So the whole Foundation of what crypto Is it's supposed to be distributed Ledger that is across the system I actually believe This technology is going to be very Important that was billionaire investor Larry Fink who is CEO and chairman of BlackRock a multi-international Investment Company with over 10 trillion Dollars in assets under management Larry Was speaking about the future of Cryptocurrency despite FDX despite Sam Bankman freed Larry's still a Believer And I'll play you this full clip as to Why and subscribers of this channel will Remember that even though BlackRock is So so heavily respected in the Traditional World they don't always get Things right Larry Fink's company was One of the biggest investors in FTX Which gave so many average people Confidence in that exchange at the time And before I play that clip and fall I Think it's important I share with you Sam bankman freed now officially to be Extradited to the US he could arrive in New York to face charges as early as Wednesday afternoon and why did this Take so long what's the backstory Well Sam was arrested in his apartment In the Bahamas the country's capital Last week and initially fought Extradition to the U.S he didn't want to Come to the U.S yet while his request
For bail was denied by the Magistrate Judge in the Bahamas bankman freed was Remanded to custody at the Bahamas Notoriously cramped and dangerous Fox Hill prison so he realized how bad and Dangerous the prisons in the Bahamas for Him were after less than a week in Bahamian custody banquin freed appeared In court this Monday and asked the new Magistrate Judge to be extradited to the U.S bankman Freed's request was Eventually granted during the most Recent hearing on Wednesday so because He couldn't get bail in the Bahamas he's Coming home in hopes I would assume to Get he's hoping for some sort of bail Option in the U.S court system The U.S in this bear Market is sort of Having their own issues though one of The largest Bitcoin miners in existence Core scientific they were publicly Traded files for chapter 11 bankruptcy Citing low Bitcoin prices and high costs So their Ticker on the public U.S Markets was cores and they did just file For bankruptcy in Texas and specifically What were their reasons well the Bankruptcy petition resulted from a Combination of a declining bitcoin price Rising electricity costs needed to power Its data centers and the big one failure By certain of its hosting customers to Honor their payment obligations it's Amazing to me how many of these
Seemingly safer infrastructure plays are Now going belly up because I've always Heard you know those protocols the Individual coins so speculative But invest in the infrastructure like The exchanges like the publicly traded Minors it's safer yet now the protocols Are ticking along fine and the Infrastructures some of them are going Down core scientific when public through A SPAC merger in retrospect near the top Of the market back in April 2021 the Stock since then has dropped more than 98 percent this year well with all that Said Why would anybody still be bullish it Seems like this industry is crumbling Around us why is billionaire investor Larry Fink still a believer in the space Listen to him talk about the real reason FDX collapsed how Defy is still doing Fine and how he sees the future evolving For cryptocurrency has this changed your View of crypto at all you have you now Have a deal with coinbase and yet you Were always sort of also I think a bit Of a skeptic of all this oh I actually Believe most of the companies are not Going to be around I still believe that I do believe because because they're now Real they're frogs they're what well I Mean think about FTX I mean you can look Back now FTX created its failure was It's creating its own token it was not a
Defy it wasn't it wasn't a you know a Ledger that was open to the world it was A pleasure right it was not distributed So the whole Foundation of what crypto Is it's supposed to be distributed Ledger that is across the system I actually believe This technology is going to be very Important I am I you know look at it we have been Part of the huge revolution in investing Through ETFs we believe that ETFs will Be changing the whole way we invest Many people still use it as a means While people are investing it for Indexing no they're the majority of People were putting money in an index in An ETFs or active investors that are Buying exposure the entire bond market Is being transformed as we talk right Now I believe the Next Generation for Markets the Next Generation for Securities will be will be tokenization Of securities Um we will and if we could have that Distributed Ledger that we know every Beneficial owner every beneficial seller We all have our our code of who's buying Who's selling instantaneous settlement And think about it changes the whole Ecosystem you don't need Trust Banks but Does that disrupt you eventually because You are custodian all this we don't no
We're not a custodian we're not that we Don't just We use third-party custodians in Everything we do in everything you do we Don't we're not a custodian bank so You're so your goal in that by the way I Don't think he was technically like Custodian either which is a separate Issue I think they were I don't know if there Was a real custodian in that closed Ledger but that's a whole other story uh You should ask them that question Um Uh no I I mean the transformation think About instantaneous settlement bonds and Stocks Um No middlemen we're going to bring down Fees even more dramatically Uh as for me I don't have to vote on any Shares anymore because a beneficial Owner will do all the voting By the way check out how many great Speakers are participating in Bitcoin 2023 the largest crypto conference in Existence it's in Miami next year be Sure to use altcoin daily for 10 off We'll be there come hang with us and use Code altcoind daily link down below this Is interesting another crypto.com ad was Just banned by the UK advertising Regulator the company also had two ads Banned back in January for being
Misleading so why is crypto.com facing Ad bands and specifically these were Facebook ads and the ad for crypto.com Nft their nft platform was seen on the Social media platform back in July well This is what the UK regulator had a Problem with The ASA took issue with the ad because It did not illustrate the risk of Investing in nfts and it didn't make Clear the fees that would apply in a Direct quote from the regulator they say Because the Facebook ad did not include Any risk warning making consumers aware That the value of nfts could go down as Well as up or that they were an Unregulated crypto asset we concluded That the ad was misleading well Crypto.com clapped back here was Crypto.com's response in a submission to The authority The Exchange pointed out That one the ad was no longer live And two that it promoted the trading Platform not a specific nft Therefore they said it would be Unreasonable to request that the Specific ad include limitations or Qualifications regarding the risk of Investing in nfts Further the ad referred to only buying Nfts which are fee free so the need to Mention fees in the ad was not relevant And any qualifications would only Confuse consumers either way the
Regulators still cracking down me still Keeping you updated for those of you Watching on YouTube make sure to have The Bell notification turned on we are Dropping an interview very very soon With a guy from coin Bureau talking About the crypto Market into 2023 really Valuable interview dropping very soon Fantastic brother fantastic business Partner and teammate you're the best Altcoin daily for life [Applause] I love you [Applause]
Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.