Alex Mashinsky F*CKS Crypto Holders One More Time!

Alex Mashinsky F*CKS Crypto Holders One More Time!

bitcoin’s price is in a very shaky spot a pivot point and while we did break down this support level at $57,000 Bitcoin flushed all the way to $53,000 we have since reclaimed what should have been resistance could still be support will this price hold or is a deeper flush coming before we get to that breaking news and this affects all Bitcoin holders Alex mashinsky is trying to Fu the crypto Community one one last time you remember Alex mashinsky and Celsius network of course Alex mashinsky encouraged you to deposit your crypto with him into celsius instead of the banks because unlike the banks who loan out your money and barely give you anything Celsius was giving customers like 80% of the yield that was generated and best of all this yield was practically risk free or so he said here coffeezilla Recaps the scam on Joe Rogan Alex machinski CEO of Celsius his whole thing was banks are evil which is not crazy I mean it’s like you know you can understand why a lot of people resonated with that he said like they’re greedy yeah and that’s true like it’s like and he’s not yeah yeah he goes like banks are not your friends true statement Alex and then this interviewer is like but Alex is your friend and he’s like yeah he’s like you basically you can take the same ride as me 8% 8% a year I’ll just give it to you you know we’re we’re giving we’re doing the same thing as the banks we’re loaning out your money but we’re going to pass on 80% of the revenue back to you instead of the banks which they take all your money right um so people bought into that they said that sounds great like a new hey the internet changed everything you know we think crypto’s going to change everything why not have a bank that instead instead of serving its shareholders it serves its customers it kind of like there’s something that makes sense there it’s really compelling and then come to find out Celsius was never making money they said they were paying out you with their profits they were paying out you with new deposits like new people were coming in and they were paying you out and so it was this giant Ponzi scheme where they set the rewards because they knew if it’s high enough people are just going to flock to them and so but they had this compelling explanation for why like it kind of made kind of made a little bit of sense and then they when it finally goes wrong he just get he just walks away so the new news is this because right now Celsius is currently going through a process where they have to pay out their creditors or they will at a certain point so Celsius needs some money to pay out their creditors where are they getting this money well some of it is trying to be collected from people who withdrew their money 90 days before Celsius declared bankruptcy they attempting to claw back those funds plus more by suing for June 14th 2024 Market rates instead of the 2022 rates what Celsius is attempting is Criminal this is possibly one of the most most insane things I’ve read about crypto this entire year so you remember Celsius that exchange back before 2022 that had to be shut down for I believe it was also misuse of customers funds well they’re trying to sue people who try to withdraw their money 90 days before they went bankrupt but it gets even worse in 2022 I don’t know if you remember but Bitcoin and ethereum and all these crypto prices were a lot lower than they are here in 2024 they’re trying to sue for 2024 prices that way they can take that money from these users and redistribute it to the users who lost funds that are probably trying to sue them what do you think about the situation and of course it’s important to say because I’m sure some people are commenting right now this money that they’re trying to claw back most of it’s probably not going to go to the creditors the money that they’re clawing back from the creditors probably most of it’s going to be going to the lawyers and not the people who need it most so yeah this is insane Celsius is low one of the biggest cancers in crypto mashinsky constantly described Celsius as a bank gaslit doubters by telling people all loans were over collateralized and bragged that Celsius had more proof of deposits than any Bank meanwhile he was knowingly operating it as a shitty investment fund aping nfts pool twos and all sorts of other crap he also withdrew 10 million personally right before the bankruptcy did you know this that mashinsky withdrew Millions personally before Celsius went bankrupt Celsius top Executives cash out over $17 million before bankruptcy so when they was holding up everybody withdrawals from the platform they was cashing out Millions Alex Alex you got some explaining to do follow for more content by the way as long as we’re airing out grievances do you remember in the beginning of the Celsius bankruptcy and lawsuits when Celsius published a 14,000 page document detailing every user’s full name linked to timestamps and amount of each deposit withdrawal and liquidation a horrific breach of privacy all while he just kept promising users 7 to 8X on their money for everybody everybody in the world could have got access to this is what he used to say Celsius Network pays interest once a week we can put a billion people on the ethereum platform using Celsius we are in nc20 token and we can support that application tomorrow there’s no problem with scale the only way today for everybody on the planet to earn 7% interest seven times more than the bank is using the blockchain using Bitcoin using St you you realize you realize you just said something that’s impossible right everyone on a planet to earn 7% interest right you realize you just said that right it is impossible the money doesn’t grow on trees you can’t give everyone 7% but to be honest it’s more the government’s fault than Celsius or any one entity because our ridiculous Twisted legal system actually gives a case like this an excuse us to exist and I would chalk up Celsius failures as another failure of Gary Gensler he’s racking up so many at this point the biggest crypto failure in history is probably FTX at $9 billion were you the chairman of the SEC when FTX collapsed yes and how many times did you meet with FTX prior to their collapse I think my public record shows two you met it with FTX at least twice and arguably the second biggest crypto failure in history was teral Luna who was the chairman of the SEC when paraluna collapse sir we broad uh you were sir reclaiming my time you were does it concern you that your approach to the digital asset industry is actually driving this industry out of the United States we’re trying to drive it to compliance and if they’re not complying with the laws you say the crypto Market is rif with non-compliance however existing SEC rules make no sense for blockchain-based companies and following them would actually kill these businesses your regulatory style lacks flexibility and nuance and as a result you you’ve been an incompetent cop on the beat doing nothing to protect everyday American now bitcoin’s price is in a very shaky spot here’s the good news though this has a strong possibility of being the local low it’s possible Bitcoin doesn’t go any lower than this of course it’s also still possible 51 gets hit or 49 gets hit we’ll really only know after the fact if you are a believer in the future of this space like me the level of dip that we have seen thus far is a great area to start stacking again in my opinion there’s plenty of light at the end of this tunnel there’s plenty of green flags that show us that crypto as an industry is here to stay in the US and around the world a judge has just ruled that BNB token is not a security and dismisses the claims from the SEC that’s right a judge just slapped the sec’s suit on binance down saying the secondary sale of binance’s BNB token are not Securities AKA when sold to retail on exchanges quote the SEC failed to prove how secondary buyers of BNB purchased the tokens with the expectation of profits rather than for utility and of course this has broader implications on the whole Space meaning crypto tokens in general are not Securities specifically when traded on secondary markets also stable coins are not Securities which is a big deal too of course we have so many entities buying Bitcoin nowadays it seems very unlikely Bitcoin stays at these levels forever I mean we point out different entities all the time corporations persons countries in this case El Salvador continues daily Bitcoin acquisition amid market downturn and there’s plenty to look forward to with this spot ethereum ETF coming sooner rather than later possibly days grayscale surveyed their clients and their data shows a 25% increase in US investor interest in ethereum if a spot ETF is approved and not Republicans not Democrats this is bipartisan on either side of the political Zone they’re interested in ethereum they’re interested in crypto of course we still need a cryptocurrency president guys make sure you get your tickets to bitcoin Nashville this month Donald Trump might be a speaker there either way I use altcoin daily for 10% off linked below my name is Aaron if you’re interested in making money in cryptocurrency subscribe to the channel we keep you updated on a daily basis see you tomorrow

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Timestamp:
0:00 – Bitcoin Price Update
0:22 – Alex Mashinski (Celsius Network) Update
5:50 – Gary Gensler racks up another loss
7:04 – Bitcoin price lows are in?
7:30 – Why 80k bitcoin is closer than you think
9:06 – final thoughts

**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 & Ethereum.

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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, 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, SEED, TET, COTI, AIT, Prisma, Prop, LMWR, Aethir,

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