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TimeStamps:
00:00 Crypto News Today
00:10 Genesis Files for Bankruptcy (UPDATE)
01:41 When Will Crypto Bear Market End?
02:41 List of Genesis TOP Creditors (Gemini, Hedge Funds, DeFi App)
04:22 What Was The Last Fed Rate Hike?
05:18 How Many More Rate Hikes 2023? (#1 Bitcoin Indicator)
07:52 Cameron Winklevoss Threatens to Sue DCG
09:01 #1 Mistake Bitcoin Hodlers Can Make
09:30 Who Hurt Jim Cramer? (SAD)
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Genesis filing for chapter 11 bankruptcy Last night came as a surprise to Virtually no one okay let me share with You the three main things that you need To know as a crypto investor number one And something subscribers of this Channel have been expecting Genesis Files for bankruptcy turns out they only Have 150 million dollars in the bank yet Are tens of billions in debt let me Share how this affects you as an Investor why the crypto Market is Beginning to show signs of a flip but First just 60 seconds summing up how Genesis got here the debt they currently Have and what this means for their Parent company dcg as well as how many Creditors and where do we go from here In terms of how we got here now even Though things went South for Genesis in November problems that the company Really go back to this spring and the Now bankrupt crypto hedge fund three Arrows Capital Genesis had loaned them Over 2.3 billion dollars worth of assets And that's part of why the Genesis Failure is so hard on its parent company Digital currency group dcg was forced to Take over its billion dollar liability Stemming from the 3ac collapse so dcg Itself now owes a growing debt of more Than three billion dollars in this sort Of endless knock-on contagion effect now In terms of the filing that went up on
The court docket late last night we're Specifically talking about the crypto Lending business and Genesis the Company's derivatives and spot trading Business will continue unhindered as Will Genesis global trading the company Listed over 100 000 creditors with Gemini at the top of that list it also Had aggregate liabilities potentially as High as 11 billion dollars So hundreds of thousands of creditors Anywhere between 1 billion to 11 billion Dollars in debt but it's interesting to Me that because this was a long time Coming because these are the type of Headlines you see in any market during a Bottoming process it's good in a sense That the healing can finally take place And in a direct quote from genesis's Interim CEO he says and in court Restructuring presents the most Effective Avenue through which to Preserve assets and create the best Possible outcome for all Genesis Stakeholders and as mentioned in that News clip it's only Genesis Lending That's going into bankruptcy Genesis Trading other parts of the company Staying open still able to make money And the company which is a subsidiary of Dcg said with more than 150 million Dollars in cash on hand this has been Described as an ample amount of Liquidity to fund operations during the
Restructuring process and again headline Lines like this tell us that the bear Market is closer to ending than Beginning of course it's not the only Headline the FED arguably is much more Important we'll get to this in a sec but Who are the creditors and how much are They owed Gemini hedge funds and a defy App bankrupt Genesis reveals a list of Creditors and even though there are over A hundred thousand the top 50 are owed By themselves over 3.6 billion so Creditor number one and the biggest is Of course crypto exchange Gemini takes The top spot with a disputed debt of Roughly almost a billion 765.9 million they come in and number One number two the second largest name Creditor is a singapore-based entity Called Marana Corp which has a total Debt of around 151.5 million Miranda is A big name because they have made Significant investments in crypto Miranda Ventures has backed crypto Gaming from and a mocha Brands they've Backed ethereum scaling project matter Labs and a host of others anyway they Come in at number two very quickly who Was the third the third largest Nim Creditor is Moon Alpha Financial which Trades under the name Babel Finance you May have heard of them and it's based in Hong Kong again some people may see this As a negative for the market because all
These companies their own money and Assets somewhere will have to be sold to Maybe recoup 70 cents 50 cents on the Dollar but to me we knew this was coming And these are the headlines that we have To see in any bear Market to understand That a bottoming process is taking place Of course the biggest indicator to me on Is this crypto Market going to flip is What's happening with the FED what to Expect from the fed's first meeting of 2023 in less than 12 short days the next Of the short-term interest rates will be Announced on February 1st and why this Matters is because the FED has always Been the entity in Direct Control of Markets it was back in 2020 that the FED Cut their rates to near zero also Printed so much money that the next year In 2021 markets obviously flew yet it Was in 2022 that the main goal of the Fed was to tame inflation over and over And over again they raised rates Suppressing markets and while in the Middle of the year last year we saw four 75 basis point Tykes in a row super Aggressive we did start to see a little Little shift a little lessening in December so 50 basis points up was the Last that meeting what should we expect With the next one well currently both Interest rate Futures as well as the Fed's recent hawkish tone means that we Can expect another interest rate hike
But it may be small in comparison to the 2022 decisions so what markets are Pricing in now meaning What markets are Currently expecting the interest rate Move is currently expected to be smaller Than the past hikes at 0.25 percentage Points yet keep in mind there is still Significant economic data that could Come in ahead of the fed's decision and Could change the fed's view the decision Is scheduled for February 1st 2 pm Eastern time this channel will be Covering it but essentially what this Means to you and me as crypto investors Looking at 2023 as a whole well today Federal funds rates are around 4.5 Percent the FED has told us to expect Them to increase anywhere to 4.75 to as High as 5.75 for the year so the Implication of getting from here to here The implication is that there's still at Least one more rate increase to come in 2023 and quite possibly several What Markets are predicting right now the Central path according to the cme's FED Watch tool great metric is that the FED Increases rates 0.25 percentage points At both it's February 1st and March 22nd Meetings and perhaps hold rates steady After that and to me this is going to be The biggest indicator on when the crypto Bear Market truly flips as long as the FED is still raising and I would even Argue holding steady that will always
Suppress markets the moment we pivot That's bullish that's when more money Can come in and to me why February 1st Is so vital that yes either way we're Probably getting an increase if it is Just 0.25 percent that's that's standard That's what the market expects that's Neither bullish nor bearish to me if we Get 50 basis points that's bearish Because the FED is seeing the markets And understanding damn we got to be a Little more aggressive than we thought We had to be if after their February 1st Meeting as well as after their March 22nd meeting if they just have minimal Yet standard rate hikes and then they Pause that's a signal to me then markets Are shifting now of course this is an Ongoing story as I get new information I Will keep you updated and even Cameron Winklevoss founder of Gemini exchange Issued a public statement saying that This Genesis chapter 11 was ultimately Positive earn update this evening Yesterday Genesis Global Capital filed For bankruptcy under chapter 11. this is A crucial step towards being able to Recover your assets Cameron goes on to Say this while we previously have been Working around the clock to negotiate an Acceptable solution Barry silbert and Dcg the parent company continue to Refuse to offer creditors a fair deal so They were at a stalemate the good news
Is that by seeking the protection of Bankruptcy oversight Genesis will be Subject to judicial oversight and be Required to provide Discovery I.E shed Some light on how they got here Crucially the decision to put Genesis in A bankruptcy also does not insulate Barry and dcg and other wrongdoors from Accountability and unless Barry and dcg Come to their senses and make a fair Offer to creditors the Gemini twins will Be filing a lawsuit against Barry and Dcg imminently The final thing I do want to make clear Is The minute to me the minute the FED Pivots that signals to me the end of the Bear officially beginning of the bowl That does not mean to me that that's When the bottom happens technically the Bottom could happen before the FED Pivots after the FED pivots to me this Is just about a trend change that's What's important to me not necessarily Timing the bottom which is near Impossible I'm looking for the trend Change by the way for those of you who Will be in Miami Beach May 18th through 20th this year come join us at Bitcoin 2023 use code altcoin daily for 10 off Your tickets come hang out with Michael Saylor us other notable people are going To be there linked down below like Always see you tomorrow coin whether it
Be ethereum whether it be salon Anna Anything crypto I think So so so Yeah I think
