Genesis is having a hard time raising cash for its lending unit, and it is warning potential investors it could possibly file for bankruptcy. If Genesis were to file for bankruptcy, that would imperil Digital Currency Group.
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Timestamps:
0:00 – Genesis warns of bankruptcy
1:22 – Why this is a big deal
1:50 – Genesis liquidity CRUNCH
2:26 – How we got here
3:02 – CZ Binance concerns over Coinbase & Grayscale
4:34 – Why this is a big deal (pt2)
4:59 – The state of Genesis, Grayscale, & DCG today
5:42 – 2 possible scenarios
6:23 – Genesis has “days not weeks”
6:37 – Join us at these crypto conferences
7:14 – DCG on verge of Total Collapse?
8:50 – DCG CEO letter to shareholders today
**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin.
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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST EDUCATION & ENTERTAINMENT! USE ALTCOIN DAILY AS A STARTING OFF POINT!
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This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
Most of my crypto portfolio is Bitcoin, then Ethereum, but I hold many cryptocurrencies, possibly ones discussed in this video.
Coins I hold or will hold more than $1k worth (in no particular order): BTC, ETH, ADA, SOL, DOT, AVAX, EGLD, MINA, SUPER, FEAR, CELL, DON, VPP, XCAD, RUNE, XDEFI, OPUL, LINK, RFOX, INJ, XPLOT, REALM, NIF, VPAD, SENATE, SIDUS, FORM, DON, CELL, BICO, SIS, MATIC, IMX, METIS, BNB, MANA, SAND, THETA, TFUEL, GMT
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Schumpeter hast been talking about destruktive creation …maybe we need a powerful storm to wash away all the debris that ist still Happening in this space. You all know, that this ist still a nascent young sector, Wild West West kind of behaviour, free for all…and so on!! Well, we'll live in to See and hopefully use 2023/24 to grow Stringer….
That's an extreme amount of customers' funds disappearing between these big companies. Where are these customers' funds disappearing too. Every debit has a credit, so wherever these customers' funds are disappearing too, someone account or an account is being credited? It's so easy for the Rich to get Richer in the West.
I left the boat along time ago, I’m hear to watch the downfall 😂
what's the point of making a video with reading tweets …?
I feel those who would allow the market dynamism to determine when to trade or not are either new in space generally or probably just naïve, the sphere have seen far worse times than this, enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, I'd say that more emphasis should be put into trading since it is way profitable than hodling. Trading went smooth for me as I was able to raise over 11.4 BTC when I started at 1.5 BTC in just a few weeks implementing trades with signals and insights from Gerry Schmidt, I would advise you all to trade your asset rather than hodl for a future you aren't sure about or hold it and risk losing all….
So Binance is till safe right?
Crypto investing has👆👆 brought me great success!!! Irrespective of the economic depression I can boast of over $12,000 dollars every week on my
investment. All thanks to Young.Thank you for your focus on quality stocks….
It’s amazing to me that with the Fed,m tightening, stock market crashing, housing crashing, economy crashing, crypto companies crashing, etc., bitcoin is still three or four times higher than it was four years ago. Who are people that are willing to buy bitcoin at this level?
And let me guess, I’m supposed to feel bad for them when they lose all their money in the next few months?
love your reporting. Direct. To the point and no fluff!
5:08 can someone explain what’s causing all the different colors and circled ‘x’ ? Is there some overlay or something he’s using?
6:35 if you’re asking for people to follow and like, maybe respect your viewers and those who engage by deleting scam/spam comments. No reason spam comments should be left up so long. Takes a channel operator 5 min to delete them.
CZ calling out FTX/SBF as a fraud was a good thing but he needs to either put up facts or shut up about other exchanges otherwise he's starting to make himself look like he wants to destroy other exchanges just to grow binance
No one likes someone who tries to ruine a competitor by using FUD
Lift your game CZ
The criminals write the script. They knew the Crypto space was unregulated. The ruling class set up their front men and ripped the public off and then used the collapse to justify the regulations they give you. The bad payers go out of business and the real utility tokens rise. Did you ever think they would let the public have their own money system?
Circle and Coinbase could be next. There is a high probability of their collapse because they have no transparent reserves.
Oh shut up. So many sensationalized headlines
And still, Binance is not exposed, if any, to those other cryptocurrency companies.
Verge is the point when buying becomes a real bargain. This is when you can make a fortune out of 1000 usdt if you invest right and know how to wait
Bitcoin only
Crypto won't exist in a few years
Cryptocurrency haters are loving this. I hear Murdoch and Buffett saying,”We told you so!” Embarrassing 🤦🏽♀️
Buy my pog's !
Too much STEALIN!!!!!
As soon as a cypto company makes a statement of "everything's fine" after another company checks out…….You know you've lost all your money.