THE SEC IS DESTROYING THE CRYPTO MARKET. HOW TO STOP IT.
People like you and me, and we are up against the sec and if it wasnt for the sec sticking their nose into everything and just messing everything up this market would be vastly increased than what it is right now so well talk about that. Well also talk about some good news: uh uh, as far as like ukraine, legalizing cryptocurrency, also india, getting into the fray uh with more regulation positively and then well talk about uh. What would happen if everything became a security and well talk about the celsius? Token and some interesting information that my friend alex masculi talked about because he has had a tussle himself with the sec and finally well talk about a little partnership between ftx and tom brady. So well do all those things, but first take a look at whats. Going on in the market, so today its not a bad day, uh were at a mark cap of 2.12 trillion bitcoin price, holding steady at around 46 000. everythings, just kind of just going sideways and well see what happens. Some people think were due for a bear market. Some people think were going to trade sideways for a couple weeks. Then blast off and some people say everything just go to the moon. I cant tell you what its going to be, because i dont have a crystal ball, but i can tell you right now, statistically, if what im going to do actually is just hold. But statistically, if you uh, do a lot of holding.
Usually things work out pretty. Well, but it is up for you to decide what you think is best for you and, of course, your goals are not my goal. So what i really want to do today is just jump right in and just talk about what the heck is going on. So i want to start off with this video and the reason why im bringing this to everybodys attention its not because its like a news flash or something like that. We all know the sec is the sec im just going to believe it at that. But i just want to emphasize how much farther we would be if they did their job and they gave us clarity and im gon na talk to you right now. Uh. This is from uh uh squawk box. This is rick rider, hes, one of the cios for blackrock. You know, blackrock are the ones that have like almost 10 trillion of assets under management and listen to what he says about cryptocurrency right here rick, you have been a proponent of crypto uh. I think within the firm – probably more so than many others. Where do you see that now we talked about what el salvador did this week, but it speaks to all the issues that youre dealing with here, which is which is what are real rates? Whats the value of money, so so you know thats a tricky subject. So, first of all ill say the first thing i will say on crypto: you know people describe it as a hedge or an alternative im, not sure its a really great hedge.
I mean the correlation to equities the correlation to risk assets, im not sure its a great hedge, by the way, so when an acid moves 10 to 15 percent a day really hard to hedge big organic asset pools with that as a hedge is it you know, Is it an alternative currency, listen ive, said and ive said you know, ive said it with you andrew, listen, part of why i own a small piece of bitcoin is. I do think there are more people that are going to enter that fray over time. We have a very moderate position in our portfolio. I like assets that, quite frankly, are volatile that have upside convexity and i could see bitcoin like its done. I could see it go up significantly, but listen, i think its volatile. I dont think its a core asset class like like bonzar or like stocks or, but i think its you know to have a bit as more of a speculative tool in a portfolio yeah. I think i think theres some value to that. So, first of all, if this would have been 2017, this would have been laughable for the blackrock cio to come out and start talking about how they have a moderate position of bitcoin or cryptocurrency in their portfolio. It wouldnt have happened and all of a sudden here we have a step. The same thing happened with jp morgan, so really whats going on is this would have actually been advanced if he just would have known or other institutions would have known what is a currency in as far as cryptocurrency and digital assets? What is a commodity and what is a security if they would have known those things they could have jumped in probably a lot harder, and in this video he pretty much said all those three things hes like i really dont know, because the sec is not doing Their job – and that is the real problem whats really going on here – is they are doing enforcement through regulation, and that is not the whole end all be off what the sec should be doing, but theyre doing it, and here we are so that is just there To start off with, and what i really want to get into is this piece right here this was uh article drop today.
Sec will stop at nothing to control the entire crypto space, says former federal prosecutor, so whats going on here. Let me just blow this up. So you can see it uh. This is feilin uh. His name is uh james k filing you can follow him on twitter. Ill link in the description below and james fawn is an attorney specializing in securities litigation and government investigations. He states this because he knows these things: the sec will stop at nothing to control the entire crypto space. This isnt, just about ripple coinbase, accuses the sec of using intimidation tactics behind closed doors to stop the company from launching a lending program. Coinbase stated this: the sec told us they considered lend to involve a security, but wouldnt say why or how theyve reached that conclusion? They just want us to shut it down. Theyre going to sue us, the sec is also reporting, reportedly investigating uniswap. So again, whats going on here is that essentially the sec just going look uh. We only have the uh uh everything that we should have as far as like uh clarity, but were just gon na sue, the pants off you, and so just dont. Do it. How can you possibly do that – and this was actually uh brought to light brian armstrong, ceo of coinbase – and he just said this in in one of 21 tweets and a big long thread ill link in the description he says: look if we end up in court.
We might finally get the regulatory clarity the sec refuses to provide, but regulation by litigation should be the last resort for the sec, not the first and really what its coming down to is hes. Like look, i think we should go to court and i think we should battle it out, so we can get some clarity and thats really what i feel its all coming to now, a lot of people will say this theyll say you do not want to tussle With the sec, but its inevitable anyhow theyre going to come for you anyhow theyre, like mafioso, so its like. If youre youre going to have to stand up to him anyhow because theyre just bullies and the only way to beat a bully thats to punch him in the face and thats really what it comes down to dont. Tell me in the comment section that i offended you, because i told you to punch someone in the face its really its just a metaphor, but really what it comes down to is this: if you, if the sec would have just taken a little bit of guidance From what had been happened in the in the past as far as like the internet, this would have all gone away, and there was this law section 230, which was passed 1996 and says an interactive computer service cant be treated as the publisher or speaker of third Party content, this protects websites from lawsuits of a user post, something illegal, although there are exceptions – and this was the law that gave us the internet.
That said, heres a little bit of regulation like ive, been talking about on my channel forever, were not going to overdo it. Its like cake, a slice, is okay, a whole thing will a whole big bunch of cake will ruin your night. If you do these things. Well, just be hands off and thats the whole thing that thats coming down to and then people will have their theories about why that is, but really what it comes down to is this: the sec is just coming out and going were going to do this. This and this and were not going to be guidance and thats how it is so, when im talking about these things, i want you to be aware of where we could have been if the sc just would have done their job and gave a little bit of Clarity, i was a medic in the army, so i can just tell you like we were big on triage right. Just is this person going to make it theyre not going to make it this one is, is critical or not its the same thing that they could have done over the sec, the cftc and the occ just go look. This is a commodity cftc. This is a security sec and this is a currency office of the control of the currency. Just do it like that very simple, very, very easy and thats. What could have been done now, if this lights, a fire under your under your belt and youre in the united states, go and reach out to the sec, reach out to your representative, you reach out to your senator and tell them what they should be doing so That is it for that section.
Let me know what you think in the comments, because im sure im going to get some good ones and lets move on to our next piece. As far as like good news, this is what u.s should be doing so cryptocurrency doesnt pass them by so forth. The ukraine is more america than america good job ukraine, so whats going on here, uh the ukraine adopts lawn virtual assets to regulate crypto market. Congratulations, russia! The law in virtual assets recognizes cryptocurrency as intangible goods, while denying them the status of legal tender step in the right direction, theyre giving them clarity of what it actually is in case. These assets are backed by currencies. They will be regulated by the national bank of ukraine, which is the countrys central bank. If the underlying asset is a security order, derivative, the national securities and stock market exchange will be, the main regulator makes sense. Crypto market participants will be able to independently determine the value of virtual assets. Open bank accounts to settle transactions and seek judicial protection for associated rights. I never thought i would see the ukraine outdo united states for being freedom, but here we are and uh. Congratulations because thats pretty much how it should be done because thats what people want you work for us, not the other way around and thats how it should be. Let me know what you think about that in the comments lets move on to our next piece, india.
So indias been going back and forth for regulation, but over the last couple days, theyve pretty much said: hey were going to be were going to give a little regulation and were going to move forward in our own indian fashion. So indias cryptocurrency legislation will be distinct and unique, so whats going on here, uh jan singh. I think i nailed it. Sinha is a chairman of indias parliament, parliamentary standing committee on finance states. It is not possible for india to adopt the crypto policies used in advanced economies. I used america and advanced economies loosely, but he states this. We have to balance stability and growth, but we recognize how important this whole area of crypto is and then uh this one. I thought was very interesting: a former deputy governor of the reserve bank of india. Our gandhi said this: crypto must be regulated as an asset or commodity in india and governed by existing laws. Once cryptos are accepted, rules governing commodity exchanges could apply and the coins could be used to pay for goods and services, which makes a lot of sense. Then automatically people can start buying, selling and holding, and this is according to recent reports, indian government is planning to regulate crypto assets as commodities and by use cases again, theyve got it down. Pat this was the article and they stated that the cryptocurrencies were treated as an asset commodity for all purposes, including taxation, as per use case payments, investment or utility.
So look if other countries can get on board and they figured it all out. I just dont see what the problem is with the united states. Well, they cant figure it out, but i will tell you this uh. If you let it sleep and you let it pass by uh, just expect all these crypto companies, all these bitcoin mining places all the different places just to say, you know what this isnt good for us and were out of here. It happens everywhere in every country. See tax laws when you over tax people and things that happen. So let me think about that in the comments thatll be good and lets move on to our our second to last piece, and this will go pretty fast. So i was talking to alex masuoli uh over alice max alex masculini show. We talked about, i said whats the nuclear option here alex what, if everything becomes a security lets just say you know, sec goes all cryptos of security. He goes. That would be very bad. Rob – and he goes because because he was head of institutional investment over a b quant services – traditional finance guy – and he goes if this happens. He goes its not bad for us for the people, but you have to understand for every single project out there they were selling unregistered securities. On top of that, all the exchanges were selling on registered securities, and i said well: why would they do that alex? Why i knew the answer, but i want him to say it and he said its because they want money rob its because they want a ton of money and theres a bunch of money in fines.
He goes ive tussled with the sec, and i will just tell you this every every time you want to do this. You just want to pay the fine and move on, and i said well is it like double jeopardy like if you, if they find you you can just move on? They cant come back hes like no thats the beauty. They can come back at you again and again and again and again again, mafioso so im like why dont we just take this to court and just say you know what im all in lets get all the all the uh lawyers that we can possibly get all The different uh people that we can actually stand up for this and just go lets bring it in and lets just get this out on the table and get this done now and we can move forward and get some clarity. I know people think its a dumb idea. Uh i dont care uh because look ive been sued before ive talked about this in the channel and uh you can let people bully you for as long as you want to, or you can just stand up and go. You know what, if youre gon na come at me, you better come correct, because im gon na come as hard as i possibly can and then well see where it all uh lands. When the dust settles thats all im saying anyhow, so that was alexs uh uh snippet, i was gon na get him on the show, but he was too busy going to a football game.
Good for alex works his ass off all right. So this i thought was interesting: uh alex mashinsky friend of the show celsius thinks cell wont, receive the same sec treatment as xrp and theres just a couple of things uh he states this. We did not determine that cell token is a security machine. He said an interview with coindesk uh. What we said is that, because were not sure what it is and its not clear, because the regulations are not clear and were going to talk about that were going to file it as if it were a securities and people like so are you saying celsius is Security, yes thats it, and this was back in january 15th. So i did a video on this about seven or eight months ago on the website used to be able to find it when you, when you scroll down on celsius.network, there was a thing here. It said sec its not there anymore, but you can still find it if you just go to sec.gov forward slash, edgar ill link in the description, if you put in the company name, i just put celsius and celsius network pops up, theres, three different things, so you Got d.a notice, d notice of sales of unregistered securities and d notice the sales of university securities. This is on july 13th. First, i was like well. Let me make sure i got the right thing. So what is filing a form d – and that is let me blow this up so form d – is use to file notice of an exempt offering of securities with the sec.
The federal securities laws requires a notice to be filed by companies that have sold securities without registration under the securities act of 1933 and an off remain under blah blah, whatever a company must follow notice within 15 days after the first sale. So when i came back here – and i clicked on this – i just want you to notice that this is celsius network, united kingdom, the last five years, first name alex mashinsky london, uk, and then we got daniel leon, patrick martin uh, who are the rest. These guys are and then whatever, and what it states right down here. If i keep going type of security, is offered click other digital token combination tracks, yes, minimum investment accepted 25 000 and then sales compensation, none of none. So really what celsius did was pretty smart. They go, we dont know what it is and you guys dont know either and you cant get your stuff together, so were just going to say as a security and then were going to file it with the sec and thats it and thats uh. So i mean, as things come come forward, i mean: maybe celsius would be the only ones that is actually protected, but we will see but uh. I just dont see them going through everybody and going its its a security security security uh. They could do it and thats a lot of money, but i think whats going to happen is were going to see snap slaps on the wrist and so on and so forth, but it is really just bullying and thats it for so.
Let me just think about that that piece, i thought it was interesting that cells use a security thats, probably a smart move, and lastly, i want to talk about. This is a great commercial and ill. Let you watch it and you decide if this is good for mass adoption. This is from ftx uh sam baconfried genius over there whos big into well solana. We know that, but uh this is a great commercial with tom, brady and friends and uh check it out. Can i talk to you about something yeah we talked about it. I got another 10 years left, maybe 15., not that this is big. What do you think? Are you in you know what man lets call everyone hang on. Ah, how dare you call this number? Okay, im in whatever whos that that was my mom, hey donut dont eat this young man. Yeah sounds good. I meant im in hey, arthur. I quit im in t bone sitting, downstairs toilet again, hello, tom doggie coin sue mark. Are you in im in im in im here all right, this last one might be tough nah. He loves you margarets, getting on the dentist this guy first, even if you wanted to go back, we wouldnt take you. Yes, you would yeah, we would youre right. We would whats up im getting into crypto with ftx. You ready were providing, gives 360 degree access to the crypto markets, with the ability to trade everything from alts to defy believe im in, but still hate you understood, take it best of family.
Is he in yep? Did he say he hates you? He did even on the phone that guy sounds handsome genius genius, commercial, great job, uh a little bit better than the best voyagers with uh rob gronkowski. I like this one, a little bit better and uh, so it was so uh. That is what is going on in today. So some bad news, some good news depends on how you take it and thats really whats going on. So look ive made all the way at the end. First of all, thanks for sticking with me, i appreciate it if you liked the video give it a thumbs up all consider, subscribing all the things to talk about time. Sensitive go over everything and thats it for today.