Sam Rock Radio. yo-yo, yo-yo, yo.
What up? What up?
Good morning. Good morning.
G MG EH Tuesday October set October up up October up Tober
17 out 2023. Look at that.
Another beautiful day to have a beautiful day.
I got my co-host in the house. OSPF Mando.
Hi all doing. How you feeling today when you
water? Feel good?
Ohh wait. Doing it.
Can you hear my audio? Well, perfectly actually.
OK, good. Good.
Good man. Yeah, good.
Sound good? We can see your chest.
Really. Chat.
Really. Shit.
With the with your opponent coming up, we need to, we need
to go straight into that, by the way, we need to go straight into
that. I'm OK with that.
You please open up. So SF attempts to do some like
shit talk with his opponent actually seem too many draws an
art piece. I'll pull it up.
Yeah, let's bring it up. But yeah, keep explaining it.
We need to talk about this. You know, no stuff isn't good at
this. So he's he's, he's done an art
piece as his like, first foray into the attack.
His opponent is clapped back essentially in the comments, and
then OSF has just decided to agree with him that there's no
chance that he would knock him out in the first round.
So here it is. This is a this is obvious piece,
which actually is fire. It's OV sleeping, whoever that
other guy. I still don't know who it is
and. Dev just I don't know.
Stocks there. Come on, man.
He's ducked. Yeah yeah it's OK.
And then so he's sleeping him on the sorry on the on the artwork
and then dark stuff says almost zero I'd say.
But the gift is cool. So are the odds of him killing
him right and all He says Ohh, just realise it looks like I'm
wearing a dress. Classic.
Just now you have have no future in the UFC.
You have no future as a professional boxer.
This is, this is what you're gonna bring to the table.
This talk is like 90%. Of the Look at what Dylan
Dallas, Dennis just did for like 3 months.
That's how you sell a fight, you know?
I mean, he did embarrass. Himself, Dillon Danis, like many
energy projects, is the epitome of over promising and under
delivering. And that is true.
Opposite. That is true.
That over deliver now. I mean, yeah.
I mean listen. You're the opposite.
We're gonna hope that you're the complete opposite.
Yeah, yeah, yeah, definitely. Listen, I saw that.
I sent it in the group chat immediately.
Here's the broadcast link. Thank you Sir.
And and I and you know I I went to bed after sending that you
know and I I don't know we'll we'll work on it's OK At least
he has us right He's got he's got you and I to do all the shit
talking for him. I feel like that's.
I feel like it's at this stage, Mando, it's it's like you nice
jobs. Best friend dog.
It's the best friend all can coming.
He's going to be your own regularly out to Dubai, you
know, Christmas, all of the holiday period, just just out
with him. I feel like we have to to be
there with him. We have to take him into that.
I want to like, almost like go out there and like jump in the
ring at the end like, I don't know, like punch someone in the
face. For sure.
For sure, like, I feel like I need to do something like that.
Maybe that way I get AI land the fight as well, which will force
me to get in like insane shape like like Ovie.
I kind of feel like committing to a fight, just so I have to
like getting like the best shape of my.
Life, it's the if there's one thing that forces you to just
go, like for sure crazy. I mean, to me, I've been, I've
been on the pints and eating food, junk food and stuff.
So it's. Hasn't really worked.
But wait, yeah, it's true, right?
You're you're only eating junk food.
And yeah, yeah, yeah, totally. It's just totally just just.
Hitting the Burger King, Yeah. By the way, is this?
Is this more chit chat? Is this more so?
By the way, you guys joined the Twitter space real quick.
Do me a favour but hold on. Ohh wait, did you did you go,
did you go with Burger King or or McDonald's the other day?
Hold that thought, I'm gonna switch to Firefox.
I think my thing is low again. Ohh it's crazy cause you sounds
perfect to me. I guess it's like a we we
googled it by the way for everyone wondering like we
actually looked into it with Sims.
It's actually YouTube problem. It's not like on our end it's
like a YouTube thing. I gotta I gotta say I really
like this sliding. I'm back to my usual lighting.
It feels good, like. You look good, man.
You look good. You look, you look healthy.
Yeah, I'm. I'm almost there for.
The answer thanks for it looks right as well, but.
Yeah, you're just fucking looking huge at the moment man.
Massive. I think the boys that, that the
boys are, the boys are just, you know the boys are out here you
know they haven't stopped working throughout the bear and
and they can taste. They got a first taste of the
bull yesterday, so they'll. I can't believe you managed to
fuck that one up. Right.
That that'll be, that'll be a good story one.
Day, hearing the news and then going 1000 X.
It's your new tactic for making money.
Tiny X ohh never do 1000 but I I I got I got obliterated like
within like 5 minutes. Ohh.
Yeah. Ohh God.
Yeah. Anyway OK, OK.
So let me let me let me know. Let me OK, look this is OK.
Stop. OK.
Let's let's just.
OK whatever. OK you know why Cause my each
bag and my spot bags are doing well so at least yeah and those
are the bigger bags so that's fine.
Thankfully we only we only leverage trade with like a
fraction of the bag so we're fine right.
So definitely don't. I don't want people to saying
that you know I'm I'm like I do this stuff I already learned my
lesson with NFT's and so so definitely we're definitely not
going there and and you know anyways I do have a hole in my
wall that serves as a lesson I still haven't patched it.
I gotta make sure I do that for him to vacate this apartment in
the next year. But anyways, today on the show
to day-to-day market update up towards October is back I think.
So Cointelegraph apologises, but right before we saw clip live or
the editor in chief on a panel. With who?
Mario Awful. That's lighting people.
So you have Clown Telegraph and Mario Awful on the same panel
and she's telling people. Anyways, we'll talk about the
gaslighting followed by the apology.
Third topic, Black Rock CEO is bullish Bitcoin.
Of course, the rally today is about flight to quality.
He must have not been on Twitter.
It's OK, we'll give that to him because he's right, You know it
is a flight to quality. Fourth topic.
FTX clients may be able to reclaim their money, may receive
$9 billion shortfall claim. So that's some pretty positive
news coming out of the whole FTX debacle if you were a client of
theirs. I'm not sure if it's US or not,
but we talking about this. And then, last but not least,
Ferrari. Ferrari takes crypto.
But when? Lambeau.
So here's your top picks for today.
That's the show. And alright, it's clever.
This show is powered by cracking.
Check him out. cracking.com/rug radio.
And if you want to check him out, just click on the link.
Yeah, thank you very much. Do your boys a favour.
I cannot wait. I leave tomorrow morning
travelling again. It's getting a little
exhausting, but this one's worth it.
So I'll be on a flight 7:30 AM to Austin, TX to.
Megan, I love you out there. Yeah man.
Austin, TX I got I got my cowboy boots ready bro.
I I'm gonna get a cowboy hat cowboy boots, thread guy and I
imagine three guy out there especially with this like crazy
looking pants. They're gonna love that or.
Yeah, you Are you staying in the dress school again?
No, never again. I'm not staying at a hotel
where, like, I run from the elevator to my bedroom because
I'm scared of getting, like, attacked by a ghost.
Like, it's not happening ever again, that's for sure.
I'm saying whatever hotel like they decide to that we're going
to be staying at. It's like that, but it's going
to be. And because we get to actually
interview tomorrow, both drivers from Williams.
I've never interviewed the F1 driver.
Yeah, should be coming. They have two good drivers,
Sergeant and Albon. So should be a, should be,
should be, should be. A lot of.
Fun Yeah album in in France. He was by Monaco.
Just outside he was telling with his girlfriend.
Ohh no way. Well, I'll be asking him what he
was doing there tomorrow if you want my friends started.
You knew I was, but you know who my friend is like you were like
you met. Him.
Do you know he sold apes at the top?
Like like, do you know? That just opened with that, I
think, OK, I'm gonna go to him and I'll be like, yo, my friend
spotted you in the South of France.
And like, as and like, did you know he sold eight for like $10
million? And he'll be like, whoa, dude,
that's sick, right? This is actually.
Anyways, I can't wait to. See the cowboy boots?
I think it's. I think it's a real actually, I
actually can't wait to see the NFT on the back of the wing.
I think that's fire and they managed to get broader gremlins
on the car, so on the side of the car.
It's gonna get Alvin smoking crack.
Not allowed to say that or yeah, whoa whoa, ohh, you totally are
say that. Hold on, I don't think there's
anything wrong with that. Anyway, So without further ado,
let's get this party started. So topic #1, market update.
Bitcoin spiked 10% yesterday, obviously on the news of the the
ETF being officially through for Black Rock, obviously that was
debunked right away. We talked about it on the show.
It was very chaotic. Sorry about that everyone, but
the dust settled, market went back down to 27 something and
then it started pumping again. So Ovi, what happened there?
Um. The repump.
You know what that really felt
like? That felt like I was back in
school and I wasn't paying attention.
The teacher, like, asked me a question because they saw me not
paying attention. They go over what happened there
that really, really, really got 400 days hosting together.
I really got those vibes. It was like a test.
It's like a challenge, but. There's only three people on
this podcast. No, I know, I know.
But it's just like love this. It was just like the the tone of
it was like, yeah, what happened there?
You just checking out your muscles?
Have you guys never know who I'm gonna go through first like?
Yeah, so the reason why I think we repumped was because we got a
taste, a glimpse of the future. We got a little taste like
Bitcoin, which to what, 30, it was 30K on Binance, but it was
like up to 30.7 K range between 30 and 30.7 K across different
exchanges. And then I think the headlines
are refuted very quickly and it got sold back down.
But I think people got a taste of like, wow, this isn't
actually priced in, you know, this isn't actually priced in.
And we will move on this and that.
Just showed us what the like few seconds or few minute move would
be and it hasn't told us what the move beyond that could be.
And yes, there is an argument say that would be the first move
and get sold back down and we just don't really move.
But the the converse could be well actually we keep going
higher and higher and higher and you know there are people out
there who you know people like Farooq who bought into that
because he believed it would go higher.
I think plenty of people do genuinely believe that.
So I think, you know, a lot of shorts got liquidated.
A lot of a lot of longs but like Ohh shit it would actually move
bounced back down. Maybe I have a chance to
actually add some risk here before the headlines become
official because the expectation is still that it will become
official. So I think that's why we, you
know, we've stayed strong and you know, even before those
headlines, remember Bitcoin already had some strength and
was strong and and now I think there's an increased expectation
that this thing is going to get. Gonna get approved.
I still think the 1st. We'll hear from them.
We'll probably be the 10th of January, but if it's not the
10th of January, then it's an early surprise.
It's a good thing. It's positive thing hopefully if
it's approved. Obviously if it's not then it's
not good, but it seems like it's really only Bitcoin, right?
Like I'm looking back at the coin market cap right now and
like you have your theorems back under 1600 and it's down on the
daily and the rest of the tokens also are not like up crazy.
Besides Solana that really performed pretty well over the
last 24 hours. But.
I think maybe people are front running this whole thing, like
maybe they're, you know, people have started buying.
People started buying Bitcoin inside on Monday morning, which
is the first working day after the SEC did not appeal the
decision. So there are probably the safest
bet right now if you want to play this is to buy Bitcoin.
And we already got a taste of where it could go if it weren't
higher. So I think you know, if you're
not, if you're not a traditional crypto investor and you're a
macro guy, you're like, well, how do I play this?
I've already seen like there could be a 10% move on this
news, which is a big move in traditional finance.
So like maybe Bitcoin is think to buy and then I think as as
that keeps going higher you will see it pull up other crypto
along with it. Like don't forget that ARC has
also filed for a spot ETF and there are other spot ETF
applications out there as well. And it's just like Bitcoin is
the first mover and if that move holds and people gain confidence
within crypto again, then you will start to see other stuff
move as people try and seek more beta and and more returns
outperform Bitcoin. And then as people try to
outperform people look at other coins and then.
Eventually you see people look at T that that's that that I
think is the the trickle down effect.
But we're right at the beginning of that process in motion so far
as like people are still questioning not us because we're
within crypto, but the greater world is still questioning their
confidence within crypto after everything that happened with
FTX, 3C in Celsius and Voyager etcetera.
So we're right at the beginning of that.
But if they can gain confidence in Bitcoin and that is the first
thing that people will start buying, then you will start to
see it spread towards towards other coins and I think you
will. To actually see other coins out,
perform and that's just a cycle. That will just be the next cycle
I think. Yeah this is great.
This is great breakdown. I agree on the trickle down
thanks for the slide little jab in the middle of that but it's
true like people are gonna run to place longs and do all these
sorts of things right. If it wasn't for fake news I'd
be cooking. So you know so that you know
that would have probably happened though picked up in
your minutes that and that's what I was just that's why I was
just showing that on the on the stream but you know Bitcoin
dominance hitting a high above 52 points.
Hmm. Yeah.
So this is where me and only slightly disagree.
I think, I think that for the next period we're going to see,
we're going to see Bitcoin outperform just because I think
that's just the way I think we're going to at least for the
next 90 days until the ETF comes and then.
I guess I don't know after that, but I think something can be a
little bit difficult to to judge that.
I think we're really gonna judge how much money comes in from
Trad 5 to see if we see like a broad based altcoin rally.
But I think, I think it's good what's happening right now.
I think it's very, very tough. It's only 90 days now until the
ETS get approved. And as we get closer and closer
to that date, the more and more they'll be, far more of, you
know, when we become 70 days, 50 days, 30 days, it's suddenly
gonna be like, fuck, right? I've got to earn some.
And I think that's going to be a story that probably reaches
beyond just crypto. Like your friends are going to
be asking you about it. Like it's going to start to go
mainstream, I think from about 30 days, maybe 15 days out, and
then like the days before, everyone would have heard about
it, so. I think it's just something to
be aware of. So I think it's not a terrible
time to like to look at adding risk in some of these some of
these UM, but I would be very wary about yeah, how and where
this feels like a Bitcoin, Bitcoin story, Bitcoin story
largely. So I think that that dominance
figure could could increase for a while but that's good.
You know it's still good cryptos, cryptos still going
higher like I still think it's good to to see that that stuff
happening and. Um.
Yeah, I don't think you can be bearish like at this stage or
you can't really call this a bear market is what I'm trying
to say. Like we're up 70% now on Bitcoin
year today. It's just it's gonna be what I
think a frustrating period because a lot of other stuff.
Won't rally, OK, probably not actually.
Which is like, if you're trading any other coins like this, like
a lot of people probably gone into a bunch of other coins.
Did not rally. I saw Solana perform really
well. It's about 3023 dollars.
It was up, what, eight points yesterday, Another 1-2 points
today. So.
There's a few things specific to Solana there though, like the
FTX wallet has decided to stake $130 million worth of Solana.
So instead of just market selling it, it looks like they
may hold on to that for a little bit and.
There's also big short position in Solana right now, so that one
feels more like technicals more than anything like that.
One can go higher because everyone was scared about this
FTX thing and that might not happen.
And it's not like Solana is dead, like stuff happens on
Solana, It's not like we're waiting for stuff.
They have a payment infrastructure being built out.
They have, they have all staking Defy infrastructure.
The part of that got dismantled today and then they have some
applications on gaming, so. People can get behind some of
those stories. I think so, yeah.
I think. I think out of all of those, as
I've said before, I think that one.
I would be unsurprised if that one did OK, but I still feel
most confident that Bitcoin is going to do well over the next
90 days. All right, man.
You're a big one, Maxi now really buying order most.
The next 90 days, I actually think, I actually, I actually
think it's after that 90 days. The demand for spot ETFs might
really disappoint, like we saw with what happened with ETFs,
and I think a lot of people could get wrecked.
So that's why I think now is a good time to buy.
But like buying, buying that week or week and a half, four or
whatever, I think that's really dangerous because I think, I
think it's going to take time for even that ETF inflows to
really pick up like to a substantial amount.
ETF inflows onto like crazy on day one.
And it's not like it's been impossible to buy Bitcoin for
people. So I think I'm just wary on
that. I'm wary that people are getting
really build up. That ETF thing, the good thing
about Bitcoin at least is then you have the halving narrative
and you can take that for a little bit longer.
But I do think, I do think it's one of those buy the rumour,
sell the facts, things. Yeah, alright well listen, we'll
get to, you know Larry Fink and his comments on Bitcoin shortly.
But first, but first, but first, our second topic today, Coin
Telegraph clarification on sharing false spot Bitcoin ETF
news. So Coin Telegraph apologises to
its readers and discusses his investigation into what led to
the posting an unverified news on X about Bitcoin ETF.
I'm not sure if how smart is legally to post a screenshot of
the internal conversation between UH of your team members,
but they pretty much admitted to having gotten their news from a
Telegram user that then deleted his account.
Ah. I don't know how to put it any
other way. I mean this is literally what
happened like for some reason I can't click that but basically
they shared a telegram message and turning.
So this is the the the text from the internal messages and
someone said breaking SEC approves.
I shares Bitcoin ETF BTF anyways and they literally copy pasted
the telegram message. They even bother to like, look
into it after anything. And they went ahead and tweeted
someone shared like a fake Bloomberg Terminal, and then
they fell for it. And then they're like, my
colleague jumped too fast. Uh-huh.
But yes, it's true. Look, BTC chart.
Is it true? You sure?
Yes, we're seeing that. And then bang, the whole fake
news thing comes out. The soccer, the soccer meme
makes it to the Coin Telegraph internal team chat.
And then they just like everything goes downhill from
there. I mean it just fell apart and
fell apart and fell apart until the person ended up deleting his
account. However, however, what I want to
bring forward here is this clip that I shared yesterday from the
Editor in Chief at Coin Telegraph who was on a panel in
Dubai simultaneously with Maria Novel.
Out of all people on that panel, I think the topic you can see is
is blurred out. I think the topic title is
Misinformation 101 and just hear for yourself what she had to
say. Social media post and yes, this
was disastrous and this is an example of what cannot happen.
But this is what happens when we are having constant pressure to
be the first with every news. And this is not a problem of of
journalism per set, it's a problem of the society.
That and all the technology. I'm talking about indexation on
Google and talking about social media where if you're not the
first, you're the last, there is no second, third, et cetera.
And this is a big problem. So anyways, so first of all, she
guessed it like the entire like world with that.
Then she quoted Ricky Bobby. If you're not first, you're
last. And third of all, you know she
told people that it was not about bad journalism is that
they were so rushed to being first.
Let me tell you something and it and I would love to hear your
thoughts on that guys and something I've noticed about the
space and being in media ourselves.
This is what I do every day. Too many people are so focused
on being first that they forget to actually reporting on quality
content. And we're so focused on being
that we I I'm not. But the space is so focused on
being the first to write breaking Justin, that they
forget the essence of the information, the quality of it.
Nobody's gonna follow you and like, stick to you in an organic
manner and like actually want to organise like, sorry and want
to, you know, something with your content.
Losing words still anyways, to partake, to participate with
your content and whatnot if you keep on spewing bullshit, and
this is facts, is a huge problem there in crypto media right now,
is that everybody is so obsessed with trying to be first that
they forget that you can be maybe second or third or fourth.
You're still going to get your engagement kick.
Don't worry about it, OK? You're still going to get your
cloud, you're still going to get your views, you're still going
to get something out of it. But it's just absurd to me that
you have the editor in chief of a Russian proxy media company
that's operating crypto that is little gaslight the entire world
telling people that's the markets fault for believing
this, not researching and buying thoughts.
Yeah, I mean, that's just, that's a very, uh, very
disappointing response from her, I mean.
You can't blame the industry. You can't blame the society for
like making you want to having to feel the need to put stuff
out early. Like everyone gets that.
Like yeah, whoever first put it out will get the most clout.
But you also have to Fact Check yourself and you run the risk of
messing up if you don't and look like there there was no other
publication I think that really reported it.
Like everyone else did their Fact Check and was like, ohh,
actually this is false. Um.
So yeah, it's just like, I don't know what I mean.
I saw there they had to meet their own Medium article as to
what actually happened and. It looks like someone posted.
It looks like they were trying to verify it, but someone posted
it before they've verified it and I guess that's the person
that fault. And whether that person just did
it intentionally or wasn't briefed properly, if there were
a junior person or just didn't understand what was wrong with
not verifying it, I'm not really sure.
But it's just it's pretty like they had to have some ownership
of like there being no real system in place to actually post
things without fact checking because that medical showed very
clearly there was no. Actual procedure or you know
like protocol that they have in place.
I love it. I love this response.
I thought it was this incredible.
Imagine if you did something wrong and you were like, it's
not not really me that everything wrong.
It's everyone you know. It's everyone who did it wrong.
We're all in this together. Yeah, I like.
Yeah, I love it. Absolutely love that as a.
As a response it is. It is a.
Form of social commentary, you know, like you know, it's not
really a mistake when you think about it.
It's more a social commentary on on the world we live in.
Google indexation makes it, you have to be first, but if you're
not first, you're last, you know, You know, it's like, it's
like she's literally out there quoting fucking, you know,
Talladega Nights. I just thought it was so funny.
It made me think, man, like everybody's just like, you know
a zombie sales, right? 400 death on a Dutch auction.
You know like every single person acts like in the NFT M
efforts. They're out of contents and
breaking zombie cells for underneath, bro.
There's a crypto punk spot. The crypto punk spot.
And report on it. You can just retweet it right?
You're not gonna get a bigger X payout.
You may go from $46.75 to $52.85.
OK, it maybe you can get like an extra piece of chicken at
Nando's, right? Like that's all you're going to
get. And it's just absurd to me how,
how, how quick people are to do that.
I think it's funny, but I don't know, I rather wait the next
morning like we kind of do and and just talk about it.
I don't know, maybe it's because we have a show that I'm like
this, but it's definitely, I feel.
I feel an easier way out. So anyways, there was this
apology. I'm sure we're all going to
forget it in a little bit. Congratulations to anybody who
cooked on the trades yesterday and and those who didn't.
Let me know if there's a class action somewhere if I can get my
money back. We will be there probably.
There probably will be a bunch of people that will.
I mean they literally posted the internal chat.
That's the last thing I would do personally speaking.
I know you were about transparency, but they literally
pretty much like the case is closed here.
It's like they literally showed like their internal coin
Telegraph chat of like the team, you know talking about this.
Anyways, I really wonder what a what a Mario novel and that that
editor in chief of of Cointelegraph panel in Dubai
about media and information was like honestly like if someone
has the full one I play just like send it to me, it would be
great. You know, like one side is like
misinforming the world about like war and the other side is
like misinforming the world about like Bitcoin.
So it's really interesting to me.
I'd love to take a lesson or two from them Anyways.
Anyways, topic #3 OK, still on the topic of Bitcoin Bitcoin.
Bitcoin. Yeah, the Bitcoin Max is loving
it's gonna come flaunting flocking to our to our Twitter
space in X versus Black Rock CEO Larry Fink says that the rally
today, so yesterday is about a flight to quality.
So again I'm going to let us hear it for yourself in this
22nd 27 second clip over here from Fox Business.
Here you go. This rally is way beyond the
rumour. I think the rally today is about
a flight to quality with all the.
You know, all the issues around the Israeli war now, global
terrorism, and I think there's more people running into a
fight. The quality, whether that is in
treasuries, gold or crypto, depending on how you think about
it. And I believe crypto will play
that type of role as a flight to quality this rally flight to
quality. Thoughts.
I think what he's really saying there is it's a flight to
safety, which is that you buy these things when you think the
world's about to face some form of, like significant turmoil,
whether it's in markets, people have been sounding the alarm
bell and like that for a while. And then you have this prospect
of, you know, regional war. So I think that makes a lot of
sense. Like what he's saying now.
I don't think it's really that controversial, but it's his use
of wording which is flight to quality.
I think it's it's pretty interesting because a lot of
people would say, yeah, you know, if there's a war, if
there's financial term, when you do by treasury, you do by gold,
but you wouldn't buy Bitcoin, Um, that a lot of traffic people
would say that. But he's fully bought in.
Like this guy's fully laser eyed into into the concept that this
is digital gold, that this is the future.
So. I know.
I think, I think we've converted him.
I'm not. I'm not a like, massive fan of
like, I think, but he's a powerful man.
He is a very powerful man. I mean, he has the power of $10
trillion. That's his power, right?
Yeah. So a lot of people say this and
there's a lot of like attack against all these guys at the
moment. Vanguard, State Street, Black
Rock, for example. And there is this, this
understanding that perhaps they control the money.
Although they do manage the money, it's actually everyone's
money. Like it's not it's, it's what
they control is generally ETFs and mutual funds, which you know
thousands, millions of people, hundreds of millions of people
will invest in. What they do is they control
that money and often the the like.
How that is controlled is entirely out of their control.
Like they'll they'll have an S&P tracker fund, which means they
have to invest in every every company in the S&P or they'll
have a. Euro stocks, track fund have to
invest everything. Euro stocks, so the vast
majority of all the funds which Vanguard, Black Rock, State
Street or Owner, they're passive funds of which they have very
little governance on where those funds are actually invested.
What they do have control over though and which is what have
they been attacked about is they do then have a lot of control
over proxy voting rights. So like for example, if you own
all your, if you have your money and some tracker ETF, you don't
bother, you don't. Other voting at any of these
companies? Um.
There like shareholder meetings BlackRock do.
So to a large extent they've been criticised for their
ability to like change corporate behaviour.
They got attacked for this ETF stuff.
So they have a massive amount of control about the amount of
funds that they own. But I think there is a little
bit of like an over exaggeration of how powerful these people
are. Like it's actually everyone's
money. It's just like it's like saying
the the head of a bank is is super powerful, which he is, but
it doesn't actually own all the money in the bank.
If that makes any sense, that no, that that makes total sense.
But I do think that someone of his power, like you know what's
gonna happen, right? Like the tests gonna get
approved or on the way to approval and all of them are
gonna go on CNBC, MSNBC, CNN, Fox Business, like you name it.
And they're all going to be pumping their bags and our bags
become their bags is when we're winning.
I think, I think he's kind of talking it down a bit because I
think they're not fully loaded. That's what it looks like to me.
I think he's like, ohh, I can't completely shit on it because we
just apply for bitcoins. Yeah, but I want to.
Kind of like cool down the speculation and like put the
fires out a little bit, just so. I'm not pumping it too early,
but I bet you anything like if and when it does get approved
and they fill their bags that he's gonna be out there saying,
oh, this is like fucking best thing in the world and everyone
will phone her in. They're gonna be saying crazy
shit next year, man. I can't wait.
I still think that we're gonna have another leg down before we
get a big move up, but that's based on nothing and.
You want to get back in, right? Listen, no, I I still I I
really. I really.
Respected.
I really, really respected that, that space on nothing.
I really respect that. Listen, I'm being honest.
This is like half the crypto traders online will tell you,
like a whole thing. My basis is nothing.
I respect that. You follow some of those TA
guys? What are they saying right now
when everything just randomly pumped?
What did they say? I didn't say.
I didn't say much. They didn't say much.
I saw a really funny tweet. Someone shot.
The news chart formed no? Do you know what it is like?
They're not like bitcoins, Bitcoin.
But the other tokens are not like performing like that.
Like you this back 1570? I I kind of agree.
I just think it's kind of funny that the suddenly shut up as
soon as the chart. You know how it is, bro.
That's why I don't see shit all the timeline.
That's always how it is, right? Like everybody just like likes
to try and be right. Because if you're right once and
become a Messiah, right and you get all the Twitter clout, like
that's why I'm gonna try to do it with shitcoins.
Speaking of shitcoins, Larry Fink, Are you sure he's not
talking about taker Bitcoin? Because let me tell you
something, these guys are all over my timeline and for the
right reasons. Like in the middle of a timeline
being like filled with like the war in the Middle East, they're
building like wealth in Nigeria for people to have access to
water. So I do want to give him a quick
shout out. I have 0 exposure to take her
Bitcoin. But like, there's this guy on my
timeline and this was not even meant to be a title a topic.
But I saw someone in the comments talk about it, so I was
like, let me bring it up. But this, this guy, Bitcoin,
Mandela and he he's been like sharing like I don't know why he
ends up in my house. I don't follow him, but like the
algorithm is pushing him to my, my for you and like they're
literally like building they're called boreholes in villages in
in Nigeria. Look at the state of that
borehole. I know it's great.
No, I I love that. And Lily, they're making these
kids lives, man. Like in the middle.
Imagine though, I wake up every day now and I see like dead kids
over my time. It sucks, dude.
I it's really heavy, man. Like I'm trying to avoid as much
as I can and mute people. And then I wake up and I see
take her Bitcoin is like making kids in Africa happy and like
getting them water. So I do think there's something
there that's like super cool. And I noticed it on my timeline
and I'm noticing more and more. They're trying to build more and
more like, but they're called boreholes or what?
Look, I'm not too sure what it's called, but they have a project
called like Demon Free Water and they've been doing that.
I just thought it was funny. I saw Melissa Mimosa mention it
and the and the and the YouTube. Comments.
No. So yeah, I don't know.
I just, I don't know. There's still like, I don't
know, you know, in a in a world you know at war, I sang the
little things like that, you know, a good, uh, you know.
So I like that crypto fixes this anyways.
At least they're not handing out crack.
Wait, Jeff, like, is there something you want to share with
us? Yeah.
I just, I thought that was the the second time you mentioned
crack in the space of spacecraft now.
That's the one tagline for ticket Bitcoin.
The dev smoke crack, so yes he did.
Which was super bullish again. Man's opinions are his own and
not so funny. Listen, it did start off with
death, smoking crack in the in the telegram, which is where I
realised we should have all bought in.
And then it's it. See, it starts with that and it
ends with changing. I know, you know, changed the
world. Who would have thought that
would have happened? Who would have thought, right?
Like, you know, maybe you need to launch a project, smoke crack
in a telegram, and then do good in the world.
Like maybe that's that's OK OK, I get it says OK, topic number
four. Yeah he puts the top.
Yeah OK. I said he put he put the topic
on hold. I'm about to get cancelled as
soon as it's going to totally just kick me off the stream.
I still have to laugh. Hold on.
It's so funny though. Like Sims just put the topic on
the board. It means like broke.
Shut up and those shut up. It's enough.
I mean, did you OK, they'll crack spoken dive bar.
OK. FDX clients may receive $9
billion shortfall claim by mid 2024 and the per the FTX
account. I'm reading it here after
extensive discussions with the ad hoc committee of the non-us
customers, customers, the unsecured creditors committee
and class action plaintiffs, The FTX debtors have reached a
proposed settlement of the customer property disputes.
So FTX the official account went.
I mean I don't understand if someone could like teach them
how to write a thread like they wrote 4 tweets, it was like 4
different tweets, It's OK. I mean, at least people seem
like they're going to get their money back, but they wrote the
tweets yesterday, you know, and says all creditor representative
involved agreed to support a related amended plan of
reorganisation to be filed by 12/16/23.
So look, this is good news. It looks like some people will
be able to get their money back. It says customers expected to
receive over 90% of distributable value worldwide if
amended plan is approved. I mean, guys, surely this pumps
the market too, no? That's a big, uh, a big
positive. I think it will take years for
people to actually finally get their money.
Like look at Mount Gox for example.
But. If in, you know, utopian world
everyone got their money back in like March next year from FTX,
that would be like a fucking massive like massive stimulus
effect into the market. I think man, a lot of people
lost money and a lot of good people lost money too.
I mean, I hope Tom Brady gets his money back.
Kevin the Leary as well. But no, I mean listen, Soby had
to sell the Sobie Jay Punk over this, right?
So we all want him to get the the Sobuj punk back.
Listen, the customer shortfall. Someone was struck after months
of extensive arm length negotiations among the FX
debtors and everyone. So this is about a report.
It represents about a billion dollars in the ftx.com customer
claims. Listen, this is really good.
Seems like John Jay Ray is doing the Lord's work over there, like
he was the next CEO of Enron that came to write fix the whole
Enron, you know, scam, you know, the whole the the fallout of the
fall of Enron back then. Then he was appointed CEO of of
FTX as soon as FTX went down. I mean seems like he's he's
doing the Lord's work here. Amanda, do you have any thoughts
on that? I think this is really positive
news for this space. Yeah.
Look, I think what this shows you is how much money was being
taken out of FTX before it filed.
And they've done a very good job at being able to.
Basically reclaim a lot of that. So they have the shares in Robin
Hood. They've had the property.
They have like hundreds of millions of dollars worth of
property. They have this AI firm
anthropic. I don't know if you like you've
been following that, but that could be worth the the best
steak in. It could be worth like.
Nearly a billion, maybe, maybe $90 million Stake worth $900
million now. It could be worth a lot and then
obviously since actually FTX, the daily FX filed, everything's
kind of pumped like Solana's done a 2X probably more now
Bitcoins up 70% ETH is up, like everything's up.
So like a lot of that they asked us even on their balance you
have gone up over that period. So there is there is
theoretically a world where everyone.
Could now do relatively well. Um.
And it's not to say that Sam is like, you know, he's not guilty.
He's, He's. Incredibly guilty.
This is some of the most this is more reclaiming of assets which
he'd taken out of the firm and being able to to to bring them
back. So that's good.
I mean, the FTC lawyers are getting something like $50
million a month at the moment. Whoa, you're an FTX lawyer.
You probably want to drag this out a little bit longer.
Drop out. God, yeah.
So I I think, like OSF says, it's a nice headline.
These Chapter 11 processes can take a long time.
Um, particularly when lawyers are incentivised to keep it
going. Uh, so it could.
We could be sitting here in a couple of years still talking
about this, but the initial indication is that it could be
pretty hard. What is a shortfall claim?
It says it's a shortfall claim. It's actually says by mid 2024
men, though it says FT clients may receive 9 billion shortfall
claim by mid 2024 shortfall. This means it doesn't fully
account for the amount that they are, so that's why it's a 90%
recovery. 99 out of 10 like 90% of what they had in.
So if you had like a million and you'd be getting like, yeah, and
that's a, that's a waterfall. So it could mean that FTX US
customers are actually, um, they're given 100%?
Wow. Yeah.
I mean, the FX customer seems to have very little.
It's like we're talking like 8 bill versus one bill like we're.
Yeah, exactly. Yeah, OK.
Wow. I mean, look, very good news
this morning. And if we can get even better
news that Sam's gonna spend 100 years in prison, then you're
set, right? Nothing better than him being
present. Question.
How much money do you think we got over his Camry?
Can we just watch that video again like the one he did with
with that, you know, that 32nd? Yeah.
Wait, which one Israeli guy? You know, the guy who does the
short videos? Things like how much do you make
and like the the bit where like shows him sleeping and he goes
like that. How much do you make Sam SBF?
Is that what it is like the the he's the best billionaire or
something that yeah call him. Surely you know it's the video
the famous one is easy. This is the.
World. Yeah.
From. The this.
All his money away and he's vegan.
Yeah, yeah, yeah. But The thing is we that's an
actual like big video. But then it's a it's nice, nice.
Daily, Yeah. Nice daily.
Yeah. Yeah, nasty.
Yeah, yeah, hold on. This is so good.
I gotta share my screen here. This is too funny about.
This is the one. It's 5 minutes long though.
Let's just get the first, the first bit like.
I mean what is that as the thumbnail?
OK. The guy you see next to me is
the most generous billionaire in the world.
And I found him. Hi, my name is Sam and this is
my story. Sam has crazy hair.
Sam is. Vegan Sam sleeps 5 hours a
night. Sam lives in the Bahamas with 10
roommates. Sam is 29 years old only, but
Sam has $22 billion and he wants to donate all of it.
Two charity, yeah. Well, for many reasons my best
best bit is very just chows down on the cucumber out of nowhere.
That's so. Remember when someone made a
remake of that video when, like, the whole, like, shit just hit
and I thought it was wait, you know what?
I gotta show another video of Sam Bankman fried.
Like, absolutely love. Like is this one?
Ohh God he looks so much better then.
Yeah, he had a role. Really fucked him up.
Yeah, man. When he went full crook, like
that's when he started to look even worse.
Listen, like, I, I. The way this man used like media
and things like you just saw to make himself look good was wild.
Man, like it's it's it's really crazy.
And that was, I guess that was his Forte.
But anyways, let's move on to our last topic of the day, a
quick one that came out a couple days ago, I believe, But
Ferrari, Ferrari, Ferrari to start accepting crypto payments
in US, Europe to follow. The Ferrari will subsequently
extend the scheme to Europe in response to demand from its
wealthy customers. So yeah guys, it looks like a
Ferrari is going to start accepting cryptocurrency.
I'm not exactly sure which cryptocurrencies.
Uh just yet, but you will be able to buy a Ferrari in the
next bull market with your with your crypto.
The question rises when Lambo but guys are you would you guys
will you guys be buying a Ferrari in the in crypto?
Think I've I've. Past that stage in my life, I
would say I mean, they really time this wrong, right?
Like. Or or did they one?
Just go lock it. Thanks.
Just waving them in. Does the Terrari know something
we don't? I mean, hopefully, hopefully,
that's exactly what's happening. The global elites have decided
that this is the time to to move all your money into into
Ferraris. Yeah, so according to Reuters,
the luxury car maker is working with the crypto payment
processor Bit Pay to accept Bitcoin, Ether and USD C to
purchase for purchase stateside, which customers were apparently
begging for. Europe is expected to get the
same treatment early 2024, with early regions to follow.
I think customers were begging for that like a year and a half,
two, maybe two years ago. Thing.
But you know what? Like listen again, like we
talked about earlier, headline the message.
It's good, right? It's it's saying that it's hard
money, that's actual money that you can use and that you can
spend in the real world for real world assets, so.
I guess it's, uh, I guess it's only bullish Mando I I was gonna
cover earlier the XRP Roblox thing, but I guess it was
debunked, right? Yeah, I think our favourite
thread or basically pop that little balloon.
So yeah, I don't think that's that big a deal.
Ohh man is Mandel Minutes reporting fake news.
It wasn't fake news, but it wasn't as big as everyone hoped
it was. Your answer should have been.
It's not my fault. It's all of it's actually a
collective fault of all of us, actually, in this, in this crazy
world that we live in, where people are trying to get news as
quickly and as efficiently as possible.
It's not really my fault. It's everyone's fault.
You're really good at this. Next time I get cancelled, Next
Bull Market calling you for help.
Ohh man I I'm not expecting. What?
No, nothing. OK, yeah, let's keep it.
Nothing. Anyway, so that wraps it up.
Some great topics today. A good show, Loved it.
Hell of fun with you guys. I will not be here tomorrow
morning as I will be on an aeroplane, but the boys will be
there and and and On the contrary, the boys will not be
here on Thursday. But I will be here to host a
show to talk about all things F1 and Kraken as well.
Just a quick note. The retros tomorrow.
The record. That was cute.
That was so cute. Oh my God, you said at the same
time. One you know, if there's a red
guy in there, you guys should clip that video and like, make a
song direct. So it's.
That was cute. That was cute.
You guys excited? Yeah, it's gonna be the It's the
first one that we've done that's like open to the public.
So if anyone's in London, you can go ahead and claim tickets.
Oh no. But it's gonna be, yeah, I think
it'll be an interesting one. I think it's gonna be a bit
different to the past one. I'm looking forward to it.
Sick. Listen, have fun.
Let me know what happens. I'm sure it's gonna be great.
I mean, it's not going to be able to drink, so it's gonna be
interesting for you. It's gonna be a a sober echo.
I'll be. I'll be smashing the fact you
can't even drink. Yeah, did he can't do anything.
He's going to be doing like burpees on the on the stage.
You know he's gotta do his 340 burpees at night.
So he's gonna be doing burpees on stage.
Show me those guys real quick, like, let me see where you're
at. Ohh damn.
Whoa. I gotta get back to it.
Alright guys, as usual, our show is powered by Kraken NFT.
Check him out. kraken.com/rug Radio OV Mando Have a wonderful
rest of your day. And with that, with that, with
that, we'll see you tomorrow morning, 10:30 AM Eastern
Standard Time, 7:30 AM Pacific Standard Time for another
episode of Jim Web 3 on Rock Radio.
Let's go. And it's a beautiful day.
Have a beautiful day. GM.
On this beautiful day. Good morning 2:00 and 3:00.
Commando. And it's all on road radio.
It's a beautiful day. Have a beautiful day.
Cheers.