January in Houston. And those prices were ridiculously overpriced. We knew it. People who bought it knew it. But it's not my responsibility. My responsibility is to sell when things go the right way. But if we can see inflation and we can see it over here, what do you think is going to happen when the real wages don't go up? What do you think is going to happen when the salaries don't increase, but people still have to pay these prices? This is the thing that really worries me. But here's the flip side. The flip side is, is this a generational buying opportunity? I got to tell you, with the Fed doing what they're doing, you got at least six months of choppiness and downward pressure. I could be wrong. I hope I'm wrong. But this is what Ron Barone states. And I'm not going to play the video. You can watch it later. But he just says this, this is a huge once in a generation buying opportunity, huge monstrous following these crashes in June 2020. First of all, who's Ron Barone? So Ron Barone, American Mutual Fund Manager and Investor, founder of Barone Capital, New York City-based firm manages the Barone Funds as approximately 45 billion in assets under management. So he's been in the game for quite some time. So it would be who him to talk about how it's a great opportunity to buy. I get that. I understand that. The thing is that I think is, this is my, my, my thoughts. I think we're in a recession. If we're not in a recession, we're pretty darn close. This isn't a recession. Lord help me. I don't want to feel a recession. It feels pretty bad right now. And it can get worse. I will remind you. However, people hear these statements about how, you know, the recession is like the worst thing of all time. It's not the greatest, but I can tell you this. If we take a look at the St. Louis Fed, these are the dates of U.S. recessions. And a recession is two consecutive quarters of GDP reduction. And this happened in 1969 for about a year and a half. Well, year and a half, two years almost. 1973, about a year and a year and three quarters. Here in 1979, year and a half, year and a half. 1989, 1990, year and a half, year. This one was the longest, 2007, 2009, about two years. But what I want you to see is the space in between. We talked about this before, the economic growth. Recessions don't last too long. And there's huge economic growth coming up this way. There was huge economic growth this way. And even in back in the day, when Volcker was the head of the Fed Reserve, look at these two recessions. A little bit of, and a little, little pump here, but look at this economic growth many two want. Huge, massive, long time, little recession, long time, little recession, long. So why am I saying this? Because I want you to understand that there's two sides of the same story. If you think this is the buying opportunity and you want to buy the dips and buy the dips, it's up to you. I personally think there's more downside. So I'm kind of sitting out just a little bit. But I will say that these recessions and this economic growth, to me, it kind of coincides with these four-year cycles I'm always talking about. And this is just how it's been in crypto. There's always a halving. This is in 2012. There's always a halving, Bitcoin halving at an all-time high than a dip and a reset. And these dips and resets are what? They're two years. There's a halving, all-time high, 2017, a dip and a reset. Two years. It's happened again. There's a halving and all-time high, which I thought that this wouldn't play out, but it did. There was the all-time high in 2021. I thought it was going to extend in 2022. That's not the truth. I don't see an all-time high hitting now, but a dip, and I think it's got more on the downside. But again, that's just a guesstimation. Don't take it as gospel and a reset. But I think we come back. We have a halving, an all-time high, a dip and a reset. So the thing is this, if you can stomach it, everybody's got the brainpower to invest. Trust me, everybody's got the brainpower. The question is, do you have the stomach? That's what Charles Schwab says. It makes a lot of sense to me. And if you dollar-cost average, I'm not saying to buy every single dip because you get dipped out, but if you just play the long game, if you're here for six months, you're not going to make it. If you're here to be a Dogecoin millionaire, this is not the channel for you. But if you're here to have a three-year, five-year and 10-year outlook, hey, I'm your guy. And you can dollar-cost average like I did. I mean, this is essentially how I made all my money in crypto when it was super boring and no one was really talking. They were all these memes about do something. I'm like, do something. Don't do squat. I'll just keep dollar-cost averaging. So this was the time that I bought a lot of stuff and went from there. Actually, not 2016. More like over here and around here. But those are the times is just an example. The second best time is on the upward swing. And that's up for you to say. Again, dollar-cost average or you can volume cost average or you can do like a combination. This is what I'm doing right now. This was when I said I was going to hold off on buying for a little bit because I wanted to see what the CPI numbers were and then I wanted to see what the Fed was going to say. So I just saved up the, you know, I put 100 bucks into Bitcoin every day. So I just saved up and then waited for the four, not the dip, but I waited for the numbers to come on a CPI and sure enough, and then of course went a little bit down. Then I waited for Jay Powell to come out and sure enough, here we are. So that's what's up. So anyhow, let me let you think about that in the comment section, not telling you what to do. I'm just showing you what I do and giving you both sides the same story. And that's what we got. So that will lead me to my last point and we'll get out of here early. I want you to pay attention to who's, who's winning, who's growing and who's honestly going by the wayside. So this was just an example. FTX with this guy right here. Look at that. That had a hair. That's a great head of lettuce he's got. FTF, good friend. FTX agrees to acquire a Canadian trading platform Bitvo as an eyes regional expansion crypto exchange. FTX has entered an agreement to acquire Alberta based trading platform Bitvo, all in the same thing. Wonderfi from Covenant Leary. They're also moving into the Canadian region as they scoop up all these exchanges. I think there was one to watch as well. Bitvo found in 2018 is registered as a restricted dealer under the securities laws of all provinces and territories in Canada. And of course they're delighted to get into it. Our expansion to Canada is another step in proactively working with crypto regulators in different geographies across the globe. Let me read that one more time. Our expansion into Canada is another step in proactively working with crypto regulators in different geographies across the globe. I hate to say it, but that's what adults do. They have to work with the powers that be. I don't care if you have to trojan horse it, but however you have to do to actually grow. Sometimes you got to kiss a couple frogs to get that Prince. And that's exactly what we have. Speaking of Prince BlockFi, liquidated three arrows capital. CEO Zach Prince tweeted at the leader crypto leader lender exercise our best judgment. Crypto lender BlockFi from Thursday recently with a large client amid reports that troubled crypto hedge fund three arrows capital failed to meet margin calls. You are going to hear about these guys the next six months. We exercise our best business judgments because they failed to meet its obligation on an over collateralized margin loan. CEO Zach Prince tweeted we fully accelerated the loan and fully liquidated or hedge all the associated collateral. That's what you got to do. If you want to save your community, sometimes you have to make the hard choices. I'm sure those guys weren't too happy, but it's what had to be done. That's it. So look, that's what's going on today. Also, I forgot to mention, sorry, we're doing DCA on Ben's channel over to the end of the crypto verse. I don't know what time it is. Hopefully it's after the live stream so I can watch the Celsius. Alex Machinsky thing go through, but follow or follow us over there on Ben. Great channel, got a great website app in the crypto verse link in the description, not an affiliate link just so you know, that's it. So that's all I got. That is the news. That is the conclusion. If you can stick around for a couple of Q&A, I'll answer all your burning questions and then we'll hop on over to Celsius and see what they got going on. And that's it. Thanks so much.