SEC Gary Gensler Attacking More Crypto | Bitcoin Hanging On

By | April 18, 2023

Welcome back to cryptos are us I’m George we’re all George so what happened Today well what happened is Gary Gensler Is attacking once again sued an American Exchange bittrex and he declared more Coins Securities so let’s talk about This big news and also what’s going on Bitcoin and should we be worried so Let’s do this welcome welcome guys Hopefully you guys are doing good Tonight let’s just jump right into this Big headline news and that is the SEC Charges bittrex Uh with unregistered operation call six Tokens or coins Securities okay so Gary Is not done attacking the crypto Industry Left and right left and right left and Right uh so uh bet tricks recently said That they’re going to they actually Announced something I forgot what they Announced just a few days ago I think They’re this listing uh or ceasing Operation in the U.S uh I forget which One but now it makes sense because the SEC is charging them with this and Bittrex used to be for those of you guys That are ogs in this space used to be The big daddy before binance was binance Okay there was bit tricks all the Projects wanted to get listed on bittrex In 2017 and then they shot themselves Absolutely in the foot because they Closed registration during the peak of

The bull run in 2017. that’s when the Likes of binance and kucoin and everyone Else came out Okay and bittrex had closed Registrations That was a really dumb move okay they Shot themselves in the foot they gave All the ammunition to the likes of Binance which is why binance Took control and just grew and grew and Grew but anyways once upon a time they Were the biggest now I don’t hear much About them anymore SEC is still charging Them okay but what’s more interesting is This Now as you see arguments complained that OMG Dash which is a privacy coin no Surprise you know ICC does not like Privacy coins algoran And then a few other monolith Naga and Iht real estate protocol never heard of Those before but the big name in here Is algorand okay so algorand is now Officially Uh declared to be a security by the SEC Okay so that’s the bigger news okay so I Know a lot of you guys are algoron fans And Um you know there are promising L1 they Have a promise the ecosystem very Growing very rapidly in Latin America They did have a nft partnership with uh The World Cup right but here’s the Interesting thing here’s the interesting

And this this video is circulating so I’m gonna play it for you guys But you know Gary himself Talked about algorand and supported Algorand so I don’t know Why he’s changing his stance It’s just Tough you could create Uber or lift one Top of a blockchain technology today Well maybe in five years you could it Would be have the performance uh Sylvia Mccallie’s algorand who’s a touring Award winner at MIT that I work with um Sylvia’s got a great technology that has Performance you could create Uber on top Of it the question is then who would Update the song So you could see You could see he was saying very good Things about algorand because it was Created by someone that attended MIT Which I mean it seemed like he was Friends with Gary right so that’s the Thing like why go after algorand right Now I don’t know I don’t know what’s Going on right and what is his reasoning We don’t know right at least we don’t Know just yet maybe there’s there’s Going to be reasoning coming out but Anyways so this is what happened today Caused a little bit of scare right and This is why this even this morning I Covered how there are Congress people That’s trying to come up with Legislation to basically fire the SEC

Chair fire Gary gunzer and basically Replace that position with just a Director that reports to a board so you Don’t have an uh a single person okay That’s making all the changes or Declaring whatever they want to without Oversight basically what this is trying To do is bring oversight to the person That’s policing all of crypto right now And all stocks and everything else right So there’s a lot of stuff Happening Um so yeah there’s that okay is Gary Overreaching once again I mean he’s Facing battle on so many fronts he feels Like he can just attack everyone at this Point right and we’ll see but you know What I think this all hinges I shouldn’t Say all but Um but this big nasty lawsuit with Ripple if Ripple wins you know that Gives a fighting chance to all these Other projects that need some kind of Defense against the SEC and if Ripple Wins they could share their playbook and Everyone else will know how to defend Themselves against SEC but right now Everyone’s in the dark because the SEC Is not really giving them anything Um and that is why it’s uh it’s it’s Unfortunate right now so that is that is What’s going on okay but I Moving on outside of algorand and and Crypto projects that SEC is attacking

You know as you see uh the Bitcoin Saw some weakness right it’s down 29 400 I mean it’s really It’s really around the same point as it Was yesterday so it’s not really weaker Bitcoin is holding on but unfortunately We’re below 30 000 right but But You know what this is a time not to be Giving up Okay because uh just this morning I Covered about how 45 000 around the corner next month right And there’s more charts more metrics That support this Theory here’s one is The r hold ratio this is basically Quite frankly just measuring a long-term Short the long-term holders versus the Short-term holders okay and just Basically shows the bullish sentiment of The market whether there is one or not But you could see whatever that ratio Starts dropping Guess what happens Bitcoin starts going upwards and you can Clearly see clearly see that that blue Line is heading downwards and look at The Past Times when you have that blue Line that ratio start falling Bitcoin Starts moving up in a big big way right It’s the same thing same thing that’s Happening right now long term holders Are becoming more and more and more Bullish

And they are not going away At all This is what we have to look forward to Also institutional investors look at This CME Group expanding Bitcoin and Ether options expirations after record Daily volume there are a lot of Institutions that are also getting Involved Okay that’s the only reason why CME Would want to want to increase their Options because there’s just so much Interest right now Right Tells you it’s not just retail holders That are fomoing but institutions are Also following and here’s another one This is looking at reservers again just Measuring how bullish the market Sentiment is right now and what the risk Is right with Bitcoin and you could see Previous times especially bottom times Drawdown times yeah Reserve risks not Good right but look at right now Again turning green getting out of that That risky level and about to turn Bullish right I already turned bullish But you can see again the previous times It has turned green the worst time the Worst time was actually 99 right but all The other times 487 566 6400 percent that is In the works So and then also

Again not just institutional investors Not retail investors but also whales Okay who’s kind of in between Whales are stocking up right now you can See the red it’s actually Just a while ago you could see that Maybe like a week or two ago you could See the heavy red for plus 10 000 Bitcoins so the whales are definitely Stocking up but now it’s kind of moved To people that have a hundred and Thousand Bitcoins that’s still whale Territory right that’s not a normal Person Um most normal people do not have 100 Plus Bitcoin right still heavy Accumulation All Around by institutional Investors by average sales retail Investors and whales right now right This is no time to be panicking no time To be fearful This is time to be bullish That’s right and Michael Saylor probably The biggest Bitcoin bowl out there Is now converting all microstrategy Employee emails to bitcoin lightning Addresses interesting interesting So the possibly the biggest bull on Earth had just turned more bullish on On bitcoin Um so there’s that all right now outside Of Bitcoin of course we still have a lot Of other crypto projects doing very very Well okay a lot of momentum that’s

Building up right we know that a lot of L2s l1s D5 plays are getting very very Hot right and one of those D5 plays is Actually Trader Joe okay on top of avalanche look At the last three months performance This this Dex is skyrocketing okay and They are the biggest decks on Avalanche So they have been moving quite a lot in Fact I saw this if you look at the Fastest growing decks is over the last 180 days Trader Joe is at number five Increase Thirteen hundred percent That could explain why they have been Doing so well within the last three Months okay so other ones like uniswap No surprise pancake swap doing very well Also right although their volume Actually started decreasing but they’re Still way up there and then you got Curve which is a decks mainly for stable Coins dodo and then finally Trader Joe So they are definitely heating up right Now and only helps Avalanche Avalanche Has also been going up for the past week Or so and that’s because not only Trader Joe is getting hot and other Tokens are getting hot within Avalanche But also they have their Cortana upgrade Which this is a test now right now but They will be releasing into the mainnet Maybe basically it makes Avalanche a Better chain right so Avalanche Trader

Joe and others within Avalanche Doing pretty good and Avalanche also Came out expanding in Asia also they Came out with their Evergreen chains Which appeal to institutions I mean There’s just a lot of stuff going on and Avalanche not only has a partners with Amazon but also 10 cent uh if I recall Correctly in China so they are doing Very well right now Also there is this new like T tnv true Network value which measures block size Number of validators and time to Finality basically how robust a chain is And Avalanche is rated number two behind Ethereum Interesting interesting so a lot of good Stuff happening within Avalanche right Now Also Polygon Starbucks is gonna launch their Season two or second nft drop this week Okay their first one Very successful I’ve heard people sell Their nft I I don’t even know what nft Coffees For enormous amount of money and now They are dropping their second nft Collection ready but guess what where is This on polygon polygon has basically All the brands launching Nike Nike is Launching on polygon they’re going to Sell a virtual box okay uh a digital box Uh for about

19.82 cents and the reason being if you Have one of these you can actually Um unlock digital versions of Air Force One sneakers sold in 1982 right so They’re getting involved with nfts as Well and others are already involved I Mean but again all this is on top of Polygons all these major brands are on Top and also Latin America’s biggest Investment Bank Just launched a stable Quantum polygon Normally with stable coins you hear them Being launched in other chains I think This is the first one Like you hear about it with ethereum Right but you don’t really hear about Them polygon Interesting interesting so now even Stable coins are coming on top of Polygons so polygon absolutely Beast of A project and it will continue to stay Strong And other and other l2s l1s like polygon Are only getting stronger too because The strength of ethereum so this is why I’m bullish on ethereum as well All right that is pretty much it overall The bad news of the day is of course This SEC charges more coins and tokens To be Securities right and uh and Obviously upset the market slightly but Um you know what we will get through This We will get through this all right let’s

Do some q a All right Uh scrolling down by the way I caught up To Picard season three episode nine I’ve Been watched the whole thing within the Last couple days if you are a Star Trek Fan and if you’re especially the Next Generation fan Picard season three is so Damn good Um I wish they started with this season One and season two are really wild Like it’s all new characters new Storyline it it was okay it worked but Not really season three just replaces One and two like as if season one and Two didn’t exist and season three really Picks off from the Next Generation Although it’s like 30 plus years 40 Years later it is so damn good so if you Guys are truckies uh you need to watch It so whoever recommended it Thank you Visa is awesome Awesome Um What would you do if you hold a big bag Of algo right now well it really depends On if you believe in them right they’re Not gonna get shut down because Obviously algoran is worldwide not just A us thing right they’re down five Percent which isn’t all that bad if you Think about it so if you believe in Algorand I would say stick with them but If you don’t

Then obviously Move Kematic do a 15x next ball run Uh Um Oh that’s gonna be tough 15x I think it’s possible I think it’s Possible 10x will give him 100 billion Uh 15x about 150 billion it’s within a Realm of possibility if there’s any L2 That could do it Uh polygon because certainly Fit that bill Steve yes you could just start season Three you don’t have to even watch Season one and two uh it really has Nothing to do with it there’s only a few Characters that carry over from season One and two but they’re not like if you Didn’t watch it it’ll still be fine Right it’s all about If your next Generation guy you gotta Watch season two three just just start With season three Um you got a tan going on I don’t think So because I’ve not been out that much Al Goran is actually a Wonder of a Blockchain technology they are they are They’re very promising little little fun Because Uh the founder did quit his CEO role and I think he just he wants to become more Of a engineer Uh I don’t know the circumstances why he

Left being the CEO but But algorand is still promising for sure But they gotta uphill uphill battle to Face now that SEC declared them a Security I’m talking about Picard season three It’s a show on Paramount Plus Did I watch the Star Trek with Captain Pike yes the brave new worlds yes It’s very good too all the Star Trek Shows on Paramount Plus have been Excellent uh Discovery also has been Very excellent too Norman thank you any thoughts on render Not a big fan of render Um I don’t know I just think renting GPU Space Especially on ethereum no good I know They’re trying to plan on moving to Solana But I don’t know for me it just Doesn’t make a whole lot of sense I’d rather be invested in l2s like Polygon or l1s like have like actually Polygons like L1 too but uh you know Like Avalanche I just cover them Arbitrum shows a lot of Promise Cosmos a Lot of Promise there’s there’s just Better plays in my mind If I had a thousand dollars to put in Couple d-gen plays Will I pick I can’t Reveal those right now

Is that I probably got in trouble Well FTX reopen They might they might They’re debating it whether or not to Reopen they recover a billion dollars Eight billion dollars worth of assets I Don’t know where But they got it back so I don’t know if That’s the complete picture how much They actually owe I don’t know but That’s a lot that’s a lot Uh do you think BDC sell-off was caused By US Government selling 10 000 coins no No and they’re selling in portions not All of it right away and they already Sold a large portion before there’s Nothing to do with it Jason crypto Crow I’m glad I’m glad Judd is a good guy I Think the The project overall has promised and I’m Really looking forward to season one Debuting and Filming of season two Recently I’ve been introduced to a lot Of projects within Cosmos There’s a lot of promising stuff Happening in Cosmos I’ll tell you that I’ll tell you that Cosmos is really Blowing up Adam Jones I hope you’re uh kidding Adam Says Gary is a stand-up guy leave him Alone Yeah he’s real stand-up guy you know

Defending algorand and saying how good It is and you could build the next Uber On top of algorand and then he goes Ahead and sues him Um for Declaration of security You know how does that make sense uh OMG Used to be a big L2 now no one talks About him they’re kind of controversial Because they sold themselves a couple of Times or whatever Dash you know once Upon a time was one of the biggest Privacy coins out there right I don’t Hear much about Dash these days but Algorand definitely the big one that They’re going after J.R.R I can’t repeat what you said but that’s Hilarious Um Top Gainer dive PS dipus Never heard of it Uh 21 with a 3.1 million market cap Wow why would coinbase list this project There’s something very suspicious about That Very All right let’s check it out let’s see It Uh A powerful decentralized ecosystem with A focus on scalability security and Global adoption through next-gen Infrastructure Another

Another L1 Um Another verse is becoming a reality Dapps Uh there’s a vault and staking I don’t know how they pulled out this Coinbase Listing I don’t know much about it other than They’re really Really trying to Flaunt their metaverse world Who’s the team Uh no one I recognize It’s I don’t need his life story I I need to Know his background and experience Yeah it seems like all these guys are Unknown in the space I don’t know can’t tell you if this is Good or bad but I will say this it’s Very low market cap Could be a d-gen play I guess but Because it’s listed on coinbase but I I Don’t know I don’t know if I trust it Uh Remington I don’t know who Lisa is But okay Just What do you think about the Waze Ai and Crypto can work together I think the Easiest way First of all is storage right now There’s already decentralized Marketplaces but

I don’t know how much data sharing it Really is right now between AI projects I think storage is is a very easy Like Evolution I guess or usage For crypto because Yeah storage is expensive right so that And compute also I think one of the Reasons why people are Um are talking about render is because People think oh you know you could rent All this GPU and create a AI with it or Something and possibly but I think storage is really easy and then Compute right If you had to choose Avalanche Solana Easy Avalanche not even not even close Grade a pump for your weekly show I am Too hopefully you guys saw it we got a Couple not a couple but we got about a Dozen of or so good projects that Applied Um we’ll have a better application Process for next week but for this week We’ll see I see people are still making fun of Bud Light And I gotta say I gotta I gotta agree With that Any thoughts of Yos I I don’t know he Was kind of dead in the water they were Supposed to Rebrand to Antelope I don’t Know what happened there they were Trying to sue for the 4 billion BDC Block one raised I don’t know what’s

Going on there I don’t know what’s going on Dios Interactive appreciate it Elon is creating some truth GPT I don’t Know what that is he’s really bitter Because he used to be A major shareholder of Chach EBT and Then solda’s shares were relinquish his Rights or something now that it’s big at Microsoft bought a big piece he doesn’t Like that so he’s gonna create his own Or something like that I don’t know what He’s doing with truth GPT but Um Yeah it seems like the advancement of AI Has accelerated drastically within the Last few years right Um I saw the 60 Minute thing Where they were interviewing Um Google and its Engineers about how Bard works and it’s funny that like the Engineers were kind of explaining the CEO Google is kind of explaining yeah You know we kind of know what it does But there’s this black box where where You know it does kind of things that we Can’t explain and it knows more than it Should and the interviewer is like isn’t That scary to you like You know why are you continuing and then He was like well we don’t truly Understand humans either like It was just really funny it’s like Exactly like T2 it’s like humans are

Building Skynet and they don’t quite Understand how it works or how smart it Is but they’re continuing to develop it Anyways right it’s exactly like that Right now Google is doing a barred Microsoft and chat and open AI is doing What chat CBT and many others are Utilizing Ai and we don’t really know Where this ends this could be the start Of the end just like the Fiat the dollar This could be the start of the end of Humanity because uh Yeah they don’t they don’t even they Can’t even explain the engineers inside Google can’t even explain how Bard knows Some of the stuff it knows think about It if they can’t explain that you have The smartest people that’s developing it And can’t understand how it knows more Than it should That’s a problem That’s a real problem right Um but again it’s a it’s a competition And everyone’s trying to make more money That’s what everyone’s worried about [Music] All right anyways let’s conclude overall Today Got more fun from none other than Gary Gunzler and no one likes that right but We will get through it hopefully this Legislation gets Gets put forth and we remove Gary Gensler from from position right but

Overall Bitcoin is still Looking good More volume more charts that show that We are going much higher so Stay strong my friends smash the like Subscribe to channel I’ll see you guys Tomorrow 8 30 a.m Central Standard Time And Dustin will government get away with Cbdc’s they will they will All right have a good one take care oh I have something really scary to show You guys about AI let me let me play it Right now [Music] What do you think about Ripple well I Mean I think it’s too centralized but I Definitely want to meet Chris Larson Oh [Music]