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FTX was the second largest CRYPTO Currency Exchange and is now in Chapter BANKRUPTCY with over 1 Million Creditors. The failure of FTX has caused CONTAGION in the sector. BLOCKFI is now reported to also be BANKRUPT & GEMINI is experiencing a run on its assets. In this video I provide more details on the FTX situation, look at the risks to the Crypto markets and discuss whether this could be a BLACK SWAN Event that causes another GLOBAL FINANCIAL CRISIS.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
3:22 FTX
9:05 FTT TOKENS
13:43 PROPRIETARY TOKENS
15:30 BLOCKFI
16:54 FUNDRAISING & VALUATION
21:35 BLOCKFI FUNDRAISING
22:41 CASH FLOW
25:00 CONTAGION
27:49 SUMMARY & CONCLUSION
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds
42 Comments
Kamikoto has several special offers going on right now and is offering my viewers an extra USD50 off on any purchase with discount code JOEBLOGS. Go to to https://kamikoto.com/JOEBLOGS to get your Kamikoto Japanese steel knives today 😁
all Crypto is Fraud, they produce nothing, they all just steal other fools cash and run away with the cash.
you should do some colabs for sure
Well done, I have been warning friends that crypto is not an asset class it's a gambling platform. It's good to see some sanity in reporting in the space. Blessings
What happened to "crypto"? Ask the Dutch, LOL.
Crypto is a scam dependent on hype to maintain a false value … always has been. The moment new investors no longer want to join the whole thing will collapse.
The knife add… love it mate! Came out of nowhere 😂🔪
Give me your petrodallor and I will give you a non traceable coin. This way you can move and launder large amounts of cash. Oh by the way, after the pyramid scheme comes to an end, it crashes rather rapidly. 20,000 different crypto currencies out there. DAYEM that is some scarce shyte.
My goodness Joe, you look amazing, l can't quite put my finger on what's making my heart beat faster! but. WOW ! 👄 do it again l, keep having to rewind as I'm not absorbing this as well as usual,
Planned implosion. Both Gary Gensler and Ken Griffen are involved. Their objective was to corner or destroy the crypto market, in pursuit of installing a digital dollar in America, after they crash the economy.
Ther plan is to issue new government spending or stimulus in digital dollars exclusively, which will give the elites complete control over everybody and everything.
Welcome to "Grifting 101": A "thing" is only worth what people are willing to pay for it. These "Crypto Kiddies" were/are cross investing/loaning to each other using "Crypto Investor" funds A BIG NO-NO even tho they said they don't do that. All it takes is for ONE somewhat major player to get its rug pulled BY ANOTHER RIVAL PLAYER (Binance) and the rest follow suit. "Yield Farming" Doesn't Work For Very Long. Eventually they'll ALL get bitten in the ass but the "Investors" take the devastating hit.
I've never heard a compelling argument that cryptocurrency is better than normal people money. It's digital beanie babies but with enough techno jargon to convince your average joe it might be the real deal.
Never trusted crypto. Seems like a scam and guess what? Track the money…
Anything to do with crypto-currency? A Ponzi scheme? Smoke and mirrors? Vapor Money? I am shocked! Shocked I say!
You really had to tell us 32 billion is 32 thousand million. Who do you think your audience is exactly?
Bad money chasing bad money. This obvious Ponzi scheme has not only cost the million creditors but also all of those invested in the crypto market. SBF and his minions need to have the book thrown at them and made an example of. This kind of greedy behavior is what causes global financial collapses and prevalent in all financial organizations.
I left my role as a financial futures broker over 20 years ago as I was not willing to participate in these kind of practices. My former bosses wanted me to front run client orders in collusion with the bond desk. My clients, the ones I acquired, were top end pension funds. This was unethical and I refused to be a part of it. I had a non disclosure clause in my contract and unable to whistleblow in a matter that was in the planning but not yet perpetrated as a crime. However a few years after the fact I was free of any disclosure and mentioned my concerns to a former client. 6 months later both of my bosses and a few guys from the bond desk were charged with fraud and imprisoned accordingly. Just some guys baking money off of the back of a few million pensioniers.
Out-fkn-rageous
< I love the grounded reality of this channel, its normal to see so many investors panic amid a worsening bearish market but it is also important to note that the market situation is nothing new in the crypto world. Several factors are driving negative sentiment in the stock and crypto markets right now including inflation, a shaky stock market, rising interest rates, and recession fears. As a result, bitcoin has dropped significantly from its all-time high, breaking below several key technical levels. As a crypto investor, the current situation might seem bleak. However, there are several tried and tested expert-suggested investment strategies that can help you accumulate the current crypto storm in few weeks of implementing trading with accurate signals from a renowned trader Barton L William I have been able to accumulate over 9.5btc despite the current state of the market.
Deep pocket investors are a very savvy lot. Cagey too. They fund these companies with their eyes wide open and for their own reasons. (Here is where I start attributing sinister motives.) You say things are starting to come to light. I agree. Aspersions have been made about DoD money beinng laundered through eastern European nations and kicked back to US politicians. Seems doubtful anything will be proved. Nobody will be jailed. Our young entrepreneur will be disappeared soon. JMO.
TLDR Lots of people lost real money because they bought themselves into a fantasy money ponzi scheme
wow, no checks and no rapid screenshots! still good…
Generations from now people will look back on this fiasco and wonder how anyone could fall for something like cryptocurencies. This makes the Dutch 1637 tulip bubble seem not so stupid.
I used to put a penny on the railroad track and it was flattened after the train passed. I could take it to the bank and it was still worth a penny. It wasn't worth twice as much tho because it was twice as big.
This is all virtual and has never been worth investing in like NFTs.
how is this a black swan event? anyone in their right mind knew that this is going to crash once inflation starts rising and with that interest rates. if this is surprising to anyone, please do not invest, you haven't a clue.
Your explanation is realistic and straight to the point. On the other hand there are many ways of manipulating the market, I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understanding of how to analyze the digital market , all that changed when i encountered ( Barton L William ) strategy. more emphasis should be put into day trading as it Is less affected by the unpredictable nature of the market.
I'm not a financial person and your video has my mind swimming attempting to understand your explanation. If I may present an analogy? If I give $100 dollar bill to you, and say give me $1000 in "bit coins", then the value of "bit coins" goes down, I've just lost my initial $100 investment? I don't know if I understand this correctly… Basically, "bit coins" by not having a specific value backed up as say the USA dollar, is make believe money? In other words, "If you can't afford to lose your investment, don't invest". This sounds like buying "Monopoly" money in exchange for real money. It's nothing more than an expensive game or a scam. Good video and thank you.
Did i just see Joe try to sell me a set of knives?!??? 😂
As more coins go to zero, this will snowball into an avalanche.
summary should be: If you cannot touch, it is worthless. It is like the games industry has gone digital – what would happen if steam went bankruptcy you would not be able to access your games, same happened with all the digital film keys, most of them shutdown and if you relied on the digital version because you kids use the physical media a drinks coasters you have lost your purchase.
FTX does all its business in the Carribean to hide its money. How does a company outside of US get bankruptcy protection?
I felt bad for Madoff's victims, but for crypto fraud? Ha ha!
It’s how the Democrats laundered money!
Looking classy Joe!
Great again News!
"Poor" crypto "$ales" people!!
They are all "Innocent" and they didn't plan any Black 🐸Swan Event!!! They are All INNOCENT 🥳 POOR guys, Not Responsible for anything 😎 We should Support Them All Fund their Losses 😎
There is one thing that causes these financial problems. It is called GREED. Regards, Jim in NI
What are the physical Bitcoins made of? I have never seen or held one but they look like simple diecast tokens that would be very easy and cheap to counterfeit. Over the last ten years or so I've read what I can online and find mostly market oriented propaganda. Most was superficial and tended to leave out a lot of information.
Now I tend to think Crypto, including Bitcoin, is a mega fraud designed to undermine legitimate currencies and even whole economies.
If money is the "root of all evil", a phrase i don't really believe, then crypto was an even bigger evil designed to destroy it. But that leaves what in its place?
So governments support duff finance banks, and banks support duff governments ?
But Joe Blogs pays for it, all the time ? What a farce.
Nice knives 🙂
Its kind of hard to call it a black swan event when millions of people have been trying to warn investors that crypto was a scam from the start. If anything im shocked that it took this long and this much disruption for things to fall apart.
Another great vid and analysis. Well done.
Well done!
Crapto Currency is fascinating. It's amazing that people are actually surprised that imaginary money is worthless.