Big Trouble Ahead | What Does Bitcoin’s Fall Mean For The Markets?

Big Trouble Ahead | What Does Bitcoin’s Fall Mean For The Markets?

is Bitcoins drop a canary in the coal
mine for all markets does that mean
there’s big trouble ahead for Global
markets because it’s a sign of lowering
liquidity well that’s what Bloomberg has
to say in one of their articles I think
I can push back on that but going to
discuss that and much more we’re GNA
hopefully have metal law man James
Murphy on waiting for him to show up
otherwise I got a bunch of news to
discuss with you guys let’s
[Music]
go what is up everybody I’m Scott mker
also known as The Wolf of all streets
before we get started please subscribe
to the channel and gently smack that
like love heart button that is right
below I’m going to go ahead and tell you
about our amazing sponsor today to start
the show of course it is Lumin I told
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Lumin now we got a lot to talk about
today I’m going to bring James on in a
second but first I just want to show you
the market obviously a decent little
bounce up 1.5% on bitcoin in 24 hours
but of course salana and meme coins the
second people get a whiff of any decent
news or the hope that we could be
bottoming they Rush right back into
memes which to me means there’s more
pain to come because it just can’t be
that easy to win in the casino to the
topic at hand really quickly just to
address it before I jump into uh
conversation with James Bitcoin slump
triggers warning of trouble ahead for
Global markets the largest disal asset
is trading around a two-month low B
trees Morris says Bitcoin is a canary in
the coal mine so the implication here is
that Bitcoins drop is a signal that all
markets are going to
drop I just think we’re in a having
cycle had extreme froth in the crypto
market and prices are dropping as a
result I think there’s nothing new here
every single time Bitcoin goes up or
down we get new narratives but the no
that Bitcoin is somehow leading Global
markets to me is nonsense so I don’t
mean think it means much for markets
anyways let’s bring on James right now
good morning sir how are you today I’m
fantastic it’s great to be with you
Scott it’s a little early for me I’m in
Las Vegas it is literally Dawn uh but
nevertheless I am excited to be on with
you this morning you’re supposed to be
awake until this time in Vegas that’s
well the younger version of me that that
might have been possible yeah so listen
we have a there’s a lot I want to unpack
with you because it’s been a big couple
of weeks here uh obviously we haven’t
spoken about consensus and the SEC and
the battle there I don’t even know if
we’ve talked about custodia and their
ongoing lawsuits for their fed master
account man there there’s a lot and
these attacks on self- custody that seem
to be coming from everywhere so so I you
choose one let’s start uh with with your
favorite I’ll tell you what uh Scott
what is funny is uh I’ve only been on
social media for two years um and my
thought literally was what am I gon to
talk about after this FTX thing you know
has wrapped up there’s nothing a lawyer
really can speak to in crypto and boy
did I ever get that wrong I mean the
action that is going on uh is incredible
and you know many many people have been
calling for an
offensive against the
SEC and by golly we have one now you
know there are three cases filed in
Texas against the
SEC um focused on you know what is I
think rightly perceived as overreach by
the SEC and trying to regulate every
single digit
asset no matter what its characteristics
may be um and so I think that’s that’s a
good thing I think that’s a good venue
and of course so consensus has filed
their lawsuit against the SEC seeking a
declaration that ethereum is not a
security and it’s funny when the Henman
emails came out I was on with you and I
said boy can you can you believe how
absurd it is that internally at the SEC
they were saying hey Bill Henman don’t
say ether is not a security because you
never know in the future we might decide
to call it to say it is a security and
pursue enforcement uh on that changed
Theory and here we are um apparently uh
so it’s interesting it’s a it’s a
unusual move for the lawyers to file a
declaratory judgment at ction in
response to receiving a Wells notice the
purpose of the wells process is to give
a defendant a chance to talk the
enforcement staff out of their stated
intent and their stated intent is we are
going to recommend to the Commissioners
that they authorize an enforcement
action against you here’s some of our
Theory against you now you get to submit
a memo to us explaining why we’re wrong
uh and that memo will be submitted with
our recommendation to the Commissioners
and maybe you’ll convince them but uh
that’s typ is rare that that works once
you’re at the end of an investigation
and the enforcement staff has concluded
they’ve got you um typically the uh ex
the Commissioners will authorize
something so if you don’t want to fight
that’s kind of your last clear chance to
do a settlement so yeah ethereum didn’t
settle they didn’t submit a Wells uh
submission they just sued uh and what I
love about it is they clearly had that
lawsuit teed up right because it was the
day they got the wells notice so it’s
like they were waiting they knew it was
coming and they had their response
planned and they just filed at the
second that Wells notice finally hit
that’s what ex right very quick same
lawyers who represent coinbase in that
case in uh New York uh are representing
consensus now so that it’s the same
actual lawyers not just the same law
firm and so they know all about these
issues and you’re right they were ready
to go uh when the wells came in and it’s
a very my expectation is the SEC does
not like that venue so they’re going to
uh try to get that case
dismissed um as early as possible and uh
we’ll see what happens is that just a PR
move I mean can the can consensus
make the courts deem that ethereum is
not a security it seems like they just
like effectively they erased the bad
press of the wells notice by filing this
and everybody paid attention to the fact
that they were suing the SEC which just
seems like a brilliant stroke of Genius
regardless of what the outcome is or how
long that’ll
take well the issue here is whether um
the claim is ripe at this point
is the U giving of a Wells notice
sufficient to trigger the right of a
defendant to seek a declaratory judgment
um that ether is not a security as well
as the claims related to the metamask
wallet um and it’s
unclear uh but it’s it’s in a aggressive
move for sure and I do believe the SEC
doesn’t like this venue and will try to
dismiss on the grounds that it is it’s
premature the claim is not yet right and
what that means is we the SEC get to
decide what venue is going to entertain
this
dispute the SEC has no motivation to
declare ether either right they just
want to keep with the uh Gary
gendler pretend you didn’t ask the
question strategy and just let it remain
extremely vague as they have I would
imagine the statute of limitations on
going after the actual Ico of ethereum
or the the the launch would be in effect
right I mean they can’t go after them
now at this point it’s been over 10
years or so right maybe nine years eight
years uh that’s right about 10 years um
so we only have bits and pieces from
this complaint as to what exactly is
that issue there’s been a lot of dispute
on Twitter about what it means uh what
we’ve seen but uh what it says is that
the SEC was
investigating uh sales of a number of
Securities
including
ether um and it says that ether is a
security um and a lot of people are
pushing back very hard on Twitter but it
says what it says all we can go by is
what’s in the complaint and what they
said is we are investigating certain
trades in Securities including ether
which had no effective registration
statement and did not have the benefit
of an exemption which means it was
essentially illegal to trade um if
there’s no exemption it’s unregistered
no exemption so they’re looking at
trades going back to
2018 I say that based exclusively of on
the allegations in that complaint which
were drafted up by the loel lifton law
firm which is a very very high-end uh
group of smart people there at that
firm yeah makes perfect sense let’s move
on to some of the other topics we have
this sort of outright attack on self-
custody of late we had an FBI letter the
IRS releasing their guidance effectively
saying that everyone is a broker even
self-hosted wallets this seems like the
next venue right now for them to come
after crypto what I find ironic is that
we had a huge swath of
bitcoiners that celebrated the SEC and
said everything’s a shitcoin
everything’s a security celebrated the
government going after
everything and now this is obviously the
worst case scenario for bitcoiners if
any of this happens and somehow they
effectively ban self- custody and
alizabeth Warren has a bill with 20
Senators already supporting it that
basically makes self cust illegal
well you
know policy decisions like this are
supposed to be made by congress not by
agencies of the executive and what we’re
seeing is a lot of actions by executive
agencies not just the SEC but the fed
the treasury IRS uh Etc where they’re
just making policy that really has
tremendous
effect on you know things we care about
like self- custody um and it’s not
appropriate and we keep asking for
Congress to do something but it’s sort
of dysfunctional you know it is so
evenly divided and there’s so much um
misunderstanding I guess it be the best
way to put it but outright hostility to
anything having to do with crypto I
think you have to reach the conclusion
this that this operation choke point
2.0 whole of government effort to
strangle crypto in the United States is
real um and people need to recognize
that and and they need to call their
congressmen and Senators um and and get
activated on this because you know
rights once lost are difficult to
recover ever yeah that that that that’s
train only goes in One
Direction typically yeah we we’ve seen
that over and over again I mean speaking
of Elizabeth Warren and Senate I
recorded a podcast on Tuesday with John
Deon obviously both of our Collective
friends a he really believes he can beat
here which I I agree with but B he
actually kind of went down a rabbit hole
on this and believes that because of her
past statements this is all about a cbdc
this is all about getting ahead of
inevitable Central Bank digital currency
so that the government can control the
money and control the future in that way
which is even more nefarious and
terrifying I think than my own views on
this because you know as an internal
Optimist I’d like to believe all these
Senators just don’t even understand what
self- custody means or the implications
at the IRS of attempting to you know uh
make a bunch of self- custody while it’s
uh do kyc at AML which is literally
impossible but do you think that there
really could be some more Sinister
behind this or they don’t view it as
Sinister by the way they think a central
bank digital currency is a good thing so
Sinister for
us well um I don’t know there’s logic to
the idea in that if you are planning on
rolling out something that is going to
give you really comprehensive
surveillance Powers over Americans and
what they do with their money if that is
your intent
then you don’t want a viable alternative
out there you know like like a crypto
you know crypto blockchains um where
people can just opt out and and swap you
know value peer-to-peer and and customer
to Merchant Etc and opt out of your cbdc
if if total surveillance of um you know
American citizens is your go then you
can’t have an alternative one thing I
would say Scott is the worm has really
turned pretty quickly um because in the
1990s there was a statute called Graham
leech blyly that was passed with
bipartisan support and the purpose one
of the purposes of that statute was to
protect the
individual Financial privacy of
Americans and both parties agreed that
that’s a good thing of course now there
it appears to be a majority that think
it’s not a good thing and in order to
get the bad guys who are engaging in
money laundering or financing of
terrorism what we really need to do is
not focus on the bad guys you know uh
and surveil them but rather let’s
surveil the whole of the American
populace and when we get all of that
data we’ll be able to sift through and
find the bad guys much more effectively
that theory is what is at now and it
violates the Fourth Amendment to the
Constitution and it seems like only a
minority now uh in Congress really care
about that that protection of our
privacy that’s right there in the Fourth
Amendment of the
Constitution yeah and we obviously have
as a part of this attack on self-
custody the samurai wallet case those
guys were a big gratuitous and they uh
inviting of Russian oligarchs to utilize
their service right so we’ve seen
tornado tornado cach mixer uh the
programmer from tornado cache uh in
Europe he’s I believe still in jail so
we know that there’s an attack in
General on self- custody but also this
tends to bring the argument that code is
supposed to be free speech right and so
do you think this could literally become
a First Amendment case that goes to the
Supreme Court a lot of people believe
that it could because a lot of this
simply is code these are not companies
these are not individuals looking to
profit it’s simply uh exercising your
First Amendment right to free speech to
utilize some of these
things so I think the samurai guys have
have been public uh that that’s one of
the arguments that they intend to make
um and you know the
issues are they somehow taking custody
of uh digital assets that get get mixed
I’m not an expert not an engineer full
disclosure exactly how how that works
but it sounds like who’s really got
custody there um is one issue but you’re
right they’re going to try that first
amendment argument it may be that there
is a model uh of what they’re trying to
do that might work but I mean the
mentality here is so strong throughout
the government that you’ve got to do you
know kyc on anybody who accesses your
software which is a new idea you know
very new um and whether that’s going to
work uh I don’t know but I’ll tell you
typically when people are prosecuted by
the government typically they’re
convicted that I mean the the numbers
are very very high conviction rate and
that’s why so many people plead guilty
before going to trial at a sad truth but
um you know when you go into court and
the government is against you it has all
of the um resources of the FBI to
investigate every aspect of everything
you’ve ever done uh you know you’re
really really up against it so it’s
helpful you know for the the community
to to step up uh and submit amik briefs
as as some of the players did on tornado
cash and I I think we might see more of
that but to your point about the samurai
guys going on Twitter and inviting
Russian ol you know this is Scott this
is an example as is the dquan thing of
you know what maybe hire a decent lawyer
and then once you’ve hired them follow
their advice and Doan just Sam didn’t do
that either Sam Sam was apparently the
worst uh the worst clent never for his
lawyer so yeah so yeah uh uh Public
Service Announcement you don’t know
better hire a lawyer who knows this
space and then follow their advice which
is shut up yeah but speaking of people
who hired good lawyers and did follow
their advice cz’s trial proves it pays
to cooperate he obviously paid some
large fines but four months right uh and
not only did the guy get four months but
it seems like quite literally everybody
is is on his side which I find really uh
astounding you know like uh for all the
things he’s accused of and apparently is
pleading guilty to you would think that
the community sentiment would be that
this guy’s a criminal but it’s literally
like man we can’t wait to see you back
in four months we’ve supported you the
whole time you’re the good guy really an
incredible by the way I like CZ but
really an incredible just PR SL
listening to your lawyers campaign
brilliant absolutely brilliant across
the board both the legal strategy and
the pr strategy uh just to use a you
know a market analogy the bid from the
government was three years we went him
in prison for three
years the ask was
probation the probation office in uh
where he was
prosecuted uh came in with a
recommendation of five months that
didn’t really get as much
attention but my guess was it’s going to
be close to five months you know and and
it turned out to be four months and I
think the letters the hundreds of
letters that he submitted about what a
philanthropist he was um were effective
and the judge said so at the sentencing
hearing to depart by a month from the
probation office’s
recommendation um so I I think one point
here is the effective lawyering
came not at the sentencing but rather
what he pleaded guilty to and people
need to understand he did not plead
guilty to money laundering he plead
guilty as being responsible for the
failure to implement an effective
anti-money laundering compliance process
policy and procedures kind of procedural
claim that’s what he pled guilty to and
his lawyer pointed
out uh in their briefing nobody’s ever
gone to jail for that ever you know for
failure to implement policies and
procedures while the indictment you know
had a lot of information about the
really they had these guys on WhatsApp
chats and texts saying that you know
let’s let the Americans uh you know do
anything you can effectively to let the
americ yeah they had it all there right
and and and more of like EV you know
Iran evading sanctions and all of that
stuff you know the specifics about what
was done through that platform was in
the indictment but he didn’t plead
guilty to any of that stuff so the
effective
lawyering uh by guy named Bill Burke at
Quint Emanuel uh was here’s what we’re
gonna plead guilty to people typically
don’t go to jail for that I think I
think this was the same thing that they
got Arthur Hayes for and he got home
confinement you know at a really nice
tennis he played a lot of tennis he told
me and I just had to be home at night
you you know the the one wrinkle to this
that’s that’s a little bit interesting
is there is a rule with the Bureau of
Prisons so the judge does not decide
where somebody goes to serve their
sentence it’s the Bureau of Prisons that
does that and it’s a little known fact
that if you are not a US citizen under
the policy of the Bureau of Prisons
you’re a higher risk category
then you might otherwise be and so
therefore a foreign National is supposed
to be not eligible for minimum
security imprisonment so he could go to
a medium security prison which is not
nice I’ve been there I visited prisoners
people who think that they’re you know
really nice prisons are sadly mistaken
go visit one you know and see for
yourself it’s really really unpleasant
uh so
you know you would think that they’d
make an exception for this uh
billionaire uh but they may not you know
as a matter of policy and he would find
himself in a medium security prison
which is not going to be a pleasant
experience yeah I totally agree there’s
there’s and you know you said the ask
was three years but if we Zoom back a
year when binance started to get in
trouble and we remember the conjecture
of what was coming from the do OJ after
the SEC there were people who thought he
was going away forever ever right based
on what we saw so it was it was even
brilliant just to get it down to where
three years was the worst case scenario
so you know just really crazy path
exactly right and and another takeaway
here Scott is there’s a real upside to
not stealing money from your customers
you know uh from a PR standpoint if if
you’re gonna steal money from your
customers you’re GNA spend a lot of time
in jail if it’s sort of like well it’s
Technical and there are no like us
victims per se the government would say
we’re all victims because there was
money laundering blah blah blah blah
blah well yeah true but you don’t have
thousands of people saying you know with
pitchfork saying the son of a is
stolen my money he needs to go away for
good yeah there’s one last story before
I let you go that I want to ask you
about which is uh you may have seen
Roger Veer Bitcoin G is charged with
evading almost $50 million in taxes this
is a tough one for me to unpack once
again I see a lot of bitcoiners
celebrating this celebrating the
government cracking down on him because
obviously Roger verer ended up
supporting Bitcoin cash even though he
was one of the most prolific early
bitcoiners he supported the fork and
Bitcoin cash then he bought bitcoin.com
to pretend that that was actually about
Bitcoin uh and it’s really a Bitcoin
cash website but really interesting when
you dig into this because
people might remember or might not but
it was really the wild west with Bitcoin
in the early days and he renounced his
citizenship in
2014 and this stems back to him not
telling them how much Bitcoin he had in
2014 when Bitcoin was a non-asset not on
anyone’s radar it’s pretty hindsight
right now to care about Bitcoin from
2014 of course there was potentially
some evasion in 2017 when he moved some
Bitcoin from companies he held that were
in the United States but this’s a guy
who is no longer United States citizen
and is now in 2024 getting attacked for
Bitcoin he was holding in 2014 that
nobody cared about at the time this is a
very strange nuanced case for me and I
think if you’re going to celebrate the
United States government going after
this guy then watch your
ass yeah no kidding so we’ve got a law
here in the United States that says if
you want to really exit and renounce
your citizenship you got to hand over
10% of everything you own to the
government it’s not really even a tax
it’s just the government is going to
confiscate 10% of what you own so if you
don’t sell everything you own it has to
be valued in some way and so the he had
a lot of Bitcoin uh when he renounced
his citizenship and you know one
argument is if he had sold it um it
would have dumped the market and by how
much nobody knows you know go back in
time and figure that one out in a time
machine you know it’s hard to do um imp
you know nearly impossible but you know
it’s scary for those people who have
renounced their citizenship over the
last you know decade the government can
come after you you know 10 years later
and say you did the math wrong um he
hired very reputable lawyers from what I
understand to advise him on what he had
to do and how how to do it uh
but uh you know you don’t know anymore
Scott whether to believe everything you
see in indictments you know but should
this guy be going to jail or should like
should he say I’m sorry and pay the $40
million in taxes or whatever it was but
by the way it wasn’t at the time so it’s
absurd right this was not worth uh this
was not
760,000 Bitcoin when it happened but why
is this a crime rather than a you
screwed up your taxes pay them you know
yeah you know I I believe there’s an
intent element there just like tax
evasion you know this is evasion of the
law uh and you didn’t comply with the
law and if you intended to fool the
government by saying well this is what I
have but you’ve got actual Bitcoin not
in your name but in the na you know in a
company and then you transfer the
Bitcoin from the company to yourself
later and have not disclosed everything
appropriately then yeah they can process
Ute you falsified they falsified as tax
form that that I get if it was with
intent right yeah why would they want to
do that Scott why would they want to put
it in jail well to send a message like
all the other messages that are being
sent right now you should be fearful of
of dealing in
cryptocurrency um and not you know
checking that box on your tax return and
thinking you can get away with hey I’m
self- custody these ass ETS they’ll
never know don’t do that comply with the
law or they will comfort for you and
make an example of you and and I think
that’s what we’re seeing I mean 10 years
later to go after this guy and get Spain
to arrest him and and all of this stuff
um this is they’re making a point yeah I
got into crypto and late 2016 but I
remember
2017 all of my Wall Street friends and
stuff looking at it and the consensus
was that this was the Wild West nobody
even cared about taxes in it I always
paid my taxes if the IRS is listening I
always reported my taxes I also had
barely any money in crypto back then
but that you know the government didn’t
know how to handle this and this was
2017 right you don’t really need to
report it it’s like a you know going to
a casino or something and these aren’t
real assets they haven’t classified them
there’s still no wash sale rules you
know what I mean like it just that was
the it’s just really hard in 2024 to
punish someone for a consensus view from
2014 or even
2017 yeah that’s exactly right and and
what they’re going to need is some sort
of evidence an email or somewhere text
where he knew what he was doing was not
okay and did it anyway uh and with that
without that I you’re absolutely right I
mean it was an un unknown confusing
vague situation back then and you hire
lawyers to to give their best you know
estimate of what the what the right
course of action is at the time you know
and and try and you need to follow that
once you receive that advice so if he
departed from the advice he got from the
lers that too would be a
problem yeah I I this doesn’t sit well
with me it it it kind of is like the
samurai situation because Roger ver was
a very outspoken expat
there’s a guy with heavy libertarian
leanings really believed in Bitcoin for
the reasons that people should probably
believe in Bitcoin from the very
beginning this is a guy who said f the
US government literally renounced his
citizenship and continued very vocally
on that tack for a long time so probably
drew a hell of a lot of attention to
himself and like you said makes him the
perfect person to scare everyone from
doing the same thing in the future
that’s right yeah yeah anything else we
might have missed here that’s uh well
let’s talk about John eating a little
more because we have the uh we have the
opportunity like I said he thinks he can
win I think he can win I know you think
he can win and I know it’s not really
really announced yet but John James and
I are throwing a
party uh May May 30th in Austin Texas
for anybody who’s going to be at
consensus or anybody who just wants to
come party in uh Austin Texas on May
30th you don’t have to be a cons
consensus a fundraiser for John we’re
still working all the details I know
Anthony scaramucci is going toh support
it as well and working on I think a
pretty heavy guest list of Heavy Hitters
who have all made their donations but we
believe this is a really really
important fight it sure is you know uh
freedom is on the ballot Financial
Freedom is you know an inextricable part
of the big picture of are you free in
this country and so you know having the
right to spend your money invest your
money in the way that you think is best
uh um is essential to a free Society you
earn the money you should get to decide
how how you spend it and uh so
Innovation should be promoted in this
country it has been for over 200 years
it’s what’s made us great this is a
great country still is but feels like
we’re we’re starting to lose some rights
that are that are fundamental and John
as you know is such a fighter I just
can’t wait to see him can you imagine
him up in the Senate and he’s just not
going to take the you know he’s
going to speak the truth and he’s gonna
fight for um you know people who are are
contending with the same circumstances
that John had growing up which was
extreme poverty and and extreme levels
of violence in the neighborhood in the
school that he went to um he remembers
he doesn’t forget where he came from
from and so he’s got a real feeling for
the people you know at the bottom who
are asking themselves where in the hell
did the American dream go you know John
fought his way out and he is you know
exhibit a of what is possible uh in this
country became a United States Marine
and a lawyer and a successful lawyer you
know but he doesn’t forget where he came
from and so this is a an unusual race
where you’ve got someone on the Republic
side that is fighting for the votes um
and the trust of the people who are on
welfare the people are being affected
the most by this unrestricted illegal
immigration where government services
are being taken away from Americans you
know who who use shelters and food banks
Etc and these benefits and the help that
they really need is being taken away to
give you know to new AR Rivals who came
here
illegally that’s not fair and so John uh
is going to be a really really unusual
voice uh in the senate for the people at
the bottom who really need a helping
hand to to get up uh and and to
experience the American dream the
podcast will come out on Sunday but like
the sly sneaky smile on his face when
you mentioned debating Elizabeth Warren
which he believes will happen at least
twice he said she’s never backed down
from a debate to her credit she’s done
it every single cycle it will happen
probably at least twice sometimes up to
five times he was hoping but you know
the the pleasure he gets from the very
idea of getting to stand on stage with
her with no filter is worth any amount
of money you could possibly pay also
like exposing even if you didn’t believe
he could win which I do ex like spending
money to further expose her hypocrisy
and the insanity of her incumbency and
her positions that have changed I mean
you’re talking about literally the
person whose entire stump speech
Elizabeth Warren for years was I can’t
believe no Banker went to jail after the
great financial crisis I’m anti- banks
these people should be punished and now
we have evidence that literally Jamie
Diamond and JP Morgan are writing her
bills I mean it’s l and then you saw her
on you know the senate floor with Jamie
Diamond giving him questions that she
fed and smiling while he says that
Bitcoin should be banned I mean she’s
the perfect example of someone who may
have actually been well-intentioned and
completely just drowned in the swamp and
he can beat her and he’s gonna he’s
gonna point every one of those things
out for all the public to see with the
little bit of money that we can all give
him it’s so good that’s right and and
you know the the Congressional oversight
theater you know where she feeds the
questions to Gary gentler ahead of time
and suggests the answers before a
hearing you know and then they go
through this this theater of this is
oversight I’m asking you some tough
questions that I prepared you on is just
really offensive to the whole structure
of the Constitution of the separation of
powers the responsibility of our people
in Congress to hold the executives
accountable it’s just a big joke you
know to her and they’re all in it
together and if in the club you know
Jamie Diamond and Gary Gensler and
Elizabeth Warren you’re good you know
everything’s fine but if you’re not in
the club like crypto like Caitlyn long
then you’re in trouble you’re in for a
real honest to God fight um and so yeah
I can’t wait until John exposes all of
that stuff well everybody should come to
Austin you can hang out with myself
James and John you know right and uh and
uh and others so I think it’s going to
be an incredible event uh get in early
CU I have a feeling we’re going to be
busting out of the doors James thank you
so much as always for your perspective
and for waking up early in Vegas now you
can go back to the craps table either
that or back to bed so yeah thanks it’s
always great being on with you all right
everybody all right man thank you so
much uh and everybody follow metam La
man of course on X one of the one of the
best to do it I can’t believe you only
been in social media for two years
you’re you’re like a season
veteran all right man get some rest
thank you again all right all right guys
well Dan the chart man’s not here today
uh you may have seen the thing he’s been
talking about endlessly is that
marijuana would eventually get
rescheduled and I saw him literally like
doing bong hits on X talking about
marijuana being rescheduled so I don’t
know if he’s missing because he’s
actively trading marijuana stocks or
just because he’s celebrating but he is
not here today I will be back tomorrow
with Friday five Nathaniel Whitmore guys
and on X for spaces in about 30 minutes
thank you see you all tomorrow oh Market
Mavericks this afternoon with Gareth and
Mike as well see you then bye let
[Music]

I am joined by James Murphy, aka MetaLawMan, a crypto lawyer, who regularly breaks down major regulatory and legal developments in crypto.

James Murphy: https://twitter.com/MetaLawMan

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#Bitcoin #Crypto #trading
Timestamps:
0:00 Intro
1:15 Lumerin
2:30 Market update
4:00 Ethereum & SEC
14:30 CBDC regulation
21:00 CZ gets 4 months
27:00 Roger Ver’s arrest
33:00 John Deaton

The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to “Buy,” “Sell,” or “Hold” an investment.