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⚠️⚠️⚠️ #ftx #crypto #takeover ⚠️⚠️⚠️
FTX implosion, Bitcoin, crypto, Binance, etc.
📝Contact Information for Kevin & Liability Disclaimer: http://meetkevin.com/disclaimer
This is not a solicitation or financial advice. See the PPM at https://Househack.com for more on HouseHack.
Videos are not financial advice.
⚠️⚠️⚠️ #ftx #crypto #takeover ⚠️⚠️⚠️
FTX implosion, Bitcoin, crypto, Binance, etc.
📝Contact Information for Kevin & Liability Disclaimer: http://meetkevin.com/disclaimer
This is not a solicitation or financial advice. See the PPM at https://Househack.com for more on HouseHack.
Videos are not financial advice.
Holy smokes, this is insane. Okay, last year I mentioned when it came to cryptocurrency, the biggest concern I had is that there is no Jerome Powell The only person who's like Jerome Powell in cryptocurrency is Sam Bankman Freed, the owner of FDX Hammond and Binance. Okay, and my biggest concern was what happens if those people run out of money because if they run out of money, you don't have a J-pow to come bail you out anymore. Remember when uh, the stable coins started collapsing after the Terra Luna disaster because of the three arrows Capital Uh, absolute disaster which wiped out up to 18 billion dollars of value from three arrows Capital right away, which led to essentially the bankruptcy of Voyager Digital, the collapse of the Terra Luna uh currency? Yeah, of course. And then of course we saw Block Fi go down with them. Uh, what happened after that? We saw a lot of bailouts in the industry Sam Bankman Freed came in and said, oh, I'll consider buying a Block Fi I'll throw money at the problem no problem Sam Begman Freed goes around buys uh, stock and Robin Hood as well. And so all of a sudden we're like, hey, we've got to pop a Powell Let's sandbagment free. But Sandbagment Free doesn't have what? Powell has a money printer. money. Printers make the world go around because you have an infinite opportunity to bail things out. Well, unfortunately, what happened after there were rumors and speculation that FTX was running out of money. Take a look at this tweet. This is absolutely insane. Look at this Binance this afternoon. FTX asked for our help. There is a significant liquidity crunch to protect users. We signed a non-binding letter of intent intending to fully acquire Ftx.com and help cover the liquidity crunch. We will be conducting full due diligence in the coming days. Okay, so a letter of intent does not mean Binance has to bail out FTX But we just with like what we're witnessing right now is really crazy because Sam Bankman Freed was the guy everybody looked at is like he's the rich guy who can help bail anything out in the crypto universe. And that one concern I had though probably at this point about a year ago is what happens when the Jerome Powells of the crypto world run out of money. You get collapses and liquidity crunches and it's literally happening now before our eyes. This is a historic moment because this now means the only Powell left is Binance. That's it. That's the last leg standing of the crypto. Market which is pretty insane. I mean I know you've got like Crypto.com and some of the like Coinbase and so on. Uh, Coinbase. At least we can look at the financial stuff right. but Finance is now the big player in the room that actually has, uh, allegedly plenty of liquidity available. though. you know, understanding their financials and actually getting their financials is a little bit tougher than a publicly traded company like Coinbase, but this is interesting. Let's get some more updates on this. So uh, Sandbankment Freed Uh, tweeted this morning that things have come full circle. FDX is um, uh, is is where they've come to an agreement on a strategic transaction with Binance for the acquisition of FTX pending due diligence. We do have some more comments on this: Sam Bankman Freed says our teams are working on clearing out the withdrawal backlog. Okay, that's that's insane. That means so many people were trying to withdraw their crypto out of uh FTX that uh that they didn't have any money left and so now they have to go to Binance and go. Binance just buy us. We don't have money to support all the withdrawals and you basically have a bank run happening on on FTX and so they're like great. You know we're going bankrupt, we need somebody to just bail us out and now what happens is Binance has to look and go. Okay, well what are you guys worth? Like they might just same bakeman free could go bankrupt. Uh, from this I mean the good news is his. Robin Hood investment is up. But Binance has full control here because Binance has to come in, provide like a line of credit or something, and start letting people take their money out of the platform. But the problem is all of this drama is just going to create even more fear that oh my gosh, what if what if Binance pulls out? That's something you have to consider. What if Binance says hey, um GG Game over? uh, we're uh, you know, good game, well played, and uh, we we do not even want to touch FTX because nobody's left. What's the point of buying it? everybody's left and uh, yeah, we don't. We don't want to just throw money at it for people to withdraw and then and then we lose money, right? Uh, that? that's a potential risk because you have to think about it this way. The money that platforms and and I was talking about this this morning. It's so crazy. This morning in my course member live stream people were asking me about FTX before this news broke. we were in our course member livestream like two hours ago and I'm like the problem with with all of the crypto companies is you do not actually have uh, Finra, uh FDIC and the Federal Reserve coming in and auditing the companies. At least you have public transport currency for banks like JP Morgan or Bank of America or at least we know how leveraged they are. So when stuff starts hitting the band like at Credit Suisse we can see it happening. That's unfortunate about the crypto world is we don't actually have that kind of Regulation This is why I've always said that I Really believe regulation will be good for crypto because it would actually give us the confidence in the institutions. Of course we could just go cold, wallet or uh, you know, and and just don't use any of these Central platforms. You know that all of this really goes back to the idea of uh, not your keys, not your crypto, right? That's something important as well. Uh, but anyway. so Sam Begman Freed says our teams are working on clearing out the withdrawal backlog. This is this is a straight up bank run. This will clear out liquidity crunches. All assets will be covered one to one. This is one of the main reasons we've asked for Binance to come in. may take some time to settle, but the important thing is, customers are protected. Well let me I'm just going to actually just pull up the Tweet stream on screen here. The customers are not protected if Binance pulls out. If Binance pulls out, customers are not protected at all. I mean I Hate to say it because I don't want to contribute to the panic, but the best thing you could do is get your money out of there as soon as freaking possible. Uh uh, you want to be first in line to get your money out. You want to be the first person on a Lifeboat again. I Hate to say it because I I don't want to be like I don't want to contribute to that kind of fear. But the reality is at any point. Uh, you know you could get Binance. That says, we're not, because think about it this way. if if you have 500 million dollars that need to be withdrawn from FTX but uh, FTX has 300 million dollars, then they're upside down, right? You need 500 and you have 300. So Binance has to go. Okay, well if we if we need to process 500 million dollars of withdrawals, but you only have 300 million, we have to basically lose 200 million. Now the benefit to Binance could be fine. Maybe 200 million is worth it if we get all of these customers. But if all the customers leave, then then Binance doesn't benefit. They throw money at potentially buying FTX but then they get an L that? That doesn't make sense. That's not good business. So there is actually a risk that this transaction doesn't happen. and then you have an FTX bankruptcy. which is like a complete disaster. It would have absolutely be a complete disaster. So let's go to this tweet stream here. So let's keep looking at this. Our teams are working on clearing out the withdrawal backlog. Yeah, that's a big problem, but the important thing is customers are protected. Dude, No, they're not like okay what Voyager told us like in the days before the collapse was don't worry, everything's fine. It's like Jim Cramer in 2008 telling us don't take your money out of bear Stearns Everything is fine. Oops. Now do remember that with the Voyager digital collapse in the days before the collapse I said get your money out of stable coins I did that I got all my money out of stable coins. but I actually left about a hundred thousand dollars on the Voyager platform and in the bankruptcy proceedings Voyager is saying we should be able should. This is still not a guarantee, but we should be able to give people their cash back. So if you have cash, you should be able to get 100 of that back through bankruptcy. and I'm like great at least I have hope at getting my 100 of cash back. but if it was in a stable coin, that's worse. So like in my opinion I I look at this I'm like get your money in cash, not the the stable coin version of cash like actual cash. Uh, if if you're on FTX that probably be the first thing I would do is I would convert whatever I had at FDX to cash. So that way if they go into a bankruptcy, at least there's a chance you could get your cash back because you look at the Voyager bankruptcy and that's the way they're handling it. Uh so I Do not believe that customers are protected. A Huge thanks to CZ Binance. Uh, all supporters. Whatever. This is a user-centric development that benefits the entire industry. It's so weird because Sam Bankman Freed used to be Mr Bailout. Now it's easy and Binance creating Global crypto ecosystem blah blah blah blah blah okay I Know there have been Rumors in the media of a conflict between our two exchanges. However, Binance has shown time and time again they are committed to a more decentralized global economy. Binance and CZ have been in the media so much because Binance ain't exactly the straightest Arrow they're a little on the Shady Side Okay, like let me give you an example of Binance. Bloomberg Sent reporters to the Binance office and I I tell you this is like straight out of a movie I Remember this from I Read this probably six six months or so ago. this was a whole report on CZ Uh, you know your Founders over at Binance and reporters would show up to the office and and they'd be like dude, there's there's no one here, they just have like a little facade and then it's like there's no can we go back to Oh no no no no, we're just setting up. We're we're getting this office ready. It's just not ready and there's no one. It's like everything in the in in these the the companies built or a lot of the companies built around crypto. It's like shady. Uh, and Binance has never been an exception. They just happen to have a lot of money for now. But remember when they run out of money, that's when big problems Have it. it's it's weird. It's just really weird. Uh, so note Ftx.us and Binance.us two separate companies are not currently impacted by this. Ftx's withdrawals are live. So all right. So this is so wild You've got. Um, that's actually really interesting because you have FTX Us and then Ftx.com Let me let's understand the difference here because one I think is international and then one is just us, right? So this is the US One Uh, Click here to view Ftx.com which is read only for us persons, right? So for the United States you've got FTX Us and so what what? They're basically What he's trying to say is we don't know if FTX Us has liquidity problems, but but what's going to happen and this is. the thing is, even if FTX Us does not have liquidity problems and it's just the international Wing that uh, which is Ftx.com which I don't even think I can go to Ftx.com it keeps redirecting. Let me click here. click here to view Ftx.com There we go. it's slowly loading. Okay, so if FT there we go. If Ftx.com is the one with liquidity problems, what's going to happen is all this media drama will likely in my opinion, flow over to the US version and you're going to see so much panic at the US version that you probably could start seeing liquidity problems at the FTX Us version as well. That's something to keep in mind. So let's let's divide this and make this very clear. You've got FTX the non-us version which is Ftx.com and then you have FTX Us which is the US version. The non-us version has the big problems right now. The non-us version is the one that is looking to get acquired by Binance. the US version. They say everything is fine but when everybody hears about FTX liquidity crises and withdrawal limitations I think you create panic in the US version I mean if I if I had money on FTX I'd be like actually I do think I have a little bit of money on it takes uh I I'd be like I'm gonna move that to cash right now uh uh personally because I I do think if you have liquidity issues on one, you're going to create at the very least that fear that this could be coming to the U.S one that leads to a substantial increase in withdrawal requests over at the U.S one. What happens when you have withdrawal requests at the US one, you face potentially the same uh liquidity crunch. Now they do say that FTX Us is a U.S licensed cryptocurrency exchange. That's great, but we've also seen companies like Block Fi and Voyager which Voyager is Canadian have, but they still had U.S licenses in some areas. I think with the exception of parts of New York uh, I believe that I double check that about Voyager but either way it didn't spare them from problems. This is a very interesting crisis and uh, this is uh, this is uh, uh, Well, the good news is this video is brought to you by Stream Yard which lets me put up awesome. Uh, awesome comments on screen like this one by Edgar powered by YOLO Uh so go check out Metcaven.com Stream Yard to learn more about multi-streaming You could stream different platforms, record HD videos on the stream, which you can download and cut up and post to whatever you want. Really great for Content creation Anyway, Uh, let's see if we can get some more info here. So this we're going to jump on over to Zerohedge. There's a lot to cover and this will take some time. This is a Highly Dynamic situation and we're assessing the situation in real time. Binance has the discretion to pull out from the deal at any time. Uh, we expect volatility in the coming days. Well, yeah, no kidding. Bitcoin Saw a little bit of a relief rally and this is how you acquire your biggest competitor overnight after nearly bankrupting them. Um, this is so crazy. FTX Bank Run Counter Look at this: 48-hour netflows. Oh, 687 million in 48 hours. one week flow nearly a billion dollars and all of this happens after because yesterday just yesterday Sam Bankman Freed's like, oh, it's all fake news yesterday. Uh, he says the rumors are false here. FTX is fine, assets are fine. A competitor is trying to go after us with false rumors FTX has enough to cover all client Holdings That said, at the same time as Sambangman, Freed says everything's fake news and then the very next day, oh yeah, we're getting bought out. Wow, this is remarkable I mean this. This is really also kind of scary. Not just remarkable, but it's scary. Let's uh, let's listen in for a moment to CNBC it looks like they're covering this as well. Uh, which you would expect. Let's take a listen on one of your biggest Rivals and then offer to buy them at a discount. Does that make you uneasy about covering the space overall? Well, um, it. it definitely. I mean it certainly is. You know we're a volatile and risky environment that's for sure. Um, very unpredictable in that way. It takes a strong stomach to be focused in this space. It's also a reason why I Personally like to and focus a lot on the businesses that are really focused on the infrastructure aspects of crypto More? Yeah, right. it was boring. Uh, so it's no surprise. Um, here's Bitcoin you could see on the day chart. we had a nice little drop this morning here, but we've actually recovered quite substantially. Yeah, take a look at this. We were down at about 19-2 on BTC this morning. Nice relief rally here on on. Basically the news that Binance could be coming in to bail out. Uh, FTX Uh, the international version. But again, those those issues in my opinion are likely to spread to the United States version as well. Though that does not appear to be an issue right now. I Expect that to come. You have this really scary element of shaken confidence in in any kind of centralized crypto platform right now and again. There is no Jerome Powell Right now. The last draw like we thought. Sam Bankman Freed was the Jerome Powell of Crypto. He was the guy. the guy on the right. He was the guy who's going to come out, come in and bail everyone out. Now it's the Shady guy on the left who's bailing everyone out. Well, what happens when he runs out of money? Or what happens when Binance faces a liquidity crisis That's crazy to think about. And it could happen because that was one of the things we talked about a year ago when we were talking about the dangers of stable coins. It's not just the dangers of stable coins, it what. It's what happens when the only drone Powells run out of money because they will run out of money because they don't have money printers. One of them just did today and that's that's scary. It's groundbreaking. This is, uh, this is a big old shocker and uh, and you've got one J-pal basically left in the crypto Market That's insane. Do I trust Finance after what I've studied about Binance? No. I don't trust Finance I Would not put my money in Binance? Uh, I I don't trust them at all I actually had more way more faith in Sam Bankman free I Thought their operations were more transparent, but they couldn't even survive a liquidity crisis I Don't trust the guy on the left as far as I could throw them and that's not very far. I'm not very strong. um I mean look. Bottom line: I Not your keys, not your crypto. Always remember that. Good luck everyone.!
This is a perfect example of why people should seek professional help when it comes to finances. This fool was promoting this company a year ago.
Crypto has been nothing but vapor since it's invention. It's like magic beans without a stalk.
AMC68T must be trash to have bots advertise all the time!
Kevin your comment section is full of bot: either do something about it or turnoff comments. 😒
And where does binance get its funding?
Damn RIGHT on this! If binance rescue FTX, or any crypto exchanges gradually, and if 1 day CCP arrest CZ on some allegations, CCP OWN ALL THE CRYPTOS… hehe
Not sponsored by FTX any more?
Not your keys not your coins. Let this be a lesson to SBF. When you play with the devil to advance your own bags eventually you’ll get burned. This was a Ninja ruthless move by Binance.
sbf was crypto superman in july.
wtf!??
wtf!
put your Bitcoin (not crypto) on cold storage… and guess what YOU can't be insolvent.. you're welcome
<Its still just bouncing around between a rising support and resistance might get to 21k again. but still on track to hit at least 13k by end of year (maybe January) possibly going to 8k to 10k but then back into the next bull cycle.
If you want to make 300% return profit on any trades then come to my bio.
Regulation would make crypto worthless because everybody would see there is no money backing up anything
How do you feel about staking ADA?
If you convert to usd then you pay tax, no? If you stay with a stable coin then there's no capital gains right?
to those haters, if you were a youtuber and FTX wanna do a sponsored video on your platform, would you reject? Come on be honest.
Why am I not seeing this video on your channel but it’s still available under my notifications?
I have learned in recent months is to remain calm, especially when it comes to investments in cryptocurrencies. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses. The market is very unstable and you can not tell if it's going bearish or bullish. While myself and others are trading without fear of making a loss others are being patient for the price to skyrocket, i would say trading has been going smoothly for me i started with 2.5 BTC and i have accumulated over 11.6 BTC in just one month with the trading strategy given to me by expert trader Alex Scoralick.
Buy gold and silver why you still can. The greatest wealth transfer in history, is about to happen. And the only way to keep your wealths value is keeping it in physical gold and silver. When the fiat currencies crash all simultaneously the major investments firms and wealthy with run to the exits and buy gold/silver. But there’s not enough to exchange from American dollars or any dollars to silver. Protect your wealth. The communist are currently transforming our world right in front of our eyes.
This guy kept recommending FTX and now look at this. Lol
I think you miss the point . Binance HAS to bail out FTX. Why, because if they do not and they do not restore confidence then they will get the spillover and questions about who is next will run rampant and the withdrawals will hit Binance.
These corrupt business models with lack of transparency in accounting is classic sauce for rumour mill and undermining techniques….which were used in the old school days of Wall St in the 30's.
Financial journalists are easy conduits and the key means of undermining. I think it is highly likely that Binance was the source of the undermining and to trigger withdrawals at FTX….personally.
Kill or be killed. 💀
So where is the fucking missing $200m…..in your example.
In the pockets of FTX executives…..will Binances DD go that far or are Binance up to the same shit, but have not been caught out yet 😒😕
In my opinion if our government gather want to see investors to file their money into stock market to help our economy instead of cryptos, the government always have ways to make cryptos crash or destroy the crypto world.
As an investor in crypto, I only put 1% of my portfolio at risk.. and that is when I am very bullish.
Binance runs by a Chinese and ftx by a Jew..2 crook nations haha