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TimeStamps:
00:00 Crypto News Today
00:30 Kevin O’Leary Warns ‘Rushed’ Crypto Regulation Is Coming
04:22 Kevin O’Leary’s Advice for FTX
05:37 Sam Bankman-Fried News Today!
06:33 CPI Data February 2023 – Explained
08:01 The Scary Truth About February CPI Data
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Because there's plenty of zeros coming To a theater near you until we actually Force regulation on this so in today's Video let's discuss the three main Things that affect Bitcoin number one The CPI data for February what this Means to you number two Sam bangman Freed has been forced to reveal the Names of his bond signers we now have Them and of course the biggest news Kevin O'Leary went on Yahoo finance this Morning to talk about the timeline of Actual crypto regulation in the US Kevin You're the one invited to these hearings You're the one on the phone with these Regulators what is the timeline and what Sort of Regulation should we expect so Let me give you the um what's changed Over the last few months on the hill What's different now is and I spoke to The Senators at the FTX hearing after We'd finished them and you know there Was a chance to just get a feel of the Tone of Washington there's a fatigue Coming into their thinking they're tired Of having hearings every six months when The next crypto company blows up and Goes to zero does that mean we just get Rushed to resolution I think that's What's going to happen the heavy hand And getzler gave you that tonality last Week on staking he made it damn clear That he doesn't like it and he on the Kraken deal he said we just shut it down
Now if you don't hear read The Room Everybody just look what I did I shut Down staking now that takes the value of Cryptocurrencies down a lot if they Can't be staked so this is the kind of Environment we're in the industry was Unable to self-regulate itself and you Know let's let's be honest every human Heart has greed in it and we are given The opportunity to issue worthless Tokens with no guard rails and you know The BNB and the ftt tokens those are Worthless and of course these exchanges Are going to go to zero because at some Point somebody calls the cash Transaction back to USD so right now Take for example B and B is 64 billion Of Market cap the only reason to own That token on binance is get a discount On trading fees what's the intrinsic Value of that token nothing It doesn't give you access to the equity Of the company now if you go look at the Wallets there's only two wallets that Have 97 percent of all of those tokens I Wonder who owns those what happens if One of them says I want cash does does Binance have 34 billion USD of cash I Don't think so so my whole point is These things will keep blowing up over And over and over again and finally the Senators are saying on these committees We're done let's put the heavy hand of Regulation down and that's probably a
Good thing long term So if you hold cryptocurrency let me Share with you what's wrong and what's Right with Kevin's opinion in my opinion First off I tend to agree that For Better or For Worse we're getting rushed Regulation for crypto in the US because Of everything that's happened in the Last few years Gary Gensler one of The Regulators closest with Sam bankman Freed has been embarrassed we saw how we Just shut down Krakens staking as a Service meaning no Nuance no middle Ground simply the regulation is that You're done it's not allowed of course In Gary gensler's eyes this is Protecting consumers while in reality The Innovation for crypto is just pushed Overseas so again in that aspect I agree Regulation is being rushed be ready Number two very quickly Kevin O'Leary Stated that BNB is going to zero in his Opinion because there's no real utility For the token other than discount and Trading fees for the exchange I would Say in a sense there used to be some Truth to that when there was just lost The exchange then over the years we have Seen this you know binance smart chain Is like ethereum in the sense that it's A Dap platform as well and we're seeing This budding ecosystem of dapps on Binance Smart chain emerge so this is The utility this is the use case and
This has grown substantially over the Years when Kevin says something like That I think he is just trying to make CZ the ultimate scapegoat as well as Deliver 2017 narratives in the year 2023. nevertheless Kevin O'Leary is the Person asked to be at these hearings He's the one in the room with these Regulators and we may see the SEC and Other regulatory bodies go after binance Because of these questions also Kevin O'Leary goes on to say why don't we turn Back on FTX just to see where the money Is let's let the public see where we Stand so since we last talked we know of A 4.2 billion dollar pool it's Supposedly the bahamians have supposedly We know of a 1.2 billion million dollar Pool of assets maybe cash the FTX us has Supposedly we know 400 million of cash Cash somewhere you add that up there's a Lot of shareholders and account holders Saying okay everybody let's talk about Where this money is and what everybody Wants right now and putting the real Pressure on John Ray is to say look turn On the exchange again gate it so no Assets can leave it so that each account Holder can see what they have or had and See the transaction records which we Still don't have yet and supposedly Again rumored is it's all backed up on AWS at Amazon and can be turned on in a Moment's notice alleged so to speak so
We don't know but the litigation is Piling on there's a thousand lawyers are Going to make a lifetime living off this Thing it'll go on for a decade or more And you know let the pieces fall where They may Now speaking of litigation as I stated Sam bankman freed has been forced to Reveal the names of his bond signers This is coming directly from the judge And as you may remember bankman freed Had two cosigners in addition to his Parents so his parents put up their House and they signed the bond but who Were the other two well it turns out That it was one a Stanford research Director and two the former dean of Stanford both put up the money Specifically it was Stanford's Andreas Who is the research director and former Dean of Stanford Larry Kramer researcher Put up 200 000 and former Dean put up 500 000 and of course Sam bankmanfried's Parents are both Stanford instructures So that's the connection so if anybody In the altcoin daily audience is Enrolled in Stanford right now let us Know down in the comment section what's The talk around campus of course one of The biggest factors for the Bitcoin Price the crypto Market in general is Macro and as of yesterday we got the February CPI data headline CPI Consumer Price Index came in at 6.4 percent
Higher than what was expected at 6.2 and Then core CPI where they take out food And other things came in at 5.6 percent Just above the expected 5.5 percent and What does this tell us it tells us that Inflation is stickier than expected we Are not going down as fast as expected And it should be noted we are definitely Going down here's where we are right now This is headline inflation and core Inflation taking on food and energy and As you can see yeah we're trending down We are a tick below where we were last Month and we're definitely down from the Highs of Midwest year now the goal is Two We're still at 6.4 and 5.6 so despite The eight consecutive interest rate Hikes from the FED we've seen in the Last eight meetings again inflation is Going down but it is a lot stickier than What we were expecting as well as We're still pretty far from the two Percent goal by Year's End to me this Says to me that I don't see us getting To two percent like Jerome Powell has Been stating by the end of the year Maybe three or four percent by the end Of this year and two percent into next Year and because of this sticky Inflation markets are now predicting That we do get more than just another 25 Basis points rate hike than hold markets Now think three more 25 basis point rate
Hikes to a terminal rate of 5.5 percent By June will happen followed by holding There until December at which point the Market thinks the FED will cut by 25. so Last meeting they said just one more Based on this data the market now thinks Three more then a hold for the rest of The year of course this is an ongoing Story we will get one more CPI data Report before the fed's next meeting Every day we get new data I will make a Video I will keep you updated we're Going to be talking again together about The next thing that went to is zero Because there's plenty of zeros coming To a theater near you until we actually Force regulation on this because who Wouldn't make a worthless token I mean Think about it why what do you need a Token for that's supposedly ownership in The exchange you're not allowed to do That in a bank you're not allowed to do That New York Stock Exchange if you want To buy a piece of New York Stock Exchange buy the equity of the exchange The same thing should be for any Exchange anywhere
