Welcome back, everyone. I am Cass PNC.
I'm joined as usual, by my partner in crime, Mr. Bennett
Tomlin. How are you today?
I'm doing pretty good. How are you, Cass?
Doing good we are going to be talking about.
I feel like this is just a topic that never goes away as much as
I want it to. Our boy Justin Son and his
stable coin, True USD. I guess I shouldn't be saying
his stable coin, but that's what we all know it as at this point.
But yeah, we're going to get into all the weird shit that's
been going on with it. It's been just a strange even we
were talking about it last time with the data Finavation boys.
There's been some weird updates, the lawsuit, etc.
So, so let's start, Let's start there.
Let's start with the lawsuit. Sure.
So just for some context, last time we talked about this with
Jonathan Reiter and Patrick Tan. The world, or at least the
knowledgeable connected world, assumed true USD was connected
to Justin's son. We knew Justin's son was a
partner market maker, but we assumed that since December 2020
when Tech Terex bought the brand name, that Justin's son has
owned it, but that was not publicly known.
In the interim, since we did that last episode, a couple of
things have been revealed. One of those things, as you
mentioned is that former Trust token CEO.
Daniel Jiang on is suing Arch Block, formerly Trust Token, and
in the course of that lawsuit includes some conversations,
negotiations and information about a period in 2020 when the
Tron Foundation was trying to purchase True USD in a in a deal
that was being negotiated by Can Son, a lawyer, and Justin Son in
the Tron Foundation. To purchase true USD.
So that came out. The other piece of information
just before we really get into this conversation is Adam
Cochran, a venture capitalist did some digging into True USD
and identified a bunch of other links that show up like it seems
Jennifer Xiang may also be on some of the BitTorrent related
companies. And stuff like that and has all
these other pre-existing connections to Justin Son which
really kind of undercuts their December 2020 statement that
Justin Son has no involvement at all.
So those were like the two pieces of information that have
come out. They've taken it from Justin
Son. I just want us to hit the.
I want us to hit the brakes here for a second.
I just want us to hit the brakes, throw the car into
reverse, because I think we've we've kind of jumped into a lot
here. I know we've talked about true
USD, we've talked about these stable coins before and I know
that a stable coin, as far as complexity goes, it can be, they
can be very complex and they can be not complex true USD at what
its base value is it, but what it's supposed to be, it's
supposed to be one of these simpler stable coins.
So that isn't what I want to get into us reversing and
discussing. I do want us to talk about True
Phi. I want us to talk about Arc,
Arc, Block. I want us to talk about these
entities that have been and Tectary XI want us to talk about
these entities that have been popping up doing one or two
things, disappearing, rebranding, renaming.
These are the corporate shenanigans that were used to
because we've been dealing with this with Tether and these other
entities forever. But let's talk about it So true
Phi. What was true?
What was true Phi?
Or what is true Phi? What was the trust token
ecosystem? What was this lending program?
Et cetera. Yeah, so this is a little
complicated, but a US based company called Trust Labs was
started back in like 2017 to start doing tokenized assets,
focusing most of their effort on stablecoins.
So they had a couple of other efforts.
They eventually launched A variety stablecoins True USD,
AUD, GB. A piece of British Pound, Hong
Kong dollar and probably Euro if I didn't say that already.
Then they started launching some other things.
They did a fundraise with their True Token, where Alameda
Research was a lead investor and the True Token was meant to
govern the True Fi lending platform, which was a lending
platform designed for uncollateralized loans of
primarily stable coins to people extended through this platform.
Well, let me to research who again as we mentioned was one of
the lead investors in the True Token was extended millions of
dollars of uncollateralized loans through this platform from
an entity called Trust Trading, which is a wholly owned
subsidiary of Arch Block, which is what Trust Token rebranded to
after they sold off true USD and all that.
Besides that, there's. Yeah.
And so that's Arch Block. That's True Fi.
Alameda Research, as we mentioned, was a lead investor
in True Token was getting loans from True Fi.
According to Chain, Argos Research was like the largest
mentor and Redeemer of True USD, followed by I think Justin's son
was in second place. And so, yeah, that was broadly
like the set of entities we're looking at here.
We should also probably mention Tecterics, right?
Tecterics, which is nominally an Asian Asiabased conglomerate.
That seems like it's actually incorporated out of the British
Virgin Islands, where they which was used to purchase initially
just kind of the name True USD, and Arch Block was still in
charge of a lot of the administration.
A few months ago, Protos reported that the private keys
and the rest of the stuff that Arch Block had been managing.
Had been transferred over to Techterics and shortly after we
published that True USD came out and announced their
international transition. And so now True USD is kind of
more fully separate from Arch Block which used to be trust
token and seems to be basically wholly and fully controlled by
Justin Son. Yeah, that's right.
We don't have any. Like I don't think there's any
way to fully prove it at this point.
So, you know, allegedly there's the word allegedly tectari X and
true USD, and the rest of this stuff is now completely
controlled by Justin Son, allegedly.
But there's also been some weird shenanigans with that.
I mean in terms of its collateral, in terms of where
its collateral is, I think we got into it with the boys last
time. So we don't necessarily need to
get into the the the depths of that.
So but Sir, sorry to interrupt you, but you bring that up and I
didn't think we had to get into it, but there was a little bit
of a note in Daniel's lawsuit that makes me think we need to
bring it up. Because one of the things we
talked about is how the collateral being held at Flow
Bank is no longer appropriately being held in escrow and instead
being held directly by agents of tecterics or whatever.
What was mentioned in Daniel's lawsuit is that.
Techterics is currently trying to or trust Token Arch Block.
There's currently an attempted restructuring of some of these
entities that'll put them in Switzerland, and Daniel is
opposed to that restructuring, believing it unfairly deprives
him of. Wealth that is supposed to be
his. But so that was kind of the
interesting wrinkle to me is that we saw all this money moved
to Switzerland in this account that was not appropriately
escrowed and then we hear that there is an attempted
restructuring going on in that same jurisdiction.
I I want to point out that this lawsuit was filed pro se and.
It reads like it is, and it reads like it, which isn't.
It's an important point because for anyone who's not aware, that
means that there's no lawyer involved in this, that this guy
is is doing this lawsuit on his own, without the help of a
lawyer. And yeah, that it doesn't stand
much of a chance is basically what that means.
Because generally, whether you're defending yourself in a
court of law or you are suing someone else in a court of law,
if you're doing it on your own with the help, without the help
of legal assistance, you're probably not going to get very
far. And so, yeah, we we can presume
as much. Also because this guy claims
that he's owed $96 million and you would be able to get a
lawyer to agree to terms if that, if they actually thought
you had a chance of seeing that $96 million.
It doesn't sound like any lawyer thought he had a chance of
seeing that $96 million and so. And we should also, I just
wanted to add that caveat to the to the lawsuit.
And this is kind of a countersuit because.
Large Black, formerly Trust Token, has had a separate
lawsuit against him for deleting their internal slack when he was
voted out of the CEO position and that's been ongoing for over
like 2 years now. That is a lengthy, I guess he's
been pushing for a lot of discovery information and and
vice versa. And yeah, it's been a slow
process. Slow legal wrangling, Yeah, a
lot of weird claims and and. Yeah.
So I I think the most important claims we should take out of it
are not some of the ones about behavior of certain executives
that were given without evidence.
The part that seems more plausible to me are the parts
where we can see some of the messages regarding these
negotiations and some of the names mentioned I that.
Has a lot more credence to it and some of the other
allegations contained in it. It doesn't.
It doesn't to me. So there, there.
I believe Bennett is. One of the things he's speaking
about, for instance, is that there is a text message exchange
with Justin Son. It's hard to call it even in
exchange, because it's almost all.
One sided Daniel sending messages to Justin Son, which
leads me to believe he was sending these messages knowing
full well that he was going to be screenshotting this
conversation because he was like, OK, I'm going to look good
right here. Whereas he doesn't show us the
entirety of this conversation when it started, what was said,
what the hopes and and aspirations were for this, for
this takeover. All he shows is him saying to
Justin that he thinks it's a bad idea.
Grain of salt. There there is.
One other thing I want to highlight though is.
He does include the name of a lawyer who is supposedly helping
Justin's son negotiate this and point specifically to a lawyer
named Can's son, which we don't know if there's any relation to
Justin there. It's a relatively common name,
so we don't want to jump to too many assumptions.
But this lawyer is interesting because they worked for Fenwick
and West, which is a firm that represented the BitTorrent
Foundation in 2018 or 2019 when the Tran Foundation was
acquiring it. And then Can Son left Fenwick
and West, where they were working with Daniel Friedberg to
go be a General Counsel at FTX underneath Daniel Friedberg.
And so that name was an interesting best career
decision. Can we just say?
I think it is telling in the context of some of the other
Alameda research connections I alluded to before.
Right. Alameda Research was the largest
or was a lead. True token investor was getting
like the largest loans out of anyone on the true platform was
the largest issuer and Redeemer of true USD like that is.
The important context when we're considering this lawyer's
trajectory? Sure, sure, We've gone into
their escapades before. We urge people, I urge anyone to
listen to our episode with Jason Brawl.
We talk about the some of the lawyers that are now getting
mentioned a lot, and we were talking about it years before
all of this nonsense. These guys have been involved in
crypto for a while, I think. I mean for I remember when you
and I were first getting into cryptocurrency, so many people,
so many of the people who were putting a lot of money into it
were poker votes, like it was pretty commonplace.
I don't know if there's that same association these days, but
it certainly was a big a big deal before.
I know now that with roll bit getting such a a big platform
from a bunch of individuals on cryptocurrency Twitter that
perhaps we're seeing this kind of poker gaming, illegal
gambling stuff getting popular again and we'll see where that
goes. But for a while there, it seemed
like there was at least a break. Yeah.
So I I think there's a couple of dynamics there and I think
there's a reason it's coming back too.
You'll remember when we had Jason on to talk about, he
talked about like pre Black Friday in the lead up where
there was starting to be more and more pressure on some of
these poker sites. It became harder and harder to
deposit and withdraw money from these sites.
And so the poker players who were still using them got
comfortable. Using more and more
unconventional methods of moving money in order to continue
having this opportunity. Mentioned jewelry exactly like
jewelry, being a very common thing.
Which is like the same way that Backpage was doing it for a
while for some of their stuff. And so what's interesting to me
is that I think this allowed them to be well positioned to
take advantage of crypto early on because they were familiar
with many of these unconventional rails that crypto
companies began to rely on. As crypto companies began to get
banked at signature in Silvergate and everywhere else,
some of that barrier to entry decreased and it became easier
for some of these people to use it, I think as we've seen the
debanking of crypto. It will become like the
proportion of people like that, poker players and stuff like
that will again kind of shift more towards over representation
as some of the barriers to trading crypto go up.
OK yeah, that's an interesting, interesting perspective I hadn't
been thinking about. We obviously had to continue the
continuous line of these lawyers, the legal, the legal
representation for for major cryptocurrency exchanges.
And yeah, and other entities have has for some reason always
skewed toward the same legal representation of the worst
outfits in the poker world back in the day.
So I don't know what that means. I'm just saying that they were
hiring the legal representation for the worst companies in poker
back in the day, whatever, whatever that means.
But anyway, so there's some other stuff though in regard to
Justin's son outside of just this lawsuit.
One of the big things that's been that has been getting a lot
of attention, actually, I not just you and you know, and the
Data Finavation boys. But but other people too have
been focused on this wrapped Bitcoin, which seems to have
vanished into thin air, which is like pretty sure something
Bitcoin can't can't do, right? Like it can't just vanish off
the blockchain. How does that happen?
There was a boating accident. Yeah, So what, we're on the
block. There are a couple versions of
wrapped Bitcoin on Tron. There's one very small one
that's done by like the same people who did wrapped Bitcoin
on Aetherium. Custody is done by Bitco, and
it's very easy to find the addresses for that one, but no
one uses it. The one everyone uses is a
product that was initially offered by Polonia X.
Poloni X, as we've mentioned on here before, seems to have been
acquired by Justin, Son, will say.
Seems to be, since he wants to pretend he didn't do it, that
one you no one can find the backing for.
I've gone looking, I have not been able to find the backing.
Protos asked Poloni X where the backing is and they said you're
not a customer. We can't tell you that, and no
one else seems to be able to find it.
And that is not great because, well, it's thousands and
thousands of Bitcoin, including a significant portion of the
Bitcoin reserves at will be like customer reserves that are
supposed to be allocated for customers are not in regular
Bitcoin like you would expect. They're in this wrapped Bitcoin
that is from Polonia X where no one can find where the tokens
are custody. Besides, will be you see a bunch
of them go to Sunswap. To just lend those protocols.
I know this sorry sorry yeah sorry.
So for anyone who's yeah we'll pause again here.
Justin son is so self obsessed that everything he creates has
to in some way like have his name associated with it.
Obviously just lend is as in Justin Son.
Justin Son lend. Just lend and then there's a
What was it, son? Sun.
Swap. Yeah.
You can swap at Sun's little decks.
And so yeah, there are thousands of Bitcoin that are supposedly
on the Tron network, where no one can find the corresponding
bitcoins on the Bitcoin network. The entity that's supposed to be
custodying them and managing these swaps won't tell anyone
where they're stored. And that same entity, sorry,
that same entity promised back in November that they would
release a Proof of reserves shortly.
They have yet to release any kind of like Merkel.
Proof of reserves, OK. And when protests asked them
about, they said they're still working on it.
We asked them why eight months wasn't enough time to finish it,
and they just said we're still working on it.
This brings around a larger point that I'm sure we've
touched on before, but this this is something I've noticed a lot
more lately, which is that when when were these wrapped Bitcoin
originally like created? By 2018 Okay this speaks to, so
I think one of the ongoing. 20, 2020 Okay.
Nonetheless, 3 years. So this speaks to me.
To me, this speaks to there's this consistent narrative that
the blockchain and cryptocurrency provides
transparency because you can, you can go on these scanning,
you can use scanning tools, you can use bread crumbs, you can
use, you can use all of these things to try to get get
information that you wouldn't be able to otherwise, for instance
from the Federal Reserve or or whatever they want to say.
Unfortunately, what you just what you just proved is that
this dude did this thing in 2018.
No one knows where these coins are now, however long they've
been gone. If they ever were wrapped in the
1st place like no one knows, no one knows and that it's there is
no that the what transparency. This is obfuscation.
This is this is creating extra steps that people just don't
fucking care about. Nobody's going to bother
checking to ensure that the rapid quite like nobody fucking
cared. Nobody cared in 2020, like
hardly anyone cares, right? Like now people care because
they're like dude, are there just millions of dollars just
upped and walked away? What What happened?
Right. But like, if Protos hadn't done
this and people hadn't been asking some questions
eventually, who knows, right? And that I just, it just bugs me
because there's this narrative of it being so transparent and
the reality is. Where's the transparency?
This is obfuscation. It's an extra layer to trying to
even if you say, like we proved it, there's no Bitcoin here.
They just go, Oh well, we're auditing it and figuring it out.
We'll get back to you. Like what does that even mean?
Where are they? Just give me an address, put
them in an address, give me the address.
Then we can all say, hey, that address has them, and if someone
moves them, we can go. Why the fuck are you moving?
The ones that are supposed to be in that address, but they don't
want to do that. And I think, Kelly, yeah, yeah,
I think kind of what we're getting at here like through
like the reason this to me is connected to true USD beyond
just the fact that it's Justin is it points towards kind of
this pattern of what you're talking about, claiming
transparency, claiming this openness while doing everything
possible to try to obscure the true intention.
With true USD that's obscuring the nature of the ownership,
where the collateral is stored, how it's stored and what that
means. Even the nature of like we
talked about this when the chain Argos guys run it seemed like at
the stations for true USD restarted once they started
manually sharing the information for this non escrow bank account
with the network firm and so that.
Isn't particularly transparency. That's not using the blockchain
for your best effect. Same with this WBTC.
There are millions of dollars of value being placed in these
protocols and being treated as if it is fully collateralized by
Bitcoin with no other claim against it, without the
evidence. That's true.
And like this is a pattern throughout all of Justin's
things and we've talked about on some of his Tron projects, but
just sticking close to him for now, like.
He there's this other new project they launched recently
called Stake USDT. And stake to USDT is supposedly
controlled by a new entity called the RWA Dow for real
world assets Dow. And the idea is they're going to
take all these stable coins and they're going to invest them in
something in the real world and pay the yield back to token
holders. Unfortunately, there doesn't
seem to actually be a Dow. There was no they claim they did
this in collaboration with just Lendau, but there's no proposal
on just Lendau related to this. No discussion of this in the
Just Lendau governance forums. And 85% of this state USDT goes
to Whoopi, which again is almost certainly Justin's son owned.
But we have to say Justin's son advised because Justin's son,
Justin's son still feels the need to lie about this. 85% of
the total supply of this neutron token that's being invested in
something with no disclosure goes to this exchange and is
included in the Nansen dashboard that who will be published to
try to prove they have all the assets they claim So and and
this yeah this gets me back into so whoa be like I just want to I
want to point out to everyone and I know some people are aware
of how I have my my own personal animosity towards Justin son
that he is my Moby Dick my my white whale if you will.
Right. Watch our Watch your episode
with Josh, Cincinnati and Lawrence for that one, right And
many other episodes as well. When you look at at everything
combined for this, for this gentleman, he's not allowed in
mainland China anymore. I want to make this clear.
Under under his passport, that is his Chinese passport, he is
no longer allowed in the country.
When he does go, you can almost guarantee that he is using a
Saint Kitts and Nevis passport, or his Granada passport, or his
Malta passport, or his whatever passport, his Central African
Republic passport, whichever one he wants to pop out and use,
he's using one of those instead. Why?
Well, obviously because the the CCP wouldn't want him coming
back. Why?
Well, you got to ask them, I don't know.
I don't know why they. What would happen if he did
return under his passport, But he isn't and right, Yes, go
ahead and watch our episode about Xiaodong and Renren bit.
But there there's also the issue of him establishing all these
companies in Hong Kong. Not under his.
Again, not under his Chinese name.
He's only doing it with his Saint Kitts and Nevis passport.
He's using other individuals to including, apparently, his
parents, possibly as like individuals who are owning these
companies or representing these companies like Tectari X.
Like the things he's doing to jump through hoops to try to get
through the legal system in ways that he must think are
effective. It just screams red flags on
everything he touches. So whether it's Polonia X will
be USDD, which is just the stupidest fucking stable coin in
history, or there's the other one, what was it?
JUSD or USDJ? Whatever the hell it is, That
one is US actually above, right USDJ, perpetually above a
dollar. I think it's probably trading
for $1.12 right now or something like that.
It doesn't. It doesn't matter.
None of this matter. True USD, true USD now.
All of it. And this is this has been my one
of my issues for a long time, is that for for probably 2-3 four
years now people have been saying Justin is rich, Justin is
so rich. This was then.
This is so similar to the SBF narrative to me because when
they go, he's so rich. I go, OK, where though with
what? With what assets, what real
world assets does this guy have that suggest he actually has
money? And when you look at the shit
he's doing with his crypto currencies, the stuff he's
hiding, the stuff he's stealing, the lawsuits he's involved in,
like the the Woby people are suing him because he has
continued to use the Woby name. When he said he wasn't going to
Like all of these things combined to show an individual,
I wouldn't. I wouldn't trust for any amount
of money, any amount of money. I wouldn't hand this guy a
nickel. I don't know what this guy would
do with it. Like this guy screams bad news
and you just you're just naming more things to me where I'm
like, uh huh. And this is to be expected.
OK. He says he wrapped the Bitcoin,
but he didn't do it. Then he sent all his money to
Wobe and then he then he stole customer funds and then he did.
Sure, none of this is surprising to me.
Yeah. And I think that's kind of what
we're getting at here is these events exist in a pattern of
behavior for Justin Son. And the reason I think it's
important to highlight these specific ones is the same reason
we wanted to have Jonathan and Patrick of Chain, Argo Son is
because this kind of offshore financial system involving many
of these actors, Alameda Research FTX, Justin Son, True
USD. And of course, our friends at
the world's most transparent stablecoin Tether has its uses
from like light Gray but never fully white to like fully dark
black black market stuff. And many of the behaviors in
maneuvering seem like someone who has fewer dollars than
they're supposed to for all the people they owe and think if
they can keep things moving for long enough.
That fact won't come out, and sometimes these entities end up
in that position because bank accounts get seized, bank
accounts get frozen, Money they thought they had ends up not
being money they have, and that could be part of this, right?
Like True USD presumably lost some money at Prime Trust,
though apparently it's only 20 K And so yeah, you have kind of
this. Pattern, where sometimes these
entities seem really wealthy because they're behaving really
wealthy, but they're behaving really wealthy to continue the
fiction that they have all that money because they need to have
all that money or they're in much deeper shit.
One of the important parts that I think everyone has already
kind of forgotten about the FTX in Alameda Fiasco was that he
was marking illiquid assets as though he could sell them on the
open market for the value they were trading at on FTX or
whatever that day. Like insanity, You're going to
be taking massive haircuts if you try to sell these positions.
And we don't know what the other investments are for things like
true USD, right? We don't know what these other
investments are. We don't know what these things
are that are actually backing this thing at this point, other
than they're being marked to some imaginary value that says
that they're fully backed and we don't know what it's backed
with. And this is like this is part of
the issue, right? Yeah.
And like even specifically in true USD, we already talked
about how some of the things aren't appropriately held in
escrow, but they won't make any kind of representations about
the quality of securities being held at First Digital in Hong
Kong where they're holding a significant portion of their
assets. And 1st Digital themselves just
launched their own stable coin, which immediately got listed on
Finance like. Immediately.
Like two days after lunch was already listed they said so they
so to be fair and just so everyone is aware they they
started the the stablecoin in in partnership with finance and and
and like will be in these in like these and Justin Son and CZ
like they they they were working together with them for sure from
the very get go and like like there's no that's not that isn't
surprising to me but I do want people to realize that first
digital is a trust based out of Hong Kong.
Do do we really think that they're moving billions of U.S.
dollars into and out of Hong Kong through this, Through this,
Through this trust? Maybe.
I doubt it. It's like we talked about with
Jonathan and Patrick. If they are, it's in a more
convoluted transaction. Right, involving other
counterparties or entities or structures between the US
dollars and the assets that end up at first digital backing true
USD. And that's been kind of the
point of complexity at the heart of these stable coins since we
started covering Tether in 2017. The mechanics they claim don't
match up with their behavior. Like the mechanics of them,
collecting a U.S. dollar from someone, storing it in a bank
account and only then issuing the asset and then wiring that
dollar back out only when it's redeemed does not match up with
the behavior of really any of the stable coins, USDC and
Paxos, whatever. Find the US based ones we're not
going to worry about, but like. That has been true since the
beginning. We have heard for years with
varying degrees of accuracy that Tethers transactions actually
involved a much more convoluted set of counterparties that was
meant to kind of aid in capital flight, transform and maybe into
Tethers that can be used there, right?
And so we need to remember when we're talking about Justin and
all this, that one of the principal use cases for many of
these fake dollars. Is capital flight right?
Is money trying to get out of China?
Yeah, I mean it's been a point that Protos has been
particularly keen to make about FTX, about these entities and
about some other, some other stuff lately.
Like I do think, you know, you don't have to be like whether
you agree, whether you think Chinese capital flight is a good
or bad thing, it doesn't really matter.
It just is a thing that's happening.
And clearly you know someone's mad about it, right?
You're breaking those rules and you're not obeying the laws.
And someone's going to be pissed.
Either it's going to be the US or it's going to be China, or
it's going to be both. Well, and it has been China.
China's busted. A couple of them tether what
they call money laundering rings, which always sits
somewhere between like. Money laundering, gambling
proceeds and capital flight are all kind of described by the
Chinese state apparatus as like broadly the same type of thing,
but they've busted a couple of tether based rings in the last
couple months, so they don't seem happy about that.
No, I mean the Chinese government has made it very
clear how they handle this stuff.
And that is basically shoot first, ask questions later.
They they're not. Jiao Dong was sitting in a jail
cell for a year before he had a trial and the trial lasted for
like 3 days and he was guilty, right.
Like these this, they they don't operate the way we do here.
And I'm not suggesting that's a good thing.
I'm suggesting that's a real thing and that that is what you
have to consider if you're going to be doing business in these
places or with people in these places.
And I think like Justin Son is a prime example of the way, you
know, I don't know what you want to call it illicit, I don't know
how you want to term it. Just funds that are, like
questionable. Questionable in their sourcing,
questionable in how they were acquired, questionable in in
what they're destined to do. Funds the way those funds are.
Is reticent to accept, which is crazy because the banking system
is. Will happily accept most money
you got to be? Really.
Billing you a window to shove your cash through if you need
to. This is exactly right.
So if you can't get HSBC on board, what the hell are you
doing? Yeah, I don't know.
A million questions about Justin Son still.
So I'm glad we're bringing him up again even though I hate
talking about it. And yeah, we'll see what
happens, we'll see what happens with True.
Is there anything else that you wanted to touch on with these
with these platforms, these Justin Sun related platforms and
vehicles? Well, I just want people to know
that I know the Casquin exchange proof of reserves has been
delayed for eight months, but we're still hard at work on it
and we expect to have it out any day now and we guarantee it'll
show you that we have assets. Yeah, we are using a top 100
auditor. So I don't know why anyone could
claim otherwise. And I I look forward honestly,
I'm looking forward to us getting the the audit done
because I'm tired of people fighting my cast coin bags.
Remember guys, that yes, we are under investigation by the DOJ
and the SEC and the CFTC, but under investigation means that
they haven't charged you with anything yet.