Hey guys, it's Sasha Last week, FTX the second biggest crypto Exchange in the world collapsed. And if you are a crypto bro who is into sadomaticism, your first thought is probably which other crypto exchange shall I go and burn my money in. Well fear not, because immediately after FTX collapsed, the resident magician turned dividend investor turned monkey collector turned crypto expert told you to go and stick all of your money into Block Fight. Don't forget to grab up to 250 worth of free Bitcoin Right here Yes, The guy who promoted FTX on the Millennial Money Channel to hundreds of thousands of viewers and made a ton of money from promoting this scam quite literally went and shield Block Fight in the very video he made about FTX collapsing. But to his credit he did tell you that you should move all of your money off Block Fight afterwards. So I guess that crypto Bros emerge from their mom's basement and asked for some pocket money and deposited it right into Block Fight. The problem is when it came to follow Andrea's advice and withdraw the money, they couldn't do it because Block Fight has suspended withdrawals and this morning it appears that Blockfire is about to go bankrupt. Now, Naturally, it's not a good look when you've been promoting a scam to your followers because the scammers were paying you obscene amounts of money. So Andre is quickly gone and deleted the block by affiliate links from his videos. So now if you watch this video and you see that ad for Block fight, if you go to the description, the link is in there. But don't you worry, there is another link to this company called I Trust Capital or you can go and buy some crypto in your retirement plan. You can't take your crypto off the platform and they get to own the keys. So there's definitely absolutely nothing that could possibly go wrong. Since the collapse of FTX, the lowlifes who made hundreds of thousands of dollars from selling out their audience have decided that the strategy of pretending that nothing happened is the best approach. So on Monday Andrea and Graham Stefan released brand new videos to Their audience just a few days after the whole thing with FTX happened about completely unrelated topics. I Guess the theory there is that if they ignore the massive up, then eventually enough people will just forget and that's the best way to deal with the situation. But it seems that they slightly misunderstood the sentiment of their really pissed off viewers because the comment section on each video has thousands of people complaining about FTX and Block Fight telling these creators that they are pathetic scumbags. and these videos have way more dislikes than likes, which is extremely unusual on. YouTube By the way, shout out to the Return YouTube Dislike: Chrome Extension: along with Blockfy collapsing this morning Genesis The crypto broker with billions of dollars in assets has paused withdrawals. How surprising. Gemini The crypto exchange that the Winklevoss twins started also paused withdrawals on their borrowing program. The House of Cards is collapsing four of the biggest: Finance YouTubers meet Kevin Grahamstaff and Andre Dick and Jeremy Lafave used to have have a channel called Millennial Money that was very popular. It was getting about a hundred thousand views per video. That channel was very heavily sponsored by FTX every video that had those FTX logos right above the head of the guy Shilling it for the duration of the video, not just a little mention the whole thing. This must have earned them a massive, disgusting amount of money. but in the last day or so that channel has been deleted. Every single video that would make them extremely culpable on the channel has gone. They just deleted it, they deleted the logos, and they've renamed it as M The only giveaway here is that the channel still has the 169 000 subscribers and the URL link is the same one as it was for the old channel. So at the moment, we are running at approximately one giant crypto exchange collapsing every day. Remember when everyone said that being regulated means that of course your money is safe. Well, Gemini was run by the billionaire Winklevoss Twins And guess what, if you put your money into their lending business, you cannot withdraw it. And as per usual, of course, Gemini is a full Reserve exchange and custodian. All customer funds are held one to one and are available to withdraw at any time. Do Not go and withdraw it because it's all safe except in the specific circumstances when they cannot be withdrawn at all. like right now. And you know what, You can't withdraw your money because it's tied up in a Ponzi scheme because Gemini The US company based in New York and regulated by the New York State Department of Financial Services LED people deposit money into a thing called Gemini Earn that pays 7.4 return on their investment. At a time when savings accounts would pay you zero point, all interest and bond yields were zero point you. How exactly do you think these Ponzi schemes pay 7.4 9, 12, 18 or whatever interest? Is it some kind of Magic Money Tree They pay it by taking money from new investors and paying interest to Old investors? Or they gamble it in the case of Gemini That would be a bit too blatant of course. So instead they go and partner up with some other random crypto company so that when the US Regulators come and knock on their door and say what the have you been doing, they can pretend they didn't know about it. All together, they just trusted that this random crypto company somewhere else offers completely irrational returns, but is completely legit. No risk whatsoever. If you think the other crypto exchanges are somehow better, good luck to you. Crypto.com offers 14.5 return on your crypto. they're based on Singapore and have legal setups around the world and random tax Havens with loose Financial regulations in Europe For example, The Entity registered in Malta under an E-money license and yes, Crypto.com have their own Ponzi scheme going called the Kronos token. And yes, just like every thing in Crypto, the Chronos token chart does look like the most typical pump and dump scheme, losing around 93 of its value in the last few months. And in case you wondering, the token never had any value in the first place. No reason to exist other than to make Crypto.com a lot of money by selling a worthless digital token to gullible investors. Then you have Binance, a company that doesn't have a known physical location with a mysterious founder who went from zero to thirty three billion dollars in five years. And of course, Binance has its own Ponzi token called BNB This is exactly how every single crypto exchange makes money by selling worthless garbage to gullible investors who think these Ponzi schemes have some kind of actual value. When is this going to end? When are The Regulators in the US UK around the world going to wake the up and realize that we literally have legalized Ponzi schemes and pump and Dump fraud by giving it a new name. If you saw the movie Wolf of Wall Street, you will remember that Jordan Belfort went to prison for selling worthless pink sheets to gullible investors. The reason he went to prison is because it is illegal to sell dog to investors and pretend that it is better as an investment than it is. It is illegal to sell stuff that has no intrinsic value and pretend it does have value. The popular name for this is a boiler room scam. When a company goes and sells worthless investing schemes that have no tangible value, it is illegal in the United States It is illegal in the UK. It is illegal in every country in the world, but hey, if you call that thing a crypto token or an Nft and then pay a bunch of morons on YouTube to promote it and hard sell it to their audience. That apparently makes it okay because crypto is the future. If a company is offering insane interest for just depositing your money with them and say that there is no risk at all associated with it interest, That is way too good to be true. It is a scam. So what the is going on here? Best savings accounts in the US pay about three percent give or take at the moment. 10-year treasuries are paying 3.7 but coinbase, a pub publicly listed U.S company will magically pay you 5.75 and nobody. Literally nobody seems to give a nobody's questioning this look. They say it's easy and it's secure. Of course. Zero risk, right? This has to stop. But the problem is that everybody involved is a greedy. The regulator don't seem to care either. They are completely incompetent because it is so incredibly obvious what's going on here or they are complicit in what's going on in some shape, Scammers with Zero Integrity are running fraud right in front of your face. It's not even very difficult to spot. You can just see it on the website. You can see the promotions of this stuff and Grifters on YouTube will promote absolutely anything for money. They do not give a about you, the viewer. They do not care if people are getting financially destroyed, They don't care if people are going to lose their savings, lose their house, be unable to afford food, being able to afford heat, teaching it, you get paid to promote some scam. It is not your fault if people are going to lose the money in the scam that you just promoted even though you apparently are educating people about how to best manage their money. And you know what if it all goes tits up, you can just pretend it never happened. Just delete all evidence of you people over. Get rid of the links, Get rid of the videos, Get rid of the comments that you don't like. Do Not get rid of the money you got paid. No. That is the one thing that you get to keep and carry on as normal as though nothing happened. Eventually, people will forget and move on, right? And maybe next year you can go and promote the next scam that offers people ridiculous returns that are too good to be true, promises to make them rich, quick, and pays you a ridiculous amount of money. And in the meantime maybe go and make a few more videos about the mansion that you just bought for two million dollars in Las Vegas To really rub it in people's faces how profitable being a scammer is I am sorry, but no saying you had no idea is just not good enough. If you are promoting services that offer returns that are too good to be true, selling people worthless, then you are guilty. And just because there are hedge funds that also got greedy, tried to make money on a scam and got burned, does not mean that the scam wasn't a scam in the first place does not mean that nobody could have possibly known. Just because there were sports teams and football players promoting the same scam does not mean that you're not guilty because you don't have as much reach. And I am sorry. But when you up and then try to pretend that nothing has happened, you deserve all the hate that you're getting in the comments and then some a two minute video saying whoopsie does not quite cut it when you sold an actual scam to thousands of your followers ruining people's lives I Understand that sometimes we promote things on YouTube and something might happen with that product. maybe with that company that is outside of our control. Content creators are not responsible for what some CEO does or what some company does, but if you play with fire, you don't don't get to complain when you get burned. And when you take obscene money to promote a get rich quick scheme and that thing goes barely up, you absolutely deserve everything that's coming to you.