There are some pieces of news on celsius block 5 voyager a massive hack, and i want to talk about why you have to be careful right now and seriously what i am doing exactly with my kryptos. Now, if you dont mind hitting the like button and subscribe button, i really do appreciate that it helps out the channel if youve watched these videos before and youve liked them hit the subscribe button. So you can see future videos and turn on the bell notifications. So you know right when i post a video now theres also a link to a variety of different exchanges underneath the video, if you want to try any of them out, that also helps, or if you just want to know what im buying and selling you can Check out the link underneath the video to the patreon, so the cryptocurrency market is up 4.4 on the last 24 hours, a great jump. Obviously, ethereum is up 10, and this is after its been beaten down really hard. Bitcoin has been kind of sticking around the same level while ethereum fell underneath a thousand uh and its definitely been a rough go for everyone invested in crypto recently, but we have seen a little bit of relief this week now. A lot of people think that this is just kind of a dead cat bounce or that were heading lower, which its always possible, but dont forget that while bitcoin really has been unchanged over the last seven days, its actually been a great week for the stock market, The nasdaqs up 2.

4 percent today and over the last week, its actually up 7.34. So we had a terrible week last week, one of the worst weeks that ive seen in a very long time, but we came back and were actually higher than we were a month ago. Pretty significantly when we look were were really back to where we were in april, which is you know, not not fantastic, because weve still come down a lot, but it is getting better out there now in cryptocurrency were still seeing lots of liquidations pouring in but were Actually, seeing more shorts being liquidated over the last few days than longs now, this will get people to get a little bit. Greedy bitcoin will probably go up back to twenty two thousand. Twenty three thousand people will get greedy and then well have long liquidations and its just this back and forth game until we actually make a significant move now. Whales are accumulating now medium size to larger size, wallets, not so much uh, but we have typically seen that this is a good time to be accumulating. Under this 200 week, moving average and a lot of people said that they really wish they could get cheap bitcoin. Here here here here here here and now were finally getting that cheap bitcoin, especially when you think that over time, bitcoin becomes more valuable because theres more distribution theres more of a need for it over time. And that just means that getting it here at 20, 000 or 21 000 is a much better value than getting it back here around 20 to 21 000.

A couple of years ago now we do have a couple things working against us id say a handful of things right from inflation to fed war. Luna 3 ac regulation looming collapses in usdt recession, housing fears, stock collapse, layoffs, all this kind of stuff. We have a lot of fears out there, but i think were through the worst of it and cz does too and maybe not that weve hit our lowest point on bitcoin. A lot of people think were going to go for a double bottom. Maybe go back under and hit maybe 16 17.. Some people are saying 14. 15.. The fact is, though, that the worst part of the capitulation is over. I think personally, right, i mean think about all the crazy things that have happened and how much fear has really been in the market and cz says the worst is probably over. When we look at some of the crazy things that have happened from luna and ust collapsing, flushing out 50 to 60 billion dollars to celsius, possibly going bankrupt, it sounds like theyre getting ready to go bankrupt. This is just coming from the wall street journal here today. They are on the brink of bankruptcy, preparing for an upcoming filing by hiring more advisors. Now this doesnt necessarily mean you lost all your crypto. If they go bankrupt, i believe they have to start liquidating, uh their assets and then pushing out to different people. So its not necessarily a fully lost cause, but this has been terrible right.

A very centralized entity that you would think would be more careful now is going bankrupt as well, but this is what happens in a bear market. This is what happens when people get too greedy theres, just a flushing out and people get wiped out if theyre, not being careful enough like celsius was not careful enough now. What i found interesting, because i work with some of these types of companies right ive, never worked with celsius before ive worked with block fi. I still work with block fi. There are links to block file underneath the video they just secured a uh, a credit line. I believe it was or a loan from ftx. It was actually elevator research, but its all tied to ftx and they just updated their block fight interest account rates. Now i have not talked to them about this. I dont know why exactly theyve done this from their side. Besides what they say here now im going to tell you my thoughts on this as well, you can see theyre actually increasing their rates, which, to a lot of people, might be confusing after they just had to take a loan and theyve been trying to raise capital. It sounds like theyre actually increasing and paying more out new ap apys higher apys. So instead of 0.1 on 0.1 percent on your bitcoin lets, say you have ten bitcoin. Now you get two percent thats pretty significant. If you have a large amount and then ethereum same thing going up to two percent, if you have over five, you can have multi millions of dollars worth of stable coin and you can get six percent now.

So a lot of people are worried about this im. Sure, as well because theyre thinking does this mean that theyre more likely to go bankrupt or something like that now theyve also laid off some employees, which is interesting at the same time that theyre doing all this. Now i think, what theyre doing here and again i havent, talked to them. I havent asked them. I have not uh conferred with them at all. I think what theyre doing here is. They know that they cant bring more clients in because they froze these types of accounts, and i think what theyre trying to do is stopping clients from leaving, because that is a part of their business is loaning this out to other clients, and i think what theyre Worried about is with celsius and with voyager theres, a lot of fear with any kind of interest account and im, assuming theyve seen people pull money out and you cant put more money in so im guessing now they have less to work with with clients. But that means that they can pay a higher amount as well right if they have a million dollars. Lets say of deposits and clients only want 500 000 worth and theyll pay interest on that. But then, all of a sudden, they have 500 000 worth and then clients want 500 000 worth well. They can pay all those rewards to the people that have their money in as opposed to having a lot just sitting there not doing anything, and then they still have to pay rewards to everyone else.

So theyve gotten probably a little bit leaner in these accounts, which means that they can pay a higher interest rate, and now they say that this is because of effective risk management, decreasing market competition and changing macro environment. So this is kind of interesting, also, probably because of the fact that everyone is increasing their rates, so they can do something similar right, uh, just the cost of borrowing money has gone up as well. So i find this pretty interesting that theyre doing this and theyve always done this theyve gone higher theyve gone lower, they do change with market conditions and they did liquidate three arrows capital because they actually had collateral unlike voyager. So i just wanted to cover this because they are a partner of the channel. I, like i said i find this really interesting, that they are going out and kind of doing the opposite of what most companies would do, and most people would think block fight would do at a time like this, so they are trying to bring back their interest Accounts, i know that thats something that they really were proud of and that theyre getting a lot of clients for so they are trying to work that out with sec, hopefully by the end of the year now, voyager also came out with some news, and i wanted To give you my update on this, because i do have money on voyager still, i i sold a lot of my crypto.

I uh withdrew a lot of my crypto as well, when i heard about some of the the concerns over voyager and three errors capital. This was before it was announced. I kind of saw the writing on the wall and i started to withdraw. I started to sell and i got a significant amount out of voyager, but i wanted to bring up that. They had lowered the withdrawal limit to 10 000, but also ive noticed the withdrawal. Time has gone up so uh. Maybe two weeks ago i withdrew some money and it was available. I believe it was in three business days now its been four or five business days, since i did my last withdrawal and i havent seen it so even though theyre theyre lowering the withdrawals, i think they are delaying a little bit how long it takes to withdraw Money which is a concern as well, but they did get that large credit line from ftx, so i think itll be fine, but they say that it can take five to ten business days in the past. It never took five business days now. I think theyre trying to spread that out, so it will be interesting. I wouldnt be surprised if voyager got bought out by ftx, especially because theyre so cheap theyre under 100 million dollars in market cap right now. If we actually pull them up right, they have a significant amount of assets. They had millions of clients and theyre.

Around 120 million market cap theyve actually come up a little bit since theyre low a few days ago when they hit like 40 cents or something like that, but they were worth at the peak 20 to 30 dollars right. So this was a very expensive company compared to now its gone down 98. So i would not be surprised if ftx try to buy them out for basically pennies on the dollar of what they were worth a year and a half ago. They were growing like a weed also, so, if ftx bought them out, i think they might have to work on the regulatory regulatory side, because right now, theyre canadian company, they can still pay interest rates or they still are im not sure if they would be able To if ftx bought them or what they would do there, so its going to be interesting to see what happens with this, but ftx offered them 250 million dollars and they could have bought their whole company for that, maybe maybe they think that they uh should do That as well just to stop the spread of contagion and the fear and selling off of assets and all that kind of thing, maybe theyre just trying to stop the bleeding and offering loans to our lines of credit to voyager and block valley just to protect their Own assets because they are worth so much more, but it would hurt them a lot if someone as small as voyager went down still, it would hurt him a lot so maybe theyre giving that loan out just to stop the bleeding for their own company.

But ive got to think that if theyre giving 250 million dollars that they think voyager can get through this right, i would not be loaning someone 250 million dollars. If i thought they were gon na go bankrupt, uh, so its gon na be interesting to see what happens after all, this settles down, but this has been a crazy couple of weeks now. The craziness is not stopping here. Uh theres been a big hack here today that i want to talk about a hundred million dollar hack, but before we do, i do want to talk about these accounts real quick. So this is kind of my thought process and ive. Had some people ask me like, how can you still talk about block fi? How can you talk about ftx? How can you talk about anything anymore? Besides, cold storage now ive said several times and ive had some really nice people in the comments section say: hey. Let us know what cold storage device youre going to actually get and use, because we want to do that as well and ive gotten some people. That said, oh, you didnt get a ledger. Ive heard all i need to know im not going to watch your videos anymore. There are two basic uh two different hardware wallets that i am really considering the ledger and the tr and the treasure. Those are by far the two best wallets uh ive tried other wallets as well, but those are, i think, the most secure uh.

I have a ledger, but i am having a technical issue im trying to talk with the people that work there. Uh ive been kind of thrown around a bit so uh its it hasnt worked out perfect so far, but i am also trying to get in contact with treasurer as well to try out their cold storage device. I might just buy one anyways, but i was gon na see if i could reach out and talk to the team first, so i am still trying to decide there. I still have a good portion of my assets on exchanges. I mean thats, just how it is. Uh, i have a lot on block fi. I have some on block by, i should say i havent really taken any money off block fi i havent over the last year, or so i have more on binance and then i have more on ftx as well. So i really do have a lot on those couple exchanges and then i have been taking money off of some of the smaller exchanges. Im still testing out small exchanges with small amounts of money im actually going to do a review on exchange here in a week or so. I still think that a lot of the exchanges will be fine theyll. Actually, the good exchanges will probably grow and you wont see that, because all the assets are losing value and not too many people are investing, but theyll gain more uh theyll gain more clients and as a lot, the other companies just die off.

Theyll theyll get more clients over time as well. Theyll get the clients of like celsius and voyager more will flock to the bigger companies, so i just think thats how it is. So. I am testing out some smaller exchanges because i realize that were going to get through this and i i just want to have a better feel for some of these other exchanges kind of on the fringe, but im not doing anything thats super risky, i mean you Can say what you want about the risk levels of different platforms, but i dont think that theyre super risky with the amount of money that im putting in. I mean its not even a half a percent in some of the really small exchanges that im testing out. But then i do have more on some of the big exchanges that i think have a lot of money on the sidelines now i just wanted to give you that update. I know thats not the sexiest thing to talk about or anything, but i think it is valuable and its something i would talk about with a friend or something if they had money on these exchanges. Uh. Just keep that in mind. You never want to put more on an exchange than you can afford to lose as well, but also there are risks with cold storage as well, depending on what kind of investor you are and how good you are, with keeping track of things now lets move on.

We have news of harmonys horizon bridge hacked for a hundred million dollars. The later one blockchains main bridge between ethereum finance chain and bitcoin has been exploited for nine figures, but says its bitcoin bridge has not been affected, so this just happened this morning. Within 18 minutes 11 transactions were made from the bridge uh for various tokens. They have since been sending tokens to a different wallet to swap for eth on the uni swap decks. Then sending the e back to the original wallet theyve been hacked for 100 million dollars now uh cz or no, it was uh. Vitalik buterin talked about the risks of these different kinds of bridges in the past. Its its gon na be interesting to see what happens after this uh harmony is a big cryptocurrency and actually they have been hurt. Pretty bad from this news. Theyre down six percent on the day with a lot of other cryptocurrencies moving up, but these other cryptos havent really been affected, besides harmony, the ones that were in that hack now, like i said overall pretty good day in the market really good day in the stock Market and a really good week in the stock market, especially depending on what stocks youre in uh a great day in cryptocurrency as well with ethereum up ten percent uh solana was up eight percent, definitely a good day overall in the market and, like i said, i Think that the worst is over not necessarily that weve been at the lowest price, but again weve seen the worst amount of fear in the shortest amount of time i mean heck.

Lets lets look at this real quick. Where was bitcoin a month ago, one two three four bitcoin was around thirty thousand and we were bouncing off previous lows from a year ago. Right we fell forty percent. Within a few weeks. We had massive liquidations. We had this is after the luna collapse as well, but then we have centralized exchanges. We have hedge funds, multi billion dollars on each just being liquidated, uh selling off assets and going bankrupt. So i mean we can always go get worse from here right. There can be more liquidations, um, more stuff that comes out, but ive got to think. Ive got to think that this is uh, the most fear that weve gone through in the shortest amount of time. We were at 48 000 just a few months ago. This has been historically a great time to be picking up. Of course, you have to know that youre taking on risk all right, we always are taking on risk when we invest and cryptocurrency is more risky than investing in stocks or bonds or real estate. But i think it still has a lot of upside depending on what you buy and when so let me know your thoughts on this underneath in the comment section. Thank you so much sorry. This was a little bit of a longer video today, but i want to give you my honest, open thoughts and, depending on where your cryptocurrency is, it is in danger, so you have to take uh, you have to take precautions and you have to be thoughtful with What youre doing with it and where youre, putting it, how youre sending it all that kind of stuff just be careful out there? This is not just going and buying a stock and putting it on some exchange.

Thats uh thats got insurance on it. Everything is on the table in cryptocurrency. Anything can happen. Lets turn this weekly candle around and turn in the green for the first week in a couple weeks, and with the exception of this week for the first weekend, like 12 weeks 13 weeks, lets do it. Thank you so much for watching.

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