Okay, wow, we need to clear this with the SEC before we get to a Bitcoin ATF and it could be a big deal and we need to break this down because nobody's paying attention to this right now. Quick note: it is Black Friday So that means our Black Friday sales event is going on. The big new course we have is the Gold membership course coming out on Monday It's only 375 drops Monday If you're an existing course member or existing member, email us at staff at Me Kevin for a bundle or if you want to bundle up other courses, email us. These are the lowest price we've had # deflation while providing more value for our customers.

So if you're an existing customer, make sure to email us if you're new and if questions, email us. But these new verse Pro courses are a GameChanger all brand new content designed for the 2023 economy. from how to never pay taxes in America Renovate real estate, buy real estate, analyze stocks, sell anything to anyone, nutrition, productivity, negotiate, you name it. brand new lectures coming out so check those out.

Link down below for Black Friday This is crazy. Look, look at what's next for Binance and some of the allegations here. And then we got to talk about the Bitcoin ETF because that's going to be pretty intense as well. Uh, but I Believe that in order to get the Bitcoin ETF approved, we've got to get through the entire Binance.

Saga The Binance Saga is really just beginning. Even though the Doj probe is over, the SEC probe is still going and take a look at one of the allegations here of how the SEC is setting up the story against Binance and then what they want Binance to do and what that could mean Is it good or bad for Crypto? First of all, want to be clear: I Think that the Doj probe and settlement was actually good for Crypto, It removes some of the negativity in crypto. brings us to regulation: AML Kyc. Whatever, this is actually a good thing.

I would rather have legitimate Americans and Pension funds and institutions investing in crypto than terrorist organizations. So with that said, take a look at this. Uh, this is what the SEC is setting up the story the SEC is going with. They're basically taking quotes from Zhao where he says things like the following: Zhao Confirmed in April of 2019 When commenting on a ranking of Crypto asset platforms by trading volume.

Quote credibility is the most important asset for any exchange. If an exchange fakes trading volume, why would you trust them with your funds? Okay, yeah, that makes sense. Like if you have fake trading volume or you're pumping fake volume for your fun for for your exchange. of course, if that comes out, that would be sussy and you shouldn't trust them.

Well, the SEC stitches this together with the following: line 274 5 years later April 6 2020 Binance.us platform made Crypto Asset Security Coe available for for trading shortly after it was available. Sigma Chain engaged in substantial wash wash trading, which is basically creating fake volume like putting in buy limit orders and sell limit orders just to fake volume. The following chart summarizes this activity over the ensuing 11 days in which Sigma Chain represented as much as 35% of the trading volume on the platform. and then they give you the trading volume here.

Now, what interesting is Sigma is controlled by Ziao and here the SEC is basically trying to stitch together and argue you're literally doing the stuff you said you would not do. You're deceiving your customers Now this is. It's worth noting what the charges are here because Zhao on Twitter argues that hey, like they're not alleging Market manipulation or misuse of funds. Correct, the Department of Justice is not.

But look at what the SEC is charging and then what they ultimately want. Which we'll get to that and we'll talk about how that affects Bitcoin and the ETF. The SEC alleges that Z and Binance exercised control of the platform's customer assets, permitting the co-mingling of customer assets or diverting customer assets as they please. The SEC is basically alleging Binance is doing the same thing that FTX was doing, which obviously was a giant fraud, including to an entity Zhao.

Well, it's obvious now it wasn't then, including to an entity Z owned and controlled called Sigma Chain. Further, the complaint alleges the defendants concealed the fact that they were comingling billions of investor assets and sending investor assets to a third party. Yikes! These are massive allegations by the SEC here, and these literally are investor violation allegations and Market manipulation allegations. Now, those are exactly the things that Zhao implies he was not alleged with, but he's just saying the Department of Justice didn't allege that they're just alleging anti-money laundering rules and wire fraud rules.

The SEC however, is alleging that so this SEC case will probably have to get cleared in my opinion before we get ETF approvals. Now we could be wrong. Who knows, Maybe tomorrow, Maybe by the time I post this video, the ETS will be approved. Who knows.

I Suspect though, some kind of either settlement or some kind of resolution will have to come from this SEC case before you can actually get a clear ETF approval. My take: Now, what does the SEC want? Well, the SEC wants Binance, Bam trading, and Zhao to basically never again participate in any kind of Securities transaction that is unregistered. Okay, that's a problem because basically every crypto transaction is unregistered almost with the exception of some security tokens that go out and actually get like a regulation, a crowd fund, or whatever. Pretty much everything is unregistered.

So the SEC is essentially saying we'll let you do crypto Like they're not saying you're permanently banned from doing anything with crypto, They're saying you're permanently banned from doing anything unregistered with crypto. Which basically means if they agree to this settlement and then a Btcf gets approved. guess what happens? The SEC is basically saying the only thing we will allow you to do in America is trade the Bitcoin ETF that's a huge Catalyst for the Bitcoin ETF They're basically saying look, we need everything registered and other than if it's not registered, you can't trade in it Basically basically what they're saying. Now what's really interesting about that is I Personally believe that.

Well first of all, there's this index called the Uh Crypto Gap Galaxy Bloomberg index. It just tracks various different Uh prices for different crypto assets I Think that kind of index and then having an ETF that tracks that index is probably going to be the next Frontier for crypto. So it's not just a Bitcoin ETF but it's going to be an avalanche. A madic.

a Solano Ethereum cardono ETF Because the tax benefits of investing in crypto and then being able to rebalance via an ETF are are are massive. But on top of that, it also gives you diversification. It's kind of like investing in the S&P 500. It's fantastic.

That is a great opportunity. I Actually made a video on this uh about a week or so ago. Uh, the video is titled you could watch this and I explained some of the tax benefits of the ETF Just search for the video. Uh, the video where I again I break down exactly what those tax benefits are, how those work in an ETF The video is titled quote: no one is paying attention to this next crypto Game Changer Crypto ETF ETFs and custom crypto ETFs of different allocations or whatever.

But I think you'll essentially have an S&P 500 of crypto. It'll be like the crypto Galaxy 50 or whatever. so that'll come. and Binance will probably only in the US be able to transact on registered Securities which various different ETFs would then be registered Securities So it's a huge Catalyst for those.

However, it's not the best Catalyst for anything that's not in the ETF rapper. So it would appear that potentially your lowest risk in crypto is paying attention to crypto assets that may have an ETF made after them. like who knows? is cardono going to get one is solomatic? Uh, you know polygon? are they actually going to get ETFs Will Ethereum get an ETF? We don't know. right now, most of the Hope seems to be on Bitcoin now.

Uh, as far as Bitcoin JP Morgan does have a negative counterargument to what I'm saying here, they think that a lot of institutional money is is already speculating and locked up into crypto via the grayscale Bitcoin trust. That's a problem because if the grayscale Bitcoin trust converts to an ETF and then the value pumps, there's potentially $2.7 billion that could flow out of crypto at that moment, because finally, that money will be unlocked, which had been se you know, basically trading for a discount for a long period of time. Finally, it'll be unlocked at spot. And so JP Morgan says look, if all that money stays in crypto, we could stay solid.

You know, maybe people just move from the uh uh grayscale Bitcoin trust as an expensive ETF uh eventually ETF Right now it's not an ETF because there is no ETF approv. If it moves from something like that to maybe like a Kathy Wood you a 21 shares ETF then at least it stays in the crypto Market You keep that buying pressure up and you don't see a collapse in valuations. However, they see quote substantial potential downside risk after an ETF conversion in the short term as institutions leave the already locked up grayscale Bitcoin Trust Now that's really interesting because I've previously argued that it seems weird that we're seeing a lot of pumping by institutions of crypto going into or institutions with crypto exposure going into this ETF approval like it's one thing if we have retail pump in it because you know that's what we do as retail, you know it's like hey, we're in on this man. we're all in on this like we're excited about it, right? But the level of pump I'm seeing from the institutions is is a little sus and so I kind part of me is like huh I wonder if JP Morgan is right and and after that grayscale Bitcoin trust converts.

You end up seeing a temporary dip and then I wonder is that the dip that you potentially look at buying? Because remember now you open up the floodgates to potentially new fund managers wanting crypto exposure. So for example, let's say you in theory you you were running a a pricing power style ETF Let's say in theory and you wanted to include you know a little bit of a hedge or some kind of diversification via crypto. You can't do that today. but you could do that once a Bitcoin ETF is approved.

That's why it's a game changer. So obviously, uh, you know BTC Moving pretty excitedly right now. Uh, after the uh, you know binance settlement with the Doj that came as pretty expected. uh, I said it immediately as it happened.

This is bullish for Bitcoin Uh, it's not bullish for Zhao There are fears that he might never return, that he'll just take the L on the $200 million of bond or whatever that he paid and burn the people who helped spot that and that it'll never come back. He says. obviously he'll come back. he's sort of pretending to be retired on Twitter right now.

When the reality is he's you know it's It's just not a retirement. You're potentially facing a jail sentence here and we're not even on the SEC settlement yet like we're just on Part one. Part two coming is is going to be the real one. Uh Duwan uh.

former CEO of Terra formal Labs Obviously from the teral Luna collapse who wiped out, you know, went went over $45 billion, were wiped out in a week. Uh, well, at least in market cap so not necessarily nominal value. But anyway, uh, he is expected to be approved for extradition to the United States Remember, he was found in a Montenegro airport. It's kind of silly that he ended up trying to travel on his passport.

Well, I guess I I Don't know if they ended up finding his fake ID or how they ended up pulling it off. but yeah, you know, a lot of cameras at airports. Anyway, that's how how they found him and uh, obviously, uh, there is, you know. Continued flow of information on Argentina Argentina will be really interesting as they potentially push for some form of Bitcoin as legal tender adoption.

When El Salvador adopted Bitcoin they did so uh, at a pretty rough time for Bitcoin prices basically went straight down. so uh, public confidence in Bitcoin was very little. Only about 133% of people were confident in Bitcoin. That could be different.

Having an Argentinian adoption during a Bull Run That would be a much better time. Uh, the last time we've also seen Bitcoin sit about at Uh 38,200 was about 570 days ago. As you can see, we just hit about 38,400 back down under 38k right now. and apparently FTX is using a new form of currency to get things done in jail.

Mackerel bags? yeah fish. he's got fish crazy crazy world that we're in. uh anyway. go to me Kevin Check out those beautiful courses on building your wealth I Have to say the a lot of people are emailing us right now at Staff of Me Kevin.com wanting to bundle up the big new course that comes out Monday is the gold membership which comes with all of the new verse Pro Content buy your first house, never pay taxes in America Renovate Real Estate fundamentally analyze stocks, start a profitable side hustle, boost your productivity, negotiate any deal and win, Sell anything to anyone, Speak and present with confidence and many many many more.

All these brand new November lectures coming out uh, only 375. Big deflation? Uh going on which is a great opportunity here for Black Friday Best prices guaranteed. Go to Meetkevin.com to learn more and remember to email us at Staff Meetkevin.com if you want to bundle up. Thanks so much for watching.

We'll see you the next one Cannot advertise these things that you told us here I Feel like nobody else knows about this? We'll We'll try a little advertising and see how it goes. Congratulations man, you have done so much People love you people look up to you Kevin PA there financial analyst and YouTuber meet Kevin Always great to get your take even though I'm a licensed financial adviser, real estate broker and becoming a stock broker. This video is neither personalized Financial advice nor real estate advice for you. It is not tax, legal, or otherwise personalized advice tailored to you.

This video provides generalized perspective, information and commentary. Any third party content I Show should not be deemed endorsed by me. This video is not and shall never be deemed reasonably sufficient information for the purpose of evaluating a security or investment decision. Any links or promoted products are either paid affiliations or products or Services which we may benefit from personally operate and actively managed ETF and hold long positions in various Securities potentially including those mentioned in this video.

However, I have no relationship to any issuers other than House Act nor am I presently acting as a market maker.