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⚠️⚠️⚠️ #crypto #binance #ftx ⚠️⚠️⚠️
Deal cancellation possible - CoinDesk
📝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.
⚠️⚠️⚠️ #crypto #binance #ftx ⚠️⚠️⚠️
Deal cancellation possible - CoinDesk
📝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.
Oh man, the drama drama drama continues. Uh BTC sitting at about 17 000 right now. very important level. If we break this level, things could get ugly and there's the possibility of Binance canceling on FTX. Let's talk about this: I Just want to give a very clear uh, upfront warning that the FTX near bankruptcy affects the international version of FTX the US version is supposedly okay personally. I don't buy it if I or having any money right? any money in FTX I don't want to contribute to a bank run here. but let's just say I wouldn't keep any money in it. Okay I'd be like not let me take my money out. They got it all figured out. maybe I'll come back. Okay, now look I know on the channel we've talked about FTX before in the past. I'm giving you a fair heads up now just like I did yesterday. Okay, so what's going on? So yesterday CZ who's not exactly uh, you know, got the best reputation for transparency according to that video we made yesterday just watched the last 13 minutes. you'll see a complete breakdown uh of why people believe that CZ doesn't have the best potential reputation for transparency. Yesterday, Binance and owner and founder CZ suggested they have written a letter of intent to acquire FTX and now we're hearing that FTX actually before going to their competitor, Binance actually first went to Okx uh and a SAM bankman freed reached out to them on Monday uh hoping to uh to get uh a deal before having to go to Binance. Well, okay, X declined and now FTX wrote a letter of intent to take over a letter of intent. It lets you open up the books at FTX and go. Oh okay, let's see what's going on here. In yesterday's video on this topic I mentioned that here's what happens if Binance opens up the books and says okay, you guys need to provide 500 million dollars in withdrawals, you only have 300 million dollars. Binance has to look at that and say okay, we'll give you that 200 million but we want your book of business right, We want, we want our all your clients But then you have to evaluate is that 200 million dollars worth the clients are getting and if all the clients are fleeing, then the number of clients you might be getting is actually shrinking so the deal becomes less interesting. And if you open up the books and the numbers are actually way worse and you potentially have to pay billions of dollars because we think outflows are somewhere between three to five billion dollars at this point from Binance and if Binance or if from FTX and if FTX maybe only had 500 million in the books, Binance might look and go. Dude, we're not giving you guys four and a half billion dollars to bail out your customers. Forget that, cancel the deal. Well, now we have reports from Uh, Coindesk that people familiar with the matter are suggesting that Binance is now strongly leaning towards scrapping the FTX bailout. After first glance at the books look, nothing gets better after the first glance of books. this is bad. This is really bad because that that means you know when when the bail the one company doing the bailouts is like yeah, no, you're way too toxic. That's really bad. So and again, personally not trying to create fear I would Just even though this is the FTX international branch, I would get my money out of FTX Us I Understand that could potentially lead to a run uh uh. You know if everybody did that, it would lead to a run on the U.S and a collapse of the U.S business as well. But this is business you have to look out for yourself. Uh, and I Think that would be prudent. But anyway, cryptocurrency exchange, Binance is highly likely highly unlikely to go through with its proposed acquisition of struggling rival FTX Less than a day of reviewing. After less than a day of reviewing the company, a person familiar with the matter said finance's non-binding letter of intent for the Takeover announced Tuesday appeared um, as as Ftx's financial position appeared to be spiraling out of control hinged on Binance performing due diligence. Roughly half a day into that process, after reviewing Ftx's internal data and Loan commitments has led Binance to strongly lean against completing the transaction, Binance declined to comment on the status. so did FTX after Coindesk released the story, losses in the crypto Market uh worsened. BTC visited its 2022 low of around 17 100 which we saw yesterday ether back to 1160. Wow, really did we get that low? Hold on a sec. Let me see here. so I know BTC is sitting at 17-2 right now. let's look at Eth USD weren't they like 1600? Just like a day ago. uh um yes, they literally were. they were at 1600. Now they're under 1200. this is remarkable. Um, that's pretty painful. Uh, all right. So uh, definitely get some pain here now. CZ Did release a letter this morning and what I thought was really interesting is yesterday in my finance video especially sort of my CZ uh expose dare I say uh in that video I Talked about how Binance was talking about this seifu fund which is their insurance bailout fund. Uh, in the event there's any kind of issue with their their customers being able to withdraw funds. uh, that bailout fund was previously estimated to have a billion dollars of uh of assets in it, but those are all B and a lot of those are B and B which is now worth a lot less. And so yesterday we were estimating that there was maybe only about 460 million dollars actually in that account. not anywhere close to a billion dollars since we could see the wallets and so, uh, just a few hours ago, actually 10 hours ago. which is about what maybe eight hours after I posted my video. Uh, Binance's CZ has come out and posted the following to adjust for recent price fluctuations: Binance has topped up the seafood Insurance Fund to one billion dollars again. Now that's interesting because this this uh, uh, Insurance account has been underfunded under a billion dollars for like 10 months of the year. and within 10 hours of me bitching about it in a video, they filled it up again. Now I'm not trying to take credit for that. I'm sure many people were complaining about this I Just think it's interesting that it's like, really, you kind of let it suffer that long all year and and all of a sudden now you top it off okay. but again, it's being topped off with with Bitcoin and BNB and if the value of these collapses, then again, the value of the insurance goes down. Uh, here we've got his letter to uh, uh, you know, basically the Binance staff. He just posted this uh to everyone. Given the events that have transpired over the last couple days I Want to reiterate a few points we did not master plan this or anything related to this. This is because there are rumors that basically Binance purposely tried to bankrupt FTX to get rid of their competition. You've got uh uh uh CZ here saying I had very little knowledge about the internal state of what was going on at FTX until SPF Sandbagment Freed called him send. Bankman Freed, by the way, has not had a had a good day last couple days. Uh, Wall Street Journal has a piece out uh, indicating that his net worth collapsed from 16 billion dollars to potentially under 1 billion dollars. uh, within a day now marking a 94 Wipeout the biggest one-day collapse ever amongst billionaires tracked by Bloomberg Bloomberg index gave a value of just one dollar to FTX and Alameda research and the only reason Sam Bankman Freed might actually have still relatively a close to maybe one billion dollar uh, net worth is because of his investment into Robin Hood Sam Begman Freed invested in a Robin Hood when it was like seven or eight dollars. I think the thing's trading for like 12 bucks now or something and uh, he invested quite a a good chunk of change. uh and uh, yeah. Well actually wow. dude. even Robin Hood just fell. look at this. Robin Hood's down 9.9 today. Never mind. There goes the rest of his net worth. Well, at least it's preserved some of it. I think he bought it like 750 or something like that, but it's at 877 now. Wow. Uh. Sam Bankman Freed Robin Hood investment Let me see, this was somewhere in April Uh, he uh he uh even suggested potentially buying the company he has a 7.6 stake in Robin Hood 56 million shares May 12. 56 million. And if we multiply 56 million shares by 878, he has about oh, that is not even close to what the Wall Street Journal is estimating anymore. If his other businesses are bankrupt, he's only worth about 491 million right now. And that's all thanks to Robinhood Who would have thought that Sam Bankman Freed could thank Vlad Tenev to help him continue to stay rich? Who would have thought? Anyway, Um, wild. let's go back to that letter though and continue to see what CZ is arguing here. which is right here. All right. So as the due diligence for the deal is ongoing I Want to remind everyone: Do Not Trade The FTX tokens. If you have a bag, you have a bag, Do Not Buy Or sell As soon as I finish the call with Sam Bankman Freed yesterday I asked our team to stop selling as an organization so keep this in mind. over the weekend, CZ said we're gonna dump like 500 million coins of the FTX token that was before this collapse and now with his call. after his call with Sam Bankman Freed where, who knows, maybe Sam Bankman Freed is basically begging CZ not to sell Finance tokens or the FTX tokens now. CZ is recommending that if you're losing money on the FTX token, don't worry, just wait. I mean that sounds like a bunch of BS to me, but whatever. Yeah, exactly. only 490 mil? What a peasant? Exactly? Um, how safe are funds with Binance? you know I don't trust Binance I Said this yesterday as well and the problem is if Binance doesn't buy FTX you're going to have massive Liquidations in. Not only is the FTX token going to go to zero, but you're going to see pressure on the Binance token. You're going to see pressure on Bitcoin and Ethereum more than you've already seen. If we break this 17 000 level on BTC, you could see BTC fall lower. In fact, in my video yesterday I put in a little quote of me saying the only thing holding BTC up at around nineteen thousand dollars then is is s uh is FTX same bank but freed and the bailouts like if and I even said if he runs out of money TBD that's what I said if he runs Automotive TBD In other words, like it's probably gonna get bad and that's literally what's happening right now which is kind of scary. So the problem is: Binance says they're good but I don't trust them if BTC drops under ten thousand dollars I Would not be surprised. It's entirely possible. You see CZ take a few bill disappear. Binance collapses. Not saying it's gonna happen I'm not making any guarantees, but let me put it this way: would I move my money from FTX to Binance? Hell no. If I had money in crypto, it would either be cold wallet like not your keys, not your coin, right? not your crypto, I'd have my money out of any kind of centralized exchange or I just wouldn't be in crypto while these, uh, these collapses are happening around because it's going to put downward valuation pressure on on the coins. Uh, I'm sure many of you remember this, but I have regularly been asked about hey, what about um, you know the uh, the potential for uh, Nfts to maintain value right and people were always wondering like Kevin when are you going to get into holding Nfts more long-term I'm like I'm not because here's what happens when you get in this: I've always said this even in the bull run when Nfts were killing it, right? I'm like the problem is, if you go into a recession, the last thing that has liquidity is going to be an Nft and it's going to be the first thing that gets dumped. The same is going to be true for a lot of other assets you have to look at. when companies have to liquidate, they have to dump assets and when liquidity goes down, price plummets even faster. it's really scary. So uh, you know I'm not trying to like fear Monger here. but like I just want to be clear I would not and I said this yesterday too I wouldn't have any money in FTX the Us or International Version and I wouldn't have any money in uh in Binance uh I Also, right before Voyager Digital went bankrupt I made it very clear on the channel. get your money out of stable coins. they're not safe right now and then all of a sudden we get the Terra Luna collapse and everything. It's crazy. uh and I'm not trying to like Pat myself on the back for like oh you know, predicting or whatever. I'm just I'm trying to provide warnings. that's all I'm trying to do. and I'm trying to be even more clear because like when I said cell Peloton at 113 I'm dumping it because things are changing people then later made slander's videos about me going haha look Kevin's investment Peloton went to twenty dollars or ten dollars. it's like I guess you missed all the warnings. so I just want to be even more clear. but then again, people are always going to hate but they just hate us. So okay, what else do we know? Let's go back to that letter. Uh so I again I think this is nonsense. this is just CZ oops this is CZ trying to tell his friend that uh, hey, I'm helping you try to make sure there's liquidity for uh, the finance token by encouraging people not to sell. uh um, okay. U.S Finance Regulators are now investigating whether FTX properly handled customer funds. Yeah, this is going to lead to a lot of Investigations U.S probes FTX over handling of client funds. Uh well, yeah, no kidding. So let me see here. Okay, yeah, So continuing on with the letter. three obviously do not comment on the deal publicly or internally. You know it's kind of funny that like hours after this letter comes out of CZ saying oh, please don't comment on the deal. Somebody comments on the deal to coindesk and and the story leaks right away. duh FTX is FTX Going down is not good for the entire industry. We don't view it as a win for us. User confidence is severely shaken. Regulators will scrutinize exchanges even more. Licenses will be harder to get. Yeah, you're going to end up having a Federal Reserve that has to supervise all this stuff because nobody's going to trust it. Not to mention price swings and insurances blah blah blah. Speaking of prices, ignore the prices. Let's keep our heads down and focus on Building Products People use dude Nobody uses Bitcoin just as an example, right? You don't transact with it. at least not yet. Maybe in the future you go to lightning and stuff. But like, blockchain, technology is so good. But there's still a fundamental disconnect between how much blockchain Technologies actually worth and how much tokens are trading for which obviously have voting ownership in the blockchains. But I I Don't know. Really proud of every one of you blah blah blah blah blah yeah, whatever. Um I Don't know man. I'm glad you guys CZ and Binance I'm glad they topped off uh their uh their Insurance Fund because that was a joke. Uh, yesterday he was pitching how great Seifu is and I'm like, dude, what are you talking about? It's worth a whole lot less than what it used to be. Uh, they're obviously using this as a marketing pitch. Uh, here he is saying he likes being bald basically because it's kind of like a zero and they have zero fees for BTC it's an ad. What? I put money into this right now. Hell no. Like let the cards fall where they may and then if you want to go invest back into crypto, you can do that. Uh oh yeah yeah, what will happen to Voyager they were being bought by FTX I don't know I thought Voyager was going through bankruptcy I didn't know that FTX was a potential Suitor Uh, that's possible though, because through bankruptcy, you could see that, uh, occur customers of bankrupt crypto lender Voyager uh um, oh yeah Voyager to October Oh, that's very interesting. Yeah, uh. FTX was considered one of the potential purchasers for Voyager customers of bankrupt crypto lender Voyage or could recover 72 percent of their funds if FTX sale is approved. Too bad now FTX is going bankrupt. So there goes that. there goes the potential of getting 72 percent of your money back on on Voyager Oops, Nope. Bankruptcy Court Approved an arrangement where Voyager can scrap the FTX deal of a better offer materializes. Yeah right, Fdx's offer would just went away. Oh yeah, yeah, uh yeah. I I am hearing a lot of Solana drama. I Actually don't know much about this. Uh, but um. I'm happy to do some research into Solana and see what's going on. Uh, let's take a look at Coindesk over here. Salana Solana continues its plunge. Okay Monday war on Solana sunk deeper and deeper. Uh, okay. why investors speculated about its paw about its possible place in the ongoing drama around. FTX Okay, a copy of the Alameda balance sheet seen by Coindesk shows that Alameda holds 292 million of unlocked Solana and 863 million of locked Solana and 41 million of Solana collateral. One theory is Alameda might try to dump its Soul tokens in a bid to raise liquidity. Of course. of course, if they're going to go bankrupt and this is true that Alameda holds all the Solana it's all going to get dumped. That's what I said is is when you have these liquidity problems, you're going to see a dumping of whatever assets you could possibly get your hands onto. Uh, this now. Oh my gosh, this was 21 bucks yesterday. It's at 16 now year-to-date Solana down from 170 bucks to now 16. Look at its move here. it was 37 November 5th Four days ago. it's it's down more than 60 percent in four days. Ah Ah yeah, the Tom Brady partnership with FTX you know one thing I will say and we'll end it on this. but this was remarkable and no, it's not. Yes, we have the Black Friday coupon code down below. email Kevin.com if you have questions about bundles or the courses. Although it's pretty self-explanatory in the link down below, here's the big crazy thing. okay I remember asking sponsor companies I'm like how the hell does FTX have all this money? They're being stupid with how they're spending their advertising money and this is because I was seeing what was going on in the YouTube community and they said well, their boss told them you have the money, spend it and I'm like that's not how to run a company so the red flags were there I wish I made a video about that. Oh well. anyway, see ya, good luck. .
I can't thank myself enough 🙏 Despite the economic recession,I'm so happy😊. I have been earning $80 ,000 returns from my $10,000 investment on short term.
You are a scammer. You pumped this garbage.
I love the grounded reality of this channel… TA is all well and good but I find it truly baffling that all major crypto YouTubers just look at pure TA and completely ignore the bigger narrative of why BTC is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market. This is the worst possible time in history to invest as so many don't back up their crypto assets. More emphasis should be put on day trading as it is less affected by the unpredictable nature of the market. I have made over 1.8btc from day trading with Kyle Miller’s insights and signals in less than 2 weeks, this is one of the best mediums to backup your assets in case it goes bearish.<The fact is, BTC is the future of crypto and the questions traders ask themselves now if this is the right time to invest? before jumping to a conclusion I think you should take a look at things first.. while others still continue to trade without the fear of making a loss, others are being patient. it all depends on the pattern with which you trade and the source of your signal. You can reach Kyle Miller on ͲeIєɠɾαm
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I loved the ending. :]
Kevin, you seem pretty nervous about Binance. Don’t worry, we all see your affection to FTX, the exchange you have been promoting and just failed. Don’t even try to undermine Binance. Guess what Kevin, Binance will be just fine, whether you like it or not! Thanks for your concern though and your cheap anti-Binance propaganda! Peace out!
Hello from sri lanka 🇱🇰 jew to binance help me sir 🙏
Kevin you promoted to open accounts at FTX. Then you go on cnbc and say CRIPTO can go to zero? How irresponsible is that?
Dont trust Binance? Who promoted FTX….hmmm let's rewind
I no longer trust in Kevin to know what to do with our money when he asks us to invest in his company. He advertised FTX non stop on his channel I wonder how many people got FUCKED because of him
This is crazy, appreciate the video.
it seems Youtube is powerless to filter all the bots posting spam comments here, the bot farms really have Youtube figured out. Every video I watch here I spend a half hour flagging 50 or so bot comments.
Withdraw all the coins to USD
Great video! I really do have a question. For someone with less than $10,000 to invest, how would you recommend we enter the crypto market? I am looking at studying some trders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
can you do a video about BNB-Binance coin
Meet Kevin has been pushing this ponzi scheme on his viewers for months. This guy is the biggest snake and is such full of shit. Look at his previous videos pushing FTX.
This whole cryptocurrency thing is such an extremely idiotic endeavor! how is something that can lose %75 of it's value in only 10 months is still considered viable? this level of volatility is laughable!
I am a US FTX customer and I cannot withdraw. I get an error message every time.
You look a little bit like ryan reynolds.
KEVIN, your sposnor is masterworks as of this week, you think they are legit? Come on dude. Big ponzi
you stupid shit
Wonder if folks who were pushing for ppl to use FTX should be held accountable? Hmmm…people should decide for themselves. Also wonder how such folks can sleep well at night. Guess it doesn't matter if theyre the ones making $$