MASSIVE CRYPTO NEWS UPDATES! – May 1st, 2024 (Bitcoin, Ethereum, & Much More Cryptocurrency News 4k)

MASSIVE CRYPTO NEWS UPDATES! – May 1st, 2024 (Bitcoin, Ethereum, & Much More Cryptocurrency News 4k)

[Music] hello everyone and welcome back into cryptos news it’s me Omar bam AKA crypto here to give you the latest Deets about the crypto streets tell you about what’s going on catch you guys up and it’s been about a couple of weeks I did a day be a video the day before the hav came out and it has continued to be quite the havening hasn’t it yeah a lot of people lamenting the prices dipping I think they have been haven’t been around for very long and through various Cycles to see that this is normal this kind of downward volatility if we want that Rocket Fuel we have to give some up so we’re going to explore that and a lot of news that has gone down over the last two weeks that you guys need to stay on top of so thank you very much for joining me I invite you to hit that like button if you do app appreciate this kind of content and subscribe if you’re new share the videos it would be a big help for the video guys so let’s go ahead and get started here by looking at the prices we have Bitcoin down 99.9% about 10% over the last 7 Days currently at $57,900 th000 but most are seeing is what most are saying and seeing is that $50,000 is a more crucial psychological and even orderbook trading level so we’re probably gonna have to dip a little bit lower to see if we’re going to be breaking that and heading down it’s a $40,000 region real Goblin Town down down to Goblin Town so far we haven’t really seen it seems like a rather normal correction not any terrible news in fact there’s some like actually maybe even you could say good news here in relation to rates coming in we’re going to talk about that happened today but yeah I’m not really like freaking out just yet if anything this is a nice dip during the Market ethereum $2,966 180 just south of $3,000 at 5.6% down over the last seven days we’ll see if the bleeding comes down surprisingly it hasn’t been stifled too much uh despite some of the comments that we heard today but before we get into that and talk about the Fred the FED let’s make sure we uh commemorate this now becoming classic video has started popping up on the cryptocurrency social media sit so uh you’re entire network is in this man’s hands damn like I’ve seen V vitalic at different conferences in the past but I’ve never seen him doing one of these crazy moves it’s pretty epic not going to lie anyway he’s not down about this so why should you be but anyway let’s look at what the Federal Reserve had to say so for the most part there was not much change in the language as to whether they’re going to be raising pausing or lowering rates except for hearing about how inflation Still Remains quite high so they’re not going to be lowering rates just yet in fact they need to stay elevated somewhat at this level though they’re going to be offloading some other Securities Holdings and limits over at the Federal Reserve uh but interesting note here the Bitcoin magazine took from the comments today by Federal Reserve chairman Powell he said an unexpected weakening in the labor market could warrant a rate cut so it looks like perhaps they’re expecting the labor market to weaken before inflation comes down and this might be a signal that they could lower rates some are some uh commentators are speculating it might not happen however until like December there have been many that are expecting interest rates to begin going down between well not now not anymore now since nothing happened today but really between next month and June but more and more I think some of these expectations of lowered rates are getting pushed back towards the latter half of this year so not too many changes there right now uh but it’s also a sign that the FED is downplaying some of their Hawk hawkishness some are actually expecting that they might be raising rates and continue to do that but now we’ve gotten a little more validation here that that is not in the card right now and doesn’t seem to be what the FED wants to do they’re pretty happy at the levels that they’re at despite inflation not really coming down and being stronger especially over recent months than they had expected yeah whatever man inflation is going to be on an uptrend it’s just a natural way of how the monetary Reserve System Works especially since during covid they completely changed the rules see many times people have like a vague understanding they still think that you deposit money in the bank and 10% of that is being left at the bank and then loan out like nine times what you put in but they have some of your money at the bank that is not the case there are 0% capital reserve requirements now at bank so they can basically continue to issue out loans and print money willy-nilly that to me that to me is the biggest problem right now that we have and I think like the real inflation that’s being created through a lot of this will not be readily apparent and will become more apparent over time and I think this will ultimately eek its way over into cryptocur currencies and things that are seen as a hedge especially some of the more trusted ones like namely Bitcoin at this time people who have been in crypto according to this very popular post today on the cryptocurrency subreddit for more than one cycle probably saw this drop coming from a mile away it was textbooks cryp textbook crypto volatility they also probably are not worried about this dip and maybe even relieved to see it so far everything continues to play out like clockwork this is Bitcoin being classic Bitcoin we always see these big drops even during a bull run and after steep volatile rallies you get equally volatile Corrections it would have been really weird if after the 166% rally we just had it would only do a 16% correction to somewhere above 60% so then they show this chart here and this is during the 2017 Bull Run The Happening happened here in the summer around 2016 when I started this show and then it was up but we had a huge crash look at that 38% right there then it went up 138 % over this period in green the first green period then it dropped 38% again then 106% up then down 33% 21% up down 38% then down 36% after the next climb then down 29% overall if you held down through this period and did you didn’t have the weak hands you ended up out quite ahead despite these huge drops but you kind of have to learn how to stomach those you have to learn how to just I guess be meditative and let them pass and just let time pass so you can eek out those regains those gains really the these paper hands these crypto Market tourists the people who lose the most during these periods they kind of freak out and they forget about it and they miss the whole rally and they’re like what what it should have got more and then they get in at the top and they lose their house I mean we already saw this like recently right before the happening I had already shared some posts about those who are taking out credit card debt people who are uh taking out Equity loans on their house houses to try to buy more Bitcoin or to be Allin Bitcoin and it gets pretty scary when you see these dips and then those loan payments are still coming in and you have to then sell your crypto and you end up paying fees in some cases you might have eak out a small gain but then you have to pay those Capital Tax gains you don’t come out ahead here by not hodling it ends up being very very risky so I I think patience is going to very likely be rewarded here again as it always has been and continue with this post a correction closer to 30% taking us taking us to the low 50ks again we’re actually closer to the higher end of the 50ks we’re closer to 60,000 right now so anyway if we go down to 50ks we’ll be closer to that 30% correction those that we usually see to maybe as much as the high 40ks maybe even below 50k seems like the most typical scenario here and in line with what this market usually does even in a best case scenario you’re looking at at least a 20 to 25% correction and testing something higher in 50ks if you believe the market is too bullish to drop that much lower in a market this volatile not many large Traders are going to get settle are going to just settle for 16% they may not even settle for 20% these greedy Bears they want to start accumulating at the volatility level they are betting on in this market worried about this dip if anything the ogs and oldtimers are a bit relieved about this dip it really proves once again that everything is playing out like clockwork for the time being we got the usual correction after rally and even the cycles and post having dip play out like clockwork this Market is still predic ictable enough and not doing anything too weird so we don’t have to worry about this time it’s different just yet this is yet another another opportunity for whales to steal candy from a child and take money from panicking hands as we drop into the 50ks from people for which this is likely their first R rodeo and may legit think that this is the final drop into a long bare market and this first preh having rally was the final F Mania run laugh out loud yes I kid you not there are actually people who believe that right now that we just saw all of the multipliers just look at the graph of the 2017 bull run this is just the first of these big rallies and Corrections if it does play out anything like that period then it will be the case and this is going to be very emotionally taxing my friends at least if you if this isn’t your first or second or maybe even third Rodeo it definitely would be the case I’m quite chill right now I don’t care if it goes up right now or down right now I I think by the end of the year especially with the fact that we have more time to acrw before interest rates actually go down uh I think that when those interest rates finally begin dropping you’re really going to see this take off in a big way because crypto especially recently more and more has become more and more tied to uh the macroeconomic and political environment so something positive for Ras risk asset will be positive for cryptocurrencies too and I say cryptocurrencies cuz I really do me on all of them people will buy the poop coins right like they will buy the most ridiculous coin that they can can they will literally try to find the most ridiculous coin coming out for the day that they can with the weirdest name and ticker symbol and they don’t look at any the tokenomics at all if the team is funny looking it’s even better in a kind of way and they try to get out before the next greater fool um that is the kind of mentality that sadly does win out a lot in the bull market and we did see like hints of that happening recently as well so uh yeah I mean this is quite crazy uh yeah uh Roger ve so someone who I had hosted on the show show many many times been to his uh to his I’ve just seen him at various events and uh things that he’s hosted himself and always got along quite well with him but it’s not the same of course with the cryptocurrency community uh he was someone who rallied he didn’t create it as people like to say but he rallied around Bitcoin cash in a big way as a way to keep Bitcoin more in line with the traditional goals of being an electronic peer-to-peer your cash system tried to live by that he expatriated the United States when he didn’t agree with a lot of the tax laws and he wanted to be somewhere else to protect his cryptocurrencies he paid folks in crypto we find out through an unsealed charge that was just a release where ba whereby Roger ve of memory dealers Fame of again Bitcoin cash Fame I guess you could say and so much else uh an early investor in cryptocurrency startups maybe the first real big investor in cryptocurrency startups startups it said in some of these reports so at some point he had over 110,000 Bitcoin looks like he he got a lot of these Bitcoin at maybe $32 or less per Bitcoin so recuring them in 2011 accepting it from his company memory dealers and another company that he had as well um and kind of intermingling his own funds as well within there uh buying Bitcoin with company funds buying himself Bitcoin opening accounts here and there and uh he decided to exp expatriate eventually um and when you expatriate according to the law you were supposed to and that basically means if you don’t know just giving up your your US citizen you’re still an American you were born in American he would was born in San Jose was it in California he’s still an American but he’s no longer a citizen however when you do that the day before you’re expatriation you are supposed to have like sold all of your assets and then paid paid the appropriate capital gains taxed for that I believe this applies from what I had read if you have over $2 million in net worth that’s really when these specific kind of rules apply but he kind of fudged the numbers through a lot of this didn’t talk about how much Bitcoin he really had uh and he did not pay the appropriate amount of taxes and so he is currently arrested in Spain and the US is trying to extradite them over to the US for trial proceeding meetings so let actually let me read this uh press release which gives a bit more detail on this man known as Bitcoin Jesus that was his nickname evaded nearly $50 million in taxes an indictment was unsealed yesterday charging Roger verer an early investor in Bitcoins with male fraud tax evasion and filing false tax returns ver was arrested or verer was arrested this weekend in Spain based on the US criminal charges the United States will seek V’s extradition to stand trial in the United States according to indictment ve formerly of Santa Clara my bad I said San Jose Santa Clara California own memory dealers.com Inc and a agil star.com and two companies that sold computer and networking equipment starting in 2011 V allegedly began acquiring Bitcoins for himself and his companies he also allegedly avidly promoted Bitcoins even obtaining the moniker Bitcoin Jesus allegedly like he definitely like promoted Bitcoin like that’s not a crime dude on February 4th 2014 Vier allegedly obtained citizenship in St kits and nevas and shortly thereafter renounced his US citizenship in a process known as expatriation as a result of his expatriation verer allegedly was required under us law to file tax returns that reported capital gains from the constructive sale of his worldwide assets including the Bitcoins and to repare the uh report the fair market value of his assets he was also allegedly required to pay a tax referred to as an exit tax on those capital gains by February 4th 2014 Vier and his companies allegedly owned approximately 131,000 Bitcoins that traded on several large exchanges for around $171 each memory dealers and agile star allegedly held approximately 73,000 of those coins he hired a law firm uh to help him out with all this there was a point there that I believe he had a partner I don’t know if it was in SE kits or in Tokyo he lived in Tokyo for a while uh he did a lot of martial arts and uh he had gifted her about 25,000 Bitcoin except he didn’t really gift it to her he just used that filed a deduction in his tax there’s a lot of U of A paper trail with this with what he said uh and really his Communications with IRS and what he had signed and his reporting and SE and and so much else that they’re coming after him right now it looks like the total loss of the IRS is $48 million so again really something that’s controversial I guess you could say right now in the cryp cryptocurrency space because of what a cont controversial figure he has been over the years especially since the Great blocksize War debates of 2016 20 well I guess 2015 through 2017 when he was a big Pro proponent of uh bigger or variable and dynamic blocks ra rather than keeping block sizes as constricted as they are uh and really trying to get Bitcoin to be more of a uh second layer kind of solution right where people use a lightning Network they don’t touch the main chain as much he didn’t agree with that as well he wanted to keep it available for uh really I guess larger block size keep fees down enable people to use that to buy a cup of coffee it’s really hard to buy a cup a cup of coffee with regular Bitcoin layer one uh Market fees right now versus using something like the lightning Network he actually wrote a book about it it came out what like a month ago and it was called hijacking Bitcoin I haven’t had a chance to read it just yet but I would love to know your thoughts if you guys have dived into hijacking Bitcoin uh here’s some comments uh that I had found on on cryptocurrency bdit subreddit Buffalo brain said it’s one thing to not report the $50 of shitcoins you bought to the IRS it’s another thing to sell $240 Million worth of BTC and think the IRS won’t come after you Roger previously spent some time in jail for selling fireworks on eBay I think he developed a deep hatred for the US government during that time I don’t think he could bring himself to pay those taxes out of spite I used to argue with him on Reddit after the BTC bch Fork after those block uh size debates I never supported bch but wouldn’t wish prison on anyone so I wish him the best um then faap the police weird name said this nowadays sure back then there were absolutely no reporting standards nobody from that era except for Roger even bothered to report anything which is kind of normal because Roger was the only big bitcoiner to have to pay the exit attacks the others simply held and the few who sold made peanuts anyway and the government is going after Roger because he allegedly hasn’t reported in 2013 By 20124 standard despite him hiring people to professionally assess the situation at that current time back then there were no Prof professional market makers we had one exchange Mount Cox which was a repurpose playing card trading website get it like magic the G the Gathering online exchange Mount gck um anyway um liquidity was lower than that of many meme coins nowadays had Roger tried to sell his Bitcoin as he mentioned as was mentioned in the court listener documents had Roger tried to sell his Bitcoin he would have crash the price 90% so it’s insane to ask him to calculate the value of his liquid Holdings at number of coins times a price just because this would be valid today he also did pay exit tax on his Bitcoin he has stated this publicly for many years government is alleging that he allegedly lowered the valuation of his Bitcoin assuming that back then we had the same levels of liquidity which is Bonkers then it’s calculating the amount owed in Bitcoin at today’s prices which is nasty on a level that is difficult to comprehend and also has nothing to do with the word of law the only thing that may have Merit is claiming that some of his Bitcoin belongs to the company and not the person not sure how you’re supposed to prove anything in that regard since once again there were no reporting standards back then technically there could have been an accounting error I.E him sending a wire from his his company to mount Cox and not reporting a dividend in US dollars for the same amount but that’s me giving the IRS a Steelman pass and if that’s the case he probably owes no more than $1 million and should have received a letter letter rather than getting arrested uh yeah super divisive uh this situation right now just because so many people hate him already so it’s hard to find I guess balanced viewpoints I’m here on the BTC subreddit which has for a while been more oh no this is the cryptocurrency subreddit okay never mind all right but it’s nice to see someone at least giving a nod in his Direction cryptocurrency subreddit is known more for shitcoins the BTC subreddit is no more for being more Bitcoin cash positive and the Bitcoin subreddit of course being the Bitcoin maximalist Haven of choice anyway if you’d like to read more about it yourself I highly suggest you check out courtlistener.com you can see the information here to find it the dockets on that and you can actually read the indictment that has been unsealed there it’s quite lengthy so I’m not going to read into it uh too much here but they were able to Cluster addresses to try to figure out how much Bitcoin he had for example it’s quite a a a document here it’s signed by several people uh by the United States Attorney Martin Estrada by assistant United States Attorney Chief Criminal Division Mack e Jenkins by the assistant United States Attorney Chief by the assistant chief of tax division by the trial attorney for the tax that they’re they’re coming after him hardcore um so we will have to see what happens here and if he is going to be extradited um between the between Spain and the US I can’t see it would be very difficult to get him extradited over here for trial but he’s the latest uh I guess you could say scapegoat I don’t know it’s not even the right word the latest one who will be an example for people in the crypto Space by the powers that be I guess you could say h G who has uh actually debated Roger Veer and I’ve mentioned that many times that I was there in arapo with him debating Roger ve and it was just a great like intellectual debate that covered so much history and I think I had even recorded it you might find it on my channel on Library actually they’re called Odyssey now I think I have a link in the description Bel below I’ll check after this video U but if not look up crypto’s news on Odyssey spelled it two e rather than a y at the end and you’ll be able to find an interview between Roger verer and Juan gz that I think is quite Illuminating but anyway even him who’s more of a I guess you could say Bitcoin ma maximalist but he’s definitely one who’s more of a freedom maximalist some people just say that but uh having known Juan for some time definitely more of a freedom maximalist rather than just a Bitcoin maximalist but he uh supported Roger ver here at least with people who are saying yeah good pay your taxes man the comments on this thread are horrifying people cheering the IRS and dunking on verer are going to get it really get it real hard in the Googs there’s nothing good about the news and some people are only showing their true colors the brain rot that is number go up maximalism well said Joel Joel um binance founder Chang Pang Zhao CZ sentenced to four months in prison uh so he is going to be serving longer than what would been the max it looks like the maximum sentence could have been 18 months but because of the scope according to prosecutors and ramifications of cz’s misconduct conduct being massive they suggested that his sentence should reflect a significant harm to US National Security caused by his criminal uh acts so I mean it was it was Bonkers right this guy allowed citizens from Iran like maybe even normal people from Iran to transact over one $1 million $1 million through his exchange because I’m not having stringent strict controls even though again we had very little guidance especially these exchanges right on what to do and op operate things around when binance came out and started getting popular afterwards is really when we started getting more guidance and I guess overregulation and enforcement regulation through enforcement let’s call it so uh it’s obviously not easy easy to scale things up uh and try to figure them out along the way unfortunately he was not able to do that and he is going to be spending four years in prison four years in prison although four months in prison I’m so sorry oh well yeah I guess that’s not too bad I thought I had read four years four months that’s not that bad and it turns out that his he still got family relations of course in binance and he’s going to be paying uh only a fee of $50 million of Pitts compared to the estimated three $33 billion Fortune he had made with binance so once he gets out of jail or P whatever he’s still going to have probably more money than when he went in there so he’s kind of like taking a little bit of a vacation right now I guess you could say he also had written an apology prior to the this sentencing that happened on April 30th he had spoke can uh he apologized for his poor decisions accepted full responsibility for his actions said no excuse for his failure to establish the necessary compliance controls at binance he said he wishes he could change that part of binance’s story under his Direction binance has now implemented the most stringent anti-money laundering controls sadly of any US exchange of any non- US exchange those controls have been in place since 2022 it’s difficult to describe how quickly he wrote We Grew and how chaotic it was to keep binance a float in those early years as we try to keep keep up with the unexpected extreme exponential growth in the end we built a great product which has safeguarded safeguarded all users and their funds at every turn I apologize to everyone he let down employees a greater crypto Community family friends so on in the future oh he talks about his past he came from basically nothing he grew up in an immigrant family with both parents earning close to minimum wage I totally like grew up similarly I have worked every day since I was 14 years old same and keeping a simple lifestyle I was able to pay my own way through college I took no student loans damn you worked hard in college I fell in love with tech he said and tried my hat at multiple failed startups before binance when when those failed I have always returned investor money and made everyone whole I looked at myself and said let me try again I also don’t like to leave issues unresolved that is why I voluntarily surrendered and took responsib responsibility in this case because I want to resolve the issue before this court and try again talks about when he gets out he’s really passionate now about biotech biotech he’d like to help fund small research with the aim of curing diseases once and for all as well as providing medical access to billions in the world using blockchain technologies that seems like such like a 2017 quote though like and I’m not picking on him here but does that not seem like an Ico promise I’d like to help fund small research Labs that are going to cure diseases just all the diseases once for all as well as provide medical access to billions in the world using blockchain yeah anyway that must be a uh speaking for a speaking point from 2017 he might have to uh update a little bit but anyway he I think it’s cool though he’d likeed to combat health issues when he’s out of course um fund those startups a lot of time he had spent on education projects in Africa to improve living standards for the underprivileged Youth in Southeast Asia to univiversity programs in Europe and he intends to spend a significant portion of time and resources in such an area going forward anyway you finish it by saying words cannot explain how deeply I regret my choices that result in me being for the court rest assured that it will never happen again please accept my Assurance that this will be my only encounter with the criminal justice system and that going forward I will live my life in a manner that will make everyone proud you know in a way like him writing this makes me feel like a proud parent like wow I’ve raised a good kid yeah he might have messed up through arbitrary regulations and laws but he’s a good kid at heart look at all these this good he’s done and he apologized right when did we get any apology from bankman freed I’m sorry you know I just didn’t see it when he gets out he wants to be president I’m pretty sure although I think CZ would make quite the politician but it’s a like a humble apology and I wonder how much of it really was taken into consideration before his sentencing and surely there will be an appeal and uh we’ll see how that goes but yeah I guess it’s not too bad four months uh CZ will be the wealthiest person ever to serve time in US US federal prison per business so the wealthiest person to ever spend time in US federal prison um interesting right he uh what does it say here in a court filing before the sentencing before his sentencing hearing on Tuesday they cited the flippant attitude on display and other remarks as one of the reasons they recommend the court give him 3 years in prison longer than what guidelines prescribed following his guilty plea to violate anti-money laundering laws in September he has an estimated $43 billion personal Fortune tied to binance yeah there it is the new board of directors of binance is dominated by his devoted friends and the mother of three of his children so he has still quite a role and uh I guess some sort of direction right like he’s an adviser at the very least for binance from jail they can they can figured out but I think he did a pretty good job in growing that company it’s not easy right the amount of competition oh stop trying to give me viruses what is this the block the block. co so consensus alleges that the SEC considered ether eth to be a security over a year ago so consensus major player when it comes to ethereum and investing in some of the biggest products like metamask the browser wallet uh probably the most popular browser wallet ever to have existed uh so consensus the funders of that um they actually aced metamask they didn’t start it but yeah anyway they still control it they have sued the SEC since they found out that the SEC has been has decided that ethereum is a security since about a year ago in early 2023 on March 28th 2023 specifically Gerber gual director of the division of enforcement of the SEC approved the foral formal order of Investigation in the matter of ethereum 2.0 delegating the SEC staff Brader authority to investigate and subpoena individuals and entities involved in the buying or selling of eth so these orders are asking for all sorts of information related related to ethereum we’re hearing that they had to find uh file non-disclosure disclosure agreements in regards to this investigation in order to get updates on what’s going on with the investigation uh consensus Joe Luben have received metamask over four different subpoenas during this period and likely it’s about this started when ethereum migrated to 2.0 which would move from proof of work much like Bitcoin validating using computing power into instead uh staking mechanism where you put up a stake of eth at risk in order for a chance to validate the network and if you cheat you get slashed you lose eth um but if you do a good job you have a chance of getting some of these rewards kind of similar uh but uh better for the environment you could say others would say that it’s more of a centralizing force since you have more and more who have money staking more and more of that money and getting more of the block rewards and more over time so something extremely controversial that I’ve covered over years and I’m not going to get into right now just to give you a brief overview if you’re not very familiar but um Back in the Day in 2018 there was the sec’s director of the division of Corporation Finance William Hinman and I had covered this on the show back then his speech had shed a little bit more light into what the SEC was thinking he did believe that both Bitcoin and ethereum were not Securities recently we’re seeing more with Gary gendler the new head of the SEC in his administration more of a hostile view toward ethereum specifically and really other coins as well um which is an around face about face from Mr henman’s comments back in the day Henman refused to comment of course on recent developments but this is interesting it would of course make it perhaps more difficult for ethereum to become to to launch some sort of ETF there are eight ETFs right now that are up for decision from the SEC as to whether they are approved or not and um with Bitcoin launching its ETFs it’s been seen that it’s very possible that ethereum ETF could launch as well since ether Bitcoin had a Bitcoin Futures that were trading on major exchanges before that ETF got launched and you are also seeing similarly where there are ethereum Futures out there why did the SEC allow or the cftc or the CF the SEC not challenge the cftc on this when they allowed for eth Futures Trading to start um so where was the discuss the conversation about that um and consensus said the act of staking when it comes to ethereum 2.0 is really just posting a security Bond so you can get paid to contribute labor and resources to help operate the ethereum protocol now they’re trying to turn that into some sort of investment contract to me it’s clear that it’s not the way that we have formalized Securities to be in the past but the SEC is trying to fit all cryptocurrencies into these really data gener ation old laws that exist but this could prove dram uh an obstacle let’s say for these ETFs to launch and for example the SEC has been having meetings with uh those they’ve subpoenad and others and some of the ETFs were trying to get proposed and the ETF folks who are trying to get an ethereum ETF are showing up there have been at least four different meetings with the SEC where basically those who are trying to get these ETFs approved are the ones doing all the talking it’s one-sided according to from what I’m reading here the SEC stands there they don’t give any information on investigations and possible approval they’re just trying to get as much information as it as they can it seems to come after ethereum in some sort of way is seem is what seems to be the picture at this time right now so this is perhaps what’s putting pressure on eth although it seems to be down less like I mentioned over the last 24 hours and the last 7 days then Bitcoin so it’s holding up well but I think if like I would just like to get this over with just deny the damn thing stop with the the suspensions to me that is all like more manipulation if you’re going to file enforcement then just do it uh it seems clear now after consensus has sued the SEC due to them trying to classify eth as a security that that it seems SEC has more malicious attempts here because they say that they don’t want to perhaps manipulate markets by giving this information but it’s already leaked out everywhere at this point so I mean you’re hearing about it here probably not for the first time if you follow cryptocurrency this has been something playing out over the last week and talked about quite a bit but still the price has treated it like nothing it’s just kind of following the overall Market here but it would be problematic if eth was a security and you could you would have to worry every time you send eth that you’re not following the law if you’re an exchange and you have available for trading oops sorry about that and you have it available for trading whether you’re breaking the law and what kind of ramifications you would face so this could grind to a Hal a market cap of almost $400 billion an asset that has a market cap of almost 400 billion dollars 362 uh I’m sorry 362 billion dollar at this time almost 3 or $400 billion doar huge so we’ll see what develops from that that’ll probably take some time to continue to play out sadly and still there are some who are saying that we could see an ETF or ethereum as early as come probably December and perhaps not sooner with some of these developments uh from the SEC uh and of course we’re hearing all the political jargon like we didn’t hear we didn’t see these kinds of attacks when it was Biden who was in office I mean I’m sorry when it was Trump that was in office but now that it’s Biden we really want four more years of this kind of hostility to crypto I don’t know that it’s definitely that cut and clean I think uh both parties kind of agree in certain ways especially some of the uh Financial managing controls right the treasury and the FED who really have a bigger say black rock who have a bigger say here um but I’m just sharing some of the conjecture that is circulating right now but because it’s going to be an election year everything is political turned political so right like this wouldn’t have happened to binance if Trump was in office so on you you know Eminem has replaced the new face of crypto.com he’s replacing Matt Damon I didn’t even know Matt Damon was the face of crypto.com but it goes to show how closely I follow them but Eminem who might attract a new kind of audience a new kind of culture someone who’s been around for a while and he did tweet about that with this ad here you know what it’s always been Marshall Mathers if you don’t know his real name that’s Eminem’s real name they ignored your potential dist your achievements yeah I probably can’t play that copyright reasons and so on but yeah you can check that out for yourself just wanted to give you a heads up we’ll continue here because we still have some more news to get to and I don’t want to get to I don’t want to hold you up as much as possible and waste your time so Black Rock has no commercial relationship with hia h bar syns 32% uh hia the producer of this token called harar and their own hashgraph uh blockchain that is unique in the way that it processes transactions let just let’s just say at least when it launched uh there was a spokesperson or announcement of uh it had said that blockchain firms ARX and onera had tokenized black Rock’s IC US Treasury fund on the hadera blockchain powered by the harar token so the token rallied over 100% on Tuesday following this however Black Rock confirmed that it had no commercial relationship with hyera they said Black Rock has no commercial relationship with hyera nor has Black Rock selected hyera to tokenize any black rock funds this was like basically two companies saying oh we have some shares of like Black Rock treasury stuff let’s let’s tokenize it and then put it up right it’s not like the whole fund a whole huge 22 billion money market fund it’s just some shares from it that they decided to Tinker with and they like had it’s just kind of funny arac CEO so one of those two firms uh gr the CEO Graham rodford had clarified that black rock was aware that ARX was tokenizing shares of the fund with most of the Investments we make we want to tokenize them we told them black rock that we’re going to well we’re going to tokenize them and then just out of the good relationship with them we said hey we’re putting out a press release you guys happened to check it so they checked it and gave their views on it he explained so uh I don’t see what the views are that they said but it’s like like showing up to a wedding and then you’re kind of like alone there like just eating or derves and so on hanging out and then you see like some cute person there and you stand next to them and and like while next to them you’re like hey um this is this is my partner yeah this this hot stuff right here you’re you’re cool with it right you’re cool with you’re cool you’re cool you’re cool yeah that’s basically what happened so no there’s no partnership between Black Rock and hadera and uh the token is still up since the initial 100% climb so I don’t know trade is going to trade uh it looks like square and cash RP are now being investigated according to Ryan Shan Adams he said they’re being investigated for processing crypto transactions linked to sanctions countries and terrorist organizations aren’t we linked to like terrorist organiz have there never been ter terrorists in America I can hear people saying oh a company being investigated they must have done something wrong where there’s smoke there’s fire no update your priors that’s an old Paradigm from a Department of Justice you could trust we’re in a different world this department of justice has been politically co-opted to attack crypto in any way possible laws be damned civil liberties be damned do you trust the Department of Justice after they charged and arrested wallet Developers for unlicensed money transmission just last week they laid out a case to make all non-custodial crypto software a money transmitter such as metamask it’s clear a powerful faction of the US political EST establishment has declared a war on crypto and regulation by criminal enforcement is the new operating manual we must fight back so as the dollar dies and those in power who have been fed by the dollar through all this time uh see it wither they see new competition on the horizon a new M Monopoly board let’s call it that they don’t control since you guys are obviously playing uh Monopoly go on your phones so throwing a reference to that and people decided to instead play on the Bitcoin money board and the ethereum money board and for playing on that board you are breaking the rules I mean that’s pretty much what it seems like um Sam bman freed has turned rat uh cop cooperates in lawsuit versus FTX celebrity backers so in a nutshell he’s trying to come out uh against these different endorsers uh who had worked with FTX different celebrities and trying to help in the investigations against them likely as a way to get more leniency with what’s going on maybe to help his appeal now that he has been sentenced to jail um that’s probably the game here um but once a rat I guess always a rat and people rat it on him he’s ratting on others the great circle continues uh but it looks like he won’t be able to actually help them very much unless he proves that when he communicated or FTS communicated with celebrities those celebrities were very like informed this is risky stuff this is risky cryptocurrency are you sure you want to get involved but it’s unlikely that such discussions took place so I don’t know how much Credence he’s going to in credibility his comments will be having here starting uh on April 30th so yesterday starting today support for the lightning network via Light spark we had discussed this a couple of weeks ago or three weeks ago will begin rolling out on coinbase instant enjoy instant lowcost BTC transfers so uh yeah pretty cool seeing the lightning Network on there I talked about fees earlier and this new model after segwit in 2017 that would basically be great solutions that would help lightning Network operate better and more efficiently at and be the route for more and more people to transfer Bitcoin and pay for coffee for lower fees and that it’s now integrated into coinbase so let me know if you have checked that out for yourself there has been you guys love the dgen stuff I don’t like to talk about the degenerate stuff too much I did way too much of that in 2021 and I it honestly it was like driving me crazy trying to figure out all these D5 projects and staking and reaking but one project that has been the center of attention on social media for cryptocurrency has been the agent layer agent layer the agent token and this is in a nutshell eth that has been staked to get rewards on the ethereum blockchain being used to secure other networks something that some have pointed out is very risky right it’s risky if this gets put up to secure networks that are straight scams or or problematic it could create uh contagion over to the ethereum network as well but people continue to use it make some money doing it doing what they can while they could like many of these other dgen projects and often times they did so because by interacting with these different protocols you get a chance of getting an airdrop so uh when these projects announced a token that’s going to be there for governance or for whatever other reason those users who had interacted with the protocol in the past are oftentimes given some sort of reward along to to team members along with to I don’t know Discord members uh uh to developers so on and so forth and so we got the announcement for the agent token and the airdrop for that and what that’s going to look like and man people do not like that they’re quite upset about it but let’s let’s take a look at this basically they’re going to be giving out only 15% of the tokens of the total 1.67 billion agent tokens only 15% the first season is only going to be 5% of those tokens and those to tokens will initially be non-transferable you cannot move those tokens essentially making the cash award worthless especially if someone if you’re someone who likes to farm airdrops you’re trying to sell that usually as quickly as possible you see that pump when it launches you sell you made your money but if it’s non-transferable and you see that the team the developers everybody else is getting suddenly 85% or whatever it is maybe before you then they’re able to sell that and dump and then you basically made made nothing so this is of course uh creating quite a stink right now the disappointment with this one of probably the most anticipated airdrop to come out recently and it’s really covered well here in this in this fun meme so I’m going to share this with you guys check it out for Fore fore foreign speech do [Applause] I am looking at the chat I’m reading it now I’m sorry about that guys I just know it was going to be a long video we’re probably already getting long into it right now uh and I’m gonna have to start this over I’m sorry about that but I want to make sure you guys check it out it’s pretty comical and it’s great all the way through and unfortunately if you’re driving and you can’t read it check it out later come back to the video I’m not going to read it out loud because I think uh it would kind of ruin it and plus I don’t know that I can speak over his voice and his laughter is hilarious but yeah no I’m checking out the chat I’m sorry if I didn’t I’ll try to pay more attention to the chat next time and yeah Raj you move you moved to uh Spain you’re in Bangkok right now but you you moved to Spain and now after what’s happening with verer you’re concerned because of you should have known from what happened to John McAfee in Spain um damn dude yeah uh they’re not one of the better place I mean yeah a lot of people did move to Spain Portugal places like that but but some places protect you more than others at the end of the day the US government is the biggest gang in the world though son they going to find you you know that’s a gang [Music] speech [Applause] foreign spee foreign foreign speee [Music] [Applause] [Laughter] [Applause] so yeah just to quickly remark on that they Geo blocked it whereby if you try to go claim uh all of a sudden you can’t and that was not the case while people were able to stake some of these staked eth onto the platform uh and now they have locked eth in there as well and for what right why take that risk they were supposed to be rewarded for the risk for helping that this protocol to grow and now it’s like such a slap in the face and if you use a VPN you can’t even access the site so like I said it would be funny if people are trying to straight up take a flight somewhere else and try in order to try to access the site even though you’re not allowed to in your jurisdiction it turns out the token’s still non-transferable [Applause] bro my foree spee spee [Laughter] [Applause] [Applause] foreign speech [Laughter] [Music] foreign [Laughter] [Applause] foree [Laughter] spee [Laughter] spee foree [Laughter] [Music] [Laughter] I don’t think there’s much more to say on that one I’m sorry if you’re uh having issues because of this airdrop and it didn’t work out for you but I like inherently see these things as extremely risky and if I’m going to be putting this out there for folks I I know I don’t recommend it but some folks do like make moves based on what they hear on the show if I had spoken about this before before in some sort of way you might have people going in there and risking funds and I’ve seen it too many times in the past and if I wouldn’t put my money into and I didn’t then why would I recommend somebody else do it or cover it in much detail like I don’t know we’ll finish with our quote of the day challenges are what make life interesting and overcoming them is what makes life meaningful by Joshua J Marine so thank you guys so much it’s great to see some of you guys who’ve been around for a long time as always thanks for showing up Raj thanks Jack Knight for letting me know when I’m showing the wrong screen still getting all these technical issues but that was totally my bad uh and I will continue to try to get the video get good for you guys I hope you all take care and I’ll catch you for the next update hopefully it’s not as crammed with uh such like I guess negative views let’s call let’s make it more fun for the next time hopefully take care guys peace oh [Music]

🚩 Remember to subscribe and hit the bell “🔔” icon, so you don’t miss your daily cryptocurrency news!

Thanks for watching!__________________________________________________________
►Become a Producer for only 5$! – https://patreon.com/crypt0snews
►Tip me on PayPal: crypt0@crypt0snews.com
►Tip me on Ethereum: 0x858623588246756b4796657961b1818CDa73b1b6
►Tip some Monero: 463EDu2cqU4ASxLVVKYkVMbk1Nz6TQyy9Wt8b3D5CdJjZh9JukZNGUyLvbJnXoJNRXTN98cSpLSRVN2bYoDTmsxkJSUKtmy

►MUST HAVE HARDWARE WALLET FOR YOUR CRYPTO:
Ledger – https://shop.ledger.com/?r=77f9

► Official Site
http://www.crypt0snews.com
► Odysee – https://odysee.com/@Crypt0:f?&sunset=lbrytv
► Reddit – https://www.reddit.com/r/crypt0snews/
► Facebook Group – https://bit.ly/2FSR5gb
► Twitter – https://twitter.com/crypt0snews

#cryptocurrency #bitcoin #ethereum #cryptocurrency #cryptonews #live #crypto