Tether denies false accusations about their commercial paper portfolio and Celsius. Investors get hot, so our assets remain Frozen, including me, my name is Ben. If youre, not a crypto news, wrap up lets, get it given the number of tokens that is traded by a coinbase or binance or whatever some non zero fraction of those tokens are securities that should be under the jurisdiction of the SEC. Then it should be that should be far under the jurisdiction. We are not looking were just looking out for the retail public and were not looking to extend our jurisdiction, but these tokens are being offered to the public and the public is hoping for a better future. Thats the characteristics of an investment uh contract when theres an entrepreneurial group promoting it, an entrepreneurial group, thats, thats, uh, the investing publics, relying upon and so and weve said well use. Our exemptive Authority well work with these exchanges. I call them platforms because they also trade against their customers theyre asking actively acting like those wholesalers. Weve talked about a few moments ago, where they take custody and they trade against their customers. Did you hear what he said you cant make this stuff up Gary the Rat ginsler same guy, who wants to alienate over 200 000 small farms from working with large corporations? Same guy whos, delaying his inevitable loss against the xrp Army to say face the same guy? Who wants to call every project he can in security, said that hes looking out for the retail public and not looking to extend his jurisdiction? I havent heard a joke that funny since last day, Chappelle special, how controversial in the virtual CFO Network Summit yesterday ginsler told the Wall Street Journal that there is an urgency to regulate the crypto space.

Given the recent turmoil and prices and Platforms in the interview, he stated that he has brought 80 to 90 enforcement actions against crypto projects and platforms, but at the same time he feels that most of the few thousand all coins in existence for all Securities. My question is: when will it end its all about protecting the public right dirty Gary? He cites the withdrawal halts with binance and Celsius as examples to back his point, but if my memory serves me correctly, werent there withdrawal halts with meme stock situations just last year. This guy is the living embodiment of a double standard. If crypto wasnt a threat to his precious Legacy system, we wouldnt have to hear his voice. Well, wouldnt that be nice. Clear regulation is obviously necessary for the future of crypto, but not when it comes from two faced. Politicians who claim that their main priority is protecting the investors know this. The system set up to protect investors is our biggest threat. Now lets pass the mic Frankie candles for a market update thanks Ben all right guys, lets jump in and do a little market watch here. Weve got Bitcoin coming in at 22, 566 dollars up one and a half percent on the day, eth coming in at 1223. Up about one and a half percent on the day and lets go ahead and check our top movers for a change as were seeing a little bit of green in the markets.

Weve got basic attention token up 22 on the day, not too bad Eagle up. 21 Bora up 17.9 Theta Network up 17 helium up 16.6 and last but not least, eight coin up 15 and a half percent on the day. Finally, seeing some green in the markets now Im not getting too X excited just yet, we did have some bullish divergences. Popping up on the four hour and some of the lower time frames, which was foreshadowing this move. But what Im keeping my eye on is a potential bullish, Divergence forming on the daily chart for Bitcoin, as well as a bearish Divergence forming on the dxy, which would be bullish for Bitcoin. You guys want to follow me. Its Frankie candles on YouTube or Frankie underscore candles on all socials back to the news. Thank you, Frank and a recent blog post, stablecoin Powerhouse tether, denies several allegations that were created to spread and induce further panic in order to generate additional profits from an already stressed Market. The biggest fun rumor they denied was that their commercial paper portfolios 85, backed by Chinese or Asian papers and was being traded in a 30 discount to prove the rumors were just rumors. They provided an assurance option that shows that over 47 percent of their reserves or U.S treasuries, they also stated that the 25 of their backing those commercial papers will slowly but surely decrease to zero and the expired commercial papers will eventually be rolled into U.

S treasuries. They denied other rumors against lending exposure to three arrows capital and what leads us to our next story – tether has stated: celsiuss position has been liquidated with no losses to tether. Tethers lending activity was Celsius, as with everyone else has always been over collateralized. They ended by saying they currently have zero exposure to Celsius. Besides one small investment made out of tether equity in the company for obvious reasons, tether is a big Target for fud, because if they failed, the results would be devastating so Im glad they got in front of the problems before it got any worse. Now, as you might have heard, Monday lending platforms Celsius suspended, all withdrawals on Monday and users are still not able to access their funds. Its obviously a bad look for crypto, but bear markets have a way of stomping out those who dont have their ducks in a row. Their problem started earlier in the year when they stopped giving their good returns to anyone who wasnt an accredited investor. A few months later, the rumors started flowing about how they mismanaged their funds turns out. The room. Rumors were true. Celsius has serious liquidity issues, ironically, the suspension on their withdrawals came hours after their CEO, Alex machinski responded to flood by saying fud. Do you know even one person whos had a problem with drying from Celsius? Well, I do know Alex now. I do know its me. Celsius is now hiring a restructuring lawyer after they turned down, nexos offer to buy them out, but the damage is done and the trust is lost.

It is obliterated. Hopefully, all their users will be able to get their funds out sooner than later, because of a mount got. Situation happened in 2022. We would never hear the end of it old, Skeletor himself, dirty Gary Gensler thats.