Today we’re going be taking a look at Barry Silbert and is he the most dangerous man in crypto? And also how does this connect to Circle, Gemini, and BlackRock? Stay tuned until the end to find out! You do NOT want to miss this.
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0:00 Intro
0:11 Barry Silbert
3:42 Circle
6:50 BlackRock
8:37 Gemini
10:05 Coinbase
11:46 Conclusion
All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice. Digital Assets are highly volatile and carry a considerable amount of risk. Only use exchanges for trading digital assets. Never keep your entire portfolio on an exchange.
Sources:
https://markets.businessinsider.com/news/currencies/circle-crypto-digital-bank-usdc-stablecoin-goldman-sachs-backed-2021-8
https://signal.nfx.com/investors/barry-silbert
https://www.ledgerinsights.com/blackrock-circle-usdc-stablecoin-reserves/
https://www.circle.com/blog/deepening-our-partnership-with-blackrock
https://blockfi.com/interest-rates-update-august-2022
https://www.theblock.co/post/106089/gemini-earn-gusd-7-4-interest-stablecoin
https://www.coinbase.com/blog/coinbase-customers-around-the-world-can-now-earn-up-to-1-5-apy-on-usdc
#gemini #coinbase #bitcoin #ethereum #crypto #news #nft #economy #money #blockchain #invest #inflation #cardano #cryptocurrency #usdcoin
Is this man the most dangerous person in Crypto we're gonna tell you why it just Might be let's get it Welcome to bitwood crypto my name is Ben Today we're going to be taking a look at Barry silbert and is he the most Dangerous man in crypto and first and Foremost I do want to point out I mean You guys see this this is uh him combing His hair don't forget Barry we know that You actually Look like this we know you look like This Barry I digress here let's get Going on this we're going to talk about The drama between the winklevox Twins And what's really behind it And is this the same model that Barry Used to destroy another crypto company Got to tune in maybe next week find out About that inside dcg the crypto Conglomerate led by billionaire Barry Silbert that's come under Fire from the Winklevoss twins this is something to Watch this week as Genesis may be forced To file bankruptcy on Friday this could Be the start of an epic dump maybe even A new bottom I don't think that's going To happen but it is definitely a Potential The main difference between if Genesis Files bankruptcy and all the other Collapses we've seen Is the other ones were out of nowhere Celsius out of nowhere FTX out of
Nowhere Voyager out of nowhere we know Genesis is in trouble so some of that May be baked in two of the most Influential crypto executives are duking It out when nearly 1 billion in customer Funds at stake Gemini co-founder Cameron Winklevoss blasted digital currency Group or dcg founder and CEO Barry Silver in a public letter on Monday Accusing the billionaire of bad faith Business practices Winklevoss says the Dcg in Genesis owe the crypto exchange And its customers 900 million dollars he Gave silver until January 8th to commit To resolving the issue this is huge Because if you've been watching our live Stream we've been telling you from what I understand there are two Investments Alone one is in circle and the other is In a large crypto project that could Cover the entire bankruptcy and Insolvency Winklevoss also claims over Barred 1.67 billion from his own Genesis Subsidiary for share BuyBacks Venture Investments and Kamikaze grayscale nav Trade or nav traits that inflated fee Generating assets under management so This is a letter from Cameron Winklevoss Here to Barry silbert you can check it Out on Twitter by going to at Cameron Man he really got in early didn't he and Here it is basically laying out what They want some of you guys have probably Watched maybe all coin Daily's video on
It they did a very good one if you want To see exactly what he said we're going To cover all the words but the link of Us twins are putting pressure on Barry Silbert with this January 8th date the Winklevoss letter comes as investors are Suing it says RR suing the Twins and Their firm over the interest bearing Product a complaint filed on December 27 Said Gemini refused to honor investor Redemptions wiping out investors who Still had Holdings as Genesis was unable To return the crypto it borrowed from Gemini earned investors so just so you Understand this is a little bit Different than FTX FTX was co-mingling Customer funds of course Alameda funds FTX funds customer funds and they were Using those to try to get yield on other Investments however the customers were Not getting those returns with Gemini It's similar to what Celsius was where You signed something saying that they Will take your crypto and try to earn Yield and give you a percentage back in Interest that's the Gemini earned Program they also have a regular spot Exchange they're not allowed to touch Customer funds so it's not the exchange In total that's affected it's only to Earn customers those who signed up for Those and just a reminder it's 900 Million that they owe the earned Customers that the customers are trying
To get their funds and they can't so Let's move on here let's check this out A little bit more here okay so last week We covered Circle and why they're such a Bad actor reminder Goldman sachs-backed crypto payments Group circle aims to become a full Reserve National digital bank if you Watch my video from a little bit earlier Today you're seeing how now BlackRock is Trying to get involved in Bitcoin mining We're seeing traditional Finance the Bad Actors the elites try to take control of Crypto one step at a time now reminder Goldman Sachs been doing this for a long Time this is not new news uh this right Here where they made the statement goes Back to August 10 2021. so here we go we Got digital payments company Circle Plans to become a full Reserve National Commercial Bank according to Announcement by CEO Jeremy alaire on Monday A lair said the decision had partly been The product of the growth in its Dollar-backed stable coin Usdc which has a market capitalization Of 27.5 billion at the time it's much Harder than that now it's the second Largest stablecoin after tether now Quick look at coin market cap shows the Current numbers tether at 66 billion This was up to 82 billion in market cap Usdc coin now at 44 billion it's
Basically a 50 move away from overtaking Tether which has been the stable coin of Choice forever we're seeing a move in The United States in my opinion to get Rid of tether to outlawed I think this Will come in the next two years and pave The way for USD coin or usdc currently It's number four on coin market cap Tether is number three we talked about On Friday the plan for usdc to become The centralized Bank digital currency of The United States we're gonna have a Much more in-depth video for you on that Coming up soon on the channel in the Next couple of weeks but just keep in Mind we're seeing tether pushed aside so Let's check this out here when it comes And I promise you guys this all connects Back to Gemini and also potentially to FTX so we understand the plan that is Afoot here with usdc we also understand The plan as a foot with Goldman Sachs Coming into crypto now back to Barry Silbert VC investor CEO I know we've Gone over this before on the channel but Check this out digital currency group Investor let's check out Barry silbert's Investments on record Circle private Equity round 440 million dollars 25 million dollars Back in July of 2020 110 million 50 Million 17 million going back as far as 2014. March 2014. Hmm that's interesting do you know what
Happened in February of 2014 now gox Crashed beginning of the bear Market Then you fast forward to the summer of 2014 what happens the creation of the Federal bit license in New York not a Coincidence Circle rearing up right Before we get regulation at the heart of Banking Wall Street when it comes to Goldman Sachs and circle so we know Barry is heavily invested in circle well Check this out Circle who are they Partnering with deepening our Partnership with BlackRock that's right guys through our Partnership with BlackRock we begun Investing in the circle Reserve fund to Manage a portion of the usdc reserves Open your eyes BlackRock is trying to manage usdc for Circle think about this this is has Massive implications when it comes to Institutions and traffic in crypto we Don't want them here and yet here they Are trying to take over everything and You can see how BlackRock filling their Coffers with usdc how much that will Benefit them when usdc becomes if it Becomes the Central Bank digital Currency and of course BlackRock of Course tied to the wef so what does this Mean does the U.S digital dollar become The reserve currency and maybe become Even the world currency one currency for The world could certainly see that
Happening this is directly on the circle Website there's a little bit more about That BlackRock managing funds or circles Usdc stablecoin reserves uh this back November 4th 2022. do you know what Happened eight days later the top of Bitcoin big surprise the more we invite These people in the more they screw this Space in April black Rock participated In circles 400 million funding round With BlackRock stating it intended to Explore Capital Market applications for Usdc without elaborating the funding was Intended to tide Circle over to the Completion of its back deal on December 22nd 2022 however last week in fact Revealed plans to move the closing to January 31st 2023 a step that requires Approval from shareholders representing 65 percent of the stock BlackRock is Paving the way for usdc now let's go Back to May 26 2021 also right about the Time of the first crash which happened On May 19th of 2021. Gemini back to Gemini adds gusd to its earned product Offering 7.4 percent interest on the Stablecoin Gemini trying to become a big Player in the stablecoin game do you Want to know the quickest way to become The tallest building in town you knock Down all the other buildings do you want To know how to get eliminated in crypto Just go against BlackRock and create Your own stable coin there's a precedent
For that here we have crypto exchange Gemini adding gusd the Gemini dollar Offering a flat 7.4 percentage annual Yield gusd is the first dollar Peg Stable coin to be added to earn the Product already Sports die but it is an Algorithmic stable coin meaning is not Backed by fiat currency but by crypto Assets Gemini Co Noah Perlman said There's high demand for gusd among Institutional Borrowers Big mistake who use it to fund their Operations and investment strategies They're willing to pay competitive Market rates to borrow gusd our vetted Institutional lending Partners such as Genesis Global Capital find these Borrowers and lend your funds in Exchange for an interest payment of Course this is here on the website the Block as you can see here of course the Block CEO took 27 million dollars from Alameda so did that affect this article Not really sure coinbase customers Around the world can now earn up to 1.5 Percent apy on usdc and also as you know Recently they made zero trading fees on Swapping tether to usdc why you may be Wondering you know if gemiini has their Own stable coin and circle and BlackRock Want to go after them what about Coinbase well you may not know this is Usdc circle or coinbase launched in 2018 Usdc is managed by Center a Consortium
Form to improve the mainstream adoption Of stable coins coinbase along with the Boston-based financial services company Circle is the founding member of the Consortium switched to a trusted stable Coin USD coin it's in the name USD coin We know Jerome Powell back in 2020 Already said they're open to using the Private sector for a digital dollar all Right back to this article on coinbase There's now another reason to use the Most trusted and reputable digital Dollar starting today customers globally Will earn up to 1.5 apy on their USD Coin that's approximately 1500 times More than you will earn on dollars in The bank now customers globally can earn Rewards on a usdc while taking Advantages of its many uses many uses It's a dollar what are you going to do With it so a 1.5 yield is that great in Crypto though not really we've seen six To eight percent not that they've worked Over the long term but here on block Find this is what they were offering Seven percent Returns on usdc What else Gusd Gemini becoming a major player on The stablecoin stage new apy 7.5 percent guys this spat Between bad haired Berry You know how I feel about people with Bad hair and the Winklevoss twins it's About more than Frozen funds and billion
Dollar loans It's about a stable coin it's about usdc Becoming the digital dollar and digital Currency group Goldman Sachs BlackRock Circle coinbase running over every Competitor to keep them from achieving Their dream of becoming the digital Dollar So here's where we get Into the really interesting thing about This Crypto exchange FTX is working on Creating a stable coin according to a Report this was written on October 27 2022 the day I turned 40 years old FTX Announced they were working on creating A stable coin Co SPF told the big whale In an interview Now October 27th 2022 November 2nd 2022. The balance sheet of FTX is leaked to Coindesk a dcg controlled media arm they Literally Own It November 9th CZ dumps Ftt and the rest is history I would like To submit as evidence FTX getting brought down yes they were Insolvent yes it was their fault More tied to this article than any Article that you've ever read Stable coins this is where the banks Plan to control crypto plan to control Privacy make it where you can't spend Your own money it's dangerous dangerous
Dangerous territory Circle Goldman Sachs Digital currency group Barry Stillberg Their positioning to become the One-Stop Shop Sam Bateman freed got in their way Winklevoss twins getting in their way be Careful it's a dangerous place to be It's all I got be blessed big boy out [Music] Thank you [Music]
